Department of Treasury 2011 – Federal Register Recent Federal Regulation Documents

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Treasury Inflation-Protected Securities Issued at a Premium
Document Number: 2011-31179
Type: Rule
Date: 2011-12-05
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains temporary regulations that provide guidance on the tax treatment of Treasury Inflation-Protected Securities issued with more than a de minimis amount of premium. The text of these temporary regulations also serves as the text of the proposed regulations (REG-130777-11) set forth in the Proposed Rules section in this issue of the Federal Register.
Treasury Inflation-Protected Securities Issued at a Premium
Document Number: 2011-31176
Type: Proposed Rule
Date: 2011-12-05
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 that provide guidance on the tax treatment of Treasury Inflation-Protected Securities issued with more than a de minimis amount of premium. The text of those regulations also serves as the text of these proposed regulations. This document also provides notice of a public hearing on these proposed regulations.
Targeted Populations Under Section 45D(e)(2)
Document Number: 2011-31169
Type: Rule
Date: 2011-12-05
Agency: Internal Revenue Service, Department of Treasury
This document contains final regulations relating to how an entity serving certain targeted populations can meet the requirements to be a qualified active low-income community business for the new markets tax credit. The regulations reflect changes to the law made by the American Jobs Creation Act of 2004. The regulations will affect certain taxpayers claiming the new markets tax credit.
Revisions to Distilled Spirits Plant Operations Reports and Regulations
Document Number: 2011-31142
Type: Proposed Rule
Date: 2011-12-05
Agency: Alcohol and Tobacco Tax and Trade Bureau, Department of Treasury, Department of the Treasury
The Alcohol and Tobacco Tax and Trade Bureau (TTB) proposes to replace the current four report forms used by distilled spirits plants to report their operations with two new report forms that would be submitted on a monthly or quarterly basis. This proposal would streamline the reporting process and would result in savings for the industry and for TTB by significantly reducing the number of reports that must be completed and filed by industry members and processed by TTB.
Proposed Establishment of the Inwood Valley Viticultural Area
Document Number: 2011-31141
Type: Proposed Rule
Date: 2011-12-05
Agency: Alcohol and Tobacco Tax and Trade Bureau, Department of Treasury, Department of the Treasury
The Alcohol and Tobacco Tax and Trade Bureau (TTB) proposes to establish the 28,298-acre ``Inwood Valley'' viticultural area in Shasta County, California. TTB designates viticultural areas to allow vintners to better describe the origin of their wines and to allow consumers to better identify wines they may purchase. TTB invites comments on this proposed addition to its regulations.
Privacy Act of 1974, as Amended
Document Number: 2011-30898
Type: Notice
Date: 2011-12-01
Agency: Alcohol and Tobacco Tax and Trade Bureau, Department of Treasury, Department of the Treasury
In accordance with the requirements of the Privacy Act of 1974, as amended, 5 U.S.C. 552a, the Alcohol and Tobacco Tax and Trade Bureau, Department of the Treasury, is publishing its inventory of Privacy Act systems of records.
Proposed Collection; Comment Request for Regulation Project
Document Number: 2011-30802
Type: Notice
Date: 2011-11-30
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 Qualified Electing Fund Elections.
Proposed Collection; Comment Request for Regulation Project
Document Number: 2011-30801
Type: Notice
Date: 2011-11-30
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 Excise Tax Under Section 4980B, 4980D, 4980E & 4980G.
Proposed Collection; Comment Request for Form 1127A
Document Number: 2011-30800
Type: Notice
Date: 2011-11-30
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 1127A, Application for Extension of Time for Payment of Tax Due to Undue Hardship.
Proposed Collection; Comment Request for Form 4810
Document Number: 2011-30799
Type: Notice
Date: 2011-11-30
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 4810, Request for Prompt Assessment Under Internal Revenue Code Section 6501(d).
Proposed Collection; Comment Request for Regulation Project
Document Number: 2011-30797
Type: Notice
Date: 2011-11-30
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 Inspection of Applications for Tax Exemption and Applications for Determination Letters for Pension and Other Plans.
Proposed Collection; Comment Request for Revenue Procedure 97-15
Document Number: 2011-30791
Type: Notice
Date: 2011-11-30
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 Section 103Remedial Payment Closing Agreement Program.
