This Week's Internal Revenue Bulletin
2018-47 IRB 1
- Institutional AuthorsInternal Revenue Service
- Subject Area/Tax Topics
- Jurisdictions
- Tax Analysts Document Number2018-45473
- Tax Analysts Electronic Citation2018 TNT 224-26
HIGHLIGHTS OF THIS ISSUE
These synopses are intended only as aids to the reader in identifying the subject matter covered. They may not be relied upon as authoritative interpretations.
Administrative
REV. PROC. 2018-55, page 775. The procedure publishes the amount of unused housing credit carryovers allocated to qualified states under section 42(h)(3)(D) of the Code for calendar year 2018.
Employee Plans
Notice 2018-83, page 774. Section 415 of the Internal Revenue Code (the Code) provides for dollar limitations on benefits and contributions under qualified retirement plans. Section 415(d) requires that the Secretary of the Treasury annually adjust these limits for cost of living increases. Other limitations applicable to deferred compensation plans are also affected by these adjustments under §415. Under § 415(d), the adjustments are to be made under adjustment procedures similar to those used to adjust benefit amounts under § 215(i)(2)(A) of the Social Security Act.
Income Tax
REG–114540-18, page 777. These proposed regulations reduce the amount determined under section 956 with respect to certain domestic corporations. The proposed regulations affect United States shareholders of controlled foreign corporations.
- Institutional AuthorsInternal Revenue Service
- Subject Area/Tax Topics
- Jurisdictions
- Tax Analysts Document Number2018-45473
- Tax Analysts Electronic Citation2018 TNT 224-26