The Internal Revenue Service and the Treasury Department has issued proposed regulations related to new reporting rules for certain transfers of life insurance policies that were included in the 2017 tax reform law.
In addition to final rules generally concerning 199A qualified business income deductions, the IRS last Friday concurrently issued proposed rules addressing how the deduction would affect charitable remainder trusts, split-interest trusts and regulated investment companies.
With the government shutdown entering its third week, mortgage lending and servicing operations are being affected.
The Internal Revenue Service will on Monday resume processing requests for tax transcripts made through its Income Verification Express Service program — a service that has been suspended since the partial government shutdown began on Dec. 22, 2018.
The American Bankers Association last week submitted a comment letter to the Internal Revenue Service offering feedback on proposed regulations related to the Opportunity Zone tax incentive.
The Internal Revenue Service on Thursday issued a long-awaited proposal interpreting a section of last year’s tax reform law that seeks to combat tax avoidance through deductible payments made in the U.S. into other tax jurisdictions
As Congress continues to consider ways to modernize and strengthen the IRS’ taxpayer authentication procedures, the American Bankers Association joined eight other finance and housing groups in calling for a modern, secure and fully integrated business to government solution for taxpayer authentication.
The Internal Revenue Service today issued initial guidance addressing changes made by the new tax reform law to the deductibility of compensation for corporate executives.
As part of the Federal Housing Finance Agency’s “single security initiative” to standardize the terms for mortgage pass-through certificates issued by Fannie Mae and Freddie Mac, holders of existing related GSE securities will have an opportunity to exchange them for the new standard security.