2005 Notices of Interest to Tax Professionals with Code Section References

These documents are all Notices that have been published in the weekly Internal Revenue Bulletin (IRB) and are of special interest to Tax Professionals. Each listing includes a reference to the applicable Code Section.

A "Notice" is a public pronouncement that may contain guidance that involves substantive interpretations of the Code or other provisions of law.

Notices are either in HTML or in the Adobe Acrobat PDF format. Internal Revenue Bulletin Summary pages are in HTML format.

Notices	Bulletin	Date of IRB


Notice 2005-95(HTML)	IRB #2005-51(HTML)	December 19, 2005
Section 401(a) of the Code: Plan amendments; retroactive annuity starting date; elective deferrals. This notice clarifies the interaction of the amendment timing deadlines for plans qualified under section 401(a) of the Code as set forth in Rev. Proc. 2005-66 with the deadlines set forth in various other published guidance. This notice also provides transitional relief from certain deadlines, thus giving sponsors, practitioners, and employers additional time to adopt those required amendments. Notices 2004-84 and 2005-5 modified.
Notice 2005-90(HTML)	IRB #2005-51(HTML)	December 19, 2005
Section 901(1)(3) of the Code: This notice announces that Treasury and the Service intend to exercise regulatory authority under section 901(1)(3) of the Code not to apply the credit disallowance rules of section 901(1) to foreign withholding taxes on royalties received in "ordinary course" back-to-back computer software licensing arrangements. The notice solicits comments on the exception as well as related issues under sections 901(1) and 901(k).
Notice 2005-87(HTML)	IRB #2005-50(HTML)	December 12, 2005
Section 415 of the Code: Application of regulations under section 415; plan amendments. This notice provides that when the final regulations under section 415 of the Code are published, the grandfather rule of regulations section 1.415(a)-1(g)(3) for preexisting benefits in defined benefit plans will be expanded.
Notice 2005-83(HTML)	IRB #2005-49(HTML)	December 5, 2005
Section 223(c)(2) of the Code: This notice provides relief for certain health plans with non-calendar year renewal dates that otherwise qualify as high-deductible health plans (HDHPs), except that the plans provide state-mandated benefits without regard to a deductible or with a deductible below the minimum annual deductible specified in section 223(c)(2) of the Code. Notice 2004-43 amplified.
Notice 2005-79(HTML)	IRB #2005-46(HTML)	November 14, 2005
Section 4251 of the Code: This notice supersedes Notice 2004-57, 2004-2 C.B. 376, while confirming that the Service will continue to assess and collect the tax under section 4251 of the Code on all taxable communications services, including communications services similar to those at issue in American Bankers Insurance Group v. United States, 408 F.3d 1328 (11th Cir. 2005), rev'g 308 F. Supp. 2d 1360 (S.D. Fla. 2004). Notice 2004-57 superseded.
Notice 2005-77(HTML)	IRB #2005-46(HTML)	November 14, 2005
Section 6012 of the Code: This notice announces that Treasury and the Service will amend the regulations under section 6012 of the Code to create a new exception to the filing requirement for nonresident alien individuals who are required to file a return under the present regulations solely because they earn wages that are effectively connected with a United States trade or business.
Notice 2005-76(HTML)	IRB #2005-46(HTML)	November 14, 2005
Section 3402 of the Code: This notice provides new rules for determining the amount of income tax employers must withhold under section 3402 of the Code from wages paid for services performed by nonresident alien employees within the United States. The notice also provides new rules for use by nonresident alien employees in completing Form W-4, Employee's Withholding Allowance Certificate. The rules are effective with respect to wages paid on or after January 1, 2006.
Notice 2005-74(HTML)	IRB #2005-42(HTML)	October 17, 2005
Section 367(a) of the Code: This notice announces that Treasury and the Internal Revenue Service (IRS) will amend the regulations under section 367(a) of the Code to clarify the application of regulations section 1.367(a)-8, including the provisions addressing the treatment of gain recognition agreements as a result of certain common asset reorganizations involving the U.S. transferor, the transferee foreign corporation, and the transferred corporation.
Notice 2005-70(HTML)	IRB #2005-41(HTML)	October 11, 2005
Section 362(e)362(e)(2)(C) of the Code: This notice provides guidance on how to make an election under section 362(e)(2)(C) of the Code.
Notice 2005-58(HTML)	IRB #2005-33(HTML)	August 15, 2005
Section 457 of the Code: This notice addresses certain income tax issues with respect to nonqualified deferred compensation plans maintained by federal credit unions, including whether a federal credit union can maintain an eligible nonqualified deferred compensation plan described in section 457 of the Code, and issues relating to plans in effect on publication of this notice that are intended to satisfy section 457.
Notice 2005-48(PDF, 109K)	IRB #2005-27(HTML)	July 5, 2005
Section 142(l) of the Code: This notice solicits applications for designation of a project as a qualified green building and sustainable design project under section 142(l) of the Code. The notice also provides guidance on the requirements a project must meet in order to be eligible for designation as a qualified green building and sustainable design project.
