Extension of Time for Filing Returns, 36996-37000 [2011-15902]
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Federal Register / Vol. 76, No. 122 / Friday, June 24, 2011 / Rules and Regulations
FOR FURTHER INFORMATION CONTACT:
DEPARTMENT OF THE TREASURY
Gregory A. Spring, (202) 435–5265 (not
a toll-free number).
Internal Revenue Service
SUPPLEMENTARY INFORMATION:
26 CFR Part 1
Background
[TD 9529]
The temporary regulations that are the
subject of this correction are under
section 6038A of the Internal Revenue
Code.
RIN 1545–BK01
As published, temporary regulations
(TD 9529) contain errors that may prove
to be misleading and are in need of
clarification.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and
recordkeeping requirements.
Correction of Publication
Accordingly, 26 CFR part 1 is
corrected by making the following
correcting amendments:
PART 1—INCOME TAXES
Paragraph 1. The authority citation
for part 1 continues to read in part as
follows:
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Par. 2. Section 1.6038A–1T is
amended by adding paragraph (o) to
read as follows:
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§ 1.6038A–1T General requirements and
definitions (temporary).
*
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(o) Expiration date. The applicability
of this section expires on June 10, 2014.
*
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Par. 3. Section 1.6038A–2T is
amended by adding paragraph (i) to read
as follows:
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Requirement of return
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(i) Expiration date. The applicability
of this section expires on June 10, 2014.
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*
LaNita Van Dyke,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel (Procedure and Administration).
[FR Doc. 2011–15943 Filed 6–23–11; 8:45 am]
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This document contains
corrections to temporary regulations (TD
9529) that were published in the
Federal Register on Friday, June 10,
2011 (76 FR 33997) removing the
duplicate filing requirement for Form
5472, ‘‘Information Return of a 25%
Foreign-Owned U.S. corporation or a
Foreign Corporation Engaged in a U.S.
Trade or Business.’’
DATES: This correction is effective on
June 24, 2011, and is applicable on June
10, 2011.
FOR FURTHER INFORMATION CONTACT:
Gregory A. Spring, (202) 435–5265 (not
a toll-free number).
SUPPLEMENTARY INFORMATION:
SUMMARY:
Background
The temporary regulations that are the
subject of this correction are under
section 6038A of the Internal Revenue
Code.
Authority: 26 U.S.C. 7805 * * *
VerDate Mar<15>2010
Internal Revenue Service (IRS),
Treasury.
ACTION: Correction to temporary
regulations.
AGENCY:
Need for Correction
§ 1.6038A–2T
(temporary).
Requirements for Taxpayers Filing
Form 5472; Correction
Need for Correction
As published, temporary regulations
(TD 9529) contain errors that may prove
to be misleading and are in need of
clarification.
Correction of Publication
Accordingly, the publication of the
temporary regulations (TD 9529) which
were the subject of FR Doc. 2011–14468
is corrected as follows:
1. On page 33998, column 3, in the
preamble, under the paragraph heading
‘‘Special Analyses’’, the last paragraph
of the column, first and second lines,
the language ‘‘It has been determined
that this temporary regulation is not a
significant’’ is corrected to read ‘‘It has
been determined that these temporary
regulations are not a significant’’.
2. On page 33999, column 1, in the
preamble, under the paragraph heading
‘‘Special Analyses’’, the first paragraph
of the column, third and fourth lines,
the language ‘‘section 7805(f) of the
Code, this regulation has been
submitted to the’’ is corrected to read
‘‘section 7805(f) of the Code, these
regulations have been submitted to the’’.
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3. On page 33999, column 1, in the
preamble, under the paragraph heading
‘‘Drafting Information’’, sixth line of the
paragraph, the language ‘‘Department
participated in its’’ is corrected to read
‘‘Department participated in their’’.
LaNita Van Dyke,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel (Procedure and Administration).
[FR Doc. 2011–15946 Filed 6–23–11; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Parts 1 and 54
[TD 9531]
RIN 1545–BH88
Extension of Time for Filing Returns
Internal Revenue Service (IRS),
Treasury.
ACTION: Final and removal temporary
regulations
AGENCY:
This document contains final
regulations relating to the automatic
extensions of time to file returns for
partnership, trust, and estate taxpayers,
and automatic extensions of time for
filing returns for pension excise taxes.
The objective of these final regulations
is to reduce overall taxpayer burden by
providing an extension period that
strikes the most reasonable balance for
these pass-through entities and the large
number of taxpayers who require
information from these entities for
completion of their income tax returns.
DATES: Effective Date: These regulations
are effective on June 24, 2011.
Applicability Date: For dates of
applicability of these regulations, see
§§ 1.6081–2(h), 1.6081–6(g), and
54.6081–1(f).
FOR FURTHER INFORMATION CONTACT:
Jason Bremer, (202) 622–4910 (not a
toll-free number).
SUPPLEMENTARY INFORMATION:
SUMMARY:
Background
This document contains amendments
to 26 CFR parts 1 and 54 under section
6081 of the Internal Revenue Code
(Code). On November 8, 2005, the
Treasury Department and the IRS
published a notice of proposed
rulemaking (REG–144898–04) by crossreference to temporary regulations (TD
9229) in the Federal Register (70 FR
67356, 70 FR 67397) relating to the
simplification of procedures for
obtaining automatic extensions of time
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to file certain returns. On July 1, 2008,
the Treasury Department and the IRS
published final and temporary
regulations (TD 9407) in the Federal
Register (73 FR 37362) finalizing the
rules simplifying the procedures for
obtaining automatic extensions of time
to file certain returns. A notice of
proposed rulemaking (REG–115457–08)
cross-referencing the temporary
regulations also was published in the
Federal Register (73 FR 37389) on July
1, 2008. The temporary and proposed
regulations reduced the automatic sixmonth extension of time to file
contained in the 2005 proposed
regulations to five months for certain
pass-through entities (most
partnerships, estates, and certain trusts).
As these pass-through entities were
previously allowed to obtain an
automatic six-month extension of time
to file certain returns, the Treasury
Department and the IRS requested
comments on whether, and how, a fivemonth extension of time to file for these
pass-through entities might increase or
reduce overall taxpayer burden.
Approximately 70 comments were
received in response to the notice of
proposed rulemaking. A public hearing
was held on January 13, 2009. Three
speakers appeared at the public hearing
and commented on the notice of
proposed rulemaking.
