2002 Treasury Decisions
"Treasury Decisions" are either temporary or
final Regulations that have been approved by the Department of the Treasury after submission from the IRS. (Proposed regulations are not approved by the Treasury Dept.) Tax
Regulations are the IRS Commissioner's rules, for the application and administration of the Internal Revenue laws. The purpose of regulations is to provide taxpayers, their
representatives, and Service personnel with rules of general application so they may clearly understand the taxpayer's rights and duties under the law.
Regulations are promulgated by publishing in the Federal Register, and are also published in the weekly Internal Revenue Bulletin. All persons concerned are, by reason of
publication in the Federal Register, given notice of the official rules of the Department of the Treasury for the administration, application, and enforcement of the Internal Revenue laws.
Final regulations carry the force and effect of law.
For more information about IRS Regulations, see the Guide to Understanding the Differences Among Official IRS Documents
Treasury Decisions are in the Adobe Acrobat PDF format.
Internal Revenue Bulletin Summary pages are in HTML format.
| Treasury Decisions |
Bulletin |
Date of IRB |
 |
| T.D. 9023(PDF, 38K) |
IRB #2002-50(HTML) |
Dec. 16, 2002 |
| Final regulations under section 1441 of the Code provide rules to allow withholding agents, who are also acceptance agents, to rely on a beneficial owner withholding certificate that does not contain an individual taxpayer identifying number (ITIN), in limited circumstances when the IRS is not issuing ITINs. Specifically, the regulations have the effect of: (1) allowing certain withholding agents to obtain ITINs on an expedited basis for foreign individuals receiving unexpected payments and claiming tax treaty benefits with respect to those payments; and (2) allowing withholding agents to make unexpected payments to foreign individuals, who do not possess ITINs, when the use of the expedited process is unavailable. |
| T.D. 9022(PDF, 53K) |
IRB #2002-48(HTML) |
Dec. 2, 2002 |
| Temporary and proposed regulations under section 6043(c) of the Code require information reporting by a corporation if there is an acquisition of control of the corporation or a substantial change in the corporation's capital structure. The regulations require the corporation to file a form reporting the event and to file Forms 1099 with respect to amounts distributed to shareholders. These regulations also require brokers who receive a Form 1099 as the record holder of stock, pursuant to section 6043(c) regulations, to file a Form 1099 with respect to the actual owner of the stock. A public hearing on the proposed regulations is scheduled for March 5, 2003. |
| T.D. 9021(PDF, 53K) |
IRB #2002-51(HTML) |
Dec. 23, 2002 |
| Final regulations under section 72(p) of the Code relate to loans made from a qualified employer plan to plan participants or beneficiaries. The regulations address the suspension of loan repayments during a leave for military service under section 414(u)(4), the effect of a new loan following a deemed distribution of a prior loan, the effect of refinancings, and multiple loans. |
| T.D. 9020(PDF, 22K) |
IRB #2002-48(HTML) |
Dec. 2, 2002 |
| Substantiation of incidental expenses. Final, temporary, and proposed regulations under section 274 of the Code authorize the Commissioner to establish a method under which a taxpayer may substantiate the amount of incidental expenses paid or incurred while traveling away from home by means of an allowance in lieu of substantiating the actual cost. |
| T.D. 9019(PDF, 25K) |
IRB #2002-47(HTML) |
Nov. 25, 2002 |
| Unit livestock price method. Final regulations under section 471 of the Code provide rules relating to the annual reevaluation of unit livestock prices and the depreciation of livestock raised for drafting, breeding, or dairy purposes. |
| T.D. 9018(PDF, 56K) |
IRB #2002-45(HTML) |
Nov. 12, 2002 |
| Temporary and proposed regulations under section 6112 of the Code modify the requirement for sellers and organizers to maintain lists or persons in potentially abusive tax shelters. A public hearing on the proposed regulations is scheduled for December 11, 2002. |
| T.D. 9017(PDF, 65K) |
IRB #2002-45(HTML) |
Nov. 12, 2002 |
| Temporary and proposed regulations under section 6011 of the Code modify the disclosure requirements relating to reportable transactions. Six new provisions are added pursuant to section 6011 requiring the disclosure of listed transactions that are related to estate, gift, employment, and pension and exempt organizations excise tax. A public hearing on the proposed regulations is scheduled for December 11, 2002. |
| T.D. 9016(PDF, 86K) |
IRB #2002-40(HTML) |
Oct. 7, 2002 |
