The IRS compiles annual Priority Guidance Plans to identify tax issues that should be addressed through various means, including regulations, revenue rulings, revenue procedures, notices and other administrative guidance. Recently, it released its third quarter update for the 2021-2022 plan (https://bit.ly/3GVliZD). For the full year (which ends June 30, 2022), the plan includes 193 projects. The update includes 15 projects that weren’t in the original plan. Because the IRS wants to allocate resources to the projects taxpayers and tax professionals deem most important, the public is encouraged to submit comments and suggestions.
Our Blog 