Page maintained by Professor Annette Nellen.
The table below lists tax regulations issued by the Treasury Department and IRS in 2012 in chronological order. The links will take you to the text of the regulations (usually in the Federal Register) and other helpful information.
List of federal tax regulations issued in: 2011 2013
|
Title of Regulation |
Status |
Citation |
IRC Sections |
Additional Information |
|
Allocation and
Apportionment of Interest Expense |
Temporary and proposed regulations |
TD
9571 (1/17/12) |
861 |
"guidance
concerning the allocation and apportionment of interest expense by
corporations owning a 10 percent or greater interest in a partnership,
as well as the allocation and apportionment of interest expense using
the fair market value method. These temporary regulations also update
the interest allocation regulations to conform to the statutory changes
made by section 216 of the legislation commonly referred to as the
Education Jobs and Medicaid Assistance Act (EJMAA), enacted on August
10, 2010, affecting the affiliation of certain foreign corporations for
purposes of section 864(e). These regulations affect taxpayers that
allocate and apportion interest expense." Correction – FR
page 9844 (2/21/12) |
|
Dividend Equivalents From Sources Within the |
Temp
and proposed regs |
TD 9572 (1/23/12) |
863 871 881
1441 |
" relating to
dividend equivalents for purposes of section 871(m) of the Internal
Revenue Code (Code). The regulations provide guidance to nonresident
aliens and foreign corporations that hold notional principal contracts
(NPCs) providing for payments determined by reference to payments of
dividends from sources within the Correction – FR
page 13968 (3/8/12) Correcting Amendment
–
FR 53141 (8/321/12) |
|
Damages Received on
Account of Personal Physical Injuries or Physical Sickness |
Final
regs |
TD 9573 (1/23/12) |
104 |
"amend
the Income Tax Regulations (26 CFR part 1) to reflect amendments made to
section 104(a)(2) of the Internal Revenue Code (Code) by section 1605(a)
and (b) of the Small Business Job Protection Act of 1996, Public Law
104–188, 110 Stat. 1838 (the 1996 Act)." |
|
Dividend Equivalents
from Sources within the |
Temp
and proposed regs |
RIN 1545–BK53 (1/23/12)
REG–157714–06 (1/23/12) |
863 871 881
1441
1461 |
"temporary
regulations relating to dividend equivalents for purposes of section
871(m) of the Internal Revenue Code (Code). The regulations provide
guidance to nonresident aliens and foreign corporations that hold
notional principal contracts (NPCs) providing for payments determined by
reference to payments of dividends from sources within the Correction – FR
page 5700 (2/6/12) |
|
Section 482; Methods
to Determine Taxable Income in Connection With a Cost Sharing
Arrangement |
Correction to
TD 9568 (12/23/11) |
Correction to
TD 9568 (12/23/11) |
482 |
Correction FR
page
3606 (1/25/12) |
|
Information
Reporting by Passport Applicants |
Proposed regs |
REG–208274–86 (1/26/12) |
6039E |
"proposed
regulations that provide information reporting rules for certain
passport applicants. These regulations do not provide information
reporting rules for individuals applying to become permanent residents
(green card holders). This document also withdraws the notice of
proposed rulemaking (57 FR 61373) published in the
Federal
Register on
December 24, 1992." |
|
Longevity Annuity
Contracts |
Proposed regs |
REG–115809–11 (2/3/12) |
401 403 408
408A
6047 |
"purchase
of longevity annuity contracts under 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 section 457 plans. These
regulations will provide the public with guidance necessary to comply
with the required minimum distribution rules under section 401(a)(9).
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 IRAs, and insurance companies that issue longevity
annuity contracts under these plans and IRAs." |
|
Modifications to
Minimum Present Value Requirements for Partial Annuity Distribution
Options under Defined Benefit Pension Plans |
Proposed regs |
REG–110980–10 (2/3/12) |
417 |
"guidance
relating to the minimum present value requirements applicable to certain
defined benefit pension plans. These proposed regulations would change
the regulations regarding the minimum present value requirements for
defined benefit plan distributions to permit plans to simplify the
treatment of certain optional forms of benefit that are paid partly in
the form of an annuity and partly in a more accelerated form. These
regulations would affect sponsors, administrators, participants, and
beneficiaries of defined benefit pension plans." Correction – FR
page 14321 (3/9/12) |
|
Application for Recognition as a 501(c)(29)
Organization |
Temporary regs and Prop.
regs |
TD 9574 (2/7/12)
REG–135071–11 (2/7/12) |
501 |
"temporary
regulations authorizing the IRS to prescribe the procedures by which
certain entities may apply to the IRS for recognition of exemption from
Federal income tax. These regulations affect qualified nonprofit health
insurance issuers, participating in the Consumer Operated and Oriented
Plan program established by the Centers for Medicare and Medicaid
Services, that seek exemption from Federal income tax under the Internal
Revenue Code." |
|
Taxable Medical Devices |
Proposed regs |
REG–113770–10 (2/7/12) |
4191 |
"proposed
regulations that provide guidance on the excise tax imposed on the sale
of certain medical devices under section 4191 of the Internal Revenue
Code, enacted by the Health Care and Education Reconciliation Act of
2010 in conjunction with the Patient Protection and Affordable Care Act.
