Section 67 Limitations on Estates or Trusts; Change of Effective Date, 41636 [2014-16834]
Download as PDF
<![CDATA[
41636
Federal Register / Vol. 79, No. 137 / Thursday, July 17, 2014 / Rules and Regulations
Issued in Renton, Washington, on June 19,
2014.
Michael Kaszycki,
Acting Manager, Transport Airplane
Directorate, Aircraft Certification Service.
[FR Doc. 2014–16781 Filed 7–16–14; 8:45 am]
BILLING CODE 4910–13–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9664]
RIN 1545–BF80
Section 67 Limitations on Estates or
Trusts; Change of Effective Date
Internal Revenue Service (IRS),
Treasury.
ACTION: Final regulations; amendment.
AGENCY:
This document amends final
regulations (TD 9664) that were
published in the Federal Register on
May 9, 2014. The final regulations
provide guidance on which costs
incurred by estates or trusts other than
grantor trusts (non-grantor trusts) are
subject to the 2-percent floor for
miscellaneous itemized deductions
under section 67(a) of the Internal
Revenue Code.
DATES: Effective Date: This amendment
to the final regulations published on
May 9, 2014 (79 FR 90), is effective on
July 17, 2014.
Applicability Date: For date of
applicability, see § 1.67–4(d).
FOR FURTHER INFORMATION CONTACT:
Jennifer N. Keeney, (202) 317–6850 (not
a toll-free number).
SUPPLEMENTARY INFORMATION:
SUMMARY:
Background
The final regulations that are the
subject of these amendments are under
section 67 of the Internal Revenue Code.
The final regulations (TD 9664) were
published in the Federal Register on
Friday, May 9, 2014 (79 FR 90). The
final regulations applied to taxable years
beginning on or after May 9, 2014.
pmangrum on DSK3VPTVN1PROD with RULES
Need for Amendment
The Treasury Department and the IRS
received a comment raising concerns
about the effective/applicability date of
the regulations. As issued, the final
regulations apply to taxable years
beginning on or after May 9, 2014.
Therefore, fiduciaries of existing trusts
and calendar-year estates would
implement the rules beginning January
1, 2015. However, the rules would apply
immediately to any non-grantor trust
VerDate Mar<15>2010
14:56 Jul 16, 2014
Jkt 232001
created after May 8, 2014, the estate of
any decedent who dies after May 8,
2014, and any existing fiscal-year estate
with a taxable year beginning after May
8, 2014. The commentator stated that
the effective/applicability date in the
regulations does not give fiduciaries of
these trusts and estates sufficient time to
implement the changes that are
necessary to comply with the
regulations. Specifically, the
commentator is concerned about
allowing fiduciaries sufficient time to
design and implement the necessary
program changes to determine the
portion of a bundled fee that is
attributable to costs that are subject to
the 2-percent floor versus costs that are
not subject to the 2-percent floor. In
response to these comments, this
document amends § 1.67–4(d) of the
Final Regulations so that the regulations
apply to taxable years beginning on or
after January 1, 2015.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and
recordkeeping requirements.
Adoption of Amendments to the
Regulations
Accordingly, 26 CFR part 1 is
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. In § 1.67–4, paragraph (d) is
revised read as follows:
■
§ 1.67–4 Costs paid or incurred by estates
or non-grantor trusts.
*
*
*
*
*
(d) Effective/applicability date. This
section applies to taxable years
beginning after December 31, 2014.
Martin V. Franks,
Branch Chief, Publications & Regulations
Branch, Legal Processing Division, Associate
Chief Counsel, (Procedure & Administration).
[FR Doc. 2014–16834 Filed 7–16–14; 8:45 am]
BILLING CODE 4830–01–P
PO 00000
Frm 00006
Fmt 4700
Sfmt 4700
DEPARTMENT OF DEFENSE
Office of the Secretary
32 CFR Part 199
[DOD–2011–HA–0134]
RIN 0720–AB55
TRICARE Certified Mental Health
Counselors
Office of the Secretary,
Department of Defense (DoD).
ACTION: Final rule.
AGENCY:
The Department of Defense is
publishing this final rule to implement
the TRICARE Certified Mental Health
Counselor (TCMHC) provider type as a
qualified mental health provider
authorized to independently diagnose
and treat TRICARE beneficiaries and
receive reimbursement for services.
