Foreign Tax Credit Splitting Events, 8184-8185 [2012-3350]
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8184
Federal Register / Vol. 77, No. 30 / Tuesday, February 14, 2012 / Proposed Rules
PART 320—INITIAL DETERMINATIONS
UNDER THE RAILROAD
UNEMPLOYMENT INSURANCE ACT
AND REVIEWS OF AND APPEALS
FROM SUCH DETERMINATIONS
4. The authority citation for part 320
continues to read as follows:
Authority: 45 U.S.C. 355 and 362(1).
5. In § 320.6, paragraph (c)
introductory text is revised to read as
follows:
§ 320.6
Adjudicating office.
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*
(c) Field Service-Headquarters. Field
Service-Headquarters staff are
authorized to make determinations on
any of the issues listed in paragraph (b)
of this section. In addition, Field
Service-Headquarters staff are
authorized to make initial
determinations on the following issues:
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6. In § 320.10, paragraph (c) is revised
to read as follows:
§ 320.10 Reconsideration of initial
determination.
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*
(c) Notice of decision. The
adjudicating office shall, as soon as
possible, render a decision on the
request for reconsideration. If a decision
rendered by a district office, as the
adjudicating office, sustains the initial
determination, either in whole or in
part, the decision shall be referred to the
appropriate Field Service-Headquarters
staff for review prior to issuance. The
party who requested reconsideration
shall be notified, in writing, of the
decision on reconsideration no later
than 15 days from the date of the
decision or, where the Field ServiceHeadquarters staff has conducted a
review of the decision, within 7 days
following the completion of the review.
If the decision results in denial of
benefits, the claimant shall be notified
of the right to appeal as provided in
§ 320.12 of this part. If the decision
results in payment of benefits, the baseyear employer(s) shall be notified of the
right to appeal as provided in § 320.12
of this part.
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PART 345—EMPLOYERS’
CONTRIBUTIONS AND
CONTRIBUTION REPORTS
7. The authority citation for part 345
continues to read as follows:
Authority: 45 U.S.C. 362(1).
16:41 Feb 13, 2012
Consolidated employer records.
(a) Establishing a consolidated
employer record. Two or more
employers that are under common
ownership or control may request the
Board to consolidate their individual
employer records into a joint individual
employer record. Such joint individual
employer record shall be treated as
though it were a single employer record.
A request for such consolidation shall
be made to the Director of Policy and
Systems, and such consolidation shall
be effective commencing with the
calendar year following the year of the
request.
(b) Discontinuance of a consolidated
employer record. Two or more
employers that have established and
maintained a consolidated employer
record will be permitted to discontinue
such consolidated record only if the
individual employers agree to an
allocation of the consolidated employer
record and such allocation is approved
by the Director of Policy and Systems.
The discontinuance of the consolidated
record shall be effective commencing
with the calendar year following the
year of the Director of Policy and
Systems’ approval.
9. In § 345.307 paragraphs (a) and (b)
are revised to read as follows:
§ 345.307
Rate protest.
(a) Request for reconsideration. An
employer may appeal a determination of
a contribution rate computed under this
part by filing a request for
reconsideration with the Director of
Policy and Systems within 90 days after
the date on which the Board notified the
employer of its rate of contribution for
the next ensuing calendar year. Within
45 days of the receipt of a request for
reconsideration, the Director shall issue
a decision on the protest.
(b) Appeal to the Board. An employer
aggrieved by the decision of the Director
of Policy and Systems under paragraph
(a) of this section may appeal to the
Board. Such appeal shall be filed with
the Secretary to the Board within 30
days after the date on which the
Director notified the employer of the
decision on reconsideration. The Board
may decide such appeal without a
hearing or, in its discretion, may refer
the matter to a hearings officer pursuant
to part 319 of this chapter.
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Dated: February 1, 2012.
By Authority of the Board.
Martha P. Rico, for the Board,
Secretary to the Board.
