OECD Releases Comments on Draft Toolkit for Taxation of Offshore Indirect Transfers: Today, the Organization for Economic Cooperation and Development (OECD) published the public comments it received on the discussion draft of a toolkit on the Taxation of Offshore Indirect Transfers. The draft toolkit is part of the Platform for Collaboration on Tax initiative, a joint effort by the OECD, the International Monetary Fund, the United Nations, and the World Bank Group to strengthen cooperation on tax issues.
IRS Releases Guidance for Individuals With No Available Marketplace Bronze-Level Plan: Today, the IRS issued Notice 2017-74, which provides that individuals who are not eligible for coverage under an employer-sponsored plan and who lack access to affordable coverage should not be denied the use of the affordability exemption under IRC § 5000(A)(e)(1) and Reg. § 1.5000A-3(e) because they live in an area served by a marketplace that does not offer a bronze-level plan.
Revenue Effects of Senate Bill: The Joint Committee on Taxation has today released the estimated revenue effects of the Senate-passed Tax Cuts and Jobs Act.