1 RULES: Reduction of Foreign Tax Credit Limitation Categories Under Section 904(d);
This document contains corrections to final and temporary regulations (TD 9368) that were published in the Federal Register on Friday, December 21, 2007 (72 FR 72582) regarding the reduction of the number of separate foreign tax credit limitation categories under section 904(d) of the Internal Revenue Code. These regulations affect taxpayers
2 RULES: Assumption of Liabilities,
This document contains final regulations relating to the assumption of liabilities under section 358(h) of the Internal Revenue Code (Code). Section 358(h) provides that, after application of section 358(d), the basis in stock received in a nonrecognition transaction shall be reduced to the fair market value of the stock by the amount of any
3 PROPOSED RULES: Guidance Under Sections 642 and 643 (Income Ordering Rules); Correction,
This document contains corrections to a notice of proposed rulemaking (REG10125808) that was published in the Federal Register on Wednesday, June 18, 2008 (73 FR 34670) providing guidance under Internal Revenue Code section 642(c) with regard to the Federal tax consequences of an ordering provision in a trust, a will, or a provision of local law
4 RULES: Application of Section 409A to Nonqualified Deferred Compensation Plans;
This document contains corrections to final regulations (TD 9321) which were published in the Federal Register on April 17, 2007 (72 FR 19323), corrected July 31, 2007 (72 FR 41620) and September 24, 2007 (72 FR 54945). The final regulations relate to section 409A and nonqualified deferred compensation plans.
5 PROPOSED RULES: Guidance Regarding the Treatment of Stock of a Controlled Corporation Under
In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations giving guidance regarding the distribution of stock of a controlled corporation acquired in a transaction described in section 355(a)(3)(B) of the Internal Revenue Code. This action is necessary in light of amendments to section
6 RULES: Standards for Recognition of Tax-Exempt Status if Private Benefit Exists, etc.;
This document contains corrections to final regulations (TD 9390) that were published in the Federal Register on Friday, March 28, 2008 (73 FR 16519) clarifying the substantive requirements for tax exemption under section 501(c)(3) of the Internal Revenue Code. These final regulations also contain provisions that clarify the relationship between
7 RULES: Diversification Requirements for Variable Annuity, Endowment, and Life Insurance
This document contains final regulations concerning the diversification requirements of section 817(h) of the Internal Revenue Code (Code). The regulations expand the list of holders whose beneficial interests in an investment company, partnership, or trust do not prevent a segregated asset account from looking through to the assets of the
8 RULES: Alternative Simplified Credit under Section 41(c)(5),
This document contains final and temporary regulations relating to the election and calculation of the alternative simplified credit under section 41(c)(5) of the Internal Revenue Code. The final and temporary regulations implement changes to the credit for increasing research activities under section 41 made by the Tax Relief and Health Care Act
9 PROPOSED RULES: Rules for Home Construction Contracts,
This document contains proposed regulations amending the regulations under Sec. 1.460 to provide guidance to taxpayers in the home construction industry regarding accounting for certain longterm construction contracts that qualify as home construction contracts under section 460(e)(6) of the Internal Revenue Code (Code) and to provide guidance to
10 RULES: Treatment of Payments in Lieu of Taxes Under Section 141,
This document contains final regulations which modify the standards for treating certain payments in lieu of taxes or other tax equivalency payments (PILOTs) as generally applicable taxes for purposes of the private security or payment test under section 141 of the Internal Revenue Code (Code). This action is being taken in order to provide
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