Internal Revenue Service November 2008 – Federal Register Recent Federal Regulation Documents

Publication of the Tier 2 Tax Rates
Document Number: E8-28213
Type: Notice
Date: 2008-11-28
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
Publication of the tier 2 tax rates for calendar year 2009 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.
Substantiation and Reporting Requirements for Cash and Noncash Charitable Contribution Deductions; Hearing
Document Number: E8-28212
Type: Proposed Rule
Date: 2008-11-28
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document provides notice of public hearing on proposed regulations relating to the substantiation and reporting requirements for cash and noncash charitable contributions under section 170 of the Internal Revenue Code. The regulations reflect the enactment of provisions of the American Jobs Creation Act of 2004 and the Pension Protection Act of 2006. The regulations provide guidance to individuals, partnerships, and corporations that make charitable contributions, and will affect any donor claiming a deduction for a charitable contribution after the date these regulations are published as final regulations in the Federal Register.
Classification of Certain Foreign Entities
Document Number: E8-28211
Type: Rule
Date: 2008-11-28
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations relating to certain business entities included on the list of foreign business entities that are always classified as corporations for Federal tax purposes. The regulations are needed to make the Federal tax classification of the Bulgarian public limited liability company (aktsionerno druzhestvo) consistent with the Federal tax classification of public limited liability companies organized in other countries of the European Economic Area. The regulations will affect persons owning an interest in a Bulgarian aktsionerno druzhestvo on or after January 1, 2007.
Section 1367 Regarding Open Account Debt
Document Number: Z8-24926
Type: Rule
Date: 2008-11-25
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
Employee Stock Purchase Plans Under Internal Revenue Code Section 423; Hearing
Document Number: E8-27862
Type: Proposed Rule
Date: 2008-11-24
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document provides notice of public hearing on proposed regulations relating to options granted under an employee stock purchase plan as defined in section 423 of the Internal Revenue Code. These proposed regulations affect certain taxpayers who participate in the transfer of stock pursuant to the exercise of options granted under an employee stock purchase plan.
Open Meeting of the Taxpayer Advocacy Panel
Document Number: E8-27861
Type: Notice
Date: 2008-11-24
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Taxpayer Advocacy Panel will be held. The Taxpayer Advocacy Panel is soliciting public comment, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Alcohol Fuel and Biodiesel; Renewable Diesel; Alternative Fuel; Diesel-Water Fuel Emulsion; Taxable Fuel Definitions; Excise Tax Returns; Hearing
Document Number: E8-27556
Type: Proposed Rule
Date: 2008-11-20
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document provides notice of public hearing on proposed regulations relating to credits and payments for alcohol mixtures, biodiesel mixtures, renewable diesel mixtures, alternative fuel mixtures, and alternative fuel sold for use or used as a fuel, as well as proposed regulations relating to the definition of gasoline and diesel fuel.
Section 108 Reduction of Tax Attributes for S Corporations; Hearing Cancellation
Document Number: E8-27555
Type: Proposed Rule
Date: 2008-11-20
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document cancels a public hearing on proposed rulemaking that provides guidance on the manner in which an S corporation reduces its tax attributes under section 108(b) for taxable years in which the S corporation has discharge of indebtedness income that is excluded from gross income under section 108(a).
Proposed Collection; Comment Request for Form 1040 and Schedules A, B, C, C-EZ, D, D-1, E, EIC, F, H, J, R, and SE, Form 1040A and Schedules 1, 2, and 3, and Form 1040EZ, and All Attachments to These Forms
Document Number: E8-27554
Type: Notice
Date: 2008-11-20
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, 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 continuing information collections, as required by the Paperwork Reduction Act of 1995 (PRA), Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). This notice requests comments on all forms used by individual taxpayers: Form 1040, U.S. Individual Income Tax Return, and Schedules A, B, C, C-EZ, D, D-1, E, EIC, F, H, J, R, and SE; Form 1040A and Schedules 1, 2, and 3; Form 1040EZ; and all attachments to these forms (see the Appendix to this notice).
Proposed Collection; Comment Request for Notice 2006-96 (REG-140029-07)
Document Number: E8-27553
Type: Notice
Date: 2008-11-20
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 2006- 96, Guidance Regarding Appraisal and Reporting Requirements for Noncash Charitable Contributions/REG-140029-07, Substantiation and Reporting Requirements for Cash and Noncash Charitable Contribution Deductions.
