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

Request for Nominations to the Electronic Tax Administration Advisory Committee
Document Number: 05-3824
Type: Notice
Date: 2005-02-28
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Electronic Tax Administration Advisory Committee (ETAAC), was established to provide continued input into the development and implementation of the Internal Revenue Service (IRS) strategy for electronic tax administration. The ETAAC provides an organized public forum for discussion of electronic tax administration issues in support of the overriding goal that paperless filing should be the preferred and most convenient method of filing tax and information returns. ETAAC members convey the public's perception of IRS electronic tax administration activities, offer constructive observations about current or proposed policies, programs, and procedures, and suggest improvements. This document seeks nominations of individuals to be considered for selection as Committee members. The Director, Electronic Tax Administration (ETA) will assure that the size and organizational representation of the ETAAC obtains balanced membership and includes representatives from various groups including: (1) Tax practitioners and preparers, (2) transmitters of electronic returns, (3) tax software developers, (4) large and small businesses, (5) employers and payroll service providers, (6) individual taxpayers, (7) financial industry (payers, payment options and best practices), (8) system integrators (technology providers), (9) academic (marketing, sales or technical perspectives), (10) trusts and estates, (11) tax exempt organizations, and (12) state and local governments. We are soliciting nominations from professional and public interest groups, IRS officials, the Department of the Treasury, and Congress. Members serve a three-year term on the ETAAC to allow a change in membership. The change of members on the Committee ensures that different perspectives are represented. All travel expenses within government guidelines will be reimbursed.
Open Meeting of the Area 4 Taxpayer Advocacy Panel (Including the States of Illinois, Indiana, Kentucky, Michigan, Ohio, Tennessee, and Wisconsin)
Document Number: 05-3823
Type: Notice
Date: 2005-02-28
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Area 4 Taxpayer Advocacy Panel will be conducted (via teleconference). The Taxpayer Advocacy Panel is soliciting public comment, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Proposed Collection; Comment Request for Regulation Project
Document Number: 05-3695
Type: Notice
Date: 2005-02-28
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 an existing final and temporary regulations, IA-62-91 (TD 8482), Capitalization and Inclusion in Inventory of Certain Costs (Sec. Sec. 1.263A-2 and 1.263A-3).
Real Estate Mortgage Investment Conduits
Document Number: 05-3697
Type: Rule
Date: 2005-02-25
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations relating to the application of the unified partnership audit procedures to disputes regarding the ownership of residual interests in a Real Estate Mortgage Investment Conduit (REMIC). These regulations will affect taxpayers that invest in REMIC residual interests.
Proposed Collection; Comment Request for Regulation Project
Document Number: 05-3696
Type: Notice
Date: 2005-02-25
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 existing final regulations, REG-208156-91 (TD 8929), Accounting for Long-Term Contracts (Sec. 1.460-1).
Proposed Collection; Comment Request for Forms 4070, 4070A, 4070PR, and 4070A-PR
Document Number: 05-3694
Type: Notice
Date: 2005-02-25
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 4070, Employee's Report of Tips to Employer, Form 4070A, Employee's Daily Record of Tips; Forma 4070PR, Informe al Patrono de Propinas Recibidas por el Empleado; Forma 4070A-PR, Registro Diario de Propinas del Empleado.
Proposed Collection; Comment Request for Revenue Procedure 2002-15
Document Number: 05-3693
Type: Notice
Date: 2005-02-25
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 Revenue procedure 2002-15, Automatic Relief for Late Initial Entity Classification ElectionsCheck the Box.
Art Advisory Panel-Notice of Availability of Report of 2004 Closed Meetings
Document Number: 05-3692
Type: Notice
Date: 2005-02-25
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
Pursuant to 5 U.S.C. app. I section 10(d), of the Federal Advisory Committee Act, and 5 U.S.C. section 552b, the Government in the Sunshine Act, a report summarizing the closed meeting activities of the Art Advisory Panel during 2004 has been prepared. A copy of this report has been filed with the Assistant Secretary of the Treasury for Management.
