IRS Notice: ABA Tax Comments on Priority Guidance Plan for 2020-21

ABA Tax Section July 23 releases comments on 2020-21 Priority Guidance Plan in response to Notice 2020-47. The comments focus on finalizing proposed regulations on consolidated net operating losses, minimum tax credit carryforwards, normalization requirements for excess tax reserves regarding tax code Section 168, and finalizing proposed regulations on the silo treatment of exempt organizations unrelated business taxable income, among others. [Comments from ABA Tax Section Recommendations for 2020-2021 Priority Guidance Plan (July 22, 2020)]

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