Treasury Issues Update to Priority Guidance Plan

The Treasury Department recently issued the second quarter update to its 2018-19 Priority Guidance Plan. The plan details tax guidance the government intends to focus its efforts on in the coming months. As in prior years, the IRS updates the plan periodically to reflect additional guidance that it intends to publish. With this update, additions include plans to provide guidance for the low-income housing tax credit average-income test and guidance on private-activity bonds for affordable housing.

The second quarter update to the 2018-19 plan reflects 38 additional projects that have been published (or released) during the period from Nov. 8, 2018, through Dec. 31, 2018. Due to the partial government shutdown that impacted the second quarter between Dec. 21 and Dec. 31, 2018, certain projects that might otherwise have been published and released during the second quarter were not published and released until the third quarter.

You can find the priority guidance plan update here.