Issue Number: 2019-21
IRS Commissioner to Highlight Nationwide Tax Forums;
Give Keynote in National Harbor, Four Other Cities
IRS Says Millions of ITINs to Expire in 2019
Electronic Tax Administration Advisory
Committee Releases Annual Report
National Taxpayer Advocate Issues Final Report to
June 27 Webinar: Determining Tax Residency Status
Tax Relief for Ohio, Oklahoma and Arkansas Disaster
Tax Reform Changes to Controlled Foreign Corporations;
Subpart F Income
Guidance on Global Intangible Low-Taxed Income
1. IRS Commissioner to Highlight Nationwide Tax
Forums; Give Keynote in National Harbor, Four Other Cities
Charles Rettig will deliver the keynote speech at the Washington, D.C.-area
IRS Tax Forum and at four other tax forum locations this summer. Rettig
will share his insights into both the challenges and the opportunities
facing the tax system and give attendees an inside look at what’s ahead.
The 2019 Nationwide
Tax Forums, which kick off in just over two weeks
at National Harbor outside Washington, D.C., will feature special sessions
on tax reform changes, cybersecurity and much more. Tax professionals can
earn up to 19 continuing education credits.
certified public accountants, certified financial planners, Annual Filing
Season Program participants and other tax professionals can register for
the National Harbor Forum through June 25 at the standard rate of $255.
Registration is available after that date for $370.
Register now and save
over 30 percent.
The 2019 Nationwide Tax Forums will continue in Chicago, July 23-25; New
Orleans, Aug. 6-8; Orlando, Aug. 13-15; and San Diego, Sept. 17-19.
2. IRS Says Millions of ITINs to Expire in 2019
The IRS has begun accepting renewal applications
for ITINs (Individual Taxpayer Identification Numbers) that have not been
used on a federal tax return at least once in the last three years and
those with middle digits 83, 84, 85, 86 or 87. If not renewed, these ITINs
will expire at the end of the year.
clients with expiring ITINS to submit their renewal applications now
if they have a tax filing requirement next year.
3. Electronic Tax Administration Advisory Committee
Releases Annual Report
The Electronic Tax
Administration Advisory Committee (ETAAC) released its annual report
to Congress this week, featuring 10 recommendations focused on the
prevention of identity theft and refund fraud. The full report is at 2019 Electronic Tax Administration
Advisory Committee Report.
4. National Taxpayer Advocate Issues Final Report
Advocate Nina Olson has released her final report to Congress. The
report includes a review of the 2019 tax filing season.
5. June 27 Webinar: Determining Tax Residency
The IRS will present
the webinar Determining Tax Residency Status
at 2 p.m. ET on June 27. The 100-minute webinar will explain the impact of
residency status on U.S. taxation, differentiate residency status under
U.S. immigration law versus U.S. tax law, and describe the special tax
rules that apply to dual-status aliens. Tax professionals can earn two
continuing education credits.
To see a complete
list of webinars, visit the Upcoming Webinars page
6. Tax Relief for Ohio, Oklahoma and Arkansas
Victims of the
severe storms, straight-line winds, tornadoes, flooding and landslides that
took place in Ohio beginning May 27 may qualify for tax relief from the
Internal Revenue Service.
additional counties have been added for tax relief from earlier storms in
Arkansas and Oklahoma. Storm victims in the Arkansas counties of Arkansas,
Desha, Logan and Pope have been added to qualify for tax relief following
severe storms and flooding beginning May 21, and storm victims in the
Oklahoma counties of Cherokee, Le Flore, Noble and Nowata now qualify for tax relief following
severe storms and flooding that began on May 7.
Visit the IRS disaster relief page
for all updates on tax relief for disaster victims.
7. Tax Reform Changes to Controlled Foreign
Corporations; Subpart F Income
The Tax Cuts and
Jobs Act made several changes that affect taxation of Subpart F income
- Changes to ownership rules for determining
controlled foreign corporation status.
- Repeal of recognition of previously excluded
See Tax Cuts and Jobs Act: A
comparison for large businesses and international taxpayers for
more information on Controlled Foreign Corporations and Subpart F income.
This side-by-side comparison for large and international taxpayers can help
taxpayers understand the changes and plan accordingly.
8. Guidance on Global Intangible Low-Taxed Income
Department and the IRS issued final and proposed regulations
this week on global intangible low-taxed income (GILTI) under section 951A,
the foreign tax credit, the treatment of domestic partnerships for purposes
of determining the subpart F income of a partner, and the treatment of
income of a controlled foreign corporation subject to a high rate of
foreign tax under section 951A.
9. Technical Guidance
Revenue Ruling 2019-16
provides various prescribed rates for federal income tax purposes including
the applicable federal interest rates, the adjusted applicable federal
interest rates, the adjusted federal long-term rate and the adjusted
federal long-term tax-exempt rate.
Notice 2019-27 contains
a proposed revenue procedure that provides guidance on methods for
calculating W-2 wages for purposes of section 199A(g) of the Internal
Revenue Code and proposed sections 1.199A-8 through 1.199A-12 of the Income
Tax Regulations (26 CFR part 1), which are contained in a notice of
proposed rulemaking (REG-118425-18) being published with this notice.