26 CFR 1.451-2 - Constructive receipt of income.
(a)General rule. Income although not actually reduced to a taxpayer's possession is constructively received by him in the taxable year during which it is credited to his account, set apart for him, or otherwise made available so that he may draw upon it at any time, or so that he could have drawn upon it during the taxable year if notice of intention to withdraw had been given. However, income is not constructively received if the taxpayer's control of its receipt is subject to substantial limitations or restrictions. Thus, if a corporation credits its employees with bonus stock, but the stock is not available to such employees until some future date, the mere crediting on the books of the corporation does not constitute receipt. In the case of interest, dividends, or other earnings (whether or not credited) payable in respect of any deposit or account in a bank, building and loan association, savings and loan association, or similar institution, the following are not substantial limitations or restrictions on the taxpayer's control over the receipt of such earnings:
(1) A requirement that the deposit or account, and the earnings thereon, must be withdrawn in multiples of even amounts;
(2) The fact that the taxpayer would, by withdrawing the earnings during the taxable year, receive earnings that are not substantially less in comparison with the earnings for the corresponding period to which the taxpayer would be entitled had he left the account on deposit until a later date (for example, if an amount equal to three months' interest must be forfeited upon withdrawal or redemption before maturity of a one year or less certificate of deposit, time deposit, bonus plan, or other deposit arrangement then the earnings payable on premature withdrawal or redemption would be substantially less when compared with the earnings available at maturity);
(3) A requirement that the earnings may be withdrawn only upon a withdrawal of all or part of the deposit or account. However, the mere fact that such institutions may pay earnings on withdrawals, total or partial, made during the last three business days of any calendar month ending a regular quarterly or semiannual earnings period at the applicable rate calculated to the end of such calendar month shall not constitute constructive receipt of income by any depositor or account holder in any such institution who has not made a withdrawal during such period;
(4) A requirement that a notice of intention to withdraw must be given in advance of the withdrawal. In any case when the rate of earnings payable in respect of such a deposit or account depends on the amount of notice of intention to withdraw that is given, earnings at the maximum rate are constructively received during the taxable year regardless of how long the deposit or account was held during the year or whether, in fact, any notice of intention to withdraw is given during the year. However, if in the taxable year of withdrawal the depositor or account holder receives a lower rate of earnings because he failed to give the required notice of intention to withdraw, he shall be allowed an ordinary loss in such taxable year in an amount equal to the difference between the amount of earnings previously included in gross income and the amount of earnings actually received. See section 165 and the regulations thereunder.
(b)Examples of constructive receipt. Amounts payable with respect to interest coupons which have matured and are payable but which have not been cashed are constructively received in the taxable year during which the coupons mature, unless it can be shown that there are no funds available for payment of the interest during such year. Dividends on corporate stock are constructively received when unqualifiedly made subject to the demand of the shareholder. However, if a dividend is declared payable on December 31 and the corporation followed its usual practice of paying the dividends by checks mailed so that the shareholders would not receive them until January of the following year, such dividends are not considered to have been constructively received in December. Generally, the amount of dividends or interest credited on savings bank deposits or to shareholders of organizations such as building and loan associations or cooperative banks is income to the depositors or shareholders for the taxable year when credited. However, if any portion of such dividends or interest is not subject to withdrawal at the time credited, such portion is not constructively received and does not constitute income to the depositor or shareholder until the taxable year in which the portion first may be withdrawn. Accordingly, if, under a bonus or forfeiture plan, a portion of the dividends or interest is accumulated and may not be withdrawn until the maturity of the plan, the crediting of such portion to the account of the shareholder or depositor does not constitute constructive receipt. In this case, such credited portion is income to the depositor or shareholder in the year in which the plan matures. However, in the case of certain deposits made after December 31, 1970, in banks, domestic building and loan associations, and similar financial institutions, the ratable inclusion rules of section 1232(a)(3) apply. See § 1.1232-3A. Accrued interest on unwithdrawn insurance policy dividends is gross income to the taxpayer for the first taxable year during which such interest may be withdrawn by him.
Title 26 published on 09-Mar-2018 03:46
The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 26 CFR Part 1 after this date.
GPO FDSys XML | Text type regulations.gov FR Doc. 2018-05011 RIN 1545-BL87 TD 9588 DEPARTMENT OF THE TREASURY, Internal Revenue Service Correcting amendment. This correction is effective on March 13, 2018 and is applicable on or after May 7, 2012. 26 CFR Part 1 This document contains corrections to final regulations (TD 9588) that were published in the Federal Register on Monday, May 7, 2012. The final regulations are related 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.
