Internal Revenue Service October 15, 2018 – Federal Register Recent Federal Regulation Documents

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Guidance Regarding the Transition Tax Under Section 965 and Related Provisions; Hearing

Document Number: 2018-22345

Type: Proposed Rule

Date: 2018-10-15

Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury

This document provides a notice of public hearing on proposed regulations relating to section 965 of the Internal Revenue Code as amended by the Tax Cuts and Jobs Act, which was enacted on December 22, 2017.

https://regulations.justia.com/regulations/fedreg/2018/10/15/2018-22345.html

Removal of Regulations on Advance Payments for Goods and Long-Term Contracts

Document Number: 2018-22025

Type: Proposed Rule

Date: 2018-10-15

Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury

This notice of proposed rulemaking proposes to streamline IRS regulations by removing regulations that are no longer necessary after the enactment of recent tax legislation. Specifically, these regulations would remove existing regulations regarding advance payments for goods and long-term contracts. The regulations would affect accrual method taxpayers who receive advance payments for goods, including those for inventoriable goods.

https://regulations.justia.com/regulations/fedreg/2018/10/15/2018-22025.html