Department of the Treasury 2008 – Federal Register Recent Federal Regulation Documents

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Additional Designation of Entities Pursuant to Executive Order 13382
Document Number: E8-31125
Type: Notice
Date: 2008-12-31
Agency: Department of the Treasury, Office of Foreign Assets Control, Foreign Assets Control Office, Department of Treasury
The Treasury Department's Office of Foreign Assets Control (``OFAC'') is publishing the names of two newly designated entities whose property and interests in property are blocked pursuant to Executive Order 13382 of June 28, 2005, ``Blocking Property of Weapons of Mass Destruction Proliferators and Their Supporters.''
Open Meeting of the Advisory Committee on the Ten-Year Framework for Energy and Environment
Document Number: E8-31065
Type: Notice
Date: 2008-12-31
Agency: Department of the Treasury, Department of Treasury
The Department of Treasury's Advisory Committee on the Ten- Year Framework for Energy and Environment will convene its first meeting on Thursday, January 15, 2009, in the Large Conference Room of the main Department Building, 1500 Pennsylvania Avenue, NW., Washington, DC, beginning at 2:30 p.m. Eastern Time. The meeting will be open to the public.
List of Countries Requiring Cooperation With an International Boycott
Document Number: E8-30877
Type: Notice
Date: 2008-12-31
Agency: Office of the Secretary, Department of the Treasury, Department of Treasury
Unblocking of Specially Designated Narcotics Traffickers Pursuant to Executive Order 12978
Document Number: E8-30971
Type: Notice
Date: 2008-12-30
Agency: Department of the Treasury, Office of Foreign Assets Control, Foreign Assets Control Office, Department of Treasury
The Treasury Department's Office of Foreign Assets Control (``OFAC'') is publishing the names of three individuals whose property and interests in property have been unblocked pursuant to Executive Order 12978 of October 21, 1995, Blocking Assets and Prohibiting Transactions With Significant Narcotics Traffickers.
Prompt Payment Interest Rate; Contract Disputes Act
Document Number: E8-30932
Type: Notice
Date: 2008-12-30
Agency: Fiscal Service, Public Debt Bureau, Department of Treasury, Department of the Treasury
For the period beginning January 1, 2009, and ending on June 30, 2009, the prompt payment interest rate is 5\5/8\ per centum per annum.
Minimum Capital Ratios; Capital Adequacy Guidelines; Capital Maintenance; Capital: Deduction of Goodwill Net of Associated Deferred Tax Liability
Document Number: E8-30780
Type: Rule
Date: 2008-12-30
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
The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Board), the Federal Deposit Insurance Corporation (FDIC), and the Office of Thrift Supervision (OTS) (collectively, the Agencies) are amending their regulatory capital rules to permit banks, bank holding companies, and savings associations (collectively, banking organizations) to reduce the amount of goodwill that a banking organization must deduct from tier 1 capital by the amount of any deferred tax liability associated with that goodwill. For a banking organization that elects to apply this final rule, the amount of goodwill the banking organization must deduct from tier 1 capital would reflect the maximum exposure to loss in the event that such goodwill is impaired or derecognized for financial reporting purposes.
Submission for OMB Review; Comment Request
Document Number: E8-30741
Type: Notice
Date: 2008-12-29
Agency: Department of the Treasury, Department of Treasury
Submission for OMB Review; Comment Request
Document Number: E8-30740
Type: Notice
Date: 2008-12-29
Agency: Department of the Treasury, Department of Treasury
Submission for OMB Review; Comment Request
Document Number: E8-30739
Type: Notice
Date: 2008-12-29
Agency: Department of the Treasury, Department of Treasury
Guidance Regarding Foreign Base Company Sales Income
Document Number: E8-30729
Type: Proposed Rule
Date: 2008-12-29
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 and Treasury Department are issuing temporary regulations relating to foreign base company sales income, in cases in which personal property sold by a controlled foreign corporation (CFC) is manufactured, produced, or constructed pursuant to a contract manufacturing arrangement or by one or more branches of the CFC. The temporary regulations modify the foreign base company sales income regulations to address current business structures and practices, particularly the growing importance of contract manufacturing and other manufacturing arrangements. The temporary regulations, in general, will affect CFCs and their United States shareholders. The text of the temporary regulations also serves as the text of the proposed regulations. This document also provides notice of a public hearing.