| Final regulations under section 141 of the Code provide guidance to issuers of tax-exempt bonds in the application of the private business tests to output facilities and in the application of the special $15 million limitation for output facilities. These regulations also amend regulations issued on January 18, 2001. |
| T.D. 9015(PDF, 20K) |
IRB #2002-40(HTML) |
Oct. 7, 2002 |
| Final, temporary, and proposed regulations under section 7602 of the Code amend section 301.7602-1 of the regulations to include officers and employees of the Office of Chief Counsel in the group of persons who can take summoned testimony under oath and receive summoned documents. |
| T.D. 9014(PDF, 18K) |
IRB #2002-35(HTML) |
Sept. 3, 2002 |
| Final regulations under section 6109 of the Code allow income tax return preparers to elect an alternative to their social security number for purposes of identifying themselves on returns they prepare. |
| T.D. 9013(PDF, 62K) |
IRB #2002-38(HTML) |
Sept. 23, 2002 |
| Final regulations under section 469 of the Code recharacterize a percentage of certain portfolio income and expense as passive income and expense when a taxpayer engages in a lending transaction with a partnership or S corporation in which the taxpayer owns a direct or indirect interest and the loan proceeds are used in a passive activity. |
| T.D. 9012(PDF, 24K) |
IRB #2002-34(HTML) |
Aug. 26, 2002 |
| Final regulations under section 7701 of the Code address the applicability of the elective federal tax classification regime (the check-the-box regulations) to business entities wholly owned by a foreign government and to wholly owned nonbank entities of foreign banks. These regulations also provide that the term "entity" for purposes of section 892(a)(2)(B) of the Code includes a partnership. |
| T.D. 9011(PDF, 141K) |
IRB #2002-33(HTML) |
Aug. 19, 2002 |
| Final regulations provide clarifying guidance with respect to and modify the regulations governing practice before the Internal Revenue Service (Circular 230). |
| T.D. 9010(PDF, 59K) |
IRB #2002-33(HTML) |
Aug. 19, 2002 |
| Final regulations under sections 6041 and 6045 of the Code concern information reporting requirements for certain payments made on behalf of another person, payments to joint payees, and payments of gross proceeds from sales involving investment advisors. Rev. Ruls. 54-571, 55-606, 59-328, 64-36, 65-129, 67-197, 73-232, 77-53, 85-50, and 93-70 obsoleted as of January 1, 2003. Rev. Ruls. 69-595 and 70-608 obsoleted in part as of January 1, 2003. |
| T.D. 9009(PDF, 32K) |
IRB #2002-33(HTML) |
Aug. 19, 2002 |
| Final regulations under section 706 of the Code provide guidance on determining the taxable year of a partnership with certain foreign partners and tax-exempt partners. |
| T.D. 9008(PDF, 49K) |
IRB #2002-33(HTML) |
Aug. 19, 2002 |
| Final regulations under sections 702, 952, 954, and 956 of the Code provide guidance necessary to clarify the treatment by a controlled foreign corporation (CFC) of its distributive share of partnership income under subpart F of the Code. |
| T.D. 9007(PDF, 58K) |
IRB #2002-33(HTML) |
Aug. 19, 2002 |
| Final regulations under sections 7122, 6331, and 6103 of the Code provide procedures for the compromise of Internal Revenue tax and provide expanded compromise authority for the IRS. The regulations will permit compromise of liabilities when there is doubt as to the amount of the liability owed, when there is doubt whether the full amount of the tax can be collected, and when compromise would promote effective tax administration. The IRS may compromise to promote effective tax administration when it determines that collection of the full amount of the tax liability would create economic hardship or that compelling public policy or equity considerations identified by the taxpayer provide a sufficient basis for compromise. |
| T.D. 9006(PDF, 32K) |
IRB #2002-32(HTML) |
Aug. 12, 2002 |
| Final regulations under section 7476 of the Code set forth standards by which a plan sponsor may satisfy the notice to interested parties requirement. |
| T.D. 9005(PDF, 28K) |
IRB #2002-32(HTML) |
Aug. 12, 2002 |
| Final regulations under section 401 of the Code provide guidance relating to the return of employer contributions or withdrawal liability payments made to multiemployer plans due to a mistake of fact or law. |
| T.D. 9004(PDF, 37K) |
IRB #2002-33(HTML) |
Aug. 19, 2002 |
| Final regulations under section 860E of the Code detail safe harbor conditions under which the transfer of a REMIC noneconomic residual interest or FASIT ownership interest is presumed to be accomplished without an intention to impede the assessment or collection of tax. Rev. Proc. 2001-12 obsoleted. |
| T.D. 9003(PDF, 153K) |
IRB #2002-32(HTML) |
Aug. 12, 2002 |