All comments were considered and
are available for public inspection at
https://www.regulations.gov or upon
request. After consideration of the
written comments and the comments
provided at the public hearing, the
proposed regulations under section
6081 are adopted as revised by this
Treasury decision. The public
comments, public hearing, and the
revisions are discussed in this preamble.
Explanation and Summary of
Comments
Prior to issuance of the 2005
temporary regulations, TD 9229, passthrough entities were entitled to an
automatic three-month extension of
time to file certain returns by filing one
form, and could also request a
discretionary additional three-month
extension of time to file by filing a
second form. TD 9229 provided
temporary regulations that simplified
the extension process by allowing most
taxpayers, including pass-through
entities, to obtain a six-month automatic
extension of time to file by filing one
single form. In the 2008 final and
temporary regulations, TD 9407, the
Treasury Department and the IRS
finalized rules granting an automatic
six-month extension of time to file for
non pass-through entities and granting
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certain pass-through entities a fivemonth automatic extension of time to
file certain returns. The five-month
extension included in the 2008 final and
temporary regulations for certain passthrough entities responded to comments
received on the 2005 temporary
regulations. Commentators expressed
concern that an automatic six-month
extension for pass-through entities
would unduly burden individual and
corporate taxpayers with ownership
interests in pass-through entities
because individual and corporate
taxpayers might not receive information
returns from pass-through entities in
sufficient time to complete their income
tax returns in an accurate and timely
manner.
Partnership, Trust, and Estate
Taxpayers
Recognizing the inherent conflict
between providing sufficient time for
pass-through entities to prepare returns
and ensuring that the owners and
beneficiaries of pass-through entities
timely receive information returns
needed to file their own returns, the
2008 proposed and temporary
regulations specifically requested
comments on whether a shorter filing
extension period for pass-through
entities might increase or reduce overall
taxpayer burden. The IRS received
approximately 70 comments, many of
which are summarized in this preamble.
Several commentators suggested that
the Treasury Department and the IRS
should consider changing the filing and
extension due dates for individual and
corporate tax returns rather than
shortening the extension period for
pass-through entities. For example,
some commentators suggested moving
the individual taxpayer return due date
to April 30th, or allowing individuals
and corporations a seven-month
extension of time to file returns. Other
commentators suggested moving up the
filing date for partnership, trust, and
estate taxpayers to March 15th, thereby
allowing these entities a full six-month
extension of time to file until September
15th so that individual taxpayers with
ownership interests in the entities
would receive information timely.
These suggestions are not viable
options for a regulation project because
the due dates for filing tax returns are
determined by statute. See, for example,
sections 6012(a) and 6072. Further,
section 6081 provides that, except in the
case of taxpayers who are abroad, the
maximum extension of time to file a tax
return cannot exceed six months.
Accordingly, without legislative action,
the Treasury Department and the IRS
cannot change the due date for filing tax
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36997
returns or increase the maximum
extension of time to file a tax return for
pass-through entities, individuals, or
corporations.
Although the comments with regard
to shortening the automatic extension
period for these pass-through entities
varied as to time periods, the majority
of commentators agreed that a less than
six-month extension period for passthrough entities would generally reduce
overall taxpayer burden by allowing
taxpayers with ownership interests in
pass-through entities to receive
information in a more timely fashion
`
vis-a-vis preparation of their own
individual or corporate income tax
returns. There was no clear consensus,
however, regarding what the optimal
period of extension would be for
reducing taxpayer burden.
The Treasury Department and the IRS
considered several extension periods for
pass-through entities, including a fourmonth and a five-month extension
period, when drafting the proposed and
temporary regulations. The Treasury
Department and the IRS ultimately
decided upon a five-month automatic
extension period for the proposed and
temporary regulations. Many comments
were received supporting the fivemonth extension period. Some
commentators noted, however, that the
five-month extension period would not
alleviate the burden on corporate
taxpayers with ownership interests in
pass-through entities. These
commentators expressed a concern that
even a five-month extension period for
these entities would, in most cases,
simply align the extended due date for
pass-through entities with the extended
due date for corporate returns, resulting
in the same delay of information to
corporate owners of these entities. That
delay, the commentators contend,
would greatly increase the need for
filing amended returns. Commentators
suggested shortening the automatic
extension for these entities to less than
five months.
In opting for the five-month
extension, the Treasury Department and
the IRS recognize that some
corporations with ownership interests
in pass-through entities may continue to
experience delayed receipt of
information needed to complete their
own corporate returns. The Treasury
Department and the IRS, however,
continue to believe that a five-month
extension period reduces the overall
burden on taxpayers and strikes the
most reasonable balance for all affected
taxpayers. The five-month extension
period allows pass-through entities,
including complex and tiered entities,
an adequate time for preparation of the
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required pass-through returns and also
ensures the timely and accurate
dissemination of information to a large
number of taxpayers who require that
information for completion of their own
income tax returns.
Electing large partnerships required to
file Form 1065–B, ‘‘U.S. Return of
Income for Electing Large Partnerships,’’
for any taxable year will be allowed an
automatic six-month extension of time
to file the return, however, because
these pass-through entities are
statutorily required to furnish Schedules
K–1 by March 15, regardless of any
extension of time to file the return. See
section 6031(b).
Comments varied in response to the
five-month automatic filing extension
period provided for trust taxpayers.
Several commentators expressed
support of the overall five-month
extension to pass-through entities. Other
commentators suggested that trusts
resemble an end taxpayer more than a
pass-through entity, and in that respect
are more akin to individuals than to
partnerships. These commentators
argued that trusts did not belong in the
same class of entities as partnerships
and estates for purposes of automatic
filing extensions.
Some commentators further expressed
concern that Schedules K–1 would not
be received by trusts in a sufficiently
timely fashion. For example,
commenters noted that trusts are often
invested in partnerships, which are
often invested in other partnerships in
tiered structures, with each entity
relying on the next for information
before preparing their own statements.
These commenters feared that, due to
the compressed timeframe when Forms
1065, ‘‘U.S. Return of Partnership
Income,’’ will typically be prepared,
Schedules K–1 received by each
succeeding entity in the chain
ultimately will be received by trusts at
the very last minute, resulting in
inaccuracies and increased preparer
burden.
Commentators also pointed out that
the five-month extended deadline for
trusts would coincide with the extended
due date for S Corporation tax returns.
