Internal Revenue Service November 4, 2011 – Federal Register Recent Federal Regulation Documents

Tax Return Preparer Penalties Under Section 6695; Hearing Cancellation
Document Number: 2011-28660
Type: Proposed Rule
Date: 2011-11-04
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document cancels a public hearing on notice of proposed rulemaking and notice of public hearing (REG-140280-09) that would modify existing regulations related to the tax return preparer penalties under section 6695 of the Internal Revenue Code.
Tax Accounting Elections on Behalf of Foreign Corporations
Document Number: 2011-28658
Type: Proposed Rule
Date: 2011-11-04
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
These proposed regulations would clarify the rules for controlling domestic shareholders to adopt or change a method of accounting or taxable year on behalf of a foreign corporation. The regulations affect United States persons that own stock in certain foreign corporations.