Alternatives to the Use of External Credit Ratings in the Regulations of the OCC
Document Number: 2011-30428
Type: Proposed Rule
Date: 2011-11-29
Agency: Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
Section 939A of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) contains two directives to Federal agencies including the OCC. First, section 939A directs all Federal agencies to review, no later than one year after enactment, any regulation that requires the use of an assessment of creditworthiness of a security or money market instrument and any references to, or requirements in, such regulations regarding credit ratings. Second, the agencies are required to remove any references to, or requirements of reliance on, credit ratings and substitute such standard of credit- worthiness as each agency determines is appropriate. The statute further provides that the agencies shall seek to establish, to the extent feasible, uniform standards of creditworthiness, taking into account the entities the agencies regulate and the purposes for which those entities would rely on such standards. Through this notice of proposed rulemaking (NPRM), the OCC seeks comment on a proposal to revise its regulations pertaining to investment securities, securities offerings, and foreign bank capital equivalency deposits to replace references to credit ratings with alternative standards of creditworthiness. The OCC also is proposing to amend its regulations pertaining to financial subsidiaries of national banks to better reflect the language of the underlying statute, as amended by section 939(d) of the Dodd- Frank Act.
Guidance on Due Diligence Requirements in Determining Whether Investment Securities Are Eligible for Investment
Document Number: 2011-30420
Type: Notice
Date: 2011-11-29
Agency: Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The Office of the Comptroller of the Currency (OCC) is proposing guidance to assist national banks and Federal savings associations in meeting due diligence requirements in assessing credit risk for portfolio investments.
Passive Activity Losses and Credits Limited
Document Number: 2011-30611
Type: Proposed Rule
Date: 2011-11-28
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations regarding the definition of an ``interest in a limited partnership as a limited partner'' for purposes of determining whether a taxpayer materially participates in an activity under section 469 of the Internal Revenue Code (Code). These proposed regulations affect individuals who are partners in partnerships.
Citizens Coinage Advisory Committee November 29, 2011; Public Meeting
Document Number: 2011-30469
Type: Notice
Date: 2011-11-28
Agency: United States Mint, Department of Treasury, Department of the Treasury
Pursuant to United States Code, Title 31, section 5135(b)(8)(C), the United States Mint announces the Citizens Coinage Advisory Committee (CCAC) public meeting scheduled for November 29, 2011. Date: November 29, 2011. Time: 9 a.m. to 5 p.m. Location: Conference Room A, United States Mint, 801 9th Street NW., Washington, DC 20220. Subject: Review and consideration of reverse candidate designs for the 2013 America the Beautiful Quarters[supreg] Program Coins; review and consideration of candidate designs for the 2012 First Spouse Gold Coins and Bronze Medals honoring Alice Paul (with a reverse representative of the suffrage movement), Frances Cleveland and Caroline Harrison; review and consideration of reverse candidate designs for 2012 American Eagle Platinum Coin program; and discussion of the 2011 Annual Report. Interested persons should call the CCAC HOTLINE at (202) 354-7502 for the latest update on meeting time and room location. In accordance with 31 U.S.C. Sec. 5135, the CCAC: Advises the Secretary of the Treasury on any theme or design proposals relating to circulating coinage, bullion coinage, Congressional Gold Medals, and national and other medals. Advises the Secretary of the Treasury with regard to the events, persons, or places to be commemorated by the issuance of commemorative coins in each of the five calendar years succeeding the year in which a commemorative coin designation is made. Makes recommendations with respect to the mintage level for any commemorative coin recommended.
Proposed Collection; Comment Request for Regulation Project
Document Number: 2011-30419
Type: Notice
Date: 2011-11-25
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)). The IRS is soliciting comments concerning information collection requirements related to real estate mortgage conduits; reporting requirements and other administrative matters; and allocation of allocable investment expense; original issue discount reporting requirements.
Proposed Collection; Comment Request for Revenue Procedure
Document Number: 2011-30414
Type: Notice
Date: 2011-11-25
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)). The IRS is soliciting comments concerning information collection requirements related to and disclosure with the SEC.
Proposed Collection; Comment Request for Form 8952
Document Number: 2011-30413
Type: Notice
Date: 2011-11-25
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 8952, Application for Voluntary Classification Settlement Program.
Proposed Collection; Comment Request for Revenue Procedure
Document Number: 2011-30410
Type: Notice
Date: 2011-11-25
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)). The IRS is soliciting comments concerning information collection requirements related to election involving the repeal of the bonding requirement.
User Fee To Take the Registered Tax Return Preparer Competency Examination
Document Number: 2011-30388
Type: Rule
Date: 2011-11-25
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains amendments to the user fee regulations. The final regulations redesignate rules pertaining to fees for obtaining a preparer tax identification number. These final regulations also establish a user fee for individuals to take the registered tax return preparer competency examination. The final regulations affect individuals who take the registered tax return preparer competency examination. The charging of user fees is authorized by the Independent Offices Appropriations Act of 1952.
