| T.D. 9166(PDF, 338K) |
|
12/30/2004 |
| RIN 0938-AL43 |
| This document contains final regulations governing portability requirements for group health plans and issuers of health insurance coverage offered in connection with a group health plan. The rules contained in this document implement changes made to the Internal Revenue Code, the Employee Retirement Income Security Act, and the Public Health Service Act enacted as part of the Health Insurance Portability and Accountability Act of 1996. |
| REG-130370-04(PDF, 142K) |
|
12/29/2004 |
| Notice of Proposed Rulemaking for Health Coverage Portability: Tolling Certain Time Periods and Interaction with the Family and Medical Leave Act under HIPAA Titles I & IV |
| These proposed rules would clarify certain portability requirements for group health plans and issuers of health insurance coverage offered in connection with a group health plan. These rules propose to implement changes made to the Internal Revenue Code, the Employee Retirement Income Security Act, and the Public Health Service Act enacted as part of the Health Insurance Portability and Accountability Act of 1996. |
| T.D. 9169(PDF, 487K) |
|
12/29/2004 |
| Retirement Plans; Cash or Deferred Arrangements under Section 401(k) and Matching Contributions or Employee Contributions under Section 401(m) Regulations |
| This document contains final regulations that provide guidance for certain retirement plans containing cash or deferred arrangements under section 401(k) and providing for matching contributions or employee contributions under section 401(m). These regulations affect sponsors of plans that contain cash or deferred arrangements or provide for employee or matching contributions, and participants in these plans. |
| T.D. 9171(PDF, 104K) |
|
12/28/2004 |
| New Markets Tax Credit |
| These regulations finalize the rules relating to the new markets tax credit under section 45D and replace the temporary regulations which expire on December 23, 2004. A taxpayer making a qualified equity investment in a qualified community development entity that has received a new markets tax credit allocation may claim a 5-percent tax credit with respect to the qualified equity investment on each of the first 3 credit allowance dates and a 6-percent tax credit with respect to the qualified equity investment on each of the remaining 4 credit allowance dates. |
| T.D. 9170(PDF, 28K) |
|
12/22/2004 |
| Section 1374 Effective Dates |
| These temporary regulations provide guidance concerning the applicability of section 1374 to S corporations that acquire assets in carryover basis transactions from C corporations on or after December 27, 1994, and to certain corporations that terminate S corporation status and later elect again to become S corporations. 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 in this issue of the Federal Register. |
| REG-139683-04(PDF, 15K) |
|
12/22/2004 |
| Section 1374 Effective Dates |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations that provide guidance concerning the applicability of section 1374 to S corporations that acquire assets in carryover basis transactions from C corporations on or after December 27, 1994, and to certain corporations that terminate S corporation status and later elect again to become S corporations. The text of these regulations also serves as the text of these proposed regulations. DATES: Written |
| T.D. 9165(PDF, 66K) |
|
12/20/2004 |
| Regulations Governing Practice Before the Internal Revenue Service |
| This document contains final regulations revising the regulations governing practice before the Internal Revenue Service (Circular 230). These regulations affect individuals who p ractice before the Internal Revenue Service. These final regulations set forth best practices for tax advisors providing advice to taxpayers relating to Federal tax issues or submissions to the IRS. These final regulations also provide standards for covered opinions and other written advice. |
| REG-159824-04(PDF, 45K) |
|
12/20/2004 |
| Regulations Governing Practice Before the Internal Revenue Service |
| This notice proposes amendments to the regulations governing practice before the Internal Revenue Service (Circular 230). These regulations affect individuals who are eligible to practice before the IRS. The proposed modifications set forth standards for State or local bond opinions. This document also provides notice of a public hearing regarding the proposed regulations. |
| T.D. 9167(PDF, 76K) |
|
12/20/2004 |
| Student FICA Exception |
| This document contains final regulations providing guidance regarding the employment tax exceptions for student services. These regulations affect schools, colleges, and universities and their employees. |
| T.D. 9164(PDF, 110K) |
|
12/17/2004 |
| Prohibited Allocations of Securities in an S Corporation |
| This document contains temporary regulations concerning requirements for employee stock ownership plans (ESOPs) holding stock of Subchapter S corporations. The temporary regulations provide guidance on the definition and effects of a prohibited allocation under section 409(p), identification of disqualified persons and determination of a nonallocation year, calculation of synthetic equity under section 409(p)(5), and standards for determining whether a transaction is an avoidance or evasion of section 409(p). These temporary regulations generally affect plan sponsors of, and participants in, ESOPs holding stock of Subchapter S corporations. 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 in this issue of the Federal Register. |
| REG-129709-03(PDF, 15K) |
|
12/17/2004 |
| Prohibited Allocations of Securities in an S Corporation |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations that provide guidance on the definition and effects of a prohibited allocation under section 409(p), identification of disqualified persons and determination of a nonallocation year, calc ulation of synthetic equity under section 409(p)(5), and standards for determining whether a transaction is an avoidance or evasion of section 409(p). |
| T.D. 9163(PDF, 2.8M) |
|
12/7/2004 |
| Automatic Extension of Time To File Certain Information Returns and Exempt Organization Returns |
| This document contains final regulations relating to the automatic extension of time to file certain information returns and exempt organization returns. The final regulations adopt temporary rules that removed the requirement for a signature and an explanation to obtain an automatic extension of time to file these returns. The final regulations also remove the requirement for a signature to obtain an automatic extension of time to file corporation income tax returns. The final regulations affect taxpayers who need an extension of time to file certain information returns, exempt organization returns, and/or corporation income tax returns. |
| T.D. 9162(PDF, 20K) |
|
12/1/2004 |
| Federal Unemployment Tax Deposits -- De Minimis Threshold |
| This document contains final regulations relating to the deposit of Federal Unemployment Tax Act (FUTA) taxes. The regulations change the accumulated amount of tax liability above which taxpayers must begin depositing Federal unemployment taxes. The regulations affect employers that have an accumulated FUTA tax liability of $500 or less. |
| REG-149519-03(PDF, 111K) |
|
11/26/2004 |
| Section 707 Regarding Disguised Sales, Generally |
| This document contains proposed regulations relating to the treatment of transactions between a partnership and its partners as disguised sales of partnership interests between the partners under section 707(a)(2)(B) of the Internal Revenue Code (Code). The proposed regulations affect partnerships and their partners, and are necessary to provide guidance needed to comply with the applicable tax law. This document also provides notice of a public hearing on these proposed regulations. |
| REG-145535-02(PDF, 55K) |
|
11/22/2004 |
| Guidance regarding predecessors and successors under section 355(e); limitation on gain recognition under section 355(e) |
| This document contains proposed regulations that define the terms predecessor and successor for purposes of section 355(e). These proposed regulations provide guidance in determining whether a corporation is a predecessor or successor of a distributing or controlled corporation, as well as rules to assist taxpayers in determining whether an acquisition of an interest in a corporation would cause a distributing corporation to recognize gain under section 355(e). These proposed regulations affect corporations that distribute the stock of controlled corporations in distributions described in section 355. |
| REG-155608-02(PDF, 206K) |
|
11/15/2004 |
| Revised Regulations Concerning Section 403(b) Tax-Sheltered Annuity Contracts |
| This document contains proposed regulations under section 403(b) of the Internal Revenue Code and under related provisions of sections 402(b), 402(g), 414(c), and 3121(a)(5)(D). The proposed regulations would provide updated guidance on section 403(b) contracts of public schools and tax-exempt organizations described in section 501(c)(3). These regulations would provide the public with guidance necessary to comply with the law and will affect sponsors of section 403(b) contracts, administrators, participants and beneficiaries. |
| T.D. 9159(PDF, 24K) |
|
11/15/2004 |
| Payments Made by Reason of a Salary Reduction Agreement |
| This document contains a temporary regulation that defines the term "salary reduction agreement" for purposes of section 3121(a)(5)(D) of the Internal Revenue Code (Code). The temporary regulation provides guidance to employers (public educational institutions and section 501(c)(3) organizations) purchasing annuity contracts described in section 403(b) on behalf of their employees. The text of the temporary regulation also serves as the text of the proposed regulation set forth in the notice of proposed rulemaking on this subject in the Proposed Rules section in this issue of the Federal Register. |
