Overview
Brady: GDP Growth is Result of Tax Cuts: House Ways and Means Committee Chairman Kevin Brady (R-Texas) commented on the Bureau of Economic Analysis’ report on Gross Domestic Product (GDP) for the first quarter of 2018, attributing economic growth to 2017’s tax reform bill.
FinCEN Updates List of Anti-Money Laundering/Counter-Terrorist Financing Deficient Jurisdictions: The Financial Crimes Enforcement Network (FinCEN) today issued an advisory to financial institutions regarding the updated list of jurisdictions with strategic anti-money laundering and counter-terrorist financing deficiencies.
Miscellaneous Guidance:
Notice 2018-27 provides relief for employers that properly claimed the credit under IRC § 45R for the 2016 taxable year or a later taxable year but are unable to offer employees a qualified health plan through a Small Business Health Options Program (SHOP) Exchange because the employer’s principal business address is in a county where such a plan is not available.
In Notice 2018-43, the Treasury Department and IRS seek public comment on recommendations for items that should be included on the 2018-2019 Priority Guidance Plan.