Federal Tax

The Federal Income Tax Committee is responsible for TEI’s educational and advocacy efforts for U.S. federal income tax matters.

TEI Comments on Notice 2018-99, Parking Expenses for Qualified Transportation Fringes Under Section 274(a)(4)

On February 22, 2019, TEI submitted responsive comments and recommendations to the Internal Revenue Service concerning the interim guidance provided for taxpayers in Notice 2018-99. TEI’s comments, which are reprinted below, were developed by a cross-industry working group of Tax Reform Task Force and Federal Tax Committee members under the leadership of Katherine C. Castillo and Julia Lagun. Watson M. McLeish, tax counsel for the Institute, coordinated the preparation of TEI’s comments.

TEI Comments on Proposed Bonus Depreciation Regulations Under Section 168(k)

On October 9, 2018, TEI submitted responsive comments and recommendations to the Internal Revenue Service concerning the new proposed regulations under section 168(k) of the Code, which was amended by Public Law 115-97 on December 22, 2017. TEI’s comments, which are reprinted below, were developed by a cross-industry working group of Federal Tax Committee and Tax Reform Task Force members under the leadership of Colleen C. Brown, Julia Lagun, and John P. Orr Jr. Watson M. McLeish, Tax Counsel for the Institute, coordinated the preparation of TEI’s comments.

TEI Comments on Corporate Tax Reform Implementation Issues and Guidance Priorities

In April 2018, the Institute's legal staff worked with a diverse, cross-industry group of senior Federal Tax Committee and Tax Reform Task Force members to distill a responsive list of corporate tax guidance priorities in the wake of comprehensive tax reform.

TEI Submits Comments to the IRS in Response to Notice 2017-36 on the Final Documentation Regulations Under Section 385

In August 2017, a diverse working group comprising members of the Federal Tax Committee, U.S. International Committee, and Tax Reform Task Force reconvened to produce responsive comments to Notice 2017-36, One-Year Delay in the Application of § 1.385-2, on the final debt documentation regulations under section 385.

TEI Submits Comments to the IRS in Response to Notice 2017-38 on the Final and Temporary Section 385 Regulations

In July 2017, a diverse working group comprising members of the Federal Tax Committee, U.S. International Committee, and Tax Reform Task Force coalesced to produce responsive comments to Notice 2017-38, Implementation of Executive Order 13789 (Identifying and Reducing Tax Regulatory Burdens), on the final and temporary regulations under section 385.

TEI Members Participate in 2017 IRS and US Treasury Liaison Meetings

On February 22-23, 2017, a delegation from Tax Executives Institute met with the Commissioner of Internal Revenue, John Koskinen, and senior officials of the Internal Revenue Service and with the Treasury Department’s Tax Legislative Counsel, Tom West, and senior officials of Treasury’s Office of Tax Policy. The detailed agendas TEI submitted to the IRS and Treasury Department before the meetings are provided below.

TEI Comments on § 385 Proposed Regulations Allowing IRS to Recharacterize Related-Party Debt to Equity

On July 6, 2016, TEI submitted comments to the Internal Revenue Service regarding its proposed regulations for 26 U.S.C. § 385, which would give the IRS broad authority to recharacterize related-party debt to equity. We submitted these comments pursuant to the REG-108060-15 notice of proposed rulemaking. The comments discuss the negative macroeconomic effects the proposed regulations could have, the technical tax complexities they would create for corporate taxpayers, and suggested changes Treasury and IRS should make to the proposed regulations before finalizing them.

Participants in Region 6/7 IRS Liaison Meeting Gain Invaluable Insights

On June 14, 2016, members from Regions VI and VII enjoyed a wide-ranging and insightful discussion with local and national LB&I executives at the University of Illinois Business Center in Chicago, Illinois. Special congratulations and thanks go out to Region VI leadership, notably RVP Janet Kreilein, who led the planning and organization of this year’s event. LB&I’s recent restructuring and the reengineering of its examination process fostered a lively conversation benefitting both TEI members and LB&I officials.

IRS Releases New FATCA Form – Form W-8BEN-E

On April 13, 2016, the IRS released a revised Form W-8BEN-E, which foreign entities must provide to withholding agents of their U.S.-sourced income under the FATCA regime. The form was last updated in 2014. The updated form includes ten new checkboxes in Part III, Question 14.b, for indicating which limitation-of-benefits treaty provision applies when claiming treaty benefits. Responses to this question are not intuitive, and the question may cause confusion, particularly if individuals charged with completing the form are not familiar with the reporting company's treaty positions.

TEI Members Exchange Views with Senior IRS and Treasury Officials

On February 23-24, 2016, a delegation from Tax Executives Institute met with the Commissioner of Internal Revenue, John Koskinen, and senior officials of the Internal Revenue Service and with the Treasury Department’s Assistant Secretary for Tax Policy, Mark Mazur, and senior officials of Treasury’s Office of Tax Policy.

The detailed agendas TEI submitted to the IRS and Treasury Department before the meetings are provided below.