2002 Notices
A "Notice" is a public pronouncement that may contain guidance that involves substantive interpretations of the Code or other provisions of law. Notices may also be used for documents that would be appropriate for an "Announcement", but for the need to preserve the guidance in the Cumulative Bulletin, published twice a year. For example, "notices" can be used to relate what regulations will say in situations where the regulations may not be published in the immediate future. All notices published in the weekly IRB are also published in the Cumulative Bulletin.
Under Revenue Ruling 90-91, "for purposes of applying the substantial understatement portion of the accuracy-related penalty, ...all notices and announcements issued by the Service and published in the Internal Revenue Bulletin are considered authority and may be relied upon to the same extent as a revenue ruling or revenue procedure."
Notices are in the Adobe Acrobat PDF format.
Internal Revenue Bulletin Summary pages are in HTML format.
| Notices |
Bulletin |
Date of IRB |
 |
| Notice 2002-80(PDF, 16K) |
IRB #2002-51(HTML) |
Dec. 23, 2002 |
| Weighted average interest rate update. The weighted average interest rate for December 2002 and the resulting permissible range of interest rates used to calculate current liability for purposes of the full funding limitation of section 412(c)(7) of the Code are set forth. |
| Notice 2002-79(PDF, 44K) |
IRB #2002-50(HTML) |
Dec. 16, 2002 |
| Gross income; advance payments. This notice proposes a revenue procedure that, if finalized, will modify and supersede Rev. Proc. 71-21, 1971-2 C.B. 549, and allow taxpayers using an accrual method of accounting to defer the inclusion of advance payments in gross income for federal income tax purposes in certain limited situations. |
| Notice 2002-78(PDF, 17K) |
IRB #2002-48(HTML) |
Dec. 2, 2002 |
| This notice provides tables that show the amount of an individual's income that is exempt from a notice of levy used to collect delinquent tax in 2003. |
| Notice 2002-77(PDF, 41K) |
IRB #2002-52(HTML) |
Dec. 30, 2002 |
| The Service and the Department of Treasury announce their intention to amend section 1.367(a)-3(d) of the regulations to provide specifically that a U.S. person's exchange of stock or securities of a corporation (the "acquired corporation") for stock or securities of a foreign acquiring corporation in a reorganization under section 368(a)(1)(D) of the Code in which the foreign acquiring corporation transfers part or all of the acquired corporation's assets to a subsidiary, controlled by the acquiring corporation pursuant to the plan of reorganization, constitutes an indirect transfer of stock or securities by the U.S. person to the foreign acquiring corporation. |
| Notice 2002-76(PDF, 25K) |
IRB #2002-48(HTML) |
Dec. 2, 2002 |
| Gross income; disaster relief payments. This notice provides answers to frequently asked questions regarding the tax treatment of Residential Grant Program grants the Lower Manhattan Development Corporation makes to individuals and families who occupy rental units or owner-occupied units in areas near the site of the September 11, 2001, attack on the World Trade Center. |
| Notice 2002-75(PDF, 42K) |
IRB #2002-47(HTML) |
Nov. 25, 2002 |
| Annual accounting periods; automatic approval. This notice proposes a revenue procedure that, when finalized, will provide guidance for individuals to obtain automatic approval of the Commissioner to change their annual accounting period to the calendar year. Revenue Procedure 66-50 modified, amplified, and superseded. Revenue Procedure 81-40 modified and superseded. |
| Notice 2002-74(PDF, 16K) |
IRB #2002-47(HTML) |
Nov. 25, 2002 |
| Weighted average interest rate update. The weighted average interest rate for November 2002 and the resulting permissible range of interest rates used to calculate current liability for purposes of the full funding limitation of section 412(c)(7) of the Code are set forth. |
| Notice 2002-73(PDF, 17K) |
IRB #2002-46(HTML) |
Nov. 18, 2002 |
