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U.S. Treasury Publishes Report on Implementation of the International Provisions of the Tax Cuts and Jobs Act

25 September 2019

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Approved Changes

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United States

The U.S. Treasury has published a report from the Treasury Inspector General for Tax Administration (TIGTA) providing an assessment of the implementation of the international provisions of the Tax Cuts and Jobs Act. What TIGTA Found The IRS encountered significant challenges in the development of timely guidance needed to implement international provisions. This affected the Large Business and International Division’s ability to develop compliance plans and provide training to its employees. The Act required the development of new tax forms and instructions as well as significant revisions to existing tax forms that increased the reporting burden for affected taxpayers. For...