Internal Revenue Service December 2010 – Federal Register Recent Federal Regulation Documents

Request for Information Regarding Value-Based Insurance Design in Connection With Preventive Care Benefits
Document Number: 2010-32612
Type: Proposed Rule
Date: 2010-12-28
Agency: Employee Benefits Security Administration, Department of Labor, Department of Health and Human Services, Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains a request for information on how group health plans and health insurance issuers can employ value-based insurance design in the coverage of recommended preventive services.
Hybrid Retirement Plans; Correction
Document Number: 2010-32539
Type: Rule
Date: 2010-12-28
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains correctioning amendments to correct errors resulting from the publication of to final regulations (TD 9505) that were published in the Federal Register on Tuesday, October 19, 2010 (75 FR 64123) providing guidance relating to certain provisions of the Internal Revenue Code that apply to hybrid defined benefit pension plans.
Additional Rules Regarding Hybrid Retirement Plans; Correction
Document Number: 2010-32538
Type: Proposed Rule
Date: 2010-12-28
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains a correction to a notice of proposed rulemaking (REG-132554-08) that was published in the Federal Register on Tuesday, October 19, 2010 (75 FR 64197) providing guidance relating to certain provisions of the Internal Revenue Code that apply to hybrid defined benefit pension plans.
Source of Income From Qualified Fails Charges; Correction
Document Number: 2010-32536
Type: Rule
Date: 2010-12-28
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains a correction to temporary regulations (TD 9508) thatwere published in the Federal Register on Wednesday, December 8, 2010 (75 FR 76262)providing guidance about the treatment of fails charges for purposes of sections 871 and 881, which generally require gross-basis taxation of foreign persons not otherwise subject to U.S. net-basis taxation and the withholding of such tax under sections 1441 and 1442.
Nuclear Decommissioning Funds
Document Number: 2010-32049
Type: Rule
Date: 2010-12-23
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations under section 468A of the Internal Revenue Code relating to deductions for contributions to trusts maintained for decommissioning nuclear power plants. These final regulations affect taxpayers that own an interest in a nuclear power plant and reflect recent statutory changes. The corresponding temporary regulations are removed.
Definition of Omission From Gross Income
Document Number: 2010-31747
Type: Rule
Date: 2010-12-17
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations defining an omission from gross income for purposes of the six-year minimum period for assessment of tax attributable to partnership items and the six-year period for assessing tax. The regulations resolve a continuing issue as to whether an overstatement of basis in a sold asset results in an omission from gross income. The regulations will affect any taxpayer who overstates basis in a sold asset creating an omission from gross income exceeding twenty-five percent of the income stated in the return. Additionally, provisions related to estate, gift and excise tax are reinstated from the prior final regulation.
Sales-Based Royalties and Vendor Allowances
Document Number: 2010-31597
Type: Proposed Rule
Date: 2010-12-17
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations relating to the capitalization and allocation of royalties that are incurred only upon the sale of property produced or property acquired for resale (sales- based royalties). This document also contains proposed regulations on adjusting the cost of merchandise inventory for an allowance, discount, or price rebate based on merchandise sales (sales-based vendor allowances). The regulations modify the simplified production method and the simplified resale method of allocating capitalized costs between ending inventory and cost of goods sold. The regulations affect taxpayers that incur capitalizable sales-based royalties and earn sales-based vendor allowances.
Proposed Collection; Comment Request for HCTC Program Forms
Document Number: 2010-31595
Type: Notice
Date: 2010-12-16
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 13930, Central Withholding Agreement.
Proposed Collection; Comment Request for Revenue Procedure 2003-45 and Revenue Procedure 2004-48
Document Number: 2010-31589
Type: Notice
Date: 2010-12-16
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 Revenue Procedure 2003-45, Late Election Relief for S Corporations, and Revenue Procedure 2004-48, Deemed Corporate Election for Late Electing S Corporations.
Requirement of a Statement Disclosing Uncertain Tax Positions
Document Number: 2010-31576
Type: Rule
Date: 2010-12-15
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations allowing the IRS to require corporations to file a schedule disclosing uncertain tax positions related to the tax return as required by the IRS.
