Internal Revenue Service August 2, 2016 – Federal Register Recent Federal Regulation Documents

Information Reporting of Catastrophic Health Coverage and Other Issues Under Section 6055
Document Number: 2016-18100
Type: Proposed Rule
Date: 2016-08-02
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations relating to information reporting of minimum essential coverage under section 6055 of the Internal Revenue Code (Code). Health insurance issuers, certain employers, and others that provide minimum essential coverage to individuals must report to the IRS information about the type and period of coverage and furnish related statements to covered individuals. These proposed regulations affect health insurance issuers, employers, governments, and other persons that provide minimum essential coverage to individuals.
Reporting for Qualified Tuition and Related Expenses; Education Tax Credits
Document Number: 2016-18032
Type: Proposed Rule
Date: 2016-08-02
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations that revise the rules for reporting qualified tuition and related expenses under section 6050S on a Form 1098-T, ``Tuition Statement,'' and conforms the regulations to the changes made to section 6050S by the Protecting Americans from Tax Hikes Act of 2015. This document also seeks to amend the regulations on the education tax credits under section 25A generally as well as to conform the regulations to changes made to section 25A by the Trade Preferences Extension Act of 2015 and the Protecting Americans from Tax Hikes Act of 2015. The proposed regulations affect certain higher educational institutions required to file Form 1098-T and taxpayers eligible to claim an education tax credit. This document also provides notice of a public hearing on these proposed regulations.