IRS issues 2nd quarter 2017-2018 priority guidance plan

The IRS has issued the updated priority guidance plan for 2017-2018. Some of the payroll-related items relating to executive compensation, health care, and benefits are below.

Tax Cuts and Jobs Act

  • Guidance on certain issues related to the business credit under §45S with respect to wages paid to qualifying employees during family and medical leave.
  • Guidance under §162(m) regarding the application of the effective date provisions to the elimination of the exceptions for commissions and performance-based compensation from the definition of compensation subject to the deduction limit.
  • Guidance under §162(f) and new §6050X.
  • Computational, definitional, and other guidance under new §163(j).
  • Guidance regarding withholding under §§3402 and 3405 and optional flat rate withholding.
  • Regulations under Code Sec. 86 regarding rules for lump-sum elections.
  • Regulations under Code Sec. 119 and Code Sec. 132 regarding employer-provided meals.
  • Updated guidance on the classification system for the line of business determination under Reg. §1.132-4 for purposes of qualified employee discounts and no-additional-cost services.
  • Guidance under Code Sec. 162(m).
  • Final regulations on income inclusion under Code Sec. 409A. Proposed regulations were published on December 8, 2008.
  • Final regulations on various issues under Code Sec. 409A. Proposed regulations were published on June 22, 2016.
  • Revenue Ruling under Code Sec. 419A on the definition of post-retirement medical benefits.
  • Regulations amending Reg. §1.419A-2T relating to collectively-bargained welfare benefit funds.
  • Regulations under Code Sec. 457(f) on ineligible plans. Proposed regulations were published on June 22, 2016.
  • Guidance on the application of Code Sec. 409A to compensation deferred prior to 2009 and includible in income under Code Sec. 457A no later than 2017. Published 12/26/17 in IRB 2017-52 as Notice 2017-75 (released 12/08/17).
  • Final regulations under Code Sec. 512 explaining how to compute unrelated business taxable income of voluntary employees’ beneficiary associations described in Code Sec. 501(c)(9). Proposed regulations published on February 6, 2014.
  • Guidance under Code Sec. 3402 to remove alternative method of figuring withholding based on combined income, employee social security, and employee Medicare tax withholding tables.
  • Guidance under Code Sec. 9831(d) on qualified small employer health reimbursement arrangements (QSEHRAs) as added by section 18001 of the 21st Century Cures Act. Published 11/20/17 in IRB 2017-47 as Notice 2017-67 (released 10/31/17).
  • Final regulations under §199 regarding allocation of W-2 wages in a short taxable year and in an acquisition or disposition. Proposed and temporary regulations were published on August 27, 2015.
  • Guidance facilitating leave-donation programs in areas affected by Hurricane and Tropical Storm Maria. Published 10/30/17 in IRB 2017-44 as Notice 2017-62 (released 10/06/17).
  • Guidance facilitating leave-donation programs in areas affected by the California Wildfires. Published 11/27/17 in IRB 2017-48 as Notice 2017-70 (released 11/09/17).
  • Guidance facilitating leave-donation programs in areas affected by Hurricane and Tropical Storm Harvey. Published 09/25/2017 in IRB 2017-39 as Notice 2017-48 (released 09/05/17).
  • Guidance facilitating leave-donation programs in areas affected by Hurricane and Tropical Storm Irma. Published on 10/02/2017 in IRB 2017-40 as Notice 2017-52 (released 09/14/17).
  • Final regulations under §199 regarding allocation of W-2 wages in a short taxable year and in an acquisition or disposition. Proposed and temporary regulations were published on August 27, 2015.
  • Update to Code Sec. 6051 and Code Sec. 6052 regarding truncated taxpayer identification numbers. Published 09/20/17 in FR as REG-105004-16 (NPRM). (U.S. Department of the Treasury, Office of Tax Policy and IRS, 2nd Quarter 2017-2018 Priority Guidance Plan, February 7, 2017.)

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