Guidance Regarding Foreign Base Company Sales Income
Document Number: E8-30727
Type: Rule
Date: 2008-12-29
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final and temporary regulations that provide guidance relating to foreign base company sales income in cases in which personal property sold by a controlled foreign corporation is manufactured, produced, or constructed pursuant to a contract manufacturing arrangement or by one or more branches of the controlled foreign corporation. These regulations modify the foreign base company sales income regulations to address current business structures and practices, particularly the growing importance of contract manufacturing and other manufacturing arrangements. These regulations, in general, will affect controlled foreign corporations and their United States shareholders. The text of the 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.
Consolidated Returns; Intercompany Obligations
Document Number: E8-30718
Type: Rule
Date: 2008-12-29
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations under section 1502 of the Internal Revenue Code (Code). The regulations provide guidance regarding the treatment of transactions involving obligations between members of a consolidated group. These final regulations will affect affiliated groups of corporations filing consolidated returns.
Disclosure of Return Information to the Bureau of Economic Analysis
Document Number: E8-30599
Type: Rule
Date: 2008-12-29
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations relating to disclosures of corporate tax return information to the Bureau of Economic Analysis (Bureau). The final regulations authorize the IRS to disclose certain items of corporate tax return information to the Secretary of Commerce for purposes of structuring United States national economic accounts and conducting related statistical activities authorized by law. The final regulations facilitate the assistance of the IRS to the Bureau in its statistics programs, require no action by taxpayers, and have no effect on their tax liabilities.
Employer's Annual Federal Tax Return and Modifications to the Deposit Rules
Document Number: E8-30592
Type: Proposed Rule
Date: 2008-12-29
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document revises the notice of proposed rulemaking published in the Federal Register on January 3, 2006. In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations relating to the annual filing of Federal employment tax returns and requirements for employment tax deposits under sections 6011 and 6302 of the Internal Revenue Code (Code). Those temporary regulations generally allow certain employers to file a Form 944, ``Employer's ANNUAL Federal Tax Return,'' rather than Form 941, ``Employer's QUARTERLY Federal Tax Return.'' In addition to rules related to Form 944, those temporary regulations provide an additional method for employers who file Form 941 to determine whether the amount of accumulated employment taxes is considered de minimis. The temporary and proposed regulations affect taxpayers that file Form 941, ``Employer's QUARTERLY Federal Tax Return,'' Form 944, ``Employer's ANNUAL Federal Tax Return,'' and any related Spanish-language returns or returns for U.S. possessions. The text of those regulations also serves as the text of these proposed regulations.
Employer's Annual Federal Tax Return and Modifications to the Deposit Rules
Document Number: E8-30582
Type: Rule
Date: 2008-12-29
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains temporary regulations relating to the annual filing of Federal employment tax returns and requirements for employment tax deposits. These temporary regulations relate to sections 6011 and 6302 of the Internal Revenue Code (Code) concerning reporting and paying income taxes withheld from wages and reporting and paying taxes under the Federal Insurance Contributions Act (FICA) (collectively, ``employment taxes''). These temporary regulations generally allow certain employers to file a Form 944, ``Employer's ANNUAL Federal Tax Return,'' rather than Form 941, ``Employer's QUARTERLY Federal Tax Return.'' In addition to rules related to Form 944, the temporary regulations provide an additional method for employers who file Form 941 to determine whether the amount of accumulated employment taxes is considered de minimis. The portions of this document that are final regulations provide necessary cross-references to the temporary regulations. The text of these temporary regulations also serves as the text of the proposed regulations set forth in the Proposed Rules section in this issue of the Federal Register.
Creditor Continuity of Interest; Correction
Document Number: E8-30717
Type: Rule
Date: 2008-12-24
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains a correction to final regulations (TD 9434) that were published in the Federal Register on Friday, December 12, 2008 (73 FR 75566) providing guidance regarding when and to what extent creditors of a corporation will be treated as proprietors of the corporation in determining whether continuity of interest (''COI'') is preserved in a potential reorganization. These final regulations are necessary to provide clarity to parties engaging in reorganizations of insolvent corporations, both inside and outside of bankruptcy. These final regulations affect corporations, their creditors, and their shareholders.
Creditor Continuity of Interest; Correction
Document Number: E8-30716
Type: Rule
Date: 2008-12-24
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains a correction to final regulations (TD 9434) that were published in the Federal Register on Friday, December 12, 2008 (73 FR75566) providing guidance regarding when and to what extent creditors of a corporation will be treated as proprietors of the corporation in determining whether continuity of interest (``COI'') is preserved in a potential reorganization. These final regulations are necessary to provide clarity to parties engaging in reorganizations of insolvent corporations, both inside and outside of bankruptcy. These final regulations affect corporations, their creditors, and their shareholders.