Due to the fact that many trusts are
invested in S Corporations, these
commentators viewed this as an
increased burden on trusts and their
return preparers.
The Treasury Department and the IRS
recognize that only allowing a fivemonth extension of time to file for trusts
may cause a hardship, as some trusts
may have less time to complete accurate
income tax returns and to provide
timely information to the trust’s
beneficiaries. Providing a longer
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extension of time to file, however, still
presents the potential of shifting the
burden to individuals who might not
receive timely information. In addition,
the Treasury Department and the IRS
believe that the five-month automatic
filing extension period has generally
been successful and continues to strike
the right balance in reducing overall
taxpayer burden since the proposed and
temporary regulations were adopted.
Therefore, after thorough
consideration of all the comments, the
Treasury Department and the IRS
determined that the five-month
extension period best reduces overall
tax burden. Accordingly, these final
regulations provide that trusts will
continue to receive an automatic five
month extension of time to file as
provided in the proposed and temporary
regulations.
Finally, a comment questioned
whether the five-month automatic
extension of time to file estate or trust
income tax returns applies to
individuals filing bankruptcy petitions
under chapter 7 or 11 of title 11 of the
United States Code. The bankruptcy
estate created when a petition is filed by
an individual under either chapter 7 or
11 is a separate taxable entity for title
26 purposes. See 26 U.S.C. 1398.
Although fiduciaries of these individual
bankruptcy estates (trustees or debtorsin-possession) may be required to file
Forms 1041, the bankruptcy estates are
not pass-through entities as described in
these regulations. Therefore, the fivemonth automatic extension provided by
these regulations is inapplicable to
bankruptcy estates of individuals under
chapter 7 or 11 of title 11 of the
Bankruptcy Code.
Pass-through entities eligible to file
bankruptcy petitions, such as
partnerships, would be affected by these
regulations. A separate taxable entity is
not created when a partnership files a
bankruptcy case. See generally 26 U.S.C.
§ 1399. The trustee or debtor-inpossession of the bankrupt partnership
files a Form 1065, not a Form 1041.
Thus, the five-month automatic
extension provided in these regulations
would apply, as the filing of a
bankruptcy petition does not change the
information reporting requirements of
pass-through entities, such as a
partnership.
Accordingly, after consideration of all
comments and in order to best minimize
overall taxpayer burden, these final
regulations provide for a five-month
automatic extension of time to file
certain returns for partnerships, trusts,
and estates other than certain
bankruptcy estates.
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Pension Excise Taxes
These final regulations also adopt
without modification the proposed
amendments to 26 CFR part 54, which
allow filers of Form 8928, ‘‘Return of
Certain Excise Taxes Under Chapter 43
of the Internal Revenue Code,’’ to obtain
an automatic six-month extension of
time to file the return after the date
prescribed for filing the return.
Special Analyses
It has been determined that this
Treasury Decision is not a significant
regulatory action as defined in
Executive Order 12866. Therefore, a
regulatory assessment is not required. It
also has been determined that section
553(b) of the Administrative Procedure
Act (5 U.S.C. chapter 5) does not apply
to these regulations. Although these
final regulations reference forms that are
approved under the Paperwork
Reduction Act (44 U.S.C. chapter 35),
the regulations themselves do not
impose a collection of information on
small entities. Therefore, the Regulatory
Flexibility Act (5 U.S.C. chapter 6) does
not apply. Pursuant to section 7805(f) of
the Internal Revenue Code, the notice of
proposed rulemaking preceding this
regulation was submitted to the Chief
Counsel for Advocacy of the Small
Business Administration for comment
on its impact on small businesses.
Drafting Information
The principal author of these
regulations is Jason Bremer of the Office
of the Associate Chief Counsel
(Procedure and Administration).
List of Subjects
26 CFR Part 1
Income taxes, Reporting and
recordkeeping requirements.
26 CFR Part 54
Pension excise taxes, Reporting and
recordkeeping requirements.
Adoption of Amendments to the
Regulations
Accordingly, 26 CFR parts 1 and 54
are amended as follows:
PART 1—INCOME TAXES
Paragraph 1. The authority citation
for part 1 is amended by adding entries
in numerical order to read in part as
follows:
■
Authority: 26 U.S.C. 7805 * * *
Section 1.6081–2 also issued under 26
U.S.C. 6081. * * *
Section 1.6081–6 also issued under 26
U.S.C. 6081. * * *
Par. 2. Section 1.6081–2 is added to
read as follows:
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§ 1.6081–2 Automatic extension of time to
file certain returns filed by partnerships.
(a) In general. (1) A partnership
required to file Form 1065, ‘‘U.S.
Partnership Return of Income,’’ or Form
8804, ‘‘Annual Return for Partnership
Withholding Tax,’’ for any taxable year
will be allowed an automatic 5-month
extension of time to file the return after
the date prescribed for filing the return
if the partnership files an application
under this section in accordance with
paragraph (b) of this section. No
additional extension will be allowed
pursuant to § 1.6081–1(b) beyond the
automatic 5-month extension provided
by this section. In the case of a
partnership described in § 1.6081–
5(a)(1), the automatic extension of time
to file allowed under this section runs
concurrently with an extension of time
to file granted pursuant to § 1.6081–5.
(2) An electing large partnership (ELP)
required to file Form 1065–B, ‘‘U.S.
Return of Income for Electing Large
Partnerships,’’ for any taxable year will
be allowed an automatic 6-month
extension of time to file the return after
the date prescribed for filing the return
if the partnership files an application
under this section in accordance with
paragraph (b) of this section.
(b) Requirements. To satisfy this
paragraph (b), the partnership must—
(1) Submit a complete application on
Form 7004, ‘‘Application for Automatic
Extension of Time to File Certain
Business Income Tax, Information, and
Other Returns,’’ or in any other manner
prescribed by the Commissioner;
(2) File the application on or before
the later of—
(i) The date prescribed for filing the
return of the partnership; or
(ii) The expiration of any extension of
time to file granted under § 1.6081–5(a);
and
(3) File the application with the
Internal Revenue Service office
designated in the application’s
instructions.
(c) Payment of section 7519 amount.
An automatic extension of time for
filing a partnership return of income
granted under paragraph (a) of this
section does not extend the time for
payment of any amount due under
section 7519, relating to required
payments for entities electing not to
have a required taxable year.