| The Service clarifies the circumstances in which a state or local bond is treated as issued by the New York City Water Finance Authority or the Metropolitan Transportation Authority for purposes of section 1400L(e)(2)(B) of the Code. |
| Notice 2002-72(PDF, 25K) |
IRB #2002-46(HTML) |
Nov. 18, 2002 |
| Changes in annual accounting period. This notice clarifies and modifies certain provisions in Rev. Procs. 2002-37, 2002-38, and 2002-39, which provide procedures for obtaining approval of an adoption, change, or retention of an annual accounting period. |
| Notice 2002-71(PDF, 18K) |
IRB #2002-45(HTML) |
Nov. 12, 2002 |
| Retirement plans; year 2003 section 415(d) limitations. This notice sets forth certain cost-of-living adjustments effective January 1, 2003, applicable to the dollar limits on benefits under qualified defined benefit pension plans and to other provisions affecting (1) certain plans of deferred compensation and (2) "control employees." |
| Notice 2002-70(PDF, 26K) |
IRB #2002-44(HTML) |
Nov. 4, 2002 |
| This notice alerts taxpayers and their representatives about certain reinsurance transactions intended to shift income to offshore related companies purported to be insurance companies that are subject to little or no U.S. federal income tax. These transactions often do not generate the federal tax benefits that taxpayers claim are allowable for federal income tax purposes. This notice also alerts taxpayers, their representatives, and promoters of these transactions, to certain reporting and record keeping obligations and penalties that they may be subject to with respect to these transactions. |
| Notice 2002-69(PDF, 36K) |
IRB #2002-43(HTML) |
Oct. 28, 2002 |
| This notice provides interim guidance for determining interest rates and foreign loss payment patterns for certain foreign insurance companies under section 954(i) of the Code. Comments are requested by March 28, 2003. |
| Notice 2002-68(PDF, 17K) |
IRB #2002-43(HTML) |
Oct. 28, 2002 |
| Weighted average interest rate update. The weighted average interest rate for October 2002 and the resulting permissible range of interest rates used to calculate current liability for purposes of the full funding limitation of section 412(c)(7) of the Code are set forth. |
| Notice 2002-67(PDF, 31K) |
IRB #2002-42(HTML) |
Oct. 21, 2002 |
| Gain or loss; payments to peanut quota holders. Information is provided, in a question and answer format, to holders of peanut quotas regarding the tax treatment of federal payments made under section 1309 of the Farm Security and Rural Investment Act of 2002. |
| Notice 2002-66(PDF, 17K) |
IRB #2002-42(HTML) |
Oct. 21, 2002 |
| This notice extends through the end of calendar year 2002 the transitional documentation and reporting relief for foreign partnerships, Qualified Intermediaries (QIs), and U.S. withholding agents specified in Notice 2001-4. |
| Notice 2002-66(PDF, 17K) |
IRB #2002-42(HTML) |
Oct. 21, 2002 |
| This notice extends through the end of calendar year 2002 the transitional documentation and reporting relief for foreign partnerships, Qualified Intermediaries (QIs), and U.S. withholding agents specified in Notice 2001-4. |
| Notice 2002-65(PDF, 24K) |
IRB #2002-41(HTML) |
Oct. 15, 2002 |
| This notice advises taxpayers and their representatives that the transaction it describes, which uses a straddle, an S corporation or a partnership, and one or more transitory shareholders or partners to claim a loss while deferring an offsetting gain, is subject to challenge by the Service on several grounds. This notice holds that the described transaction is a “listed transaction” and warns of penalties that may be imposed if taxpayers claim losses from such a transaction. |
| Notice 2002-64(PDF, 17K) |
IRB #2002-41(HTML) |
Oct. 15, 2002 |
| New markets tax credit; other federal tax benefits. This notice provides guidance to taxpayers on federal tax benefits that do not limit the availability of the new markets tax credit under section 45D of the Code. |
| Notice 2002-63(PDF, 18K) |
IRB #2002-40(HTML) |
Oct. 7, 2002 |
