IRS Office of Appeals to Offer Virtual Conference Option: The IRS Office of Appeals will begin a pilot program on August 1 of a web-based virtual conference option for Appeals conferences. In recent years, the Office of Appeals has moved away from in person conferences, using teleconferences instead. A virtual conference option would allow remote taxpayers to have a similar experience to a face-to-face conference.

Secretary Mnuchin to Testify Before House Financial Services Committee: Treasury Secretary Steven Mnuchin is scheduled to testify before the House Financial Services Committee on July 27 in a hearing titled “The Annual Testimony of the Treasury on the State of the International Financial System.” The hearing is scheduled to begin at 10 a.m.

House Ways and Means Committee to Hold Hearing on IRS’s Record Retention Policies: The House Ways and Means Committee is scheduled to hold a hearing on the IRS’s Record Retention Policies at 10 a.m. on July 25. The hearing will be held at 10 a.m. The following witnesses are scheduled to testify:

  • Mr. Gregory Kutz Assistant Inspector General for Audit, Management Services and Exempt Organizations, TIGTA
  • Mr. Jeffrey Tribiano Deputy Commissioner for Operations Support, IRS
  • Mr. Edward Killen Director of Privacy, Governmental Liaison, and Disclosure, IRS

IRS Issues Two Final ACA Regulations: Today, the IRS issued two sets of final regulations related to the Affordable Care Act. First, the IRS issued T.D. 9822, which provides guidance for individuals who enroll in qualified health plans through the affordable insurance exchanges and claim the premium tax credit, and exchanges that make qualified health plans available to individuals and employers. These final regulations adopt the proposed regulations (REG-104579-1), with one technical correction that was not raised in the comments received from the public.

Second, the IRS issued T.D. 9823, which modified the definition of controlled group for purposes of the branded prescription drug fee. Since the IRS received no comments to the proposed regulations, the final regulations adopt the proposed regulations (Reg-123268-14) without any changes.

Both final regulations are effective as of July 24. The temporary regulations associated with both final regulations are removed.