Open Meeting of the Financial Literacy and Education Commission
Document Number: E8-30653
Type: Notice
Date: 2008-12-24
Agency: Department of the Treasury, Department of Treasury
This notice announces the sixteenth meeting of the Financial Literacy and Education Commission, established by the Financial Literacy and Education Improvement Act (Title V of the Fair and Accurate Credit Transactions Act of 2003).
Proposed Agency Information Collection Activities; Comment Request
Document Number: E8-30555
Type: Notice
Date: 2008-12-23
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
In accordance with the requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35), the OCC, the Board, the FDIC, and the OTS (the ``agencies'') may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The Federal Financial Institutions Examination Council (FFIEC), of which the agencies are members, has approved the agencies' publication for public comment of a proposal to extend, with revision, the Consolidated Reports of Condition and Income (Call Report) for banks, the Thrift Financial Report (TFR) for savings associations, the Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks (FFIEC 002), and the Report of Assets and Liabilities of a Non-U.S. Branch that is Managed or Controlled by a U.S. Branch or Agency of a Foreign (Non-U.S.) Bank (FFIEC 002S), all of which are currently approved collections of information. At the end of the comment period, the comments and recommendations received will be analyzed to determine the extent to which the FFIEC and the agencies should modify the proposed revisions prior to giving final approval. The agencies will then submit the revisions to OMB for review and approval.
Global Terrorism Sanctions Regulations; Terrorism Sanctions Regulations; Foreign Terrorist Organizations Sanctions Regulations
Document Number: E8-30532
Type: Rule
Date: 2008-12-23
Agency: Department of the Treasury, Office of Foreign Assets Control, Foreign Assets Control Office, Department of Treasury
The Office of Foreign Assets Control of the U.S. Department of the Treasury (``OFAC'') is amending the Global Terrorism Sanctions Regulations and the Terrorism Sanctions Regulations to expand the scope of authorizations in each of those programs for the provision of certain legal services. Similarly, OFAC is amending the Foreign Terrorist Organizations Sanctions Regulations to expand the scope of a statement of licensing policy concerning payment for certain legal services.
Submission for OMB Review; Comment Request
Document Number: E8-30522
Type: Notice
Date: 2008-12-23
Agency: Department of the Treasury, Department of Treasury
Community Reinvestment Act Regulations
Document Number: E8-30433
Type: Rule
Date: 2008-12-22
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency, Department of the Treasury, Office of Thrift Supervision
The OCC, the Board, the FDIC, and the OTS (collectively, the ``agencies'') are amending their Community Reinvestment Act (CRA) regulations to adjust the asset-size thresholds used to define ``small bank'' or ``small savings association'' and ``intermediate small bank'' or ``intermediate small savings association.'' As required by the CRA regulations, the adjustment to the threshold amount is based on the annual percentage change in the Consumer Price Index.
Notice of Meeting Cancellation of the Advisory Committee on the Ten-Year Framework for Energy and Environment Cooperation With China
Document Number: E8-30352
Type: Notice
Date: 2008-12-22
Agency: Department of the Treasury
The Department of Treasury's Advisory Committee on the Ten- Year Framework for Energy and Environment Cooperation with China did not convene its first meeting on Monday, December 1, 2008 due to scheduling conflicts.
Proposed Collection; Comment Request for Regulation Project
Document Number: E8-30307
Type: Notice
Date: 2008-12-22
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 an existing final regulation, REG-209709-94 (TD 8865), Amortization of Intangible Property (Sec. 1.197-2).
Proposed Collection; Comment Request for Revenue Procedure 97-15
Document Number: E8-30305
Type: Notice
Date: 2008-12-22
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 Revenue Procedure 97-15, section 103-Remedial Payment Closing Agreement Program.
Section 6707 and the Failure To Furnish Information Regarding Reportable Transactions
Document Number: E8-30303
Type: Proposed Rule
Date: 2008-12-22
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations under section 6707 of the Internal Revenue Code (Code), which provide the rules relating to the assessment of penalties against material advisors who fail to timely file a true and complete return required under section 6111(a). The regulations implement the amendments to section 6707 by the American Jobs Creation Act and promote material advisors' compliance with the regulations under section 6111. These regulations affect material advisors responsible for disclosing reportable transactions under section 6111.
Conduit Financing Arrangements
Document Number: E8-30301
Type: Proposed Rule
Date: 2008-12-22
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations relating to conduit financing arrangements issued under the authority granted by section 7701(l) of the Internal Revenue Code (Code). The proposed regulations apply to multiple-party financing arrangements that are effected through disregarded entities, and are necessary in order to determine which of those arrangements should be recharacterized under section 7701(l) and Treas. Reg. Sec. 1.881-3.
