Tax regulations

Once health care is tamed, President Donald Trump and Congress will turn to other bears, such as the byzantine U.S. tax code. Conveniently, a new report has come out on legal tax avoidance.

The three at issue halted new regulations that haven't yet been published, asked federal agencies to ease the burden of the ACA, and required them to abolish two regs for every new one.

The American Institute of CPAs has sent a set of proposed guidelines to the Internal Revenue Service recommending how the IRS should deal with the allocation of unrelated business income expenses of tax-exempt organizations for dual-use facilities and personnel.

The Internal Revenue Service is temporarily delaying issuance of additional rules while evaluating the impact of executive orders from President Trump, and scaling back enforcement of the individual mandate under the Affordable Care Act.

Democrats on the tax-writing House Ways and Means Committee are objecting to a resolution from House Republicans to repeal recently finalized Treasury Department rules that would discourage corporate tax inversions.

For many years, corporate accounting professionals have been taking advantage of cost segregation studies to provide significant tax benefits for their businesses by accelerating the depreciation on qualified fixed assets.

The Internal Revenue Service has issued a notice outlining special procedures for handling the estates of same-sex couples.

One of only two political appointees at the Internal Revenue Service steps down ahead of the incoming Trump administration and is replaced by his deputy.

The Internal Revenue Service has issued a notice for determining the value of personal use of employer-provided vehicles under the Income Tax Regulations’ special valuation rules.

Notice says account transcript that includes a transaction code of “421” and the explanation “Closed examination of tax return” can serve as the functional equivalent of an estate tax closing letter.