| T.D. 8749(HTML, 11K) |
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12/31/1997 |
| Qualified Small Business Stock |
| This document contains final regulations relating to the 50-percent exclusion for gain from certain small business stock. The final regulations reflect changes to the law made by the Omnibus Budget Reconciliation Act of 1993 and provide guidance to the issuers and owners of the stock of certain small businesses. |
| T.D. 8748(HTML, 11K) |
|
12/31/1997 |
| Gasoline & Diesel Fuel Excise Tax; Special Rules for Alaska; Definitions |
| This document contains final regulations relating to the application of the diesel fuel excise tax to fuel used in Alaska. This document also contains final regulations relating to the gasoline and diesel fuel excise tax definitions. The regulations implement certain changes made by the Omnibus Budget Reconciliation Act of 1993 and the Small Business Job Protection Act of 1996. They affect certain enterers, refiners, retailers, terminal operators, throughputters, wholesale distributors, and users. |
| T.D. 8746(HTML, 77K) |
|
12/31/1997 |
| Amortizable Bond Premium |
| This document contains final regulations relating to the federal income tax treatment of bond premium and bond issuance premium. The regulations reflect changes to the law made by the Tax Reform Act of 1986 and the Technical and Miscellaneous Revenue Act of 1988. The regulations will provide needed guidance to holders and issuers of debt instruments. |
| T.D. 8744(HTML, 26K) |
|
12/31/1997 |
| Disclaimer of Interests & Powers |
| This document contains final regulations relating to the treatment of disclaimers for estate and gift tax purposes. The regulations clarify certain provisions governing the disclaimer of property interests and powers and, in addition, conform the regulations to court decisions holding the current regulation invalid with respect to the disclaimer of joint property interests. The final regulations will affect persons who disclaim property interests, powers, or interests in jointly owned property. |
| T.D. 8743(HTML, 14K) |
|
12/31/1997 |
| Sale of Residence from Qualified Personal Residence Trust |
| This document contains final regulations permitting the reformation of a personal residence trust or a qualified personal residence trust in order to comply with the applicable requirements for such trusts. The final regulations also provide that the governing instruments of such trusts must prohibit the sale of a residence held in the trust to the grantor of the trust, the grantor's spouse, or an entity controlled by the grantor or the grantor's spouse. |
| T.D. 8750(HTML, 133K) |
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12/31/1997 |
| General Rules for Making & Maintaining Qualified Electing Fund Elections |
| This document contains temporary regulations that provide guidance to a passive foreign investment company (PFIC) shareholder that makes the election under section 1295 (section 1295 election) to treat the PFIC as a qualified electing fund (QEF). This document also contains temporary regulations that provide guidance for shareholders that wish to make a section 1295 election that will apply on a retroactive basis (retroactive election). In addition, this document contains a temporary regulation that provides guidance under section 1291 to a PFIC shareholder that is a tax-exempt organization. |
| T.D. 8740(HTML, 10K) |
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12/30/1997 |
| Deposits of Excise Taxes |
| This document contains temporary regulations relating to the availability of the safe harbor deposit rule based on look-back quarter liability and affects persons required to make deposits of excise taxes. This document also contains temporary regulations relating to floor stocks taxes and affects persons liable for those taxes. The regulations implement certain changes made by the Small Business Job Protection Act of 1996 (the 1996 Act) and the Airport and Airway Trust Fund Tax Reinstatement Act of 1997 (the 1997 Act). |
| REG-209484-87(HTML, 29K) |
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12/30/1997 |
| FICA & FUTA Taxation of Amounts Under Employee Benefit Plans |
| This document contains a revision to the proposed regulations under section 3121(v)(2) of the Internal Revenue Code of 1986, relating to when amounts deferred under or paid from certain nonqualified deferred compensation plans are taken into account as "wages" for purposes of the taxes imposed by the Federal Insurance Contributions Act (FICA). This document extends the proposed general effective date of the regulations to January 1, 1998. The extension also applies to the proposed regulations under section 3306(r)(2), relating to when amounts deferred under or paid from certain nonqualified deferred compensation plans are taken into account as "wages" for purposes of the taxes imposed by the Federal Unemployment Tax Act (FUTA), due to the cross-reference therein to the provisions of the proposed regulations under section 3121(v)(2). |
| REG-105163-97(HTML, 11K) |
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12/17/1997 |
| Certain Investment Income |
| This document contains proposed regulations relating to the treatment of certain investment income under the qualifying income provisions of section 7704(d) and the application of the passive activity loss rules to publicly traded partnerships. The regulations would affect the classification of certain partnerships for federal tax purposes and would also affect the passive activity loss limitations with respect to items attributable to publicly traded partnerships. This document also contains a notice of public hearing on these proposed regulations. |
