Civil Penalties Under ERISA Section 502(c)(4), 2373 [Z8-31188]
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Federal Register / Vol. 74, No. 10 / Thursday, January 15, 2009 / Rules and Regulations
October 15, 2009, the extended due date to
file A’s 2008 Form 1040, falls within the
postponement period described in the IRS’s
published guidance, A’s return is timely if
filed on or before December 2, 2009.
However, the payment due date, April 15,
2009, preceded the postponement period.
Thus, A will continue to be subject to failure
to pay penalties and accrual of interest
during the postponement period.
Example 7. (i) H and W, individual
calendar year taxpayers, intend to file a joint
Form 1040 for the 2008 taxable year. The
joint return is due on April 15, 2009. After
credits for taxes withheld on wages and
estimated tax payments, H and W owe tax for
the 2008 taxable year. H and W’s principal
residence is in County J in State W.
(ii) On March 3, 2009, severe flooding
strikes County J. On March 6, 2009, certain
counties in State W (including County J) are
determined to be disaster areas within the
meaning of section 1033(h)(3) that are
eligible for assistance by the Federal
government under the Stafford Act. Also on
March 6, 2009, the IRS determines that
County J in State W is a covered disaster area
and publishes guidance announcing that the
time period for affected taxpayers to file
returns, pay taxes, and perform other timesensitive acts falling on or after March 3,
2009, and on or before June 1, 2009, has been
postponed to June 1, 2009.
(iii) Because H and W’s principal residence
is in County J, H and W are affected
taxpayers. April 15, 2009, the due date for
filing the 2008 joint return, falls within the
postponement period described in the IRS
published guidance. Therefore, H and W’s
joint return without extension will be timely
if filed on or before June 1, 2009. Similarly,
H and W’s 2008 income taxes will be timely
paid if paid on or before June 1, 2009.
(iv) On April 30, 2009, H and W timely file
Form 4868, ‘‘Application for Automatic
Extension of Time to File U.S. Individual
Income Tax Return.’’ H and W’s extension
will be deemed to have been filed on April
15, 2009. Thus, H and W’s 2008 income tax
return will be timely if filed on or before
October 15, 2009.
(v) H and W did not request or receive an
extension of time to pay. Therefore, the
payment of tax due with the 2008 joint return
will be timely if paid on or before June 1,
2009. If H and W fail to pay the tax due on
the 2008 joint return by June 1, 2009, H and
W will be subject to failure to pay penalties
and accrual of interest beginning on June 2,
2009.
Example 8. The facts are the same as in
Example 7 except that H and W file the joint
2008 return and pay the tax due on April 15,
2009. Later, H and W discover additional
deductions that would lower their taxable
income for 2008. On June 1, 2012, H and W
file a claim for refund under section 6511(a).
The amount of H and W’s overpayment
exceeds the amount of taxes paid on April
15, 2009. Section 6511(a) generally requires
that a claim for refund be filed within three
years from the time the return was filed or
two years from the time the tax was paid,
whichever period expires later. Section
6511(b)(2)(A) includes within the lookback
period the period of an extension of time to
VerDate Nov<24>2008
20:50 Jan 14, 2009
Jkt 217001
file. Thus, payments that H and W made on
or after June 1, 2009 would be eligible to be
refunded. Because the period from April 15,
2009 to June 1, 2009 is disregarded, the
payments H and W made on April 15, 2009
(including withholding or estimated tax
payments deemed to have been made on
April 15, 2009) would also be included in the
section 6511(b)(2)(A) lookback period. Thus,
H and W are entitled to a full refund in the
amount of their overpayment.
Example 9. (i) H and W, individual
calendar year taxpayers, entered into an
installment agreement with respect to their
2006 tax liabilities. H and W’s installment
agreement required H and W to make
regularly scheduled installment payments on
the 15th day of the month for the next 60
months. H and W’s principal residence is in
County K in State X.
