Recent Articles

June 2022

Jun 27 - Notice 2022-30: Deferral of provisions under section 59A and 6038A regulations relating to reporting of qualified derivative payments

Jun 27 - KPMG report: State, local tax changes (second quarter 2022, table format)

Jun 27 - KPMG reports: Iowa (sales and use tax changes); Oregon (certiorari denied in case concerning VoIP collection of E-911 tax); Washington State (Seattle payroll expense tax upheld, certiorari denied in case concerning B&O tax surcharge financial institutions)

Jun 24 - Proposed regulations: Administration expenses, claims against estates, interest expense on amounts owed by estates (text of regulations)

Jun 24 - IRS announces Superfund chemical excise tax rates

Jun 24 - IRS provides FAQs on the reinstated Superfund chemical excise tax

Jun 24 - IRS practice unit: Energy efficient commercial buildings deduction

Jun 22 - KPMG report: Tax information reporting on crypto-assets

Jun 21 - Rev. Proc. 2022-28: No rulings to be issued regarding whether transactions result in employer reversion from qualified plan

Jun 21 - U.S. Supreme Court grants certiorari, whether penalty for FBAR violation applies on per-account or per-form basis

Jun 16 - Form 4419 relating to transmitter control codes for filing information returns electronically phased out beginning August 2022

Jun 16 - New Jersey: Transfer pricing settlement initiative program for corporate taxpayers

Jun 15 - Texas: Proposed changes to R&D regulations address federal conformity; combined group changes

Jun 15 - U.S. Tax Court: “Innocent spouse relief” not available as defense for trust fund recovery penalty liability

Jun 14 - KPMG report: Post-TCJA interplay between NOLs and charitable deductions

Jun 13 - California: Reminder that PTET elections and payment due June 15

Jun 13 - KPMG reports: California (sale of S corporation stock); Pennsylvania (NFTs); Tennessee (sales tax holiday); Texas (electronic payment transactions); Wisconsin (sales of services)

Jun 9 - Announcement 2022-13: Increased mileage rates for remainder of 2022

Jun 7 - Ninth Circuit: Mandatory repatriation tax under section 965 is constitutional

Jun 7 - KPMG report: Future of consumer and retail—tax perspective

Jun 6 - KPMG reports: Arkansas (leased vehicles); Massachusetts (apportioning sales and use tax); Vermont (corporate income tax); multiple states (nexus)

Jun 1 - KPMG report: Comments submitted to IRS regarding plans to update MAP and APA guidelines

May 2022

May 26 - IRS releases tax collection data for fiscal year 2021

May 23 - KPMG report: Backup withholding; IRS notices and payor responsibilities

May 23 - KPMG reports: Colorado (SALT Parity Act); Tennessee (wholesaler/retailer certificates); Washington State (B&O tax on damages received)

May 20 - Final versions of Form 5500 series, annual employee benefit plan reports

May 20 - IRS notices: Electricity production credit; percentage depletion for oil and gas produced from marginal properties

May 20 - PLR: Tax treatment of REIT’s section 481(a) adjustment

May 20 - Rev. Rul. 2022-11: Interest rates, tax underpayments and overpayments (increase for third quarter 2022)

May 18 - KPMG report: Potential tax benefits under section 1341

May 18 - KPMG report: Proposed changes to qualified intermediary (QI) agreement (Notice 2022-23)

May 17 - Tenth Circuit: Taxpayer did not qualify as small insurance company; Tax Court decision affirmed

May 17 - Massachusetts: Taxpayer prevails in capital gain tax dispute on statutory, but not constitutional grounds

May 16 - KPMG report: Wind facilities can requalify for another 10 years of production tax credit (PTC) after previously claiming PTC

May 16 - KPMG reports: Colorado (retail delivery fees form); Kansas (sales tax on passed-through costs); Vermont (proposed corporate income tax changes); multiple states (sales tax legislative updates)

May 13 - Notice 2022-27: Six-month extension allowing retirement plan elections and spousal consents to be signed remotely (COVID-19)

May 12 - IRS provides tax relief for taxpayers affected by wildfires in New Mexico

May 11 - Ninth Circuit: Tax return considered filed when sent in response to IRS inquiry; Tax Court reversed

May 9 - KPMG reports: California (franchise tax); Colorado (retail delivery fees); New York (revised franchise tax regulations and Public Law 86-272)

May 6 - GLAM: Allocation and apportionment of deferred compensation expense for purposes of calculating FDII—departure from prior IRS legal advice

May 5 - IRS corrects renewable electricity production inflation factors, reference prices for 2022

May 4 - Proposed regulations: Updated actuarial tables for valuing annuities, terms of years, and remainder interests

May 3 - Notice 2022-23: Proposed changes to QI withholding agreement for dispositions of publicly traded partnership interests

May 2 - KPMG reports: Minnesota (credit card surcharges subject to sales tax); New York (free gift cards subject to sales tax); Oklahoma (expanded marketplace facilitator definition)

April 2022

Apr 29 - IRS notices: Oil and gas—reference prices for 2021, inflation adjustment factor and phase-out for enhanced oil recovery credit

Apr 29 - Rev. Proc. 2022-24: HSA inflation-adjusted amounts for 2023

Apr 27 - Proposed regulations: Mortality tables for determining present value under defined benefit pension plans

Apr 27 - Notice 2022-22: Mortality rates, tables for defined benefit pension plans (2023)

Apr 26 - Proposed regulations: Basic exclusion amount, estate and gift taxes

Apr 26 - Notice 2022-21: Request for recommendations for IRS 2022-2023 Priority Guidance Plan

Apr 26 - Eighth Circuit: Expert witness testimony excluded and deductions for management fees denied; Tax Court affirmed

Apr 26 - IRS practice unit: Country-by-country (CbC) report in the transfer pricing risk analysis process

Apr 25 - KPMG reports: Texas (use tax on promotional items); Virginia (interest deduction, SALT cap workaround); West Virginia (unclaimed property)

Apr 22 - Sixth Circuit: Tax credit applied against fuel excise tax reduces excise tax liability

Apr 21 - U.S. Supreme Court: 30-day time limit to petition for review of collection determination subject to equitable tolling

Apr 19 - Rev. Proc. 2022-23: Late elections for depreciation of Indian reservation and biofuel property and accounting for film, TV and theater production costs

Apr 18 - IRS reminds employers of penalty relief related to claims for employee retention credit (COVID-19)

Apr 18 - U.S. Supreme Court: Certiorari denied in states’ challenge to 2017 tax law limiting SALT deduction

Apr 18 - KPMG report: State and local tax, technology-related developments (table, first quarter 2022)

Apr 18 - KPMG reports: Kentucky (House Bill 8 enacted over governor’s veto); New Jersey (P.L. 86-272 application); New York (admission of nexus); Texas (“sale for resale” exemption)

Apr 15 - Notice 2022-15: Superfund excise taxes, relief regarding failure to deposit penalties

Apr 15 - Kentucky: Comprehensive tax bill enacted over governor’s veto

Apr 13 - Brazil takes steps toward OECD transfer pricing guidelines

Apr 13 - New York City: SALT cap “workaround” enacted for 2023

Apr 13 - Puerto Rico: Postponed due date for income tax returns, corporate annual reports, LLC annual fees

Apr 13 - Renewable electricity production inflation factors, reference prices for 2022

Apr 12 - U.S. Tax Court: At-home private nurses were employees for federal employment tax purposes

Apr 12 - IRS announces taxpayers may soon receive letters relating to qualified opportunity funds

Apr 11 - KPMG reports: Maryland (no tax liability for tribe); Oklahoma (date for refund claim); Washington State (B&O tax apportionment for Tacoma)

Apr 8 - Maryland: Digital advertising services tax, estimated tax payment form is released

Apr 6 - Fourth Circuit: Payments to Russian scientist—taxable compensation or exempt from tax as a grant?

Apr 6 - U.S. Tax Court: Accounting for deferred fees using GAAP by retirement community upheld

Apr 5 - Proposed regulations: Guidance under section 36B regarding premium tax credit, employer coverage for employee family members (text of regulations)

Apr 5 - Temporary regulations under section 245A held invalid (federal district court)

Apr 4 - U.S. Treasury release: No change to list of countries cooperating with international boycott

Apr 4 - KPMG reports: Arkansas (nexus and apportionment); Kentucky (corporate, individual and indirect tax measures); Oregon (source of receipts)

March 2022

Mar 31 - IRS practice unit: Deferred compensation received by nonresident alien individuals

Mar 31 - IRS provides tax relief for taxpayers affected by storms in Puerto Rico

Mar 31 - U.S. Tax Court: Fees for use of securities exchanges not deductible under section 199

Mar 30 - Announcement 2022-7: APMA program, APA statistics for 2021

Mar 30 - Proposed regulations providing guidance under section 36B regarding premium tax credit; OIRA review completed

Mar 30 - Rev. Proc. 2022-21: Nationwide average purchase price, residences located in United States

Mar 29 - Tax treaty update: Senate Foreign Relations Committee approves income tax treaty with Chile

Mar 29 - KPMG report: State, local tax changes (first quarter 2022, table format)

Mar 28 - Fifth Circuit: Butane not eligible for tax credit; tax on exports of domestic crude oil held unconstitutional

Mar 28 - KPMG reports: Colorado (online marketplaces); Iowa (software, NOLs); Missouri (digital clubs); New Jersey (virtual currency); Tennessee (R&D expenses)

Mar 25 - Proposed regulations: Multiple employer plans (text of regulations)

Mar 25 - Ninth Circuit: Prior supervisory approval for penalty assessment for listed transaction; Tax Court reversed

Mar 25 - KPMG report: Evolving Form 1099-K thresholds

Mar 25 - Texas: Comptroller’s sourcing position in satellite radio case rejected by state’s high court

Mar 23 - KPMG report: Federal district court vacates Notice 2016-66 (microcaptive insurance transactions)

Mar 22 - IRS practice unit: Penalties for erroneous claims for refund or credit

Mar 21 - Rev. Rul. 2022-7: Federal, state, and local government employees also subject to disclosure restrictions regarding returns

Mar 21 - U.S. Tax Court: Initial determination of penalties, after IRS supervisory approval was obtained

Mar 21 - KPMG reports: California (acceleration of installment payments); Ohio (computer software); New York State (purchase for resale exemption)

Mar 18 - AOD 2022-2: IRS nonacquiescence to Eleventh Circuit’s decision, relocation benefits provided by railroad to employees

Mar 18 - Notice 2022-11: Indexing factor for provisions aimed at preventing surprise medical bills

Mar 18 - PLR: Liability-waiver payments received from tenants, relating to self-storage facilities, deemed rents from real property for REIT income tests

Mar 18 - Rev. Proc. 2022-20: Teleconferences satisfying the public approval requirements for tax-exempt qualified private activity bonds

Mar 18 - KPMG report: Updated analysis of Pillar Two model rules for 15% global minimum tax following release of commentary

Mar 17 - KPMG report: Updated list of automatic changes (Rev. Proc. 2022-14)

Mar 16 - Rev. Proc. 2022-17: Automobile depreciation deduction limits for 2022

Mar 16 - U.S. Tax Court: Compute foreign tax credit using same method that CFC used to apportion interest expense

Mar 16 - KPMG report: Understanding the excess business loss limitation

Mar 15 - Notice 2022-13: Waiver of addition to tax under section 6654 for certain farmers, fishermen

Mar 14 - Announcement 2022-6: Temporary suspension of prototype IRA opinion letter program

Mar 14 - Proposed regulations pending OIRA review: Guidance under section 36B regarding premium tax credit

Mar 14 - Sixth Circuit: Regulations on charitable donation of conservation easement upheld as valid; Tax Court affirmed

Mar 14 - KPMG reports: Idaho (sales-factor apportionment); New Jersey (employee retention credit); New Mexico (gross receipts tax); New York (broker-dealer sourcing rules); Pennsylvania (employee retention credit)

Mar 9 - KPMG report: Reminder about partnership reporting for tax year 2021

Mar 7 - KPMG reports: California (unclaimed property); Iowa (corporate income tax rate reduction); Texas (taxable data processing services); Washington State (capital gains tax on individuals)

Mar 4 - Notice 2022-10: Housing expense limit adjustments, foreign locations for 2022

Mar 3 - Sixth Circuit: IRS failed to comply with notice-and-comment process in issuing Notice 2007-83 regarding “listed transactions”

Mar 3 - Sixth Circuit: Rehearing en banc denied in subpart F income case

Mar 3 - IRS updates FAQs on paid sick and family leave credits (COVID-19)

Mar 1 - KPMG report: Avoid common errors when filing Forms series 1099

Mar 1 - KPMG report: Form 1099-K and section 6050W reporting updates

February 2022

Feb 28 - KPMG reports: New York (cyber-protective services, sales tax); Pennsylvania (split-factor appointment); multiple states (federal tax conformity)