[FR Doc. 2012–2808 Filed 2–13–12; 8:45 am]
8. Revise § 345.202 to read as follows:
VerDate Mar<15>2010
§ 345.202
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG–132736–11]
RIN 1545–BK49
Foreign Tax Credit Splitting Events
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice of proposed rulemaking
by cross-reference to temporary
regulations.
AGENCY:
In the Rules and Regulations
section in this issue of the Federal
Register, the IRS is issuing temporary
regulations that provide guidance
relating to a new provision of the
Internal Revenue Code (Code) that
addresses situations in which foreign
income taxes have been separated from
the related income. Those regulations
are necessary to provide guidance on
applying the new statutory provision,
which was enacted as part of legislation
commonly referred to as the Education
Jobs and Medicaid Assistance Act
(EJMAA) on August 10, 2010. The text
of those temporary regulations
published in this issue of the Federal
Register also serves as the text of these
proposed regulations.
DATES: Comments and requests for a
public hearing must be received by May
14, 2012.
ADDRESSES: Send submissions to
CC:PA:LPD:PR (REG–132736–11), room
5205, Internal Revenue Service, P.O.
Box 7604, Ben Franklin Station,
Washington, DC 20044. Submissions
may be hand delivered Monday through
Friday between the hours of 8 a.m. and
4 p.m. to CC:PA:LPD:PR (REG–132736–
11), Courier’s desk, Internal Revenue
Service, 1111 Constitution Avenue NW.,
Washington, DC 20044, or sent
electronically, via the Federal
eRulemaking Portal at
www.regulations.gov (IRS REG–132736–
11).
FOR FURTHER INFORMATION CONTACT:
Concerning the regulations, Suzanne M.
Walsh, (202) 622–3850; concerning
submissions of comments,
Oluwafunmilayo Taylor, (202) 622–7180
(not toll-free numbers).
SUPPLEMENTARY INFORMATION:
SUMMARY:
Background and Explanation of
Provisions
Temporary regulations in the Rules
and Regulations section of this issue of
the Federal Register contain
amendments to the Income Tax
Regulations (26 CFR part 1) which
E:\FR\FM\14FEP1.SGM
14FEP1
Federal Register / Vol. 77, No. 30 / Tuesday, February 14, 2012 / Proposed Rules
provide rules relating to a new
provision of the Code that was enacted
as part of EJMAA (Pub. L. 111–226, 124
Stat. 2389 (2010)) which addresses
situations in which foreign income taxes
have been separated from the related
income. The text of those regulations
also serves as the text of these proposed
regulations. The preamble to the
temporary regulations explains the
temporary regulations and these
proposed regulations. The regulations
affect taxpayers claiming foreign tax
credits.
Special Analyses
It has been determined that this notice
of proposed rulemaking is not a
significant regulatory action as defined
in Executive Order 12866. Therefore, a
regulatory assessment is not required. It
has also been determined that section
553(b) of the Administrative Procedure
Act (5 U.S.C. chapter 5) does not apply
to these regulations, and because the
regulations do not impose a collection
of information on small entities, the
Regulatory Flexibility Act (5 U.S.C.
chapter 6) does not apply. Pursuant to
section 7805(f), these regulations have
been submitted to the Chief Counsel for
Advocacy of the Small Business
Administration for comment on its
impact on small business.
Comments and Requests for Public
Hearing
Before these proposed regulations are
adopted as final regulations,
consideration will be given to any
comments that are submitted timely to
the IRS as prescribed in this preamble
under ADDRESSES. The Treasury
Department and the IRS request
comments on all aspects of the proposed
rules. All comments will be available at
www.regulations.gov or upon request. A
public hearing will be scheduled if
requested in writing by any person that
timely submits comments. If a public
hearing is scheduled, notice of the date,
time, and place for the public hearing
will be published in the Federal
Register.
mstockstill on DSK4VPTVN1PROD with PROPOSALS
Drafting Information
The principal author of these
regulations is Suzanne M. Walsh of the
Office of Associate Chief Counsel
(International). However, other
personnel from the IRS and the Treasury
Department participated in their
development.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and
recordkeeping requirements.