| REG-114726-04(PDF, 87K) |
|
11/10/2004 |
| Distributions from a Pension Plan under a Phased Retirement Program |
| This notice of proposed rulemaking contains proposed amendments to the Income Tax Regulations under section 401(a) of the Internal Revenue Code. These proposed regulations provide rules permitting distributions to be made from a pension plan under a phased retirement program and set forth requirements for a bona fide phased retirement program. The proposed regulations will provide the public with guidance regarding distributions from qualified pension plans and will affect administrators of, and participants in, such plans. |
| T.D. 9160(PDF, 55K) |
|
10/25/2004 |
| Information Reporting Under Section 6050P for Discharges of Indebtedness |
| This document contains final regulations relating to the information reporting requirement under section 6050P of the Internal Revenue Code (Code) for discharges of indebtedness. These final regulations reflect the enactment of section 6050P(c)(2)(D) by the Ticket to Work and Work Incentives Improvement Act of 1999. These final regulations provide guidance on the information reporting requirements for discharges of indebtedness by organizations that have a significant trade or business of lending money. |
| REG-138176-02(PDF, 7K) |
|
9/21/2004 |
| Timely Mailing Treated As Timely Filing |
| This document contains proposed regulations amending Treasury Regulation §301.7502-1 to provide that, other than direct proof of actual delivery, a registered or certified mail receipt is the only prima facie evidence of delivery of documents that have a filing deadline prescribed by the internal revenue laws. The proposed regulations are necessary to provide greater certainty on this issue and to provide specific guidance. The proposed regulations affect taxpayers who mail Federal tax documents to the Internal Revenue Service or the United States Tax Court. |
| T.D. 9156(PDF, 52K) |
|
9/15/2004 |
| Place for Filing |
| This document contains final regulations that update obsolete references in the existing regulations under section 6091 of the Internal Revenue Code (Code) regarding the place for filing hand-carried returns and other documents. These final regulations reflect changes in the organizational structure of the IRS but do not make substantive changes to taxpayers’ current ability to hand carry returns to a local IRS office. |
| T.D. 9161(PDF, 14K) |
|
9/15/2004 |
| Electronic Filing of Duplicate Forms 5472 |
| This document contains a final regulation providing that a Form 5472 that is timely filed electronically is treated as satisfying the requirement timely to file a duplicate Form 5472 with the Internal Re venue Service Center in Philadelphia, Pennsylvania. This action is necessary to clarify how the duplicate filing requirements for Form 5472 apply when a reporting corporation electronically files its income tax return (including any attachments such as Form 5472). This document affects corporations subject to the reporting requirements in sections 6038A and 6038C that file Form 5472 electronically. |
| T.D. 9158(PDF, 32K) |
|
9/15/2004 |
| Treatment of Certain Nuclear Decommissioning Funds for Purposes of Allocating Purchase Price in Certain Deemed and Actual Asset Acquisitions |
| This document contains final and temporary regulations relating to the allocation of purchase price in certain deemed and actual asset acquisitions under sections 338 and 1060. These regulations affect sellers and purchasers of nuclear power plants or of the stock of corporations that own nuclear power plants. 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 in this issue of the Federal Register. |
| REG-169135-03(PDF, 13K) |
|
9/15/2004 |
| Treatment of Certain Nuclear Decommissioning Funds for Purposes of Allocating Purchase Price in Certain Deemed and Actual Asset Acquisitions |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations relating to the treatment of certain nuclear decommissioning funds in the allocation of purchase price in deemed and actual asset acquisitions under sections 338 and 1060. The text of those temporary regulations also serves as the text of these proposed regulations. |
| REG-145988-03(PDF, 43K) |
|
9/7/2004 |
| Predeceased Parent Rule |
| This document contains proposed regulations relating to the predeceased parent rule, which provides an exception to the general rules of section 2651 of the Internal Revenue Code (Code) for determining the generation assignment of a transferee of property for generation-skipping transfer (GST) tax purposes. These proposed regulations also provide rules regarding a transferee assigned to more than one generation. The proposed regulations reflect changes to the la w made by the Taxpayer Relief Act of 1997 and generally apply to individuals, trusts, and estates. This document also provides notice of a public hearing on these proposed regulations. |
| REG-101282-04(PDF, 42K) |
|
9/3/2004 |
| Treatment of a Stapled Foreign Corporation under Sections 269B and 367(b) |
| This document contains a notice of proposed rulemaking concerning the definition and tax treatment of a stapled foreign corporation, which generally is treated for tax purposes as a domestic corporation under section 269B of the Internal Revenue Code. DATES: Written or electronic comments must be received by December 6, 2004. Outlines of topics to be discussed at the public hearing scheduled for December 15, 2004, 2004, at 10 a.m. must be received by December 6, 2004. |
| T.D. 9157(PDF, 134K) |
|
8/30/2004 |
| Guidance Regarding the Treatment of Certain Contingent Payment Debt Instruments with One or More Payments that Are Denominated in, or Determined by Reference to, a Nonfunctional Currency |
| This document contains final regulations regarding the treatment of contingent payment debt instruments for which one or more payments are denominated in, or determined by reference to, a currency other than the taxpayer’s functional currency. These regulations are necessary because current regulations do not provide guidance concerning the tax treatment of such instruments. The regulations affect issuers and holders of such instruments. |
| REG-108637-03(PDF, 29K) |
|
8/26/2004 |
| Accrual for Certain REMIC Regular Interests |
| This document contains proposed regulations relating to the accrual of original issue discount (OID) on certain real estate mortgage investment conduit (REMIC) regular interests. The proposed regulations are necessary to provide guidance to REMICs, REMIC regular interest holders and information reporters regarding the accrual of OID. This document also provides notice of a public hearing on the proposed regulations. DATES: Written or electronic comments must be received by November 23, 2004. Outlines of topics to be discussed at the public hearing scheduled for November 17, 2004, must be received by October 27, 2004. |
| REG-106679-04(PDF, 57K) |
|
8/26/2004 |
| Interest-only REMIC Regular Interests |
| This document describes and explains rules that the IRS and Treasury are considering and may propose in a notice of proposed rulemaking regarding the proper timing of income or deduction attributable to an interest-only regular interest in a Real Estate Mortgage Investment Conduit (REMIC). This document also invites comments from the public regarding these rules and other alternative rules. All materials submitted will be available for public inspection and copying. |
| T.D. 9154(PDF, 20K) |
|
8/26/2004 |
| Extension of Time to Elect Method for Determining Allowable Loss |
| This document contains temporary regulations under section 1502 of the Internal Revenue Code of 1986. The temporary regulations extend the time for consolidated groups to elect to apply a method for determining allowable loss on a disposition of subsidiary stock, and permit consolidated groups to revoke such elections. The temporary regulations affect corporations filing consolidated returns, both during and after the period of affiliation, and also affect purchasers of the stock of members of a consolidated group. The text of these temporary regulations serves as the text of the proposed regulations set forth in the notice of proposed rulemaking on this subject in the Proposed Rules section in this issue of the Federal Register. |
| REG-135898-04(PDF, 20K) |
|
8/26/2004 |
| Extension of Time to Elect Method for Determining Allowable Loss |
| This document contains proposed regulations under section 1502 of the Internal Revenue Code of 1986. The proposed regulations extend the time for consolidated groups to elect to apply a method for determining allowable loss on a disposition of subsidiary stock, and permit consolidated groups to revoke such elections. The proposed regulations affect corporations filing consolidated returns, both during and after the period of affiliation, and also affect purchasers of the stock of members of a consolidated group. The text of the temporary regulations published in this issue of the Federal Register serves as the text of these proposed regulations. |
| REG-145987-03(PDF, 59K) |
|
8/24/2004 |
| Qualified Severance of a Trust for Generation-Skipping Transfer (GST) Tax Purposes |
| These proposed regulations provide guidance regarding the qualified severance of a trust for generation-skipping transfer (GST) tax purposes under section 2642(a)(3) of the Internal Revenue Code, which was added to the Code by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). The regulations will affect trusts that are subject to the GST tax. |
| T.D. 9155(PDF, 19K) |
|
8/18/2004 |
| Guidance Under Section 1502; Treatment of Loss Carryovers from Separate Return Limitation Years. |
