2005 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 For example, "notices" can be used to relate what regulations will say in situations where the regulations may not be published in the immediate future.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 either in HTML or in the Adobe Acrobat PDF format.
Internal Revenue Bulletin Summary pages are in HTML format.
| Notices |
Bulletin |
Date of IRB |
 |
| Notice 2005-101(PDF) |
IRB #2005-52(HTML) |
December 27, 2005 |
| Retirement plans; qualification, list of changes. This notice sets forth a list of changes referred to in Rev. Proc. 2005-66 pertaining to the statutory, regulatory, and guidance changes needed for certain requests to the Service. |
| Notice 2005-100(PDF)) |
IRB #2005-52(HTML) |
December 27, 2005 |
| This notice provides tables that show the amount of an individual's salary, wages, or other income that is exempt from a notice of levy used to collect delinquent tax in 2006. |
| Notice 2005-99(PDF)) |
IRB #2005-52(HTML) |
December 27, 2005 |
| Regulations section 1.482-7(d)(2)(iii)(B) provides an elective method whereby controlled participants of a qualified cost sharing arrangement (QCSA) may take into account the cost of certain stock-option compensation in the same amount, and as of the same time, as the fair value of the stock options reflected as a charge against income in certain audited financial statements or disclosed in footnotes to such statements. This notice extends this elective method to certain restricted shares and restricted share units. It also permits taxpayers employing the elective method to choose to determine whether stock-based compensation is related to the intangible development area by analyzing the activities of the employee recipients of the stock-based compensation by reference to financial reporting periods, identifying the related compensation on a period by period basis. |
| Notice 2005-98(PDF)) |
IRB #2005-52(HTML) |
December 27, 2005 |
| This notice solicits applications for allocations of the clean renewable energy bond limitation under section 54(f) of the Code and provides guidance with respect to the issuance and post issuance compliance of clean renewable energy bonds. |
| Notice 2005-97(PDF)) |
IRB #2005-52(HTML) |
December 27, 2005 |
| This notice requests comments on possible changes to Rev. Proc. 2002-9, which provides the procedures for taxpayers to request automatic consent from the Commissioner to change to certain methods of accounting. |
| Notice 2005-96(PDF)) |
IRB #2005-52(HTML) |
December 27, 2005 |
| Weighted average interest rate update; corporate bond indices; 30-year Treasury securities. The weighted average interest rate for December 2005 and the resulting permissible range of interest rates used to calculate current liability and to determine the required contribution are set forth. |
| Notice 2005-95(HTML) |
IRB #2005-51(HTML) |
December 19, 2005 |
| Plan amendments; retroactive annuity starting date; elective deferrals. This notice clarifies the interaction of the amendment timing deadlines for plans qualified under section 401(a) of the Code as set forth in Rev. Proc. 2005-66 with the deadlines set forth in various other published guidance. This notice also provides transitional relief from certain deadlines, thus giving sponsors, practitioners, and employers additional time to adopt those required amendments. Notices 2004-84 and 2005-5 modified. |
| Notice 2005-94(HTML) |
IRB #2005-52(HTML) |
December 27, 2005 |
| This notice suspends employers' and payers' reporting and wage withholding requirements with respect to deferrals of compensation under section 409A of the Code for calendar year 2005. There will be no assertion of penalties against service providers in certain circumstances. |
| Notice 2005-93(HTML) |
IRB #2005-52(HTML) |
December 27, 2005 |
| This notice contains a proposed revenue procedure that would provide guidance to tax return preparers regarding the format and content of consents to use and consents to disclose tax return information under proposed section 301.7216-3 of the regulations, which was filed with the Federal Register contemporaneously with the public release of this notice on December 7, 2005. The proposed revenue procedure would also provide specific requirements for electronic signatures when a taxpayer executes an electronic consent to the use or disclosure of the taxpayer's tax return information. |
| Notice 2005-92(HTML) |
IRB #2005-51(HTML) |
December 19, 2005 |
| Distributions; recontributions; loans; Katrina Emergency Tax Relief Act of 2005 (KETRA). This notice describes various aspects of sections 101 and 103 of KETRA. The notice addresses distributions, recontributions, 3-year ratable inclusions, 1-year inclusions and loans. The notice contains numerous examples of how these provisions work in the context of eligible retirement plans. |
| Notice 2005-91(HTML) |
IRB #2005-51(HTML) |
December 19, 2005 |
| This notice informs taxpayers that guidance will be issued regarding the election to treat members of a family as a single S corporation shareholder provided in section 1361(c)(1) of the Code, which was created by the American Jobs Creation Act of 2004. Taxpayers may rely on guidance described in the notice until actual guidance is issued. |
| Notice 2005-90(HTML) |
IRB #2005-51(HTML) |
December 19, 2005 |
| This notice announces that Treasury and the Service intend to exercise regulatory authority under section 901(1)(3) of the Code not to apply the credit disallowance rules of section 901(1) to foreign withholding taxes on royalties received in "ordinary course" back-to-back computer software licensing arrangements. The notice solicits comments on the exception as well as related issues under sections 901(1) and 901(k). |
| Notice 2005-89(HTML) |
IRB #2005-49(HTML) |
December 5, 2005 |