Feb 28 - U.S. Tax Court: Cash-surrender value of life insurance policies not includible in estate

Feb 24 - Federal Circuit: Request for Section 1603 grants denied; facilities not placed in service in 2009

Feb 23 - Proposed regulations: Required minimum distributions (text of regulations)

Feb 23 - Rev. Rul. 2022-5: Interest rates, tax underpayments and overpayments (increase for second quarter 2022)

Feb 23 - U.S. Tax Court: Professional basketball franchise not allowed deduction for deferred compensation when amounts not paid to players

Feb 22 - U.S. government’s comments opposing Canada’s digital services tax proposal

Feb 21 - KPMG report: State-level passthrough entity tax; election considerations and upcoming deadlines

Feb 21 - KPMG reports: Alabama (rental tax); Pennsylvania (sales tax on vehicle financing); Utah (reduced tax rates)

Feb 18 - KPMG report: Initial impressions of draft rules for tax base determinations under Pillar One
Amount A

Feb 16 - IRS releases FAQs about relief for partnerships and S corporations preparing Schedules K-2 and K-3 for 2021

Feb 16 - California: “Unprotected” activities resulting in internet sellers losing P.L. 86-272 protection clarified

Feb 16 - Financing structure challenged, Spanish tax authorities look through Dutch entity to impose withholding tax on U.S. entity

Feb 15 - IRS updates FAQs on emergency relief grants to students; no information reporting requirement for education institutions (COVID-19)

Feb 14 - KPMG report: Treasury examines QOZ investments for reporting deficiencies

Feb 14 - KPMG reports: California (COVID-related business tax relief); Idaho (income tax rate reductions); Massachusetts (deductibility of gross receipts taxes); Virginia (property factor)

Feb 9 - IRS adds a new compliance campaign (LB&I division)

Feb 8 - KPMG report: Year-in-review list of U.S. federal tax developments for 2021 (as reported in TaxNewsFlash)

Feb 7 - Delaware: Unclaimed property, voluntary disclosure agreement invitations to be mailed for 2022

Feb 7 - KPMG reports: California (unclaimed property); New York State (taxable information services); Wisconsin (end-user, sales tax purposes)

Feb 6 - KPMG report: Public consultation document on Pillar One—draft model rules for nexus and revenue sourcing

Feb 4 - AOD 2022-1: IRS nonacquiescence to Fifth Circuit’s decision; limitations period for backup withholding

Feb 4 - IRS revokes REIT private letter ruling

January 2022

Jan 31 - Rev. Proc. 2022-14: List of automatic changes, accounting methods

Jan 31 - U.S. Tax Court: Constructive transfer of intangible property in reorganization

Jan 31 - KPMG reports: Florida (apportionment of service receipts); multiple states (NOL deductions in proposed legislation)

Jan 28 - Notice 2022-8: Defined benefit plans, 2022 cumulative list for plan qualification requirements

Jan 28 - KPMG report: Regulations addressing tax treatment of U.S. partnerships and S corporations that own stock of CFCs and PFICs

Jan 26 - Final regulations implementing funding to support state and local governments (COVID-19)

Jan 24 - KPMG report: Certain states currently accepting Form 1099-NEC under CF/SF program

Jan 24 - Final regulations: Rules for determining stock ownership, sections 951A and 958 (text of regulations)

Jan 24 - Proposed regulations: Domestic partnerships and S corporations holding PFICs and CFCs (text of regulations)

Jan 24 - KPMG reports: Connecticut (NOLs and combined return); Michigan (sales tax, delivery charges); North Carolina (corporate franchise tax); Virginia (sales tax, public artwork)

Jan 20 - IRS provides tax relief for taxpayers affected by Tennessee storms, tornadoes

Jan 19 - IRS reminder: Employers must file Forms W-2 and provide Forms 1099-MISC and 1099-NEC by January 31, 2022

Jan 19 - Rev. Proc. 2022-13: Tax Court review of employment tax determinations under section 7436

Jan 18 - Notice 2022-6: Determination of substantially equal periodic payments

Jan 18 - KPMG reports: Florida (automatic corporate refunds); Massachusetts (manufacturing corporation status); Tennessee (drop shipment rule); Virginia (credit for taxes paid to another state)

Jan 14 - Rev. Proc. 2022-10: Pilot program, “fast-track processing” of letter ruling requests by corporate taxpayers

Jan 13 - KPMG report: Section 45Q credit for carbon oxide sequestration; considerations for equipment upgrades and the 80/20 Rule

Jan 12 - IRS corrects Rev. Proc. 2021-54: Insurance companies, unpaid loss discount factors for 2021 accident year

Jan 12 - National Taxpayer Advocate report to Congress identifying taxpayer challenges

Jan 11 - IRS provides tax relief for taxpayers affected by Washington State flooding, mudslides

Jan 11 - Notice 2022-5: Extended temporary relief, low-income housing credit under section 42 (COVID-19)

Jan 10 - U.S. tax season starts January 24, 2022; most individual returns due April 18, 2022

Jan 10 - Puerto Rico: Program for taxpayers to resolve unpaid real property taxes offers relief, discounts

Jan 10 - KPMG reports: Oregon (VoIP collection of E-911 tax); Pennsylvania (manufacturing exemption, sales tax); Tennessee (computer software, sales tax); Texas (manufacturing exemption, sales tax)

Jan 7 - Sixth Circuit: IRS summonses issued to banks of taxpayer’s wife and taxpayer’s lawyers

Jan 6 - IRS provides FAQs regarding research credit claims

Jan 6 - KPMG report: Determining control in public M&A transactions

Jan 5 - Rev. Rul. 2022-2: Covered compensation tables for 2022 plan year

Jan 5 - KPMG report: Recent SEC and FASB comments on accounting for income taxes

Jan 5 - KPMG report: Initial analysis of final regulations concerning foreign tax credit

Jan 4 - KPMG report: Foreign tax credit and certain deductions of life insurance companies (final regulations)

Jan 4 - IRS practice unit: Overview of section 245A dividends received deduction

Jan 4 - IRS modifies Hurricane Ida-related tax relief for taxpayers in six states

Jan 3 - IRS provides tax relief for taxpayers affected by Colorado wildfires

2021 Articles

December 2021

Dec 31 - KPMG report: Outline of measures in IBOR final regulations

Dec 31 - IRS releases annual revenue procedures for 2022

Dec 31 - KPMG report: State, local tax changes (fourth quarter 2021, table format)

Dec 30 - Final regulations: Tax consequences of transition from IBOR to other rates (text of regulations)

Dec 30 - U.S. Treasury release: Countries cooperating with international boycott; no changes

Dec 28 - Final regulations: Foreign tax credit and clarifying FDII (text of regulations)

Dec 28 - Rev. Proc. 2022-11: Indexing factor for use by group health plans and health insurance issuers in 2022

Dec 28 - IRS provides tax relief for taxpayers affected by storms in Alabama

Dec 28 - IRS provides tax relief for taxpayers affected by tornadoes in Arkansas

Dec 23 - Michigan: SALT cap workaround available for 2021 tax year; payments accepted starting December 29, 2021

Dec 23 - TTB guidance: Tax-free withdrawal of distilled spirits for hand sanitizers ends December 31, 2021 (COVID-19)

Dec 22 - KPMG report: Initial analysis of Pillar Two model rules for global minimum tax under OECD/G20 Inclusive Framework

Dec 22 - KPMG report: R&E changes from TCJA effective for tax years beginning after December 31, 2021

Dec 22 - IRS extends Hurricane Ida tax relief to taxpayers in six states to February 15, 2022

Dec 21 - Final regulations on transition from interbank offered rates (IBORs) to other reference rates; OIRA review completed

Dec 21 - Notice 2022-1: Guidance for lenders and loan servicers regarding student loan forgiveness

Dec 21 - Notice 2022-4: Self-insured health insurance annual fee

Dec 21 - U.S. competent authority arrangement concerning pension fund retirement schemes in Malta

Dec 20 - IRS provides tax relief for taxpayers affected by tornadoes in Illinois and Tennessee

Dec 20 - KPMG report: State identification numbers for Forms 1099-MISC and 1099-NEC

Dec 20 - KPMG report: Survey of 2021 insurance tax developments

Dec 20 - KPMG reports: Louisiana (sales and use tax); Massachusetts (sales tax remittances); Washington State (B&O tax); Wisconsin (apportionment of environmental credits)

Dec 20 - OECD: Pillar Two model rules for domestic implementation of 15% global minimum tax

Dec 17 - Notice 2022-3: Standard mileage rates for 2022

Dec 17 - PLR: Payments for use of storage terminal facilities and pipelines qualify under REIT income tests

Dec 16 - Rev. Proc. 2022-9: Automatic consent to change methods of accounting (text of guidance)

Dec 15 - TTB guidance: Updated FAQs regarding craft beverage modernization and tax reform

Dec 15 - Final regulations pending OIRA review: Transition from interbank offered rates (IBORs) to other reference rates

Dec 14 - Notice 2021-66: Excise taxes reimposed, list of “Superfund” taxable chemical substances

Dec 14 - D.C. Circuit: Airline’s claims for refunds of ticket-related security fees from TSA

Dec 14 - IRS provides tax relief for taxpayers affected by tornadoes in Kentucky

Dec 14 - IRS releases five practice units, covering topics including BEAT and foreign tax credit

Dec 13 - FBAR filings: Deadline extended once again—to April 15, 2023—for certain individuals with signature authority

Dec 13 - Final regulations on foreign tax credit, clarification of FDII; OIRA review completed

Dec 13 - Rev. Proc. 2021-54: Insurance companies, unpaid loss discount factors for 2021 accident year

Dec 13 - KPMG reports: Arkansas (income tax rate reductions); Massachusetts (nexus for online retailer); Washington State (notice requirement)

Dec 10 - TTB reminder: Due date for tax returns, payments for alcohol industry annual filers

Dec 7 - Proposed regulations: Beneficial ownership information reporting; possible real estate transaction reporting

Dec 7 - Sixth Circuit: U.S. taxpayer realized subpart F income on sales of appliances manufactured in Mexico

Dec 6 - Notice 2021-65: Termination of employee retention credit, guidance for fourth quarter 2021 (COVID-19)

Dec 6 - KPMG reports: Illinois (electric vehicle charging stations); New York (sales and use tax, websites); Ohio (tax withholding during COVID-19 period)

Dec 3 - Proposed regulations: Health insurance coverage limited to testing, diagnosis not “minimum essential coverage” (COVID-19)

Dec 1 - Delaware: NOL limitation policy not supported by statute (court decision)

Dec 1 - Fifth Circuit: Penalty for FBAR violation applies on per-account basis, not on per-form basis

Dec 1 - Rev. Rul. 2021-20, Rev. Proc. 2021-43: Guidance concerning low-income housing tax credit

Dec 1 - United States and Turkey (Türkiye): Competent authority arrangement regarding exchange of country-by-country reports

November 2021

Nov 30 - Rev. Proc. 2021-53: Temporary modification to safe harbor for distributions by REITs and RICs (COVID-19)

Nov 30 - Notice 2021-64: Required amendments list (2021) for qualified retirement plans and 403(b) plans

Nov 30 - North Carolina: Tax changes in budget legislation

Nov 29 - Final regulations pending OIRA review: Foreign tax credit, clarification of FDII

Nov 24 - United States and India reach agreement regarding “equalization levy” (digital services tax)

Nov 23 - U.S. Tax Court: Determining “immediate supervisor” for approving penalty when revenue agent has two different supervisors

Nov 23 - Rev. Rul. 2021-24: Interest rates, tax underpayments and overpayments (no changes for first quarter 2022)

Nov 22 - United States and Turkey (Türkiye) announce digital services tax agreement

Nov 22 - KPMG reports: Louisiana (individual tax measures); New Mexico (tax procedure); North Carolina (tax rate changes)

Nov 22 - Proposed regulations: “Minimum essential coverage” regarding health insurance (text of regulations)

Nov 18 - Rev. Procs. 2021-48, 2021-49, 2021-50: Tax treatment of PPP loan forgiveness; partnership allocations and stock basis adjustments

Nov 18 - Tier 2 tax rates for railroads, no changes for 2022

Nov 18 - U.S. Tax Court: IRA’s investment in coins, followed by taxpayer taking physical possession of the coins, held a taxable distribution

Nov 17 - Regulations: Information reporting about prescription drugs and health care spending by group health plans and health insurance issuers

Nov 17 - IRS expands tax relief to all taxpayers in Mississippi affected by Hurricane Ida

Nov 16 - Notice 2021-63: Clarifying temporary 100% deduction for food or beverages from restaurants and per diem rates

Nov 16 - KPMG report: Inflation adjustments for information return penalties (Rev. Proc. 2021-45)