| This document contains temporary regulations under section 1502 that provide guidance regarding the treatment of certain losses available to acquired subsidiaries as a result of an election made under the section 1502 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 in this issue of the Federal Register. These regulations apply to corporations filing consolidated returns. |
| REG-129274-04(PDF, 7K) |
|
8/18/2004 |
| Guidance Under Section 1502; Treatment of Loss Carryovers from Separate Return Limitation Years. |
| In the Rules and Regulations section of this issue of the Federal Register, the Treasury Department and the IRS are issuing temporary regulations providing guidance regarding the treatment of certain losses available to acquired subsidiaries as a result of an election made under the section 1502 regulations. The text of these proposed regulations also serves as the text of the temporary regulations set forth in this issue of the Federal Register. These regulations apply to corporations filing consolidated returns. |
| REG-106889-04(PDF, 47K) |
|
8/17/2004 |
| Reorganizations under Section 368(a)(1)(E) or (F) |
| This document contains proposed regulations that provide guidance regarding the requirements for a transaction to qualify as a reorganization under section 368(a)(1)(E) or (F) of the Internal Revenue Code. The proposed regulations will affect corporations and their shareholders. |
| REG-130863-04(PDF, 7K) |
|
8/17/2004 |
| Corporate Reorganizations; Transfers of Assets or Stock Following a Reorganization |
| This document contains proposed regulations that provide guidance regarding the effect of certain transfers of assets or stock on the qualification of certain transactions as reorganizations under section 368(a). This document also contains proposed regulations that provide guidance on the continuity of business enterprise requirement and the definition of a party to a reorganization. These regulations affect corporations and their shareholders. |
| REG-154077-03(PDF, 18K) |
|
8/16/2004 |
| Real Estate Mortgage Investment Conduits |
| This document contains proposed regulations relating to the application of the unified partnership audit procedures to disputes regarding the ownership of residual interests in a Real Estate Mortgage Investment Conduit (REMIC). These regulations will affect taxpayers that invest in REMIC residual interests. |
| REG-136481-04(PDF, 60K) |
|
8/16/2004 |
| Source of Compensation for Labor or Personal Services |
| This document contains new proposed rules that describe the proper basis for determining the source of compensation from labor or personal services performed partly within and partly without the United States. The new proposed rules will affect individuals that earn compensation from labor or personal services performed partly within and partly without the United States and are needed to provide appropriate guidance regarding the determination of the proper source of that compensation. This document also withdraws the notice of proposed rulemaking (REG-208254-90) published in the Federal Register on January 21, 2000 (65 FR 3401). |
| REG-116265-04(PDF, 9K) |
|
8/16/2004 |
| Additional Rules for Exchanges of Personal Property under Section 1031(a) |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing final and temporary regulations replacing the use of the Standard Industrial Classification (SIC) system with the North American Industry Classification System (NAICS) for determining what properties are of a like class for purposes of section 1031 of the Internal Revenue Code (Code). The text of those temporary regulations also serves as the text of these proposed regulations. |
| REG-131264-04(PDF, 25K) |
|
8/13/2004 |
| Consolidated Returns; Intercompany Transactions |
| This document contains proposed regulations that provide guidance regarding the treatment of manufacturer incentive payments between members of a consolidated group. The proposed regulations are necessary to provide additional guidance for a variety of transactions involving manufacturer incentive payments. The regulations will affect corporations filing consolidated returns. |
| T.D. 9152(PDF, 55K) |
|
8/13/2004 |
| Reduced Maximum Exclusion of Gain from Sale or Exchange of Principal Residence |
| This document contains final regulations relating to the exclusion of gain from the sale or exchange of a taxpayer’s principal residence. The final regulations apply to a taxpayer who has not owned and used the property as the taxpayer’s principal residence for two of the preceding five years or who has excluded gain from the sale or exchange of a principal residence within the preceding two years. |
| REG-124872-04(PDF, 18K) |
|
8/13/2004 |
| Clarification of Definitions |
| This issue of the Federal Register contains temporary regulations that provide clarification of the definitions of a corporation and a domestic entity in circumstances where the business entity is considered to be created or organized in more than one jurisdiction. These regulations will affect business entities that are created or organized under the laws of more than one jurisdiction. The text of those temporary regulations also serves as the text of these proposed regulations. This document also provides a notice of a public hearing on these proposed regulations. |
| T.D. 9151(PDF, 32K) |
|
8/13/2004 |
| Additional Rules for Exchanges of Personal Property under Section 1031(a) |
| This document contains final and temporary regulations replacing the use of the Standard Industrial Classification (SIC) system with the North American Industry Classification System (NAICS) for determining what properties are of a like class for purposes of section 1031 of the Internal Revenue Code (Code). 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 in this issue of the Federal Register. The final regulations consist of technical revisions to reflect the issuance of the temporary regulations. |
| T.D. 9150(PDF, 26K) |
|
8/13/2004 |
| Remedial actions applicable to tax-exempt bonds issued by state and local governments |
| This document contains final regulations on the exempt facility bond rules applicable to tax-exempt bonds issued by state and local governments. The regulations affect issuers of tax-exempt bonds and amend provisions in the current regulations permitting remedial actions for tax-exempt bonds issued by state and local governments. |
| REG-149524-03(PDF, 47K) |
|
8/13/2004 |
| LIFO Recapture Under Section 1363(d) |
| This document contains proposed regulations regarding LIFO recapture by corporations converting from C corporations to S corporations. The purpose of the proposed regulations is to provide guidance on the LIFO recapture requirement when the corporation holds inventory accounted for under the last-in, first-out (LIFO) method (LIFO inventory) indirectly through a partnership. The proposed regulations affect C corporations that own interests in partnerships holding LIFO inventory and that elect to be taxed as S corporations or that transfer such partnership interests to S corporations in nonrecognition transactions. The proposed regulations also affect S corporations receiving such partnership interests from C corporations in nonrecognition transactions. |
| T.D. 9153(PDF, 33K) |
|
8/13/2004 |
| Clarification of Definitions |
| This document contains temporary regulations providing clarification of the definitions of a corporation and a domestic entity in circumstances where the business entity is considered to be created or organized in more than one jurisdiction. These regulations will affect business entities that are created or organized under the laws of more than one jurisdiction. The final regulations consist of technical revisions to reflect the issuance of the temporary regulations and to correct a cross-reference in §301.7701-3. 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 in this issue of the Federal Register. |
| REG-128767-04(PDF, 42K) |
|
8/12/2004 |
| Treatment of Disregarded Entities under Section 752 |
| The proposed regulations provide rules under section 752 for taking into account certain obligations of a business entity that is disregarded as separate from its owner under sections 856(i), 1361(b)(3), or §§301.7701-1 through 301.7701-3 (disregarded entity) for purposes of characterizing and allocating partnership liabilities. The rules affect partnerships with partnership debt and partners in those partnerships. These proposed regulations clarify the existing regulations concerning when a partner may be treated as bearing the economic risk of loss for a partnership liability based upon an obligation of a disregarded entity. |
| REG-129706-04(PDF, 29K) |
|
8/10/2004 |
| Corporate Reorganizations; Guidance on the Measurement of Continuity of Interest |
| This document contains proposed regulations that provide guidance regarding the satisfaction of the continuity of interest requirement for corporate reorganizations. These proposed regulations affect corporations and their shareholders. This document also provides a notice of a public hearing on these proposed regulations. |
| T.D. 9149(PDF, 19K) |
|
8/10/2004 |
| Collected Excise Taxes; Duties of Collector |
| This document contains final and temporary regulations relating to the obligations of persons that receive payments for air transportation or communications services subject to excise tax when persons liable for tax refuse to pay the tax. These temporary regulations affect persons that receive payments subject to tax and persons liable for those taxes. The text of the temporary regulations also serves as the text of the proposed regulations (REG-163909-02) set forth in the notice of proposed rulemaking on this subject in the Proposed Rules section in this issue of the Federal Register. |
| T.D. 9148(PDF, 14K) |
|
8/10/2004 |
| Transfers of Compensatory Options |
