Federal tax news highlights for week ending June 24, 2017:
- In addition to the Senate Republicans health care discussion draft, a bipartisan group of senators introduced a student savings bill (CCH subscribers). Congress also saw the House approve a bipartisan nuclear production tax credit bill.
- The Treasury Inspector General for Tax Administration (TIGTA) issued several reports, including a review of employment tax identity theft (CCH subscribers), and frivolous tax claims (CCH subscribers).
- The IRS reopened the Preparer Tax Identification (PTIN) system (CCH subscribers). The IRS also began accepting renewal applications for Individual Taxpayer Identification Numbers (ITINs); and “No one would be more delighted with a simplified tax code than IRS employees,” said IRS Commissioner John Kokinen, sharing his perspectives with the IRS-Tax Policy Center Joint Research Conference on Tax Administration in Washington, D.C., June 21.
By Jessica Jeane and George L. Yaksick, Jr., Wolters Kluwer News Staff