Nov 15 - President signs bipartisan infrastructure bill, tax provisions are enacted

Nov 15 - IRS launches quality review tool for Form 1042-S data

Nov 15 - IRS extends tax relief for taxpayers affected by California wildfires

Nov 15 - KPMG reports: Arkansas (marketplace facilitators); Arkansas and Colorado (sales tax, food tours); Illinois (sales tax refunds); Massachusetts (pass-through entity tax); Texas (taxable information services)

Nov 12 - Notice 2021-35: Carbon oxide sequestration credit, inflation adjustment factor for 2021 under section 45Q

Nov 10 - Rev. Proc. 2021-45: Inflation adjustments for 2022, individual taxpayers

Nov 10 - Deadline for QI / WP / WT applications for 2021 is November 26, 2021

Nov 8 - Rev. Proc. 2021-47: Federal tax treatment and information reporting of payments made on behalf of financially distressed homeowners (COVID-19)

Nov 8 - KPMG reports: Illinois (apportionment and Bitcoin); Illinois (online retailer); Kansas (marketplace facilitator); Massachusetts (manufacturing corporation)

Nov 4 - Notice 2021-61: Pension plans, cost-of-living adjustments for 2022

Nov 4 - Treasury to allocate $5 billion in New Markets Tax Credit (NMTC) authority for 2021

Nov 3 - IRS releases FAQs as reporting guidance for “carried interests”

Nov 3 - PLR: Prior IRS guidance for public utilities regarding proper application of excess deferred income tax normalization consistency rules validated

Nov 3 - IRS filing, payment relief for taxpayers affected by Hurricane Ida (Connecticut)

Nov 3 - IRS practice unit: Expense allocation and apportionment in calculation of foreign tax credit limitation

Nov 1 - Puerto Rico: New consolidated form for monthly reporting of sales and use tax and tax on imports

Nov 1 - KPMG reports: California (L.A. business tax); Iowa (web-hosting services); Louisiana (transfer pricing); Texas (marketplace mobile app)

October 2021

Oct 27 - IRS expands tax relief, certain taxpayers in Mississippi affected by Hurricane Ida

Oct 27 - IRS practice units: U.S. trade or business, permanent establishment; nonresident employee education expenses

Oct 25 - KPMG reports: Illinois (marketplace facilitators); Louisiana (pending tax-related referendum)

Oct 22 - IRS guidance (FAQs) for employers seeking to rehire retirees or retain employees after retirement age (COVID-19)

Oct 21 - U.S. Treasury statement regarding digital services taxes imposed by Austria, France, Italy, Spain, United Kingdom

Oct 20 - KPMG report: State and local tax, technology-related developments (table, third quarter 2021)

Oct 20 - KPMG report: Year-end tax considerations for cryptocurrency investors

Oct 18 - LB&I video-conferencing for large business taxpayers

Oct 18 - KPMG reports: Alaska (failure to file electronically); Oregon (sales factor and foreign dividends); Texas (apportionment); Texas (sales tax nexus)

Oct 15 - IRS clarifies FAQs may offer reasonable cause for penalty protection, but are not precedential

Oct 15 - IRS sets forth required information for valid research credit claim for refund (Chief Counsel legal advice memo)

Oct 15 - Rev. Rul. 2021-19: Fringe benefit aircraft valuations, second half of 2021

Oct 12 - Notice 2021-57: Funding relief for multi-employer defined benefit pension plans pursuant to “American Rescue Plan Act of 2021”

Oct 12 - Notice 2021-59: Deferred applicability dates for foreign currency guidance under section 987

Oct 11 - KPMG reports: California (property tax, solar energy); Michigan (alternative apportionment formula); New Jersey (combined reporting)

Oct 9 - KPMG report: OECD/G20 Inclusive Framework agreement on BEPS 2.0

Oct 8 - OECD: Agreement for global minimum tax, to resolve international taxation of digital economy

Oct 7 - KPMG report: Form 1099-NEC added to the combined federal-state filing program

Oct 7 - Texas: Revised R&D rules for state tax purposes

Oct 7 - U.S. Treasury release: No change to list of countries cooperating with international boycott

Oct 6 - FBAR filing deadline relief for persons affected by certain natural disasters

Oct 6 - Notice 2021-58: Application of certain extensions under COBRA (COVID-19)

Oct 4 - IRS practice unit: Examining a reseller’s section 263A computation

Oct 4 - KPMG reports: Arkansas (add back); Massachusetts (sales tax); Mississippi (software, sales tax); Virginia (NOL carrybacks)

September 2021

Sep 30 - Regulations: Measures to address “surprise” medical billing

Sep 30 - Washington State: High court upholds B&O tax surcharge on banks

Sep 28 - Rev. Proc. 2021-32: Updated list of countries, deposit interest paid to nonresident aliens (Chile, Dominican Republic, Singapore)

Sep 27 - Final regulations: Process, user fee for requesting estate tax closing letter

Sep 27 - KPMG reports: New Jersey (royalty payments); Ohio (local billboard tax); Pennsylvania (remote supply services); Washington State (heavy equipment rental tax)

Sep 24 - KPMG report: State, local tax changes (third quarter 2021, table format)

Sep 24 - Notice 2021-55: Farmers, ranchers affected by drought allowed more time to replace livestock

Sep 22 - IRS webpage: Resource and information about refunds subject to review by Joint Committee on Taxation

Sep 22 - Senate approves Assistant Secretary for Tax Policy

Sep 21 - Final regulations: Distributions of property by corporations to shareholders

Sep 21 - Final regulations: Rules relating to qualified business asset investment (QBAI) (text of regulations)

Sep 20 - PLRs: IRS acceptance of non-traditional real property (such as fiber optic cable) for REIT income tests

Sep 20 - KPMG reports: California (sales tax, farming equipment); Florida (corporate income tax rate); Nevada (local franchise fees); Pennsylvania (corporate net income tax refund)

Sep 16 - IRS practice units: Section 263A costs for self-constructed assets; limitation of exchange gain or loss

Sep 15 - IRS extends dyed diesel fuel penalty relief in Louisiana, response to hurricanes

Sep 14 - Proposed regulations: Changes to Form 5500 annual returns filed for employee pension plans

Sep 14 - Tax relief for taxpayers in Pennsylvania affected by Hurricane Ida

Sep 14 - Texas: Leasing company entitled to use lower wholesale franchise tax rate; Texas high court to review satellite radio sourcing rules

Sep 13 - Rev. Proc. 2021-41: Foreign insurance companies; effectively connected net investment income (2020)

Sep 13 - IRS provides tax relief for taxpayers in North Carolina affected by Tropical Storm Fred

Sep 13 - KPMG report: Marketplace facilitator updates (California, Illinois, Texas)

Sep 13 - KPMG reports: Colorado (online learning platform); Virginia and Washington (bag tax); West Virginia (streaming services)

Sep 10 - IRS Priority Guidance Plan for 2021-2022

Sep 10 - IRS reminder: Cost of home testing is eligible medical expense; reimbursable under FSAs, HSAs (COVID-19)

Sep 10 - Tax relief for taxpayers in Mississippi affected by Hurricane Ida

Sep 8 - Regulations: Recapture of excess employment tax credits under the “American Rescue Plan Act” (COVID-19)

Sep 8 - IRS provides tax relief for taxpayers affected by Hurricane Ida (New York and New Jersey)

Sep 8 - KPMG report: Like-kind exchange relief for taxpayers affected by Hurricane Ida

Sep 7 - Notice 2021-53: Reporting qualified sick leave, qualified family leave wages (COVID-19)

Sep 7 - KPMG report: Draft forms and instructions in W-8 series

Sep 3 - Notice 2021-52: Per diem rates, substantiation of employee lodging, meals, incidentals (2021-2022)

Sep 3 - Penalty for failure to deposit taxes under CARES Act (Chief Counsel legal advice memo)

Sep 1 - Rev. Proc. 2021-37, Rev. Proc. 2021-38: Pre-approved retirement plans

Sep 1 - Treasury awards $5 billion in New Markets Tax Credit (NMTC) allocations

Sep 1 - IRS practice unit: Foreign tax credit (business) general principles

Sep 1 - IRS to waive dyed fuel penalty in Louisiana; hurricane-related relief

August 2021

Aug 31 - Rev. Proc. 2021-39: Further extension of relief regarding tax-exempt bonds (COVID-19)

Aug 31 - IRS provides tax relief for taxpayers in Louisiana affected by Hurricane Ida

Aug 30 - KPMG reports: California (worker’s compensation); Michigan (business tax sales factor); New York (passthrough entity tax); multiple states (business activity by internet seller)

Aug 27 - IRS provides tax relief for taxpayers affected by August 2021 storms in Tennessee

Aug 27 - Tax relief for taxpayers in California affected by wildfires

Aug 25 - Seventh Circuit: Safe harbor relief from federal excise tax, refurbished heavy truck tractors

Aug 25 - Rev. Rul. 2021-17: Interest rates, tax underpayments and overpayments (no changes for fourth quarter 2021)

Aug 25 - KPMG report: IRS extends certification deadline for certain employers claiming work opportunity tax credit

Aug 24 - Notice 2021-51: Revised applicability date, withholding and reporting regarding publicly traded partnership interests

Aug 24 - IRS practice units: Transfers of property to partnerships; accuracy-related penalty and reportable transactions

Aug 24 - KPMG report: Employee retention credit—additional guidance ties up many loose ends

Aug 23 - IRS opens application period for 2022 Compliance Assurance Process (CAP) program

Aug 23 - KPMG reports: Colorado (federal tax conformity); North Carolina (sourcing, asset management services); Texas (sourcing, satellite radio service)

Aug 16 - U.S. Tax Court: Treaty provisions do not allow foreign tax credit offset against net investment income tax

Aug 16 - KPMG report: Tax updates for facilitators of accommodations (New Hampshire, Virginia)

Aug 16 - KPMG reports: Hawaii (software, excise tax); Pennsylvania (erroneous sales tax collection); Oregon (corporate activity tax)

Aug 12 - Rev. Proc. 2021-35, Rev. Proc. 2021-34: Safe harbor method accounting, OID on pool of credit card receivables and related automatic consent

Aug 10 - Notice 2021-43: Relief for certain employers claiming the Work Opportunity Tax Credit

Aug 10 - Rev. Proc. 2021-33: Safe harbor for employers to exclude amounts for determining employee retention credit eligibility

Aug 9 - KPMG report: Second set of corrective amendments to qualified opportunity fund regulations

Aug 9 - KPMG reports: Arkansas (NOL add-back); Colorado (cable television services); Connecticut (relief for sellers of meals); Washington State (retailer’s nexus)

Aug 6 - Notice 2021-47: Enhanced oil recovery credit for 2021

Aug 6 - Rev. Proc. 2021-31: Automobile depreciation deduction limits for 2021

Aug 6 - IRS reminder: Plans retroactively adopted after the end of the plan year have no 2020 Form 5500 filing requirement

Aug 4 - Notice 2021-49: Guidance for employers claiming employee retention credit, for third and fourth quarters 2021

Aug 4 - IRS practice unit: Penalty for failure to include reportable transaction information

Aug 3 - Competent authority arrangements on derivative benefits under United States-United Kingdom income tax treaty

Aug 3 - Updated FAQs concerning PPP loans, SBA discontinues “loan necessity questionnaire”

Aug 2 - Notice 2021-48: Guidance on single-employer defined benefit pension plan funding changes

Aug 2 - KPMG report: Expiring nexus and withholding relief in multiple states (COVID-19)

Aug 2 - KPMG report: Marketplace facilitator updates (Alabama, Missouri, New Mexico)

Aug 2 - KPMG reports: Florida (federal tax conformity); Virginia (easy return labels subject to sales and use tax)

July 2021

Jul 29 - IRS updates FAQs on paid leave credits available for employers; leave provided to employees with regard to vaccinations (COVID-19)

Jul 28 - Interim final rule: PPP loan forgiveness process, appeals deferment (COVID-19)

Jul 28 - IRS practice unit: Overview of section 987 and branch operations in a foreign currency

Jul 28 - KPMG report: Employers helping employees—disaster relief

Jul 28 - KPMG report: Treaty claims and Form W-8BEN-E

Jul 26 - IRS revises system for filing information returns electronically

Jul 26 - Notice 2021-46: Additional IRS guidance on premium assistance for COBRA benefits

Jul 26 - KPMG report: Marketplace facilitator legislation (Alaska, Colorado, Florida, Illinois, Kansas, Missouri)

Jul 26 - KPMG reports: Indiana (franchise fee litigation); Michigan (advertising materials)

Jul 22 - U.S. list of countries cooperating with international boycott; no change

Jul 21 - Proposed regulations: Electronic-filing requirements for specific tax returns, other documents

Jul 21 - IRS provides tax relief for taxpayers affected by June 2021 storms in Michigan

