Current Federal Tax Developments

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2018-10-29 More Guidance to Come

This week we look at the following items:

  • Court finds IRA and plan balance received in divorce not protected in bankruptcy

  • Interest limitation proposed regulations (except for passthroughs) heads to OMB

  • Connecticut crumbling foundation relief clarified to also create NOLs that can be carried back in 2018

  • PTIN renewal opened up by the IRS

  • OMB announces plans for guidance on TCJA loss limitation rules--but not planned to be out until June 2019

  • Taxpayer denied innocent spouse relief.

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2018-10-29 More Guidance to Come Ed Zollars, CPA (Kaplan Professional Education)