(d) Section 444 election. An automatic
extension of time for filing a partnership
return of income will run concurrently
with any extension of time for filing a
return allowed because of section 444,
relating to the election of a taxable year
other than a required taxable year.
(e) Effect of extension on partner. An
automatic extension of time for filing a
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partnership return of income under this
section does not extend the time for
filing a partner’s income tax return or
the time for the payment of any tax due
on a partner’s income tax return.
(f) Termination of automatic
extension. The Commissioner may
terminate an automatic extension at any
time by mailing to the partnership a
notice of termination at least 10 days
prior to the termination date designated
in such notice. The Commissioner must
mail the notice of termination to the
address shown on the Form 7004 or to
the partnership’s last known address.
For further guidance regarding the
definition of last known address, see
§ 301.6212–2 of this chapter.
(g) Penalties. See section 6698 for
failure to file a partnership return.
(h) Effective/applicability dates. This
section applies to applications for an
automatic extension of time to file the
partnership returns listed in paragraph
(a) of this section filed on or after June
24, 2011.
§ 1.6081–2T
[Removed]
Par. 3. Section 1.6081–2T is removed.
Par. 4. Section 1.6081–6 is added to
read as follows:
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§ 1.6081–6 Automatic extension of time to
file estate or trust income tax return.
(a) In general. (1) Except as provided
in paragraph (a)(2) of this section, any
estate, including but not limited to an
estate defined in section 2031, or trust
required to file an income tax return on
Form 1041, ‘‘U.S. Income Tax Return for
Estates and Trusts,’’ will be allowed an
automatic 5-month extension of time to
file the return after the date prescribed
for filing the return if the estate or trust
files an application under this section in
accordance with paragraph (b) of this
section. No additional extension will be
allowed pursuant to § 1.6081–1(b)
beyond the automatic 5-month
extension provided by this section.
(2) A bankruptcy estate that is created
when an individual debtor files a
petition under either chapter 7 or
chapter 11 of Title 11 of the U.S. Code
that is required to file an income tax
return on Form 1041, ‘‘U.S. Income Tax
Return for Estates and Trusts,’’ and an
estate or trust required to file an income
tax return on Form 1041–N, ‘‘U.S.
Income Tax Return for Electing Alaska
Native Settlement,’’ or Form 1041–QFT,
‘‘U.S. Income Tax Return for Qualified
Funeral Trusts’’ for any taxable year will
be allowed an automatic 6-month
extension of time to file the return after
the date prescribed for filing the return
if the estate files an application under
this section in accordance with
paragraph (b) of this section.
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(b) Requirements. To satisfy this
paragraph (b), an estate or trust must—
(1) Submit a complete application on
Form 7004, ‘‘Application for Automatic
Extension of Time to File Certain
Business Income Tax, Information, and
Other Returns,’’ or in any other manner
prescribed by the Commissioner;
(2) File the application on or before
the date prescribed for filing the return
with the Internal Revenue Service office
designated in the application’s
instructions; and
(3) Show the amount properly
estimated as tax for the estate or trust for
the taxable year.
(c) No extension of time for the
payment of tax. An automatic extension
of time for filing a return granted under
paragraph (a) of this section will not
extend the time for payment of any tax
due on such return.
(d) Effect of extension on beneficiary.
An automatic extension of time to file
an estate or trust income tax return
under this section will not extend the
time for filing the income tax return of
a beneficiary of the estate or trust or the
time for the payment of any tax due on
the beneficiary’s income tax return.
(e) Termination of automatic
extension. The Commissioner may
terminate an automatic extension at any
time by mailing to the estate or trust a
notice of termination at least 10 days
prior to the termination date designated
in such notice. The Commissioner must
mail the notice of termination to the
address shown on the Form 7004 or to
the estate or trust’s last known address.
For further guidance regarding the
definition of last known address, see
§ 301.6212–2 of this chapter.
(f) Penalties. See section 6651 for
failure to file an estate or trust income
tax return or failure to pay the amount
shown as tax on the return.
(g) Effective/applicability dates. This
section applies to applications for an
automatic extension of time to file an
estate or trust income tax return filed on
or after June 24, 2011.
§ 1.6081–6T
■
[Removed]
Par. 5. Section 1.6081–6T is removed.
PART 54—PENSION EXCISE TAXES
Par. 6. The authority citation for part
54 is amended by adding an entry in
numerical order to read in part as
follows:
■
Authority: 26 U.S.C. 7805 * * *
Section 54.6081–1 also issued under 26
U.S.C. 6081(a).
Par. 7. Section 54.6081–1 is added to
read as follows:
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§ 54.6081–1 Automatic extension of time
for filing returns for certain excise taxes
under Chapter 43.
(a) In general. An employer, other
person or health plan that is required to
file a return on Form 8928, ‘‘Return of
Certain Excise Taxes Under Chapter 43
of the Internal Revenue Code,’’ will be
allowed an automatic 6-month
extension of time to file the return after
the date prescribed for filing the return
if the employer, other person or health
plan files an application under this
section in accordance with paragraph
(b) of this section.
(b) Requirements. To satisfy this
paragraph (b), an employer, other
person or health plan must—
(1) Submit a complete application on
Form 7004, ‘‘Application for Automatic
Extension of Time To File Certain
Business Income Tax, Information, and
Other Returns,’’ or in any other manner
prescribed by the Commissioner;
(2) File the application on or before
the date prescribed for filing the return
with the Internal Revenue Service office
designated in the application’s
instructions; and
(3) Remit the amount of the properly
estimated unpaid tax liability on or
before the date prescribed for payment.
(c) No extension of time for the
payment of tax. An automatic extension
of time for filing a return granted under
paragraph (a) of this section will not
extend the time for payment of any tax
due on such return.
(d) Termination of automatic
extension. The Commissioner may
terminate an automatic extension at any
time by mailing to the employer, other
person, or health plan a notice of
termination at least 10 days prior to the
termination date designated in such
notice. The Commissioner must mail the
notice of termination to the address
shown on the Form 7004 or to the estate
or trust’s last known address. For
further guidance regarding the
definition of last known address, see
§ 301.6212–2 of this chapter.
(e) Penalties. See section 6651 for
failure to file a pension excise tax return
or failure to pay the amount shown as
tax on the return.
(f) Effective/applicability date. This
section is applicable for applications for
an automatic extension of time to file a
return due under chapter 43, filed on or
after June 24, 2011.
