OECD to Release Reports on Taxation of Personal Savings and Wealth

OECD to Release Reports on Taxation of Personal Savings and Wealth: Today, the OECD announced that two new reports will be released on April 12, which assess how governments are using the taxation of personal savings and wealth and offer recommendations for more effective and efficient tax policy. The first report provides a detailed review of savings taxation policy in OECD countries and five partner countries. The second report examines how taxes are currently used across the OECD.

Miscellaneous Guidance:
Revenue Procedure 2018-23 issued today provides a waiver for the time requirements for individuals electing to exclude foreign earned income who must leave a foreign country because of war, civil unrest, or similar adverse conditions. The Revenue Procedure adds Turkey to the list of waiver countries for tax year 2016. No country is added to the list of waiver countries for tax year 2017.