Congressional Budget Office Releases Cost Estimate of Senate Tax Bill: On December 2, the Congressional Budget Office released its estimate of the revenue effects of the modifications to the Tax Cuts and Jobs Act.

IRS Releases Notice Regarding Donor Advised Funds: Today, Treasury and the IRS issued Notice 2017-73, which describes approaches they are considering on several issues involving donor advised funds (DAFs) held by sponsoring organizations and requests comments on those approaches.

OECD Releases First Peer Reviews of the BEPS Action 5 Minimum Standard on Spontaneous Exchange of Tax Rulings: Today, the Organization for Economic Cooperation and Development (OECD) released the first analysis of how 44 countries--including all OECD members and all G20 countries--are implementing the new information exchange standard for certain tax rulings.