The proposed regulations affect manufacturers, importers, and producers
of taxable medical devices."
Final regs issued 12/7/12
TD 9604 (and see below) |
|
Summary of Benefits,
Coverage and Uniform Glossary |
Final
rule |
(2/14/12) |
|
"final regulations regarding the summary of benefits and coverage and the
uniform glossary for group health plans and health insurance coverage in
the group and individual markets under the Patient Protection and
Affordable Care Act. This document implements the disclosure
requirements under section 2715 of the Public Health Service Act to help
plans and individuals better understand their health coverage, as well
as other coverage options. A guidance document published elsewhere in
this issue of the Federal
Register provides further guidance regarding compliance."
Additional information from
2/14/12 Fed Reg -
here |
|
Definition of a Taxpayer |
Final
regs |
TD 9576 (2/14/12) |
706 901 |
"guidance relating to the determination of who is considered to pay a
foreign income tax for purposes of the foreign tax credit. These
regulations provide rules for identifying the person with legal
liability to pay the foreign income tax in certain circumstances. These
regulations affect taxpayers claiming foreign tax credits." |
|
Foreign Tax Credit Splitting Events |
Final
and Temp regs Prop
regs |
TD 9577 (2/14/12)
REG–132736–11 (2/14/12) |
704 909 |
Address "a new provision of the Internal Revenue Code (Code) that addresses
situations in which foreign income taxes have been separated from the
related income. These regulations are necessary to provide guidance on
applying the new statutory provision, which was enacted as part of
legislation commonly referred to as the Education Jobs and Medicaid
Assistance Act (EJMAA) on August 10, 2010. These regulations affect
taxpayers claiming foreign tax credits." |
|
Section 482; Methods To Determine Taxable Income
in Connection With a Cost Sharing Arrangement |
Correction to final regs published 12/22/11 |
TD 9568 (2/14/12) |
482 |
"This correction is effective on February 14, 2012 and is applicable
beginning December 22, 2011."
12/22/11 -
TD 9568
Additional
correction issued 2/14/12 -
here |
|
Group Health Plans
and Health Insurance Issuers Relating to Coverage of Preventive Services
under Patient Protection and Affordable Care Act |
Final
rules |
TD 9578 (2/15/12) |
9815 |
"finalize, without change,
interim final regulations authorizing the exemption of group health
plans and group health insurance coverage sponsored by certain religious
employers from having to cover certain preventive health services under
provisions of the Patient Protection and Affordable Care Act." |
|
Furnishing
Identifying Number of Tax Return Preparer |
Prop
regs |
REG–124791–11 (2/15/12) |
6109 |
"guidance on the eligibility of
tax return preparers to obtain a preparer tax identification number
(PTIN). These proposed regulations expand the list of tax return
preparers who may obtain and renew a PTIN. The proposed regulations
additionally provide guidance concerning those tax forms submitted to
the Internal Revenue Service that are considered returns of tax or
claims for refund of tax for purposes of the requirement to obtain a
PTIN and related provisions." |
|
Information
Reporting by Foreign Financial Institutions and Withholding on Certain
Payments, etc. |
Prop
regs |
REG–121647–10 (2/15/12) |
1471
1472
1473
1474 |
" regarding information
reporting by foreign financial institutions (FFIs) with respect to
See changes published in
Announcement
2012-42. |
|
Source of Income From Qualified Fails Charges |
Final
regs and removal of temp regs |
TD 9579 (2/21/12) |
863 |
" prescribe the source of
income received on a qualified fails charge under section 863 of the
Internal Revenue Code (Code). The regulations finalize proposed
regulations and withdraw temporary regulations published on December 8,
2010, and affect persons that pay or are entitled to receive qualified
fails charges, including withholding agents." |
|
Rewards and Awards
for Information Relating to Violations of Internal Revenue Laws |
Final
regs |
TD 9580 (2/22/12) |
7623 |
Relate "to the payment of
rewards under section 7623(a) of the Internal Revenue Code for detecting
underpayments or violations of the internal revenue laws and
whistleblower awards under section 7623(b). The guidance is necessary to
clarify the definition of proceeds of amounts collected and collected
proceeds under section 7623. This regulation provides needed guidance to
the general public as well as officers and employees of the IRS who
review claims under section 7623." |
|
Public Inspection of
Material Relating to Tax-Exempt Organizations |
Final
regs |
TD 9581 (2/29/12) |
6104
6110 |
"pertaining to the public
inspection of material relating to tax exempt organizations and final
regulations pertaining to the public inspection of written
determinations and background file documents. These regulations are
necessary to clarify rules relating to information and materials made
available by the IRS for public inspection under the Internal Revenue
Code (Code). The final regulations affect certain organizations exempt
from Federal income tax, organizations that were exempt but are no
longer exempt from Federal income tax, and organizations that were
denied tax exempt status." |
