Internal Revenue Service 2006 – Federal Register Recent Federal Regulation Documents

Reporting Rules for Widely Held Fixed Investment Trusts
Document Number: 06-9924
Type: Rule
Date: 2006-12-29
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations amending Sec. 1.671- 5 which provides reporting rules for widely held fixed investment trusts (WHFITs). These final regulations clarify and simplify reporting for trustees and middlemen of non-mortgage widely held fixed investment trusts (NMWHFITs). These final regulations also provide temporary safe harbor reporting rules for widely held mortgage trusts (WHMTs) that are outside the WHMT safe harbor. The preamble to these regulations also provides that trustees of WHFITs are to indicate on the Form 1041, ``U.S. Income Tax Return for Estates and Trusts,'' filed for a WHFIT's 2006 calendar year that the return is a final return.
User Fees for Processing Installment Agreements
Document Number: E6-22257
Type: Rule
Date: 2006-12-28
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains amendments to the regulations relating to user fees for installment agreements. The amendments update the fees to reflect the actual costs of the services provided and create an exception to the increased fee for entering into installment agreements for low-income taxpayers. The amendments affect taxpayers who wish to pay their liabilities through installment agreements.
Proposed Collection: Comment Request for Regulation Project
Document Number: E6-22256
Type: Notice
Date: 2006-12-28
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 final regulation, REG-209682-94 (TD 8847), Adjustments Following Sales of Partnership Interests, (Sec. Sec. 1.732-1 and 1.743-1).
Proposed Collection; Comment Request for Form 1139
Document Number: E6-22255
Type: Notice
Date: 2006-12-28
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 Form 1139, Corporation Application for Tentative Refund.
Proposed Collection; Comment Request for Form SS-8
Document Number: E6-22254
Type: Notice
Date: 2006-12-28
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 Form SS-8, Determination of Worker Status for Purpose of Federal Employment Taxes and Income Tax Withholding.
Changes in Computing Depreciation
Document Number: 06-9892
Type: Rule
Date: 2006-12-28
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains regulations relating to a change in computing depreciation or amortization as well as a change from a nondepreciable or nonamortizable asset to a depreciable or amortizable asset (or vice versa). Specifically, these regulations provide guidance to any taxpayer that makes a change in depreciation or amortization on whether such a change is a change in method of accounting under section 446(e) of the Internal Revenue Code and on the application of section 1016(a)(2) in determining whether the change is a change in method of accounting.
Source of Income From Certain Space and Ocean Activities; Source of Communications Income
Document Number: E6-22174
Type: Rule
Date: 2006-12-27
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations under section 863(d) governing the source of income from certain space and ocean activities. It also contains final regulations under section 863(a), (d), and (e) governing the source of income from certain communications activities. In addition, this document contains final regulations under section 863(a) and (b), amending the regulations in Sec. 1.863-3 to conform those regulations to these final regulations. The final regulations primarily affect persons who derive income from activities conducted in space, or on or under water not within the jurisdiction of a foreign country, possession of the United States, or the United States (in international water). The final regulations also affect persons who derive income from transmission of communications.
Income and Currency Gain or Loss With Respect to a Section 987 QBU; Correction
Document Number: E6-22169
Type: Proposed Rule
Date: 2006-12-27
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 Thursday, September 7, 2006 (71 FR 52876), regarding the determination of the items of income or loss of a taxpayer with respect to a section 987 qualified business unit as well as the timing, amount, character and source of any section 987 gain or loss.
Proposed Collection; Comment Request for Regulation Project
Document Number: E6-22168
Type: Notice
Date: 2006-12-27
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 regulation, REG-120200-97 (TD 8775), Election Not to Apply Look-Back Method in De Minimis Cases (Sec. 1.460-6).
Flat Rate Supplemental Wage Withholding; Correction
Document Number: E6-22022
Type: Rule
Date: 2006-12-27
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to final regulations (TD 9276) that were published in the Federal Register on Tuesday, July 25, 2006 (71 FR 42049), amending the regulations that provide for determining the amount of income tax withholding on supplemental wages. These regulations apply to all employers and others making supplemental wage payments to employees.
