Current Federal Tax Developments for the week of September 10, 2018: SALT Clarification - Well, Not Really

This week we look at the following items:

South Dakota to hold a special session so the state can begin to take advantage of their victory in the Wayfair case
Taxpayer who withdrew IRA funds based on a notice of intent to levy cannot escape 10% additional tax
IRS clarifies the application of the proposed SALT regulations leading to a bevy of questions
IRS memorandum concludes seismic fees for offshore drilling must be amortized and cannot be treated as intangible drilling costs
President issues an Executive Order for DOL and Treasury to consider certain changes to retirement plans
Tax Court disagrees with the IRS’s view on how §1291(c) gains interact with six year statute

An audio only version of this week's broadcast can be streamed or downloaded below:

A PDF with the articles from this week's broadcast can be downloaded below.