The IRS released its Guidance Priority List for the 2012-2013 on November 19th. The Treasury Department’s Office of Tax Policy and IRS use the list to identify and prioritize the tax issues that should be addressed through published administrative guidance. The 2012-2013 plan places significant emphasis on the implementation of the healthcare laws with eighteen healthcare-related projects such as the net investment income tax, the excise tax on some medical devices, and the indoor tanning tax, which become effective on January 1, included. Additionally, the plan includes guidance for codification of the economic substance doctrine, an area where practitioners have repeatedly asked for guidance which officials have shown little intention to provide previously. Also of note are plans to provide guidance on section 7623 whistleblower awards and the operation of the IRS Whistleblower Office.
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