Steven T. Miller,
Deputy Commissioner for Services and
Enforcement.
Approved: June 17, 2011.
Emily S. McMahon,
Acting Assistant Secretary of the Treasury
(Tax Policy).
[FR Doc. 2011–15902 Filed 6–23–11; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network
Amendment to the Bank Secrecy Act
Regulations—Reports of Foreign
Financial Accounts; Correction
Reports of foreign financial
*
*
*
*
*
(d) Foreign country. A foreign country
includes all geographical areas located
outside of the United States as defined
in 31 CFR 1010.100(hhh).
*
*
*
*
*
Dated: June 21, 2011.
Charles M. Steele,
Deputy Director, Financial Crimes
Enforcement Network.
DEPARTMENT OF HOMELAND
SECURITY
Financial Crimes Enforcement
Network, Treasury (‘‘FinCEN’’),
Treasury.
ACTION: Correcting amendment.
Coast Guard
This document corrects a
minor typographical error appearing in
the final rule published in the Federal
Register of February 24, 2011.
DATES: Effective on June 24, 2011.
FOR FURTHER INFORMATION CONTACT:
Regulatory Policy and Programs
Division, FinCEN, (800–949–2732).
SUPPLEMENTARY INFORMATION: In rule FR
Doc. 2011–4048, published on February
24, 2011 (76 FR 10234), on page 10245,
in the third column, in line 16, 31 CFR
1010.350(d), the citation to ‘‘31 CFR
1010(hhh)’’ should have read ‘‘31 CFR
1010.100(hhh).’’ This document corrects
the citation.
Because this document is correcting a
minor typographical error, FinCEN finds
that prior notice and comment under
the Administrative Procedure Act are
unnecessary.
Seattle Seafair Unlimited Hydroplane
Race
AGENCY:
SUMMARY:
List of Subjects in 31 CFR Part 1010
Administrative practice and
procedure, Banks, Banking, Brokers,
Currency, Foreign banking, Foreign
currencies, Gambling, Investigations,
Penalties, Reporting and recordkeeping
requirements, Securities, Terrorism.
Accordingly, 31 CFR part 1010 is
corrected by making the following
correcting amendment:
PART 1010—GENERAL PROVISIONS
Authority: 12 U.S.C. 1829b and 1951–
1959; 31 U.S.C. 5311–5314 and 5316–5332;
Jkt 223001
§ 1010.350
accounts.
BILLING CODE 4810–02–P
RIN 1506–AB08
1. The authority citation for part 1010
continues to read as follows:
16:28 Jun 23, 2011
2. In § 1010.350, paragraph (d) is
revised to read as follows:
■
[FR Doc. 2011–15900 Filed 6–23–11; 8:45 am]
31 CFR Part 1010
■
VerDate Mar<15>2010
title III, sec. 314, Pub. L. 107–56, 115 Stat.
307.
PO 00000
Frm 00040
Fmt 4700
Sfmt 4700
33 CFR Part 100
[Docket No. USCG–2011–0452]
Coast Guard, DHS.
Notice of enforcement of
regulation.
AGENCY:
ACTION:
The Coast Guard will enforce
the Seattle Seafair Unlimited
Hydroplane Race Special Local
Regulation on Lake Washington, WA
from 8:00 a.m. on August 4, 2011
through 11:59 p.m. on August 7, 2011
during hydroplane race times. This
action is necessary to ensure public
safety from the inherent dangers
associated with high-speed races while
allowing access for rescue personnel in
the event of an emergency. During the
enforcement period, no person or vessel
will be allowed to enter the regulated
area without the permission of the
Captain of the Port, on-scene Patrol
Commander or Designated
Representative.
SUMMARY:
The regulations at 33 CFR
100.1301 will be enforced from 8 a.m.
on August 4, 2011 through 11:59 p.m.
on August 7, 2011.
FOR FURTHER INFORMATION CONTACT: If
you have questions on this notice, call
or e-mail Ensign Anthony P. LaBoy,
Sector Puget Sound Waterways
Management Division, Coast Guard;
telephone 206–217–6323, e-mail
SectorPugetSoundWWM@uscg.mil.
DATES:
The Coast
Guard will enforce the special local
SUPPLEMENTARY INFORMATION:
E:\FR\FM\24JNR1.SGM
24JNR1
]]>Agencies
[Federal Register Volume 76, Number 122 (Friday, June 24, 2011)]
[Rules and Regulations]
[Pages 36996-37000]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-15902]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Parts 1 and 54
[TD 9531]
RIN 1545-BH88
Extension of Time for Filing Returns
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Final and removal temporary regulations
-----------------------------------------------------------------------
SUMMARY: This document contains final regulations relating to the
automatic extensions of time to file returns for partnership, trust,
and estate taxpayers, and automatic extensions of time for filing
returns for pension excise taxes. The objective of these final
regulations is to reduce overall taxpayer burden by providing an
extension period that strikes the most reasonable balance for these
pass-through entities and the large number of taxpayers who require
information from these entities for completion of their income tax
returns.
DATES: Effective Date: These regulations are effective on June 24,
2011.
Applicability Date: For dates of applicability of these
regulations, see Sec. Sec. 1.6081-2(h), 1.6081-6(g), and 54.6081-1(f).
FOR FURTHER INFORMATION CONTACT: Jason Bremer, (202) 622-4910 (not a
toll-free number).
SUPPLEMENTARY INFORMATION:
Background
This document contains amendments to 26 CFR parts 1 and 54 under
section 6081 of the Internal Revenue Code (Code). On November 8, 2005,
the Treasury Department and the IRS published a notice of proposed
rulemaking (REG-144898-04) by cross-reference to temporary regulations
(TD 9229) in the Federal Register (70 FR 67356, 70 FR 67397) relating
to the simplification of procedures for obtaining automatic extensions
of time
[[Page 36997]]
to file certain returns. On July 1, 2008, the Treasury Department and
the IRS published final and temporary regulations (TD 9407) in the
Federal Register (73 FR 37362) finalizing the rules simplifying the
procedures for obtaining automatic extensions of time to file certain
returns. A notice of proposed rulemaking (REG-115457-08) cross-
referencing the temporary regulations also was published in the Federal
Register (73 FR 37389) on July 1, 2008. The temporary and proposed
regulations reduced the automatic six-month extension of time to file
contained in the 2005 proposed regulations to five months for certain
pass-through entities (most partnerships, estates, and certain trusts).
