Department of the Treasury September 5, 2012 – Federal Register Recent Federal Regulation Documents

Allocation of Costs Under the Simplified Methods
Document Number: 2012-21743
Type: Proposed Rule
Date: 2012-09-05
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations on allocating costs to certain property produced by the taxpayer or acquired by the taxpayer for resale. The proposed regulations affect taxpayers that are producers or resellers of property that are required to capitalize certain costs to the property and that allocate costs under the simplified production method or the simplified resale method. The proposed regulations provide rules for the treatment of negative additional costs.
Price for the 2012 Annual Uncirculated Dollar Coin Set
Document Number: 2012-21739
Type: Notice
Date: 2012-09-05
Agency: United States Mint, Department of Treasury, Department of the Treasury
The United States Mint is announcing a price of $54.95 for the 2012 Annual Uncirculated Dollar Coin Set. This set contains the following uncirculated coins: four Presidential $1 Coins, one Native American $1 Coin, and one American Eagle Silver Coin.
Appraisals for Higher-Risk Mortgage Loans
Document Number: 2012-20432
Type: Proposed Rule
Date: 2012-09-05
Agency: National Credit Union Administration, Agencies and Commissions, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Federal Housing Finance Agency, Bureau of Consumer Financial Protection, Board of Governors of the Federal Reserve System
The Board, Bureau, FDIC, FHFA, NCUA, and OCC (collectively, the Agencies) are proposing to amend Regulation Z, which implements the Truth in Lending Act (TILA), and the official interpretation to the regulation. The proposed revisions to Regulation Z would implement a new TILA provision requiring appraisals for ``higher-risk mortgages'' that was added to TILA as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. For mortgages with an annual percentage rate that exceeds the average prime offer rate by a specified percentage, the proposed rule would require creditors to obtain an appraisal or appraisals meeting certain specified standards, provide applicants with a notification regarding the use of the appraisals, and give applicants a copy of the written appraisals used.
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