GPO FDSys XML | Text type regulations.gov FR Doc. 2018-02918 RIN 1545-BO17 REG-132197-17 DEPARTMENT OF THE TREASURY, Internal Revenue Service Notice of proposed rulemaking. Written or electronic comments and requests for a public hearing must be received by May 14, 2018. 26 CFR Parts 1, 5, 5c, 5f, 7, 11, 13, 16, 19, 20, 25, 31, 48, 49, 54, 55, 148, 301, 404, 601, and 602 Pursuant to the policies stated in Executive Orders 13777 and 13789 (the executive orders), the Treasury Department and the IRS conducted a review of existing regulations, with the goal of reducing regulatory burden for taxpayers by revoking or revising existing tax regulations that meet the criteria set forth in the executive orders. This notice of proposed rulemaking proposes to streamline IRS regulations by removing 298 regulations that are no longer necessary because they do not have any current or future applicability under the Internal Revenue Code (Code) and by amending 79 regulations to reflect the proposed removal of the 298 regulations. The proposed removal and amendment of these regulations may affect various categories of taxpayers.
GPO FDSys XML | Text type regulations.gov FR Doc. 2018-01989 RIN 1545-BO00 REG-118067-17 DEPARTMENT OF THE TREASURY, Internal Revenue Service Notice of proposed rulemaking. Written or electronic comments and requests for a public hearing must be received by May 3, 2018. 26 CFR Parts 1 and 301 This document contains proposed regulations implementing section 1101 of the Bipartisan Budget Act of 2015, which was enacted into law on November 2, 2015. The Bipartisan Budge Act repeals the current rules governing partnership audits and replaces them with a new centralized partnership audit regime that, in general, determines, assesses and collects tax at the partnership level. These proposed regulations provide rules addressing how partnerships and their partners adjust tax attributes to take into account partnership adjustments under the centralized partnership audit regime.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-27862 RIN 1545-BJ08 TD 9825 DEPARTMENT OF THE TREASURY, Internal Revenue Service Correcting amendment. This correction is effective on December 27, 2017 and is applicable on or after October 19, 2017. 26 CFR Part 1 This document contains corrections to final regulations (TD 9825) that were published in the Federal Register on Thursday, October 19, 2017. The final regulations are under section 597 of the Internal Revenue Code. These final regulations amend existing regulations that address the federal income tax treatment of transactions in which federal financial assistance is provided to banks and domestic building and loan associations, and they clarify the federal income tax consequences of those transactions to banks, domestic building and loan associations, and related parties.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-27863 RIN 1545-BJ08 TD 9825 DEPARTMENT OF THE TREASURY, Internal Revenue Service Final regulations; correction. This correction is effective on December 27, 2017 and applicable on or after October 19, 2017. 26 CFR Part 1 This document contains corrections to final regulations (TD 9825) that were published in the Federal Register on Thursday, October 19, 2017. The final regulations are under section 597 of the Internal Revenue Code. These final regulations amend existing regulations that address the federal income tax treatment of transactions in which federal financial assistance is provided to banks and domestic building and loan associations, and they clarify the federal income tax consequences of those transactions to banks, domestic building and loan associations, and related parties.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-27865 RIN 1545-BM80 REG-119514-15 DEPARTMENT OF THE TREASURY, Internal Revenue Service Notice of proposed rulemaking; correction. Written or electronic comments and requests for a public hearing, for the notice of proposed rulemaking at 82 FR 60135, December 19, 2017, are still being accepted and must be received by March 19, 2018. 26 CFR Part 1 This document contains corrections to the proposed regulations (REG-119514-15) that were published in the Federal Register on Tuesday, December 19, 2017. The proposed regulations provide guidance on the treatment of foreign currency gain or loss of a controlled foreign corporation (CFC) under the business needs exclusion from foreign personal holding company income (FPHCI). The proposed regulations also provide an election for a taxpayer to use a mark-to-market method of accounting for foreign currency gain or loss attributable to section 988 transactions. In addition, the proposed regulations permit the controlling United States shareholders of a CFC to automatically revoke certain elections concerning the treatment of foreign currency gain or loss.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-27320 RIN 1545-BM80 REG-119514-15 DEPARTMENT OF THE TREASURY, Internal Revenue Service Notice of proposed rulemaking. Written or electronic comments and requests for a public hearing must be received by March 19, 2018. 26 CFR Part 1 This document contains proposed regulations that provide guidance on the treatment of foreign currency gain or loss of a controlled foreign corporation (CFC) under the business needs exclusion from foreign personal holding company income (FPHCI). The proposed regulations also provide an election for a taxpayer to use a mark-to-market method of accounting for foreign currency gain or loss attributable to section 988 transactions. In addition, the proposed regulations permit the controlling United States shareholders of a CFC to automatically revoke certain elections concerning the treatment of foreign currency gain or loss. The proposed regulations affect taxpayers and United States shareholders of CFCs that engage in transactions giving rise to foreign currency gain or loss under section 988 of the Internal Revenue Code (Code).