| Final regulations under section 6015 of the Code provide guidance to married individuals filing joint returns who seek relief from joint and several liability. Section 6015 was added by the Internal Revenue Service Restructuring and Reform Act of 1998 to replace former section 6013(e) by providing new and expanded means for a spouse to obtain relief from joint and several liability. |
| T.D. 9002(PDF, 67K) |
IRB #2002-29(HTML) |
July 22, 2002 |
| Final regulations under section 1502 of the Code revise rules concerning the common parent as agent for a consolidated group, including the term and scope of the common parent’s authority as agent, the designation of a substitute agent by a terminating common parent, the existence of a default substitute agent under certain conditions, the designation of a substitute agent by the Commissioner under certain circumstances, and the filing of a tentative carryback adjustment with respect to a loss from a separate return year. |
| T.D. 9001(PDF, 22K) |
IRB #2002-29(HTML) |
July 22, 2002 |
| Final regulations under section 6103 of the Code permit IRS to disclose an additional item of return information to the Department of Agriculture for its use in structuring, preparing, and conducting the Census of Agriculture. The additional item consists of the taxpayer’s telephone number provided on Form 1040 (Schedule F). |
| T.D. 9000(PDF, 44K) |
IRB #2002-28(HTML) |
July 15, 2002 |
| Final, temporary, and proposed regulations under sections 6011, 6111, and 6112 of the Code modify the disclosure, registration, and list maintenance requirements relating to tax shelters. |
| T.D. 8999(PDF, 57K) |
IRB #2002-28(HTML) |
July 15, 2002 |
| Final regulations under section 894 of the Code relate to the eligibility for treaty benefits of items of income paid by domestic entities that are not fiscally transparent under U.S. laws, but are fiscally transparent under the laws of the jurisdiction of the person claiming treaty benefits (domestic reverse hybrid entities). T.D. 9000 |
| T.D. 8998(PDF, 37K) |
IRB #2002-26(HTML) |
July 1, 2002 |
| Temporary and proposed regulations under sections 337(d) and 1502 of the Code clarify and amend certain aspects of the temporary regulations relating to the deductibility of losses recognized on dispositions of subsidiary stock by members of a consolidated group. The regulations apply to 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. A public hearing on the proposed regulations is scheduled for July 17, 2002. |
| T.D. 8997(PDF, 30K) |
IRB #2002-26(HTML) |
July 1, 2002 |
| Final and proposed regulations under section 1502 of the Code provide corporations filing consolidated returns with an election to waive the 5-year net operating loss carryback period with respect to certain acquired members. |
| T.D. 8996(PDF, 122K) |
IRB #2002-24(HTML) |
June 17, 2002 |
| Final regulations under sections 441 and 442 of the Code relate to certain adoptions, changes, and retentions of annual accounting periods. The final regulations primarily affect tax-payers that want to adopt an annual accounting period or that must receive approval from the Commissioner to adopt, change, or retain an annual accounting period. In addition, the regulations provide guidance relating to the taxable years of partnerships and S corporations. Rev. Ruls. 57-589, 65-316, 68-125, 69-563, 74-326, and 78-179 obsolete. |
| T.D. 8995(PDF, 64K) |
IRB #2002-23(HTML) |
June 10, 2002 |
| Final regulations under section 460 of the Code provide rules applicable when there is a mid-contract change in the taxpayer accounting for a long-term contract that has been under a long-term contract method of accounting. |
| T.D. 8994(PDF, 112K) |
IRB #2002-23(HTML) |
June 10, 2002 |
| Final regulations under sections 444, 641, 1361, 1362, and 1377 of the Code relate to the qualification and taxation of electing small business trusts (ESBTs), and to the definition of deferral entities for purposes of electing a taxable year other than the required taxable year. Notices 97-12 and 97-49 and Rev. Proc. 98-23 superseded. |
| T.D. 8993(PDF, 23K) |
IRB #2002-22(HTML) |
June 3, 2002 |
| Final regulations under section 1275 of the Code provide guidance on the treatment of annuity contracts issued by an insurance company subject to tax under subchapter L. |
| T.D. 8992(PDF, 55K) |
IRB #2002-21(HTML) |
May 28, 2002 |
| Final regulations under section 6050S relate to information reporting, including magnetic media reporting requirements for payments of interest on qualified education loans (Form 1098-E) and the continuation of Notice 98-7 for the calendar year 2002. |
| T.D. 8991(PDF, 76K) |
IRB #2002-21(HTML) |
May 28, 2002 |
| Final regulations under section 513 of the Code provide guidance concerning whether corporate sponsorship payments to tax-exempt organizations are unrelated business taxable income. |