| This notice provides that the Service will not treat a hotel, motel, or other establishment that otherwise satisfies the definition of "lodging facility" under section 856(d)(9) of the Code as other than a "lodging facility" if it is used to provide temporary housing to certain persons affected by Hurricane Katrina or Hurricane Rita, provided certain recordkeeping requirements are satisfied. |
| Notice 2005-88(HTML) |
IRB #2005-48(HTML) |
November 28, 2005 |
| This notice provides procedures for corporations, electing small business corporations, and organizations required to file returns under section 6033 to seek a waiver of the requirement to electronically file Form 1120, U.S. Corporation Income Tax Return; Form 1120S, U.S. Income Tax Return for an S Corporation; Form 990, Return of Organization Exempt From Income Tax; and Form 990-PF, Return of Private Foundation or Section 4947(a)(1) Nonexempt Charitable Trust Treated as a Private Foundation. |
| Notice 2005-87(HTML) |
IRB #2005-50(HTML) |
December 12, 2005 |
| Application of regulations under section 415; plan amendments. This notice provides that when the final regulations under section 415 of the Code are published, the grandfather rule of regulations section 1.415(a)-1(g)(3) for preexisting benefits in defined benefit plans will be expanded. |
| Notice 2005-86(HTML) |
IRB #2005-49(HTML) |
December 5, 2005 |
| This notice provides guidance on the eligibility to contribute to a Health Savings Account (HSA) during the cafeteria plan grace period described in Notice 2005-42, 2005-23 I.R.B. 1204. Rev. Rul. 2004-45 and Notice 2005-42 amplified. |
| Notice 2005-85(HTML) |
IRB #2005-46(HTML) |
November 14, 2005 |
| 2006 social security contribution and benefit base; domestic employee coverage threshold. The Commissioner of the Social Security Administration has announced (1) the OASDI contribution and benefit base for remuneration paid in 2006 and self-employment income earned in taxable years beginning in 2006, and (2) the domestic employee coverage threshold amount for 2006. |
| Notice 2005-84(HTML) |
IRB #2005-46(HTML) |
November 14, 2005 |
| Minimum funding standards; disaster relief. As a result of the enactment of section 403(b) of the Katrina Emergency Tax Relief Act of 2005, the Internal Revenue Service, the Employee Benefits Security Administration of the Department of Labor, and the Pension Benefit Guaranty Corporation are providing additional disaster relief pertaining to the minimum funding standards of certain employee benefit plans. Notice 2005-60 superseded. |
| Notice 2005-83(HTML) |
IRB #2005-49(HTML) |
December 5, 2005 |
| This notice provides relief for certain health plans with non-calendar year renewal dates that otherwise qualify as high-deductible health plans (HDHPs), except that the plans provide state-mandated benefits without regard to a deductible or with a deductible below the minimum annual deductible specified in section 223(c)(2) of the Code. Notice 2004-43 amplified. |
| Notice 2005-82(HTML) |
IRB #2005-47(HTML) |
November 14, 2005 |
| In Notice 2005-82, the IRS under section 7508A of the Code extends the period for the government to take certain actions until February 28, 2005, with respect to certain taxpayers affected by Hurricane Rita. In response to Hurricane Rita, in News Release IR-2005-110 of September 26, 2005, the IRS granted relief for taxpayers affected by Hurricane Rita. News Release IR-2005-110 provided that all counties and parishes in Texas and Louisiana constitute a "covered disaster area" within the meaning of regulations section 301.7508A-1(d)(2). Further, News Release IR-2005-110 provided that taxpayers affected by the disaster will have until February 28, 2006, to file tax returns and submit payments, including, but not limited to, the October 17, 2005, deadline for individuals who received a second extension for filing their individual income tax returns. In addition, News Release IR-2005-110 provided affected taxpayers until February 28, 2006, to perform the acts listed in section 301.7508A-1(c)(1) and Rev. Proc. 2005-27, 2005-20 I.R.B. 1050. |
| Notice 2005-81(HTML) |
IRB #2005-47(HTML) |
November 14, 2005 |
| This notice provides guidance on certain excise tax provisions that were added or affected by the Energy Policy Act of 2005 and the Safe, Accountable, Flexible, Efficient Transportation Equity Act (SAFETEA). This notice also provides additional guidance relating to mechanical dye injection of diesel fuel and kerosene. Notice 2005-4 modified. |
| Notice 2005-80(HTML) |
IRB #2005-46(HTML) |
November 21, 2005 |
| This notice supplements Notice 2005-66, 2005-40 I.R.B. 620, which postponed until January 3, 2006, deadlines for the IRS to perform certain acts under section 7508A of the Code with respect to certain taxpayers affected by Hurricane Katrina. This notice (1) expands the definition of "covered disaster area" to include additional counties and parishes that the Federal Emergency Management Agency (FEMA) determined were eligible for federal assistance after the IRS issued Notice 2005-66; (2) extends the deadlines for the IRS to perform certain acts to February 28, 2006, to match the deadlines for affected taxpayers to file, pay, and perform certain acts; (3) expands the definition of affected taxpayer to match the definition of affected taxpayers in Notice 2005-73, 2005-42 I.R.B. 723; and (4) grants the IRS a postponement of time to perform an act not previously identified in Notice 2005-66 - issuing a Notice of Final Partnership Administrative Adjustment (FPAA) under section 6223. Notice 2005-66 supplemented. |
| Notice 2005-79(HTML) |
IRB #2005-46(HTML) |
November 14, 2005 |
| This notice supersedes Notice 2004-57, 2004-2 C.B. 376, while confirming that the Service will continue to assess and collect the tax under section 4251 of the Code on all taxable communications services, including communications services similar to those at issue in American Bankers Insurance Group v. United States, 408 F.3d 1328 (11th Cir. 2005), rev'g 308 F. Supp. 2d 1360 (S.D. Fla. 2004). Notice 2004-57 superseded. |