| Mileage awards. This notice provides guidance on the application of the excise tax on the amount paid for air transportation to amounts paid for frequent flyer miles. Under the notice, amounts paid for mileage awards that cannot be redeemed for taxable transportation are not subject to tax. The notice further provides that, inasmuch as mileage awards issued by a foreign air carrier cannot be redeemed for taxable transportation, those mileage awards are not subject to tax. In addition, the notice provides that amounts paid by an air carrier to another air carrier for mileage awards that can be redeemed for taxable transportation are not subject to tax to the extent those miles will be awarded in connection with the purchase of taxable transportation. Amounts paid by an air carrier to another air carrier for mileage awards that can be redeemed for taxable transportation are subject to tax to the extent the miles will be awarded other than in connection with the purchase of taxable transportation. Notice 2001-6 modified and superseded. |
| Notice 2002-62(PDF, 16K) |
IRB #2002-39(HTML) |
Sept. 30, 2002 |
| Timely filing or payment; private delivery services. This document provides an updated list of designated private delivery services (PDSs) for purposes of section 7502 of the Code. Two new delivery services are added to the list effective September 5, 2002. Notices 97-26 and 2001-62 modified and superseded. |
| Notice 2002-61(PDF, 14K) |
IRB #2002-38(HTML) |
Sept. 23, 2002 |
| Weighed average interest rate update. The weighted average interest rate for September 2002 and the resulting permissible range of interest rates used to calculate current liability for purposes of the full funding limitation of section 412(c)(7) of the Code are set forth. |
| Notice 2002-60(PDF, 20K) |
IRB #2002-36(HTML) |
Sept. 9, 2002 |
| Exclusion of gain from sale or exchange of principal residence for taxpayers affected by the September 11, 2001, terrorist attacks. This notice informs taxpayers affected by the September 11, 2001, terrorist attacks of the circumstances under which they may qualify for the reduced maximum exclusion of gain on the sale or exchange of a principal residence provided by section 121(c) of the Code. |
| Notice 2002-59(PDF, 20K) |
IRB #2002-36(HTML) |
Sept. 9, 2002 |
| Split-dollar life insurance arrangements. This notice explains the standards for valuing current life insurance protection under a split-dollar life insurance arrangement. This document also informs taxpayers that certain techniques being used to understate the value of certain policy benefits distort the income, employment, or gift tax consequences of the arrangement and does not conform to, and is not permitted by, any published guidance. |
| Notice 2002-49(PDF, 22K) |
IRB #2002-29(HTML) |
July 22, 2002 |
| Weighted average interest rate update. The weighted average interest rate for July 2002 and the resulting permissible range of interest rates used to calculate current liability for purposes of the full funding limitation of section 412(c)(7) of the Code are set forth. |
| Notice 2002-58(PDF, 16K) |
IRB #2002-35(HTML) |
Sept. 3, 2002 |
| Capital gains and losses; sale or exchange. Taxpayers are informed that the election under section 311(e) of the Taxpayer Relief Act of 1997 to treat certain assets held on January 1, 2001, as having been sold and then reacquired on that date is properly made by following certain IRS forms and instructions. Under appropriate circumstances, the Service will grant requests to make a late election under sections 301.9100-1 through 301.9100-3 of the regulations. |
| Notice 2002-48(PDF, 18K) |
IRB #2002-29(HTML) |
July 22, 2002 |
| Deductibility of contributions; timing. This notice provides that the Service will not challenge the deductibility of certain contributions actually made during the taxable year in anticipation of section 401(k) deferrals and section 401(m) matching contributions. |
| Notice 2002-57(PDF, 9K) |
IRB #2002-33(HTML) |
Aug. 19, 2002 |
| Weighted average interest rate update. The weighted average interest rate for August 2002 and the resulting permissible range of interest rates used to calculate current liability for purposes of the full funding limitation of section 412(c)(7) of the Code are set forth. |
