Current Federal Tax Developments for the week of September 10, 2018: SALT Clarification - Well, Not Really

This week we look at the following items:

• South Dakota to hold a special session so the state can begin to take advantage of their victory in the Wayfair case
• Taxpayer who withdrew IRA funds based on a notice of intent to levy cannot escape 10% additional tax
• IRS clarifies the application of the proposed SALT regulations leading to a bevy of questions
• IRS memorandum concludes seismic fees for offshore drilling must be amortized and cannot be treated as intangible drilling costs
• President issues an Executive Order for DOL and Treasury to consider certain changes to retirement plans
• Tax Court disagrees with the IRS’s view on how §1291(c) gains interact with six year statute

An audio only version of this week's broadcast can be streamed or downloaded below:

A PDF with the articles from this week's broadcast can be downloaded below.

2018-09-10 Current Federal Tax Developments