|
Updating of Employer
Identification Numbers |
Proposed regs |
REG–135491–10 (3/14/12) |
6109 |
"rules requiring any person
assigned an employer identification number (EIN) to provide updated
information to the IRS in the manner and frequency prescribed by forms,
instructions, or other appropriate guidance. These proposed regulations
affect persons with EINs and will enhance the IRS’s ability to maintain
accurate information as to persons assigned EINs." |
|
Apportionment of Tax Items Among the Members of
a Controlled Group of Corporations |
Addition to regs |
CFR Correction (3/28/12) |
1561 |
Text and examples added.to CFR. |
|
Estate Tax; Estates of Decedents Dying After
August 16, 1954 |
Addition to regs |
CFR Correction (3/30/12) |
2053 |
3 examples added |
|
Guidance under
Sections 642 and 643 (Income Ordering Rules) |
Final
regs |
TD 9582 (4/16/12) |
642 643 |
"Federal tax consequences of an
ordering provision in a trust, a will, or a provision of local law that
attempts to determine the tax character of the amounts paid to a
charitable beneficiary of the trust or estate. The final regulations
also make conforming amendments to the regulations under section
643(a)(5). The final regulations affect estates, charitable lead trusts
(CLTs), and other trusts making payments or permanently setting aside
amounts for a charitable purpose." |
|
Deferral of Loss on
Transactions between Members of a Controlled Group |
Final
regs |
TD 9583 (4/16/12) |
267 |
"deferral of losses on the sale
or exchange of property between members of a controlled group and
provides guidance as to the time for taking into account those losses.
These regulations affect corporations that are members of a controlled
group." |
|
Allocation of
Earnings and Profits in Tax-Free Transfers from One Corporation to
Another |
Prop
regs |
REG–141268–11 (4/16/12) |
312 |
"clarify the regulations under
section 312 regarding the allocation of earnings and profits in tax-free
transfers from one corporation to another. The proposed regulations
affect corporations involved in these transfers and their shareholders." |
|
Certain Transfers of
Property to Regulated Investment Companies and Real Estate Investment
Trusts |
Prop
regs |
REG–139991–08 (4/16/12) |
337 |
"guidance concerning certain
transfers of property from a C corporation to a Regulated Investment
Company (RIC) or a Real Estate Investment Trust (REIT) and will affect
the parties to such transactions." |
|
Fees on Health
Insurance Policies and Self-Insured Plans for the Patient-Centered
Outcomes Research Trust Fund |
Prop
regs |
REG–136008–11 (4/17/12) |
6011
6071
6091
6302
4375
4376 |
"proposed regulations that implement and provide guidance on the fees
imposed by the Patient Protection and Affordable Care Act on issuers of
certain health insurance policies and plan sponsors of certain
self-insured health plans to fund the Patient-Centered Outcomes Research
Trust Fund. These proposed regulations affect the issuers and plan
sponsors that are directed to pay those fees." |
|
Guidance on
Reporting Interest Paid to Nonresident Aliens |
Final
regs |
TD 9584 (4/19/12) |
6049 |
"reporting requirements for interest that relates to deposits
maintained at |
|
Examples of
Program-Related Investments |
Prop
regs |
REG–144267–11 (4/19/12) |
4944 |
"guidance to private foundations on program-related investments. These
proposed regulations provide a series of new examples illustrating
investments that qualify as program-related investments. In addition to
private foundations, these proposed regulations affect foundation
managers who participate in the making of program related investments." |
|
Treatment of Gain
Recognized With Respect to Stock in Certain Foreign Corporations Upon
Distributions |
Final
regs and removal of temp regs |
TD 9585 (4/24/12) |
1248 |
"characterization of gain recognized with respect to stock in certain
foreign corporations upon distributions. The regulations finalize
proposed regulations and remove temporary regulations that characterize
gain recognized with respect to stock in foreign corporations upon
distributions as a deemed dividend in certain situations. The
regulations affect certain persons that recognize gain with respect to
stock in connection with the receipt of a distribution of property from
a foreign corporation." |
|
Removal of
Regulations Requiring 3% Withholding by Government Entities |
Final
regs |
TD 9586 (4/25/12)
REG–151687–10
(4/25/12) |
6051
6071
6302 |
"removes the final regulations contained in TD 9524 relating to
withholding by government entities on payments to persons providing
property or services, and makes conforming amendments to regulations to
reflect the removal of these regulations. The final regulations are
removed because the 3% Withholding Repeal and Job Creation Act repealed
the provision of the Internal Revenue Code underlying the final
regulations before the provision became effective. The guidance affects
government entities that would have been required to withhold and report
tax from payments to persons providing property or services and also
affects the persons receiving payments for property or services from
these government entities." Proposed regs under
§3402(t) repealed. |
|
Local Lodging
Expenses |
Prop
regs |
REG–137589–07 (4/25/12) |
162 262 |