| Notice 2002-56(PDF, 18K) |
IRB #2002-32(HTML) |
Aug. 12, 2002 |
| This document notifies states and other issuers of qualified exempt facility bonds described in section 142(a)(13) of the Code of the proper population figures to be used for calculating the limitation under section 142(k)(5) of the annual aggregate face amount of tax-exempt bonds described in section 142(a)(13). |
| Notice 2002-55(PDF, 15K) |
IRB #2002-36(HTML) |
Sept. 9, 2002 |
| Under Rev. Proc. 2002-41, certain employers in the pipeline construction industry may use an optional expense substantiation rule for certain employee business expenses. The Rev. Proc. is effective for reimbursements paid on or after January 1, 2003. In response to employer comments, this notice provides that these employers may elect to implement the provisions of Rev. Proc. 2002-41 as of the date this notice is published in the Internal Revenue Bulletin. |
| Notice 2002-54(PDF, 11K) |
IRB #2002-30(HTML) |
July 29, 2002 |
| 2002 marginal production rates. This notice announces the applicable percentage under section 613A of the Code to be used in determining percentage depletion for marginal properties for the 2002 calendar year. |
| Notice 2002-53(PDF, 20K) |
IRB #2002-30(HTML) |
July 29, 2002 |
| 2002 enhanced oil recovery credit. The enhanced oil recovery credit for taxable years beginning in the 2002 calendar year is determined without regard to the phase-out for crude oil price increases provided in section 43(b) of the Code. |
| Notice 2002-52(PDF, 12K) |
IRB #2002-30(HTML) |
July 29, 2002 |
| This notice clarifies proposed regulations (REG-105369-00, 2002-18, I.R.B. 828) under sections 141 and 148 of the Code relating to certain natural gas prepayments. |
| Notice 2002-51(PDF, 24K) |
IRB #2002-29(HTML) |
July 22, 2002 |
| This notice solicits public comments on the application of section 142(a)(6) of the Code, which permits tax-exempt bonds to be issued to finance solid waste disposal facilities. |
| Notice 2002-50(PDF, 22K) |
IRB #2002-28(HTML) |
July 15, 2002 |
| Partnership straddle tax shelter. This notice advises taxpayers and their representatives that the described transaction, which uses a straddle, a tiered partnership, a transitory partner and the absence of a section 754 election to obtain a permanent non-economic loss, is subject to challenge by the Service on several grounds. The notice holds that the described transaction is now a “listed transaction” and warns of the potential penalties that may be imposed if taxpayers claim losses from such a transaction. |
| Notice 2002-47(PDF, 24K) |
IRB #2002-28(HTML) |
July 15, 2002 |
| Application of employment taxes to statutory stock options. This notice provides that until Treasury and the Service issue further guidance, in the case of a statutory stock option, the Service will not assess the Federal Insurance Contributions Act (FICA) tax or Federal Unemployment Tax Act (FUTA) tax, or apply federal income tax withholding obligations, upon either the exercise of the option or the disposition of the stock acquired by an employee pursuant to the exercise of the option. |
| Notice 2002-46(PDF, 24K) |
IRB #2002-28(HTML) |
July 15, 2002 |
| Optional forms of benefit; section 645 of EGTRRA; request for comments. This notice requests comments from the public on proposed regulations that will be issued concerning elimination of optional forms of benefit from defined benefit plans. |
| Notice 2002-45(PDF, 38K) |
IRB #2002-28(HTML) |
July 15, 2002 |
| This notice describes the tax treatment of an employerprovided medical care expense reimbursement plan called a health reimbursement arrangement (HRA). The notice explains that to maintain favorable tax treatment, HRAs may only reimburse employees or former employees for their medical care expenses and their spouses’ and dependents’. This notice also explains that the requirements for flexible spending arrangements (FSAs) stated in section 125 of the Code are generally not applicable to HRAs. In particular, an HRA may allow a plan participant to carry forward unused reimbursement amounts to be used for medical care expense reimbursements in later coverage periods. Also, this notice explains that to retain exemption from the section 125 FSA requirements, the HRA must be solely employer-funded and cannot be directly or indirectly paid for pursuant to salary reduction election. |
