Federal Tax Headlines

Individuals can now buy “short-term limited-duration insurance” (or “STLDI”) contracts that last up to nearly a year.  These contracts are not subject to the Affordable…

Proposed regulations allow taxpayers to make tax-free replacements of interest rates tied to LIBOR (London Interbank Offered Rate) in debt instruments and non-debt contracts. Taxpayers…

Recent IRS guidance on cryptocurrency concludes that owners realize income when a hard fork is followed by an airdrop. Although many other cryptocurrency issues remain…

Starting in 2020, employers can set up individual coverage health reimbursement arrangements (ICHRAs) for employees and related individuals.  An ICHRA can reimburse an employee for…

The IRS has updated its hardship distribution rules for 401(k) and tax sheltered annuity 403(b) plans.  The new rules add a disaster expense safe harbor.…

In 2019, a partnership likely will have to report how many foreign partners were subject to 10% withholding because an interest in the partnership was…

Draft Form 1065, draft Schedule K-1, and draft Form 1120-S would require partnerships and S corporations to report more details on their activities than before.…

Farmers who receive payments in 2019 under the U.S. Department of Agriculture’s Market Facilitation Program (MFP) must include the payments in gross income. They also…

New final and proposed regulations explain how to determine the acquisition date of constructed property that can qualify for 100% bonus depreciation (Reg. §1.168(k)-2(b)(5); Proposed…

“A thumb goes up, a car goes by…,” tax extenders remain a top contender for “hitching a ride” on November’s must-pass government funding bill. New Tax Extenders Climate…