Treasury Issues Update to Priority Guidance Plan

The Treasury Department recently issued the second quarter update to its 2018-19 Priority Guidance Plan. The plan details tax guidance the government intends to focus its efforts on in the coming months. As in prior years, the IRS updates the plan periodically to reflect additional guidance that it intends to publish. With this update, additions include plans to provide guidance for the low-income housing tax credit average-income test and guidance on private-activity bonds for affordable housing.