"deductibility of expenses for lodging when not traveling away from
home (local lodging). The regulations affect taxpayers who pay or incur
expenses for local lodging." The proposed regs
would allow local lodging to be considered an ordinary and necessary
business expense if based on all facts and circumstances it was incurred
in carrying the trade or business. Per the preamble: "One factor is
whether the taxpayer incurs the expense because of a bona fide
condition or requirement of employment imposed by the taxpayer’s
employer." Thus, if an
employer holds an employee retreat in town and requires the employees to
stay overnight, the expenses are deductible and are not taxable to the
employees. A safe harbor is
provided where the lodging expense is deemed to be ordinary and
necessary if the following four requirements are met: (1) "lodging is
necessary for the individual to participate fully in or be available for
a bona fide business meeting, conference, training activity, or
other business function; (2) The lodging is
for a period that does not exceed five calendar days and does not recur
more frequently than once per calendar quarter; (3) If the
individual is an employee, the employee’s employer requires the employee
to remain at the activity or function overnight; and (4) The lodging is
not lavish or extravagant under the circumstances and does not provide
any significant element of personal pleasure, recreation, or benefit." |
|
Regulations
Pertaining to the Disclosure of Return Information To Carry Out
Eligibility Requirements for Health Insurance Affordability Programs |
Prop
regs |
REG–119632–11 (4/30/12) |
6103 |
Address "disclosure
of return information under section 6103(l)(21) of the Internal Revenue
Code, as enacted by the Patient Protection and Affordable Care Act and
the Health Care and Education Reconciliation Act of 2010. The
regulations define certain terms and prescribe certain items of return
information in addition to those items prescribed by statute that will
be disclosed, upon written request, under section 6103(l)(21) of the
Internal Revenue Code." |
|
Section 42 Qualified
Contract Provisions |
Final
regs |
TD 9587 (5/3/12) |
42 |
"guidance concerning taxpayers’ (that is, owners’) requests to housing
credit agencies to obtain a qualified contract (as defined in section
42(h)(6)(F) of the Internal Revenue Code) for the acquisition of a
low-income housing credit building. Section 42(h)(6)(F) requires the
Secretary to prescribe such regulations as may be necessary or
appropriate to carry out the provisions of section 42(h)(6)(F),
including regulations to prevent the manipulation of the qualified
contract amount. The regulations will affect owners requesting a
qualified contract, potential buyers, and low-income housing credit
agencies responsible for the administration of the low-income housing
credit program." |
|
Allocation of
Mortgage Insurance Premiums |
Final
regs and removal of temp regs |
TD 9588 (5/7/12) |
163 |
"explain how to allocate prepaid qualified mortgage insurance premiums
to determine the amount of the prepaid premium that is treated as
qualified residence interest each taxable year. The final regulations
reflect changes to the law made by the Tax Relief and Health Care Act of
2006, the Mortgage Forgiveness Debt Relief Act of 2007, and the Tax
Relief, Unemployment Insurance Reauthorization, and Job Creation Act of
2010. The regulations affect taxpayers who pay prepaid qualified
mortgage insurance premiums." |
|
Modifications
to Definition of |
Final
and temp regs
Proposed regs |
TD 9589 (5/11/12)
REG–107548–11 (5/11/12) |
956 |
"the treatment of upfront payments made pursuant to certain notional
principal contracts for |
|
Health
Insurance Premium Tax Credit |
Final
regs |
TD 9590 (5/23/12) |
36B
6011
6012 |
"final regulations relating to the health insurance premium tax credit
enacted by the Patient Protection and Affordable Care Act and the Health
Care and Education Reconciliation Act of 2010, as amended by the
Medicare and Medicaid Extenders Act of 2010, the Comprehensive 1099
Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act
of 2011, the Department of Defense and Full-Year Continuing
Appropriations Act, 2011, and the 3% Withholding Repeal and Job Creation
Act. These final regulations provide guidance to individuals who enroll
in qualified health plans through Affordable Insurance Exchanges
(Exchanges) and claim the premium tax credit, and to Exchanges that make
qualified health plans available to individuals and employers." "Under section
36B(c)(1) and the proposed regulations, in general a taxpayer is an
applicable taxpayer for a taxable year only if the taxpayer’s household
income for the taxable year is at least 100 percent but not more than
400 percent of the FPL [Federal Poverty Line] for the taxpayer’s family
size." Correction –
FR 41048 and
FR 41048 (7/12/12) Correction –
FR 41270 (7/13/12) |
|
Property Transferred
in Connection with Performance of Services under Section 83 |
Prop
regs |
REG–141075–09 (5/30/12) |
83 |
"proposed regulations relating to property transferred in connection
with the performance of services under section 83 of the Internal
Revenue Code (Code). These proposed regulations affect certain taxpayers
who received property transferred in connection with the performance of
