Notice 2019-11
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Weekly IRS Roundup March 18 – 22, 2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of March 18 – 22, 2019.

March 18, 2019: The IRS cancelled a public hearing originally scheduled for March 20th on proposed regulations on hybrid arrangements under Sections 245A and 267A of the code.

March 19, 2019: The IRS issued Revenue Procedure 2019-14 providing issuers of qualified mortgage bonds and issuers of mortgage credit certificates the nationwide average purchase price for residences located in the United States, and the average area purchase price safe harbors for residences located in certain statistical areas.

March 20, 2019: The IRS requested comments on the treatment of distributions by foreign corporations and coordination with nonrecognition provisions. Comments should be received by May 20, 2019.

March 20, 2019: The IRS issued a news release announcing the conclusion of what it refers to as the “dirty dozen” list of tax scams.

March 21, 2019: The IRS issued Revenue Ruling 2019-09 suspending two revenue rulings from 1957 pending the completion of a study regarding the active trade or business requirement under Sections 355(a)(1)(C) and (b) of the code.

March 22, 2019: The IRS issued Proposed Regulations on new information reporting requirements for certain life insurance companies under Section 6050Y of the code.

March 22, 2019: The IRS issued Notice 2019-25 modifying and superseding Notice 2019-11. The notice increases the availability of the waiver of the addition to tax for underpayment of estimated income tax for certain individuals for 2018.

March 22, 2019: The IRS issued Notice 2019-26 updating mortality improvement rates and static mortality tables for determining the minimum funding requirements under § 430(h)(3) for 2020. The notice also updates the minimum present value under § 417(e)(3) for distributions with annuity starting dates that occur during stability periods beginning in the 2020 calendar year.

Special thanks to Terence McAllister in our New York office for this week’s roundup.




Weekly IRS Roundup January 14 – 18, 2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 14 – 18, 2019.

January 15, 2019: The IRS issued final regulations implementing the transition tax under section 965 of the Code, enacted as part of the Tax Cuts and Jobs Act.

January 15, 2019: The IRS released an updated contingency plan describing its actions and activities in light of the partial federal government shutdown.

January 16, 2019: The IRS released Notice 2019-11, providing a penalty waiver, under certain conditions, for an individual taxpayer’s underpayment of withholding and estimated income tax, in light of the major changes made by the Tax Cuts and Jobs Act.

January 18, 2019: The IRS issued final regulations providing guidance on the deduction for qualified business income under section 199A of the Code, enacted as part of the Tax Cuts and Jobs Act.

January 18, 2019: The IRS released proposed regulations dealing with previously suspended losses and ownership interests in certain entities for purposes of calculating the deduction under section 199A of the Code, enacted as part of the Tax Cuts and Jobs Act.

January 18, 2019: The IRS released Revenue Procedure 2019-11, providing methods for calculating W-2 wages for purposes of the deduction under section 199A of the Code, enacted as part of the Tax Cuts and Jobs Act.

January 18, 2019: The IRS released Notice 2019-07, proposing a safe harbor for rental real estate enterprises for purposes of the deduction under section 199A of the Code, enacted as part of the Tax Cuts and Jobs Act.

Special thanks to Le Chen in our DC office for this week’s roundup.




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