VerDate Mar<15>2010
16:41 Feb 13, 2012
Jkt 226001
§ 1.909–2
Proposed Amendments to the
Regulations
Accordingly, 26 CFR part 1 is
proposed to be amended as follows:
PART 1—INCOME TAXES
Paragraph 1. The authority citation
for part 1 continues to read in part as
follows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.704–1 is amended as
follows:
1. Paragraph (b)(1)(ii)(b)(3) is added.
2. Paragraph (b)(4)(viii)(d)(3) and
paragraph (b)(5) Example 24 are revised.
The addition and revisions read as
follows:
§ 1.704–1
Partner’s distributive share.
*
*
*
*
*
(b) * * *
(1) * * *
(ii) * * *
(b) * * *
(3) [The text of the proposed
amendments to § 1.704–1(b)(1)(ii)(b)(3)
is the same as the text of § 1.704–
1T(b)(1)(ii)(b)(3) published elsewhere in
this issue of the Federal Register.]
*
*
*
*
*
(4) * * *
(viii) * * *
(d) * * *
(3) [The text of the proposed
amendments to § 1.704–
1(b)(4)(viii)(d)(3) is the same as the text
of § 1.704–1T(b)(4)(viii)(d)(3) published
elsewhere in this issue of the Federal
Register.]
*
*
*
*
*
(5) * * *
Example 24. [The text of the proposed
amendments to § 1.704–1(b)(5) Example
24 is the same as the text of §§ 1.704–
1T(b)(5) Example 24 published
elsewhere in this issue of the Federal
Register.]
*
*
*
*
*
Par. 3. Section 1.909–0 is added to
read as follows:
§ 1.909–0 Outline of regulation provisions
for section 909.
[The text of proposed § 1.909–0 is the
same as the text of § 1.909–0T published
elsewhere in this issue of the Federal
Register.]
Par. 4. Sections 1.909–1 through
1.909–6 are added to read as follows:
§ 1.909–1
Definitions and special rules.
[The text of proposed § 1.909–1 is the
same as the text of § 1.909–1T(a)
through (e) published elsewhere in this
issue of the Federal Register.]
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8185
Splitter arrangements.
[The text of proposed § 1.909–2 is the
same as the text of § 1.909–2T(a)
through (c) published elsewhere in this
issue of the Federal Register.]
§ 1.909–3 Rules regarding related income
and split taxes.
[The text of proposed § 1.909–3 is the
same as the text of § 1.909–3T(a)
through (c) published elsewhere in this
issue of the Federal Register.]
§ 1.909–4
Coordination rules.
[The text of proposed § 1.909–4 is the
same as the text of § 1.909–4T(a)
through (b) published elsewhere in this
issue of the Federal Register.]
§ 1.909–5 2011 and 2012 Splitter
arrangements.
[The text of proposed § 1.909–5 is the
same as the text of § 1.909–5T(a)
through (c) published elsewhere in this
issue of the Federal Register.]
§ 1.909–6 Pre-2011 foreign tax credit
splitting events.
[The text of proposed § 1.909–6 is the
same as the text of § 1.909–6T(a)
through (h) published elsewhere in this
issue of the Federal Register.]
Steven T. Miller,
Deputy Commissioner for Services and
Enforcement.
[FR Doc. 2012–3350 Filed 2–9–12; 4:15 pm]
BILLING CODE 4830–01–P
DEPARTMENT OF THE INTERIOR
Office of Surface Mining Reclamation
and Enforcement
30 CFR Part 935
[SATS No. OH–252–FOR; Docket ID OSM
2011–0003]
Ohio Regulatory Program
Office of Surface Mining
Reclamation and Enforcement (OSM),
Interior.
