By Pension and Benefits Editorial Staff
The IRS has invited the public to submit recommendations for items that should be included on the 2020-2021 Priority Guidance List. The Treasury Department’s Office of Tax Policy and the IRS use the Priority Guidance List each year to identify and prioritize the tax issues that should be addressed through regulations, revenue rulings, revenue procedures, notices, and other published administrative guidance. The 2020-2021 Priority Guidance List will establish the guidance that the Treasury Department and the IRS intend to work on as priorities from July 1, 2020 through June 30, 2021.
The Treasury Department and the IRS recognize the importance of public input in formulating a Priority Guidance Plan that focuses resources on guidance items that are most important to taxpayers and tax administration. The Treasury Department and IRS will consider a number of issues while reviewing recommendations and selecting additional projects for inclusion on the 2020-2021 Priority Guidance Plan, including whether the recommended guidance resolves significant issues relevant to a broad class of taxpayers, whether the recommended guidance relates to recently enacted legislation, and whether the recommended guidance would be in accordance with Executive Order 13771, Executive Order 13777, Executive Order 13789, or other executive orders.
Recommendations should be submitted by July 22, 2020 for possible inclusion on the original 2020-2021 Priority Guidance List. Taxpayers may, however, submit recommendations for guidance at any time during the year. The Treasury Department and IRS will update the 2020-2021 Priority Guidance Plan periodically to reflect additional guidance that it intends to publish during the plan year.
Comments may be submitted electronically at www.regulations.gov (type IRS-2020-0015 in the search field on the regulations.gov homepage to find this notice and submit comments). Taxpayers are strongly encouraged to submit recommendations for guidance electronically. Comments may also be mailed to the Internal Revenue Service, Attn: CC:PA:LPD:PR (Notice 2020-47), Room 5203, P.O. Box 7604, Ben Franklin Station, Washington, DC 20044. Note that the IRS expects to have limited personnel available to process recommendations that are submitted on paper through the mail. Until further notice, any recommendations submitted on paper will be considered to the extent practicable.
Source: IRS Notice 2020-47.
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