IRS Seeks Recommendations for 2024-2025 Priority Guidance Plan; Comments Due May 31

The Internal Revenue Service (IRS) and Department of Treasury (Treasury) released Notice 2024-28 seeking recommendations for items that should be included in the 2024-2025 Priority Guidance Plan. The Treasury Department's Office of Tax Policy and the IRS use the Priority Guidance Plan each year to identify and prioritize the tax issues that should be addressed through regulations, revenue rulings, revenue procedures, notices, and other published administrative guidance. The 2024-2025 Priority Guidance Plan will identify guidance projects that the Treasury Department and the IRS intend to actively work on as priorities during the period from July 1, 2024, through June 30, 2025.

Comments are due May 31, 2024, for possible inclusion on the original 2024-2025 Priority Guidance Plan. Taxpayers may submit recommendations for guidance at any time during the year for consideration in future updates.