| Notice 2002-44(PDF, 23K) |
IRB #2002-27(HTML) |
July 8, 2002 |
| This notice provides a central filing address for certain claims under section 41 of the Code for the credit for increasing research activities (research credit) and clarifies that claims for refund claiming the research credit will be administratively considered by the Service only if filed in accordance with applicable regulatory requirements under sections 6402 and 6511 of the Code. |
| Notice 2002-43(PDF, 23K) |
IRB #2002-27(HTML) |
July 8, 2002 |
| Phased retirement; request for comments. This notice requests comments from the public on issues that might arise in the context of “phased retirement” in the instance of qualified defined benefit plans. |
| Notice 2002-42(PDF, 28K) |
IRB #2002-27(HTML) |
July 8, 2002 |
| This notice provides guidance to taxpayers concerning the tax benefits of the New York Liberty Zone business employee credit, Qualified New York Liberty Bonds, and Liberty Advance Refunding Bonds, as provided under the Job Creation and Worker Assistance Act of 2002. |
| Notice 2002-41(PDF, 159K) |
IRB #2002-24(HTML) |
June 17, 2002 |
| This notice contains guidance for entering into a withholding foreign partnership or withholding foreign trust agreement with the service. |
| Notice 2002-40(PDF, 20K) |
IRB #2002-24(HTML) |
June 17, 2002 |
| This notice supplements the relief granted in Notice 2001-61, 2001-40 I.R.B. 305, and Notice 2001-68, 2001-47 I.R.B. 504, for taxpayers affected by the September 11, 2001, terrorist attack by expanding relief from interest and penalties. The notice implements changes that were made to section 7508A of the Code by the Victims of Terrorism Tax Relief Act of 2001. |
| Notice 2002-39(PDF, 18K) |
IRB #2002-25(HTML) |
June 24, 2002 |
| Electricity produced from certain renewable resources; calendar year 2002 inflation adjustment factor and reference prices. This notice announces the calendar year 2002 inflation adjustment factor and reference prices for the renewable electricity production credit under section 45 of the Code. |
| Notice 2002-38(PDF, 12K) |
IRB #2002-25(HTML) |
June 24, 2002 |
| Weighted average interest rate update. The weighted average interest rate for June 2002 and the resulting permissible range of interest rates used to calculate current liability for purposes of the full funding limitation of section 412(c)(7) of the Code are set forth. |
| Notice 2002-37(PDF, 20K) |
IRB #2002-23(HTML) |
June 10, 2002 |
| This notice announces that regulations will be issued addressing partnership transactions involving contracts accounted for under a long-term contract method of accounting. |
| Notice 2002-36(PDF, 20K) |
IRB #2002-22(HTML) |
June 3, 2002 |
| Contingent convertible debt instruments. This notice requests comments and suggestions for change in the relative tax treatment of straight convertible debt instruments and contingent convertible debt instruments. Rev. Rul. 2002-31 sets forth the tax treatment of contingent convertible debt instruments under current law. |
| Notice 2002-35(PDF, 22K) |
IRB #2002-21(HTML) |
May 28, 2002 |
| Notional principal contract tax shelter. The Service may challenge transactions using notional principal contracts to claim current deductions for periodic payments made by a tax-payer while disregarding the accrual of a right to receive offsetting payments in the future. These transactions are designated as "listed transactions" for purposes of sections 1.6011-T(b)(2) and 301.6111-2T of the regulations. |
| Notice 2002-34(PDF, 27K) |
IRB #2002-21(HTML) |
May 28, 2002 |
| This notice announces and provides guidance for a voluntary compliance program to promote disclosure for political organizations that file Forms 8871, 8872, 1120-POL, 990, and 990-EZ by July 15, 2002. |