Jul 19 - KPMG report: Treatment of PPP loans (California, Hawaii, Minnesota, Rhode Island)

Jul 19 - KPMG reports: Arizona (digital data); California (SALT cap work-around); Oregon (corporate activity tax)

Jul 16 - Rev. Proc. 2021-30: Employee plans correction methods, updated

Jul 16 - Section 482 adjustments for cost-sharing agreements with reverse claw-back provisions (Chief Counsel legal advice memo)

Jul 16 - KPMG report: State and local tax, technology-related guidance (table, second quarter 2021)

Jul 10 - G20 Finance Ministers conclude meeting with agreement for global minimum tax, other measures

Jul 9 - Notice 2021-38: PBGC special financial assistance for multiemployer defined benefit pension plans financially at risk

Jul 9 - IRS practice units: FDII and computing qualified research expenses

Jul 6 - Regulations: Implementing “no surprises” measures, medical and health-related bills

Jul 6 - IRS provides FAQs on tax treatment of Treasury grants for transportation service companies (COVID-19)

Jul 2 - Delaware: New unclaimed property enforcement provisions are enacted

Jul 2 - IRS practice unit: Foreign tax redeterminations

Jul 2 - KPMG report: OECD/G20 Inclusive Framework agreement on BEPS 2.0

Jul 1 - Rev. Rul. 2021-13: Credit for carbon oxide sequestration under section 45Q

June 2021

Jun 30 - Notice 2021-39: Transition relief, new Schedules K-2 and K-3 for enhance reporting of international tax matters by pass-through entities

Jun 30 - Notice 2021-42: Employer leave-based donation programs, extended for 2021 (COVID-19)

Jun 30 - Rev. Proc. 2021-14: Guidance on NOL elections and revocations, farming losses

Jun 30 - IRS practice unit: Allocation methods of personal use of aircraft

Jun 29 - Notice 2021-41: Continuity safe harbor is extended, renewable energy projects

Jun 29 - KPMG report: State, local tax changes (second quarter 2021, table format)

Jun 28 - KPMG reports: Colorado (combined reporting); Connecticut (corporate surtax); Florida (sales tax holiday); New Hampshire (forgiven PPP loans); Vermont (forgiven PPP loans)

Jun 24 - Notice 2021-40: One-year extension allowing retirement plan elections and spousal consents to be signed remotely (COVID-19)

Jun 24 - CDC extends temporary eviction moratorium through July 2021 (COVID-19)

Jun 24 - IRS releases tax collection data for fiscal year 2020

Jun 23 - TTB guidance: Extended tax-free withdrawal of distilled spirits for hand sanitizers (COVID-19)

Jun 22 - Virginia: Pro-forma combined reports due July 1, 2021; certain single-entity unitary businesses required to file

Jun 21 - Request for information, reporting of pharmacy benefits and prescription drug costs by group health plans and health insurance

Jun 21 - KPMG reports: Illinois (manufacturing exemption); Iowa (bonus depreciation); New York State (non-filer liability); Texas (marketplace facilitator)

Jun 18 - IRS practice unit: Concepts of GILTI

Jun 18 - Puerto Rico: “Back to school” sales and use tax exemption

Jun 17 - Rev. Proc. 2021-28: Real property trade or business, 30-year recovery under alternative depreciation system

Jun 17 - Rev. Proc. 2021-29: Process for partnerships applying for 30-year alternative depreciation recovery period for residential rental property

Jun 17 - U.S. Supreme Court: Implications for protective refund claims for ACA-related taxes and fees

Jun 14 - KPMG report: Permanent establishment-related considerations, employees working remotely

Jun 14 - KPMG report: Planning in advance for Biden Administration’s proposed increased tax rates

Jun 14 - KPMG report: Treasury releases the American Families Plan tax compliance agenda

Jun 14 - Updated FAQs concerning PPP loans, nonprofits in Puerto Rico

Jun 14 - KPMG reports: Colorado (marketplace facilitator); Nevada (mining excise tax); Nevada (business tax refunds); Vermont (taxable meal facilitator); Washington State (payroll tax, B&O surcharge)

Jun 11 - AOD 2021-3: Nonacquiescence to Eleventh Circuit decision, professional employer organization’s claims for FICA credits

Jun 11 - IRS practice unit: Partner’s outside basis

Jun 11 - IRS provides FAQs provide guidance for individuals, SMEs under “American Rescue Plan” (COVID-19)

Jun 11 - Rev. Rul. 2021-11: Fringe benefit aircraft valuations, first half of 2021

Jun 10 - Final regulations: Mandatory 60-day postponement of tax deadlines, federally declared disasters

Jun 10 - IRS provides tax relief for taxpayers affected by May 2021 storms in Louisiana

Jun 10 - IRS adds a new compliance campaign (LB&I division)

Jun 10 - Senate Finance Committee approves Treasury Department officials, including Assistant Secretary for Tax Policy

Jun 10 - Notice 2021-36: Future amendments to regulations under sections 59A and 6038A for reporting qualified derivative payments

Jun 7 - Puerto Rico: Reduced sales and use tax for prepared foods involving marketplace facilitators

Jun 7 - Announcement 2021-11: Competent authorities add individual savings plans as eligible for dividend benefits under United States-Switzerland tax treaty

Jun 7 - KPMG reports: New Jersey (Public Law 86-272); New Jersey (NOL carryforward); Maryland (digital advertising services); Tennessee (sales tax holiday); multistate (corporate tax rate reductions)

Jun 7 - KPMG report: Analysis and observations about tax measures in G7 communique

Jun 5 - Communique from meeting of G7 finance ministers and central bank governors

Jun 3 - Illinois: Budget agreement includes corporate tax revenue raisers

Jun 2 - Fifth Circuit: Taxpayer not a “bank” and thus not allowed to deduct certain losses

Jun 2 - Ninth Circuit: FSC used to transfer funds from family business into Roth IRAs (Tax Court reversed)

Jun 2 - United States suspends tariffs on goods from six countries, digital services tax investigations

Jun 1 - IRS provides tax relief for taxpayers affected by February 2021 storms in West Virginia

Jun 1 - KPMG report: Accounting considerations for the UK “super-deduction”

May 2021

May 27 - Rev. Rul. 2021-10: Interest rates, tax underpayments and overpayments (no changes for third quarter 2021)

May 24 - IRS practice unit: Allocation and apportionment of deductions, individual taxpayers

May 24 - KPMG reports: Missouri (remote sellers, marketplace facilitators); Indiana (pharmacy benefits management); Nevada (modified business tax rate)

May 20 - KPMG report: IRS guidance on premium assistance for COBRA benefits (Notice 2021-31)

May 20 - KPMG report: Tax reform proposals—BEAT down, SHIELD up

May 20 - Treasury’s report on proposed tax compliance measures; addressing the “tax gap”

May 20 - Treasury officials participate in OECD meetings, proposal for global corporate minimum tax rate

May 18 - Notice 2021-31: Premium assistance and tax credit for COBRA continuation of health coverage (Q&As)

May 17 - U.S. Supreme Court: Anti-Injunction Act does not bar suit challenging IRS notice requiring information reporting

May 17 - Regulations implementing funding to support state and local governments (COVID-19)

May 17 - KPMG reports: Arkansas (software sales); Idaho (tax rate reductions); Maryland (single-sales factor formula)

May 14 - Announcement 2021-10: Qualified opportunity zone boundaries not affected by 2020 census

May 14 - IRS provides tax relief for taxpayers affected by March 2021 storms in Tennessee

May 13 - IRS offers dyed diesel fuel penalty relief in certain states, response to disruptions to fuel-supply chain

May 11 - Rev. Proc. 2021-26: CFCs changing methods of accounting to alternative depreciation system

May 11 - KPMG report: Overview of R&D tax incentives, by country (2021)

May 10 - Notice 2021-26: Treatment of dependent care assistance programs clarified for 2021 and 2022 (COVID-19)

May 10 - Rev. Proc. 2021-25: HSA inflation-adjusted amounts for 2022

May 10 - Kansas: Income tax credits, sales tax exemptions for investments; high performance incentive program (HPIP)

May 10 - KPMG reports: California (market-based sourcing); California (PPP conformity); Hawaii and Indiana (federal tax conformity); Maine (NOL carryforward)

May 7 - Oil and gas, percentage depletion on marginal properties for 2021, reference price for 2020

May 6 - IRS updates FAQs on relief for retirement plans, IRAs (COVID-19)

May 4 - Kansas: Legislature overrides veto of bill decoupling from TCJA provisions and adopting marketplace facilitator provisions

May 3 - USTR hearings this week, investigations of digital services taxes

May 3 - U.S. Tax Court: Valuation of performer’s image and likeness, music publishing trust and catalog

May 3 - KPMG report: Accounting for income taxes considerations of adopting ASU 2020-06

May 3 - KPMG report: Outlook for what’s ahead for energy tax incentives (updated)

May 3 - KPMG reports: Arkansas (sales tax exemption); Arkansas (NOL add-back); Florida (federal tax conformity); New York City (sale of partnership interest); Washington State (excise tax, capital gain)

April 2021

Apr 30 - Schedules K-2 and K-3 for 2021; intended for enhanced reporting of international tax matters by pass-through entities

Apr 30 - IRS Chief Counsel memo: Treatment of expenses related to aircraft owned and used by sole proprietor

Apr 30 - IRS automatically extends QI / WP / WT certification and waiver application due dates

Apr 29 - IRS provides tax relief for taxpayers affected by March 2021 storms in Alabama

Apr 29 - IRS provides tax relief for taxpayers affected by February 2021 storms in Kentucky

Apr 28 - Treasury proposals for tax administration reforms

Apr 27 - U.S. Tax Court: Legal expenses for FDA approvals capitalized, but those for defending patent infringement suits are deductible

Apr 26 - Renewable electricity, refined coal production inflation factors, reference prices for 2021

Apr 26 - Section 45K: Nonconventional source production credit, reference price for 2020

Apr 26 - KPMG reports: Arizona (federal tax conformity); Illinois (unitary group); Texas (R&D tax credit); Vermont (federal tax conformity)

Apr 26 - Rev. Proc. 2021-23: Modified inflation adjustments, certain tax credits available for individual taxpayers

Apr 23 - Rev. Proc. 2021-21: List of countries eligible for section 911(d)(1) waiver for 2020

Apr 22 - Rev. Proc. 2021-20: Safe harbor, expense deductions for taxpayers that received first-round PPP loans

Apr 22 - Ninth Circuit: Marijuana dispensary’s claimed expenses properly denied

Apr 21 - Tax credits for certain employers providing paid leave to employees receiving COVID-19 vaccines

Apr 21 - Florida: Sales tax economic nexus, marketplace provider laws enacted

Apr 20 - New York State: Tax provisions in enacted budget bills

Apr 20 - KPMG report: State and local tax, technology-related guidance (table, first quarter 2021)

Apr 19 - IRS allows temporary relief from handwritten signature requirement for more tax forms (COVID-19)

Apr 19 - KPMG report: Extended due date for corporate income tax returns (Arizona, Arkansas)

Apr 19 - KPMG reports: Florida (tobacco tax); Maryland (reseller basis for refund); Virginia (reporting unitary combined income)

Apr 15 - Maryland: Taxation of digital advertising services; sales and use tax on digital products and services

Apr 14 - Notice 2021-28: Recommendations for IRS 2021-2022 Priority Guidance Plan

Apr 13 - Notice 2021-24: Penalty relief, reduced federal employment tax deposits in anticipation of tax credits (COVID-19)

Apr 12 - Proposed regulations: Requirements under section 1400Z-2 for foreign persons, partnerships investing in qualified opportunity funds (text of regulations)

Apr 12 - U.S. Tax Court: Split-dollar arrangement distributions; benefits under compensatory arrangement taxable as ordinary income

Apr 12 - KPMG report: Accounting for income taxes considerations of newly expanded section 162(m) excess compensation limitation

Apr 12 - KPMG reports: Maryland (digital advertising, digital products); New York City (services sourcing); Ohio (IP sourcing); West Virginia (apportionment)

Apr 9 - AOD 2021-1: IRS nonacquiescence, defined benefit pension plan not an asset for insolvency exclusion under section 108

Apr 9 - IRS reminder: FBAR filing deadline remains April 15

Apr 9 - IRS suspends requirement to repay excess advance payments of 2020 premium tax credit

Apr 8 - Notice 2021-25: Temporary 100% deduction for certain business meal expenses

Apr 7 - New York State: Tax measures in 2021 budget agreement

Apr 7 - Updated FAQs about PPP loans

Apr 7 - U.S. Treasury removes UAE from list of countries cooperating with international boycott

Apr 7 - OECD: Report on status of international tax agenda, developments

Apr 7 - U.S. Treasury releases report “Made in America Tax Plan”

Apr 6 - KPMG report: Notice 2021-23 and employee retention credit for first two calendar quarters of 2021

