The U.S. Internal Revenue Service issued the first quarter update of the 2015-2016 Priority Guidance Plan on 23 October 2015. The guidance covers the 12-month period beginning July 2015 through June 2016 (the plan year). The U.S. Treasury Department's Office of Tax Policy and the IRS use the Priority Guidance Plan to identify and prioritize the tax issues that should be addressed through regulations, revenue rulings, revenue procedures, notices, and other published administrative guidance. It also sets out the schedule for routine publications for each month of the plan year. The first quarter updates include seven additional projects that have...