The U.S. Internal Revenue Service published the Initial version of the 2015-2016 Priority Guidance Plan on 31 July 2015. The guidance covers the 12-month period beginning July 2015 through June 2016 (the plan year). The fourth quarter update of the 2014-2015 plan was also published the same day.

The U.S. Treasury Department's Office of Tax Policy and the IRS use the Priority Guidance Plan to i…