Apr 6 - IRS practice unit: Foreign tax credit carryback and carryover

Apr 5 - Puerto Rico: Extended due dates for income tax returns, payments (COVID-19)

Apr 2 - Notice 2021-23: Employee retention credit, for first two quarters of 2021

Apr 2 - IRS practice units: Liquidating distributions of partner’s interest; reasonable cause and good faith

Apr 1 - Advance notice of proposed rulemaking: Beneficial ownership information reporting requirements

Apr 1 - Massachusetts: Reasonable cause, penalty for failure to remit sufficient advance sales tax payment

March 2021

Mar 31 - President Biden announces plans with major business tax proposals

Mar 31 - IRS to recalculate taxes on 2020 unemployment benefits, and automatically to issue refunds

Mar 30 - President Biden signs legislation extending PPP (COVID-19)

Mar 30 - Announcement 2021-6: APMA program, APA statistics for 2020

Mar 30 - IRS guidance for students, higher education institutions on reporting emergency financial aid (COVID-19)

Mar 30 - USTR announces hearings, requests comments about investigations of digital services taxes (Austria, India, Italy, Spain, UK, Turkey (Türkiye))

Mar 29 - Notice 2021-21: Additional tax deadlines extended to May 17

Mar 29 - IRS practice unit: Receipt of dividends or interest from a related CFC

Mar 29 - U.S. Tax Court: Clothing designs and patterns not eligible research expenses

Mar 29 - KPMG report: State, local tax changes (first quarter 2021, table format)

Mar 29 - KPMG reports: Maine (federal tax conformity); New Mexico (disposal services); Wyoming (sales tax, car services); Multiple states (COVID relief funds)

Mar 26 - U.S. next steps in digital services tax investigations

Mar 26 - Announcement 2021-7: Personal protective equipment deductible as medical care expense (COVID-19)

Mar 26 - Rev. Proc. 2021-18: Empowerment zone designation extension procedures

Mar 26 - Massachusetts: Advance payments required for sales and use tax, room occupancy tax, and certain other taxes in April 2021

Mar 25 - Rev. Proc. 2021-17 and Rev. Proc. 2021-19: Guidance under section 143 for issuers of qualified mortgage bonds

Mar 25 - SBA notice for applications, “Shuttered Venue Operators Grant” awards for 2021

Mar 24 - Ninth Circuit: One penalty (not multiple) applies for untimely filing of FBAR reporting multiple bank accounts

Mar 23 - IRS practice unit: Overview of section 965 “transition tax”

Mar 23 - Advance notice of proposed rulemaking pending OIRA review: Beneficial ownership reporting requirements

Mar 22 - SBA to accept “Shuttered Venue Operators Grant” applications beginning April 8, 2021

Mar 22 - KPMG report: Implications of “Little Sandy” opinion on research credit claims

Mar 22 - KPMG report: Update on digital advertising tax (Maryland, Texas, West Virginia)

Mar 22 - KPMG reports: Arkansas (rental excise tax); New York (budget proposals); Oregon (nexus and telecommuting workers); Virginia (federal tax conformity)

Mar 18 - SBA interim final rule concerning PPP loans, reflecting Rescue Act measures

Mar 18 - Updated FAQs about “Shuttered Venue Operators Grant” program

Mar 17 - IRS to extend tax filing deadline to May 17

Mar 17 - Updated FAQs on PPP loans

Mar 16 - IRS practice unit: Sale of a partnership interest

Mar 16 - Updated FAQs under FATCA regime; penalty relief for withholding agents

Mar 15 - Legislative changes to “Shuttered Venue Operators Grant” program and PPP eligibility requirements

Mar 15 - KPMG report: Employer’s role in Rescue Act COBRA subsidies and tax credits

Mar 15 - KPMG report: Tax Court holds microcaptive insurance company arrangement fails; accuracy-related penalties warranted

Mar 15 - KPMG reports: Alabama (composite returns); Massachusetts (pandemic telecommuting); Virginia (combined reporting); Mississippi, Oklahoma, West Virginia (tax reform)

Mar 11 - President Biden signs COVID relief legislation

Mar 11 - President Biden selects nominee for Assistant Secretary, Tax Policy

Mar 11 - IRS provides tax relief for taxpayers affected by winter storms in Louisiana

Mar 10 - Maryland: Guidance on digital products and streaming tax; SaaS determined to be taxable

Mar 10 - Updated information on “Shuttered Venue Operators Grant” program

Mar 8 - KPMG report: States proposing new taxes on financial transactions, wealth and investment income

Mar 8 - KPMG reports: Alabama (city use tax); Connecticut (taxation of remote work); Multistate (federal tax conformity)

Mar 5 - KPMG report: Notice 2021-20 provides much anticipated guidance regarding the employee retention credit for 2020

Mar 3 - Updated FAQs on PPP loans; guidance on second draw PPP loans

Mar 2 - Rev. Rul. 2021-6: Interest rates, tax underpayments and overpayments (second quarter 2021)

Mar 2 - Updated FAQs for QI / WP / WT

Mar 1 - Notice 2021-20: FAQs on employee retention credit, and Paycheck Protection Program loans (COVID-19)

Mar 1 - U.S. Tax Court: First formal communication of “initial determination” asserting civil fraud penalty lacked prior supervisory approval

Mar 1 - KPMG reports: Maine (sales tax, cell phones); Massachusetts (digital advertising): New York State (resale, sales tax); Tennessee (sales tax, professional dues); Wisconsin (dividends-received deduction)

February 2021

Feb 26 - KPMG report: Outlook for what’s ahead for energy tax incentives

Feb 26 - Notice 2021-18: Housing expense limit adjustments, foreign locations for 2021

Feb 25 - IRS focus on improper refund claims relating to domestic production activities deduction

Feb 25 - IRS practice unit: Section 263A computation for producers

Feb 25 - IRS provides tax relief for taxpayers affected by winter storms in Oklahoma

Feb 24 - U.S. Tax Court: Credit card “reward dollars” held taxable income

Feb 22 - IRS provides relief for taxpayers affected by winter storms in Texas

Feb 22 - KPMG reports: Illinois (proposed corporate tax measures); New York State (sales tax, assets acquired under purchase agreement); Pennsylvania (retailer voluntary compliance); Utah (GILTI and FDII)

Feb 19 - IRS announces waiver of dyed fuel penalty in Texas

Feb 19 - Grants for “Shuttered Venue Operators” not available if venue operators filed PPP applications

Feb 18 - IRS allows fax transmission of Form 8023 for section 338 elections by corporations making qualified stock purchases (COVID-19)

Feb 18 - Notice 2021-15: Relief for health FSAs and dependent care assistance programs under “cafeteria plans” (COVID-19)

Feb 18 - Delaware: Unclaimed property, voluntary disclosure program schedule for 2021

Feb 15 - Maryland: Tax on digital advertising services is enacted

Feb 15 - KPMG reports: Alabama (corporate tax); Louisiana (franchise tax); Maryland (taxation of digital products); New York (rental equipment, sales tax)

Feb 15 - IRS practice unit: Interest capitalization for self-constructed assets

Feb 11 - U.S. Tax Court: Research tax credit disallowed

Feb 9 - IRS practice unit: Last in-first out (LIFO) records

Feb 8 - New IRS form for self-employed individuals to claim sick and family leave tax credits (COVID-19)

Feb 8 - KPMG reports: California (medical ultrasound services); Illinois (marketplace facilitators); Oregon (Portland “homeless” tax); Multistate (CEO compensation, excise tax proposals)

Feb 4 - Rev. Proc. 2021-15: Safe harbor, educators deducting out-of-pocket expenses for protective items (COVID-19)

Feb 1 - Announcement 2021-2: Lenders to correct Forms 1099-MISC if previously reported loan payments as income

Feb 1 - Updated FAQs on PPP loans; guidance about “second draw” PPP loans

Feb 1- IRS adds two compliance campaigns (LB&I division)

Feb 1 - KPMG report: Employer-provided student loan repayments, tax-free benefits

Feb 1 - KPMG reports: Like-kind exchange regulations reflect requested changes, retain incidental property rule

Feb 1 - KPMG report: States proposing taxation of online ads, personal data, social media companies (CT, IN, NY, OR, WA)

Feb 1 - KPMG reports: California (tax referendums); Chicago (amusement and lease taxes); New Jersey (combined group); New York State (digital advertising)

January 2021

Jan 29 - IRS provides recordkeeping relief; increased deduction limits for corporate cash contributions for disaster relief

Jan 29 - TTB reminder, federal excise tax return filing dates for 2021

Jan 28 - IRS guidance (updated FAQs), tax credits for small and midsize employers providing paid leave (COVID-19)

Jan 25 - IRS establishes contact-free signature options for power of attorney, authorization forms

Jan 25 - U.S. Tax Court: Early distribution 10% extraction is a tax, not a penalty requiring written supervisory approval

Jan 25 - KPMG report: Review of compensation and benefits-related tax provisions in Consolidated Appropriations Act, 2021

Jan 25 - KPMG reports: Colorado (decoupling measure); Idaho (nonbusiness income); Louisiana (sales tax exemption); New York (online services)

Jan 21 - U.S. Tax Court: Deductions and credits disallowed, foreign corporation did not file tax returns until after notice of deficiency

Jan 21 - Biden Administration imposes temporary freeze on regulations

Jan 20 - KPMG report: COVID relief extended for qualified opportunity funds and investors

Jan 20 - Notice 2021-10: Additional relief for qualified opportunity zones and investors (COVID-19)

Jan 20 - Notice 2021-13: Penalty relief for partnerships, information reporting of partners’ beginning capital account balances for 2020

Jan 19 - KPMG report: Full deduction for business meals provided by a restaurant

Jan 19 - Notice 2021-6: Information returns and payee statements waived regarding PPP, other relief programs (COVID-19)

Jan 19 - Notice 2021-8: Relief from addition to tax, underpayment of individuals’ estimated income tax (COVID-19)

Jan 19 - Notice 2021-11: Employee payroll tax deferral, further postponed (COVID-19)

Jan 19 - PLR: REIT’s distributive share of management fee income disregarded under gross income tests

Jan 19 - Texas: Revised rule for sourcing receipts, revised apportionment regulation

Jan 19 - KPMG reports: Alaska (refund claim); Minnesota (audit notice delivery); New Jersey (combined group); Tennessee (marketplace facilitator)

Jan 19 - KPMG report: Final regulations under section 163(j), limitation on deductions for certain business interest expenses

Jan 15 - KPMG report: Year-in-review list of U.S. federal tax developments for 2020 (as reported in TaxNewsFlash)

Jan 15 - KPMG report: Final and proposed regulations, passive foreign investment company (PFIC) rules

Jan 15 - KPMG report: Final regulations on carbon oxide sequestration credit

Jan 15 - KPMG report: Final regulations on “carried interest” under section 1061

Jan 15 - Rev. Rul. 2021-3: Covered compensation tables for 2021 plan year

Jan 15 - Notice 2021-12: Extended temporary relief, low-income housing credit under section 42 (COVID-19)

Jan 15 - Final regulations released to Federal Register: Excise tax for excess remuneration and excess parachute payment

Jan 14 - President-elect Biden announces “American Rescue Plan”—includes tax components

Jan 14 - U.S. findings from investigations of digital services taxes in Austria, Spain, United Kingdom

Jan 14 - Final regulations released to Federal Register: Air transportation excise taxes

Jan 14 - Final regulations released to Federal Register: Denial of deductions for fines, penalties

Jan 14 - Rev. Proc. 2021-12: Extension of safe harbors; loan forbearance, mortgage loans, lease arrangements of certain trusts (COVID-19)

Jan 14 - Final and proposed regulations: Passive foreign investment company (PFIC) rules (text of regulations)

Jan 14 - Final regulations: Domestic production activities deduction for agricultural, horticultural cooperatives (text of regulations)

Jan 14 - Rev. Proc. 2021-11: Methods for calculating W-2 wages for section 199A(g) by agricultural and horticultural cooperatives

Jan 13 - Final regulations released to Federal Register: Limiting business interest expense deductions under section 163(j)

Jan 13 - Final regulations released to Federal Register: “Carried interest” provision under section 1061

Jan 13 - Final regulations released to Federal Register: Credit for carbon oxide sequestration under section 45Q

Jan 13 - Final regulations: Employer shared-responsibility provisions, health reimbursement arrangements (text of regulations)

Jan 13 - KPMG report: Final section 4960 regulations on excise tax for excess remuneration and excess parachute payment for applicable tax-exempt organizations

Jan 12 - Final regulations: Denial of deductions for fines, penalties (text of regulations)

Jan 11 - Final regulations: Air transportation excise taxes (text of regulations)

Jan 11 - Final regulations: Excise tax on excess compensation, parachute payments made by tax-exempt organizations (text of regulations)