Notice 2005-45(PDF, 185K)	IRB #2005-24(HTML)	June 13, 2005
Section 274(e) of the Code: Deductions for entertainment use of aircraft. This notice provides interim guidance to taxpayers on the limitation under section 274(e) of the Code on the deductible amount of trade or business expenses incurred after October 22, 2004, for use of a business aircraft for entertainment.
Notice 2005-44(PDF, 115K)	IRB #2005-25(HTML)	June 20, 2005
Section 170(f)(12) of the Code: Charitable contributions of qualified vehicles. This notice provides interim guidance under section 170(f)(12) of the Code regarding the deductibility of vehicle contributions. The notice explains the new requirements applicable to the acknowledgments that donee organizations provide to vehicle donors. In addition, the notice provides guidance on the new penalties section 6720 imposes on donee organizations that provide a false or fraudulent acknowledgment of a vehicle contribution, or fail to properly furnish the acknowledgment. Sections 170(f)(12) and 6720 are effective for vehicle contributions made after December 31, 2004.
Notice 2005-43(PDF, 347K)	IRB #2005-24(HTML)	June 13, 2005
Section 83 of the Code: This notice includes a proposed revenue procedure providing additional rules for the elective safe harbor under the proposed regulations under section 83 of the Code governing the application of section 83 to the transfer of a partnership interest in connection with the performance of services.
Notice 2005-41(PDF, 54K)	IRB #2005-23(HTML)	June 6, 2005
Section 170 of the Code: Charitable contributions; qualified intellectual property. This notice explains how amendments to section 170 of the Code made by the American Jobs Creation Act of 2004 limit the initial charitable contribution deduction allowable to a donor of qualified intellectual property. The notice also provides guidance on how, under the amendments, the donor may qualify for additional charitable contribution deductions based on the income received by or accrued to the donee organization with respect to the donated property.
Notice 2005-40(PDF, 92K)	IRB #2005-21(HTML)	May 23, 2005
Section 412(b)(7)(F) of the Code: Election to defer a net experience loss; notice to Pension Benefit Guaranty Corporation; notice to plan participants and beneficiaries; notice to employers; notice to labor organizations. This notice provides guidance regarding the election that can be made for certain multiemployer plans to defer charges with respect to certain net experience losses pursuant to section 412(b)(7)(F) of the Code and section 302(b)(7)(F) of the Employee Retirement Income Security Act of 1974 (ERISA), as well as certification and notification requirements.
Notice 2005-38(PDF, 280K)	IRB #2005-22(HTML)	May 31, 2005
Section 965 of the Code: This document provides guidance under new section 965 of the Code generally concerning limitations described in sections 965(b)(1), (2), and (3) on the amount of dividends that a corporation that is a U.S. shareholder of a controlled foreign corporation (CFC) may treat as eligible for the dividends received deduction (DRD) under section 965(a), including the effects of certain corporate transactions on such limitations. In general, and subject to limitations and conditions, section 965(a) provides that a corporation that is a U.S. shareholder of a CFC may elect, for one taxable year, an 85 percent DRD with respect to certain cash dividends it receives from its CFCs. This document also addresses certain foreign tax credit and other consequences of elections under section 965. See also Notice 2005-10, 2005-6 I.R.B. 474, which primarily addresses requirements concerning domestic reinvestment plans described in section 965(b)(4). Notice 2005-10 modified.
Notice 2005-32(PDF, 101K)	IRB #2005-16(HTML)	April 18, 2005
Sections 734 and 743 of the Code: This notice provides interim procedures for partnerships and their partners to comply with the mandatory basis adjustment provisions of sections 734 and 743 of the Code. This notice also provides interim procedures for electing investment partnerships and their partners to comply with sections 743(e) and 6031(f).
Notice 2005-29(PDF, 92K)	IRB #2005-13(HTML)	March 28, 2005
Section 470 of the Code: Transition relief for certain partnerships and other passthru entities under section 470. This notice provides transition relief under section 470 of the Code to partnerships and other pass-thru entities that are treated as holding tax-exempt use property because of the application of section 168(h)(6).
Notice 2005-28(PDF, 88K)	IRB #2005-13(HTML)	March 28, 2005
Section 142(l) of the Code: This notice extends the deadline by which state and local governments must nominate projects for designation by the Secretary as qualified green building and sustainable design projects under section 142(l) of the Code.
Notice 2005-21(PDF, 131K)	IRB #2005-11(HTML)	March 14, 2005
Sections 936 and 30A of the Code provide, subject to certain limitations and conditions, special tax credits for taxable income of a domestic corporation derived from the active conduct of a trade or business in a possession of the United States. Pursuant to sections 936(j) and 30A(h), the tax credits provided by sections 936 and 30A will not be allowed for taxable years beginning after December 31, 2005. This notice provides guidance, based on existing provisions of the Code and Treasury regulations, with respect to issues that are likely to arise in connection with the termination of sections 936 and 30A.
