Internal Revenue Service July 2, 2014 – Federal Register Recent Federal Regulation Documents

Guidelines for the Streamlined Process of Applying for Recognition of Section 501(c)(3) Status
Document Number: 2014-15624
Type: Proposed Rule
Date: 2014-07-02
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 regulations that provide guidance to organizations that seek recognition of tax-exempt status under section 501(c)(3) of the Internal Revenue Code. The final and temporary regulations amend current regulations to allow the Commissioner of Internal Revenue to adopt a streamlined application process that certain organizations may use to apply for recognition of tax-exempt status under section 501(c)(3). The text of those temporary regulations also serves as the text of these proposed regulations.
Guidelines for the Streamlined Process of Applying for Recognition of Section 501(c)(3) Status
Document Number: 2014-15623
Type: Rule
Date: 2014-07-02
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final and temporary regulations that provide guidance to eligible organizations seeking recognition of tax- exempt status under section 501(c)(3) of the Internal Revenue Code (Code). The final and temporary regulations amend current regulations to allow the Commissioner of Internal Revenue to adopt a streamlined application process that eligible organizations may use to apply for recognition of tax-exempt status under section 501(c)(3). The text of the temporary regulations also serves as the text of the proposed regulations (REG-110948-14) set forth in the notice of proposed rulemaking on this subject in the Proposed Rules section in this issue of the Federal Register.
Longevity Annuity Contracts
Document Number: 2014-15524
Type: Rule
Date: 2014-07-02
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations relating to the use of longevity annuity contracts in tax-qualified defined contribution plans under section 401(a) of the Internal Revenue Code (Code), section 403(b) plans, individual retirement annuities and accounts (IRAs) under section 408, and eligible governmental plans under section 457(b). These regulations will provide the public with guidance necessary to comply with the required minimum distribution rules under section 401(a)(9) applicable to an IRA or a plan that holds a longevity annuity contract. The regulations will affect individuals for whom a longevity annuity contract is purchased under these plans and IRAs (and their beneficiaries), sponsors and administrators of these plans, trustees and custodians of these plans and IRAs, and insurance companies that issue longevity annuity contracts under these plans and IRAs.