Basis Reporting by Securities Brokers and Basis Determination for Debt Instruments and Options
Document Number: 2011-30383
Type: Proposed Rule
Date: 2011-11-25
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations relating to reporting by brokers for transactions related to debt instruments and options. The proposed regulations reflect changes in the law made by the Energy Improvement and Extension Act of 2008 (the Act) that require brokers when reporting the sale of securities to the IRS to include the customer's adjusted basis in the sold securities and to classify any gain or loss as long-term or short-term. The proposed regulations also implement the Act's requirement that a broker report gross proceeds from a sale or closing transaction with respect to certain options. In addition, this document contains proposed regulations that implement reporting requirements for a transfer of a debt instrument or an option to another broker and for an organizational action that affects the basis of a debt instrument or option. This document also provides for a notice of a public hearing on these proposed regulations.
Proposed Information Collection; Comment Request
Document Number: 2011-30310
Type: Notice
Date: 2011-11-25
Agency: Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
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. Currently, the OCC is soliciting comment concerning its extension, without change, of an information collection titled, ``Release of Non-Public Information12 CFR 4, Subpart C.''
Application of the Segregation Rules to Small Shareholders
Document Number: 2011-30290
Type: Proposed Rule
Date: 2011-11-23
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations under section 382 of the Internal Revenue Code (Code). These proposed regulations provide guidance regarding the application of the segregation rules to public groups under section 382 of the Code. These regulations affect corporations.
Agency Information Collection Activities: Proposed Collection; Comment Request
Document Number: 2011-30215
Type: Notice
Date: 2011-11-23
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
In accordance with the requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35), the OCC, the Board, and the FDIC (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, without revision, the Country Exposure Report (FFIEC 009) and the Country Exposure Information Report (FFIEC 009a), which are currently approved information collections. At the end of the comment period, the comments and recommendations received will be analyzed to determine the extent to which the FFIEC should modify the reports. The agencies will then submit the reports to OMB for review and approval.
Income of Foreign Governments and International Organizations; Correction
Document Number: 2011-30171
Type: Proposed Rule
Date: 2011-11-23
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to a notice of proposed regulations that were published in the Federal Register on Thursday, November 3, 2011. These regulations provide guidance relating to the taxation of the income of foreign governments from investments in the United States. The regulations affect foreign governments that derive income from sources within the United States.
Proposed Collection; Comment Request for Form 2290/SP/FR
Document Number: 2011-30161
Type: Notice
Date: 2011-11-23
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 2290/SP/FR Heavy Highway Vehicle Use Tax Return.
Rate for Use in Federal Debt Collection and Discount and Rebate Evaluation
Document Number: 2011-30160
Type: Notice
Date: 2011-11-23
Agency: Fiscal Service, Public Debt Bureau, Department of Treasury, Department of the Treasury
Pursuant to Section 11 of the Debt Collection Act of 1982, as amended, (31 U.S.C. 3717), the Secretary of the Treasury is responsible for computing and publishing the percentage rate to be used in assessing interest charges for outstanding debts owed to the Government. Treasury's Cash Management Requirements (TFM Volume I, Part 6, Chapter 8000) prescribe use of this rate by agencies as a comparison point in evaluating the cost-effectiveness of a cash discount. In addition, 5 CFR 1315.8 of the Prompt Payment rule on ``Rebates'' requires that this rate be used in determining when agencies should pay purchase card invoices when the card issuer offers a rebate. Notice is hereby given that the applicable rate is 1.00 percent for calendar year 2012.
Agency Information Collection Activity; Proposed Collection
Document Number: 2011-30157
Type: Notice
Date: 2011-11-23
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)).
Proposed Agency Information Collection Activities; Comment Request
Document Number: 2011-29951
Type: Notice
Date: 2011-11-21
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
In accordance with the requirements of the Paperwork Reduction Act (PRA) of 1995 (44 U.S.C. chapter 35), the OCC, the Board, and the FDIC (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), which are currently approved collections of information. The proposed new data items would be added to the Call Report as of the June 30, 2012, report date, except for two proposed revisions that would take effect March 31, 2012, in connection with the initial filing of Call Reports by savings associations. In addition, proposed instructional changes would take effect March 31, 2012. 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.
Corporate Reorganizations; Allocation of Basis in “All Cash D” Reorganizations
Document Number: 2011-29799
Type: Rule
Date: 2011-11-21
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains temporary regulations regarding the determination of the basis of stock or securities in a reorganization where no stock or securities of the issuing corporation is issued and distributed in the transaction. These temporary regulations clarify that, in certain reorganizations where no stock or securities of the issuing corporation is issued and distributed in the transaction, the ability to designate the share of stock of the issuing corporation to which the basis, if any, of the stock or securities surrendered will attach applies only to a shareholder that owns actual shares in the issuing corporation. These temporary regulations affect corporations engaging in such transactions and their 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.
