Arizona Forum for the Improvement of Taxation - Non-COVID Federal Tax Developments

Passthrough Taxes Created by States as SALT Workarounds Will Be Allowed as Deduction Without Regard to any SALT Limitations

Final Regulations Issued on Treatment of Excess Deductions on Termination Following TCJA Addition of IRC §67(g)

2020 Draft Instructions Remove Reference to Reducing QBI by Charitable Contributions

Small Business Accounting Method Proposed Regulations Released (final regulations basically followed these rules with one key change—the syndicate one year lookback election is no longer a permanent election, but rather year by year)

Draft 2020 Form 1065 Instructions Contain Details of Tax Basis Partners' Capital Account Reporting Requirements

Statute of Limitations Begins to Run on Date First Return is Filed, Not Date Superseding Return is Filed

Worksheet PDFs