| Notice 2005-78(HTML) |
IRB #2005-46(HTML) |
November 14, 2005 |
| South Asia earthquake; designation as a qualified disaster. The South Asia earthquake that struck Pakistan, India, and Afghanistan on October 8, 2005, is designated a qualified disaster for purposes of section 139 of the Code. |
| Notice 2005-77(HTML) |
IRB #2005-46(HTML) |
November 14, 2005 |
| This notice announces that Treasury and the Service will amend the regulations under section 6012 of the Code to create a new exception to the filing requirement for nonresident alien individuals who are required to file a return under the present regulations solely because they earn wages that are effectively connected with a United States trade or business. |
| Notice 2005-76(HTML) |
IRB #2005-46(HTML) |
November 14, 2005 |
| This notice provides new rules for determining the amount of income tax employers must withhold under section 3402 of the Code from wages paid for services performed by nonresident alien employees within the United States. The notice also provides new rules for use by nonresident alien employees in completing Form W-4, Employee's Withholding Allowance Certificate. The rules are effective with respect to wages paid on or after January 1, 2006. |
| Notice 2005-75(HTML) |
IRB #2005-45(HTML) |
November 7, 2005 |
| 2006 cost-of-living adjustments; retirement plans, etc. This notice sets forth certain cost-of-living adjustments effective January 1, 2006, 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." This notice restates the data in News Release IR-2005-120 issued October 14, 2005. |
| Notice 2005-74(HTML) |
IRB #2005-42(HTML) |
October 17, 2005 |
| This notice announces that Treasury and the Internal Revenue Service (IRS) will amend the regulations under section 367(a) of the Code to clarify the application of regulations section 1.367(a)-8, including the provisions addressing the treatment of gain recognition agreements as a result of certain common asset reorganizations involving the U.S. transferor, the transferee foreign corporation, and the transferred corporation. |
| Notice 2005-73(HTML) |
IRB #2005-42(HTML) |
October 17, 2005 |
| This notice summarizes and clarifies the relief previously granted under sections 6081, 6161, 6656, and 7508A of the Code with respect to taxpayers affected by Hurricane Katrina. By news releases issued on August 30, 2005, September 2, 2005, September 8, 2005, and September 14, 2005, the IRS granted relief from filing and payment deadlines, and granted relief from the acts listed in regulations section 301.7508A-1(c)(1) and Rev. Proc. 2005-27, 2005-20 I.R.B. 1050. See IR-2005-84, IR-2005-91, IR-2005-96, and IR-2005-103. The news releases provided that taxpayers affected by the disaster will have until January 3, 2006, to file certain tax returns and submit payments. In addition, the news releases announced that the IRS will abate interest and any late filing or late payment penalties that otherwise would apply. This relief includes the September 15, 2005, due date for estimated taxes and for calendar-year corporate returns with automatic extensions. This notice summarizes the relief previously granted in the news releases. |
| Notice 2005-72(HTML) |
IRB #2005-47(HTML) |
November 21, 2005 |
| Weighted average interest rate update; corporate bond indices; 30-year Treasury securities. The weighted average interest rate for November 2005 and the resulting permissible range of interest rates used to calculate current liability and to determine the required contribution are set forth. |
| Notice 2005-71(HTML) |
IRB #2005-44(HTML) |
October 31, 2005 |
| Weighted average interest rate update; corporate bond indices; 30-year Treasury securities. The weighted average interest rate for October 2005 and the resulting permissible range of interest rates used to calculate current liability and to determine the required contribution are set forth. |
| Notice 2005-70(HTML) |
IRB #2005-41(HTML) |
October 11, 2005 |
| Section 362(e). This notice provides guidance on how to make an election under section 362(e)(2)(C) of the Code. |
| Notice 2005-69(HTML) |
IRB #2005-40(HTML) |
October 3, 2005 |
| The Service is suspending certain requirements under section 42 of the Code for low-income housing credit projects in the United States as a result of the devastation caused by Hurricane Katrina. |
| Notice 2005-68(HTML) |
IRB #2005-40(HTML) |
October 3, 2005 |
| Leave-based donation programs. This notice provides guidance to employers and employees regarding employer sponsored leave-based donation programs under which employees elect to forgo vacation, sick, or personal leave in exchange for cash payments the employer makes to organizations described in section 170(c) of the Code for the relief of victims of Hurricane Katrina. |
| Notice 2005-67(HTML) |
IRB #2005-40(HTML) |
October 3, 2005 |
| Weighted average interest rate update; corporate bond indices; 30-year Treasury securities. The weighted average interest rate for September 2005 and the resulting permissible range of interest rates used to calculate current liability and to determine the required contribution are set forth. |
| Notice 2005-66(HTML) |
IRB #2005-40(HTML) |
October 3, 2005 |
| This notice postpones the deadlines for certain acts under section 7508A of the Code performed by the IRS with respect to certain taxpayers affected by Hurricane Katrina. |
| Notice 2005-65(HTML) |
IRB #2005-39(HTML) |
September 26, 2005 |
| The Department of Homeland Security issued a temporary waiver of the Jones Act as a result of Hurricane Katrina. The waiver permits foreign corporations to operate ships in the U.S. domestic trade to transport petroleum and refined petroleum products between U.S. ports for a limited period. The notice provides that the IRS will not challenge certain positions taken by foreign corporations operating ships pursuant to the waiver and by ships’ nonresident alien crewmembers. |