Proposed Collection; Comment Request for Notice 2005-64
Document Number: E8-30285
Type: Notice
Date: 2008-12-22
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 Notice 2005-64, Foreign Tax Credit and Other Guidance under Section 965.
Tax Return Preparer Penalties Under Sections 6694 and 6695
Document Number: E8-29750
Type: Rule
Date: 2008-12-22
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations implementing amendments to the tax return preparer penalties under sections 6694 and 6695 of the Internal Revenue Code (Code) and related provisions under sections 6060, 6107, 6109, 6696, and 7701(a)(36) reflecting amendments to the Code made by section 8246 of the Small Business and Work Opportunity Tax Act of 2007 and section 506 of the Tax Extenders and Alternative Minimum Tax Relief Act of 2008. The final regulations affect tax return preparers and provide guidance regarding the amended provisions.
Open Meeting of the President's Advisory Council on Financial Literacy
Document Number: E8-30282
Type: Notice
Date: 2008-12-19
Agency: Department of the Treasury, Department of Treasury
The President's Advisory Council on Financial Literacy will convene its seventh meeting on Tuesday, January 6, 2009, beginning at 2 p.m. Eastern Time. The meeting will be open to the public.
Submission for OMB Review; Comment Request
Document Number: E8-30204
Type: Notice
Date: 2008-12-19
Agency: Department of the Treasury, Department of Treasury
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: E8-30131
Type: Notice
Date: 2008-12-19
Agency: Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Comptroller of the Currency
The OCC, 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 a continuing information collection, as required by the Paperwork Reduction Act of 1995. An agency may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid OMB control number. The OCC is soliciting comment concerning its information collection titled, ``Fiduciary Activities of National Banks12 CFR part 9.'' The OCC is also giving notice that it has submitted the collection to OMB for review.
Technical Amendments
Document Number: E8-30021
Type: Rule
Date: 2008-12-18
Agency: Department of the Treasury, Office of Thrift Supervision, Thrift Supervision Office, Department of Treasury
The Office of Thrift Supervision (OTS) is amending its regulations to incorporate technical and conforming amendments. They include clarifications and corrections of typographical errors.
Federal Family Education Loan Program (FFELP)
Document Number: E8-30009
Type: Notice
Date: 2008-12-18
Agency: Management and Budget Office, Department of the Treasury, Department of Education
On December 2, 2008, the Department of Education, the Department of the Treasury, and the Office of Management and Budget (collectively, ``Secretaries and Director'') jointly published a notice in the Federal Register (73 FR 73263) announcing the terms and conditions under which the Department will purchase loans pursuant to section 459A of the Higher Education Act of 1965, as amended (HEA), enacted by the Ensuring Continued Access to Student Loans Act of 2008 (Pub. L. 110-227) and amended by Public Law 110-315 and Public Law 110- 350 (December 2 Notice). The terms and conditions announced in the December 2 Notice apply to the purchase of Federal Family Education Loan Program (``FFELP'') loans made for the 2007-2008 academic year (the ``Short-term Purchase Program''). Included as an appendix to the December 2 Notice was the Master Loan Sale Agreement under which these purchases will be made. This notice makes three corrections to the December 2 Notice.
Submission for OMB Review; Comment Request
Document Number: E8-29925
Type: Notice
Date: 2008-12-17
Agency: Department of the Treasury, Department of Treasury
Voluntary Dissolution
Document Number: E8-29834
Type: Notice
Date: 2008-12-17
Agency: Department of the Treasury, Office of Thrift Supervision, Thrift Supervision Office, Department of Treasury
The proposed information collection request (ICR) described below has been submitted to the Office of Management and Budget (OMB) for review and approval, as required by the Paperwork Reduction Act of 1995. OTS is soliciting public comments on the proposal.
Amendments to the Section 7216 Regulations-Disclosure or Use of Information by Preparers of Returns
Document Number: E8-29770
Type: Rule
Date: 2008-12-16
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations that provide rules relating to the disclosure and use of tax return information by tax return preparers. These regulations affect tax return preparers and provide updated guidance regarding the disclosure of a taxpayer's social security number to a tax return preparer located outside of the United States.
Submission for OMB Review; Comment Request
Document Number: E8-29739
Type: Notice
Date: 2008-12-16
Agency: Department of the Treasury, Department of Treasury
Submission for OMB Review; Comment Request
Document Number: E8-29738
Type: Notice
Date: 2008-12-16
Agency: Department of the Treasury, Department of Treasury
Proposed Collection: Comment Request
Document Number: E8-29445
Type: Notice
Date: 2008-12-16
Agency: Department of the Treasury, Bureau of the Public Debt, Public Debt Bureau, Department of 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 Bureau of the Public Debt within the Department of the Treasury is soliciting comments concerning the Application for Relief on Account of Loss, Theft, or Destruction of United States Savings and Retirement Securities and Supplemental Statement Concerning United States Securities.