Jan 11 - Final regulations on denial of deductions for fines, penalties; OIRA review completed

Jan 11 - Proposed regulations: Mandatory 60-day postponement of tax deadlines, federally declared disasters

Jan 11 - Delaware: NOL limitation violates state’s Uniformity Clause; possible refund opportunities

Jan 11 - KPMG reports: Louisiana (apportionment); Maryland (extended deadlines); Missouri (sales tax on rentals); Nevada (tax amnesty); Oregon (sales factor)

Jan 8 - Section 4611(b) excise tax on domestic crude oil exports violates Export Clause (federal district court)

Jan 8 - TTB release: Craft beverage measures effective January 2021

Jan 7 - Final regulations on “carried interest” provision under section 1061 (text of regulations)

Jan 7 - Additional customs duties on imports from France suspended, digital services tax investigation

Jan 7 - U.S. findings from investigations of digital services taxes in India, Italy, Turkey (Türkiye)

Jan 6 - Final regulations: Credit for carbon oxide sequestration under section 45Q (text of regulations)

Jan 6 - Rev. Rul. 2021-2: Deduction of eligible expenses allowable, PPP loan forgiveness

Jan 6 - KPMG report: Final regulations on changes to income recognition rules; initial impressions

Jan 6 - Final regulations on “carried interest” provision under section 1061; OIRA review completed

Jan 5 - Final regulations on limiting business interest expense deductions under section 163(j) (text of regulations)

Jan 5 - Final regulations released to Federal Register: Rollover rules for qualified plan loan offset amounts

Jan 5 - Final regulations pending OIRA review: Excise tax on tax-exempt organization compensation

Jan 5 - IRS practice unit: Qualified dividends and capital gains rate differential adjustments

Jan 5 - IRS releases annual revenue procedures for 2021

Jan 5 - Rev. Proc. 2021-10: Process for appealing adverse bond determinations, arbitrage rebate claim denials

Jan 5 - Additional U.S. customs duties effective January 6, 2021; response to French digital services tax

Jan 4 - Notice 2021-7: Temporary relief to value personal use of employer-provided automobile (COVID-19)

Jan 1 - Notice 2021-5: Extended continuity safe harbor, renewable energy projects offshore or on federal land

Jan 1 - Credit for carbon oxide sequestration (section 45Q), OIRA review completed

2020 Articles

December 2020

Dec 31 - Final regulations on limiting business interest expense deductions under section 163(j), OIRA review completed

Dec 31 - Final regulations released to Federal Register: Simplified accounting for small businesses, long-term contracts

Dec 30 - KPMG report: Favorable tax provisions for renewable energy industry enacted

Dec 30 - Final regulations released to Federal Register: Revenue recognition and timing of income inclusion under section 451

Dec 29 - Proposed regulations: Process, user fee for estate tax closing letter

Dec 29 - Rev. Proc. 2021-9: Residential living facility safe harbor election under section 163(j)

Dec 29 - TTB announcement: Permanent reduction of excise tax rates for beer and spirits, tax credits for wine

Dec 29 - KPMG report: Accounting and reporting implications of the CARES Act (updated for December 2020 legislation)

Dec 28 - Final regulations released to Federal Register: Section 162(m) deduction limitation on executive compensation

Dec 28 - Final regulations pending OIRA review: “Carried interest” provision under section 1061 

Dec 28 - Final regulations pending OIRA review: Credit for carbon oxide sequestration (section 45Q)

Dec 28 - KPMG report: President signs year-end funding, COVID-19 relief legislation; tax provisions are enacted

Dec 23 - Final regulations: Simplified accounting for small businesses, long-term contracts (text of regulations)

Dec 23 - KPMG report: State, local tax changes (year-end checklist and fourth quarter 2020)

Dec 22 - Notice 2021-2: Standard mileage rates for 2021

Dec 22 - Notice 2021-3: Extension of relief allowing retirement plan elections, spousal consents to be signed remotely (COVID-19)

Dec 22 - Notice 2021-4: Extension of temporary dyed fuel tax relief, Wisconsin terminals

Dec 22 - KPMG report: Compensation and benefit-related tax provisions in year-end funding and COVID relief legislation

Dec 22 - KPMG report: Year-end funding and COVID relief legislation; charitable giving provisions extended, expanded

Dec 21 - Final regulations: Revenue recognition and timing of income inclusion under section 451 (text of regulations)

Dec 21 - KPMG report: Final regulations, section 162(m) deduction limitation on executive compensation

Dec 21 - Final regulations pending OIRA review: Domestic production activities deduction for agricultural, horticultural cooperatives

Dec 21 - PLR: REIT preferential dividends

Dec 21 - IRS practice units: Determining liability allocations; recourse vs. nonrecourse liabilities

Dec 21 - KPMG reports: Louisiana (inventory tax credit); Massachusetts (accelerated sales tax payment dates); New Jersey (corporation business tax); South Carolina (sales tax, final purchasers)

Dec 18 - Final regulations: Deduction for employee remuneration in excess of $1 million (text of regulations)

Dec 18 - Final regulations: Misdirected direct-deposit refunds

Dec 18 - TTB guidance, extended tax-free withdrawal of distilled spirits for hand sanitizers (COVID-19)

Dec 17 - Final regulations pending OIRA review: Business interest expense deduction limitation under section 163(j)

Dec 16 - KPMG report: SEC comments on accounting for income taxes

Dec 15 - Final regulations released to Federal Register: Parking deduction limitations under section 274

Dec 15 - Final regulations pending OIRA review: Denial of deduction for fines, penalties

Dec 14 - Notice 2020-88: Reallocations of section 48A credits under qualifying advanced coal project program

Dec 14 - Final regulations under section 451(b), OIRA review completed

Dec 14 - IRS provides tax relief for taxpayers affected by Hurricane Zeta (Alabama, Louisiana, Mississippi)

Dec 14 - KPMG reports: Arizona (transaction privilege tax, license renewals); California (property tax, transfers between legal entities); Indiana (software, sales tax); New York (taxable storage services)

Dec 11 - Final regulations: Grandfathered group health plans, health insurance coverage

Dec 11 - FBAR filings: Deadline extended, again, for individuals with signature authority

Dec 11 - Notice 2020-78: Work opportunity tax credit (WOTC) transition relief

Dec 11 - TTB reminder: Due date for tax returns, payments for alcohol industry annual filers

Dec 10 - KPMG report: Final regulations addressing parking deduction limitations under section 274

Dec 10 - Final regulations released to Federal Register: Source of income for certain sales of personal property, inventory

Dec 10 - Updated FAQs on PPP loans; questionnaires to verify loan eligibility and forgiveness

Dec 9 - Final regulations: Qualified transportation and commuting expenses under section 274 (text of regulations)

Dec 9 - IRS contacts taxpayers about qualified opportunity fund requirements

Dec 9 - Notice 2020-86: Q&A guidance on safe harbor retirement plans

Dec 9 - Relief for taxpayers affected by September 2020 storm and flooding (Puerto Rico)

Dec 7 - Final regulations: Rollover rules for qualified plan loan offset amounts (text of regulations)

Dec 7 - KPMG report: Accounting for income taxes, considerations of attribute reduction on emergence from bankruptcy

Dec 7 - KPMG reports: Arizona (individual income surtax); Chicago (cloud services and computer software); West Virginia (sales tax exemption, equipment); Multistate (internet sales)

Dec 4 - Final and proposed passive foreign investment company (PFIC) regulations (text of regulations)

Dec 4 - IRS practice units: Modified simplified production method; costs for UNICAP purposes

Dec 3 - IRS reminder: Employers must file Forms W-2, other wage statements and provide Forms 1099-NEC by February 1, 2021

Dec 3 - Rev. Rul. 2020-28: Interest rates, tax overpayments and underpayments (first quarter 2021)

Dec 2 - KPMG report: Final regulations under section 1031, like-kind exchanges

Dec 2 - IRS to conceal sensitive taxpayer data on business tax transcripts

Dec 1 - Tier 2 tax rates for railroads, no changes for 2021

November 2020

Nov 30 - Final regulations released to Federal Register: Like-kind exchanges

Nov 30 - KPMG report: IRS partnership enforcement ramps up

Nov 27 - Final regulations: Personal exemption at zero, implications for health plan premium tax credit

Nov 27 - Final regulations released to Federal Register: Withholding obligations incident to transfers of interests by foreign partners 

Nov 27 - Final regulations released to Federal Register: Coordinating section 245A and section 951A

Nov 24 - Notice 2020-84: Self-insured health insurance annual fee

Nov 24 - KPMG report: Analysis of final and proposed foreign tax credit regulations

Nov 24 - KPMG report: Final regulations under sections 245A and 954(c)(6) and correcting amendments

Nov 23 - Janet Yellen to be U.S. Treasury Secretary

Nov 23 - Final regulations: Like-kind exchanges (text of regulations)

Nov 23 - Regulations on exception from passive income for foreign insurance companies; OIRA review completed

Nov 23 - KPMG report: Personal tax planning guide for 2021

Nov 23 - KPMG reports: California (wireless service); Massachusetts (sales tax remittances); Massachusetts (non-resident S corporation); Nebraska (GILTI and FDII)

Nov 20 - Final regulations: Coordinating section 245A “extraordinary disposition rule” with section 951A “disqualified basis rule” (text of regulations)

Nov 20 - Proposed regulations: Special enforcement matters, centralized partnership audit regime

Nov 20 - Notice 2020-83: Required amendments list (2020) for qualified retirement plans and 403(b) plans

Nov 20 - PLR: Income received by REIT from leasing of advertising signs affixed to buildings

Nov 19 - Final regulations on like-kind exchanges, OIRA review completed

Nov 19 - IRS Priority Guidance Plan for 2020-2021

Nov 19 - IRS offers clarifications in FAQs addressing interaction of ERC and PPP loans in acquisitions

Nov 19 - Rev. Proc. 2020-51: Safe harbor for claiming deductions by taxpayers that received PPP loans

Nov 19 - Rev. Rul. 2020-27: No deduction of eligible expenses for 2020 if reasonable expectation of PPP loan forgiveness

Nov 18 - U.S. Tax Court: Transfer pricing adjustments, deficiencies upheld

Nov 18 - KPMG report: HMRC proposals may solve many U.K. and U.S. hybridity problems

Nov 18 - Final regulations: ABLE accounts under section 529A

Nov 18 - Regulations pending OIRA review: Final regulations under section 451(b)

Nov 16 - IRS updates FAQs on employee retention credit, interaction with PPP relief (COVID-19)

Nov 16 - Notice 2020-82: Contributions to defined benefit plans, extended due date (COVID-19)

Nov 16 - KPMG report: IRS to respect deduction for elective passthrough entity taxes of various states

Nov 16 - KPMG reports: New York State (digital advertising receipts); Texas (apportionment); Virginia (industrial manufacturing exemption)

Nov 13 - IRS request for comments, Regulations that can be rescinded, modified or waived to assist taxpayers with economic recovery (COVID-19)

Nov 12 - California: San Francisco business tax overhaul measure (and others) approved by voters

Nov 12 - KPMG report: Year-end tariff mitigation and customs valuation compliance strategies

Nov 11 - KPMG report: Election results; preliminary observations regarding effect on future tax agenda

Nov 10 - IRS reminder: QI / WP / WT application deadline, November 24, 2020

Nov 9 - Notice 2020-75: Future regulations, deductibility of payments by partnerships and S corporations for state and local income taxes

Nov 9 - KPMG report: Election results, state and local tax measures

Nov 9 - KPMG report: Modifications to LIBOR-related contracts

Nov 9 - KPMG report: New proposed regulations on average income test

Nov 9 - KPMG reports: Louisiana (sales tax holiday); Tennessee (franchise tax); Washington State (B&O tax nexus)

Nov 6 - Rev. Proc. 2020-50: Additional first year depreciation deduction; late elections allowed, or elections may be revoked

Nov 5 - Final regulations released to Federal Register: Additional first year depreciation deduction under section 168(k)

Nov 5 - Final regulations: Updated life expectancy, distribution period tables for retirement plans (text of regulations)

Nov 5 - Regulations released to Federal Register: Section 864(c)(8) treatment, sale of U.S. trade or business partnership interests on look-through basis

Nov 5 - Rev. Rul. 2020-23, Notice 2020-80: Distributions from terminating section 403(b) plans

Nov 5 - New Jersey: Combined group dividend exclusion, the “fix” is released

Nov 5 IRS updates FAQs for QI / WP / WT

Nov 4 - KPMG report: Year-end deadline to remove mandatory section 162(m) delay provisions in deferred compensation arrangements

Nov 4 - Rev. Proc. 2020-48: Insurance companies, unpaid loss discount factors for 2020 accident year

Nov 4 - Rev. Proc. 2020-49: Extended relief regarding tax-exempt bonds (COVID-19)