services." Provide
clarification on when a substantial risk of forfeiture exists and
whether the likelihood that a condition related to the purpose of the
transfer needs to be considered to know if a substantial risk of
forfeiture exists. Correction –
FR 36229 (6/18/12) |
|
Regulations Revising
Rules Regarding Agency for Consolidated Group |
Prop
regs |
REG–142561–07 (5/30/12) |
1502 |
"provide guidance concerning the identity and authority of the agent
for the consolidated group (agent for the group). These proposed
regulations affect all consolidated groups." |
|
Surrogate Foreign
Corporations |
Final
regs |
TD 9591 (6/12/12) |
7874 |
"whether a foreign corporation is treated as a surrogate foreign
corporation. The final regulations affect certain domestic corporations
and partnerships (and certain parties related thereto), and foreign
corporations that acquire substantially all of the properties of such
domestic corporations or partnerships. |
|
Substantial Business
Activities |
Temp
and prop regs |
TD 9592 (6/12/12)
REG 107889–12] (6/12/12) |
7874 |
"whether a foreign corporation has substantial business activities in a
foreign country. These regulations affect certain domestic corporations
and partnerships (and certain parties related thereto), and foreign
corporations that acquire substantially all of the properties of such
domestic corporations or partnerships." "IRS and the
Treasury Department believe the facts and circumstances test of the 2009
temporary regulations should be replaced with a bright-line rule
describing the threshold of activities required for an expanded
affiliated group to have substantial business activities in the relevant
foreign country. The IRS and the Treasury Department believe that such a
rule will provide more certainty in applying section 7874 to particular
transactions than the 2009 temporary regulations and will improve the
administrability of this provision." Correction –
FR 39452 (7/3/12) |
|
Basis of
Indebtedness of S Corporations to their Shareholders |
Prop
regs |
REG–134042–07 (6/12/12) |
108
1366
1367 |
"proposed regulations relating to basis of indebtedness of S
corporations to their shareholders. These proposed regulations provide
that S corporation shareholders increase their basis of indebtedness of
the S corporation to the shareholder only if the indebtedness is bona
fide. The proposed regulations affect shareholders of S corporations." Correction –
FR 39655 (7/5/12) |
|
Portability of a
Deceased Spousal Unused Exclusion Amount |
Temp
and prop regs |
TD 9593 (6/18/12)
REG–141832–11 (6/18/12) |
2010
2505 |
"guidance on the estate
and gift tax applicable exclusion amount, in general, as well as on the
applicable requirements for electing portability of a deceased spousal
unused exclusion (DSUE) amount to the surviving spouse and on the
applicable rules for the surviving spouse’s use of this DSUE amount. The
statutory provisions underlying the portability rules were enacted as
part of the Tax Relief, Unemployment Insurance Reauthorization, and Job
Creation Act of 2010. The portability rules affect married spouses where
the death of the first spouse to die occurs on or after January 1,
2011." |
|
Permission for
Election to Treat Liquidation of Target, Followed by Recontribution to
New Target, as Cross-Chain Reorganization |
Final
regs And
removal of temp regs |
TD 9594 (6/20/12) |
1502 |
"modify the election under which a consolidated group can avoid
immediately taking into account an intercompany item after the
liquidation of a target corporation. These regulations apply to
corporations filing consolidated income tax returns." |
|
Prohibited Payment
Option under Single-Employer Defined Benefit Plan of Plan Sponsor In
Bankruptcy |
Prop
regs |
REG–113738–12 (6/21/12) |
411 |
"guidance under the anti-cutback rules of section 411(d)(6) of the
Internal Revenue Code, which generally prohibit plan amendments
eliminating or reducing accrued benefits, early retirement benefits,
retirement-type subsidies, and optional forms of benefit under qualified
retirement plans. These proposed regulations would provide an additional
limited exception to the anticutback rules to permit a plan sponsor that
is a debtor in a bankruptcy proceeding to amend its single employer
defined benefit plan to eliminate a single-sum distribution option (or
other optional form of benefit providing for accelerated payments) under
the plan if certain specified conditions are satisfied. These proposed
regulations would affect administrators, employers, participants, and
beneficiaries of such a plan." Final regs issued
11/8/12
TD 9601 (see below) |
|
Reporting and Notice
Requirements for Deferred Vested Benefits |
Prop
regs |
REG–153627–08 (6/21/12) |
6057
6081 |
"guidance relating
to automatic extensions of time for filing certain employee plan returns
by adding the Form 8955–SSA, ‘‘Annual Registration Statement Identifying
Separated Participants With Deferred Vested Benefits,’’ to the list of
forms that are covered by the Income Tax Regulations on automatic
extensions. The proposed regulations would also provide guidance on
applicable reporting and participant notice rules that require certain
plan administrators to file registration statements and provide notices
that set forth information for deferred vested participants. These