| This document contains regulations that provide rules governing transfers of certain compensatory stock options (nonstatutory stock options). The regulations affect persons who have been granted nonstatutory stock options, as well as service recipients who may be entitled to deductions related to the options. |
| REG-129771-04(PDF, 61K) |
|
8/10/2004 |
| Guidance under section 951 for determining pro rata share. |
| This document contains proposed regulations under section 951(a) of the Internal Revenue Code (Code) that provide guidance for determining a United States shareholder’s pro rata share of a controlled foreign corporation’s (CFC’s) subpart F income, previously excluded subpart F income withdrawn from investment in less developed countries, previously excluded subpart F income withdrawn from foreign base company shipping operations, and amounts determined under section 956. |
| REG-163909-02(PDF, 17K) |
|
8/10/2004 |
| Collected Excise Taxes; Duties of Collector |
| In this issue of the Federal Register, the IRS is issuing temporary regulations relating to the obligations of persons that receive payments for air transportation or communications services subject to excise tax when persons liable for the tax refuse to pay the tax. The text of those temporary regulations also serves as the text of these proposed regulations. These proposed regulations affect persons liable for those taxes and persons that receive payments subject to tax. |
| REG-171386-03(PDF, 12K) |
|
8/5/2004 |
| Time and Manner of Making §163(d)(4)(B) Election to Treat Qualified Dividend Income as Investment Income |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations relating to an election that may be made by noncorporate taxpayers to treat qualified dividend income as investment income for purposes of calculating the deduction for investment interest. The text of those temporary regulations also serves as the text of these proposed regulations. |
| T.D. 9147(PDF, 19K) |
|
8/5/2004 |
| Time and Manner of Making §163(d)(4)(B) Election to Treat Qualified Dividend Income as Investment Income |
| This document contains temporary regulations relating to an election that may be made by noncorporate taxpayers to treat qualified dividend income as investment income for purposes of calculating the deduction for investment interest. The regulations reflect changes to the law made by the Jobs and Growth Tax Relief Reconciliation Act of 2003. The regulations affect taxpayers making the election under section 163(d)(4)(B) to treat qualified dividend income as investment income. 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 in this issue of the Federal Register. |
| T.D. 9146(PDF, 46K) |
|
8/4/2004 |
| Section 179 Elections |
| This document contains temporary regulations relating to the election to expense the cost of property subject to section 179 of the Internal Revenue Code. The regulations reflect changes to the law made by section 202 of the Jobs and Growth Tax Relief Reconciliation Act of 2003. 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 in this issue of the Federal Register. |
| REG-152549-03(PDF, 20K) |
|
8/4/2004 |
| Section 179 Elections |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations under section 179 of the Internal Revenue Code relating to the election to expense the cost of property subject to section 179. The temporary regulations reflect changes to the law made by the Jobs and Growth Tax Relief Reconciliation Act of 2003. 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. |
| T.D. 9145(PDF, 25K) |
|
8/4/2004 |
| Entry of Taxable Fuel |
| This document contains final and temporary regulations relating to the tax on the entry of taxable fuel into the United States. These regulations affect enterers of taxable fuel, other importers of record, and certain sureties. The text of the temporary regulations also serves as the text of the proposed regulations (REG-120616-03) set forth in the notice of proposed rulemaking on this subject in the Proposed Rules section in this issue of the Federal Register. |
| T.D. 9144(PDF, 203K) |
|
8/4/2004 |
| Statutory Options |
| This document contains final regulations relating to statutory options. These final regulations affect certain taxpayers who participate in the transfer of stock pursuant to the exercise of incentive stock options and the exercise of options granted pursuant to an employee stock purchase plan (statutory options). These regulations provide guidance to assist these taxpayers in complying with the law in addition to clarifying rules regarding statutory options. |
| T.D. 9139(PDF, 19K) |
|
8/4/2004 |
| Deemed Election To Be an Association Taxable as a Corporation for a Qualified Electing S Corporation |
| This document contains a temporary regulation that deems certain eligible entities that file timely S corporation elections to have elected to be classified as associations taxable as corporations. This regulation affects certain eligible entities filing timely elections to be S corporations on or after July 20, 2004. The text of this temporary regulation also serves as the text of the proposed regulations set forth in a notice of proposed rulemaking (REG-131786-03) on this subject published elsewhere in this issue of the Federal Register. |
| REG-120616-03(PDF, 19K) |
|
8/3/2004 |
| Entry of Taxable Fuel |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations relating to the tax on the entry of taxable fuel into the United States. The text of those regulations also serves as the text of these proposed regulations. The regulations affect enterers of taxable fuel, certain other importers, and certain sureties. |
| REG-208246-90(PDF, 24K) |
|
7/28/2004 |
| Allocation and Apportionment of Deductions for Charitable Contributions |
| This document withdraws the notice of proposed rulemaking published on March 12, 1991 (the 1991 proposed regulations), relating to the allocation and apportionment of charitable deductions. In addition, in the Rules and Regulations section of this issue of the Federal Register, the Treasury Department and the IRS are issuing temporary regulations providing that the deduction for a charitable contribution (as defined in section 170(c)) is to be allocated to all of the taxpayer’s gross income and apportioned on the basis of income from sources within the United States. |
| T.D. 9143(PDF, 28K) |
|
7/28/2004 |
| Allocation and Apportionment of Deductions for Charitable Contributions |
| This document contains temporary regulations relating to the allocation and apportionment of the deduction for charitable contributions allowed by sections 170, 873(b)(2), and 882(c)(1)(B). These regulations change the method of allocating and apportioning these deductions from ratable apportionment on the basis of gross income to apportionment on the basis of income from sources within the United States. The temporary regulations will affect individuals and corporations that make contributions to charitable organizations and that have foreign source income and calculate their foreign tax credit limitations under section 904. The text of the temporary regulations also serves as the text of the proposed regulations set forth in the Proposed Rules section in this issue of the Federal Register. |
| REG-163679-02(PDF, 45K) |
|
7/26/2004 |
| Qualified Interests |
| These proposed regulations amend the regulations under the gift tax special valuation rules to provide that a unitrust amount or annuity payable for a specified term of years to the grantor, or to the grantor’s estate if the grantor dies prior to the expiration of the term, is a qualified interest for the specified term. The proposed regulations also clarify that the exception treating a spouse’s revocable successor interest as a retained qualified interest applies only if the spouse’s annuity or unitrust interest, standing alone, would constitute a qualified interest that meets the requirements of §25.2702-3(d)(3), but for the grantor’s revocation power. This document also provides a notice of a public hearing on these proposed regulations. |
| T.D. 9142(PDF, 86K) |
|
7/22/2004 |
| Deemed IRAs in Qualified Retirement Plans |
| This document contains final regulations providing guidance under section 408(q) regarding accounts or annuities that are part of qualified employer plans but are to be treated as individual retirement plans. These regulations reflect changes made to the law by the Economic Growth and Tax Relief Reconciliation Act of 2001 and by the Job Creation and Worker Assistance Act of 2002. This document also contains temporary regulations under section 408(a) providing a special rule for governmental units seeking approval to serve as nonbank trustees of individual retirement accounts for purposes of section 408(q). These regulations affect administrators of, participants in, and beneficiaries of qualified employer plans. |
| REG-101447-04(PDF, 16K) |
|
7/21/2004 |
| Deemed IRAs in Governmental Plans/Qualified Nonbank Trustee Rules. |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations relating to qualification of governmental units as qualified nonbank trustees for deemed IRAs under section 408(q). The text of those regulations also serves as the text of these proposed regulations. |
| REG-124405-03(PDF, 37K) |
|
7/20/2004 |
| Optional 10-Year Writeoff of Certain Tax Preferences |
| This document contains proposed regulations relating to the optional 10-year writeoff of certain tax preference items under section 59(e) of the Internal Revenue Code (Code). These proposed regulations provide guidance on the time and manner of making an election under section 59(e). The regulations also provide guidance on revoking an election under section 59(e). The regulations reflect changes to the law made by the Tax Reform Act of 1986, the Technical and Miscellaneous Revenue Act of 1988, and the Omnibus Budget Reconciliation Act of 1989. |