Proposed Collection; Comment Request for Regulation Project; Correction
Document Number: E8-27552
Type: Notice
Date: 2008-11-20
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains a correction to a notice and request for comments, that was published in the Federal Register on Thursday, October 30, 2008 (73 FR 64663) inviting 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)) and as part of its continuing effort to reduce paperwork and respondent burden by the Department of the Treasury. Currently, the IRS is soliciting comments concerning a final regulation, REG-146459-05 (TD 9324), Designated Roth Contributions under Section 402A.
Section 1367 Regarding Open Account Debt; Correction
Document Number: E8-27024
Type: Rule
Date: 2008-11-14
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to final regulations (TD 9428) that were published in the Federal Register on Monday, October 20, 2008 (73 FR62199) relating to the treatment of open account debt between S corporations and their shareholders. These final regulations provide rules regarding the definition of open account debt and the adjustments in basis of any indebtedness of an S corporation to a shareholder under section 1367(b)(2) of the Internal Revenue Code for shareholder advances and repayments on advances of open account debt. The regulations affect shareholders of S corporations and are necessary to provide guidance needed to comply with the applicable tax law.
Determining the Amount of Taxes Paid for Purposes of Section 901; Correction
Document Number: E8-27023
Type: Rule
Date: 2008-11-14
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to final and temporary regulations (TD 9416) that were published in the Federal Register on Wednesday, July 16, 2008 (73 FR 40727) under section 901 of the Internal Revenue Code providing guidance relating to the determination of the amount of taxes paid for purposes of the foreign tax credit.
Payments From the Presidential Primary Matching Payment Account
Document Number: E8-26639
Type: Rule
Date: 2008-11-13
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations under section 9037 of the Internal Revenue Code (Code) relating to the financing of presidential primary campaigns. The regulations relate to Treasury procedures for making payments from the Presidential Primary Matching Payment Account (Primary Account) to eligible primary candidates. These regulations affect all candidates eligible to receive payments from the Primary Account.
Information Reporting for Discharges of Indebtedness
Document Number: E8-26676
Type: Rule
Date: 2008-11-10
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final and temporary regulations relating to information returns for cancellation of indebtedness by certain entities. The temporary regulations will avoid premature information reporting from certain businesses that are currently required to report and will reduce the number of information returns required to be filed. The temporary regulations will impact certain lenders who are currently required to file information returns under the existing regulations. The text of these temporary regulations also serves as the text of the proposed regulations as set forth in the Proposed Rules section in this issue of the Federal Register.
Information Reporting for Discharges of Indebtedness
Document Number: E8-26674
Type: Proposed Rule
Date: 2008-11-10
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 final and temporary regulations relating to information returns for cancellation of indebtedness by certain entities. The temporary regulations will avoid premature information reporting from certain businesses that are currently required to report and will reduce the number of information returns required to be filed. The regulations will impact certain lenders who are currently required to file information returns under the existing regulations. The text of those temporary regulations also serves as text of these proposed regulations. This document also provides a notice of public hearing on these proposed regulations.
Unified Rule for Loss on Subsidiary Stock
Document Number: Z8-21006
Type: Rule
Date: 2008-11-06
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
Election To Expense Certain Refineries; Hearing Cancellation
Document Number: E8-26426
Type: Proposed Rule
Date: 2008-11-06
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document cancels a public hearing on proposed rulemaking by cross-reference to temporary regulations under section 179C of the Internal Revenue Code relating to the election to expense qualified refinery property.
Information Reporting on Employer-Owned Life Insurance Contracts
Document Number: E8-26424
Type: Rule
Date: 2008-11-06
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations concerning information reporting on employer-owned life insurance contracts under section 6039I of the Internal Revenue Code (Code). This final regulation is necessary to provide taxpayers with guidance as to how the requirements of section 6039I should be applied. These regulations generally apply to taxpayers that are engaged in a trade or business and that are directly or indirectly a beneficiary of a life insurance contract covering the life of an insured who is an employee of the trade or business on the date the contract is issued.
Proposed Collection; Comment Request for Form 13925
Document Number: E8-26422
Type: Notice
Date: 2008-11-06
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 13925, Notice of Election of and Agreement To Special Lien Under Internal Revenue Code section 6324A and Regulations.