Tax Advisors would never know what was hidden in the proposed removal of 298 IRS regulations unless they spent twenty-five hours researching the links to the IRC which we did for TaxConnections members. Based on a preliminary review, these proposals could be very far reaching and we urge TaxConnections members to review the proposed changes immediately and if interested, request the opportunity to testify at the IRS public hearings on topics of interest to you and your clients.
We spent hours linking up the proposed removals of these tax laws to the Code of Federal Regulations for you. This saves our members many hours of research time in order to enable our members to focus on analysis of these changes.
TaxConnections Members should carefully study this information in order to make comments or request a public hearing on these far reaching proposals. If you want to comment or request a public hearing, you must make a request for a public hearing before May 14, 2018.
Pursuant to President Trumps Executive Orders 13777 and 13789, the Treasury Department and the IRS conducted a review of existing regulations with the goal of reducing the regulatory burden of taxpayers as set forth in President Trumps Executive Orders.
The Notice of Proposed Rulemaking issued by the Treasury Department proposes to streamline IRS Regulations by removing 298 IRS Regulations that are no longer necessary because they do not have current or future applicability under the Internal Revenue Code; and by amending 79 IRS Regulations to reflect the proposed removal of the 298 IRS Regulations. The proposed removal and amendment of these IRS Regulations may affect a wide range of taxpayers in the United States and abroad, including your clients.
Written Or Electronic Requests For A Public Hearing Must Be Received By May 14, 2018
Send All Submissions To:
CC: PA-LPD-PR (REG- 132197-17), Room 5203
Internal Revenue Service
P.O. Box 7604
Ben Franklin Station
Washington D.C. 20044
Hand – Delivered Submissions Between 8:00AM and 4:00PM To:
CC:PA-LPD-PR (REG- 132197-17)
Couriers Desk
Internal Revenue Service
1111 Constitution Avenue, NW
Washington D.C.
Submissions May Also Be Sent Via The Federal eRulemaking Portal At www.regulations.gov
(REG-132197-17)
Contact Mark. A. Bond, Office Of Associate Chief Counsel (Procedure And Administration), 202.317.6844
Contact Regina Johnson (Submission Of Comments/Request For Public Hearing), 202.317.6901
VIEW A SAMPLE BELOW OF TAXCONNECTIONS RESEARCH
WHICH LINKS TO CODE OF FEDERAL REGULATIONS
Treasury Regulations §§1.23-1 (Residential Energy Credit) through
(Procedure And Criteria For Additions To The Approved List Of Energy-Conserving Components Or Renewable Energy Resources)(Approved List Of Energy Resources)
These regulations provide guidance under former Section 23. Former Section 23 was repealed by Section 11801(a) Omnibus Budget Reconciliation Act of 1990, November 5, 1990. Public Law No. 101-508.
Treasury Regulation §1.46-11(Commuter Highway Vehicles)
These regulations provide guidance under former Section 46. Former Section 46 was repealed by Section 11813 of the Omnibus Budget Reconciliation Act of 1990, effective generally with respect to property placed in service after December 31, 1990. Public Law No. 101-508.
Treasury Regulation §§1.56A-1 (Imposition of Tax)
Treasury Regulation §§ 1.56A-2 (Deferral Tax Liability In Case Of Certain Net Operating Loss)
Treasury Regulation §§ 1.56A-3 (Effective Date)
Treasury Regulation §§ 1.56A-4 (Certain Taxpayers)
Treasury Regulation §§ 1.56A-5 (Tax Carryovers)
Treasury Regulation §§ 1.58-1 (Minimum Tax Exemption)
Treasury Regulation §§ 1.58-9 (Application of The Tax Benefit Rule To The Minimum Tax)
These regulations provide guidance relating to the alternative minimum tax under Section 56A and former Section 58. These regulations implement a version of the alternative minimum tax that was repealed by section 701(a) of the Tax Reform Act of 1986, effective for taxable years beginning after December 31, 1986. Public Law No. 99-514.
Treasury Regulation §1.101-5 (Alimony Payments)
These regulations provide guidance under Section 101(e). Section 101(e) was repealed by Section 421(b) (2) of the Deficit Reduction Act of 1984, generally effective for transfers after July 18, 1984, in taxable years ending after July 18, 1984. Public Law No. 98-369.
Treasury Regulations §1.103-2 (Dividends From Shares And Stock Of Federal Agencies Or Instruments)
These regulations provide guidance regarding the tax exemption for dividends from shares and stock of federal agencies or instrumentalities under former Section 103. Former Section 103 was repealed by Section 6 of the Public Debt Act of 1942, effective for securities issued after March 28, 1942. Public Law No. 77-510.
Treasury Regulations §1.103-3 (Interest Upon Notes Secured By Mortgages Executed To Federal Agencies)
These regulations provide guidance regarding the tax exemption for interest on United States obligations under former Section 103. Former Section 103 was repealed in part by section 4 of the Public Debt Act of 1941, effective for obligations issued on or after February 28, 1941. Public Law No. 77-7.