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-24687 RIN 1545-BL87 TD 9803 DEPARTMENT OF THE TREASURY, Internal Revenue Service Correcting amendment. This correction is effective on November 15, 2017 and is applicable on or after December 16, 2016. 26 CFR Part 1 This document contains corrections to final regulations (TD 9803) that were published in the Federal Register on Friday, December 16, 2016. The final regulations are related to certain transfers of property by United States persons to foreign corporations.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-22830 RIN 1545-BM33 TD 9815 DEPARTMENT OF THE TREASURY, Internal Revenue Service Final regulations and temporary regulations; Correcting amendments. Effective Date: These corrections are effective October 26, 2017. Applicability Date: The corrections to §§ 1.1.871-15, 1.871-15T, 1.1441-1(e)(5)(v)(B)( 4 ), (e)(6), and (f)(5), 1.1441-2, 1.1441-7, and 1.1461-1 are applicable on January 19, 2017. 26 CFR Part 1 This document contains corrections to final and temporary regulations (TD TD 9815), which were published in the Federal Register on Tuesday, January 24, 2017.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-22815 RIN 1545-BN73 REG-134247-16 DEPARTMENT OF THE TREASURY, Internal Revenue Service Notice of proposed rulemaking; correction. The correction published on September 15, 2017 (82 FR 43314), is corrected as of October 26, 2017 and is applicable beginning January 6, 2017. 26 CFR Part 1 This document corrects a correction to a notice of proposed rulemaking (REG-134247-16) that was published in the Federal Register on Friday, September 15, 2017. The notice of proposed rulemaking, published on January 6, 2017, under section 1441 of the Internal Revenue Code of 1986 (Code), relates to withholding of tax on certain U.S. source income paid to foreign persons and requirements for certain claims for refund or credit of income tax made by foreign persons.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-22777 RIN 1545-BM99 REG-129067-15 DEPARTMENT OF THE TREASURY, Internal Revenue Service Withdrawal of notice of proposed rulemaking. As of October 20, 2017, the notice of proposed rulemaking (REG-129067-15) that was published in the Federal Register on February 23, 2016, (81 FR 8870) is withdrawn. 26 CFR Part 1 This document withdraws a notice of proposed rulemaking regarding the definition of a political subdivision for purposes of tax-exempt bonds.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-21129 RIN 1545-BJ08 TD 9825 DEPARTMENT OF THE TREASURY, Internal Revenue Service Final regulations. Effective Date: These regulations are effective on October 19, 2017. Applicability date: These regulations apply on or after October 19, 2017, except with respect to FFA provided pursuant to an agreement entered into before such date. In the latter case, §§ 1.597-1 through 1.597-7 as contained in 26 CFR part 1, revised April 1, 2017, will continue to apply unless the taxpayer elects pursuant to § 1.597-7(c) of these regulations to apply §§ 1.597-1 through 1.597-6 of these regulations on a retroactive basis. The election to apply §§ 1.597-1 through 1.597-6 of these regulations on a retroactive basis cannot be made if the period for assessment and collection of federal income tax has expired under the rules of section 6501 for any taxable year in which §§ 1.597-1 through 1.597-6 would affect the determination of the electing entity's or group's income, deductions, gain, loss, basis, or other items. 26 CFR Part 1 This document contains final regulations under section 597 of the Internal Revenue Code (Code). These final regulations amend existing regulations that address the federal income tax treatment of transactions in which federal financial assistance (FFA) is provided to banks and domestic building and loan associations, and they clarify the federal income tax consequences of those transactions to banks, domestic building and loan associations, and related parties. These regulations affect banks, domestic building and loan associations, and related parties.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-22205 RIN DEPARTMENT OF THE TREASURY Regulatory review. October 16, 2017. 