| T.D. 9140(PDF, 21K) |
|
7/20/2004 |
| Transfers to Provide for Satisfaction of Contested Liabilities |
| This document contains final regulations relating to transfers of money or other property to provide for the satisfaction of contested liabilities. The regulations affect taxpayers that are contesting an asserted liability and that transfer their own stock or indebtedness, the stock or indebtedness of a related party, or a promise to provide services or property in the future, to provide for the satisfaction of the liability prior to the resolution of the contest. The regulations also affect taxpayers that transfer money or other property to a trust, an escrow account, or a court to provide for the satisfaction of a liability for which payment is economic performance. |
| T.D. 9141(PDF, 132K) |
|
7/20/2004 |
| Application of Section 904 to Income Subject to Separate Limitations |
| This document contains final Income Tax Regulations relating to the section 904(d) foreign tax credit limitation and to the exclusion of certain export financing interest from foreign personal holding company income. Changes to the applicable law were made by the Tax Reform Act of 1986, the Technical and Miscellaneous Revenue Act of 1988, the Taxpayer Relief Act of 1997, and the Jobs and Growth Tax Relief Reconciliation Act of 2003. These regulations provide guidance needed to comply with these changes and affect individuals and corporations claiming foreign tax credits and reporting subpart F income. |
| T.D. 9137(PDF, 93K) |
|
7/16/2004 |
| Partnership Transactions Involving Long-Term Contracts |
| This document contains final regulations relating to partnership transactions involving contracts accounted for under a long-term contract method of accounting. The regulations are necessary to resolve issues that were reserved in final regulations under |
| T.D. 9138(PDF, 18K) |
|
7/16/2004 |
| Transitional Rule for Vested Accrued Vacation Pay |
| This document removes a temporary regulation that provides a rule for an election to deduct vested accrued vacation pay for the first taxable year ending after July 18, 1984. The repeal of the underlying code section in 1987 has rendered the temporary regulation obsolete. The removal of this regulation will not affect taxpayers. |
| REG-150562-03(PDF, 84K) |
|
7/15/2004 |
| Section 1045 Application to Partnerships |
| This document contains proposed regulations relating to the application of section 1045 of the Internal Revenue Code (Code) to partnerships and their partners. These regulations provide rules regarding the deferral of gain on a partnership’s sale of qual |
| T.D. 9136(PDF, 56K) |
|
7/13/2004 |
| Information Reporting and Backup Withholding for Payment Card Transactions |
| This document contains final regulations relating to the information reporting requirements, information reporting penalties, and backup withholding requirements for payment card transactions. This document also contains final regulations relating to the |
| REG-153841-02(PDF, 47K) |
|
7/13/2004 |
| Election Out of GST Deemed Allocations |
| These proposed regulations provide guidance for making the election under section 2632(c)(5)(A)(i) of the Internal Revenue Code to not have the deemed allocation of unused generation-skipping transfer (GST) tax exemption under section 2632(c)(1) apply wi |
| REG-137076-02(PDF, 19K) |
|
7/8/2004 |
| Excise Taxes; Communications Services |
| This document requests information from the public on issues that the IRS may address in proposed regulations relating to the tax on amounts paid for communications services. All materials submitted will be available for public inspection and copying. |
| T.D. 9135(PDF, 20K) |
|
7/8/2004 |
| Rents and Royalties |
| This document contains final regulations relating to the inclusion in gross income of advance rentals. The regulations authorize the Commissioner to provide rules allowing for the inclusion of advance rentals in gross income in a year other than the year of receipt. The regulations will affect taxpayers that receive advance payments for the use of certain items (such as intellectual property and computer software) to be designated by the Commissioner. |
| T.D. 9134(PDF, 36K) |
|
7/8/2004 |
| Excise Tax Relating to Structured Settlement Factoring Transactions |
| This document contains final regulations relating to the manner and method of reporting and paying the nondeductible 40 percent excise tax imposed on any person who acquires structured settlement payment rights in a structured settlement factoring transaction. The regulations provide the guidance necessary to comply with the reporting requirements of the excise tax. |
| T.D. 9133(PDF, 34K) |
|
6/25/2004 |
| Depreciation of Vans and Light Trucks |
| This document contains regulations relating to the definition of passenger automobile for purposes of the dollar limits on depreciation deductions for passenger automobiles. These regulations affect certain taxpayers that use vans and light trucks in the |
| REG-117307-04(PDF, 27K) |
|
6/25/2004 |
| Stock Held by Foreign Insurance Companies |
| This document contains a proposed regulation relating to the determination of income of foreign insurance companies that is effectively connected with the conduct of a trade or business within the United States. The regulation provides that the exception |
| REG-131486-03(PDF, 36K) |
|
6/25/2004 |
| Adjustment to Net Unrealized Built-in Gain |
| This document contains proposed regulations under section 1374 that provide for an adjustment to the amount that may be subject to tax under section 1374 in certain cases in which an S corporation acquires assets from a C corporation in a n acquisition to which section 1374(d)(8) applies. These proposed regulations provide guidance to certain S corporations that acquire assets from a C corporation in a carryover basis transaction. |
| T.D. 9132(PDF, 79K) |
|
6/17/2004 |
| Changes in Use under Section 168(i)(5) |
| This document contains final and temporary regulations relating to the depreciation of property subject to section 168 of the Internal Revenue Code (MACRS property). Specifically, these regulations provide guidance on how to depreciate MACRS property for which the use changes in the hands of the same taxpayer. The regulations reflect changes to the law made by the Tax Reform Act of 1986. |
| T.D. 9131(PDF, 31K) |
|
6/16/2004 |
| Administrative Simplification of Section 481(a) Adjustment Periods in Various Regulations |
| This document contains amendments to regulations under sections 263A and 448 of the Internal Revenue Code. The amendments apply to taxpayers changing a method of accounting under the regulations and are necessary to conform the rules governing those chan |
| T.D. 9130(PDF, 114K) |
|
6/15/2004 |
| Required Distributions from Retirement Plans |
| This document contains final regulations concerning required minimum distributions under section 401(a)(9) for defined benefit plans and annuity contracts providing benefits under qualified plans, individual retirement plans, and section 403(b) contracts. This document also contains a change to the separate account rules in the final regulations concerning required minimum distributions for defined contribution plans. These final regulations provide the public with guidance necessary to comply with the law and will affect administrators of, participants in, and beneficiaries of qualifi ed plans; institutions that sponsor and administer individual retirement plans, individuals who use individual retirement plans for retirement income, and bene ficiaries of individual retirement plans; and employees for whom amounts are contributed to section 403(b) annuity contracts, custodial accounts, or retirement income accounts and beneficiaries of such contracts and accounts. |
| T.D. 9129(PDF, 23K) |
|
5/21/2004 |
| Uniform Capitalization of Interest Expense in Safe Harbor Sale and Leaseback Transactions |
| This document contains regulations relating to the capitalization of interest expense incurred in sale and leaseback transactions under the Economic Recovery Tax Act of 1981 (ERTA) safe harbor leasing provisions. The regulations affect taxpayers that provide purchase money obligations in connection with these transactions. 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 in this issue of the Federal Register. The final regulations consist of technical revisions to reflect the issuance of the temporary regulations. |
| REG-148399-02(PDF, 16K) |
|
5/21/2004 |
| Uniform Capitalization of Interest Expense in Safe Harbor Sale and Leaseback Transactions |
| Notice of proposed rulemaking by cross-reference to temporary regulations. SUMMARY: In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing final and temporary regulations relating to the capitalization of interest expense in sale and leaseback transactions under the Economic Recovery Tax Act of 1981 (ERTA) safe harbor leasing provisions. The regulations affect taxpayers that provide purchase money obligations in connection with these transactions. The text of those regulations also serves as the text of these proposed regulations. |
| REG-128572-03(PDF, 22K) |
|
5/13/2004 |
| Application of sections 265(a)(2) and 246A in Multi-Party Financing Arrangements; Request for Comments |
| The IRS and Treasury Department are soliciting comments and suggestions regarding the scope and details of regulations that may be proposed under section 7701(f) of the Internal Revenue Code to address the application of sections 265(a)(2) and 246A in transactions involving related parties, pass-through entities, or other intermediaries. |
| T.D. 9127(PDF, 21K) |
|
5/12/2004 |
| Reduction of Tax Attributes Due to Discharge of Indebtedness |