Treasury Regulations §1.168(f)(8)-1T (Safe Harbor Lease Information Returns Concerning Mass Commuting Vehicles)
These regulations provide guidance under section 168(f)(8). Section 168(f)(8) was repealed by Section 201(a) of the Tax Reform Act of 1986, effective with respect to property placed in service after December 31, 1986, in taxable years ending after December 31, 1986. Public Law No. 99-514.
Treasury Regulations §1.177-1(Election To Amortize Trademark And Trade Name Expenditures)
These regulations provide guidance under Section 177. Section 177 was repealed by Section 241(a) of the Tax Reform Act of 1986, generally effective with respect to expenditures paid or incurred after December 31, 1986. Public Law No. 99-514.
(This Is Part One- Go To This Link For Part Two)
TaxConnections Members May Request Full Research
Report By Sending Request To Kat@taxconnections.com
Kat Jennings, TaxConnections, CEO and Founder and Advisory Team provides three areas of services: 1) Internationally recognized, retained executive search services for multinational corporations, public accounting firms, and law firms; 2) Introductions of sellers to buyers of small and medium size accounting firms; and 3) Provide brand building and education services that support and prepare accounting firm owners to buy/sell an accounting practice. We focus on educating the journey to sell a practice and how to increase firm revenue prior to any sale. Our program ensures you start years prior to a sale by learning what is expected of you during the selling process, and introducing firm Partners to cross selling opportunities that are easy to implement and reduce your workload at the same time. We introduce you to value added connections to smartly grow revenue in your accounting practice.
Kat Jennings has been retained by organizations worldwide to locate tax professionals with highly specialized tax knowledge and expertise. She has a thorough understanding of the tax business community, with a proven record of stellar performances matching professionals with organizations. Bringing two parties together to work successfully is the art of understanding personalities, cultural fit, expectations by both parties, flexible or inflexible work environments, understanding what drives and motivates each party, and revolves around the personality and ethics of each executive team.
Kat is a widely recognized expert in high level, tax executive search, as well as connecting buyers and sellers of accounting firms. TaxConnections provides and educates small to medium size accounting firms owners and Partners how to prepare and sell their firms so they can build a succession plan for their retirement. With larger firms seeking to acquire smaller accounting practices, there is a real need to help firm owners prepare to be acquired. Most firm owners are unaware they are not ready to sell when they decide to retire. TaxConnections educates firm owners’ what they need to do years in advance of selling an accounting firm practice.
Senior tax executives expect the utmost privacy when being introduced to multinational organizations about a new tax opportunity under consideration. Having said that, companies searching for a new head of tax expecting tax executive candidates to submit their resume through a resume portal, will never see a full slate of outstanding tax executives available due to a candidates’ desire for greater privacy. This is why privacy focused Uber Tax Recruiters consistently outperform in-house recruiters on tax executive searches.
We offer our clients a Performance Retainer Agreement arrangement so their HR department can still recruit and compete with the tax candidates we present on Head of Tax searches. The client pays us a partial fee upfront, and if they find a candidate they deem better than we introduce to them, we forfeit the final fee. Most of the time, they love and prefer our private introductions to tax executive candidates better than what they source through their own resume portals.
When we represent selling/buying small to medium-sized firms, firm owners/partners also demand greater privacy when considering the sale of their practice. TaxConnections provides a safe place to discuss their business needs, elevate their practices’ online reputation, and increase revenue through new streams of business development by outsourcing work and partnering with other firms. Over three decades, we have worked tirelessly to build relationships between firm owners most organizations rarely have access to in the world of tax. There are numerous possibilities you may never have considered previously to bolster the value of your practice and service offerings.
As a globally recognized consultant to multinational organizations, accounting firms, and law firms searching for tax expertise, Kat has been retained by public accounting firms, law firms, and corporations worldwide including Apple Computer, AC Neilson, Accenture, Agilent Technologies, Allergan, Alza, American Express, American Media, Aon, Baker & McKenzie, Barclays Bank, Bechtel, Cargill, Carl Zieuss Vision, Century Aluminum, Chevron, Clorox, Citigroup, Commercials Metals, Constellation Energy, Countrywide, Del Monte, Deloitte Touche, DFS, DLA Piper, E&J Gallo Winery, Electronic Arts, Ernst &Young, Fox Entertainment, Fremont Investments, General Electric,General Motors, Herbalife, Hewlett Packard, Hyatt, Intel, Jones Lang LaSalle, Kimco Realty, KLA Tencor, Koch Industries, KPMG, Levi Strauss, Liberty Mutual, LKQ, Loews, Logitech, Lucas Film, Maersk, McKesson, Nalco, Newell Rubbermaid, Nissan, Oracle, Orbitax, Pacific Gas & Electric, PwC, QAD, SAIC, SanDisk, Sanmina, Sempra Energy, SONY, Synopsys, Ticketmaster, Trimble Navigation, Toyota, Univar, Wal-Mart, Wells Fargo, Vertex, Yahoo, Xilinx, and many more not listed here.
Contact Kat at 858,999.0053 Office/858.232.4415 Cell or kat@taxconnections.com to request a private consultation regarding the sale of your practice, adding top talent to your organization, or merging your practice with another firm owner with a book of business. The possibilities are endless; if you have a dream of a new vision for your professional life; we will scout opportunities throughout the market to make it happen.
Recent Comments