Internal Revenue Service December 2009 – Federal Register Recent Federal Regulation Documents

Use of Controlled Corporations To Avoid the Application of Section 304
Document Number: E9-30863
Type: Proposed Rule
Date: 2009-12-30
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 and the Treasury Department are issuing temporary regulations under section 304 of the Internal Revenue Code (Code). The temporary regulations apply to certain transactions that are subject to section 304 but that are entered into with a principal purpose of avoiding the application of section 304 to a corporation controlled by the issuing corporation in the transaction, or to a corporation that controls the acquiring corporation in the transaction. The temporary regulations affect shareholders treated as receiving distributions in redemption of stock by reason of section 304. The text of temporary regulations published in this issue of the Federal Register serves as the text of these proposed regulations.
Use of Controlled Corporations To Avoid the Application of Section 304
Document Number: E9-30861
Type: Rule
Date: 2009-12-30
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final and temporary regulations under section 304 of the Internal Revenue Code (Code). The regulations apply to certain transactions that are subject to section 304 but that are entered into with a principal purpose of avoiding the application of section 304 to a corporation that is controlled by the issuing corporation in the transaction, or with a principal purpose of avoiding the application of section 304 to a corporation that controls the acquiring corporation in the transaction. The regulations affect persons treated as receiving distributions in redemption of stock by reason of section 304. The text of the temporary regulations serves as the text of the proposed regulations in the notice of proposed rulemaking on this subject published in the Proposed Rules section of this issue of the Federal Register.
Apportionment of Tax Items Among the Members of a Controlled Group of Corporations
Document Number: E9-30547
Type: Rule
Date: 2009-12-28
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations that provide guidance to corporations that are component members of a controlled group of corporations and to consolidated groups filing life-nonlife Federal income tax returns. They provide guidance to component members regarding the apportionment of tax benefit items and the amount and type of information they are required to submit with their returns.
Information Reporting for Payments Made in Settlement of Payment Card and Third Party Network Transactions; Correction
Document Number: E9-30551
Type: Proposed Rule
Date: 2009-12-23
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to a notice of proposed rulemaking (REG-139255-08) that were published in the Federal Register on Tuesday, November 24, 2009 (74 FR 61294) relating to information reporting requirements, information reporting penalties, and backup withholding requirements for payment card and third party network transactions.
Notice Requirements for Certain Pension Plan Amendments Significantly Reducing the Rate of Future Benefit Accrual; Correction
Document Number: E9-30535
Type: Rule
Date: 2009-12-23
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains a correction to final regulations (TD 9472) that were published in the Federal Register on Tuesday, November 24, 2009 (74 FR 61270) providing guidance relating to the application of the section 204(h) notice requirements to a pension plan amendment that is permitted to reduce benefits accrued before the plan amendment's applicable amendment date.
Employee Stock Purchase Plans Under Internal Revenue Code Section 423; Correction
Document Number: E9-30350
Type: Rule
Date: 2009-12-22
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to final regulations (TD 9471) that were published in the Federal Register on Tuesday, November 17, 2009 (74 FR 59074) providing guidance to assist taxpayers in complying with section 423 in addition to clarifying certain rules regarding options granted under an employee stock purchase plan.
Information Reporting Requirements Under Internal Revenue Code Section 6039; Correction
Document Number: E9-30349
Type: Rule
Date: 2009-12-22
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to final regulations (TD 9470) that were published in the Federal Register on Tuesday, November 17, 2009 (74 FR 59087) relating to the return and information statement requirements under section 6039 of the Internal Revenue Code.
Information Reporting Requirements Under Internal Revenue Code Section 6039; Correction
Document Number: E9-30348
Type: Rule
Date: 2009-12-22
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to final regulations (TD 9470) that were published in the Federal Register on Tuesday, November 17, 2009 (74 FR 59087) relating to the return and information statement requirements under section 6039 of the Internal Revenue Code.
