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Monthly Archives: January 2019

Eligibility for Allocation of Deduction for Energy Efficient Commercial Building Property Clarified

The IRS has issued a memo that sets forth guidelines for determining various factual scenarios such as whether a taxpayer may qualify as a designer of energy efficient commercial building property under Code Sec. 179D(d)(4). The Service also analyzed if designers could qualify for the maximum Code Sec. 179D deduction of $1.80 per square foot, […]

IRS Extends Filing Deadlines, Penalty Relief for Health Insurance Forms

Insurers, self-insuring employers, other coverage providers, and applicable large employers now have until March 4, 2019, to provide individuals with Forms 1095-B, Health Coverage, or Forms 1095-C, Employer-Provided Health Insurance Offer and Coverage. This is a 30-day extension from the original due date of January 31, 2019. The due dates for employers and insurers to […]

Regulations to be Issued on Controlled Foreign Corporations’ Previously Taxed Earnings and Profits

The IRS and the Treasury intend to provide regulations that will address issues affecting foreign corporations with previously taxed earnings and profits (PTEP). The regulations are in response to changes made by the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97), and are intended to include rules for: the maintenance of PTEP in annual […]