Nov 3 - Final rule on public disclosure of health plan and health insurance coverage information

Nov 2 - Final and proposed regulations released to Federal Register: Foreign tax credit (text of regulations)

Nov 2 - KPMG report: Correcting amendments to final regulations, FDII and GILTI (updated November 2, 2020)

Nov 2 - Interim final rule: Accessibility to COVID-19 vaccine for individuals in the United States

Nov 2 - KPMG report: Special considerations for late year like-kind exchanges

Nov 2 - KPMG reports: California (property tax); Indiana (throw-back rule); New Mexico (refund claims); South Carolina (investment tax credit)

October 2020

Oct 30 - KPMG report: Correcting amendments to final regulations, FDII and GILTI

Oct 29 - Proposed regulations: Low-income housing credit, average income test

Oct 29 - Final regulations pending OIRA review: Like-kind exchanges

Oct 26 - Rev. Proc. 2020-45: Inflation adjustments for 2021, individual taxpayers

Oct 26 - Notice 2020-79: Pension plans, cost-of-living adjustments for 2021

Oct 26 - KPMG reports: Louisiana (nexus); New Jersey (corporation business tax)

Oct 26 - KPMG report: Tax relief, updated state and local tax guidance (COVID-19) (updated October 26)

Oct 23 - District of Columbia: Legislation delaying combined reporting deduction, eliminating UBT liquidation exception

Oct 23 - Final regulations released to Federal Register: Consolidated NOLs

Oct 22 - KPMG report: Tax proposals (FAQs) of Biden and Trump campaigns

Oct 22 - IRS releases draft version of Form 1065 instructions, partner tax basis capital reporting

Oct 22 - KPMG report: Comments regarding Rev. Proc. 94-69 and disclosure of change in tax position by large corporate taxpayers after exam is opened

Oct 22 - IRS provides temporary procedures allowing fax of material advisor disclosure statement (COVID-19)

Oct 22 - Regulations pending OIRA review: Exception from passive income for foreign insurance companies

Oct 21 - KPMG report: Final regulations on consolidated NOLs, inclusive of insurance company regulations

Oct 20 - Announcement 2020-40: Termination of United States-Hong Kong shipping agreement; effective January 1, 2021

Oct 19 - FBAR filing extensions clarified; FBAR for 2019 deemed timely if filed by October 31, 2020

Oct 19 - Final regulations released to Federal Register: Eligible terminated S corporations

Oct 19 - IRS field advice memo: Transfer of intangible assets by partners to partnerships intended to shift pre-contribution gain to foreign partners

Oct 19 - Rev. Proc. 2020-46: Waiver of 60-day rollover requirement for retirement plans, IRAs; updated conditions

Oct 19 - Rev. Rul. 2020-24: Withholding and reporting requirements; payments from qualified plans to state’s unclaimed property funds

Oct 19 - Tax relief for taxpayers in California affected by wildfires

Oct 19 - Tax relief for taxpayers in Louisiana affected by Hurricane Delta

Oct 19 - Update on France’s digital services tax; collection expected in December 2020

Oct 19 - KPMG report: IRS compliance campaign spotlights deduction of success-based fees

Oct 19 - KPMG report: Tax relief, updated state and local tax guidance (COVID-19) (updated October 19)

Oct 19 - KPMG reports: Los Angeles (tax amnesty); Tennessee (financial institution exception); Vermont (sale of FCC licenses)

Oct 16 - Final regulations released to Federal Register: Deductions allowed estates, non-grantor trusts

Oct 16 - Rev. Proc. 2020-43: Maximum amount allowed to be newly made available for “excepted benefit” HRAs for 2021

Oct 15 - KPMG report: Initial impressions of final regulations, withholding and reporting obligations on dispositions of certain partnership interests

Oct 13 - Final regulations: Consolidated NOLs (text of regulations released by IRS)

Oct 12 - KPMG report: Summary and initial analysis of Pillar One Blueprint

Oct 12 - KPMG report: Summary and initial analysis of Pillar Two Blueprint

Oct 12 - KPMG report: Treasury responds to insurance comments in proposed and final regulations on foreign tax credit

Oct 12 - KPMG reports: Arizona (sourcing rules); Massachusetts (corporate excise tax); New York City (lease termination fee); Vermont (marketplace facilitators)

Oct 12 - Final regulations on consolidated NOLs, OIRA review completed

Oct 12 - Rev. Proc. 2020-44: Interim guidance, transition from LIBOR and IBOR to alternative reference rates

Oct 9 - Final regulations released to Federal Register: Computing and reporting life insurance reserves

Oct 9 - Final regulations: “Qualifying relative” and personal exemption amount clarified

Oct 9 - IRS Chief Counsel memo: Fraud penalty in TEFRA syndicated conservation easement cases 

Oct 9 - LB&I Focus Guide for FY 2021

Oct 9 - TTB reminder: Alcohol industry, third quarter excise tax returns due October 14

Oct 9 - U.S. Treasury, quarterly list of countries cooperating with international boycott (possible future change)

Oct 8 - Final regulations released to Federal Register: BEAT provisions under section 59A

Oct 8 - FAQs to allow fax submission of paper copy of Form 8886 (reportable transaction disclosures)

Oct 8 - Updated FAQs on PPP loans; extension of deferral period (COVID-19)

Oct 8 - KPMG report: State and local tax, technology-related guidance (table, third quarter 2020)

Oct 7 - Final regulations: Withholding obligations incident to transfers of interests by foreign partners (text of regulations)

Oct 6 - FBAR filing deadline; relief for persons affected by recent natural disasters

Oct 6 - KPMG report: IRS expanded enforcement focus on abusive micro-captive insurance companies

Oct 6 - New IRS compliance campaign on nonresident alien rental income from U.S. property (LB&I division)

Oct 5 - KPMG report: Initial impressions of final and proposed foreign tax credit regulations

Oct 5 - KPMG report: Final regulations on source of income for certain sales of personal property, including inventory

Oct 5 - KPMG report: Practical guide to tax credit ordering and usage rules

Oct 5 - KPMG reports: California (market-based sourcing rules); Hawaii (economic nexus); New Jersey (tax rate increases); South Carolina (business license taxes)

Oct 5 - Tax relief for taxpayers in Florida affected by Hurricane Sally

Oct 5 - Final regulations released to Federal Register: Federal income tax withholding from employees’ wages 

Oct 2 - Notice 2020-76: Relief for health coverage information reporting (now due March 2, 2021)

Oct 2 - Final regulations released to Federal Register: Deductibility of meal and entertainment expenses

Oct 2 - KPMG report: Final regulations on deductibility of meal and entertainment expenses (initial impressions)

Oct 2 - Rev. Rul. 2020-21: Fringe benefit aircraft valuations, second half 2020

Oct 1 - Final regulations: Guidance concerning ABLE accounts (text of final regulations)

Oct 1 - Final regulations: Federal income tax withholding from employees’ wages

Oct 1 - Notice 2020-70: Electronic filing of Form 1040-NR allowed in certain instances

Oct 1 - IRS expands enforcement focus on abusive micro-captive insurance schemes

Oct 1 - IRS practice unit, cost-sharing arrangements with stock-based compensation

Oct 1 - Ohio: State’s Supreme Court holds for taxpayer in CAT sourcing dispute

September 2020

Sep 30 - Final regulations: Deductibility of meal and entertainment expenses (text of regulations)

Sep 29 - Final and proposed regulations: Foreign tax credit (text of regulations)

Sep 29 - Final regulations: Source of income for certain sales of personal property, inventory (text of regulations)

Sep 29 - New IRS compliance campaign on consolidated NOL carryovers (LB&I division)

Sep 28 - Final regulations: Income tax withholding, periodic retirement and annuity payments

Sep 28 - KPMG report: Trump campaign’s tax proposals (FAQs)

Sep 28 - KPMG report: Accounting for income taxes considerations of final regulations

Sep 28 - KPMG report: State, local tax changes (third quarter 2020, table format)

Sep 28 - KPMG reports: Arkansas (online travel company); Colorado (software services); Colorado (combined group); District of Columbia (tech companies)

Sep 24 - Tax relief for taxpayers in Alabama affected by Hurricane Sally

Sep 23 - Final regulations pending OIRA review: Consolidated NOLs

Sep 22 - Announcement 2020-12: No information reporting by lenders, PPP loans forgiven under CARES Act (COVID-19)

Sep 22 - KPMG report: Initial impressions of final and proposed regulations, relief concerning repeal of section 958(b)(4)

Sep 22 - Final and proposed regulations on foreign tax credit; OIRA review completed

Sep 22 - Notice 2020-74: More time for drought-affected farmers, ranchers to replace livestock

Sep 22 - Treasury announces New Markets Tax Credit (NMTC) allocations for 2020, increased to $5 billion

Sep 22 - IRS updated FAQs for QIs / WPs / WTs

Sep 21 - Final and temporary regulations: Section 864(c)(8) and tax treatment on sale of U.S. trade or business partnership interests on a look-through basis

Sep 21 - Final and proposed regulations: Relief provided concerning repeal of section 958(b)(4) (text of regulations)

Sep 21 - Final regulations: Additional first year depreciation deduction under section 168(k) (text of regulations)

Sep 21 - Final regulations: Deductions allowed estates, non-grantor trusts

Sep 21 - KPMG report: Remote seller, marketplace facilitator update (Colorado, Illinois, Mississippi, Tennessee)

Sep 21 - KPMG report: Tax relief, updated state and local tax guidance (COVID-19) (updated September 21)

Sep 21 - KPMG reports: Oregon (motor vehicle use tax); Pennsylvania (corporate economic nexus)

Sep 18 - KPMG report: Biden’s tax proposals (FAQs, updated September 18)

Sep 18 - IRS provides FAQs on “Bridge phase” under Compliance Assurance Process (CAP)

Sep 18 - IRS practice unit: Overall foreign and domestic losses

Sep 17 - Notice 2020-73: Deferred applicability dates for foreign currency guidance under section 987 (income, currency gain or loss of “qualified business unit”)

Sep 17 - Final regulations on additional first-year depreciation under section 168(k), OIRA review completed

Sep 17 - IRS adds four compliance campaigns (LB&I division)

Sep 17 - Tax relief for taxpayers affected by Oregon wildfires

Sep 16 - IRS release on expedited request for letter rulings (COVID-19)

Sep 16 - LB&I directive allows examiners to accept R&D expenses as reported on taxpayer financial statements

Sep 16 - Final regulations: Rehabilitation credit and rules coordinating with other credits, released to Federal Register

Sep 16 - Treasury’s CDFI Fund to consider NMTC requests for reporting extensions (COVID-19)

Sep 15 - Final regulations: Eligible terminated S corporations

Sep 15 - Final regulations: Rehabilitation credit and rules coordinating with other credits (text of regulations)

Sep 15 - IRS practice unit: Overview of dollar value LIFO

Sep 15 - KPMG report: Final regulations on computing and reporting life insurance reserves (initial impressions)

Sep 14 - KPMG report: Biden’s tax proposals (FAQs, updated September 14)

Sep 14 - KPMG report: New safe harbor in proposed like-kind exchange regulations

Sep 14 - KPMG report: Proposed regulations define “real property” for like-kind exchanges

Sep 14 - KPMG report: Tax relief, updated state and local tax guidance (COVID-19) (updated September 14)

Sep 14 - KPMG reports: California (large taxpayer reporting); District of Columbia (sales tax); New Jersey (nexus, foreign corporate limited partner)

Sep 14 - TTB reminder: Extra semi-monthly excise tax periods, five due dates in September 2020 (COVID-19)

Sep 11 - Notice 2020-71: Per diem rates, substantiation of employee lodging, meals, incidentals (2020-2021)

Sep 11 - Tax relief for Puerto Rico taxpayers affected by Tropical Storm Isaias

Sep 10 - Announcement 2020-17: Postponed deadline for reporting, paying excise taxes on minimum required contributions

Sep 10 - IRS expands list of forms and returns available for digital signature (COVID-19)

Sep 10 - IRS practice unit: Foreign-earned income exclusion, audit techniques

Sep 9 - Final regulations, Rev. Rul. 2020-19: Computing and reporting life insurance reserves for insurance companies (text of guidance)

Sep 9 - Notice 2020-66: Medicaid coverage of COVID-19 testing and diagnostic services

Sep 9 - U.S. Tax Court: Timely e-filed return triggers limitations period, even when initially rejected by IRS

Sep 8 - Notice 2020-68: Retirement plan Q&As

Sep 8 - Rev. Proc. 2020-40: Extension of plan amendment deadlines, pre-approved plans

Sep 8 - Rev. Proc. 2020-41: Foreign insurance companies; effectively connected net investment income (2019)

Sep 8 - Regulations on business interest expense deduction limitations under section 163(j); effective date and reliance clarifications and changes

