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June 21, 2019

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Issue Number:  2019-21

Inside This Issue

1.     IRS Commissioner to Highlight Nationwide Tax Forums; Give Keynote in National Harbor, Four Other Cities

2.     IRS Says Millions of ITINs to Expire in 2019

3.     Electronic Tax Administration Advisory Committee Releases Annual Report

4.     National Taxpayer Advocate Issues Final Report to Congress

5.     June 27 Webinar: Determining Tax Residency Status

6.     Tax Relief for Ohio, Oklahoma and Arkansas Disaster Victims

7.     Tax Reform Changes to Controlled Foreign Corporations; Subpart F Income

8.     Guidance on Global Intangible Low-Taxed Income

9.     Technical Guidance


1.  IRS Commissioner to Highlight Nationwide Tax Forums; Give Keynote in National Harbor, Four Other Cities


IRS Commissioner 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.

Enrolled agents, 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.

Encourage your 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 to Congress


National Taxpayer 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 Status


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 on IRS.gov.


6.  Tax Relief for Ohio, Oklahoma and Arkansas Disaster Victims


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.

Additionally, 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 including:

  • Changes to ownership rules for determining controlled foreign corporation status.
  • Repeal of recognition of previously excluded income.

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


The Treasury 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.