Internal Revenue Service February 23, 2005 – Federal Register Recent Federal Regulation Documents

Uniform Capitalization of Interest Expense in Safe Harbor Sale and Leaseback Transactions
Document Number: 05-3463
Type: Rule
Date: 2005-02-23
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains amendments to regulations relating to the capitalization of interest expense incurred in sale and leaseback transactions under the Economic Recovery Tax Act of 1981 (ERTA) safe harbor leasing provisions. The regulations affect taxpayers that provide purchase money obligations in connection with these transactions.
Adjustment To Net Unrealized Built-in Gain
Document Number: 05-3462
Type: Rule
Date: 2005-02-23
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations under section 1374 that provide for an adjustment to the amount that may be subject to tax under section 1374 in certain cases in which an S corporation acquires assets from a C corporation in an acquisition to which section 1374(d)(8) applies. These final regulations provide guidance to certain S corporations that acquire assets from a C corporation in a carryover basis transaction.
Open Meeting of the Earned Income Tax Credit Committee of the Taxpayer Advocacy Panel
Document Number: 05-3461
Type: Notice
Date: 2005-02-23
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Earned Income Tax Credit Committee of the Taxpayer Advocacy Panel will be conducted (via teleconference). The Committee will be discussing issues pertaining to the IRS administration of the Earned Income Tax Credit.
Proposed Collection; Comment Request for Revenue Procedure 2001-21
Document Number: 05-3460
Type: Notice
Date: 2005-02-23
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 Revenue Procedure 2001-21, Debt Roll-Ups.
Proposed Collection; Comment Request for Regulation Project; Withdrawal
Document Number: 05-3459
Type: Notice
Date: 2005-02-23
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document withdraws a notice and request for comments that was published in the Federal Register on February 2, 2005 (70 FR 5510) that solicited comments on proposed regulations (REG-154000-04) relating to Diesel Fuel and Kerosene Excise Tax and Dye Injection (OMB No. 1545-1418).