Internal Revenue Service (IRS) Content

On February 20, 2024, ICI submitted the attached comment letter to the Internal Revenue Service (IRS) in response to Notice 2024-2, the long awaited "grab bag" guidance on various issues related to the SECURE 2.0 Act changes to the Internal Revenue Code (the "Code"). The Notice, in Q...

On August 23, 2023, ICI submitted a comment letter (Letter) to the IRS and Treasury addressing SECURE 2.0 Act section 305, which amends the Employee Plans Compliance Resolution System (EPCRS), and IRS Notice 2023-43, which provides interim guidance under section 305. The Letter, which...

The Investment Company Institute writes to request immediate guidance and relief relating to certain changes to the Internal Revenue Code (“Code”) enacted under the Consolidated Appropriations Act, 2023 (CAA). As you know, the CAA (signed by the President on December 29, 2022)...

ICI submitted this letter asking the Treasury Department and the Internal Revenue Service (IRS) to provide regulatory relief exempting certain registered investment funds from the tax provisions enacted by the Inflation Reduction Act of 2022 (the "Act"). Specifically, the new...

ICI submitted this letter to the Internal Revenue Service (IRS) with recommendations on how to utilize funds provided under the Inflation Reduction Act. The letter recognizes that this historic funding has the potential to transform and modernize taxpayer service capabilities and...