ACTION: Proposed rule; reopening of the
public comment period and opportunity
for public hearing on the proposed
amendment.
AGENCY:
We are announcing receipt of
a proposed amendment to the Ohio
regulatory program (the ‘‘Ohio
program’’) under the Surface Mining
Control and Reclamation Act of 1977
(SMCRA or the Act) and reopening the
public comment period. The comment
period is being reopened to incorporate
changes that Ohio made to its initial
amendment submission of 2007
regarding Ohio’s alternative bonding
SUMMARY:
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]]>Agencies
[Federal Register Volume 77, Number 30 (Tuesday, February 14, 2012)]
[Proposed Rules]
[Pages 8184-8185]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-3350]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG-132736-11]
RIN 1545-BK49
Foreign Tax Credit Splitting Events
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice of proposed rulemaking by cross-reference to temporary
regulations.
-----------------------------------------------------------------------
SUMMARY: In the Rules and Regulations section in this issue of the
Federal Register, the IRS is issuing temporary regulations that provide
guidance relating to a new provision of the Internal Revenue Code
(Code) that addresses situations in which foreign income taxes have
been separated from the related income. Those regulations are necessary
to provide guidance on applying the new statutory provision, which was
enacted as part of legislation commonly referred to as the Education
Jobs and Medicaid Assistance Act (EJMAA) on August 10, 2010. The text
of those temporary regulations published in this issue of the Federal
Register also serves as the text of these proposed regulations.
DATES: Comments and requests for a public hearing must be received by
May 14, 2012.
ADDRESSES: Send submissions to CC:PA:LPD:PR (REG-132736-11), room 5205,
Internal Revenue Service, P.O. Box 7604, Ben Franklin Station,
Washington, DC 20044. Submissions may be hand delivered Monday through
Friday between the hours of 8 a.m. and 4 p.m. to CC:PA:LPD:PR (REG-
132736-11), Courier's desk, Internal Revenue Service, 1111 Constitution
Avenue NW., Washington, DC 20044, or sent electronically, via the
Federal eRulemaking Portal at www.regulations.gov (IRS REG-132736-11).
FOR FURTHER INFORMATION CONTACT: Concerning the regulations, Suzanne M.
Walsh, (202) 622-3850; concerning submissions of comments,
Oluwafunmilayo Taylor, (202) 622-7180 (not toll-free numbers).
SUPPLEMENTARY INFORMATION:
Background and Explanation of Provisions
Temporary regulations in the Rules and Regulations section of this
issue of the Federal Register contain amendments to the Income Tax
Regulations (26 CFR part 1) which
[[Page 8185]]
provide rules relating to a new provision of the Code that was enacted
as part of EJMAA (Pub. L. 111-226, 124 Stat. 2389 (2010)) which
addresses situations in which foreign income taxes have been separated
from the related income. The text of those regulations also serves as
the text of these proposed regulations. The preamble to the temporary
regulations explains the temporary regulations and these proposed
regulations. The regulations affect taxpayers claiming foreign tax
credits.
Special Analyses
It has been determined that this notice of proposed rulemaking is
not a significant regulatory action as defined in Executive Order
12866. Therefore, a regulatory assessment is not required. It has also
been determined that section 553(b) of the Administrative Procedure Act
(5 U.S.C. chapter 5) does not apply to these regulations, and because
the regulations do not impose a collection of information on small
entities, the Regulatory Flexibility Act (5 U.S.C. chapter 6) does not
apply. Pursuant to section 7805(f), these regulations have been
submitted to the Chief Counsel for Advocacy of the Small Business
Administration for comment on its impact on small business.