Exchanges of Property for an Annuity
Document Number: E6-22020
Type: Proposed Rule
Date: 2006-12-27
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
On October 18, 2006, on page 61441 of the Federal Register (71 FR 61441), a notice of proposed rulemaking and notice of public hearing announced that a public hearing concerning guidance on the taxation of the exchange of property for an annuity contract will be held February 16, 2007 in the auditorium of the New Carrollton Federal Building, 5000 Ellin Road, Lanham, MD 20706. The location of the public hearing has changed.
Railroad Track Maintenance Credit; Hearing Cancellation
Document Number: E6-22018
Type: Proposed Rule
Date: 2006-12-27
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document cancels a public hearing on proposed regulations by cross-reference to temporary regulations relating to the railroad track maintenance credit determined for qualified railroad track maintenance expenditures paid or incurred by a Class II or Class III railroad and other eligible taxpayers during the taxable year.
Application of Separate Limitations to Dividends From Noncontrolled Section 902 Corporations; Correction
Document Number: E6-22024
Type: Rule
Date: 2006-12-26
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to final and temporary regulations that were published in the Federal Register on Tuesday, April 25, 2006 (71 FR 24516) concerning the application of separate foreign tax credit limitations to dividends received from noncontrolled section 902 corporations under section 904(d)(4).
General Allocation and Accounting Regulations Under Section 141
Document Number: E6-22023
Type: Proposed Rule
Date: 2006-12-26
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
On September 26, 2006, on page 56072 of the Federal Register (71 FR 56072), a notice of proposed rulemaking and notice of public hearing announced that a public hearing relating to allocation and accounting of tax-exempt bonds proceeds for purposes of the private activity bond restrictions will be held January 11, 2007, in the auditorium of the New Carrollton Federal Building, 5000 Ellin Road, Lanham, MD 20706. The location of the public hearing has changed.
Treatment of Payments in Lieu of Taxes Under Section 141
Document Number: E6-22017
Type: Proposed Rule
Date: 2006-12-26
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
On October 19, 2006, on page 61693 of the Federal Register (71 FR 61693), a notice of proposed rulemaking and notice of public hearing announced that a public hearing concerning applying the private security or payment test for State and local governmental issuers of tax-exempt bonds will be held February 13, 2007 in the auditorium of the New Carrollton Federal Building, 5000 Ellin Road, Lanham, MD 20706. The location of the public hearing has changed.
TIPRA Amendments to Section 199
Document Number: E6-22016
Type: Proposed Rule
Date: 2006-12-26
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
On October 19, 2006, on page 61692 of the Federal Register (71 FR 61692), a notice of proposed rulemaking by cross-reference to temporary regulations and notice of public hearing announced that a public hearing concerning the application of section 199, which provides a deduction for income attributable to domestic production activities will be held February 5, 2007 in the auditorium of the New Carrollton Federal Building, 5000 Ellin Road, Lanham, MD 20706. The location of the public hearing has changed.
Proposed Collection; Comment Request for Tip Reporting Alternative Commitment (Hairstyling Industry)
Document Number: E6-22014
Type: Notice
Date: 2006-12-26
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 Tip Reporting Alternative Commitment (Hairstyling Industry).
Proposed Collection; Comment Request for Tip Reporting Alternative Commitment (TRAC) for Most Industries
Document Number: E6-22013
Type: Notice
Date: 2006-12-26
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 Tip Reporting Alternative Commitment (TRAC) for Most Industries.
Proposed Collection; Comment Request for Tip Rate Determination Agreement (TRDA) for Most Industries
Document Number: E6-22012
Type: Notice
Date: 2006-12-26
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 Tip Rate Determination Agreement (TRDA) for Most Industries.
Proposed Collection; Comment Request for Deduction Guidance and Capitalization Expenditures
Document Number: E6-22011
Type: Notice
Date: 2006-12-26
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 regulation, REG-125638-01 (Final), (TD 9107) Guidance Regarding Deduction and Capitalization of Expenditures.
Proposed Collection; Comment Request for Form 2587
Document Number: E6-22010
Type: Notice
Date: 2006-12-26
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 2587, Application for Special Enrollment Examination.