Farmer and Fisherman Income Averaging
Document Number: 2010-31497
Type: Rule
Date: 2010-12-15
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations relating to the averaging of farm and fishing income in computing income tax liability. The regulations reflect changes made by the American Jobs Creation Act of 2004 and the Tax Extenders and Alternative Minimum Tax Relief Act of 2008. The regulations provide guidance to individuals engaged in a farming or fishing business who elect to reduce their tax liability by treating all or a portion of the current taxable year's farm or fishing income as if one-third of it had been earned in each of the prior three taxable years.
User Fees Relating to Enrolled Agents and Enrolled Retirement Plan Agents
Document Number: 2010-31033
Type: Proposed Rule
Date: 2010-12-10
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed amendments to the regulations relating to the imposition of user fees for enrolled agents and enrolled retirement plan agents. The proposed regulations separate the enrolled retirement plan agent user fees from the enrolled agent user fees and lower the initial enrollment and renewal of enrollment fees for enrolled agents and enrolled retirement plan agents. The proposed regulations affect individuals who are or apply to become enrolled agents or enrolled retirement plan agents. The charging of user fees is authorized by the Independent Offices Appropriations Act of 1952.
Specified Tax Return Preparers Required To File Individual Income Tax Returns Using Magnetic Media; Correction
Document Number: 2010-31028
Type: Proposed Rule
Date: 2010-12-10
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains a correction to a notice of proposed rulemaking (REG-100194-10) that was published in the Federal Register on Friday, December 3, 2010 (75 FR 75439). The proposed regulations provide further guidance relating to the requirement for ``specified tax return prepares,''.
Proposed Collection; Comment Request for Notice 2005-62
Document Number: 2010-31026
Type: Notice
Date: 2010-12-10
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 2005-62, Modification of Notice 2005-04; Biodiesel and Aviation- Grade Kerosene.
Proposed Collection; Comment Request for Form 8886
Document Number: 2010-31024
Type: Notice
Date: 2010-12-10
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 8886, Reportable Transaction Disclosure Statement.
Proposed Collection; Comment Request for Form 8941
Document Number: 2010-31023
Type: Notice
Date: 2010-12-10
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 8941, Credit for Small Employer Health Insurance Premiums.
Source of Income From Qualified Fails Charges
Document Number: 2010-30896
Type: Proposed Rule
Date: 2010-12-08
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
In the Rules and Regulations section of this Federal Register, the IRS and the Treasury Department are issuing temporary regulations (TD 9508) under section 863(a) of the Internal Revenue Code. These regulations set forth the source of income attributable to qualified fails charges. This action is necessary to provide guidance about the treatment of fails charges for purposes of sections 871 and 881, which generally require gross-basis taxation of foreign persons not otherwise subject to U.S. net-basis taxation and the withholding of such tax under sections 1441 and 1442. The text of the temporary regulations also serves as the text of these proposed regulations.
Source of Income From Qualified Fails Charges
Document Number: 2010-30895
Type: Rule
Date: 2010-12-08
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains temporary regulations which set forth the source of income attributable to qualified fails charges. The temporary regulations provide guidance about the treatment of fails charges for purposes of sections 871 and 881, which generally require gross-basis taxation of foreign persons not otherwise subject to U.S. net-basis taxation and the withholding of such tax under sections 1441 and 1442. The text of the temporary regulations also serves as the text of the proposed regulations set forth in the notice of proposed rulemaking on this subject in the Proposed Rules section in this issue of the Federal Register.
Open Meeting of the Area 6 Taxpayer Advocacy Panel (Including the States of Idaho, Iowa, Minnesota, Montana, Nebraska, North Dakota, Oregon, South Dakota, Utah, Washington, and Wyoming)
Document Number: 2010-30893
Type: Notice
Date: 2010-12-08
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Area 6 Taxpayer Advocacy Panel will be conducted. The Taxpayer Advocacy Panel is soliciting public comment, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Open Meeting of the Area 7 Taxpayer Advocacy Panel (Including the States of Alaska, California, Hawaii, and Nevada)
Document Number: 2010-30892
Type: Notice
Date: 2010-12-08
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Area 7 Taxpayer Advocacy Panel will be conducted. The Taxpayer Advocacy Panel is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Open meeting of the Taxpayer Advocacy Panel Joint Committee
Document Number: 2010-30891
Type: Notice
Date: 2010-12-08
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.