| Notice 2005-64(HTML) |
IRB #2005-36(HTML) |
September 6, 2005 |
| This is the third in a series of notices, including Notice 2005-10, 2005-6 I.R.B. 474, and Notice 2005-38, 2005-22 I.R.B. 1100, providing guidance on the one time dividends received deduction (DRD) under section 965 for certain cash dividends from controlled foreign corporations that are invested in the United States. This notice provides guidance with respect to the foreign tax credit and related issues under section 965, foreign currency translation, the alternative minimum tax, and the credit for prior year minimum tax. Notice 2005-10 clarified and Notice 2005-38 modified. |
| Notice 2005-63(HTML) |
IRB #2005-35(HTML) |
August 29, 2005 |
| Weighted average interest rate update; corporate bond indices; 30-year Treasury securities. The weighted average interest rate for August 2005 and the resulting permissible range of interest rates used to calculate current liability and to determine the required contribution are set forth. |
| Notice 2005-62(HTML) |
IRB #2005-35(HTML) |
August 29, 2005 |
| This notice modifies Notice 2005-4, 2005-2 I.R.B 289, by revising the guidance relating to the Certificate for Biodiesel, which is required as a condition for claiming a credit or payment under sections 6426(c), 6427(e), and 40A of the Code. This notice also provides guidance on issues related to the credit or payment that are not addressed in Notice 2005-4. This notice further modifies Notice 2005-4 relating to the Certificate of Person Buying Aviation-Grade Kerosene for Commercial Aviation or Nontaxable Use, which is required to notify a position holder of certain transactions under sections 4081 and 4082. Notice 2005-4 modified. |
| Notice 2005-61(HTML) |
IRB #2005-39(HTML) |
September 26, 2005 |
| This notice clarifies that employers that amend their cafeteria plans to provide a grace period for dependent care assistance may continue to rely on the safe harbor in Notice 89-111, 1989-2 C.B. 449, and report salary reduction amounts elected by an employee for a calendar year on Form W-2. Notice 89-111 amplified. |
| Notice 2005-60(HTML) |
IRB #2005-39(HTML) |
September 26, 2005 |
| Minimum funding standards; disaster relief. The Internal Revenue Service, the Employee Benefits Security Administration of the Department of Labor, and the Pension Benefit Guaranty Corporation are providing relief in connection with certain employee benefit plans because of damage in Louisiana, Mississippi, and Alabama caused by Hurricane Katrina. The relief provided by this notice is in addition to the relief already provided by the Service to victims of Hurricane Katrina. |
| Notice 2005-59(HTML) |
IRB #2005-35(HTML) |
August 29, 2005 |
| This notice provides information about additional criteria that will be applied in selecting proposals for the Internal Revenue Service's Industry Issue Resolution (IIR) program regarding application of accountable plan rules to specific industries. |
| Notice 2005-58(HTML) |
IRB #2005-33(HTML) |
August 15, 2005 |
| This notice addresses certain income tax issues with respect to nonqualified deferred compensation plans maintained by federal credit unions, including whether a federal credit union can maintain an eligible nonqualified deferred compensation plan described in section 457 of the Code, and issues relating to plans in effect on publication of this notice that are intended to satisfy section 457. |
| Notice 2005-57(HTML) |
IRB #2005-32(HTML) |
August 8, 2005 |
| Tobacco quota termination payments. This notice provides guidance in a Q&A format regarding the tax treatment of payments made to eligible tobacco quota holders for the termination of tobacco marketing quotas and related price support programs under the American Jobs Creation Act of 2004. Notice 2005-51 modified and superseded. |
| Notice 2005-56(HTML) |
IRB #2005-32(HTML) |
August 8, 2005 |
| 2005 enhanced oil recovery credit. The enhanced oil recovery credit for taxable years beginning in the 2005 calendar year is determined without regard to the phase-out for crude oil price increases provided in section 43(b) of the Code. |
| Notice 2005-55(HTML) |
IRB #2005-32(HTML) |
August 8, 2005 |
| 2005 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 2005 calendar year. |
| Notice 2005-54(HTML) |
IRB #2005-30(HTML) |
July 25, 2005 |
| Weighted average interest rate update; corporate bond indices; 30-year Treasury securities. The weighted average interest rate for July 2005 and the resulting permissible range of interest rates used to calculate current liability and to determine the required contribution are set forth. |
| Notice 2005-53(HTML) |
IRB #2005-32(HTML) |
August 8, 2005 |
| This notice provides supplemental guidance for foreign banks concerning interest expense allocation. The notice also indicates that the Treasury Department and the IRS are evaluating foreign banking industry data to determine whether the 93-percent fixed ratio in step 2 of the interest expense allocation formula under regulations section 1.882-5 should be increased, and whether the fair market value election for valuing U.S. assets should require the use of the actual ratio in step 2. The notice also permits taxpayers who use the adjusted U.S. book liability method to calculate excess interest by reference to a published LIBOR rate rather than the taxpayer’s actual non-U.S.-based dollar borrowing rate. |
| Notice 2005-52(PDF, 81K) |
IRB #2005-28(HTML) |
July 11, 2005 |
| This notice provides that, in the case of bonds subject to the 1989 regulations or the 1992 regulations, rebate payments must be filed at the same place designated by the Commissioner for bonds subject to section 1.148–3 of the regulations. |
