The IRS released its 2014-2015 Priority Guidance Plan today. The plan contains 317 projects that are priorities for allocation of IRS resources during the period from July 2014 through June 2015. Among the new projects identified are guidance on qualifying income for publicly traded partnerships under Section 7704(d)(1)(E). In March, the IRS announced that it had temporarily stopped considering private letter ruling requests on whether a publicly traded partnership satisfies the qualifying income requirements of Section 7704. Other new priorities include regulations on a number of consolidated return issues and guidance related to captive insurance companies.
The Priority Guidance Plan can be accessed here.