| T.D. 8739(HTML, 19K) |
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11/24/1997 |
| IRS Adoption Taxpayer Identification Numbers |
| This document contains final and temporary regulations under section 6109 relating to taxpayer identifying numbers. The final regulations include a cross reference to the temporary regulations, which provide rules for obtaining and using IRS adoption taxpayer identification numbers. The temporary regulations assist individuals who are in the process of adopting children and wish to claim certain tax benefits with respect to those children. The text of these temporary regulations also serves as the text of the proposed regulations set forth in the notice of proposed rulemaking on this subject in the Proposed Rules section of this issue of the Federal Register. |
| REG-103330-97(HTML, 9K) |
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11/20/1997 |
| IRS Adoption Taxpayer Identification Numbers |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations under section 6109 relating to taxpayer identifying numbers. The temporary regulations provide rules for obtaining and using IRS adoption taxpayer identification numbers. The temporary regulations assist individuals who are in the process of adopting children and wish to claim certain tax benefits with respect to these children. The text of those temporary regulations also serves as the text of these proposed regulations. This document also provides notice of a public hearing on these proposed regulations. |
| REG-251703-96(HTML, 32K) |
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10/21/1997 |
| Electing Small Business Trust |
| This document contains proposed regulations relating to the qualification and treatment of electing small business trusts (ESBTs). The proposed regulations interpret the rules added to the Internal Revenue Code (Code) by section 1302 of the Small Business Job Protection Act of 1996 and section 1601 of the Taxpayer Relief Act of 1997. In addition, the text of the temporary regulations published elsewhere in this issue of the Federal Register also serves as the text of these proposed regulations with respect to an ESBT or a trust described in section 401(a) or section 501(c)(3) that is exempt from taxation under section 501(a) not being treated as a deferral entity for purposes of '1.444-2T. The proposed regulations affect S corporations and certain trusts that own S corporation stock. This document also provides notice of a public hearing on these regulations. |
| REG-114000-97(HTML, 12K) |
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10/21/1997 |
| Withholding on Interest in the Case of Sales of Obligations Between Interest Payment Dates |
| This notice of proposed rulemaking provides guidance regarding the obligation to withhold on interest paid with respect to obligations in the case of the sale of obligations between interest payment dates. These regulations would affect United States and foreign withholding agents and recipients. This document also provides notice of a public hearing on these proposed regulations. |
| REG-107872-97(HTML, 15K) |
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10/21/1997 |
| Electronic Transmission of Form W-8 |
| This document contains proposed regulations relating to the submission of Form W-8, a withholding certificate, needed for purposes of chapters 3 and 61 of the Internal Revenue Code (Code) and other withholding or reporting provisions of the Code, such as section 3402, 3405, or 3406. The proposed regulations provide guidance to withholding agents and payors who wish to establish an electronic system for use by beneficial owners or payees in furnishing Form W-8. The proposed regulations state the general requirements that such an electronic system must satisfy so that a withholding agent or payor may rely on a Form W-8 transmitted through such a system. |
| T.D. 8722(HTML, 59K) |
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10/21/1997 |
| Guidance Regarding Claims for Certain Income Tax Convention Benefits |
| This document contains temporary regulations relating to eligibility for benefits under income tax treaties for payments to entities. The regulations set forth rules for determining whether U.S. source payments made to entities, including entities that are fiscally transparent in the United States and/or the applicable treaty jurisdiction, are eligible for treaty-reduced tax rates. The regulations affect the determination of tax treaty benefits with respect to U.S. source income of foreign persons. |
| T.D. 8724(HTML, 5K) |
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10/21/1997 |
| Section 1059 Extraordinary Dividends |
| This document contains final regulations under section 1059(e) of the Internal Revenue Code. The final regulations clarify that certain distributions in redemption of stock held by a corporate shareholder are treated as extraordinary dividends notwithstanding provisions that otherwise might exempt the distributions from extraordinary dividend treatment. Corporations that receive a distribution in redemption of stock may be affected if the redemption is either part of a partial liquidation of the redeeming corporation or is not pro rata as to all shareholders. |
| T.D. 8733(HTML, 25K) |
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10/21/1997 |
| Treaty-Based Return Positions |