| T.D. 8990(PDF, 48K) |
IRB #2002-20(HTML) |
May 20, 2002 |
| Final regulations under section 1092 of the Code provide rules under which equity options with flexible terms and certain qualifying over-the-counter options may, under certain conditions, be eligible for qualified covered call treatment. This regulation also provides a maximum term limitation of 33 months for certain qualified covered calls. |
| T.D. 8989(PDF, 42K) |
IRB #2002-20(HTML) |
May 20, 2002 |
| Final, temporary, and proposed regulations are designed to eliminate regulatory impediments to the electronic filing of Form 1040, U.S. Individual Income Tax Return. |
| T.D. 8988(PDF, 81K) |
IRB #2002-20(HTML) |
May 20, 2002 |
| Temporary and proposed regulations under section 355(e) of the Code relate to the recognition of gain on certain distributions of stock or securities of a controlled corporation in connection with an acquisition. These regulations provide guidance on whether an acquisition is part of a plan that includes the distribution. The proposed regulations withdraw REG-107566-00 (2001-1 C.B. 346). |
| T.D. 8987(PDF, 255K) |
IRB #2002-19(HTML) |
May 13, 2002 |
| Final, temporary, and proposed regulations under section 401 of the Code relate to required minimum distributions from qualified plans, section 457 plans, section 403(b) annuity plans, and retirement income accounts (IRAs). |
| T.D. 8986(PDF, 43K) |
IRB #2002-16(HTML) |
April 22, 2002 |
| Final regulations under section 705 of the Code provide guidance for making basis adjustments necessary to coordinate sections 705 and 1032 in situations in which a corporation acquires an interest in a partnership that holds stock in that corporation. |
| T.D. 8985(PDF, 70K) |
IRB #2002-14(HTML) |
April 8, 2002 |
| Final regulations under section 1221 of the Code relate to the determination of the character of gain or loss from hedging transactions. |
| T.D. 8984(PDF, 57K) |
IRB #2002-13(HTML) |
April 1, 2002 |
| Temporary, final, and proposed regulations under sections 337(d) and 1502 of the Code permit certain losses recognized on sales of subsidiary stock by members of a consolidated group. The regulations apply to 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. A public hearing on the proposed regulations. |
| T.D. 8983(PDF, 17K) |
IRB #2002-9(HTML) |
March 4, 2002 |
| Final regulations under section 6071 of the Code relate to the time for eligible air carriers to file a return for the third calendar quarter of 2001. |
| T.D. 8982(PDF, 22K) |
IRB #2002-8(HTML) |
Feb. 25, 2002 |
| Final regulations under section 1031 of the Code narrow the definition of the term disqualified person for section 1031 like-kind exchanges in response to recent changes in the federal banking law, especially the repeal of section 20 of the Banking Act of 1933 (the Glass-Steagall Act). The regulations will affect the eligibility of certain persons to serve as escrow holders of qualified escrow accounts, trustees of qualified trusts, and qualified intermediaries. |
| T.D. 8981(PDF, 38K) |
IRB #2002-7(HTML) |
Feb. 19, 2002 |
| Final, temporary and proposed regulations under sections 874 and 882 of the Code relate to the disallowance of deductions and credits for nonresident alien individuals and foreign corporations that fail to file a timely U.S. income tax return unless the Commissioner waives the filing deadlines. The temporary regulations revise the waiver standard. A public hearing on the proposed regulations is scheduled for June 3, 2002. |
| T.D. 8980(PDF, 82K) |
IRB #2002-6(HTML) |
Feb. 11, 2002 |
| Final regulations under section 6330 of the Code set forth the IRS procedures for notice to taxpayers of the right to a hearing concerning an IRS levy made on or after January 19, 1999. Among other things, the regulations describe how to request a hearing, what can be considered at the hearing, and how to obtain judicial review of a determination resulting from the hearing. |
| T.D. 8979(PDF, 86K) |
IRB #2002-6(HTML) |
Feb. 11, 2002 |
| Final regulations under section 6320 of the Code set forth the IRS procedures for notice to taxpayers of the right to a hearing with respect to the filing of a federal tax lien on or after January 19, 1999. Among other things, the regulations describe how to request a hearing, what can be considered at the hearing, and how to obtain judicial review of a determination resulting from the hearing. |
| T.D. 8978(PDF, 180K) |
IRB #2002-7(HTML) |
Feb. 19, 2002 |
| Final regulations under section 4958 of the Code relate to excise taxes on excess benefit transactions and explain the rules and definitions contained in section 4958, such as rules for when organization managers are liable for a tax and the definitions of "applicable tax-exempt organization" and "disqualified person." |
