The U.S. IRS released the fourth quarter update of the 2015-2016 Priority Guidance Plan on 15 August 2015. On the same date, the initial 2016-2017 Priority Guidance Plan was also released, which includes 281 projects.

The U.S. Treasury Department's Office of Tax Policy and the IRS use the Priority Guidance Plans to identify and prioritize the tax issues that should be addressed through regul…