| This document contains final regulations under section 6114 of the Internal Revenue Code of 1986 providing that reporting is specifically required if the residency of an individual is determined under a treaty and apart from the Code. The IRS concluded, in the process of completing the regulations under section 7701(b), that the rules of section 6114 should apply to individuals determining their residency under a treaty. These final regulations are necessary to implement the section 6114 rules to individuals determining their residency under a treaty. |
| T.D. 8734(HTML, 838K) |
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10/21/1997 |
| General Revision of Regulations Relating to Withholding of Tax on Certain U.S. Source Income Paid to Foreign Persons & Related Collection, Refunds, & Credits; Revision of Information Reporting & Backup Withholding Regulations; & Removal of Regulations Under Part 35a & of Certain Regulations Under Income Tax Treaties |
| This document contains final regulations relating to the withholding of income tax under sections 1441, 1442, and 1443 on certain U.S. source income paid to foreign persons, the related tax deposit and reporting requirements under section 1461, and the related requirements governing collection, refunds, and credits of withheld amounts under sections 1461 through 1463 and sections 6402 and 6413. Additionally, this document contains final regulations relating to the statutory exemption under sections 871(h) and 881(c) for portfolio interest. |
| T.D. 8735(HTML, 25K) |
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10/21/1997 |
| Certain Payments Made Pursuant to a Securities Lending Transaction |
| This document contains final Income Tax Regulations relating to the taxation of certain payments made pursuant to a cross-border securities lending transaction. These regulations provide guidance concerning the source, character, and income tax treaty treatment of such payments and affect United States payors and recipients and foreign payors and recipients. |
| T.D. 8677(HTML, 97K) |
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4/22/1997 |
| Consolidated Returns--Limitations on the Use of Certain Losses & Deductions |
| This document contains final and temporary amendments to the consolidated return regulations relating to deductions and losses of members. The temporary amendments concern the method for computing the limitations with respect to separate return limitation year (SRLY) losses. They also concern the rules relating to carryover and carryback of losses to consolidated and separate return years and to the built-in deduction rules. Final amendments are made amending definitions and redesignating sections displaced by temporary regulations. The text of these temporary regulations also serves as the text of the proposed regulations set forth in the notice of proposed rulemaking on this subject in the Proposed Rules section of this issue of the Federal Register. |
| REG-209823-96(HTML, 44K) |
|
4/22/1997 |
| Guidance Regarding Charitable Remainder Trusts |
| This document contains proposed amendments to the regulations under section 664 of the Internal Revenue Code of 1986 relating to charitable remainder trusts and under section 2702 relating to special valuation rules for transfers of interests in trusts. The proposed amendments contain rules on the conditions under which the governing instrument may provide for a change in the method of calculating the unitrust amount, the date by which the annuity amount or the unitrust amount under the fixed percentage method must be paid to the recipient, who is required to value unmarketable assets, and when section 2702 applies to certain charitable remainder unitrusts. The proposed regulations clarify existing law that prohibits allocating precontribution capital gain to trust income. The proposed amendments also contain an example illustrating how the ordering rule of section 664(b) applies to distributions from a charitable remainder unitrust using an income exception method to calculate the unitrust amount. This document also provides notice of a public hearing on these proposed regulations. |
| T.D. 8711(HTML, 55K) |
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4/7/1997 |
| Intangibles under Sections 1060 & 338 |
| This document amends the temporary regulations under sections 1060 and 338(b) of the Internal Revenue Code (Code) relating to purchase price allocations in taxable asset acquisitions and deemed asset purchases. The amendments revise the treatment of intangible assets in such acquisitions to take into account the enactment of section 197 by the Omnibus Budget Reconciliation Act of 1993. This document also makes conforming amendments to the final regulations under section 338. The regulations provide guidance regarding taxable asset acquisitions and deemed asset purchases resulting from elections under section 338. |
| T.D. 8697(HTML, 66K) |
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4/2/1997 |
| Simplification of Entity Classification Rules |
| This document contains final regulations that classify certain business organizations under an elective regime. These regulations replace the existing classification rules. |
| T.D. 8714(HTML, 8K) |
|
4/2/1997 |
| Estate & Gift Tax Marital Deduction |
| This document contains temporary regulations amending the final estate tax marital deduction regulations. The amendments are made to conform the estate tax regulations to recent court decisions. The amendments affect estates of decedents electing the marital deduction for qualified terminable interest property (QTIP) and the estates of the surviving spouses of such decedents. The text of these temporary regulations also serves as the text of the proposed regulations set forth in the notice of proposed rulemaking on this subject in the Proposed
