Treasury, IRS Release 2019–2020 Priority Guidance Plan
The Internal Revenue Service (IRS) this week released the 2019–2020 priority guidance plan, which established guidance priorities for the Department of the Treasury and IRS for the period from July 1, 2019, through June 30, 2020. The priority guidance plan contains 203 guidance projects. As of Sept. 30, 2019, 31 guidance items have been released. In addition to the projects on the 2019–2020 plan, the Appendix lists routine or ministerial guidance that’s generally published each year.
According to the plan, the IRS intends to publish updated guidance concerning the Opportunity Zones incentive and provide regulations and guidance for the low-income housing tax credit average-income test. The 2019–2020 priority guidance plan can be found here.