regulations would affect administrators of, employers maintaining,
participants in, and beneficiaries of plans that are subject to the
reporting and participant notice requirements." Correction –
FR 42462 (7/19/12) |
|
Treatment of Overall
Foreign and Domestic Losses |
Final
regs And
removal of temp regs |
TD 9595 (6/22/12) |
904
1502 |
Relates to "the
recapture of overall domestic losses that was enacted as part of the
American Jobs Creation Act of 2004 (AJCA). These regulations provide
guidance regarding these changes, as well as updated guidance with
respect to overall foreign losses and separate limitation losses, and
affect individuals and corporations claiming foreign tax credits." |
|
Disregarded Entities
and the Indoor Tanning Services Excise Tax |
Final
and Temp regs Prop
regs |
TD 9596 (6/25/12)
REG–125570–11 (6/25/12) |
1361
7701 |
Deals with
"disregarded entities (including qualified subchapter S subsidiaries)
and the indoor tanning services excise tax. These regulations affect
disregarded entities responsible for collecting the indoor tanning
services excise tax and owners of those disregarded entities." Correction –
FR 43157 (7/24/12) |
|
Overall Foreign Loss
Recapture on Property Dispositions |
Prop
regs |
REG–134935–11 (6/26/12) |
904 |
"guidance regarding
the coordination of the rules for determining high-taxed income with
capital gains adjustments and the allocation and recapture of overall
foreign losses and overall domestic losses, as well as the coordination
of the recapture of overall foreign losses on certain dispositions of
property and other rules concerning overall foreign losses and overall
domestic losses. These regulations affect individuals and corporations
claiming foreign tax credits." |
|
Additional
Requirements for Charitable Hospitals |
Prop
regs |
REG–130266–11 (6/26/12) |
501 |
"guidance regarding
the requirements for charitable hospital organizations relating to
financial assistance and emergency medical care policies, charges for
certain care provided to individuals eligible for financial assistance,
and billing and collections. The regulations reflect changes to the law
made by the Patient Protection and Affordable Care Act of 2010. The
regulations will affect charitable hospital organizations." Correction –
FR 47787 (8/10/12) |
|
Deductions for
Entertainment Use of Business Aircraft |
Final
regs |
TD 9597 (8/1/12) |
61 274 |
Address the "use of
business aircraft for entertainment. These final regulations affect
taxpayers that deduct expenses for entertainment, amusement, or
recreation provided to specified individuals. The final regulations
reflect statutory amendments under the American Jobs Creation Act of
2004 (A Correction –
FR 50373 (8/21/12) |
|
Reimbursed
Entertainment Expenses |
Prop
regs |
REG–101812–07 (8/1/12) |
274 |
Explain "the
exception to the deduction limitations on certain expenditures paid or
incurred under reimbursement or other expense allowance arrangements.
These proposed regulations affect taxpayers that pay or receive
advances, allowances, or reimbursements under reimbursement or other
expense allowance arrangements. These proposed regulations clarify the
rules for these arrangements." |
|
Utility Allowances
Submetering |
Prop
regs |
REG–136491–09 (8/7/12) |
42 |
"amend the utility
allowance regulations concerning the low-income housing tax credit. The
proposed regulations update the utility allowance regulations to clarify
that utility costs paid by a tenant based on actual consumption in a
submetered rent-restricted unit are treated as paid by the tenant
directly to the utility company. The proposed regulations affect owners
of low-income housing projects that claim the credit, the tenants in
those low-income housing projects, and the State and local housing
credit agencies that administer the credit." |
|
Allocation of Costs
under the Simplified Methods |
Prop
regs |
REG–126770–06 (9/5/12) |
263A |
"proposed
regulations on allocating costs to certain property produced by the
taxpayer or acquired by the taxpayer for resale. The proposed
regulations affect taxpayers that are producers or resellers of property
that are required to capitalize certain costs to the property and that
allocate costs under the simplified production method or the simplified
resale method. The proposed regulations provide rules for the treatment
of negative additional costs." |
|
Integrated Hedging
Transactions of Qualifying Debt |
Final, temp and prop regs |
TD 9598 (9/6/12)
REG–138489–09 (9/6/12) |
988 |
"address certain
integrated transactions that involve a foreign currency denominated debt
instrument and multiple associated hedging transactions. The regulations
provide that if a taxpayer has identified multiple hedges as being part
of a qualified hedging transaction, and the taxpayer has terminated at
least one but less than all of the hedges (including a portion of one or
more of the hedges), the taxpayer must treat the remaining hedges as
having been sold for fair market value on the date of disposition of the
terminated hedge." Correction –
FR 57013 (9/17/12) |
|
Property Traded on
an Established Market |
Final
regs |
TD 9599 (9/13/12) |
1271
1273
1274
1275 |
"apply to determine
when property is traded on an established market (that is, publicly
traded) for purposes of determining the issue price of a debt