Rules section of this issue of the Federal Register. |
| T.D. 8699(HTML, 3K) |
|
3/13/1997 |
| Credit for Employer Social Security Taxes Paid on Employee Tips |
| This document removes the temporary regulations pertaining to the credit for employer FICA taxes paid with respect to certain tips received by employees of food or beverage establishments. The temporary regulations were published in the Federal Register on December 23, 1993. Statutory changes made by the Small Business Job Protection Act of 1996 have made these temporary regulations obsolete. |
| T.D. 8701(HTML, 42K) |
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3/11/1997 |
| Treatment of Shareholders of Certain Passive Foreign Investment Companies |
| This document contains final regulations that provide rules for making the deemed sale and deemed dividend elections under section 1291(d)(2). These regulations reflect changes to the law made by the Tax Reform Act of 1986 and the Technical and Miscellaneous Revenue Act of 1988, and apply to a shareholder of a passive foreign investment company (PFIC) that elects under section 1295 to treat the PFIC as a qualified electing fund (QEF) for a taxable year after the first taxable year during the shareholder's holding period that the foreign corporation was a PFIC. |
| T.D. 8707(HTML, 42K) |
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3/4/1997 |
| Distribution of Marketable Securities by a Partnership |
| This document contains final regulations providing rules for partnership distributions of marketable securities under section 731(c) of the Internal Revenue Code of 1986, as amended, and for determining when those distributions are taxable to the distributee partner. The regulations reflect changes to the law made by the Uruguay Round Agreements Act enacted on December 8, 1994. |
| T.D. 8708(HTML, 149K) |
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3/4/1997 |
| Computation of Foreign Taxes Deemed Paid Under Section 902 Pursuant to a Pooling Mechanism for Undistributed Earnings & Foreign Taxes |
| This document contains final income tax regulations relating to the computation of foreign taxes deemed paid under section 902. Changes to the applicable law were made by the Tax Reform Act of 1986 and by the Technical and Miscellaneous Revenue Act of 1988 (TAMRA). These regulations provide guidance needed to comply with these changes and affect foreign corporations and their United States corporate shareholders. |
| REG-209121-89(HTML, 25K) |
|
2/20/1997 |
| Certain Asset Transfers to a Tax-Exempt Entity |
| This document contains proposed regulations. The proposed regulations effectuate provisions of the Tax Reform Act of 1986 and the Technical and Miscellaneous Revenue Act of 1988. The proposed regulations generally affect a taxable corporation that transfers all or substantially all of its assets to a tax- exempt entity or converts from a taxable corporation to a tax- exempt entity, and generally require the taxable corporation to recognize gain or loss in such a transaction. |
| REG-209709-94(HTML, 140K) |
|
2/19/1997 |
| Amortization of Intangible Property |
| This document contains proposed regulations relating to the amortization of certain intangible property. The proposed regulations reflect changes to the law made by the Omnibus Budget Reconciliation Act of 1993 (OBRA 93), and affect taxpayers who acquired intangible property after August 10, 1993, or made a retroactive election to apply OBRA 93 to intangibles acquired after July 25, 1991. This document also provides notice of a public hearing on the proposed regulations. |
| T.D. 8713(HTML, 8K) |
|
2/19/1997 |
| Section 42(d)(5) Federal Grants. |
| This document contains temporary regulations with respect to the low-income housing tax credit relating to the application of section 42(d)(5) to certain rental assistance programs under section 42(g)(2)(B)(i). The regulations clarify that certain types of federal rental assistance payments do not result in a reduction in the eligible basis of a low-income housing building. The text of these regulations also serves as the text of the proposed regulations set forth in the notice of proposed rulemaking on this subject in the Proposed Rules section of this issue of the Federal Register. |
| T.D. 8712(HTML, 235K) |
|
2/19/1997 |
| Definition of Private Activity Bonds |
| This document contains final regulations on the definition of private activity bonds applicable to tax-exempt bonds issued by state and local governments. These final regulations reflect changes to the applicable law that were made by the Technical and Miscellaneous Revenue Act of 1988. These regulations affect issuers of tax-exempt bonds and provide needed guidance for applying the private activity bond restrictions. |
| T.D. 8710(HTML, 24K) |
|
2/19/1997 |
| Revisions of the Section 338 Consistency Rules with Respect to Target Affiliates that are Controlled Foreign Corporations |
| This document contains final regulations relating to the consistency rules under section 338 of the Internal Revenue Code of 1986 that are applicable to certain cases involving controlled foreign corporations. The final regulations substantially revise and simplify the stock and asset consistency rules. The final regulations include the provisions of the consistency rules applicable to controlled foreign corporations contained in recent proposed and temporary regulations. The final regulations would affect taxpayers that own controlled foreign corporations. |
