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Expected Timing of Additional TCJA Guidance

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Oct 17, 2018

The following information regarding the issuance of additional guidance on key provisions in the TCJA has been provided by various high-level IRS employees:

  • Guidance on four major international areas, including base erosion, anti-abuse tax, and the foreign tax credit: Maybe within six weeks
  • Proposed regulations on the new 30% business interest limitation, including the impact on bonus depreciation: By the end of the year
  • Final regulations on 100% bonus depreciation: Early in 2019
  • Regulations on the new estate and gift tax exemption levels (the doubling of the gift tax exemption to $10 million this year, with a drop back to $5 million after 2025): “Sooner rather than later”

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Crystal Christenson, CPA, MST
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