instrument. The regulations amend the current regulations to clarify the
circumstances that cause property to be publicly traded. The regulations
also amend the current regulations for reopenings of debt instruments,
potentially abusive situations, and the definition of qualified stated
interest. The regulations provide guidance to issuers and holders of
debt instruments." |
|
Application of
Section 172(h) Including Consolidated Groups |
Prop
regs |
REG–140668–07 (9/17/12) |
172
1502 |
"proposed
regulations under section 172(h) and section 1502 of the Internal
Revenue Code. These proposed regulations provide guidance regarding the
treatment of corporate equity reduction transactions (CERTs), including
the treatment of multiple step plans for the acquisition of stock and
CERTs involving members of a consolidated group. These proposed
regulations also provide guidance regarding certain elections relating
to the carryback of consolidated net operating losses (CNOLs) to
separate return years. These proposed regulations will affect C
corporations and corporations filing consolidated returns." Correction
FR 64768 (10/23/12). |
|
Regulations
Governing Practice Before Internal Revenue Service [Circular 230] |
Prop
regs |
REG–138367–06 (9/17/12) |
Circular 230 |
Various changes –
see edited Circular 230 showing the changes -
HERE |
|
Reliance Standards
for Making Good Faith Determinations |
Prop
regs |
REG–134974–12 (9/24/12) |
4942
4945 |
"standards for
making a good faith determination that a foreign organization is a
charitable organization, grants to which may be qualifying distributions
and not taxable expenditures. The regulations will affect private
foundations seeking to make such good faith determinations." |
|
New Markets Tax
Credit Non-Real Estate Investments |
Final
regs |
TD 9600 (9/28/12) |
45D |
"final
regulations modifying the new markets tax credit program to facilitate
and encourage investments in non-real estate businesses in low-income
communities. The final regulations affect taxpayers claiming the new
markets tax credit and businesses in low-income communities relying on
the program."
|
|
Prohibited Payment
Option under Single-Employer Defined Benefit Plan of Plan Sponsor in
Bankruptcy |
Final
regs |
TD 9601 (11/8/12) |
411 |
"guidance
under the anti-cutback rules of section 411(d)(6) of the Internal
Revenue Code, which generally prohibit plan amendments eliminating or
reducing accrued benefits, early retirement benefits, retirement-type
subsidies, and optional forms of benefit under qualified retirement
plans. These regulations provide an additional limited exception to the
anti-cutback rules to permit a plan sponsor that is a debtor in a
bankruptcy proceeding to amend its single-employer defined benefit plan
to eliminate a single-sum distribution option (or other optional form of
benefit providing for accelerated payments) under the plan if certain
specified conditions are satisfied. These regulations affect
administrators, employers, participants, and beneficiaries of such a
plan." |
|
Incentives for
Nondiscriminatory Wellness Programs in Group Health Plans |
Prop
regs |
REG–122707–12 (11/26/12) |
9802
9815
9833 |
"proposes
amendments to regulations, consistent with the Affordable Care Act,
regarding nondiscriminatory wellness programs in group health coverage.
Specifically, these proposed regulations would increase the maximum
permissible reward under a health-contingent wellness program offered in
connection with a group health plan (and any related health insurance
coverage) from 20 percent to 30 percent of the cost of coverage. The
proposed regulations would further increase the maximum permissible
reward to 50 percent for wellness programs designed to prevent or reduce
tobacco use. These regulations also include other proposed
clarifications regarding the reasonable design of health-contingent
wellness programs and the reasonable alternatives they must offer in
order to avoid prohibited discrimination." |
|
Net Investment
Income Tax |
Prop
regs |
REG–130507–11 (12/5/12) |
469
1411 |
"proposed
regulations that provide guidance under section 1411 of the Internal
Revenue Code (Code). Section 1402(a)(1) of the Health Care and Education
Reconciliation Act of 2010 added new section 1411 to the Code effective
for taxable years beginning after December 31, 2012. The proposed
regulations affect individuals, estates, and trusts."
FAQs from IRS -
http://www.irs.gov/uac/Newsroom/Net-Investment-Income-Tax-FAQs
Comments from |
|
Rules Relating to
Additional Medicare Tax |
Prop
regs |
REG–130074–11 (12/5/12) |
1401
3101
3102
3202
6011
6205
6402
6413 |
"proposed
regulations relating to Additional Hospital Insurance Tax on income
above threshold amounts (‘‘Additional Medicare Tax’’), as added by the
Affordable Care Act. Specifically, these proposed regulations provide
guidance for employers and individuals relating to the implementation of
Additional Medicare Tax. This document also contains proposed
regulations relating to the requirement to file a return reporting
Additional Medicare Tax, the employer process for making adjustments of
underpayments and overpayments of Additional Medicare Tax, and the
employer and employee processes for filing a claim for refund for an
overpayment of Additional Medicare Tax."
