News & Tax Alerts: Tax Alerts – Federal

IRS Issues Several Guidance Notices Including Prepaying 2018 Real Property Taxes; Must Renew PTIN by

Thursday, December 28, 2017   (0 Comments)
Posted by: Ann Lupo

IRS Advisory: Prepaid Real Property Taxes May Be Deductible in 2017 if Assessed and Paid in 2017

IR-2017-210, Dec. 27, 2017 —The IRS advised tax professionals and taxpayers that prepaying 2018 state and local real property taxes in 2017 may be tax deductible under certain circumstances. Examples are provided in the Advisory.


IRS Statement – Withholding for 2018

Dec. 26, 2017 — The IRS is working to develop withholding guidance to implement the tax reform bill signed into law on December 22.


IRS Extends Due Date for Employers and Providers to Issue Health Coverage Forms to Individuals in 2018

IR-2017-209, Dec. 22, 2017― The IRS announced that it has extended the 2018 due date for certain entities to provide 2017 health coverage information forms to individuals.


IRS: Tax Professionals Need 2018 PTIN; Continuing Education for Annual Filing Season Program Due by Year End
IR-2017-207, Dec. 20, 2017— The IRS is reminding federal tax return preparers that they must renew their Preparer Tax Identification Numbers (PTIN) that expire Dec. 31, 2017.


IRS Provides Additional Relief for Partnerships and Certain Other Entities

IR-2017-205, Dec. 14, 2017— The IRS issued revised guidance extending relief for certain partnerships, real estate mortgage investment conduits (REMICs), and other entities that did not file the required returns by the new due date for tax years beginning in 2016.