Treatment of Services Under Section 482 Allocation of Income and Deductions From Intangibles Stewardship Expense; Correction
Document Number: E6-21909
Type: Proposed Rule
Date: 2006-12-22
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to a notice of proposed rulemaking by cross-reference to temporary regulations, notice of proposed rulemaking, and notice of public hearing that was published in the Federal Register on Friday, August 4, 2006 (71 FR 44247) relating to the treatment of controlled services transactions under section 482. These regulations also provide guidance regarding the allocation of income from intangibles, in particular with respect to contributions by a controlled party to the value of an intangible owned by another controlled party, as it relates to controlled services transactions, and modify the regulations under section 861 concerning stewardship expenses to be consistent with the changes made to the regulations under section 482.
Treatment of Services Under Section 482; Allocation of Income and Deductions From Intangibles; Stewardship Expense; Correction
Document Number: E6-21908
Type: Rule
Date: 2006-12-22
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to final and temporary regulations (TD 9278) that was published in the Federal Register on Friday, August 4, 2006 (71 FR 44466) regarding the treatment of controlled services transactions under section 482 and the allocation of income from intangibles, in particular with respect to contributions by a controlled party to the value of an intangible owned by another controlled party. This document also contains corrections to final and temporary regulations that modify the regulations under section 861 concerning stewardship expenses to be consistent with the changes made to the regulations under section 482.
Treatment of Services Under Section 482; Allocation of Income and Deductions From Intangibles; Stewardship Expense; Correction
Document Number: E6-21907
Type: Rule
Date: 2006-12-22
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to final and temporary regulations (TD 9278) that was published in the Federal Register on Friday, August 4, 2006 (71 FR 44466) regarding the treatment of controlled services transactions under section 482 and the allocation of income from intangibles, in particular with respect to contributions by a controlled party to the value of an intangible owned by another controlled party. This document also contains corrections to final and temporary regulations that modify the regulations under section 861 concerning stewardship expenses to be consistent with the changes made to the regulations under section 482.
Guidance Necessary To Facilitate Business Electronic Filing Under Section 1561
Document Number: 06-9758
Type: Rule
Date: 2006-12-22
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains temporary regulations that affect component members of controlled groups of corporations and consolidated groups filing life-nonlife Federal income tax returns. They provide guidance regarding the apportionment of tax benefit items and the amount and type of information these members are required to submit with their returns. 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.
Guidance Necessary To Facilitate Business Electronic Filing Under Section 1561
Document Number: 06-9757
Type: Proposed Rule
Date: 2006-12-22
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 affect component members of controlled groups of corporations and consolidated groups filing life-nonlife Federal income tax returns. They provide guidance regarding the apportionment of tax benefit items and the amount and type of information these members are required to submit with their returns. The text of those regulations also serves as the text of these proposed regulations.
Prohibited Allocations of Securities in an S Corporation
Document Number: E6-21669
Type: Rule
Date: 2006-12-20
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations that provide guidance concerning requirements under section 409(p) of the Internal Revenue Code for employee stock ownership plans (ESOPs) holding stock of Subchapter S corporations. These final regulations generally affect plan sponsors of, and participants in, ESOPs holding stock of Subchapter S corporations.
Corporate Reorganizations; Distributions Under Sections 368(a)(1)(D) and 354(b)(1)(B)
Document Number: E6-21572
Type: Proposed Rule
Date: 2006-12-19
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 qualification of certain transactions as reorganizations described in section 368(a)(1)(D) where no stock and/or securities of the acquiring corporation is issued and distributed in the transaction. These regulations affect corporations engaging in such transactions and their shareholders. The text of those regulations also serves as the text of these proposed regulations.
Open meeting of the Taxpayer Assistance Center Committee of the Taxpayer Advocacy Panel
Document Number: E6-21570
Type: Notice
Date: 2006-12-19
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Taxpayer Assistance Center 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.
Residence Rules Involving U.S. Possessions; Correction
Document Number: E6-21566
Type: Rule
Date: 2006-12-19
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to final regulations that were published in the Federal Register on Tuesday, November 14, 2006 (71 FR 66232) relating to rules for determining bona fide residency in the following U.S. territories: American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and the United States Virgin Islands.