Additionally, we are extending the time
frame that was mentioned in the Interim
Final Rule for meeting certain
education, examination, and supervised
clinical practice criteria to be
considered for authorization as a
TCMHC. The time frame has been
changed from prior to January 1, 2015,
to prior to January 1, 2017. One final set
of criteria shall apply for the
authorization of the TCMHC beginning
January 1, 2017. The supervised mental
health counselor (SMHC) provider type,
while previously proposed to be
terminated under TRICARE, is now
continued indefinitely as an
extramedical individual provider
practicing mental health counseling
under the supervision of a TRICAREauthorized physician.
DATES: Effective Date: This rule is
effective August 18, 2014.
FOR FURTHER INFORMATION CONTACT: Dr.
Patricia Moseley, Defense Health
Agency, Clinical Support Division,
Behavioral Health Branch, 703–681–
0064.
SUPPLEMENTARY INFORMATION:
SUMMARY:
I. Executive Summary
A. Purpose of the Final Rule
1. The Need for the Regulatory Action
The purpose of this final rule is to
prescribe regulations that will allow
licensed or certified mental health
counselors to be able to independently
provide care to TRICARE beneficiaries
and receive payment for those services.
The final rule incorporates the
recommendations of the Institute of
Medicine (IOM) 2010 report for the
independent practice of mental health
counselors (MHCs) under TRICARE,
including specific education, licensure,
E:\FR\FM\17JYR1.SGM
17JYR1
]]>Agencies
[Federal Register Volume 79, Number 137 (Thursday, July 17, 2014)]
[Rules and Regulations]
[Page 41636]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-16834]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9664]
RIN 1545-BF80
Section 67 Limitations on Estates or Trusts; Change of Effective
Date
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Final regulations; amendment.
-----------------------------------------------------------------------
SUMMARY: This document amends final regulations (TD 9664) that were
published in the Federal Register on May 9, 2014. The final regulations
provide guidance on which costs incurred by estates or trusts other
than grantor trusts (non-grantor trusts) are subject to the 2-percent
floor for miscellaneous itemized deductions under section 67(a) of the
Internal Revenue Code.
DATES: Effective Date: This amendment to the final regulations
published on May 9, 2014 (79 FR 90), is effective on July 17, 2014.
Applicability Date: For date of applicability, see Sec. 1.67-4(d).
FOR FURTHER INFORMATION CONTACT: Jennifer N. Keeney, (202) 317-6850
(not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The final regulations that are the subject of these amendments are
under section 67 of the Internal Revenue Code. The final regulations
(TD 9664) were published in the Federal Register on Friday, May 9, 2014
(79 FR 90). The final regulations applied to taxable years beginning on
or after May 9, 2014.
Need for Amendment
The Treasury Department and the IRS received a comment raising
concerns about the effective/applicability date of the regulations. As
issued, the final regulations apply to taxable years beginning on or
after May 9, 2014. Therefore, fiduciaries of existing trusts and
calendar-year estates would implement the rules beginning January 1,
2015. However, the rules would apply immediately to any non-grantor
trust created after May 8, 2014, the estate of any decedent who dies
after May 8, 2014, and any existing fiscal-year estate with a taxable
year beginning after May 8, 2014. The commentator stated that the
effective/applicability date in the regulations does not give
fiduciaries of these trusts and estates sufficient time to implement
the changes that are necessary to comply with the regulations.
Specifically, the commentator is concerned about allowing fiduciaries
sufficient time to design and implement the necessary program changes
to determine the portion of a bundled fee that is attributable to costs
that are subject to the 2-percent floor versus costs that are not
subject to the 2-percent floor. In response to these comments, this
document amends Sec. 1.67-4(d) of the Final Regulations so that the
regulations apply to taxable years beginning on or after January 1,
2015.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
Adoption of Amendments to the Regulations
Accordingly, 26 CFR part 1 is amended as follows:
PART 1--INCOME TAXES
0
Paragraph 1. The authority citation for part 1 continues to read in
part as follows:
Authority: 26 U.S.C. 7805 * * *
0
Par. 2. In Sec. 1.67-4, paragraph (d) is revised read as follows:
Sec. 1.67-4 Costs paid or incurred by estates or non-grantor trusts.
* * * * *
(d) Effective/applicability date. This section applies to taxable
years beginning after December 31, 2014.
Martin V. Franks,
Branch Chief, Publications & Regulations Branch, Legal Processing
Division, Associate Chief Counsel, (Procedure & Administration).
[FR Doc. 2014-16834 Filed 7-16-14; 8:45 am]
BILLING CODE 4830-01-P
