Internal Revenue Service June 22, 2016 – Federal Register Recent Federal Regulation Documents

Modification of Treatment of Certain Health Organizations
Document Number: 2016-14784
Type: Rule
Date: 2016-06-22
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations that provide guidance to Blue Cross and Blue Shield organizations, and certain other organizations, on computing and applying the medical loss ratio and the consequences for not meeting the medical loss ratio threshold. The final regulations reflect the enactment of a technical correction to section 833(c)(5) of the Internal Revenue Code by the Consolidated and Further Continuing Appropriations Act of 2015. The final regulations affect Blue Cross and Blue Shield organizations, and certain other organizations involved in providing health insurance.
Application of Section 409A to Nonqualified Deferred Compensation Plans
Document Number: 2016-14331
Type: Proposed Rule
Date: 2016-06-22
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations that would clarify or modify certain specific provisions of the final regulations under section 409A (TD 9321, 72 FR 19234). This document also withdraws a specific provision of the notice of proposed rulemaking (REG-148326-05) published in the Federal Register on December 8, 2008 (73 FR 74380) regarding the calculation of amounts includible in income under section 409A(a)(1) and replaces that provision with revised proposed regulations. These proposed regulations would affect participants, beneficiaries, sponsors, and administrators of nonqualified deferred compensation plans.
Deferred Compensation Plans of State and Local Governments and Tax-Exempt Entities
Document Number: 2016-14329
Type: Proposed Rule
Date: 2016-06-22
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations prescribing rules under section 457 of the Internal Revenue Code for the taxation of compensation deferred under plans established and maintained by State or local governments or other tax exempt organizations. These proposed regulations include rules for determining when amounts deferred under these plans are includible in income, the amounts that are includible in income, and the types of plans that are not subject to these rules. The proposed regulations would affect participants, beneficiaries, sponsors, and administrators of certain plans sponsored by State or local governments or tax-exempt organizations that provide for a deferral of compensation. This document also provides a notice of a public hearing on the proposed regulations.