IRS SEEKS RECOMMENDATIONS FOR 2018-2019 GUIDANCE PRIORITY LIST

Notice 2018-43, 2018-20 IRB

IRS is requesting recommendations for items that should be included on the 2018-2019 Guidance Priority List. The deadline to submit recommendations for the initial list is June 15, 2018.

Background. IRS uses the Guidance Priority List each year to identify and prioritize the tax issues that should be addressed through regs, revenue rulings, revenue procedures, notices, and other published administrative guidance.

2018-2019 list. The 2018-2019 Guidance Priority List will establish the guidance that IRS intends to issue from July 1, 2018 through June 30, 2019. IRS stated that it recognizes the importance of public input to formulate a Guidance Priority List that focuses resources on guidance items that are most important to taxpayers and tax administration.

IRS noted that since the Tax Cuts and Jobs Act (TCJA; P.L. 115-97, 12/22/2017) was signed into law in December 2017, it has focused its efforts on guidance projects necessary to implement the TCJA, and expects to continue to do so. Thus, IRS does not expect to complete several of the guidance projects on the 2017-2018 Priority Guidance Plan, which may be carried over to the 2018-2019 Priority Guidance Plan.

In reviewing recommendations and selecting projects for inclusion on the 2018-2019 Guidance Priority List, IRS said it will consider whether the recommended guidance:

  • Would resolve significant issues relevant to many taxpayers;
  • Would reduce controversy and lessen the burden on taxpayers or IRS;
  • Involves regs or other guidance that is outmoded, unnecessary, ineffective, insufficient, or excessively burdensome, and that should be modified, streamlined, expanded, replaced, or withdrawn;
  • Would be in accordance with Executive Order 13771, Executive Order 13777, or other executive orders;
  • Would promote sound tax administration;
  • Could be administered by IRS on a uniform basis; and
  • Could be drafted in a manner that will enable taxpayers to easily understand and apply it.

How to submit recommendations. Although taxpayers may submit recommendations throughout the year, recommendations should be submitted by June 15, 2018 for possible inclusion on the original 2018-2019 Guidance Priority List. IRS may update the Guidance Priority List periodically to reflect additional guidance that it intends to publish during the plan year. The periodic updates allow IRS to respond to the need for additional guidance that may arise during the plan year, IRS said.

Taxpayers are not required to submit recommendations for guidance in a particular format. Taxpayers should briefly describe the recommended guidance and explain the need for the guidance. In addition, taxpayers may include an analysis of how the issue should be resolved, said IRS.

Written comments should be sent to: Internal Revenue Service, Attn: CC:PA:LPD:PR (Notice 2018-43), Room 5203, P.O. Box 7604, Ben Franklin Station, Washington, D.C. 20044; or hand delivered between 8 a.m. and 4 p.m. to: Courier’s Desk, Internal Revenue Service, Attn: CC:PA:LPD:PR (Notice 2018-43), 1111 Constitution Avenue, N.W., Washington, D.C. 20224.

Comments may also be submitted via the federal eRulemaking portal at regulations.gov (type “IRS-2018-0010” in the search field on the homepage to find the notice and submit comments). All comments will be made available for public inspection and copying in their entirety.

From Checkpoint Newsstand, Thomson Reuters

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