| This document contains final regulations regarding the reduction of tax attributes under sections 108 and 1017 of the Internal Revenue Code. These final regulations affect taxpayers that realize income from the discharge of indebtedness that is excluded from gross income pursuant to section 108. |
| T.D. 9128(PDF, 22K) |
|
5/12/2004 |
| Real Estate Mortgage Investment Conduits; Application of Section 446 With Respect to Inducement Fees |
| This document contains final regulations relating to the proper timing and source of income from fees received to induce taxpayers to become the holders of noneconomic residual interests in Real Estate Mortgage Investment Conduits (REMICs). |
| T.D. 9125(PDF, 95K) |
|
5/8/2004 |
| Deduction for Interest on Qualified Education Loans |
| This document contains final regulations relating to the deduction under section 221 of the Internal Revenue Code (Code) for interest paid on qualified education loans. The final regulations reflect the enactment and amendment of section 221 by the Taxpayer Relief Act of 1997, the Internal Revenue Service Restructuring and Reform Act of 1998, the Omnibus Consolidated and Emergency Supplemental Appropriations Act of 1999, and the Economic Growth and Tax Relief Reconciliation Act of 2001. |
| REG-128590-03(PDF, 30K) |
|
5/8/2004 |
| Special Consolidated Return Rules for the Disallowance of Interest Expense Deductions under Section 265(a)(2) |
| This document contains proposed regulations under section 265(a)(2) that affect corporations filing consolidated returns. These regulations provide special rules for the treatment of certain intercompany transactions involving interest on intercompany obligations. |
| T.D. 9126(PDF, 15K) |
|
5/7/2004 |
| Section 704(b) and Capital Account Revaluations |
| This document contains final regulations relating to the capital account maintenance rules under section 704 of the Internal Revenue Code. These regulations expand the rules regarding a partnership=s right to adjust capital accounts to reflect unrealized appreciation and depreciation in the value of partnership assets. |
| REG-116564-03(PDF, 43K) |
|
5/4/2004 |
| Determination of Basis of Stock or Securities Received In Exchange For, or With Respect to, Stock or Securities in Certain Transactions |
| This document contains proposed regulations under section 358 that provide guidance regarding the determination of the basis of stock or securities received in exchange for, or with respect to, stock or securities in certain transactions. These proposed regulations affect shareholders of corporations. |
| T.D. 9124(PDF, 28K) |
|
5/4/2004 |
| At-Risk Limitations; Interest Other Than That of a Creditor |
| These regulations finalize the rules relating to the treatment, for purposes of the at-risk limitations, of amounts borrowed from a person who has an interest in an activity other than that of a creditor or from a person related to a person (other than the borrower) with such an interest. These regulations affect taxpayers subject to the at-risk limitations and provide them with guidance necessary to comply with the law. |
| T.D. 9123(PDF, 78K) |
|
5/4/2004 |
| Electing Mark to Market for Marketable Stock |
| This document contains final regulations that provide procedures for certain United States persons holding marketable stock in a passive foreign investment company (PFIC) to elect mark to market treatment for that stock under section 1296 of the Internal Revenue Code and related provisions of sections 1291 and 1295. These final regulations affect United States persons owning marketable stock in a PFIC. |
| T.D. 9122(PDF, 27K) |
|
4/29/2004 |
| Guidance under Section 1502; Stock Basis after a Group Structure Change |
| This document contains final regulations under section 1502 providing guidance regarding the determination of basis in the stock of the former common parent following a group structure change. These final regulations affect corporations filing consolidated returns. |
| T.D. 9121(PDF, 38K) |
|
4/21/2004 |
| Partner’s Distributive Share: Foreign Tax Expenditures |
| The temporary regulations provide rules for the proper allocation of partnership expenditures for foreign taxes. The temporary regulations affect partnerships and their partners. 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. The final regulations consist of technical revisions to reflect the issuance of the temporary regulations. |
| REG-139792-02(PDF, 14K) |
|
4/21/2004 |
| Notice of proposed rule making by cross-reference to temporary regulations and notice of public hearing. |
| This document contains proposed regulations relating to the proper allocation of partnership expenditures for foreign taxes. The proposed regulations affect partnerships and their partners. In the rules and regulations portion of this issue of the Federal Register, the IRS is issuing temporary regulations that modify the rules relating to the proper allocation of creditable foreign taxes. The text of the temporary regulations also serves as the text of these proposed regulations. This document also contains a notice of public hearing on these proposed regulations. |
| REG-115795-97(PDF, 20K) |
|
4/5/2004 |
| General Rules for Making & Maintaining Qualified Electing Fund Elections |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing 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 electingfund (QEF). The temporary regulations also provide guidance for shareholders that wish to make a section 1295 election that will apply on a retroactive basis (retroactive election). The temporary regulations also include a rule concerning the taxation under section 1291 of an exempt organization that is a shareholder of a PFIC that is not a pedigreed QEF. |
| REG-106681-02(PDF, 29K) |
|
3/31/2004 |
| Modification Of Check The Box |
| This document contains proposed regulations that clarify that qualified REIT subsidiaries, qualified subchapter S subsidiaries, and single owner eligible entities that are disregarded as entities separate from their owners are treated as separate entities for purposes of any Federal tax liability for which the entity is liable. This document also provides notice of a public hearing. |
| REG-106590-00(PDF, 26K) |
|
3/31/2004 |
| Depreciation of MACRS Property That is Acquired in a Like-kind Exchange or as a Result of an Involuntary Conversion |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations relating to the depreciation of property subject to section 168 of the Internal Revenue Code (MACRS property). Specifically, the temporary regulations provide guidance on how to depreciate MACRS property acquired in a like-kind exchange under section 1031 or as a result of an involuntary conversion under section 1033 when both the acquired and relinquished property are subject to MACRS in the hands of the acquiring taxpayer. |
| REG-129447-01(PDF, 19K) |
|
3/30/2004 |
| Allocation and Apportionment of Expenses; Alternative Method for Determining Tax Book Value of Assets |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations providing an alternative method of valuing assets for purposes of apportioning expenses under the tax book value method of §1.861-9T. The alternative tax book value method, which is elective, allows taxpayers to determine, for purposes of apportioning expenses, the tax book value of all tangible property that is subject to a depreciation deduction under section 168 by using the straight line method, conventions, and recovery periods of the alternative depreciation system under section 168(g)(2). |
| REG-121475-03(PDF, 50K) |
|
3/30/2004 |
| Qualified Zone Academy Bonds; Obligations of States and Political Subdivisions |
| This document contains proposed regulations that amend the final regulations on qualified zone academy bonds. These regulations provide guidance to State and local governments that issue qualified zone academy bonds and to banks, insurance companies, and other taxpayers that hold those bonds. These regulations provide guidance on the maximum term, permissible use of proceeds, and remedial actions for qualified zone academy bonds. This document also provides notice of a public hearing on these proposed regulations. |
| T.D. 9120(PDF, 39K) |
|
3/30/2004 |
| Allocation and Apportionment of Expenses; Alternative Method for Determining Tax Book Value of Assets |
| This document contains temporary regulations providing an alternative method of valuing assets for purposes of apportioning expenses under the tax book value method of §1.861-9T. The alternative tax book value method, which is elective, allows taxpayers to determine, for purposes of apportioning expenses, the tax book value of all tangible property that is subject to a depreciation deduction under section 168 by using the straight line method, conventions, and recovery periods of the alternative depreciation system under section 168(g)(2). |
| T.D. 9119(PDF, 22K) |
|
3/25/2004 |
| Tax Return Preparers - Electronic Filing |
| This document provides final regulations to facilitate electronic filing of returns prepared by tax return preparers. They provide that preparers may avoid paper copies by retaining and furnishing to taxpayers copies of returns in an electronic or digital format prescribed by the Commissioner. |
| REG-128309-03(PDF, 153K) |
|
3/24/2004 |
| Section 411(d)(6) Protected Benefits |
| This document contains proposed regulations providing guidance on the conditions under which a plan amendment may eliminate or reduce an early retirement benefit, a retirement-type subsidy, or an optional form of benefit (section 411(d)(6)(B) protected benefits) with respect to a participant’s benefits attributable to service before the amendment. The proposed regulations would also provide guidance concerning how the notice requirements of section 4980F apply with respect to such plan amendments. These proposed regulations would generally affect plan sponsors of, and participants in, qualified retirement plans. This document also provides notice of a public hearing on these proposed regulations. |
