2007 Notices Issued in IRS's Weekly Internal Revenue Bulletin

A "Notice" is a public pronouncement that may contain guidance that involves substantive interpretations of the Code or other provisions of law. For example, "notices" can be used to relate what regulations will say in situations where the regulations may not be published in the immediate future.

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	Bulletin	Date of IRB

Notice 2007-08(HTML)	IRB #2007-03(HTML)	January 16, 2007
In-Service Benefits Permitted to be Provided at Age 62 by a Pension Plan
In-service distributions; section 905 of Pension Protection Act of 2006; request for comments. This notice states that the Treasury Department and the Service are considering proposing guidance under section 401(a)(36) of the Code, as added by section 905 of the Pension Protection Act of 2006. This notice requests comments on issues presented by section 401(a)(36) with respect to defined benefit plans.
Notice 2007-06(HTML)	IRB #2007-03(HTML)	January 16, 2007
Cash Balance and Other Hybrid Defined Benefit Pension Plans
Cash balance defined benefit pension plans; transition rules; request for comments. This notice announces that the Service is beginning to process determination letter and examination cases that were suspended relating to cash balance and other hybrid defined pension plans. The notice also provides transitional guidance on the requirements of sections 411(a)(13) and 411(b)(5) of the Code as added by section 701(b) of the Pension Protection Act of 2006. In addition, this notice requests comments on certain issues raised by sections 411(a)(13) and 411(b)(5).
Notice 2007-05(HTML)	IRB #2007-03(HTML)	January 16, 2007
This Notice Clarifies and Modifies Certain Provisions of the Temporary and Proposed Regulations Under Section 482 of the Code Relating to Controlled Services Transactions, and Section 6662 of the Code Relating to Transfer Pricing Documentation Penalties
This notice partially modifies the effective date and provides other clarifications of the section 482 temporary services regulations which were published in the Federal Register on August 4, 2006. Rev. Proc. 2007-13 is issued contemporaneously with this notice.
Notice 2007-04(HTML)	IRB #2007-02(HTML)	January 8, 2007
Transition Relief for Certain Partnerships and Other Pass-Thru Entities Under § 470
Extension of transition relief for certain partnerships and other pass-thru entities under section 470. This notice extends to taxable years that begin before January 1, 2007, the transition relief under section 470 of the Code provided under Notice 2005-29, 2005-1 C.B. 796, and Notice 2006-2, 2006-2 I.R.B. 278, to partnerships and certain other passthru entities that are treated as holding tax-exempt use property because of the application of section 168(h)(6). Notices 2005-29 and 2006-2 modified and superseded.
Notice 2007-03(HTML)	IRB #2007-02(HTML)	January 8, 2007
2006 Cumulative List of Changes in Plan Qualification Requirements
Retirement plans; qualification, list of changes. This notice sets forth a list of changes referred to in Rev. Proc. 2005-66, 2005-2 C.B. 509, pertaining to the statutory, regulatory, and guidance changes needed for certain requests to the Service.
Notice 2007-02(HTML)	IRB #2007-02(HTML)	January 8, 2007
Amounts Received Under Accident and Health Plans
This notice provides transition relief for the use of debit cards for medical expense reimbursements at certain merchants with non-health care related merchant category codes (MCC) and addresses the use of debit cards for medical expense reimbursements at stores with the Drug Stores and Pharmacies MCC. Rev. Rul. 2003-43 modified.
Notice 2007-01(HTML)	IRB #2007-02(HTML)	January 8, 2007
T.D. 9281 Effective Date
This notice permits foreign corporations engaged, or treated as engaged, in a trade or business within the United States whose tax year end is on or after September 30, 2005, and whose original tax return due date (including extensions) was on or after June 15, 2006, and on or before August 17, 2006, to elect to apply the provisions of T.D. 9281, 2006-39 I.R.B. 517, for such tax return filing period. Such taxpayers may adopt the rules provided in T.D. 9281 only if the rules are adopted in their entirety on an amended return filed within 180 days of December 18, 2006.

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