26 CFR Parts 1 and 301 On April 21, 2017, the President issued Executive Order 13789 (82 FR 19317), a directive designed to reduce tax regulatory burdens. The order directed the Secretary of the Treasury to identify significant tax regulations issued on or after January 1, 2016, that impose an undue financial burden on U.S. taxpayers, add undue complexity to the Federal tax laws, or exceed the statutory authority of the Internal Revenue Service (IRS). In an interim Report to the President dated June 22, 2017, Treasury identified eight such regulations. Executive Order 13789 further directs the Secretary to submit to the President and publish in the Federal Register a report recommending specific actions to mitigate the burden imposed by regulations identified in the interim report. This Second Report sets forth the Secretary's recommendations.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-22080 RIN 1545-BN94 REG-116256-17 DEPARTMENT OF THE TREASURY, Internal Revenue Service Notice of proposed rulemaking. Electronic or written comments and requests for a public hearing must be received by November 13, 2017. 26 CFR Part 1 This document contains proposed amendments to the regulation relating to the requirements for making a valid election under section 754 of the Internal Revenue Code of 1986 (Code), as amended. The proposed regulation affects partnerships and their partners by removing a regulatory burden in making an election to adjust the basis of partnership property.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-21741 RIN DEPARTMENT OF THE TREASURY, Internal Revenue Service 26 CFR Part 1 GPO FDSys XML | Text type regulations.gov FR Doc. 2017-21742 RIN DEPARTMENT OF THE TREASURY, Internal Revenue Service 26 CFR Part 1
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-21485 RIN 1545-BM71 TD9826 DEPARTMENT OF THE TREASURY, Internal Revenue Service Final regulations. Effective date: These regulations are effective on October 5, 2017. Applicability date: These regulations apply to plan years beginning on or after January 1, 2018. 26 CFR Part 1 This document contains final regulations prescribing mortality tables to be used by most defined benefit pension plans. The tables specify the probability of survival year-by-year for an individual based on age, gender, and other factors. This information is used (together with other actuarial assumptions) to calculate the present value of a stream of expected future benefit payments for purposes of determining the minimum funding requirements for a defined benefit plan. These mortality tables are also relevant in determining the minimum required amount of a lump-sum distribution from such a plan. In addition, this document contains final regulations updating the requirements that a plan sponsor must meet to obtain IRS approval to use mortality tables specific to the plan for minimum funding purposes (instead of using the generally applicable mortality tables). These regulations affect participants in, beneficiaries of, employers maintaining, and administrators of certain retirement plans.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-20661 RIN 1545-BG91 REG-128841-07 DEPARTMENT OF THE TREASURY, Internal Revenue Service Withdrawal of notice of proposed rulemaking and notice of proposed rulemaking. Comments and requests for a public hearing must be received by December 27, 2017. 26 CFR Parts 1 and 5f This document contains proposed regulations to update and streamline the public approval requirement provided in section 147(f) of the Internal Revenue Code applicable to tax-exempt private activity bonds issued by State and local governments. The proposed regulations would update the existing regulations on the public approval requirement to reflect statutory changes, to streamline the public approval process, and to reduce burden on State and local governments that issue tax-exempt private activity bonds. This document also withdraws two previous notices of proposed rulemaking on this topic. The proposed regulations affect State and local governments that issue tax-exempt private activity bonds.