(ii) On May 1, 2009, severe flooding strikes
County K. On May 5, 2009, certain counties
in State X including County K) are
determined by the Federal government to be
disaster areas within the meaning of section
1033(h)(3), and are eligible for assistance
under the Stafford Act. Also on May 5, 2009,
the IRS determines that County K in State X
is a covered disaster area and publishes
guidance announcing that the time period for
affected taxpayers to file returns, pay taxes,
and perform other time-sensitive acts falling
on or after May 1, 2009 and on or before July
1, 2009, has been postponed to July 1, 2009.
(iii) Because H and W’s principal residence
is in County K, H and W are affected
taxpayers. Pursuant to the IRS’s grant of relief
under section 7508A, H and W’s installment
agreement payments that become due during
the postponement period are suspended until
after the postponement period has ended. H
and W will be required to resume payments
no later than August 15, 2009. Skipped
payments will be tacked on at the end of the
installment payment period. Because the
installment agreement pertains to prior year
tax liabilities, interest and penalties will
continue to accrue. H and W may, however,
be entitled to abatement of the failure to pay
penalties incurred during the postponement
period upon establishing reasonable cause.
(g) Effective/applicability date. This
section applies to disasters declared
after January 15, 2009.
Linda E. Stiff,
Deputy Commissioner for Services and
Enforcement.
Approved: January 6, 2009.
Eric Solomon,
Assistant Secretary of the Treasury (Tax
Policy).
[FR Doc. E9–767 Filed 1–14–09; 8:45 am]
BILLING CODE 4830–01–P
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DEPARTMENT OF LABOR
Employee Benefits Security
Administration
29 CFR Part 2560
RIN 1210–AB24
Civil Penalties Under ERISA Section
502(c)(4)
Correction
In rule document Z8–31188 beginning
on page 17 in the issue of Friday,
January 2, 2009 make the following
correction:
On page 17, in the second column, in
the DATES heading, March 3, 2008
should read March 3, 2009.
[FR Doc. Z8–31188 Filed 1–14–09; 8:45 am]
BILLING CODE 1505–01–D
DEPARTMENT OF HOMELAND
SECURITY
Coast Guard
33 CFR Part 165
[Docket No. USCG–2008–1236]
RIN 1625–AA87
Security Zone; Steam Generator
Transit, Captain of the Port Zone San
Diego; San Diego, CA
Coast Guard, DHS.
Temporary final rule.
AGENCY:
ACTION:
SUMMARY: The Coast Guard is
establishing a temporary moving
security zone around steam generators
as they transit through and when
moored in the Captain of the
Port(COTP) zone San Diego. This
security zone is needed to prevent
vessels from transiting in the vicinity of
the generators to help ensure the safety
and security of the operation. Entry into
this zone will be prohibited unless
specifically authorized by the Captain of
the Port, San Diego, or his designated
representative.
DATES: This rule is effective from 11:59
p.m. on January 2, 2009, to 11:59 p.m
on January 22, 2009.
ADDRESSES: Documents indicated in this
preamble as being available in the
docket are part of docket USCG–2008–
1236 and are available online at https://
www.regulations.gov. They are also
available for inspection or copying two
locations: the Docket Management
Facility (M–30), U.S. Department of
Transportation, West Building Ground
Floor, Room W12–140, 1200 New Jersey
Avenue, SE., Washington, DC 20590,
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[Federal Register Volume 74, Number 10 (Thursday, January 15, 2009)]
[Rules and Regulations]
[Page 2373]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: Z8-31188]
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DEPARTMENT OF LABOR
Employee Benefits Security Administration
29 CFR Part 2560
RIN 1210-AB24
Civil Penalties Under ERISA Section 502(c)(4)
Correction
In rule document Z8-31188 beginning on page 17 in the issue of
Friday, January 2, 2009 make the following correction:
On page 17, in the second column, in the DATES heading, March 3,
2008 should read March 3, 2009.
[FR Doc. Z8-31188 Filed 1-14-09; 8:45 am]
BILLING CODE 1505-01-D
