Internal Revenue Service November 7, 2018 – Federal Register Recent Federal Regulation Documents

Tax Return Preparer Due Diligence Penalty Under Section 6695(g)
Document Number: 2018-24411
Type: Rule
Date: 2018-11-07
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations relating to the tax return preparer penalty. The final regulations are necessary to implement recent law changes that expand the scope of the tax return preparer due diligence penalty so that it applies to the child tax credit (CTC)/additional child tax credit (ACTC), and the American opportunity tax credit (AOTC) as well as to eligibility to file a return or claim for refund as head of household. The regulations affect tax return preparers.
Modification of Discounting Rules for Insurance Companies
Document Number: 2018-24367
Type: Proposed Rule
Date: 2018-11-07
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations providing guidance on new discounting rules for unpaid losses and estimated salvage recoverable of insurance companies for Federal income tax purposes. The proposed regulations implement recent legislative changes to the Internal Revenue Code (Code) and make other technical improvements to the derivation and use of discount factors. The proposed regulations affect entities taxable as insurance companies. This document invites comments and provides notice of a public hearing on these proposed regulations.
Regulations To Prescribe Return and Time for Filing for Payment of Section 4960, 4966, 4967, and 4968 Taxes and To Update the Abatement Rules for Section 4966 and 4967 Taxes
Document Number: 2018-24285
Type: Proposed Rule
Date: 2018-11-07
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations specifying which return to use to pay certain excise taxes and the time for filing the return. The regulations also implement the statutory addition of two excise taxes to the first-tier taxes subject to abatement. These regulations affect applicable tax-exempt organizations and their related organizations, applicable educational institutions, sponsoring organizations that maintain certain donor advised funds, fund managers of such sponsoring organizations, and certain donors, donor advisors and persons related to a donor or donor advisor of a donor advised fund.