Links to Official IRS Bulletin Documents listed below are in the Adobe Acrobat PDF Format, and require the appropriate Acrobat Reader to view and/or print.

INCOME TAX

Announcement 2003-36(PDF, 108K)
This announcement contains the procedures for the Tax Exempt Bond Mediation Dispute Resolution Pilot Program (TEB Mediation). In furtherance of the Service's goal of resolving tax controversies on a basis that is fair and impartial to both the government and the taxpayers, TEB Mediation establishes new opportunities for Issuers (as defined in Rev. Proc. 96-16, 1996-1 C.B. 630) of tax-exempt debt, with the assistance of the Office of Appeals, to expedite the resolution of cases within the Tax Exempt Bond organization.

Rev. Proc. 2003-40(PDF, 96K)
This procedure formally establishes the Fast Track Settlement (FTS) program to expedite case resolution and to expand the range of dispute resolution options available to taxpayers. The Large and Mid-Size Business Division and the Office of Appeals will jointly administer the FTS program. FTS will also allow LMSB personnel and LMSB taxpayers an opportunity to mediate their disputes with an Appeals Official acting as a neutral party.

Rev. Proc. 2003-41(PDF, 105K)
This procedure formally establishes the Fast Track Mediation (FTM) program to expedite case resolution and to expand the range of dispute resolution options available to taxpayers. The Small Business/Self-Employed Compliance Division and the Office of Appeals will jointly administer the FTM program. FTM will also allow SB/SE personnel and SB/SE taxpayers an opportunity to mediate their disputes with an Appeals Official acting as a neutral party.

Rev. Rul. 2003-62(PDF, 84K)
Taxability of distributions of employee's trust. This ruling provides that amounts distributed from a qualified retirement plan that the distributee elects to have applied to pay health insurance premiums under a cafeteria plan are includible in the distributee's gross income. The holding also extends to situations where amounts distributed from the qualified retirement plan are applied directly to reimburse medical care expenses incurred by a participant in the qualified retirement plan.

Rev. Rul. 2003-63(PDF, 85K)
Interest rates; underpayments and overpayments. The rate of interest determined under section 6621 of the Code for the calendar quarter beginning July 1, 2003, will be 5 percent for overpayments (4 percent in the case of a corporation), 5 percent for underpayments, and 7 percent for large corporate underpayments. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 is 2.5 percent.

Notice 2003-30(PDF, 58K)
Weighted average interest rate update. The weighted average interest rate for June 2003 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.

Rev. Proc. 2003-44(PDF, 369K)
Administrative programs; correction programs. This procedure updates and expands upon the Service's correction programs for retirement plans within the jurisdiction of the Commissioner, Tax Exempt and Government Entities Division. Rev. Proc. 2002-47 modified and superseded.

Rev. Rul. 2003-62(PDF, 84K)
Taxability of distributions of employee's trust. This ruling provides that amounts distributed from a qualified retirement plan that the distributee elects to have applied to pay health insurance premiums under a cafeteria plan are includible in the distributee's gross income. The holding also extends to situations where amounts distributed from the qualified retirement plan are applied directly to reimburse medical care expenses incurred by a participant in the qualified retirement plan.

Rev. Rul. 2003-65(PDF, 83K)
Frozen plan; additional accruals; vesting service. This ruling states that the freezing of accruals under a plan is not a plan termination for purposes of determining whether vesting service may be disregarded if accruals resume under the plan. Accordingly, all years of service for the plan sponsor since the plan was established must be counted toward vesting. The result is the same if, instead, the frozen plan is merged into a new plan of the employer with accruals resuming under the merged plan.

Announcement 2003-42(PDF, 67K)
A list is provided of organizations now classified as private foundations.

Rev. Rul. 2003-64(PDF, 83K)
Unrelated business taxable income. In computing the unrelated business income tax it owes under section 511(a)(2)(A) of the Code, it is proper for a social club described in section 501(c)(7) to claim the credit under section 45B for the portion of employer social security taxes paid with respect to employee tips received from both members and nonmembers.

Announcement 2003-41(PDF, 150K)
This document contains corrections to Rev. Proc. 2003-30, 2003-17 I.R.B. 822, the specifications for the private printing of paper and laser-printed substitute Form W-2, Wage and Tax Statement, and Form W-3, Transmittal of Wage and Tax Statements.