As these pass-through entities were previously allowed to obtain an
automatic six-month extension of time to file certain returns, the
Treasury Department and the IRS requested comments on whether, and how,
a five-month extension of time to file for these pass-through entities
might increase or reduce overall taxpayer burden. Approximately 70
comments were received in response to the notice of proposed
rulemaking. A public hearing was held on January 13, 2009. Three
speakers appeared at the public hearing and commented on the notice of
proposed rulemaking.
All comments were considered and are available for public
inspection at https://www.regulations.gov or upon request. After
consideration of the written comments and the comments provided at the
public hearing, the proposed regulations under section 6081 are adopted
as revised by this Treasury decision. The public comments, public
hearing, and the revisions are discussed in this preamble.
Explanation and Summary of Comments
Prior to issuance of the 2005 temporary regulations, TD 9229, pass-
through entities were entitled to an automatic three-month extension of
time to file certain returns by filing one form, and could also request
a discretionary additional three-month extension of time to file by
filing a second form. TD 9229 provided temporary regulations that
simplified the extension process by allowing most taxpayers, including
pass-through entities, to obtain a six-month automatic extension of
time to file by filing one single form. In the 2008 final and temporary
regulations, TD 9407, the Treasury Department and the IRS finalized
rules granting an automatic six-month extension of time to file for non
pass-through entities and granting certain pass-through entities a
five-month automatic extension of time to file certain returns. The
five-month extension included in the 2008 final and temporary
regulations for certain pass-through entities responded to comments
received on the 2005 temporary regulations. Commentators expressed
concern that an automatic six-month extension for pass-through entities
would unduly burden individual and corporate taxpayers with ownership
interests in pass-through entities because individual and corporate
taxpayers might not receive information returns from pass-through
entities in sufficient time to complete their income tax returns in an
accurate and timely manner.
Partnership, Trust, and Estate Taxpayers
Recognizing the inherent conflict between providing sufficient time
for pass-through entities to prepare returns and ensuring that the
owners and beneficiaries of pass-through entities timely receive
information returns needed to file their own returns, the 2008 proposed
and temporary regulations specifically requested comments on whether a
shorter filing extension period for pass-through entities might
increase or reduce overall taxpayer burden. The IRS received
approximately 70 comments, many of which are summarized in this
preamble.
Several commentators suggested that the Treasury Department and the
IRS should consider changing the filing and extension due dates for
individual and corporate tax returns rather than shortening the
extension period for pass-through entities. For example, some
commentators suggested moving the individual taxpayer return due date
to April 30th, or allowing individuals and corporations a seven-month
extension of time to file returns. Other commentators suggested moving
up the filing date for partnership, trust, and estate taxpayers to
March 15th, thereby allowing these entities a full six-month extension
of time to file until September 15th so that individual taxpayers with
ownership interests in the entities would receive information timely.
These suggestions are not viable options for a regulation project
because the due dates for filing tax returns are determined by statute.
See, for example, sections 6012(a) and 6072. Further, section 6081
provides that, except in the case of taxpayers who are abroad, the
maximum extension of time to file a tax return cannot exceed six
months. Accordingly, without legislative action, the Treasury
Department and the IRS cannot change the due date for filing tax
returns or increase the maximum extension of time to file a tax return
for pass-through entities, individuals, or corporations.
Although the comments with regard to shortening the automatic
extension period for these pass-through entities varied as to time
periods, the majority of commentators agreed that a less than six-month
extension period for pass-through entities would generally reduce
overall taxpayer burden by allowing taxpayers with ownership interests
in pass-through entities to receive information in a more timely
fashion vis-[agrave]-vis preparation of their own individual or
corporate income tax returns. There was no clear consensus, however,
regarding what the optimal period of extension would be for reducing
taxpayer burden.
The Treasury Department and the IRS considered several extension
periods for pass-through entities, including a four-month and a five-
month extension period, when drafting the proposed and temporary
regulations. The Treasury Department and the IRS ultimately decided
upon a five-month automatic extension period for the proposed and
temporary regulations. Many comments were received supporting the five-
month extension period. Some commentators noted, however, that the
five-month extension period would not alleviate the burden on corporate
taxpayers with ownership interests in pass-through entities. These
commentators expressed a concern that even a five-month extension
period for these entities would, in most cases, simply align the
extended due date for pass-through entities with the extended due date
for corporate returns, resulting in the same delay of information to
corporate owners of these entities. That delay, the commentators
contend, would greatly increase the need for filing amended returns.
Commentators suggested shortening the automatic extension for these
entities to less than five months.
In opting for the five-month extension, the Treasury Department and
the IRS recognize that some corporations with ownership interests in
pass-through entities may continue to experience delayed receipt of
information needed to complete their own corporate returns. The
Treasury Department and the IRS, however, continue to believe that a
five-month extension period reduces the overall burden on taxpayers and
strikes the most reasonable balance for all affected taxpayers. The
five-month extension period allows pass-through entities, including
complex and tiered entities, an adequate time for preparation of the
[[Page 36998]]
required pass-through returns and also ensures the timely and accurate
dissemination of information to a large number of taxpayers who require
that information for completion of their own income tax returns.
Electing large partnerships required to file Form 1065-B, ``U.S.
Return of Income for Electing Large Partnerships,'' for any taxable
year will be allowed an automatic six-month extension of time to file
the return, however, because these pass-through entities are
statutorily required to furnish Schedules K-1 by March 15, regardless
of any extension of time to file the return. See section 6031(b).
Comments varied in response to the five-month automatic filing
extension period provided for trust taxpayers. Several commentators
expressed support of the overall five-month extension to pass-through
entities. Other commentators suggested that trusts resemble an end
taxpayer more than a pass-through entity, and in that respect are more
akin to individuals than to partnerships. These commentators argued
that trusts did not belong in the same class of entities as
partnerships and estates for purposes of automatic filing extensions.
Some commentators further expressed concern that Schedules K-1
would not be received by trusts in a sufficiently timely fashion. For
example, commenters noted that trusts are often invested in
partnerships, which are often invested in other partnerships in tiered
structures, with each entity relying on the next for information before
preparing their own statements. These commenters feared that, due to
the compressed timeframe when Forms 1065, ``U.S. Return of Partnership
Income,'' will typically be prepared, Schedules K-1 received by each
succeeding entity in the chain ultimately will be received by trusts at
the very last minute, resulting in inaccuracies and increased preparer
burden.