Correction –
FR 6781 (1/31/13)
FAQs from IRS -
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Questions-and-Answers-for-the-Additional-Medicare-Tax
|
|
Fees on Health
Insurance Policies and Self-Insured Plans for Patient-Centered Outcomes
Research Trust Fund |
Final
regs |
TD 9602 (12/6/12) |
6011
6071
6091
6302
4375
4376
4377 |
"implement
and provide guidance on the fees imposed by the Patient Protection and
Affordable Care Act on issuers of certain health insurance policies and
plan sponsors of certain self-insured health plans to fund the
Patient-Centered Outcomes Research Trust Fund. These final regulations
affect the issuers and plan sponsors that are directed to pay those
fees." |
|
Deduction for
Qualified Film and Television Production Costs |
Final
regs and removal of temp regs |
TD 9603 (12/7/12) |
181 |
"deductions
for the cost of producing qualified film and television productions.
These final regulations reflect changes to the law made by the Tax
Extenders and Alternative Minimum Tax Relief Act of 2008 and affect
taxpayers that produce films and television productions within the |
|
Taxable Medical
Devices |
Final
regs |
TD 9604 (12/7/12) |
4191
4216
4221
6416 |
"guidance
on the excise tax imposed on the sale of certain medical devices,
enacted by the Health Care and Education Reconciliation Act of 2010 in
conjunction with the Patient Protection and Affordable Care Act. The
final regulations affect manufacturers, importers, and producers of
taxable medical devices."
Correction –
FR 15878 (3/13/13)
Correction –
FR 15877 (3/13/13) |
|
Guidance Regarding
Deduction and Capitalization of Expenditures Related to Tangible
Property |
Modification to TD 9564 |
Modification to TD 9564 (12/17/12)
TD 9564 (12/27/11)
|
162 167 168 263 |
"These
amendments change the applicability dates of the temporary regulations
to taxable years beginning on or after January 1, 2014, while permitting
taxpayers to choose to apply the temporary regulations for taxable years
beginning on or after January 1, 2012. The amendments to the temporary
regulations will affect all taxpayers that acquire, produce, or improve
tangible property." Correction – FR 75016 (12/19/12)
Notice 2012-73
– additional guidance on effective date of regs – can chose to apply for
tax years beginning on or after 1/1/14 |
|
Awards for
Information Relating to Detecting Underpayments of Tax or Violations of
Internal Revenue Laws (Whistleblower) |
Prop regs |
REG–141066–09 (12/18/12) |
6103
7623 |
"comprehensive
guidance for the award program authorized under Internal Revenue Code
(Code) section 7623, as amended. The regulations provide guidance on
submitting information regarding underpayments of tax or violations of
the internal revenue laws and filing claims for award, as well as on the
administrative proceedings applicable to claims for award under section
7623. The regulations also provide guidance on the determination and
payment of awards, and provide definitions of key terms used in section
7623. Finally, the regulations confirm that the Director, officers, and
employees of the Whistleblower Office are authorized to disclose return
information to the extent necessary to conduct whistleblower
administrative proceedings. The regulations provide needed guidance to
the general public as well as officers and employees of the IRS who
review claims under section 7623."
Correction –
FR 8062 (2/5/13) |
|
Payout Requirements
for Type III Supporting Organizations That Are Not Functionally
Integrated |
Final, Temp and prop regs |
TD 9605 (12/28/12)
REG 155929–06 (12/28/12)
|
509 |
"requirements
to qualify as a Type III supporting organization that is operated in
connection with one or more supported organizations. The regulations
reflect changes to the law made by the Pension Protection Act of 2006.
The regulations will affect Type III supporting organizations and their
supported organizations."
Correction –
FR 9802 (2/12/13) |
|
Use of Controlled
Corporations to Avoid the Application of Section 304 |
Final regs and removal of temp regs |
TD 9606 (12/26/12) |
304 |
"final
regulations addressing sales of stock between related corporations. The
regulations finalize proposed regulations and remove temporary
regulations that apply to certain sales of stock that are
recharacterized as contributions and redemptions, but that are
structured with a principal purpose of redesignating the issuing
corporation or the acquiring corporation. The regulations affect persons
treated as receiving distributions in redemption of stock as a result of
such transactions." |
|
Partners
Distributive Share |
Final regs |
TD 9607 (12/28/12) |
704 |
"application
of the substantiality de minimis rule. In the interest of sound tax
administration, this rule is being made inapplicable. These final
regulations affect partnerships and their partners."
Correction –
FR 3325 (1/16/13) |
|
Disclosure or Use of
Information by Preparers of Returns |
Final regs and removal of temp regs |
TD 9608 (12/28/12) |
7216 |
"rules
relating to the disclosure or use of tax return information by tax
return preparers. These regulations provide updated guidance affecting
tax return preparers regarding the use of information related to lists
for solicitation of tax return business; the disclosure or use of
statistical compilations of data under section 7216 of the Internal
Revenue Code (Code) by a tax return preparer in connection with, or in
support of, a tax return preparer’s tax return preparation business; and
the disclosure or use of information for the purpose of performing
conflict reviews."
Correction –
FR 3325 (1/16/13) |
| This page last updated March 25, 2013 |
|
Page maintained by Professor Annette Nellen. |