Open Meeting of the Taxpayer Advocacy Panel Joint Committee
Document Number: E9-30216
Type: Notice
Date: 2009-12-21
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Taxpayer Advocacy Panel Joint Committee will be conducted. The Taxpayer Advocacy Panel is soliciting public comment, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Corporate Reorganizations; Distributions Under Sections 368(a)(1)(D) and 354(b)(1)(B)
Document Number: E9-30170
Type: Rule
Date: 2009-12-18
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations under section 368 of the Internal Revenue Code (Code). The 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. This document also contains final regulations under section 358 that provide guidance regarding the determination of the basis of stock or securities in a reorganization described in section 368(a)(1)(D) where no stock and/or securities of the acquiring corporation is issued and distributed in the transaction. This document also contains final regulations under section 1502 that govern reorganizations described in section 368(a)(1)(D) involving members of a consolidated group. These regulations affect corporations engaging in such transactions and their shareholders.
Postponement of Certain Tax-Related Deadlines by Reason of a Federally Declared Disaster or Terroristic or Military Action; Correction
Document Number: E9-29978
Type: Rule
Date: 2009-12-17
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to final regulations (TD 9443) that were published in the Federal Register on Thursday, January 15, 2009 (74 FR 2370) relating to postponement of certain tax-related deadlines either due to service in a combat zone or due to a Federally declared disaster. The regulations reflect changes in the law made by the Victims of Terrorism Tax Relief Act of 2001, the Tax Extenders and Alternative Minimum Tax Relief Act of 2008 (TEAMTRA), and current IRS practice.
Postponement of Certain Tax-Related Deadlines by Reason of a Federally Declared Disaster or Terroristic or Military Action; Correction
Document Number: E9-29977
Type: Rule
Date: 2009-12-17
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains a correction to final regulations (TD 9443) that were published in the Federal Register on Thursday, January 15, 2009 (74 FR 2370) relating to postponement of certain tax-related deadlines either due to service in a combat zone or due to a Federally declared disaster. The regulations reflect changes in the law made by the Victims of Terrorism Tax Relief Act of 2001, the Tax Extenders and Alternative Minimum Tax Relief Act of 2008 (TEAMTRA), and current IRS practice.
Basis Reporting by Securities Brokers and Basis Determination for Stock
Document Number: E9-29855
Type: Proposed Rule
Date: 2009-12-17
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations relating to reporting sales of securities by brokers and determining the basis of securities. The proposed regulations reflect changes in the law made by the Energy Improvement and Extension Act of 2008 that require brokers when reporting the sale of securities to the IRS to include the customer's adjusted basis in the sold securities and to classify any gain or loss as long-term or short-term. This document also contains proposed regulations reflecting changes in the law that alter how taxpayers compute basis when averaging the basis of shares acquired at different prices and that expand the ability of taxpayers to compute basis by averaging. The document also proposes regulations that provide brokers and others until February 15 to furnish certain information statements to customers. This document also contains proposed regulations that implement new reporting requirements imposed upon persons that transfer custody of stock and upon issuers of stock regarding organizational actions that affect the basis of the issued stock. This document also contains proposed regulations reflecting changes in the law that alter how brokers report short sales of securities. Finally, this document provides for a notice of a public hearing on these proposed regulations.
Performance of Actuarial Services Under the Employee Retirement Income Security Act of 1974; Hearing
Document Number: E9-29752
Type: Proposed Rule
Date: 2009-12-15
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document provides notice of a public hearing on proposed regulations relating to the enrollment of actuaries under section 3042 of the Employee Retirement Income Security Act of 1974.
Reduction in Taxable Income for Housing Hurricane Katrina Displaced Individuals
Document Number: E9-29635
Type: Rule
Date: 2009-12-14
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations relating to the reduction in taxable income under section 302 of the Katrina Emergency Tax Relief Act of 2005. The final regulations also reflect legislation under section 702 of the Heartland Disaster Tax Relief Act of 2008. The final regulations affect taxpayers who provide housing in their principal residences to individuals displaced by certain major disasters.
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 Form 1040EZ, and All Attachments to These Forms
Document Number: E9-28770
Type: Notice
Date: 2009-12-02
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; Form 1040EZ; and all attachments to these forms (see the Appendix to this notice).