| Notice 2005-51(PDF, 67K) |
IRB #2005-28(HTML) |
July 11, 2005 |
| This notice provides guidance in a Q&A format regarding the tax treatment of payments made to eligible tobacco quota holders for the termination of tobacco marketing quotas and related price support programs under the American Jobs Creation Act of 2004. |
| Notice 2005-50(PDF, 91K) |
IRB #2005-27(HTML) |
July 5, 2005 |
| This notice provides guidance on miscellaneous issues that have arisen in the administration of the health coverage tax credit (HCTC) under section 35 of the Code. |
| Notice 2005-49(PDF, 72K) |
IRB #2005-27(HTML) |
July 5, 2005 |
| This notice requests comments on the qualification of additional arrangements as insurance, including cell captive arrangements, loan-backs of amounts paid as premiums, the relevance of homogeneity in determining whether risk has been adequately distributed, and arrangements involving finite risk. |
| Notice 2005-48(PDF, 109K) |
IRB #2005-27(HTML) |
July 5, 2005 |
| This notice solicits applications for designation of a project as a qualified green building and sustainable design project under section 142(l) of the Code. The notice also provides guidance on the requirements a project must meet in order to be eligible for designation as a qualified green building and sustainable design project. |
| Notice 2005-47(PDF, 73K) |
IRB #2005-26(HTML) |
June 27, 2005 |
| This notice provides an interim definition of state or local bond opinions under section 10.35(b)(9) of Treasury Department Circular No. 230 and provides information relating to changes to the proposed requirements for state or local bond opinions that are under consideration. |
| Notice 2005-46(PDF, 58K) |
IRB #2005-26(HTML) |
June 27, 2005 |
| The weighted average interest rate for June 2005 and the resulting permissible range of interest rates used to calculate current liability and to determine the required contribution are set forth. |
| Notice 2005-45(PDF, 185K) |
IRB #2005-24(HTML) |
June 13, 2005 |
| Deductions for entertainment use of aircraft. This notice provides interim guidance to taxpayers on the limitation under section 274(e) of the Code on the deductible amount of trade or business expenses incurred after October 22, 2004, for use of a business aircraft for entertainment. |
| Notice 2005-44(PDF, 115K) |
IRB #2005-25(HTML) |
June 20, 2005 |
| Charitable contributions of qualified vehicles. This notice provides interim guidance under section 170(f)(12) of the Code regarding the deductibility of vehicle contributions. The notice explains the new requirements applicable to the acknowledgments that donee organizations provide to vehicle donors. In addition, the notice provides guidance on the new penalties section 6720 imposes on donee organizations that provide a false or fraudulent acknowledgment of a vehicle contribution, or fail to properly furnish the acknowledgment. Sections 170(f)(12) and 6720 are effective for vehicle contributions made after December 31, 2004. |
| Notice 2005-43(PDF, 347K) |
IRB #2005-24(HTML) |
June 13, 2005 |
| This notice includes a proposed revenue procedure providing additional rules for the elective safe harbor under the proposed regulations under section 83 of the Code governing the application of section 83 to the transfer of a partnership interest in connection with the performance of services. |
| Notice 2005-42(PDF, 65K) |
IRB #2005-23(HTML) |
June 6, 2005 |
| This notice allows employers sponsoring cafeteria plans the option to amend the cafeteria plan document to provide a grace period after the end of the plan year, during which unused benefits or contributions remaining at the end of the immediately preceding plan year may be paid or reimbursed to participants for qualified benefit expenses incurred during the grace period. The grace period must not extend beyond the fifteenth day of the third calendar month following the end of the immediately preceding plan year. |
| Notice 2005-41(PDF, 54K) |
IRB #2005-23(HTML) |
June 6, 2005 |
| Charitable contributions; qualified intellectual property. This notice explains how amendments to section 170 of the Code made by the American Jobs Creation Act of 2004 limit the initial charitable contribution deduction allowable to a donor of qualified intellectual property. The notice also provides guidance on how, under the amendments, the donor may qualify for additional charitable contribution deductions based on the income received by or accrued to the donee organization with respect to the donated property. |
| Notice 2005-40(PDF, 92K) |
IRB #2005-21(HTML) |
May 23, 2005 |
| Election to defer a net experience loss; notice to Pension Benefit Guaranty Corporation; notice to plan participants and beneficiaries; notice to employers; notice to labor organizations. This notice provides guidance regarding the election that can be made for certain multiemployer plans to defer charges with respect to certain net experience losses pursuant to section 412(b)(7)(F) of the Code and section 302(b)(7)(F) of the Employee Retirement Income Security Act of 1974 (ERISA), as well as certification and notification requirements. |
| Notice 2005-39(PDF, 39K) |
IRB #2005-21(HTML) |
May 23, 2005 |
| Weighted average interest rate update; corporate bond indices; 30-year Treasury securities. The weighted average interest rate for May 2005 and the resulting permissible range of interest rates used to calculate current liability and to determine the required contribution are set forth. |
| Notice 2005-38(PDF, 280K) |
IRB #2005-22(HTML) |
May 31, 2005 |
