2016 Post-Filing Season Update

The end of the 2016 filing season ends many tax practitioners needing to catch up on a long list of new developments that have taken place since January 1, 2016, especially those developments with an immediate impact on what taxpayers do next. Key items include guidance and new rules involving the Affordable Care Act, FATCA, partnerships, corporations, pension and retirement plans, exempt organizations, and more. Treasury and the IRS also started rolling out guidance under the Protecting Americans from Tax Hikes Act of 2015 (PATH Act), passed at year- end 2015 with significant impact on 2016 and beyond. At the same time, Treasury and IRS officials previewed important guidance due out over the next several months. And the Tax Court and federal district and appellate courts issued a number of important tax decisions. 

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