House Votes to Send Tax Bill to Conference: Late yesterday, the House voted 222-192 to form a conference committee to resolve differences between the House and Senate tax bills. The text of the bill passed by the Senate is now available.

The House conferees are:

  • Rob Bishop (R-UT)
  • Diane Black (R-TN)
  • Kevin Brady (R-TX)
  • Kathy Castor (D-FL)
  • Lloyd Doggett (D-TX)
  • Raúl M. Grijalva (D-AZ)
  • Sander M. Levin (D-MI)
  • Richard E. Neal (D-MA)
  • Kristi L. Noem (R-SD)
  • Devin Nunes (R-CA)
  • John Shimkus (R-IL)
  • Greg Walden (R-OR)
  • Don Young (R-AK)

The Senate is expected to select its conferees this week.

European Council Adopts New Rules for VAT on E-Commerce: Today, the European Council adopted new rules intended to make it simpler for online businesses to comply with their value-added tax (VAT) obligations. The new rules expand access to online portals for registration and reporting and require that the VAT be paid in the member state of the consumer.

Miscellaneous Guidance:

Required Amendments List: Today, Internal Revenue Service released Notice 2017-72 which contains the 2017 Required Amendments List for individually designed qualified retirement plans. The list identifies certain changes in qualification requirements that became effective in 2017 that may require a retirement plan to be amended in order to remain qualified, and establishes the date by which any necessary amendment must be made.

Interest on Overpayments and Underpayments: The IRS also released Revenue Ruling 2017-25 setting out the interest rates on overpayments and underpayments of tax first quarter of 2018.