Proposed Collection: Comment Request
Document Number: E8-29444
Type: Notice
Date: 2008-12-16
Agency: Department of the Treasury, Bureau of the Public Debt, Public Debt Bureau, Department of 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 Bureau of the Public Debt within the Department of the Treasury is soliciting comments concerning the Application By Voluntary Guardian of Incapacitated Owner of United States Savings Bonds/Notes.
Additional Designation of Individuals Pursuant to Executive Order 13224
Document Number: E8-29596
Type: Notice
Date: 2008-12-15
Agency: Department of the Treasury, Office of Foreign Assets Control, Foreign Assets Control Office, Department of Treasury
The Treasury Department's Office of Foreign Assets Control (``OFAC'') is publishing the names of three newly designated individuals whose property and interests in property are blocked pursuant to Executive Order 13224 of September 23, 2001, ``Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten To Commit, or Support Terrorism.''
Submission for OMB Review; Comment Request
Document Number: E8-29548
Type: Notice
Date: 2008-12-15
Agency: Department of the Treasury, Department of Treasury
Guidance Regarding the Treatment of Stock of a Controlled Corporation Under Section 355(a)(3)(B)
Document Number: E8-29545
Type: Proposed Rule
Date: 2008-12-15
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 temporary regulations giving guidance regarding the distribution of stock of a controlled corporation acquired in a transaction described in section 355(a)(3)(B) of the Internal Revenue Code. This action is necessary in light of amendments to section 355(b). The text of those regulations also serves as the text of these proposed regulations. These regulations will affect corporations and their shareholders.
Guidance Regarding the Treatment of Stock of a Controlled Corporation Under Section 355(a)(3)(B)
Document Number: E8-29544
Type: Rule
Date: 2008-12-15
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final and temporary regulations that provide guidance regarding the distribution of stock of a controlled corporation acquired in a transaction described in section 355(a)(3)(B) of the Internal Revenue Code (Code). This action is necessary in light of amendments to section 355(b). These temporary regulations will affect corporations and their shareholders. 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.
Collateral Acceptability and Valuation
Document Number: E8-29440
Type: Rule
Date: 2008-12-12
Agency: Fiscal Service, Public Debt Bureau, Department of Treasury, Department of the Treasury
The Department of the Treasury is amending regulations that govern the acceptability and valuation of collateral pledged to secure deposits of public monies and other financial interests of the government under Treasury's three Fiscal Service collateral programs. This final rule is a nonsubstantive, technical amendment that updates a Web site and a postal mailing address referenced in those regulations.
Submission for OMB Review; Comment Request
Document Number: E8-29422
Type: Notice
Date: 2008-12-12
Agency: Department of the Treasury, Department of Treasury
Creditor Continuity of Interest
Document Number: E8-29271
Type: Rule
Date: 2008-12-12
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations providing guidance regarding when and to what extent creditors of a corporation will be treated as proprietors of the corporation in determining whether continuity of interest (``COI'') is preserved in a potential reorganization. These final regulations are necessary to provide clarity to parties engaging in reorganizations of insolvent corporations, both inside and outside of bankruptcy. These final regulations affect corporations, their creditors, and their shareholders.
Information Reporting for Discharges of Indebtedness; Correction
Document Number: E8-29276
Type: Rule
Date: 2008-12-11
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains a correction to final and temporary regulations (TD 9430) that were published in the Federal Register on Monday, November 10, 2008 (73 FR 66539) relating to information returns for cancellation of indebtedness by certain entities. The temporary regulations will avoid premature information reporting from certain businesses that are currently required to report and will reduce the number of information returns required to be filed. The temporary regulations will impact certain lenders who are currently required to file information returns under the existing regulations.
Information Reporting for Discharges of Indebtedness; Correction
Document Number: E8-29273
Type: Rule
Date: 2008-12-11
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains a correction to final and temporary regulations (TD 9430) that were published in the Federal Register on Monday, November 10, 2008 (73 FR 66539) relating to information returns for cancellation of indebtedness by certain entities. The temporary regulations will avoid premature information reporting from certain businesses that are currently required to report and will reduce the number of information returns required to be filed. The temporary regulations will impact certain lenders who are currently required to file information returns under the existing regulations.