2019-12-16 The Sound of Silence

Current Federal Tax Developments for the week of December 16, 2019: The Sound of Silence

• IRS does not have the discretion to waive repayment of advance premium credit
• Employer who reimburses employee when transit card fails to function has to include amount in wages per CCA
• IRS issues more proposed regulations on state tax issues and charitable contributions, but remains silent on passthrough tax issues
• IRS grants relief from use of tax basis capital account on partnership K-1s for one year

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