Department of the Treasury March 27, 2012 – Federal Register Recent Federal Regulation Documents

This document contains corrections to a notice of proposed rulemaking (REG-168745-03), which was published in the Federal Register relating to sections 162, and 263, providing guidance on the deduction and capitalization of expenditures related to tangible property.

On January 6, 2012, the United States Mint announced 2012 prices for nine products featuring $1 coins, including a $1 Coin Five- Coin Set, priced at $12.95. This notice is to announce that a Presidential $1 Four-Coin Set, priced at $9.95, will be offered instead of the $1 Coin Five-Coin Set. All of the other $1 coin products and their prices announced on January 6, 2012, will remain as United States Mint offerings. The complete $1 coin product list with prices is as follows:

U.S. Customs and Border Protection (CBP) is proposing to revise its regulations regarding U.S. returning residents who are eligible to file a single customs declaration for members of a family traveling together upon arrival in the United States. Specifically, CBP is proposing to expand the definition of the term ``members of a family residing in one household'' to allow more U.S. returning residents to file a family customs declaration for articles acquired abroad. CBP anticipates that this proposed change will reduce the amount of paperwork that CBP officers would need to review during inspection and, therefore, facilitate passenger processing. CBP believes that this proposed change would more accurately reflect relationships between members of the public who are traveling together as a family.