At the American Bar Association Section of Taxation 2018 May Meeting in Washington D.C, held on the 10th through the 12th, the acting Commissioner of the IRS shared the anticipated release dates for official guidance on many of the projects implementing the recently-enacted Tax Cuts and Jobs Act. While some guidance will be provided within the next few months, other, more complex projects are anticipated to take longer.
The known target dates are as follows:
- 965 Deemed Repatriation - Notice in the next few weeks, proposed rulemaking this summer
- Forms and Instructions - June 2018
- 168(k) – Bonus Depreciation - Regulations released summer 2018
- 199A – Pass-through deduction - Proposed regulations released mid / late July 2018
- 163(j) – Business Interest Deduction Limitation - Notice is expected late summer / early fall
- Global Intangible Low-Taxed Income (GILTI) - Planned for late summer
- Base Erosion and Anti-Abuse Tax (BEAT) - Planned for November / December 2018
Please contact your DHG tax advisor for more information.