interest rates

TEI Comments on Proposed Section 163(j) Regulations

On February 26, 2019, TEI submitted responsive comments and recommendations to the Internal Revenue Service concerning the proposed regulations under section 163(j) of the Internal Revenue Code (REG-106089-18). 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 stewardship of Watson M. McLeish, tax counsel for the Institute.

TEI Issues Five State and Local Tax Policy Statements

In November 2015, TEI issued five state and local tax policy statements: (1) Reporting Federal Income Tax Changes, (2) Audit Procedures, (3) Corporate Tax Return Due Dates, (4) State and Local-Imposed Audit Fees, and (5) Interest Rates. TEI's policy statements reflect TEI's position on important state and local administrative and procedural issues. They are intended to enable TEI to respond quickly to issues as they arise across the country and to facilitate advocacy by providing formal position papers TEI's members can use when communicating with taxing agencies.

TEI Recommends State Tax Reforms to Maryland's Augustine Commission

On September 30, 2015, TEI recommended four state tax reforms that would further the Maryland Economic Development and Business Climate Commission (the Augustine Commission) goals of making Maryland a better place to do business and keeping Maryland competitive in economic and private sector growth and prosperity. TEI recommended: (1) a reduction of the interest rate on underpayments of tax, (2) a legislative directive narrowing the application of the principles espoused in Gore Enterprise Holdings, Inc. v.