Comments and Requests for Public Hearing
Before these proposed regulations are adopted as final regulations,
consideration will be given to any comments that are submitted timely
to the IRS as prescribed in this preamble under ADDRESSES. The Treasury
Department and the IRS request comments on all aspects of the proposed
rules. All comments will be available at www.regulations.gov or upon
request. A public hearing will be scheduled if requested in writing by
any person that timely submits comments. If a public hearing is
scheduled, notice of the date, time, and place for the public hearing
will be published in the Federal Register.
Drafting Information
The principal author of these regulations is Suzanne M. Walsh of
the Office of Associate Chief Counsel (International). However, other
personnel from the IRS and the Treasury Department participated in
their development.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
Proposed Amendments to the Regulations
Accordingly, 26 CFR part 1 is proposed to be amended as follows:
PART 1--INCOME TAXES
Paragraph 1. The authority citation for part 1 continues to read in
part as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.704-1 is amended as follows:
1. Paragraph (b)(1)(ii)(b)(3) is added.
2. Paragraph (b)(4)(viii)(d)(3) and paragraph (b)(5) Example 24 are
revised.
The addition and revisions read as follows:
Sec. 1.704-1 Partner's distributive share.
* * * * *
(b) * * *
(1) * * *
(ii) * * *
(b) * * *
(3) [The text of the proposed amendments to Sec. 1.704-
1(b)(1)(ii)(b)(3) is the same as the text of Sec. 1.704-
1T(b)(1)(ii)(b)(3) published elsewhere in this issue of the Federal
Register.]
* * * * *
(4) * * *
(viii) * * *
(d) * * *
(3) [The text of the proposed amendments to Sec. 1.704-
1(b)(4)(viii)(d)(3) is the same as the text of Sec. 1.704-
1T(b)(4)(viii)(d)(3) published elsewhere in this issue of the Federal
Register.]
* * * * *
(5) * * *
Example 24. [The text of the proposed amendments to Sec. 1.704-
1(b)(5) Example 24 is the same as the text of Sec. Sec. 1.704-1T(b)(5)
Example 24 published elsewhere in this issue of the Federal Register.]
* * * * *
Par. 3. Section 1.909-0 is added to read as follows:
Sec. 1.909-0 Outline of regulation provisions for section 909.
[The text of proposed Sec. 1.909-0 is the same as the text of
Sec. 1.909-0T published elsewhere in this issue of the Federal
Register.]
Par. 4. Sections 1.909-1 through 1.909-6 are added to read as
follows:
Sec. 1.909-1 Definitions and special rules.
[The text of proposed Sec. 1.909-1 is the same as the text of
Sec. 1.909-1T(a) through (e) published elsewhere in this issue of the
Federal Register.]
Sec. 1.909-2 Splitter arrangements.
[The text of proposed Sec. 1.909-2 is the same as the text of
Sec. 1.909-2T(a) through (c) published elsewhere in this issue of the
Federal Register.]
Sec. 1.909-3 Rules regarding related income and split taxes.
[The text of proposed Sec. 1.909-3 is the same as the text of
Sec. 1.909-3T(a) through (c) published elsewhere in this issue of the
Federal Register.]
Sec. 1.909-4 Coordination rules.
[The text of proposed Sec. 1.909-4 is the same as the text of
Sec. 1.909-4T(a) through (b) published elsewhere in this issue of the
Federal Register.]
Sec. 1.909-5 2011 and 2012 Splitter arrangements.
[The text of proposed Sec. 1.909-5 is the same as the text of
Sec. 1.909-5T(a) through (c) published elsewhere in this issue of the
Federal Register.]
Sec. 1.909-6 Pre-2011 foreign tax credit splitting events.
[The text of proposed Sec. 1.909-6 is the same as the text of
Sec. 1.909-6T(a) through (h) published elsewhere in this issue of the
Federal Register.]
Steven T. Miller,
Deputy Commissioner for Services and Enforcement.
[FR Doc. 2012-3350 Filed 2-9-12; 4:15 pm]
BILLING CODE 4830-01-P