Corporate Reorganizations; Distributions Under Sections 368(a)(1)(D) and 354(b)(1)(B)
Document Number: E6-21565
Type: Rule
Date: 2006-12-19
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains temporary regulations under section 368 of the Internal Revenue Code of 1986 (Code). The temporary regulations provide guidance regarding the qualification of certain transactions as reorganizations described in section 368(a)(1)(D) where no stock and/or securities of the acquiring corporation is issued and distributed in the transaction. These 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.
Honey From Argentina: Preliminary Results of New Shipper Review
Document Number: Z6-19899
Type: Notice
Date: 2006-12-15
Agency: Department of Commerce, International Trade Administration, Federal Communications Commission, Agencies and Commissions, Internal Revenue Service, Department of Treasury, Department of the Treasury
Credit for Increasing Research Activities
Document Number: Z6-18909
Type: Rule
Date: 2006-12-15
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
TIPRA Amendments to Section 199
Document Number: Z6-17402
Type: Rule
Date: 2006-12-15
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
Open Meeting of the Area 2 Taxpayer Advocacy Panel (Including the States of Delaware, North Carolina, South Carolina, New Jersey, Maryland, Pennsylvania, Virginia, West Virginia and the District of Columbia)
Document Number: E6-21233
Type: Notice
Date: 2006-12-14
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 4 Taxpayer Advocacy Panel (Including the States of Illinois, Indiana, Kentucky, Michigan, Ohio, Tennessee, and Wisconsin)
Document Number: E6-21231
Type: Notice
Date: 2006-12-14
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.
Open Meeting of the Area 3 Taxpayer Advocacy Panel (Including the States of Florida, Georgia, Alabama, Mississippi, Louisiana, Arkansas, and the Territory of Puerto Rico)
Document Number: E6-21230
Type: Notice
Date: 2006-12-14
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 Area 7 Taxpayer Advocacy Panel (Including the States of Alaska, California, Hawaii, and Nevada)
Document Number: E6-21229
Type: Notice
Date: 2006-12-14
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Area 7 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 Area 5 Taxpayer Advocacy Panel (Including the States of Iowa, Kansas, Minnesota, Missouri, Nebraska, Oklahoma, and Texas)
Document Number: E6-21227
Type: Notice
Date: 2006-12-14
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.
Exception to the HIPAA Nondiscrimination Requirements for Certain Grandfathered Church Plans
Document Number: 06-9558
Type: Rule
Date: 2006-12-13
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations that provide guidance under section 9802(c) of the Internal Revenue Code relating to the exception for certain grandfathered church plans from the nondiscrimination requirements applicable to group health plans under section 9802(a) and (b). Final regulations relating to the nondiscrimination requirements under section 9802(a) and (b) are being published elsewhere in this issue of the Federal Register. The regulations will generally affect sponsors of and participants in certain self-funded church plans that are group health plans, and the regulations provide plan sponsors and plan administrators with guidance necessary to comply with the law.
Nondiscrimination and Wellness Programs in Health Coverage in the Group Market
Document Number: 06-9557
Type: Rule
Date: 2006-12-13
Agency: Centers for Medicare & Medicaid Services, Department of Health and Human Services, Employee Benefits Security Administration, Department of Labor, Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final rules governing the provisions prohibiting discrimination based on a health factor for group health plans and issuers of health insurance coverage offered in connection with a group health plan. The rules contained in this document implement changes made to the Internal Revenue Code of 1986 (Code), the Employee Retirement Income Security Act of 1974 (ERISA), and the Public Health Service Act (PHS Act) enacted as part of the Health Insurance Portability and Accountability Act of 1996 (HIPAA).
Reduction in Taxable Income for Housing Hurricane Katrina Displaced Individuals
Document Number: E6-21031
Type: Rule
Date: 2006-12-12
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains temporary regulations relating to the reduction in taxable income under section 302 of the Katrina Emergency Tax Relief Act of 2005. The regulations affect taxpayers who provide housing in their principal residences to individuals displaced by Hurricane Katrina. 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.