| T.D. 8978(PDF, 180K) |
IRB #2002-7(HTML) |
Feb. 19, 2002 |
| Final regulations under section 4958 of the Code relate to excise taxes on excess benefit transactions and explain the rules and definitions contained in section 4958, such as rules for when organization managers are liable for a tax and the definitions of "applicable tax-exempt organization" and "disqualified person." |
| T.D. 8977(PDF, 28K) |
IRB #2002-6(HTML) |
Feb. 11, 2002 |
| Temporary and proposed regulations under section 1441 of the Code amend current sections of the regulations to allow withholding agents, who are also acceptance agents, to rely on a beneficial owner withholding certificate that does not contain an individual taxpayer identifying number (ITIN) in limited circumstances when the IRS is not issuing ITINs. Specifically, the amendments would have the effect of: (1) allowing certain withholding agents to obtain ITINs on an expedited basis for foreign individuals receiving unexpected payments and claiming tax treaty benefits with respect to those payments; and (2) allowing withholding agents to make unexpected payments to foreign individuals, who do not possess ITINs, when the use of the expedited process is unavailable. |
| T.D. 8976(PDF, 142K) |
IRB #2002-5(HTML) |
Feb. 4, 2002 |
| Final regulations under section 472 of the Code relate to accounting for inventories under the last-in, first-out (LIFO) method. The regulations provide guidance regarding methods of valuing dollar-value LIFO pools and affect persons who elect to use the dollar-value LIFO and inventory price index computation (IPIC) methods or who receive dollar-value LIFO inventories in certain nonrecognition transactions. Rev. Procs. 84-57 and 98-49 obsoleted. Rev. Rul. 89-29 obsoleted. |
| T.D. 8975(PDF, 78K) |
IRB #2002-4(HTML) |
Jan. 28, 2002 |
| Temporary and proposed regulations apply to certain transactions or events that result in a Regulated Investment Company (RIC) or a Real Estate Investment Trust (REIT) owning property that has a basis determined by reference to a C corporation's basis in the property. These regulations clarify the tax treatment of transfers of C corporation property to a RIC or REIT. |
| T.D. 8974(PDF, 16K) |
IRB #2002-3(HTML) |
Jan. 22, 2002 |
| Final regulations under section 6050I of the Code cross reference section 5331 of Title 31 and concern reporting on the same form certain currency transactions that are required to be reported to both IRS and the Financial Crimes Enforcement Network (FinCEN). |
| T.D. 8973(PDF, 49K) |
IRB #2002-4(HTML) |
Jan. 28, 2002 |
| Final regulations under section 865(j)(1) of the Code relate to the allocation of loss recognized on the disposition of stock and other personal property. |
| T.D. 8972(PDF, 49K) |
IRB #2002-5(HTML) |
Feb. 4, 2002 |
| Final regulations under section 1301 of the Code provide guidance to individuals engaged in a farming business who may elect to income average and thereby reduce their regular tax liability by treating all or a portion of the current year's farming income as if it had been earned in equal portions over the prior three years. |
| T.D. 8971(PDF, 60K) |
IRB #2002-3(HTML) |
Jan. 22, 2002 |
| Temporary and proposed regulations under section 45D of the Code provide guidance on the new markets tax credit. 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 credit on each of the remaining 4 credit allowance dates. A public hearing on the proposed regulations is scheduled for March 14, 2002. |
| T.D. 8970(PDF, 17K) |
IRB #2002-2(HTML) |
Jan. 14, 2002 |
| Final regulations under section 332 of the Code address the requirement of adoption of a plan of liquidation when a subsidiary corporation makes an entity classification election to be treated as a partnership or disregarded as an entity separate from its owner. |
| T.D. 8969(PDF, 43K) |
IRB #2002-2(HTML) |
Jan. 14, 2002 |
| Final regulations under sections 6103 and 6311 of the Code authorize the Commissioner to accept payment of internal revenue taxes by credit card or debit card. Additionally, this final regulation provides that payment of tax by check or money order should be made payable to the United States Treasury. |
| T.D. 8968(PDF, 24K) |
IRB #2002-2(HTML) |
Jan. 14, 2002 |
| Temporary and proposed regulations under section 6103 of the Code permit the IRS to authorize federal, state, and local agencies with access to returns and return information to redisclose returns and return information, with the Commissioner's approval, to any authorized recipient set forth in section 6103, subject to the same conditions and restrictions, and for the same purposes, as if the recipient had received the information from the IRS directly. |
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