Sep 3 - Business interest expense deduction limitations under section 163(j), regulations released to Federal Register

Sep 3 - KPMG report: Highlights of final BEAT regulations under section 59A

Sep 3 - Final regulations: Nuclear power plant decommissioning

Sep 3 - Rev. Rul. 2020-18: Interest rates, tax overpayments and underpayments (fourth quarter 2020)

Sep 3 - KPMG report: Regulations under sections 245A, 951A, 954 (GILTI); treatment of dividends from foreign corporations

Sep 3 - Regulations pending OIRA review: Section 168(k) final regulations on additional first-year depreciation

Sep 1 - Final regulations: BEAT provisions under section 59A (text of regulations)

Sep 1 - Notice 2020-69: Future regulations to apply sections 951 and 951A to certain S corporations with accumulated earnings and profits

Sep 1 - Regulations pending OIRA review: Foreign tax credit

Sep 1 - Eleventh Circuit: Settlement proceeds not return of capital, but taxable income

Sep 1 - IRS launches BBA centralized partnership audit regime webpage

Sep 1 - KPMG report: Telemedicine and tax (COVID-19)

August 2020

Aug 31 - U.S. Tax Court: IRS supervisory approval for penalty assessment

Aug 31 - IRS provides tax relief to taxpayers affected by Hurricane Laura

Aug 31 - KPMG reports: Cincinnati (consolidated returns); District of Columbia (opportunity zones); North Carolina (inter-company pricing initiative)

Aug 31 - KPMG report: Initial analysis of Notice 2020-65, guidance on employee payroll tax deferral

Aug 28 - Notice 2020-65: Implementing executive action, employment tax deferral (COVID-19)

Aug 28 - IRS temporarily allows digital signing of certain forms and returns, including Form 1120 series, e-file authorizations, Form 8832 check-the-box elections

Aug 28 - PLR: Payments under wireless service agreements constitute rents from real property for REIT

Aug 27 - IRS opens application period for 2021 Compliance Assurance Process (CAP) program

Aug 27 - IRS practice unit: Foreign-earned income for purposes of section 911

Aug 26 - U.S. Tax Court: Pre-TCJA section 199 deduction claimed for processed seismic data

Aug 26 - Senate Finance Committee report on syndicated conservation-easement transactions

Aug 25 - IRS provides tax relief for taxpayers affected by California wildfires, Iowa derecho

Aug 24 - KPMG report: Biden’s tax proposals (updated FAQs)

Aug 24 - Final regulations: “BEAT” provisions under section 59A, OIRA review completed

Aug 24 - IRS interim guidance on designation of cases for litigation

Aug 24 - IRS reminder, required minimum distribution rollovers, repayments due by August 31 (COVID-19)

Aug 24 - KPMG report: Tax relief, updated state and local tax guidance (COVID-19) (updated August 24)

Aug 24 - KPMG reports: Arizona (ballot initiative, tax surcharge); Nebraska (sales tax, cellular equipment); Tennessee (interest expense carryforwards)

Aug 21 - Regulations under sections 245A, 951A, 954; treatment of dividends from foreign corporations (text of regulations)

Aug 21 - Announcement 2020-13: Competent authority arrangement implementing arbitration process, United States-Switzerland tax treaty

Aug 21 - IRS statement on failure-to-deposit penalties, employers claiming new tax credits (COVID-19)

Aug 21 - Notice 2020-63: New IRS address for vehicle section 30B certifications, reporting

Aug 20 - United States-Hong Kong International Shipping Agreement suspended or terminated

Aug 19 - IRS practice units: LIFO pooling requirements; distributions not from accumulated earnings and profits

Aug 17 - IRS makes electronic filing available for Form 1040-X

Aug 17 - Proposed regulations: Rollover rules for qualified plan loan offset amounts

Aug 17 - IRS reminder, last round of ITINs expiring in 2020; renewal encouraged to prevent refund delays

Aug 17 - KPMG report: Proposed regulations on qualified parking deductions

Aug 17 - KPMG reports: Georgia (sales tax refund, computers); Minnesota (sale of subsidiary); Missouri (sales tax, amusement); North Carolina (bankruptcy)

Aug 14 - Rev. Proc. 2020-39: Normalization rules for public utilities, 2017 tax law changes (TCJA)

Aug 14 - IRS practice unit: Section 986(c) gain or loss, pre-2017 tax law (TCJA)

Aug 13 - KPMG report: Analysis of final and proposed regulations, high-tax exception under GILTI and subpart F

Aug 13 - IRS reminder of heavy highway use tax deadline, August 31

Aug 13 - Notice 2020-60: Community newspaper pension plans, alternative minimum funding standards

Aug 12 - IRS adds new FAQ on like-kind exchanges and deadlines (COVID-19)

Aug 12 - KPMG report: Proposed regulations on carried interest, initial analysis

Aug 12 - FAQs on PPP loans; payments of fees and health benefits (COVID-19)

Aug 12 - Announcement 2020-14: Increased user fees for employee plan rulings and determinations

Aug 12 - Second Circuit: Income from gravel mined on Indian tribal land, taxable

Aug 10 - KPMG report: Initial impressions about presidential memorandum on deferring payroll tax obligations (COVID-19)

Aug 10 - KPMG report: Deposits of federal employment taxes for equity-related transactions

Aug 10 - KPMG report: IRS addresses settlement period for stock options

Aug 10 - KPMG report: Taxation of advance sales of future mineral production

Aug 10 - KPMG report: Tax relief, updated state and local tax guidance (COVID-19) (updated August 10)

Aug 10 - KPMG reports: Arizona (airport trip fees); Maryland (premium-receipts tax); New Jersey (cash grant incentives)

Aug 8 - Executive memorandum: Deferral of collection of payroll taxes (COVID-19)

Aug 8 - Regulations under section 954, coordinating rules under sections 245A and 951A; OIRA review completed

Aug 7 - Final regulations: Payments made to charities in return for consideration (text of regulations)

Aug 7 - Notice 2020-55: Postponed deadline, federal excise tax for sports fishing, archery equipment (COVID-19)

Aug 6 - Proposed regulations on “carried interest” (section 1061) released to Federal Register

Aug 6 - Notice 2020-61: Special rules for single-employer defined benefit pension plans (COVID-19)

Aug 6 - Notice 2020-62: Safe harbor explanations about eligible rollover distributions (COVID-19)

Aug 6 - California: Property tax increase pending in November ballot initiative

Aug 5 - KPMG reports: Initial analysis of regulations, guidance under section 163(j) (printable version)

Aug 5 - KPMG report: Tax and trade considerations for U.S. inbound investment

Aug 5 - Final regulations pending OIRA review: “BEAT” provisions under section 59A

Aug 4 - FAQs address PPP loan forgiveness issues (COVID-19)

Aug 4 - KPMG report: Biden’s tax proposals (FAQs)

Aug 4 - KPMG report: Tax issues that banks are facing due to COVID-19

Aug 4 - KPMG reports: Initial analysis of regulations, guidance under section 163(j)

Aug 3 - Status of OIRA review of regulations under 2017 tax law

Aug 3 - IRS issues FAQs on leave-sharing plans (COVID-19)

Aug 3 - IRS updated FAQs on retirement plan distribution rules, partial terminations (COVID-19)

Aug 3 - KPMG reports: Iowa (GILTI); North Carolina (transfer pricing); Pennsylvania (income producing activity test)

July 2020

Jul 31 - Final regulations: Rule for swaps with significant nonperiodic payments

Jul 31 - TTB resources: Distilled spirits plant, resources for determining excise tax owed

Jul 31 - IRS updates FAQs on deferral of employment tax deposits, payments (COVID-19)

Jul 31 - Proposed regulations under section 1061, “carried interest” rules (text of regulations)

Jul 31 - KPMG report: Analysis of final FDII regulations

Jul 30 - IRS concept unit on accuracy-related penalties, tax professionals urge caution

Jul 30 - Proposed regulations: Simplified accounting for small businesses, long-term contracts (text of regulations)

Jul 30 - Notice 2020-58: Rehabilitation credit under section 47, deadline relief (COVID-19)

Jul 29 - Proposed regulations: Excise taxes on air transportation of persons or property; aircraft management services exemption

Jul 29 - IRS’s temporary procedure for filing Form 3115, accounting method changes (COVID-19)

Jul 29 - IRS practice units: Receipts from related CFC; accuracy-related penalties

Jul 28 - Regulations, IRS guidance: Business interest expense deduction limitations under section 163(j) (text of regulations and guidance)

Jul 27 - Regulations: Refundable employment tax credits; assessment for erroneous refundable credits (COVID-19)

Jul 27 - KPMG reports: Nevada (tax amnesty); Washington State (B&O tax, loans)

Jul 27 - IRS offers tax relief for Michigan storm and Utah earthquake victims

Jul 24 - Regulations: Rules for refundable employment tax credits (COVID-19)

Jul 22 - Senate Finance Committee leaders' statement on UK’s digital services tax

Jul 22 - Delaware: Court holds enforcement of unclaimed property subpoena would constitute abuse

Jul 21 - KPMG report: Initial impressions about final and proposed regulations, high-tax exception under GILTI and subpart F

Jul 20 - Regulations: GILTI and subpart F high-tax exception (text of final and proposed regulations)

Jul 20 - Proposed regulations on “carried interest” rules under section 1061; OIRA review completed

Jul 20 - PLR: Taxable REIT subsidiary found not operating a disqualifying healthcare facility

Jul 20 - IRS practice unit: Foreign tax credit limitation and computation

Jul 20 - KPMG reports: D.C. (advertising, sales tax); Georgia (electricity); Ohio (electronic information services); Oregon (electricity); South Carolina (electricity)

Jul 17 - Regulations pending OIRA review: Section 954, and coordinating rules under sections 245A and 951A

Jul 17 - U.S. Treasury, quarterly list of countries cooperating with international boycott (no changes)

Jul 16 - U.S. Treasury awards $3.548 billion in New Markets Tax Credit (NMTC) allocations

Jul 15 - IRS closures of several P.O. Box addresses for business tax payments including employment tax payments

Jul 15 - IRS notification regarding delay in processing advance payment of employer credits

Jul 14 - Proposed changes to Form 1065 for partnerships with international tax items

Jul 14 - Regulations on limiting business interest expense deductions under section 163(j); OIRA review completed

Jul 14 - IRS LB&I division releases practice units for IRS examiners

Jul 14 - U.S. investigation of French digital services tax; additional 25% customs duties suspended until January 2021

Jul 13 - KPMG report: Remote seller, marketplace facilitator update (Mississippi, North Carolina, Rhode Island, Tennessee)

Jul 13 - KPMG reports: California (market-based sourcing); Illinois (sales tax); San Francisco (transfer tax); San Francisco (payroll tax); Seattle (payroll tax)

Jul 10 - KPMG report: Initial impressions of final regulations related to deduction for FDII and GILTI under section 250

Jul 10 - KPMG report: IRS reaffirms property owned by tax equity partnership is not public utility property (PLR)

Jul 10 - Proposed regulations: Grandfathered group health plans, group health insurance coverage

Jul 9 - Final regulations: Deduction under section 250, FDII and GILTI (text of regulations)

Jul 9 - Notice 2020-54: Reporting qualified sick leave, qualified family leave wages (COVID-19)

Jul 8 - OIRA review completed: Regulations on high-taxed GILTI exclusion, subpart F income

Jul 8 - Ninth Circuit: Oregon’s taxation of railroad intangible property held discriminatory

Jul 8 - Rev. Proc. 2020-37: Automobile depreciation deduction limits for 2020

Jul 7 - IRS memorandum for TE/GE employees, modified examination timelines (COVID-19)

Jul 7 - KPMG report: Insurance-related measures in consolidated NOL regulations

Jul 6 - States enacting federal tax conformity measures, new fiscal year starting July 1

Jul 6 - FAQs on coronavirus relief fund payments to states, local governments (COVID-19)

Jul 6 - IRS provides FAQs on treatment of certain payments to health care providers (COVID-19)

Jul 6 - IRS adds section 965 compliance campaign under TCJA (LB&I division)

Jul 6 - IRS practice unit: Reasonable cause and good faith

Jul 2 - Regulations: Consolidated net operating losses (text of regulations)

Jul 2 - Federal Circuit: Jurisdiction for tax overpayment interest claims

Jul 2 - LB&I memo on activities postponed, continued and resuming (COVID-19)

Jul 1 - Proposed regulations: Low-income housing credit compliance-monitoring duties under section 42

Jul 1 - Notice 2020-53: Temporary relief, low-income housing credit under section 42 (COVID-19)

KPMG reports on U.S. responses to COVID-19

KPMG’s reports including analysis and observations on responses to the coronavirus (COVID-19) pandemic in the United States 

Read KPMG's reports on U.S. responses to COVID-19

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