| Notice 2002-33(PDF, 19K) |
IRB #2002-21(HTML) |
May 28, 2002 |
| Section 809 information return. This notice suspends the requirement that mutual life insurance companies and the 50 largest stock life insurance companies file Form 8390, Information Return for Determination of Life Insurance Company Earnings Rate Under Section 809, in 2002 and 2003 due to section 809(j) which was added to the Code by the Job Creation and Workers Assistance Act of 2002. |
| Notice 2002-32(PDF, 13K) |
IRB #2002-21(HTML) |
May 28, 2002 |
| Weighted average interest rate update. The weighted average interest rate for May 2002 and the resulting permissible range of interest rates used to calculate current liability for purposes of the full funding limitation of section 412(c)(7) of the Code are set forth. |
| Notice 2002-31(PDF, 32K) |
IRB #2002-19(HTML) |
May 13, 2002 |
| This document provides the contents of a proposed revenue ruling concerning the employment taxation and reporting of nonqualified stock options and nonqualified deferred compensation transferred to a former spouse incident to a divorce. The notice also requests comments from the public about the proposed ruling. |
| Notice 2002-30(PDF, 20K) |
IRB #2002-17(HTML) |
April 29, 2002 |
| Credit for sales of fuel produced from a nonconventional source, inflation adjustment factor, and reference price. This notice publishes the nonconventional source fuel credit, inflation adjustment factor, and reference price under section 29 of the Code for calendar year 2001. This data is used to determine the credit allowable on sales of fuel produced from a nonconventional source. |
| Notice 2002-29(PDF, 14K) |
IRB #2002-17(HTML) |
April 29, 2002 |
| Section 469 and gain recognition election. This document explains the effect under section 469 of the Code of a deemed sale of property on January 1, 2001, pursuant to an election under section 311(e) of the Taxpayer Relief Act of 1997. |
| Notice 2002-28(PDF, 16K) |
IRB #2002-16(HTML) |
April 22, 2002 |
| Weighted average interest rate update. The weighted average interest rate for April 2002 and the resulting permissible range of interest rates used to calculate current liability for purposes of the full funding limitation of section 412(c)(7) of the Code are set forth. |
| Notice 2002-27(PDF, 19K) |
IRB #2002-18(HTML) |
May 6, 2002 |
| Minimum distributions; reporting requirements. This notice provides guidance on the reporting required from issuers, custodians, and trustees with respect to required minimum distributions from individual retirement arrangements (IRAs). |
| Notice 2002-26(PDF, 19K) |
IRB #2002-15(HTML) |
April 15, 2002 |
| Weighted average interest rate update. The weighted average interest rate for the first quarter of 2002 and the resulting permissible range of interest rates used to calculate current liability for purposes of the full funding limitation of section 412(c)(7) of the Code are set forth. |
| Notice 2002-25(PDF, 14K) |
IRB #2002-15(HTML) |
April 15, 2002 |
| Charitable contributions, substantiation, relief. Due to the unique circumstances of the September 11th tragedy, taxpayers who made charitable contributions of $250 or more after September 10, 2001, and before January 1, 2002, are provided with partial relief from the "contemporaneous written acknowledgement" requirement of section 170(f)(8) of the Code with respect to those contributions. |
| Notice 2002-24(PDF, 14K) |
IRB #2002-16(HTML) |
April 22, 2002 |
| Section 6039D returns with respect to certain fringe benefits. This notice suspends the filing requirement imposed on specified fringe benefit plans by section 6039D of the Code. Notice 90-24 modified and superseded. |
| Notice 2002-23(PDF, 14K) |
IRB #2002-15(HTML) |
April 15, 2002 |
| Form 5500; DOL delinquent filer program. This notice provides relief from certain penalties under sections 6652 and 6692 of the Code for late filers of Form 5500 who are eligible for and satisfy the requirements of the Department of Labor's (DOL's) Delinquent Filer Voluntary Compliance (DFVC) program. |
| Notice 2002-22(PDF, 19K) |
IRB #2002-14(HTML) |
April 8, 2002 |
