Internal Revenue Service June 18, 2008 – Federal Register Recent Federal Regulation Documents

Accrual Rules for Defined Benefit Plans
Document Number: E8-13788
Type: Proposed Rule
Date: 2008-06-18
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations providing guidance on the application of the accrual rule for defined benefit plans under section 411(b)(1)(B) of the Internal Revenue Code (Code) in cases where plan benefits are determined on the basis of the greatest of two or more separate formulas. These regulations would affect sponsors, administrators, participants, and beneficiaries of defined benefit plans. This document also provides a notice of a public hearing on these proposed regulations.
Guidance Under Sections 642 and 643 (Income Ordering Rules)
Document Number: E8-13611
Type: Proposed Rule
Date: 2008-06-18
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed amendments providing guidance under Internal Revenue Code (Code) section 642(c) with regard to the Federal tax consequences of an ordering provision in a trust, a will, or a provision of local law that attempts to determine the tax character of the amounts paid to a charitable beneficiary of the trust or estate. The proposed regulations also make conforming amendments to the regulations under section 643(a)(5). The proposed regulations affect estates, charitable lead trusts (CLTs) and other trusts making payments or permanently setting aside amounts for a charitable purpose. This document also provides notice of a public hearing on these proposed regulations.