Commentators also pointed out that the five-month extended deadline
for trusts would coincide with the extended due date for S Corporation
tax returns. Due to the fact that many trusts are invested in S
Corporations, these commentators viewed this as an increased burden on
trusts and their return preparers.
The Treasury Department and the IRS recognize that only allowing a
five-month extension of time to file for trusts may cause a hardship,
as some trusts may have less time to complete accurate income tax
returns and to provide timely information to the trust's beneficiaries.
Providing a longer extension of time to file, however, still presents
the potential of shifting the burden to individuals who might not
receive timely information. In addition, the Treasury Department and
the IRS believe that the five-month automatic filing extension period
has generally been successful and continues to strike the right balance
in reducing overall taxpayer burden since the proposed and temporary
regulations were adopted.
Therefore, after thorough consideration of all the comments, the
Treasury Department and the IRS determined that the five-month
extension period best reduces overall tax burden. Accordingly, these
final regulations provide that trusts will continue to receive an
automatic five month extension of time to file as provided in the
proposed and temporary regulations.
Finally, a comment questioned whether the five-month automatic
extension of time to file estate or trust income tax returns applies to
individuals filing bankruptcy petitions under chapter 7 or 11 of title
11 of the United States Code. The bankruptcy estate created when a
petition is filed by an individual under either chapter 7 or 11 is a
separate taxable entity for title 26 purposes. See 26 U.S.C. 1398.
Although fiduciaries of these individual bankruptcy estates (trustees
or debtors-in-possession) may be required to file Forms 1041, the
bankruptcy estates are not pass-through entities as described in these
regulations. Therefore, the five-month automatic extension provided by
these regulations is inapplicable to bankruptcy estates of individuals
under chapter 7 or 11 of title 11 of the Bankruptcy Code.
Pass-through entities eligible to file bankruptcy petitions, such
as partnerships, would be affected by these regulations. A separate
taxable entity is not created when a partnership files a bankruptcy
case. See generally 26 U.S.C. Sec. 1399. The trustee or debtor-in-
possession of the bankrupt partnership files a Form 1065, not a Form
1041. Thus, the five-month automatic extension provided in these
regulations would apply, as the filing of a bankruptcy petition does
not change the information reporting requirements of pass-through
entities, such as a partnership.
Accordingly, after consideration of all comments and in order to
best minimize overall taxpayer burden, these final regulations provide
for a five-month automatic extension of time to file certain returns
for partnerships, trusts, and estates other than certain bankruptcy
estates.
Pension Excise Taxes
These final regulations also adopt without modification the
proposed amendments to 26 CFR part 54, which allow filers of Form 8928,
``Return of Certain Excise Taxes Under Chapter 43 of the Internal
Revenue Code,'' to obtain an automatic six-month extension of time to
file the return after the date prescribed for filing the return.
Special Analyses
It has been determined that this Treasury Decision is not a
significant regulatory action as defined in Executive Order 12866.
Therefore, a regulatory assessment is not required. It also has been
determined that section 553(b) of the Administrative Procedure Act (5
U.S.C. chapter 5) does not apply to these regulations. Although these
final regulations reference forms that are approved under the Paperwork
Reduction Act (44 U.S.C. chapter 35), the regulations themselves do not
impose a collection of information on small entities. Therefore, the
Regulatory Flexibility Act (5 U.S.C. chapter 6) does not apply.
Pursuant to section 7805(f) of the Internal Revenue Code, the notice of
proposed rulemaking preceding this regulation was submitted to the
Chief Counsel for Advocacy of the Small Business Administration for
comment on its impact on small businesses.
Drafting Information
The principal author of these regulations is Jason Bremer of the
Office of the Associate Chief Counsel (Procedure and Administration).
List of Subjects
26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
26 CFR Part 54
Pension excise taxes, Reporting and recordkeeping requirements.
Adoption of Amendments to the Regulations
Accordingly, 26 CFR parts 1 and 54 are amended as follows:
PART 1--INCOME TAXES
0
Paragraph 1. The authority citation for part 1 is amended by adding
entries in numerical order to read in part as follows:
Authority: 26 U.S.C. 7805 * * *
Section 1.6081-2 also issued under 26 U.S.C. 6081. * * *
Section 1.6081-6 also issued under 26 U.S.C. 6081. * * *
0
Par. 2. Section 1.6081-2 is added to read as follows:
[[Page 36999]]
Sec. 1.6081-2 Automatic extension of time to file certain returns
filed by partnerships.
(a) In general. (1) A partnership required to file Form 1065,
``U.S. Partnership Return of Income,'' or Form 8804, ``Annual Return
for Partnership Withholding Tax,'' for any taxable year will be allowed
an automatic 5-month extension of time to file the return after the
date prescribed for filing the return if the partnership files an
application under this section in accordance with paragraph (b) of this
section. No additional extension will be allowed pursuant to Sec.
1.6081-1(b) beyond the automatic 5-month extension provided by this
section. In the case of a partnership described in Sec. 1.6081-
5(a)(1), the automatic extension of time to file allowed under this
section runs concurrently with an extension of time to file granted
pursuant to Sec. 1.6081-5.
(2) An electing large partnership (ELP) required to file Form 1065-
B, ``U.S. Return of Income for Electing Large Partnerships,'' for any
taxable year will be allowed an automatic 6-month extension of time to
file the return after the date prescribed for filing the return if the
partnership files an application under this section in accordance with
paragraph (b) of this section.
(b) Requirements. To satisfy this paragraph (b), the partnership
must--
(1) Submit a complete application on Form 7004, ``Application for
Automatic Extension of Time to File Certain Business Income Tax,
Information, and Other Returns,'' or in any other manner prescribed by
the Commissioner;
(2) File the application on or before the later of--
(i) The date prescribed for filing the return of the partnership;
or
(ii) The expiration of any extension of time to file granted under
Sec. 1.6081-5(a); and
(3) File the application with the Internal Revenue Service office
designated in the application's instructions.
(c) Payment of section 7519 amount. An automatic extension of time
for filing a partnership return of income granted under paragraph (a)
of this section does not extend the time for payment of any amount due
under section 7519, relating to required payments for entities electing
not to have a required taxable year.
(d) Section 444 election. An automatic extension of time for filing
a partnership return of income will run concurrently with any extension
of time for filing a return allowed because of section 444, relating to
the election of a taxable year other than a required taxable year.