| Guidance priority list. Public comments are requested about items that should be included in the Guidance Priority List for 2002-2003. All comments should be submitted by April 30, 2002. |
| Notice 2002-21(PDF, 21K) |
IRB #2002-14(HTML) |
April 8, 2002 |
| This notice addresses a transaction generating tax losses based on an inflated basis in assets acquired from another party. The inflated basis is claimed as a result of a transfer of assets in which a taxpayer becomes jointly and severally liable on indebtedness of the transferor, with the indebtedness having a stated principal amount substantially in excess of the fair market value of the assets transferred. The notice states that the taxpayer's basis in the assets transferred is equal to the fair market value of such assets upon their acquisition by the taxpayer rather than the stated principal amount of the indebtedness. |
| Notice 2002-20(PDF, 20K) |
IRB #2002-17(HTML) |
April 29, 2002 |
| Industry Issue Resolution Program. This document announces that the Industry Issue Resolution (IIR) Program, a pilot program aimed at resolving contentious tax issues involving business, is being made permanent and expanded to be available to all business taxpayers. Taxpayers as well as industry associations and other groups representing taxpayers are invited to suggest issues and possible options for resolution. |
| Notice 2002-19(PDF, 17K) |
IRB #2002-10(HTML) |
March 11, 2002 |
| The "differential earnings rate" under section 809 of the Code is tentatively determined for 2001 together with the "recomputed differential earnings rate" for 2000. |
| Notice 2002-18(PDF, 12K) |
IRB #2002-12(HTML) |
March 25, 2002 |
| Loss duplication. The IRS announces that regulations will be issued to prevent duplication of losses within a consolidated group on dispositions of member stock. |
| Notice 2002-17(PDF, 41K) |
IRB #2002-9(HTML) |
March 4, 2002 |
| This notice provides guidance, in a question and answer format, on the tax relief provided under Executive Order No. 13239 (2001-53 I.R.B. 632) for U.S. military and support personnel involved in the military operations in Afghanistan. |
| Notice 2002-16(PDF, 13K) |
IRB #2002-9(HTML) |
March 4, 2002 |
| Weighted average interest rate update. The weighted average interest rate for February 2002 and the resulting permissible range of interest rates used to calculate current liability for purposes of the full funding limitation of section 412(c)(7) of the Code are set forth. |
| Notice 2002-15(PDF, 21K) |
IRB #2002-8(HTML) |
Feb. 25, 2002 |
| This notice supplements the tax relief granted in Notices 2001-61 (2001-40 I.R.B. 305) and 2001-68 (2001-47 I.R.B. 504) for taxpayers affected by the September 11, 2001, terrorist attack by providing an additional postponement of time to apply for a tentative carryback adjustment under section 6411 of the Code. |
| Notice 2002-14(PDF, 13K) |
IRB #2002-8(HTML) |
Feb. 25, 2002 |
| Automatic change to the cash method of accounting. Qualifying small business taxpayers within the scope of the proposed revenue procedure set forth in Notice 2001-76 (2001-52 I.R.B. 613) may change to the cash method of accounting and treat inventoriable items as non-incidental materials and supplies with respect to its eligible trades or businesses for any taxable year ending on or after December 31, 2001. |
| Notice 2002-13(PDF, 12K) |
IRB #2002-8(HTML) |
Feb. 25, 2002 |
| Low-income housing tax credit. This notice reproduces the proper population figures to be used for determining the 2002 calendar year population-based component of the state housing credit ceiling under section 42(h) of the Code and the 2002 calendar year volume cap under section 146 of the Code. |
| Notice 2002-12(PDF, 13K) |
IRB #2002-7(HTML) |
Feb. 19, 2002 |
| Patriots' Day 2002 in Massachusetts and Maine. Because Patriots' Day falls on April 15, this notice provides individual taxpayers residing in Massachusetts, Michigan, New York (all counties except Nassau, Rockland, Suffolk, Westchester, and New York City), Rhode Island, and Maine an additional day to file their federal income tax returns and make their payments (until April 16, 2002). This includes the payment of the first installment of estimated tax for 2002. |
