10/10/2019

IRS Issues Priority Guidance Plan for 2019-2020

The IRS will continue to focus on implementing the TCJA

The Internal Revenue Service (IRS) will continue to focus on implementing the 2017 TCJA and the Taxpayer First Act (TFA), according to its priority guidance plan for 2019-2020 released this week.

The priority guidance plan identifies and prioritizes tax issues that should be addressed through regulations, revenue procedures, notices and other published guidance. The guidance plan includes a section on tax-exempt organizations but there are no major tax issues identified that impact associations.

The focus on the TFA will include several far-reaching reforms intended to improve the agency’s customer service, modernize the agency’s information technology and strengthen taxpayers’ recourse in enforcement cases. President Donald Trump signed the TFA into law on July 1 and directed Treasury Secretary Mnuchin to provide a written IRS restructuring plan to Congress by Sept. 30, 2020.

This article was provided to OSAE by the Power of A and ASAE's Inroads.