Corporate Reorganizations; Allocation of Basis in “All Cash D” Reorganizations
Document Number: 2011-29794
Type: Proposed Rule
Date: 2011-11-21
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 that provide guidance regarding the determination of the basis of stock or securities in a reorganization where no stock or securities of the issuing corporation is issued and distributed in the transaction. These regulations clarify that, in certain reorganizations where no stock or securities of the issuing corporation is issued and distributed in the transaction, the ability to designate the share of stock of the issuing corporation to which the basis, if any, of the stock or securities surrendered will attach applies only to a shareholder that owns actual shares in the issuing corporation. These regulations affect corporations engaging in such transactions and their shareholders. The text of those temporary regulations published in this issue of the Federal Register also serves as the text of these proposed regulations.
Deduction for Qualified Film and Television Production Costs; Correction
Document Number: 2011-29922
Type: Rule
Date: 2011-11-18
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains a correction to final and temporary regulations (TD 9552) that were published in the Federal Register on Wednesday, October 19, 2011 (76 FR 64816) relating to deductions for the cost of producing film and television productions.
Gross Estate; Election to Value on Alternate Valuation Date
Document Number: 2011-29921
Type: Proposed Rule
Date: 2011-11-18
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations that provide guidance respecting the election to use the alternate valuation method under section 2032 of the Internal Revenue Code (Code). The proposed regulations will affect estates that file Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return and elect to use the alternate valuation method. This document also provides notice of a public hearing on these proposed regulations.
Proposed Collection; Comment Request for Form 1099-SA
Document Number: 2011-29796
Type: Notice
Date: 2011-11-18
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 1099-SA, Distributions From an HSA, Archer MSA or Medical Advantage MSA.
Proposed Collection; Comment Request for Notice 2011-60
Document Number: 2011-29793
Type: Notice
Date: 2011-11-18
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 2011-60, North Dakota Low-Income Housing Relief Credit.
Proposed Collection; Comment Request for Form 8892
Document Number: 2011-29791
Type: Notice
Date: 2011-11-18
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 8892, Payment of Gift/GST Tax and/or Application for Extension to File Form 709.
Publication of the Tier 2 Tax Rates
Document Number: 2011-29789
Type: Notice
Date: 2011-11-18
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
Publication of the tier 2 tax rates for calendar year 2012 as required by section 3241(d) of the Internal Revenue Code (26 U.S.C. section 3241). Tier 2 taxes on railroad employees, employers, and employee representatives are one source of funding for benefits under the Railroad Retirement Act.
Mutual Savings Association Advisory Committee
Document Number: 2011-29707
Type: Notice
Date: 2011-11-17
Agency: Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The Office of the Comptroller of the Currency (OCC) has determined to carry on the work of the Mutual Savings Association Advisory Committee (MSAAC or Committee) formerly administered by the Office of Thrift Supervision, as it is necessary and in the public interest in order for the OCC to study the needs of and challenges facing mutual savings associations. The OCC is seeking nominations of individuals who are officers and/or directors of mutual savings associations to be considered for selection as MSAAC members.
Minority Depository Institutions Advisory Committee
Document Number: 2011-29706
Type: Notice
Date: 2011-11-17
Agency: Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The Office of the Comptroller of the Currency (OCC) has determined to carry on the work of the Minority Depository Institutions Advisory Committee (MDIAC or Committee) formerly administered by the Office of Thrift Supervision, as it is necessary and in the public interest in order for the OCC to preserve the present number of minority depository institutions and encourage the creation of new minority depository institutions. The OCC is seeking nominations of individuals who are officers and/or directors of minority depository institutions, or officers and/or directors of other depository institutions with a commitment to supporting minority depository institutions.
Agency Information Collection Activities Proposed Information Collection; Submission for OMB Review
Document Number: 2011-29688
Type: Notice
Date: 2011-11-17
Agency: Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
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. Currently, the OCC is soliciting comment concerning its extension, without change, of an information collection titled ``Debt Cancellation Contracts and Debt Suspension Agreements12 CFR 37.'' In addition, the OCC is giving notice that it has submitted the collection to OMB for review.
Proposed Collection; Comment Request for Forms 13768
Document Number: 2011-29647
Type: Notice
Date: 2011-11-17
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 Forms 13768, Electronic Tax Administration Advisory Committee (ETACC) Membership Application.
