Current Federal Tax Developments for the week of December 3, 2018: Interest Regulations are Out

This week we look at the following items:

IRS releases the 163(j) interest deduction limitation proposed regulations
Special real property election for infrastructure maintenance company Revenue Procedure released
IRS memorandum describes what the IRS can question when an employer excludes meals from employee’s wages under §119
Foreign tax credit proposed regulations issued
Automatic accounting method change procedures issued for §451(b) revenue conformity

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