| REG-209332-80(HTML, 42K) |
|
2/19/1997 |
| Installment Obligations Received From Liquidating Corporations |
| This document withdraws portions of the notice of proposed rulemaking published in the Federal Register (49 FR 1742) on January 13, 1984, and proposes new regulations relating to the use of the installment method to report the gain recognized by a shareholder who receives, in exchange for the shareholder's stock, certain installment obligations that are distributed upon the complete liquidation of a corporation. Changes to the applicable tax law were made by the Installment Sales Revision Act of 1980 and the Tax Reform Act of 1986. These regulations would affect taxpayers who receive installment obligations in exchange for their stock upon the complete liquidation of a corporation. |
| REG-209824-96(HTML, 16K) |
|
2/19/1997 |
| Definition of Limited Partner for Self-Employment Tax Purposes |
| This document contains proposed amendments to the regulations relating to the self-employment income tax imposed under section 1402 of the Internal Revenue Code of 1986. These regulations permit individuals to determine whether they are limited partners for purposes of section 1402(a)(13), eliminating the uncertainty in calculating an individual's net earnings from self-employment under existing law. This document also contains a notice of public hearing on the proposed regulations. |
| REG-252665-96(HTML, 6K) |
|
2/19/1997 |
| Intangibles under Sections 1060 & 338 |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS amends the temporary regulations under sections 1060 and 338(b) of the Internal Revenue Code (Code) relating to purchase price allocations in taxable asset acquisitions and deemed asset purchases. The amendments revise the treatment of intangible assets in such acquisitions to take into account the enactment of section 197 by the Omnibus Budget Reconciliation Act of 1993. The regulations provide guidance to parties to taxable asset acquisitions and to deemed asset purchases resulting from elections under section 338. The text of those temporary regulations also serves as the text of these proposed regulations. This document also provides notice of a public hearing on these proposed regulations. |
| REG-254394-96(HTML, 5K) |
|
2/19/1997 |
| Section 42(d)(5) Federal Grants |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations with respect to the low-income housing tax credit relating to the application of section 42(d)(5) to certain rental assistance programs under section 42(g)(2)(B)(i). The text of those temporary regulations also serves as the text of these proposed regulations. |
| T.D. 8687(HTML, 78K) |
|
1/14/1997 |
| Source of Income from Sales of Inventory & Natural Resources Produced in One Jurisdiction & Sold in Another Jurisdiction |
| This document contains regulations governing the source of income from sales of natural resources or other inventory produced in the United States and sold outside the United States or produced outside the United States and sold in the United States. This document affects persons who produce natural resources or other inventory in the United States and sell outside the United States, or produce natural resources or other inventory outside the United States and sell in the United States. |
| REG-208172-91(HTML, 35K) |
|
1/14/1997 |
| Basis Reduction Due to Discharge of Indebtedness |
| This document contains proposed regulations that provide ordering rules for the reduction of bases of property under sections 108 and 1017 of the Internal Revenue Code of 1986. The regulations will affect taxpayers that exclude discharge of indebtedness from gross income under section 108. |
| T.D. 8703(HTML, 25K) |
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1/3/1997 |
| Automatic Extension of Time for Filing Individual Income Tax Returns; Automatic Extension of Time to File Partnership Return of Income, Trust Income Tax Return, & U.S. Real Estate Mortgage Investment Conduit Income Tax Return |
| This document contains final regulations that reflect new and simpler procedures for an individual to obtain an automatic extension of time to file an individual income tax return. This document also contains final regulations that provide new and simpler procedures for a partnership, trust, and Real Estate Mortgage Investment Conduit (REMIC) to obtain an automatic extension of time to file partnership, trust, and REMIC returns. |
| REG-242996-96(HTML, 5K) |
|
1/3/1997 |
| Inflation-Indexed Debt Instruments |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations relating to the federal income tax treatment of inflation-indexed debt instruments, including Treasury Inflation-Indexed Securities. The text of the temporary regulations also serves as the text of the proposed regulations. This document also provides notice of a public hearing on the proposed regulations. |
| T.D. 8709(HTML, 43K) |
|
1/3/1997 |
| Inflation-Indexed Debt Instruments |
| This document contains temporary regulations relating to the federal income tax treatment of inflation-indexed debt instruments, including Treasury Inflation-Indexed Securities. The text of the temporary regulations also serves as the text of the proposed regulations set forth in the notice of proposed rulemaking on this subject in the Proposed Rules section of this issue of the Federal Register. This document also contains amendments to final regulations to reflect the addition of the temporary regulations. The regulations in this document provide needed guidance to holders and issuers of inflation-indexed debt instruments. |