Qualified Interests
Document Number: 05-3589
Type: Rule
Date: 2005-02-25
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations amending the regulations under the gift tax special valuation rules to provide that a unitrust or annuity interest payable for a specified term of years to the grantor, or to the grantor's estate if the grantor dies prior to the expiration of the term, is a qualified interest for the specified term. The final regulations also clarify that the exception treating a spouse's revocable successor interest as a retained qualified interest applies only if the spouse's annuity or unitrust interest, standing alone, would constitute a qualified interest that meets the requirements of Sec. 25.2702-3(d)(3), but for the grantor's revocation power.
Reorganizations Under Section 368(a)(1)(E) and Section 368(a)(1)(F)
Document Number: 05-3588
Type: Rule
Date: 2005-02-25
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations regarding reorganizations under section 368(a)(1)(E) and section 368(a)(1)(F) of the Internal Revenue Code. The regulations affect corporations and their shareholders.
Modification of Check the Box
Document Number: 05-3587
Type: Rule
Date: 2005-02-25
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations that clarify that qualified REIT subsidiaries, qualified subchapter S subsidiaries, and single owner eligible entities that are disregarded as entities separate from their owners are treated as separate entities for purposes of any Federal tax liability for which the entity is liable. These regulations affect disregarded entities that are liable for Federal taxes with respect to tax periods during which they were not disregarded or because they are successors or transferees of taxable entities.
Privacy Act of 1974, as Amended; System of Records
Document Number: 05-3474
Type: Notice
Date: 2005-02-24
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 00.009Taxpayer Assistance Center (TAC) Recorded Quality Review Records.''
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).
Guidance Under Section 1502; Miscellaneous Operating Rules for Successor Persons; Succession to Items of the Liquidating Corporation
Document Number: 05-3220
Type: Proposed Rule
Date: 2005-02-22
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations under section 1502 that provide guidance regarding the manner in which the intercompany items of a liquidating member are succeeded to, and taken into account, in cases in which more than one distributee member acquires the assets of the liquidating corporation in a complete liquidation to which section 332 applies. This document also contains proposed regulations under section 1502 that provide guidance regarding the manner in which such distributee members succeed to the items (including items described in section 381(c)) of the liquidating corporation. These regulations apply to corporations filing consolidated returns.
Open Meeting of the Area 2 Taxpayer Advocacy Panel (Including the States of Delaware, North Carolina, South Carolina, New Jersey, Maryland, Pennsylvania, Virginia, W. Virginia and the District of Columbia)
Document Number: 05-3219
Type: Notice
Date: 2005-02-18
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Area 2 Taxpayer Advocacy Panel will be conducted (via teleconference). The Taxpayer Advocacy Panel is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Open Meeting of the Area 5 Taxpayer Advocacy Panel (Including the States of Iowa, Kansas, Minnesota, Missouri, Nebraska, Oklahoma, and Texas)
Document Number: 05-3218
Type: Notice
Date: 2005-02-18
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Area 5 Taxpayer Advocacy Panel will be conducted. The Taxpayer Advocacy Panel is soliciting public comment, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Open Meeting of the Joint Committee of the Taxpayer Advocacy Panel
Document Number: 05-3217
Type: Notice
Date: 2005-02-18
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Joint Committee of the Taxpayer Advocacy Panel will be conducted via teleconference. The Taxpayer Advocacy Panel is soliciting public comment, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Open Meeting of the Small Business/Self Employed-Taxpayer Burden Reduction Committee of the Taxpayer Advocacy Panel
Document Number: 05-3002
Type: Notice
Date: 2005-02-16
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Small Business/Self EmployedTaxpayer Burden Reduction Committee of the Taxpayer Advocacy Panel will be conducted (via teleconference). The TAP will be discussing issues pertaining to increasing compliance and lessening the burden for Small Business/Self Employed individuals.
Open Meeting of the Area 1 Taxpayer Advocacy Panel (Including the States of New York, Connecticut, Massachusetts, Rhode Island, New Hampshire, Vermont and Maine)
Document Number: 05-3001
Type: Notice
Date: 2005-02-16
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Area 1 Taxpayer Advocacy Panel will be conducted (via teleconference). The Taxpayer Advocacy Panel is soliciting public comments, ideas and suggestions on improving customer service at the Internal Revenue Service.
