Issue Number: 2019-18
Inside This Issue
IRS Unveils Proposed W-4 Design for 2020
Early Bird Rate for Nationwide Tax Forums Expires June
June 6 Webinar: Foreign Earned Income Exclusion
Enrolled Agent User Fee Increases Nov. 1
Reminder: Recent Changes to Business Deductions and
1. IRS Unveils Proposed W-4 Design for 2020
The IRS today issued a draft of
the 2020 Form W-4, Employee's Withholding Allowance Certificate (PDF), that
will make accurate withholding easier for employees starting next year.
“The new draft Form W-4
reflects important feedback from the payroll community and others in the
tax community,” said IRS Commissioner Chuck Rettig. “The primary goals of
the new design are to provide simplicity, accuracy and privacy for
employees while minimizing burden for employers and payroll processors.”
The IRS expects to
release a near-final draft of the 2020 Form W-4 in mid-to-late July to give
employers and payroll processors the tools they need to update systems
before the final version of the form is released in November. To make
additional improvements to this initial draft for 2020, the IRS is now
accepting comments for 30 days. To facilitate review of this form,
IRS is also releasing FAQs about the new
2. Early Bird Rate for Nationwide Tax Forums
Expires June 15
Have you registered
for the IRS Nationwide Tax Forums? The early bird rate of $235 expires on
June 15. Sign up now for the lowest available rate and take advantage of
the opportunity to earn up to 19 continuing education credits from a choice
of 43 seminars and workshops. To learn more and to register, visit the 2019 IRS Nationwide Tax Forums.
3. June 6 Webinar: Foreign Earned Income Exclusion
The webinar, Foreign Earned Income Exclusion,
will be presented on Thursday, June 6 at 2 p.m. ET. This 100-minute webinar
will explain the concept of tax home for foreign earned income exclusion,
summarize the bona fide residence and physical presence tests, and specify
the effect of the foreign earned income exclusion on other credits and
deductions. Tax professionals can earn two continuing education credits.
For information on
future webinars, visit the Upcoming Webinars page
4. Enrolled Agent User Fee Increases Nov. 1
The Enrolled Agent
application and renewal user fee increases from $30 to $67, effective Nov.
1. Applications and renewals are electronically submitted via Pay.gov.
The final regulations
authorizing the increase were recently published in the Federal Register.
5. Reminder: Recent Changes to Business Deductions
The Tax Cuts and
Jobs Act (TCJA) repealed some business deductions and made changes to
others. In addition to some of the more commonly discussed changes, TCJA
also repealed the deduction for domestic production activities (DPAD) and
amended Section 162 to deny a deduction for any amount paid to or at the
direction of a government entity in relation to the violation of a law
unless an exception is met. See Notice 2018-23.
TCJA also changed
the way affiliated groups allocate interest expenses. See Comparison of changes to rules for
business deductions under TCJA. Updates on this and other TCJA
provisions can be found on the Tax Reform page of IRS.gov.