Extending Religious and Family Member FICA and FUTA Exceptions to Disregarded Entities; Correction
Document Number: 2011-29560
Type: Rule
Date: 2011-11-17
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document describes a correction to final and temporary regulations (TD 9554) extending the exceptions from taxes under the Federal Insurance Contributions Act (``FICA'') and the Federal Unemployment Tax Act (``FUTA'') under sections 3121(b)(3) (concerning individuals who work for certain family members), 3127 (concerning members of religious faiths), and 3306(c)(5) (concerning persons employed by children and spouses and children under 21 employed by their parents) of the Internal Revenue Code (``Code'') to entities that are disregarded as separate from their owners for Federal tax purposes. The temporary regulations also clarify the existing rule that the owners of disregarded entities, except for qualified subchapter S subsidiaries, are responsible for backup withholding and related information reporting requirements under section 3406. These regulations were published in the Federal Register on Tuesday, November 1, 2011 (76 FR 67363).
Application of Section 108(e)(8) to Indebtedness Satisfied by a Partnership Interest
Document Number: 2011-29553
Type: Rule
Date: 2011-11-17
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations relating to the application of section 108(e)(8) of the Internal Revenue Code (Code) to partnerships and their partners. These regulations provide guidance regarding the determination of discharge of indebtedness income of a partnership that transfers a partnership interest to a creditor in satisfaction of the partnership's indebtedness. The final regulations also address the application of section 721 to a contribution of a partnership's recourse or nonrecourse indebtedness by a creditor to the partnership in exchange for a capital or profits interest in the partnership. Moreover, the final regulations address how a partnership's discharge of indebtedness income is allocated as a minimum gain chargeback under section 704. The regulations affect partnerships and their partners.
Expansions of the Russian River Valley and Northern Sonoma Viticultural Areas
Document Number: 2011-29519
Type: Rule
Date: 2011-11-16
Agency: Alcohol and Tobacco Tax and Trade Bureau, Department of Treasury, Department of the Treasury
This Treasury decision expands the Russian River Valley viticultural area in Sonoma County, California, by 14,044 acres, and the Northern Sonoma viticultural area in Sonoma County, California, by 44,244 acres. TTB designates viticultural areas to allow vintners to better describe the origin of their wines and to allow consumers to better identify wines they may purchase.
Privacy Act of 1974, as Amended
Document Number: 2011-29380
Type: Notice
Date: 2011-11-15
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
In accordance with the requirements of the Privacy Act of 1974, as amended, 5 U.S.C. 552a, the Department of the Treasury, Internal Revenue Service, gives notice of the proposed consolidation of twelve Privacy Act systems of records.
Privacy Act of 1974, as Amended
Document Number: 2011-29372
Type: Notice
Date: 2011-11-15
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
In accordance with the requirements of the Privacy Act of 1974, as amended, 5 U.S.C. 552a, the Department of the Treasury, Internal Revenue Service, gives notice of a proposed new system of records entitled ``Treasury/IRS 37.111Preparer Tax Identification Number Records.''
Generation-Skipping Transfers (GST) Section 6011 Regulations and Amendments to the Section 6112 Regulations
Document Number: 2011-29313
Type: Rule
Date: 2011-11-14
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations that provide rules relating to the disclosure of listed transactions and transactions of interest with respect to the generation-skipping transfer tax under section 6011 of the Internal Revenue Code (Code), conforming amendments under sections 6111 and 6112, and rules relating to the preparation and maintenance of lists with respect to reportable transactions under section 6112. The regulations affect taxpayers participating in listed transactions and transactions of interest and material advisors to such transactions. The final regulations also contain rules under section 6112 that affect material advisors to reportable transactions. These regulations provide guidance regarding the length of time a material advisor has to prepare the list that must be maintained after the list maintenance requirement first arises with respect to a reportable transaction. These regulations also clarify guidance regarding designation agreements.
Notice of Funds Availability (NOFA) Inviting Applications for the Community Development Financial Institutions the Native American CDFI Assistance (NACA) Program FY 2012 Funding Round (the FY 2012 Funding Round)
Document Number: 2011-29305
Type: Notice
Date: 2011-11-14
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
Subject to funding availability, this NOFA is issued in connection with the FY 2012 Funding Round of the NACA Program, administered by the Community Development Financial Institutions (CDFI) Fund.
Advisory Council to the Internal Revenue Service; Meeting
Document Number: 2011-29304
Type: Notice
Date: 2011-11-10
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service Advisory Council (IRSAC) will hold a public meeting on Wednesday, November 16, 2011.