The 2019 edition of Bloomberg Tax & Accounting’s survey on How Corporate Tax Departments Are Evolving reveals how tax leaders are adapting to the turbulent post–tax reform environment. We asked how tax functions are carrying out their mandates despite a noticeable talent deficit and a lack of resources.

Despite a looming deadline, recent surveys show that up to 30 percent of private companies still have not decided which technology system they will use to comply with the new lease accounting standards under GAAP and IFRS.

Stay on top of how states are responding to the 2017 tax legislation. Track the tax-reform-related bills and their status within statehouses across the country. This information is based on reporting from our in-house editors and a network of 20-plus correspondents throughout the U.S.

In an effort to combat possible indefinite deferral of U.S. taxation with respect to active foreign business income, the 2017 tax act (Pub. L. No. 115-97) enacted §951A, which requires each U.S. shareholder of a controlled foreign corporation (CFC) to include its “global intangible low-taxed income” (GILTI) for the taxable year in gross income.

After almost 10 years of planning, the Financial Accounting Standards Board, in 2016, issued sweeping changes to the way in which leases would be accounted. The new standard affects corporations that enter lease arrangements and will bring trillions of dollars in liabilities to US balance sheets.

Now in its 19th year, Bloomberg Tax’s Survey of State Tax Departments clarifies each state’s position on the gray areas related to the income taxation of corporations and pass-through entities as well as sales and use taxation, with an emphasis on nexus policies.

On October 29, 2018, Treasury and the IRS issued proposed regulations (REG-115420-18) that provide guidance relating to the type of gains that may be deferred, the time by which deferred gain must be invested in a QOF, and the manner in which investors may elect to defer specified gains.

2019 Credit Losses explores how the credit loss landscape is set to be transformed by the implementation of ASC 326. This new standard from FASB is sure to impact how corporations can write down losses on financial assets and poses significant risks to companies that don’t plan ahead for the new standard.

The IRS released final regulations (T.D. 9844) December 22, 2018, which implement the centralized partnership audit regime enacted by the Bipartisan Budget Act of 2015 and subsequently amended by the Tax Technical Corrections Act of 2018.

As developments occur, any changes and updates made to the 2019 Federal Tax Guide will be posted below. The 2019 Federal Tax Guide on Bloomberg Tax will automatically be updated. View the most recent 2019 Federal Tax Guide updates. Interested in viewing the 2019 Federal Tax Guide online? Subscribe to Bloomberg Tax.