Department of Treasury April 7, 2008 – Federal Register Recent Federal Regulation Documents

Proposed Collection; Comment Request for Form 843
Document Number: E8-7228
Type: Notice
Date: 2008-04-07
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 843, Claim for Refund and Request for Abatement.
Proposed Collection; Comment Request for Form 3115
Document Number: E8-7227
Type: Notice
Date: 2008-04-07
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 3115, Application for Change in Accounting Method.
Application of Normalization Accounting Rules to Balances of Excess Deferred Income Taxes and Accumulated Deferred Investment Tax Credits of Public Utilities Whose Assets Cease To Be Public Utility Property; Correction
Document Number: E8-7226
Type: Rule
Date: 2008-04-07
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains a correction to final regulations (TD 9387) that were published in the Federal Register on Thursday, March 20, 2008 (73 FR 14934), providing guidance on the normalization requirements applicable to public utilities that benefit (or have benefited) from accelerated depreciation methods or from the investment tax credit permitted under pre-1991 law. These regulations permit a utility whose assets cease, whether by disposition, deregulation, or otherwise, to be public utility property with respect to the utility (deregulated public utility property) to return to its ratepayers the normalization reserve for excess deferred income taxes (EDFIT) with respect to those assets and, in certain circumstances, also permit the return of part or all of the reserve for accumulated deferred investment tax credits (ADITC) with respect to those assets.
Guidance Under Section 664 Regarding the Effect of Unrelated Business Taxable Income on Charitable Remainder Trusts; Hearing
Document Number: E8-7225
Type: Proposed Rule
Date: 2008-04-07
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document cancels a public hearing on proposed rulemaking providing guidance under Internal Revenue Code section 664 on the tax effect of unrelated business taxable income (UBTI) on charitable remainder trusts.
Employment Tax Adjustments; Hearing
Document Number: E8-7224
Type: Proposed Rule
Date: 2008-04-07
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document cancels a public hearing on proposed rulemaking relating to employment tax adjustments and employment tax refund claims.
Information Returns by Donees Relating to Qualified Intellectual Property Contributions
Document Number: E8-7223
Type: Rule
Date: 2008-04-07
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations that provide guidance for filing information returns by donees relating to qualified intellectual property contributions. These final regulations reflect changes to the law made in 2004. The regulations affect donees receiving net income from qualified intellectual property contributions made after June 3, 2004.
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