| Notice 2002-11(PDF, 13K) |
IRB #2002-7(HTML) |
Feb. 19, 2002 |
| Loss disallowance. This notice sets forth the Service's new position with regard to consolidated return loss disallowance rules. |
| Notice 2002-10(PDF, 12K) |
IRB #2002-6(HTML) |
Feb. 11, 2002 |
| This document clarifies the application of sections 145(a)(2) and 514 of the Code to the investment of gross proceeds of qualified 501(c)(3) bonds. |
| Notice 2002-9(PDF, 13K) |
IRB #2002-5(HTML) |
Feb. 4, 2002 |
| Weighted average interest rate update. The weighted average interest rate for January 2002 and the resulting permissible range of interest rates used to calculate current liability for purposes of the full funding limitation of section 412(c)(7) of the Code are set forth. |
| Notce 2002-8(PDF, 22K) |
IRB #2002-4(HTML) |
Jan. 28, 2002 |
| Split-dollar life insurance arrangements. This notice announces that the Treasury and the Service intend to publish proposed regulations providing comprehensive guidance on the Federal tax treatment of split-dollar life insurance arrangements. In addition, this notice indicates that any regulations will not be effective until the publication date of the final regulations, and provides information on the tax treatment of split-dollar life insurance arrangements entered into prior to the effective date of final regulations. Notice 2001–10 revoked. Rev. Rul. 55–747 revoked, Rev. Ruls. 64–328 and 66–110 modified. |
| Notice 2002-7(PDF, 21K) |
IRB #2002-6(HTML) |
Feb. 11, 2002 |
| Minimum funding standards; terrorist attack relief. This notice provides certain relief for all plans subject to the minimum funding standards of section 412 of the Code and additional relief from the minimum funding standards for certain plans affected by the terrorist attack of September 11, 2001. |
| Notice 2002-6(PDF, 13K) |
IRB #2002-3(HTML) |
Jan. 22, 2002 |
| This document clarifies that, although tax return preparers may be subject to the privacy provisions of the Gramm-Leach-Bliley Act, those provisions do not supersede, alter, or affect the preexisting requirements of section 7216 of the Code restricting the disclosure or use of tax return information by a tax return preparer. |
| Notice 2002-5(PDF, 37K) |
IRB #2002-3(HTML) |
Jan. 22, 2002 |
| Tax Court review of worker classification and section 530 determinations. This document describes procedures that the Service has implemented to comply with the amendment to section 7436 of the Code by the Community Renewal Tax Relief Act of 2000. Notice 98-43 modified and superseded. |
| Notice 2002-4(PDF, 34K) |
IRB #2002-2(HTML) |
Jan. 14, 2002 |
| EGTRRA; section 401(k) distributions; section 414(v) contributions. This document provides guidance with respect to the changes made by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) which pertain to hardship distributions, severance of employment, and the availability of catch-up contributions. |
| Notice 2002-3(PDF, 70K) |
IRB #2002-2(HTML) |
Jan. 14, 2002 |
| Safe harbor explanation; certain qualified plan distributions. This document provides an updated Safe Harbor Explanation that plan administrators may use for recipients of eligible rollover distributions from qualified plans in order to satisfy section 402(f) of the Code. Notice 2000-11 obsoleted. |
| Notice 2002-2(PDF, 47K) |
IRB #2002-2(HTML) |
Jan. 14, 2002 |
| EGTRRA; ESOP; dividend elections. This document describes in question and answer format the changes in dividend elections under section 404(k) of the Code as amended by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) and the effective date of section 409(p) of the Code as added by EGTRRA. |
| Notice 2002-1(PDF, 26K) |
IRB #2002-2(HTML) |
Jan. 14, 2002 |
| EGTRRA; Employee plans user fees. This document describes the changes in employee plans user fees as a result of the enactment of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). Rev. Procs. 2002-6 and 2002-8 modified. |
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