(e) Effect of extension on partner. An automatic extension of time
for filing a partnership return of income under this section does not
extend the time for filing a partner's income tax return or the time
for the payment of any tax due on a partner's income tax return.
(f) Termination of automatic extension. The Commissioner may
terminate an automatic extension at any time by mailing to the
partnership a notice of termination at least 10 days prior to the
termination date designated in such notice. The Commissioner must mail
the notice of termination to the address shown on the Form 7004 or to
the partnership's last known address. For further guidance regarding
the definition of last known address, see Sec. 301.6212-2 of this
chapter.
(g) Penalties. See section 6698 for failure to file a partnership
return.
(h) Effective/applicability dates. This section applies to
applications for an automatic extension of time to file the partnership
returns listed in paragraph (a) of this section filed on or after June
24, 2011.
Sec. 1.6081-2T [Removed]
0
Par. 3. Section 1.6081-2T is removed.
0
Par. 4. Section 1.6081-6 is added to read as follows:
Sec. 1.6081-6 Automatic extension of time to file estate or trust
income tax return.
(a) In general. (1) Except as provided in paragraph (a)(2) of this
section, any estate, including but not limited to an estate defined in
section 2031, or trust required to file an income tax return on Form
1041, ``U.S. Income Tax Return for Estates and Trusts,'' will be
allowed an automatic 5-month extension of time to file the return after
the date prescribed for filing the return if the estate or trust files
an application under this section in accordance with paragraph (b) of
this section. No additional extension will be allowed pursuant to Sec.
1.6081-1(b) beyond the automatic 5-month extension provided by this
section.
(2) A bankruptcy estate that is created when an individual debtor
files a petition under either chapter 7 or chapter 11 of Title 11 of
the U.S. Code that is required to file an income tax return on Form
1041, ``U.S. Income Tax Return for Estates and Trusts,'' and an estate
or trust required to file an income tax return on Form 1041-N, ``U.S.
Income Tax Return for Electing Alaska Native Settlement,'' or Form
1041-QFT, ``U.S. Income Tax Return for Qualified Funeral Trusts'' for
any taxable year will be allowed an automatic 6-month extension of time
to file the return after the date prescribed for filing the return if
the estate files an application under this section in accordance with
paragraph (b) of this section.
(b) Requirements. To satisfy this paragraph (b), an estate or trust
must--
(1) Submit a complete application on Form 7004, ``Application for
Automatic Extension of Time to File Certain Business Income Tax,
Information, and Other Returns,'' or in any other manner prescribed by
the Commissioner;
(2) File the application on or before the date prescribed for
filing the return with the Internal Revenue Service office designated
in the application's instructions; and
(3) Show the amount properly estimated as tax for the estate or
trust for the taxable year.
(c) No extension of time for the payment of tax. An automatic
extension of time for filing a return granted under paragraph (a) of
this section will not extend the time for payment of any tax due on
such return.
(d) Effect of extension on beneficiary. An automatic extension of
time to file an estate or trust income tax return under this section
will not extend the time for filing the income tax return of a
beneficiary of the estate or trust or the time for the payment of any
tax due on the beneficiary's income tax return.
(e) Termination of automatic extension. The Commissioner may
terminate an automatic extension at any time by mailing to the estate
or trust a notice of termination at least 10 days prior to the
termination date designated in such notice. The Commissioner must mail
the notice of termination to the address shown on the Form 7004 or to
the estate or trust's last known address. For further guidance
regarding the definition of last known address, see Sec. 301.6212-2 of
this chapter.
(f) Penalties. See section 6651 for failure to file an estate or
trust income tax return or failure to pay the amount shown as tax on
the return.
(g) Effective/applicability dates. This section applies to
applications for an automatic extension of time to file an estate or
trust income tax return filed on or after June 24, 2011.
Sec. 1.6081-6T [Removed]
0
Par. 5. Section 1.6081-6T is removed.
PART 54--PENSION EXCISE TAXES
0
Par. 6. The authority citation for part 54 is amended by adding an
entry in numerical order to read in part as follows:
Authority: 26 U.S.C. 7805 * * *
Section 54.6081-1 also issued under 26 U.S.C. 6081(a).
0
Par. 7. Section 54.6081-1 is added to read as follows:
[[Page 37000]]
Sec. 54.6081-1 Automatic extension of time for filing returns for
certain excise taxes under Chapter 43.
(a) In general. An employer, other person or health plan that is
required to file a return on Form 8928, ``Return of Certain Excise
Taxes Under Chapter 43 of the Internal Revenue Code,'' will be allowed
an automatic 6-month extension of time to file the return after the
date prescribed for filing the return if the employer, other person or
health plan files an application under this section in accordance with
paragraph (b) of this section.
(b) Requirements. To satisfy this paragraph (b), an employer, other
person or health plan must--
(1) Submit a complete application on Form 7004, ``Application for
Automatic Extension of Time To File Certain Business Income Tax,
Information, and Other Returns,'' or in any other manner prescribed by
the Commissioner;
(2) File the application on or before the date prescribed for
filing the return with the Internal Revenue Service office designated
in the application's instructions; and
(3) Remit the amount of the properly estimated unpaid tax liability
on or before the date prescribed for payment.
(c) No extension of time for the payment of tax. An automatic
extension of time for filing a return granted under paragraph (a) of
this section will not extend the time for payment of any tax due on
such return.
(d) Termination of automatic extension. The Commissioner may
terminate an automatic extension at any time by mailing to the
employer, other person, or health plan a notice of termination at least
10 days prior to the termination date designated in such notice. The
Commissioner must mail the notice of termination to the address shown
on the Form 7004 or to the estate or trust's last known address. For
further guidance regarding the definition of last known address, see
Sec. 301.6212-2 of this chapter.
(e) Penalties. See section 6651 for failure to file a pension
excise tax return or failure to pay the amount shown as tax on the
return.
(f) Effective/applicability date. This section is applicable for
applications for an automatic extension of time to file a return due
under chapter 43, filed on or after June 24, 2011.
Steven T. Miller,
Deputy Commissioner for Services and Enforcement.
Approved: June 17, 2011.
Emily S. McMahon,
Acting Assistant Secretary of the Treasury (Tax Policy).
[FR Doc. 2011-15902 Filed 6-23-11; 8:45 am]
BILLING CODE 4830-01-P
