Department of the Treasury March 14, 2006 – Federal Register Recent Federal Regulation Documents

Open Meeting of the Small Business/Self Employed-Taxpayer Burden Reduction Committee of the Taxpayer Advocacy Panel
Document Number: E6-3627
Type: Notice
Date: 2006-03-14
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Small Business/Self EmployedTaxpayer Burden Reduction Committee of the Taxpayer Advocacy Panel will be conducted (via teleconference). The TAP will be discussing issues pertaining to increasing compliance and lessening the burden for Small Business/Self Employed individuals.
Request for Nominations to the Electronic Tax Administration Advisory Committee
Document Number: E6-3626
Type: Notice
Date: 2006-03-14
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Electronic Tax Administration Advisory Committee (ETAAC), was established to provide continued input into the development and implementation of the Internal Revenue Service (IRS) strategy for electronic tax administration. The ETAAC provides an organized public forum for discussion of electronic tax administration issues in support of the overriding goal that paperless filing should be the preferred and most convenient method of filing tax and information returns. ETAAC members convey the public's perception of IRS electronic tax administration activities, offer constructive observations about current or proposed policies, programs, and procedures, and suggest improvements. This document seeks nominations of individuals to be considered for selection as Committee members. The Director, Electronic Tax Administration (ETA) will assure that the size and organizational representation of the ETAAC obtains balanced membership and includes representatives from various groups including: (1) Tax practitioners and preparers, (2) transmitters of electronic returns, (3) tax software developers, (4) large and small businesses, (5) employers and payroll service providers, (6) individual taxpayers, (7) financial industry (payers, payment options and best practices), (8) system integrators (technology providers), (9) academic (marketing, sales or technical perspectives), (10) trusts and estates, (11) tax exempt organizations, and (12) state and local governments. We are soliciting nominations from professional and public interest groups, IRS officials, the Department of Treasury, and Congress. Members serve a three-year term on the ETAAC to allow a change in membership. The change of members on the Committee ensures that different perspectives are represented. All travel expenses within government guidelines will be reimbursed. Potential candidates must pass an IRS tax compliance check and Federal Bureau of Investigation (FBI) background investigation.
Proposed Collection; Comment Request for Form 8861
Document Number: E6-3625
Type: Notice
Date: 2006-03-14
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Form 8861, Welfare-to-Work Credit.
Open Meeting of the Taxpayer Assistance Center Committee of the Taxpayer Advocacy Panel
Document Number: E6-3624
Type: Notice
Date: 2006-03-14
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Taxpayer Assistance Center Committee of the Taxpayer Advocacy Panel will be conducted (via teleconference). The Taxpayer Advocacy Panel (TAP) is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Open Meeting of the Area 5 Taxpayer Advocacy Panel (Including the States of Iowa, Kansas, Minnesota, Missouri, Nebraska, Oklahoma, and Texas)
Document Number: E6-3623
Type: Notice
Date: 2006-03-14
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Area 5 Taxpayer Advocacy Panel will be conducted. The Taxpayer Advocacy Panel is soliciting public comment, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Open Meeting of the Area 7 Taxpayer Advocacy Panel (Including the States of Alaska, California, Hawaii, and Nevada)
Document Number: E6-3622
Type: Notice
Date: 2006-03-14
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Area 7 committee of the Taxpayer Advocacy Panel will be conducted in Los Angeles, California. The Taxpayer Advocacy Panel (TAP) is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service. The TAP will use citizen input to make recommendations to the Internal Revenue Service.
Practice Before the Internal Revenue Service
Document Number: 06-55512
Type: Rule
Date: 2006-03-14
Agency: Office of the Secretary, Department of the Treasury, Department of Treasury
Revisions to Regulations Relating to Withholding of Tax on Certain U.S. Source Income Paid to Foreign Persons and Revisions of Information Reporting Regulations
Document Number: 06-2443
Type: Rule
Date: 2006-03-14
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations relating to the withholding of tax under sections 1441 and 1442 on certain U.S. source income paid to foreign persons and related requirements governing collection, deposit, refunds, and credits of withheld amounts under sections 1461 through 1463. Additionally, this document contains final regulations under sections 6049 and 6114. These regulations affect persons making payments of U.S. source income to foreign persons and foreign persons claiming benefits under a U.S. income tax treaty.
Concentrations in Commercial Real Estate Lending, Sound Risk Management Practices; Extension of Comment Period
Document Number: 06-2442
Type: Notice
Date: 2006-03-14
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
On January 13, 2006, the OCC, Board, FDIC, and OTS (the Agencies) published for public comment proposed Interagency Guidance on Concentrations in Commercial Real Estate Lending, Sound Risk Management Practices. The Agencies are extending the comment period on the proposed guidance for 30 days.
Agent for a Consolidated Group With Foreign Common Parent
Document Number: 06-2438
Type: Rule
Date: 2006-03-14
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains temporary regulations under section 1502 that provide the IRS with the authority to designate a domestic member of the consolidated group as a substitute agent to act as the sole agent for the group where a foreign entity is the common parent. The regulations affect corporations that join in the filing of a consolidated Federal income tax return where the common parent of the consolidated group is a foreign entity that is treated as a domestic corporation pursuant to section 7874(b) of the Internal Revenue Code (Code) or as the result of a section 953(d) election. The text of these temporary regulations also serves as the text of the proposed regulations set forth in the notice of proposed rulemaking on this subject in the Proposed Rules section in this issue of the Federal Register.
Agent for a Consolidated Group With Foreign Common Parent
Document Number: 06-2437
Type: Proposed Rule
Date: 2006-03-14
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing regulations that provide the IRS with the authority to designate a domestic member of the consolidated group as a substitute agent to act as the sole agent for the group where a foreign entity is the common parent. These regulations affect corporations that join in the filing of a consolidated Federal income tax return where the common parent of the consolidated group is treated as a domestic corporation pursuant to section 7874(b) of the Internal Revenue Code (Code) or as a result of a section 953(d) election. The text of the temporary regulations also serves as the text of these proposed regulations.
Guidance Under Section 1502; Suspension of Losses on Certain Stock Dispositions
Document Number: 06-2411
Type: Rule
Date: 2006-03-14
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations under section 1502 of the Internal Revenue Code of 1986. The regulations apply when a member of a consolidated group transfers subsidiary stock at a loss. They also apply when a member holds loss shares of subsidiary stock and the subsidiary ceases to be a member of the group. These regulations finalize Sec. 1.1502-35T without substantive change.