Open Meeting of the Area 1 Taxpayer Advocacy Panel (Including the States of New York, New Jersey, Connecticut, Massachusetts, Rhode Island, New Hampshire, Vermont and Maine)
Document Number: 2010-30890
Type: Notice
Date: 2010-12-08
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Area 1 Taxpayer Advocacy Panel will be conducted. The Taxpayer Advocacy Panel is soliciting public comments, ideas and suggestions on improving customer service at the Internal Revenue Service.
Open Meeting of the Area 2 Taxpayer Advocacy Panel (Including the States of Delaware, North Carolina, South Carolina, Maryland, Pennsylvania, Virginia, West Virginia and the District of Columbia)
Document Number: 2010-30889
Type: Notice
Date: 2010-12-08
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Area 2 Taxpayer Advocacy Panel will be conducted. The Taxpayer Advocacy Panel is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Open Meeting of the Area 3 Taxpayer Advocacy Panel (Including the States of Alabama, Georgia, Florida, Louisiana, Mississippi, Tennessee, and Puerto Rico)
Document Number: 2010-30888
Type: Notice
Date: 2010-12-08
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Area 3 Taxpayer Advocacy Panel will be conducted. The Taxpayer Advocacy Panel is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Open Meeting of the Area 4 Taxpayer Advocacy Panel (Including the States of Illinois, Indiana, Kentucky, Michigan, Ohio, and Wisconsin)
Document Number: 2010-30886
Type: Notice
Date: 2010-12-08
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Area 4 Taxpayer Advocacy Panel will be conducted. The Taxpayer Advocacy Panel is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Open Meeting of the Area 5 Taxpayer Advocacy Panel (Including the States of Arizona, Arkansas, Colorado, Kansas, New Mexico, Missouri, Oklahoma, and Texas)
Document Number: 2010-30885
Type: Notice
Date: 2010-12-08
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Area 5 Taxpayer Advocacy Panel will be conducted. The Taxpayer Advocacy Panel is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Proposed Collection; Comment Request for Form 5884-B
Document Number: 2010-30733
Type: Notice
Date: 2010-12-08
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 5884-B, New Hire Retention Credit.
Basis Reporting by Securities Brokers and Basis Determination for Stock
Document Number: C1-2010-25504
Type: Rule
Date: 2010-12-07
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
Electronic Funds Transfer of Depository Taxes
Document Number: 2010-30526
Type: Rule
Date: 2010-12-07
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains temporary and final regulations relating to Federal tax deposits (FTDs) by Electronic Funds Transfer (EFT). In response to the decision of the Financial Management Service to discontinue the system that processes FTD coupons, the temporary and final regulations provide rules under which depositors must use EFT for all FTDs and eliminate the rules regarding FTD coupons. The temporary and final regulations affect all taxpayers that are required to make FTDs, in particular those taxpayers that currently use FTD coupons.
Specified Tax Return Preparers Required To File Individual Income Tax Returns Using Magnetic Media
Document Number: 2010-30500
Type: Proposed Rule
Date: 2010-12-03
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations relating to the requirement for ``specified tax return preparers,'' generally tax return preparers who reasonably expect to file more than 10 individual income tax returns in a calendar year, to file individual income tax returns using magnetic media pursuant to section 6011(e)(3) of the Internal Revenue Code (Code). The proposed regulations reflect changes to the law made by the Worker, Homeownership, and Business Assistance Act of 2009. The proposed regulations affect specified tax return preparers who prepare and file individual income tax returns, as defined in section 6011(e)(3)(C). For calendar year 2011, the proposed regulations define a specified tax return preparer as a tax return preparer who reasonably expects to file (or if the preparer is a member of a firm, the firm's members in the aggregate reasonably expect to file) 100 or more individual income tax returns during the year, while beginning January 1, 2012 a specified tax return preparer is a tax return preparer who reasonably expects to file (or if the preparer is a member of a firm, the firm's members in the aggregate reasonably expect to file) 11 or more individual income tax returns in a calendar year. The proposed regulations are unrelated to and are not intended to address the requirements for obtaining a preparer tax identification number (PTIN) under section 6109. See the final regulations under section 6109 published in the Federal Register (75 FR 60309-01). This document also provides a notice of a public hearing on these proposed regulations.
Final Treasury Decision; Comment Request for Regulation Project [127391-07], (TD 9403 Final)
Document Number: 2010-30181
Type: Notice
Date: 2010-12-01
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 regulations [127391-07](TD 9403 Final), Guidance under Section 664(c) Regarding the Effect of Unrelated Business Taxable Income on Charitable Remainder Trusts.