| This document provides guidance under new section 965 of the Code generally concerning limitations described in sections 965(b)(1), (2), and (3) on the amount of dividends that a corporation that is a U.S. shareholder of a controlled foreign corporation (CFC) may treat as eligible for the dividends received deduction (DRD) under section 965(a), including the effects of certain corporate transactions on such limitations. In general, and subject to limitations and conditions, section 965(a) provides that a corporation that is a U.S. shareholder of a CFC may elect, for one taxable year, an 85 percent DRD with respect to certain cash dividends it receives from its CFCs. This document also addresses certain foreign tax credit and other consequences of elections under section 965. See also Notice 2005-10, 2005-6 I.R.B. 474, which primarily addresses requirements concerning domestic reinvestment plans described in section 965(b)(4). Notice 2005-10 modified. |
| Notice 2005-37(PDF, 39K) |
IRB #2005-20(HTML) |
May 16, 2005 |
| Renewable electricity production and refined coal production; calendar year 2005 inflation adjustment factor and reference prices. This notice announces the calendar year 2005 inflation adjustment factor and reference prices for the renewable electricity production credit and refined coal production credit under section 45 of the Code. |
| Notice 2005-36(PDF, 44K) |
IRB #2005-19(HTML) |
May 9, 2005 |
| Form 8854, Initial and Annual Expatriation Information Statement, has been revised to reflect the substantial revisions made to the individual expatriation provisions of sections 877 and 6039G of the Code and the enactment of new section 7701(n) by section 804 of the American Jobs Creation Act of 2004. Revised Form 8854 is required to be filed by every individual who loses U.S. citizenship or terminates long-term residency after June 3, 2004. The purpose of this notice is to provide guidance with respect to the filing of the revised Form 8854 by such former citizens and former long-term residents. Notices 97-19 and 98-34 obsoleted in part. |
| Notice 2005-35(PDF, 28K) |
IRB #2005-21(HTML) |
May 23, 2005 |
| Issuers of life insurance contracts that request to enter into a closing agreement with the Internal Revenue Service under Alternative B or C of Rev. Rul. 2005-6 may, in lieu of a paper submission, provide a CD-ROM diskette in read-only format listing the contracts that are the subject of the closing agreement. |
| Notice 2005-34(PDF, 47K) |
IRB #2005-17(HTML) |
April 25, 2005 |
| Weighted average interest rate update; corporate bond indices; 30-year Treasury securities. The weighted average interest rate for April 2005 and the resulting permissible range of interest rates used to calculate current liability and to determine the required contribution are set forth. |
| Notice 2005-33(PDF, 40K) |
IRB #2005-17(HTML) |
April 25, 2005 |
| Credit for sales of fuel produced from a nonconventional source, inflation adjustment factor, and reference price. This notice publishes the nonconventional source fuel credit, the inflation adjustment factor, and the reference price under section 29 of the Code for calendar year 2004. This data is used to determine the credit allowable on sales of fuel produced from a nonconventional source. |
| Notice 2005-32(PDF, 101K) |
IRB #2005-16(HTML) |
April 18, 2005 |
| This notice provides interim procedures for partnerships and their partners to comply with the mandatory basis adjustment provisions of sections 734 and 743 of the Code. This notice also provides interim procedures for electing investment partnerships and their partners to comply with sections 743(e) and 6031(f). |
| Notice 2005-31(PDF, 61K) |
IRB #2005-14(HTML) |
April 4, 2005 |
| State and local general sales tax deduction. This notice provides guidance to taxpayers who elect to deduct state and local general sales taxes in lieu of state and local income taxes under section 164(b)(5) of the Code. |
| Notice 2005-30(PDF, 86K) |
IRB #2005-14(HTML) |
April 4, 2005 |
| This notice sets out some of the most common frivolous arguments and schemes that taxpayers use to avoid their tax obligations. It also identifies civil and criminal penalties that the Service may impose against taxpayers who engage in abusive tax-avoidance schemes. Notice 2004-22 modified and superseded. |
| Notice 2005-29(PDF, 92K) |
IRB #2005-13(HTML) |
March 28, 2005 |
| Transition relief for certain partnerships and other passthru entities under section 470. This notice provides transition relief under section 470 of the Code to partnerships and other pass-thru entities that are treated as holding tax-exempt use property because of the application of section 168(h)(6). |
| Notice 2005-28(PDF, 88K) |
IRB #2005-13(HTML) |
March 28, 2005 |
| This notice extends the deadline by which state and local governments must nominate projects for designation by the Secretary as qualified green building and sustainable design projects under section 142(l) of the Code. |
| Notice 2005-27(PDF, 92K) |
IRB #2005-13(HTML) |
March 28, 2005 |
| This notice discusses the proper exchange rate to be used under the dollar approximate separate transactions method (DASTM) of regulations section 1.985-3(d) to translate certain types of assets transferred from a qualified business unit to its U.S. home office. |
| Notice 2005-26(PDF, 105K) |
IRB #2005-12(HTML) |
March 21, 2005 |
| Weighted average interest rate update; corporate bond indices; 30-year Treasury securities. The weighted average interest rate for March 2005 and the resulting permissible range of interest rates used to calculate current liability and to determine the required contribution are set forth. |
| Notice 2005-25(PDF, 55K) |
IRB #2005-14(HTML) |
April 4, 2005 |
| Public comments are requested on recommendations for items that should be included on the 2005-2006 Guidance Priority List. Taxpayers may submit recommendations for guidance at any time during the year. Recommendations submitted by April 30, 2005, will be reviewed for possible inclusion on the original 2005-2006 Guidance Priority List. Recommendations received after April 30, 2005, will be reviewed for inclusion in the next periodic update. |