| REG-153172-03(PDF, 18K) |
|
3/18/2004 |
| Loss Limitation Rules |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations under sections 337(d) and 1502 of the Internal Revenue Code relating to the deductibility of losses recognized on dispositions of subsidiary stock by members of a consolidated group, the consequences of treating subsidiary stock as worthless, and when stock of a member of a consolidated group may be treated as worthless. The temporary regulations apply to corporations filing consolidated returns. The text of the temporary regulations published in this issue of the Federal Register also serves as the text of these proposed regulations. |
| T.D. 9118(PDF, 31K) |
|
3/18/2004 |
| Loss Limitation Rules |
| This document contains amendments relating to certain aspects of the temporary regulations addressing the deductibility of losses recognized on dispositions of subsidiary stock by members of a consolidated group and to the consequences of treating subsidiary stock as worthless. In addition, this document contains temporary regulations that clarify when stock of a member of a consolidated group may be treated as worthless. These regulations apply to corporations filing consolidated returns. 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 in this issue of the Federal Register. |
| REG-149752-03(PDF, 27K) |
|
3/16/2004 |
| Exclusion of Employees of 501(c)(3) Organizations in 401(k) and 401(m) Plans |
| This document contains proposed amendments to the regulations under section 410(b) of the Internal Revenue Code. The proposed amendments permit, in certain circumstances, employees of a tax-exempt organization described in section 501(c)(3) to be excluded for the purpose of testing whether a section 401(k) plan (or a section 401(m) plan that is provided under the same general arrangement as the section 401(k) plan of the employer) meets the requirements for minimum coverage specified in section 410(b). These regulations will affect tax-exempt employers described in section 501(c)(3), retirement plans sponsored by these employers, and participants in these plans. |
| REG-167265-03(PDF, 67K) |
|
3/15/2004 |
| Guidance Under Section 1502; Application of Section 108 to Members of a Consolidated Group; Computation of Taxable Income When Section 108 Applies to a Member of a Consolidated Group |
| This document contains proposed regulations under section 1502 that govern the timing of certain basis adjustments in respect of the realization of discharge of indebtedness income that is excluded from gross income and the reduction of attributes in respect of that excluded income. In addition, the text of the temporary regulations published elsewhere in the Rules and Regulations section of this issue of the Federal Register serves as the text of these proposed regulations with respect to the application of section 108 when a member of a consolidated group realizes discharge of indebtedness income. The proposed regulations affect corporations filing consolidated returns. |
| T.D. 9117(PDF, 30K) |
|
3/15/2004 |
| Guidance Under Section 1502; Application of Section 108 to Members of a Consolidated Group |
| This document contains temporary regulations under section 1502 that govern the application of section 108 when a member of a consolidated group realizes discharge of indebtedness income. These regulations affect corporations filing consolidated returns. |
| T.D. 9116(PDF, 54K) |
|
3/11/2004 |
| New Markets Tax Credit Amendments |
| This document contains amendments to temporary regulations for the new markets tax credit under section 45D. The regulations revise and clarify certain aspects of those regulations and affect a taxpayer making a qualified equity investment in a qualified community development entity that has received a new markets tax credit allocation. 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 in this issue of the Federal Register. |
| REG-115471-03(PDF, 15K) |
|
3/11/2004 |
| New Markets Tax Credit Amendments |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing revised temporary regulations relating to the new markets tax credit. The text of those regulations also serves as the text of these proposed regulations. This document also provides notice of a public hearing on these proposed regulations. |
| REG-165579-02(PDF, 39K) |
|
3/2/2004 |
| Corporate Reorganizations; Transfers of Assets or Stock Following a Reorganization |
| This document contains proposed regulations that provide guidance relating to the effect of certain asset and stock transfers on the qualification of certain transactions as reorganizations under section 368(a). This document also contains proposed regulations that provide guidance relating to the continuity of business enterprise requirement and the definition of a party to a reorganization. These regulations affect corporations and their shareholders. |
| T.D. 9115(PDF, 164K) |
|
3/1/2004 |
| Depreciation of MACRS Property That is Acquired in a Like-kind Exchange or As a Result of an Involuntary Conversion |
| This document contains regulations relating to the depreciation of property subject to section 168 of the Internal Revenue Code (MACRS property). Specifically, these temporary regulations provide guidance on how to depreciate MACRS property acquired in a like-kind exchange under section 1031 or as a result of an involuntary conversion under section 1033 when both the acquired and relinquished property are subject to MACRS in the hands of the acquiring taxpayer. These temporary regulations will affect taxpayers involved in a like-kind exchange under section 1031 or an involuntary conversion under section 1033. 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 in this issue of the Federal Register. |
| REG-106590-00(PDF, 29K) |
|
3/1/2004 |
| Depreciation of MACRS Property That is Acquired in a Like-kind Exchange or As a Result of an Involuntary Conversion |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations relating to the depreciation of property subject to section 168 of the Internal Revenue Code (MACRS property). Specifically, the temporary regulations provide guidance on how to depreciate MACRS property acquired in a like-kind exchange under section 1031 or as a result of an involuntary conversion under section 1033 when both the acquired and relinquished property are subject to MACRS in the hands of the acquiring taxpayer. The text of those temporary regulations also serves as the text of these proposed regulations. |
| REG-166012-02(PDF, 134K) |
|
2/26/2004 |
| Notional Principal Contracts; Contingent Nonperiodic Payments |
| This document contains proposed regulations relating to the inclusion into income or deduction of a contingent nonperiodic payment provided for under a notional principal contract (NPC). This document also provides guidance relating to the character of payments made pursuant to an NPC. These regulations will affect taxpayers that enter into NPCs. This document also provides a notice of a public hearing on these proposed regulations. |
| REG-156421-03(PDF, 97K) |
|
2/25/2004 |
| Student FICA Exception |
| This document contains proposed regulations that provide guidance regarding the meaning of “school, college, or university” and “student” for purposes of the student FICA exception under sections 3121(b)(10) and 3306(c)(10)(B) of the Internal Revenue Code (Code). In addition, this document contains proposed regulations that provide guidance on the meaning of “school, college, or university” for purposes of the FICA exception under section 3121(b)(2) for domestic service performed in a local college club, or local chapter of a college fraternity or sorority by a student. This document also provides a notice of public hearing on these proposed regulations. |
| T.D. 9114(PDF, 86K) |
|
2/18/2004 |
| Electronic Payee Statements |
| This document contains final regulations relating to the voluntary electronic furnishing of statements on Forms W-2, Wage and Tax Statement, under sections 6041 and 6051, and statements on Forms 1098-T, Tuition Statement, and Forms 1098-E, Student Loan Interest Statement, under section 6050S. These final regulations affect businesses, other for-profit institutions, and eligible educational institutions that wish to furnish these required statements electronically. The regulations will also affect individuals (recipients), principally employees, students, and borrowers, who consent to receive these statements electronically. |
| T.D. 9101(PDF, 55K) |
|
2/17/2004 |
| Information Reporting Relating to Taxable Stock Transactions |
| This document contains temporary regulations requiring information reporting by a corporation if control of the corporation is acquired or if the corporation has a recapitalization or other substantial change in capital structure. This document also contains temporary regulations concerning information reporting requirements for brokers with respect to transactions described in section 6043(c). The text of these temporary regulations also serves as the text of proposed regulations set forth in the Proposed Rules section of this issue of the Federal Register. |
| REG-126967-03(PDF, 53K) |
|
2/17/2004 |
| Value of Life Insurance Contracts when Distributed from a Qualified Retirement Plan |