Reduction in Taxable Income for Housing Hurricane Katrina Displaced Individuals
Document Number: E6-21030
Type: Proposed Rule
Date: 2006-12-12
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 relating to the reduction in taxable income under section 302 of the Katrina Emergency Tax Relief Act of 2005. The regulations affect taxpayers that provide housing in their principal residences to individuals displaced by Hurricane Katrina. The text of those regulations also serves as the text of these proposed regulations.
Proposed Revision of Annual Information Return/Reports
Document Number: 06-9633
Type: Notice
Date: 2006-12-11
Agency: Employee Benefits Security Administration, Department of Labor, Internal Revenue Service, Department of Treasury, Pension Benefit Guaranty Corporation, Agencies and Commissions, Department of the Treasury
This document contains a proposal to make changes required by the Pension Protection Act of 2006 (PPA) to the Form 5500 Annual Return/Report filed for employee benefit plans under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (Code). The proposed changes supplement proposed revisions to the Form 5500 Annual Return/Report published, prior to the enactment of the PPA, by the Department of Labor, the Internal Revenue Service, and the Pension Benefit Guaranty Corporation (Agencies) in the Federal Register on July 21, 2006, at 71 FR 41616 (July 2006 Proposal). This supplemental proposal replaces the Schedule B, ``Actuarial Information,'' with separate actuarial schedules for single-employer plans (Schedule SB) and multiemployer plans (Schedule MB) to reflect PPA changes in funding and annual reporting requirements; adds new questions to the Schedule R, ``Retirement Plan Information,'' to collect additional information regarding single and multiemployer defined benefit pension plans required by the PPA; and proposes having the Form 5500-SF Annual Return/Report (Short Form 5500) included in the July 2006 Proposal serve as the simplified report required by the PPA for plans with fewer than 25 participants. The revisions are being proposed for 2008 plan year filings and would affect employee pension and welfare benefit plans, plan sponsors, administrators, and service providers to plans subject to annual reporting requirements under ERISA and the Code.
Adequacy of Nebraska Municipal Solid Waste Landfill Program
Document Number: Z6-19388
Type: Rule
Date: 2006-12-08
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury, Environmental Protection Agency
Exhanges of Property for an Annuity
Document Number: Z6-17301
Type: Proposed Rule
Date: 2006-12-08
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
Railroad Track Maintenance Credit; Correction
Document Number: E6-20799
Type: Rule
Date: 2006-12-08
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document corrects temporary regulations (TD 9286) that were published in the Federal Register on Friday, September 8, 2006 (71 FR 53009) providing rules for claiming the railroad track maintenance credit under section 45G of the Internal Revenue Code for qualified railroad track maintenance expenditures paid or incurred by a Class II railroad or Class III railroad and other eligible taxpayers during the taxable year.
Exclusion From Gross Income of Previously Taxed Earnings and Profits and Adjustments to Basis of Stock in Controlled Foreign Corporations and of Other Property; Correction
Document Number: E6-20798
Type: Proposed Rule
Date: 2006-12-08
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document corrects notice of proposed rulemaking (REG- 121509-00) that was published in the Federal Register on Tuesday, August 29, 2006 (71 FR 51155). The document contains proposed regulations that provide guidance relating to the exclusion from gross income of previously taxed earnings and profits under section 959 of the Internal Revenue Code (Code) and related basis adjustments under section 961 of the Code.
Railroad Track Maintenance Credit; Correction
Document Number: E6-20740
Type: Rule
Date: 2006-12-08
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to temporary regulations (TD 9286) that were published in the Federal Register on Friday, September 8, 2006 (71 FR 53009) providing rules for claiming the railroad track maintenance credit under section 45G of the Internal Revenue Code for qualified railroad track maintenance expenditures paid or incurred by a Class II railroad or Class III railroad and other eligible taxpayers during the taxable year.
Guidance Necessary to Facilitate Business Electronic Filing
Document Number: E6-20734
Type: Rule
Date: 2006-12-08
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations designed to eliminate regulatory impediments to the electronic filing of certain income tax returns and other forms. These regulations affect business taxpayers who file income tax returns electronically. This document also makes conforming changes to certain current regulations.