The House has passed a bill that would end judicial deference to agency rules and statutory interpretations when regulations are challenged.
FinCEN extends filing deadline for certain individuals to file the Report of Foreign Bank and Financial Accounts.
Delaware proposes major unclaimed property reform incorporating provisions from the RUUPA and addressing current challenges.
Revised ruling procedures forego suggestion to reduce fees for routine requests. The IRS may no longer consider certain requests.
IRS extends initial disclosure filing due date to May 1, 2017; this due date is not affected by tax return filing deadlines.
Rev. Proc. 2017-1, updated annually, revises IRS procedures for handling letter ruling requests and updates the user fees schedule.
Taxpayers operating in countries where country-by-country rules have been adopted may have filings due in 2016.
Final passive foreign investment company rules provide relief from PFIC reporting rules to taxpayers in a variety of situations.