| This document contains proposed amendments to the regulations under section 402(a) of the Internal Revenue Code regarding the amount includible in a distributee’s income when life insurance contracts are distributed by a qualified retirement plan and the treatment of property sold by a qualified retirement plan to a plan participant or beneficiary for less than fair market value. This document also contains proposed amendments to the regulations under sections 79 and 83 conforming the language in those regulations to the language in the proposed amendments to the section 402(a) regulations . These regulations will affect administrators of, participants in, and beneficiaries of qualified employer plans. These regulations also provide guidance to employers who provide group -term life insurance to their employees that is includible in the gross income of the employees and to employers who transfer life insurance contracts to persons in connection with the performance of services. This document also provides notice of a public hearing on these proposed regulations. |
| REG-156232-03(PDF, 28K) |
|
2/13/2004 |
| Information Reporting Relating to Taxable Stock Transactions |
| This document withdraws proposed regulations published in the Federal Register on November 18, 2002 (REG-143321-02). In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations relating to information reporting relating to taxable stock transactions. This document contains proposed regulations under section 6043(c) requiring information reporting by a corporation if control of the corporation is acquired or if the corporation has a recapitalization or other substantial change in capital structure. This document also contains proposed regulations under section 6045 concerning information reporting requirements for brokers with respect to transactions described in section 6043(c). The text of the temporary regulations serves as the text of these proposed regulations. This document also provides notice of a public hearing on these proposed regulations. |
| T.D. 9113(PDF, 21K) |
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2/9/2004 |
| Electronic Filing of Duplicate Forms 5472 |
| This document contains final and temporary regulations providing that a Form 5472 that is timely filed electronically is treated as satisfying the requirement timely to file a duplicate Form 5472 with the Internal Revenue Service Center in Philadelphia, Pennsylvania. This action is necessary to clarify how the duplicate filing requirements for Form 5472 apply when a reporting corporation electronically files its income tax return (including any attachments such as Form 5472). This document affects corporations subject to the reporting requirements in sections 6038A and 6038C that file Form 5472 electronically. The text of the temporary regulations also serves as the text of the proposed regulations set forth in the Proposed Rules section in this issue of the Federal Register. |
| REG-167217-03(PDF, 20K) |
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2/9/2004 |
| Electronic Filing of Duplicate Forms 5472 |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations providing that a Form 5472 that is timely filed electronically is treated as satisfying the requirement timely to file a duplicate Form 5472 with the Internal Revenue Service Center in Philadelphia, Pennsylvania. This action is necessary to clarify how the duplicate filing requirements for Form 5472 apply when a reporting corporation electronically files its income tax return (including any attachments such as Form 5472). This document affects corporations subject to the reporting requirements in sections 6038A and 6038C that file Form 5472 electronically. 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-160330-02(PDF, 29K) |
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2/6/2004 |
| Section 704(c), Installment Obligations and Contributed Contracts |
| This document contains proposed regulations relating to the tax treatment of installment obligations and property acquired pursuant to a contract under sections 704(c) and 737. The proposed regulations affect partners and partnerships and provide guidance necessary to comply with the law. |
| T.D. 9105(PDF, 81K) |
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2/4/2004 |
| Changes in Computing Depreciation |
| This document contains regulations relating to a change in computing depreciation or amortization as well as a change from a nondepreciable or nonamortizable asset to a depreciable or amortizable asset (or vice versa). Specifically, these regulations provide guidance to any taxpayer that makes a change in depreciation or amortization on whether such change is a change in method of accounting under section 446(e) of the Internal Revenue Code and on the application of section 1016(a)(2) in determining whether the change is a change in method of accounting. 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 in this issue of the Federal Register. |
| REG-116664-01(PDF, 40K) |
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2/3/2004 |
| Guidance Necessary to Facilitate Business Electronic Filing |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations designed to eliminate regulatory impediments to the electronic filing of certain business income tax returns and other forms. Those regulations affect business taxpayers who file income tax returns electronically. The text of those regulations also serves as the text of these proposed regulations. |
| T.D. 9112(PDF, 20K) |
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1/27/2004 |
| Low-Income Housing Credit Allocation Certification; Electronic Filing |
| This document contains regulations that facilitate the electronic filing of Form 8609, "Low-Income Housing Credit Allocation Certification." The regulations affect taxpayers who file Form 8609. |
| T.D. 9048(PDF, 123K) |
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1/13/2004 |
| Guidance Under Section 1502; Suspension of Losses on Certain Stock Dispositions |
| This document contains final and temporary regulations under section 1502 that redetermine the basis of stock of a subsidiary member of a consolidated group immediately prior to certain transfers of such stock and certain deconsolidations of a subsidiary member. In addition, this document contains temporary regulations that suspend certain losses recognized on the disposition of stock of a subsidiary member. The regulations apply to corporations filing consolidated returns. The text of the temporary regulations serves as the text of the proposed regulations set forth in the Proposed Rules section of this issue of the Federal Register. |
| T.D. 9111(PDF, 15K) |
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1/6/2004 |
| Definition of Agent for Certain Purposes |
| This document contains final regulations relating to the definition of agent for certain purposes. The final regulations clarify that the term agent in certain provisions of section 6103 of the Internal Revenue Code (Code) includes contractors. |
| T.D. 9110(PDF, 55K) |
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1/6/2004 |
| Section 42 Carryover and Stacking Rule Amendments |
| This document contains final regulations that amend several existing regulations concerning the low-income housing tax credit. The regulations primarily reflect changes to the law made by the Community Renewal Tax Relief Act of 2000 and affect owners of low-income housing projects who claim the credit and the State or local housing credit agencies who administer the credit. |
| T.D. 9107(PDF, 273K) |
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1/5/2004 |
| Guidance Regarding Deduction and Capitalization of Expenditures |
| This document contains final regulations that explain how section 263(a) of the Internal Revenue Code (Code) applies to amounts paid to acquire or create intangibles. This document also contains final regulations under section 167 of the Code that provide safe harbor amortization for certain intangibles, and final regulations under section 446 of the Code that explain the manner in which taxpayers may deduct debt issuance costs. |
| REG-126459-03(PDF, 24K) |
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1/2/2004 |
| Changes in Computing Depreciation |
| In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations under sections 446(e) and 1016(a)(2) of the Internal Revenue Code relating to a change in computing depreciation or amortization as well as a change from a nondepreciable or nonamortizable asset to a depreciable or amortizable asset (or vice versa). 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. |
| T.D. 9104(PDF, 68K) |
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1/2/2004 |
| Credit for Increasing Research Activities |
| This document contains final regulations relating to the definition of qualified research under section 41(d) for the credit for increasing research activities. These final regulations reflect changes to section 41(d) made by the Tax Reform Act of 1986. |
| T.D. 9102(PDF, 90K) |
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1/2/2004 |
| Definition of Income for Trust Purposes |
| This document contains final regulations revising the definition of income under section 643(b) of the Internal Revenue Code. The regulations are necessary to reflect changes in the definition of trust accounting income under state laws. The final regulations also clarify the situations in which capital gains are included in distributable net income under section 643(a)(3). Conforming amendments are made to regulations affecting ordinary trusts, pooled income funds, charitable remainder trusts, trusts that qualify for the gift and estate tax marital deduction, and trusts that are exempt from generation-skipping transfer taxes. The regulations affect the grantors, beneficiaries, and fiduciaries of trusts. |
| REG-153656-03(PDF, 43K) |
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1/2/2004 |
| Credit for Increasing Research Activities |
| This document invites comments from the public regarding certain rules and standards relating to internal-use software under section 41(d)(4)(E) of the Internal Revenue Code. All materials submitted will be available for public inspection and copying. This document also addresses the effective date for final rules relating to internal-use software. |