Testimony or Production of Records in a Court or Other Proceeding
Document Number: 05-2816
Type: Rule
Date: 2005-02-14
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations replacing the existing regulation that establishes the procedures to be followed by IRS officers and employees upon receipt of a request or demand for disclosure of IRS records or information. The purpose of the final regulations is to provide specific instructions and to clarify the circumstances under which more specific procedures take precedence. The final regulations extend the application of the regulation to former IRS officers and employees as well as to persons who are or were under contract to the IRS. The final regulations affect current and former IRS officers, employees and contractors, and persons who make requests or demands for disclosure.
Open Meeting of the Area 6 Taxpayer Advocacy Panel (Including the States of Arizona, Colorado, Idaho, Montana, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington and Wyoming)
Document Number: 05-2815
Type: Notice
Date: 2005-02-14
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Area 6 committee of the Taxpayer Advocacy Panel will be conducted (via teleconference). The Taxpayer Advocacy Panel (TAP) is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service. The TAP will use citizen input to make recommendations to the Internal Revenue Service.
Open Meeting of the Taxpayer Advocacy Panel Multilingual Initiative (MLI) Issue Committee Will Be Conducted (Via Teleconference)
Document Number: 05-2814
Type: Notice
Date: 2005-02-14
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Taxpayer Advocacy Panel Multilingual Initiative (MLI) Issue Committee will be conducted (via teleconference). The Taxpayer Advocacy Panel is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Open Meeting of the Ad Hoc Committee of the Taxpayer Advocacy Panel
Document Number: 05-2813
Type: Notice
Date: 2005-02-14
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Ad Hoc Committee of the Taxpayer Advocacy Panel will be conducted (via teleconference). The TAP will be discussing issues pertaining to lessoning the burden for individuals. Recommendations for IRS systemic changes will be developed.
Return of Partnership Income
Document Number: 05-2725
Type: Rule
Date: 2005-02-11
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations that authorize the Commissioner to provide exceptions to the requirements of section 6031(a) of the Internal Revenue Code for certain partnerships by guidance published in the Internal Revenue Bulletin. The regulations adopt the rules of the temporary regulations without any changes.
Prohibited Allocations of Securities in an S Corporation
Document Number: 05-2200
Type: Proposed Rule
Date: 2005-02-04
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to a notice of proposed rulemaking that was published in the Federal Register on December 17, 2004 (69 FR 75492), relating to prohibited allocations of securities in an S Corporation.
Quarterly Publication of Individuals, Who Have Chosen to Expatriate, as Required by Section 6039G
Document Number: 05-1951
Type: Notice
Date: 2005-02-02
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This notice is provided in accordance with IRC section 6039G, as amended, by the Health Insurance Portability and Accountability Act (HIPPA) of 1996. This listing contains the name of each individual losing United States citizenship (within the meaning of section 877(a)) with respect to whom the Secretary received information during the quarter ending December 31, 2004.
Proposed Collection; Comment Request for Regulation Project
Document Number: 05-1950
Type: Notice
Date: 2005-02-02
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 proposed rulemaking regulations, REG-154000-04 Notice of Proposed Rulemaking) Diesel Fuel and Kerosene Excise Tax; Dye Injection.
Open Meeting of the Area 3 Taxpayer Advocacy Panel (Including the States of Florida, Georgia, Alabama, Mississippi, Louisiana, Arkansas, and Puerto Rico)
Document Number: 05-1949
Type: Notice
Date: 2005-02-02
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Area 3 Taxpayer Advocacy Panel will be conducted (via teleconference). The Taxpayer Advocacy Panel is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Open Meeting of the Wage & Investment Reducing Taxpayer Burden (Notices) Issue Committee of the Taxpayer Advocacy Panel
Document Number: 05-1948
Type: Notice
Date: 2005-02-02
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Wage & Investment Reducing Taxpayer Burden (Notices) Issue Committee of the Taxpayer Advocacy Panel will be conducted (via teleconference). The Taxpayer Advocacy Panel is soliciting public comments, ideas and suggestions on improving customer service at the Internal Revenue Service.
Section 1374 Effective Dates; Correction
Document Number: 05-1734
Type: Rule
Date: 2005-02-01
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document corrects temporary regulations (TD 9170) that were published in the Federal Register on Wednesday, December 22, 2004 (69 FR 76612), that provide guidance concerning the applicability of section 1374 to S corporations that acquire assets in carryover basis transactions from C corporations on or after December 27, 1994, and to certain corporations that terminate S corporation status and later elect again to become S corporations.