| Notice 2005-24(PDF, 98K) |
IRB #2005-12(HTML) |
March 21, 2005 |
| This notice modifies Notice 2005-4, 2005-2 I.R.B. 289, by extending the transitional rule related to sales of gasoline on oil company credit cards and by making several corrections to Notice 2005-4. Notice 2005-4 provides guidance on certain excise tax provisions in the Code that were added or affected by the American Jobs Creation Act of 2004, Pub. L. 108-357. Notice 2005-4 modified. |
| Notice 2005-23(PDF, 75K) |
IRB #2005-11(HTML) |
March 14, 2005 |
| This notice designates the Indian Ocean tsunamis occurring on December 26, 2004, as a qualified disaster for purposes of section 139 of the Code, and describes the affected areas. |
| Notice 2005-22(PDF, 88K) |
IRB #2005-12(HTML) |
March 21, 2005 |
| This notice clarifies and modifies Notice 2004-80 to provide additional guidance for material advisors who are required to comply with sections 6111 and 6112 of the Code, as amended, and to grant an extension of time for material advisors to comply with the new filing requirements under section 6111 as previously provided in Notice 2004-80 and Notice 2005-17. Notices 2004-80 and 2005-17 clarified and modified. |
| Notice 2005-21(PDF, 131K) |
IRB #2005-11(HTML) |
March 14, 2005 |
| Sections 936 and 30A of the Code provide, subject to certain limitations and conditions, special tax credits for taxable income of a domestic corporation derived from the active conduct of a trade or business in a possession of the United States. Pursuant to sections 936(j) and 30A(h), the tax credits provided by sections 936 and 30A will not be allowed for taxable years beginning after December 31, 2005. This notice provides guidance, based on existing provisions of the Code and Treasury regulations, with respect to issues that are likely to arise in connection with the termination of sections 936 and 30A. |
| Notice 2005-20(PDF, 102K) |
IRB #2005-9(HTML) |
February 28, 2005 |
| This notice addresses several questions of statutory interpretation arising under section 172(f)(1)(B) of the Code prior to its amendment by section 3004(a) of the Tax and Trade Relief Extension Act of 1998. |
| Notice 2005-19(PDF, 83K) |
IRB #2005-9(HTML) |
February 28, 2005 |
| Weighted average interest rate update; corporate bond indices; 30-year Treasury securities. The weighted average interest rate for February 2005 and the resulting permissible range of interest rates used to calculate current liability and to determine the required contribution are set forth. |
| Notice 2005-18(PDF, 67K) |
IRB #2005-9(HTML) |
February 28, 2005 |
| The differential earnings rate for 2004 is tentatively determined for use by mutual life insurance companies to compute their income tax liability for 2004. |
| Notice 2005-17(PDF, 40K) |
IRB #2005-8(HTML) |
February 22, 2005 |
| This notice grants an extension of time of the transitional relief provided in Notice 2004-80, 2004-50 I.R.B. 963, for material advisors to comply with the new filing requirements under section 6111. Notice 2004-80 updated. |
| Notice 2005-16(PDF, 239K) |
IRB #2005-8(HTML) |
February 22, 2005 |
| Low-income housing tax credit; private activity bonds. Resident populations of the 50 states, the District of Columbia, Puerto Rico, and the insular areas are provided for purposes of determining the 2005 calendar year (1) state housing credit ceiling under section 42(h) of the Code, (2) private activity bond volume cap under section 146, and (3) private activity bond volume limit under section 142(k)(5). |
| Notice 2005-15(PDF, 49K) |
IRB #2005-7(HTML) |
February 14, 2005 |
| This notice provides that the Treasury Department and the Service intend to issue regulations involving partnerships under sections 704(c)(1)(B) and 737 of the Code implementing the principles of Rev. Rul. 2004-43, and that the regulations will be effective for distributions occurring after the date on which the notice is released to the public. |
| Notice 2005-14(PDF, 318K) |
IRB #2005-7(HTML) |
February 14, 2005 |
| Income attributable to domestic production activities. This notice provides interim guidance to taxpayers regarding the deduction for income attributable to domestic production activities under section 199 of the Code. Section 199 was enacted as part of the American Jobs Creation Act of 2004, and allows a deduction equal to 3 percent (for 2005 and 2006) of the lesser of the qualified production activities income of the taxpayer for the taxable year, or the taxable income of the taxpayer for the taxable year, subject to certain limits. The applicable percentage rises to 6 percent for 2007, 2008, and 2009, and 9 percent for 2010 and subsequent years. |
| Notice 2005-13(PDF, 99K) |
IRB #2005-9(HTML) |
February 28, 2005 |
| Tax-exempt leasing involving defeasance. This notice disallows tax benefits claimed by taxpayers who enter into sale-in, lease-out (SILO) transactions and identifies SILOs as listed transactions. |
| Notice 2005-12(PDF, 65K) |
IRB #2005-7(HTML) |
February 14, 2005 |
| This notice provides interim guidance relating to section 6662A of the Code, Imposition of accuracy-related penalty on understatements with respect to reportable transactions, section 6662, Imposition of accuracy-related penalty on underpayments, and section 6664, Definitions and special rules. |
| Notice 2005-11(PDF, 50K) |
IRB #2005-7(HTML) |
February 14, 2005 |
| This notice provides interim guidance relating to section 6707A of the Code, Penalty for failure to include reportable transaction information with return, as added by the American Jobs Creation Act of 2004. This notice states that a taxpayer may incur a penalty under section 6707A with respect to each failure to disclose a reportable transaction within the time, and in the form and manner, provided by section 6011 and its regulations. |
