Daily Tax Update - April 11, 2017: Miscellaneous Guidance

Miscellaneous Guidance: Today the IRS released a notice providing the 2017 inflation adjustment factor and reference prices that are used in determining the availability of the credit for renewable electricity production and refined coal production under section 45.  The notice also indicates that the credit period for Indian coal production has expired for calendar year 2017.

DTU In Depth

Recent Actions Could Limit IRS’s Regulatory Authority: While in recent years, both the legislative and judicial branches have shown significant hostility to the broad regulatory powers of the federal agencies, President Trump has continued that hostility in the executive branch as well.  Several recent developments in all three branches of the federal government suggest that there may be a significant curtailing of regulatory authority.  While tax guidance is unlikely to be the primary target, this push for regulatory reform could have a significant impact on IRS regulations.  Click here for more in-depth coverage.