Notice 2005-20(PDF, 102K)	IRB #2005-9(HTML)	February 28, 2005
Section 172(f)(1)(B) of the Code: This notice addresses several questions of statutory interpretation arising under section 172(f)(1)(B) of the Code prior to its amendment by section 3004(a) of the Tax and Trade Relief Extension Act of 1998.
Notice 2005-18(PDF, 67K)	IRB #2005-9(HTML)	February 28, 2005
Section 809 of the Code: The differential earnings rate for 2004 is tentatively determined for use by mutual life insurance companies to compute their income tax liability for 2004.
Notice 2005-15(PDF, 49K)	IRB #2005-7(HTML)	February 14, 2005
Sections 704(c)(1)(B) and 737 of the Code: This notice provides that the Treasury Department and the Service intend to issue regulations involving partnerships under sections 704(c)(1)(B) and 737 of the Code implementing the principles of Rev. Rul. 2004-43, and that the regulations will be effective for distributions occurring after the date on which the notice is released to the public.
Notice 2005-12(PDF, 65K)	IRB #2005-7(HTML)	February 14, 2005
Section 6662A of the Code: This notice provides interim guidance relating to section 6662A of the Code, Imposition of accuracy-related penalty on understatements with respect to reportable transactions, section 6662, Imposition of accuracy-related penalty on underpayments, and section 6664, Definitions and special rules.
Notice 2005-11(PDF, 50K)	IRB #2005-7(HTML)	February 14, 2005
Section 6707A of the Code: This notice provides interim guidance relating to section 6707A of the Code, Penalty for failure to include reportable transaction information with return, as added by the American Jobs Creation Act of 2004. This notice states that a taxpayer may incur a penalty under section 6707A with respect to each failure to disclose a reportable transaction within the time, and in the form and manner, provided by section 6011 and its regulations.
Notice 2005-10(PDF, 131K)	IRB #2005-6(HTML)	February 7, 2005
Section 965 of the Code: This document provides guidance under new section 965 of the Code enacted by the American Jobs Creation Act of 2004. In general, and subject to limitations and conditions, section 965(a) provides that a corporation that is a U.S. shareholder of a controlled foreign corporation (CFC) may elect, for one taxable year, an 85 percent dividends received deduction (DRD) with respect to certain cash dividends it receives from its CFCs. Section 965(f) provides that taxpayers may elect the application of section 965 for either the taxpayer’s last taxable year which begins before October 22, 2004, or the taxpayer’s first taxable year which begins during the one-year period beginning on October 22, 2004.
Notice 2005-8(PDF, 64K)	IRB #2005-4(HTML)	January 24, 2005
Sections 707(c) & 731 of the Code: This notice states that a partnership’s contributions to a partner’s Health Savings Account (HSA) may be treated as distributions under section 731 of the Code or as guaranteed payments under section 707(c). HSA contributions treated as section 731 distributions are not deductible by the partnership, and may be deductible by the partner under sections 223(a) and 62(a)(19) and are excluded from net earnings from self-employment. HSA contributions treated as guaranteed payments under section 707(c) derived from the partnership’s trade or business and for services rendered to the partnership may be deductible by the partnership, are included in the partner’s gross income, may be deductible by the partner under sections 223(a) and 62(a)(19), and are included in net earnings from self-employment. An S corporation’s contributions to 2-percent shareholder-employee’s HSA for services rendered to the S corporation are treated as section 707(c) guaranteed payments. For employment tax purposes, the 2-percent shareholder-employee is treated as an employee subject to FICA, unless the requirements of section 3121(a)(2)(B) are met.
Notice 2005-7(PDF, 89K)	IRB #2005-3(HTML)	January 18, 2005
Section 6043A of the Code: This notice addresses the applicability of section 6043A of the Code and requests public comments on issues relating to information reporting for acquisitions under section 6043A by March 1, 2005. The notice provides that taxpayers required to report under regulations sections 1.6043-4T and 1.6045-3T must continue to report pursuant to those regulations.
Notice 2005-6(PDF, 48K)	IRB #2005-5(HTML)	January 31, 2005
Section 354 of the Code: This notice announces that the Treasury Department and the Service will issue regulations providing that certain exchanges described in section 354 of the Code by a U.S. person involving securities of a foreign or domestic corporation will not be subject to section 367(a).
Notice 2005-1(PDF, 199K)	IRB #2005-2(HTML)	January 10, 2005
Section 409A of the Code: This notice provides general and transitional guidance relating to new section 409A of the Code, added as part of the American Jobs Creation Act of 2004. Section 409A provides certain rules relating to nonqualified deferred compensation plans, which generally are effective as of January 1, 2005. This notice provides general guidance with respect to what arrangements are covered by section 409A. In addition, this notice provides transitional guidance generally covering the calendar year 2005.

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