Administrative

REV. PROC. 2018–55 REV. PROC. 2018–55

This procedure publishes the amounts of unused housing credit carryovers allocated to qualified states under section 42(h)(3)(D) of the Code for calendar year 2018.

Employee Plans

Notice 2018–83 Notice 2018–83

Section 415 of the Internal Revenue Code (the Code) provides for dollar limitations on benefits and contributions under qualified retirement plans. Section 415(d) requires that the Secretary of the Treasury annually adjust these limits for cost of living increases. Other limitations applicable to deferred compensation plans are also affected by these adjustments under § 415. Under § 415(d), the adjustments are to be made under adjustment procedures similar to those used to adjust benefit amounts under § 215(i)(2)(A) of the Social Security Act.

Income Tax

REG–114540–18 REG–114540–18

These proposed regulations reduce the amount determined under section 956 with respect to certain domestic corporations. The proposed regulations affect United States shareholders of controlled foreign corporations.