| Notice 2005-10(PDF, 131K) |
IRB #2005-6(HTML) |
February 7, 2005 |
| This document provides guidance under new section 965 of the Code enacted by the American Jobs Creation Act of 2004. In general, and subject to limitations and conditions, section 965(a) provides that a corporation that is a U.S. shareholder of a controlled foreign corporation (CFC) may elect, for one taxable year, an 85 percent dividends received deduction (DRD) with respect to certain cash dividends it receives from its CFCs. Section 965(f) provides that taxpayers may elect the application of section 965 for either the taxpayer’s last taxable year which begins before October 22, 2004, or the taxpayer’s first taxable year which begins during the one-year period beginning on October 22, 2004. |
| Notice 2005-9(PDF, 79K) |
IRB #2005-4(HTML) |
January 24, 2005 |
| Weighted average interest rate update; corporate bond indices; 30-year Treasury securities. The weighted average interest rate for January 2005 and the resulting permissible range of interest rates used to calculate current liability and to determine the required contribution are set forth. |
| Notice 2005-8(PDF, 64K) |
IRB #2005-4(HTML) |
January 24, 2005 |
| This notice states that a partnership’s contributions to a partner’s Health Savings Account (HSA) may be treated as distributions under section 731 of the Code or as guaranteed payments under section 707(c). HSA contributions treated as section 731 distributions are not deductible by the partnership, and may be deductible by the partner under sections 223(a) and 62(a)(19) and are excluded from net earnings from self-employment. HSA contributions treated as guaranteed payments under section 707(c) derived from the partnership’s trade or business and for services rendered to the partnership may be deductible by the partnership, are included in the partner’s gross income, may be deductible by the partner under sections 223(a) and 62(a)(19), and are included in net earnings from self-employment. An S corporation’s contributions to 2-percent shareholder-employee’s HSA for services rendered to the S corporation are treated as section 707(c) guaranteed payments. For employment tax purposes, the 2-percent shareholder-employee is treated as an employee subject to FICA, unless the requirements of section 3121(a)(2)(B) are met. |
| Notice 2005-7(PDF, 89K) |
IRB #2005-3(HTML) |
January 18, 2005 |
| This notice addresses the applicability of section 6043A of the Code and requests public comments on issues relating to information reporting for acquisitions under section 6043A by March 1, 2005. The notice provides that taxpayers required to report under regulations sections 1.6043-4T and 1.6045-3T must continue to report pursuant to those regulations. |
| Notice 2005-6(PDF, 48K) |
IRB #2005-5(HTML) |
January 31, 2005 |
| This notice announces that the Treasury Department and the Service will issue regulations providing that certain exchanges described in section 354 of the Code by a U.S. person involving securities of a foreign or domestic corporation will not be subject to section 367(a). |
| Notice 2005-5(PDF, 113K) |
IRB #2005-3(HTML) |
January 18, 2005 |
| Automatic rollover; section 657 of Economic Growth Tax Relief and Reconciliation Act of 2001. This notice provides guidance in question and answer format on the automatic rollover provisions of section 401(a)(31)(B) of the Code as amended by section 657 of the Economic Growth and Tax Relief Reconciliation Act of 2001. |
| Notice 2005-4(PDF, 164K) |
IRB #2005-2(HTML) |
January 10, 2005 |
| This notice provides guidance on certain excise tax provisions in section 4081 of the Code that were added or affected by the American Jobs Creation Act of 2004. These provisions relate to alcohol and biodiesel fuels, the definition of off-highway vehicles, aviation-grade kerosene, claims related to diesel fuel used in certain buses, the display of registration on certain vessels, claims related to sales of gasoline to state and local governments and nonprofit educational organizations, two party exchanges of taxable fuel, and the classification of transmix and certain diesel fuel blendstocks as diesel fuel. Also, this notice requests comments from the public on these provisions, as well as other excise tax provisions, that were added or affected by the Act. Notices 88-30, 88-132, 89-29, and 89-38 obsoleted. |
| Notice 2005-3(PDF, 54K) |
IRB #2005-5(HTML) |
January 31, 2005 |
| Presidentially declared disasters. This notice advises taxpayers that Rev. Proc. 2004-13, 2004-4 I.R.B. 335, will be modified retroactively to provide additional tax relief to taxpayers (transferors) involved in section 1031 like-kind exchange transactions affected by a Presidentially declared disaster (including Hurricanes Charley, Frances, Ivan, and Jeanne, and Tropical Storm Bonnie), terroristic or military action, or service in a combat zone or contingency operation. Rev. Proc. 2004-13 modified. |
| Notice 2005-2(PDF, 95K) |
IRB #2005-3(HTML) |
January 18, 2005 |
| This notice provides guidance to qualifying vessel operators on the procedure for electing into the tonnage tax regime under section 1354(a) of the Code, which was added by section 248 of the American Jobs Creation Act of 2004. |
| Notice 2005-1(PDF, 199K) |
IRB #2005-2(HTML) |
January 10, 2005 |
| This notice provides general and transitional guidance relating to new section 409A of the Code, added as part of the American Jobs Creation Act of 2004. Section 409A provides certain rules relating to nonqualified deferred compensation plans, which generally are effective as of January 1, 2005. This notice provides general guidance with respect to what arrangements are covered by section 409A. In addition, this notice provides transitional guidance generally covering the calendar year 2005. |
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