GPO FDSys XML | Text type regulations.gov FR Doc. C1-2017-19753 RIN 1545-BN60 REG-125374-16 DEPARTMENT OF THE TREASURY, Internal Revenue Service 26 CFR Parts 1, 5f, and 46
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-19910 RIN 1545-BN35 REG-105004-16 DEPARTMENT OF THE TREASURY, Internal Revenue Service Notice of proposed rulemaking. Written or electronic comments and requests for a public hearing must be received by December 18, 2017. 26 CFR Parts 1, 31, and 301 This document contains proposed amendments to the regulations under sections 6051 and 6052 of the Internal Revenue Code (Code). To aid employers' efforts to protect employees from identity theft, these proposed regulations would amend existing regulations to permit employers to voluntarily truncate employees' social security numbers (SSNs) on copies of Forms W-2, Wage and Tax Statement, that are furnished to employees so that the truncated SSNs appear in the form of IRS truncated taxpayer identification numbers (TTINs). These proposed regulations also would amend the regulations under section 6109 to clarify the application of the truncation rules to Forms W-2 and to add an example illustrating the application of these rules. Additionally, these proposed amendments would delete obsolete provisions and update cross references in the regulations under sections 6051 and 6052. These proposed regulations affect employers who are required to furnish Forms W-2 and employees who receive Forms W-2.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-19753 RIN 1545-BN60 REG-125374-16 DEPARTMENT OF THE TREASURY, Internal Revenue Service Partial withdrawal of notice of proposed rulemaking and notice of proposed rulemaking. Comments and requests for a public hearing must be received by December 18, 2017. 26 CFR Parts 1, 5f, and 46 This document contains proposed regulations that provide guidance on the definitions of registration-required obligation and registered form, including guidance on the issuance of pass-through certificates and participation interests in registered form. This document also withdraws a portion of previously proposed regulations regarding the definition of a registration-required obligation. The proposed regulations generally are necessary to address changes in market practices as well as issues raised by the statutory repeal of the foreign-targeted bearer obligation exception to the registered form requirement. The proposed regulations will affect issuers and holders of obligations in registered form as well as issuers and holders of registration-required obligations that are not issued in registered form.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-19538 RIN 1545-BN73 REG-134247-16 DEPARTMENT OF THE TREASURY, Internal Revenue Service Notice of proposed rulemaking; correction. This correction is effective September 15, 2017 and is applicable beginning January 6, 2017. 26 CFR Part 1 This document contains a correction to a notice of proposed rulemaking (REG-134247-16) that was published in the Federal Register on Friday, January 6, 2017 (82 FR 1645). The notice of proposed rulemaking under section 1441 of the Internal Revenue Code of 1986 (Code) relates to withholding of tax on certain U.S. source income paid to foreign persons and requirements for certain claims for refund or credit of income tax made by foreign persons.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-19540 RIN 1545-BL96 REG-103477-14 DEPARTMENT OF THE TREASURY, Internal Revenue Service Notice of proposed rulemaking; correction. This correction is effective September 15, 2017 and is applicable beginning January 6, 2017. 26 CFR Part 1 This document contains a correction to a notice of proposed rulemaking (REG-103477-14) that was published in the Federal Register on Friday, January 6, 2017 (82 FR 1629). The notice of proposed rulemaking under chapter 4 of the Subtitle A (sections 1471 through 1474) of the Internal Revenue Code of 1986 (Code) relates to verification and certification requirements for certain entities and reporting by foreign financial institutions.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-19396 RIN DEPARTMENT OF THE TREASURY, Internal Revenue Service 26 CFR Part 1 GPO FDSys XML | Text type regulations.gov FR Doc. 2017-19397 RIN DEPARTMENT OF THE TREASURY, Internal Revenue Service 26 CFR Part 1
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-18983 RIN 1545-BL00 TD 9812 DEPARTMENT OF THE TREASURY, Internal Revenue Service Correcting amendments. These corrections are effective on September 7, 2017, and applicable beginning January 13, 2017. 26 CFR Part 1 This document contains corrections to the final regulations (T.D. 9812) that were published in the Federal Register on Wednesday, January 18, 2017. The regulations identify certain stock of a foreign corporation that is disregarded in calculating ownership of the foreign corporation for purposes of determining whether it is a surrogate foreign corporation.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-18691 RIN 1545-BM95 TD 9814 DEPARTMENT OF THE TREASURY, Internal Revenue Service Final and temporary regulations; correcting amendment. These corrections are effective on September 5, 2017 and applicable on January 18, 2017. 26 CFR Part 1 This document contains corrections to the temporary regulations (T.D. 9814) that were published in the Federal Register on Thursday, January 19, 2017 (82 FR 7582). The regulations address transfers of appreciated property by United States persons to partnerships with foreign partners related to the transferor. The regulations override the rules providing for nonrecognition of gain on a contribution of property to a partnership in exchange for an interest in the partnership under section 721(a) of the Internal Revenue Code (Code) pursuant to section 721(c) unless the partnership adopts the remedial method and certain other requirements are satisfied.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-17135 RIN 1545-BG41 TD 9777 DEPARTMENT OF THE TREASURY, Internal Revenue Service Correcting amendment. This correction is effective August 14, 2017 and applicable July 18, 2016. 26 CFR Part 1 This document contains a correction to final regulations (TD 9777) that were published in the Federal Register on Monday, July 18, 2016 (81 FR 46582). The final regulations relate to the arbitrage restrictions under section 148 of the Internal Revenue Code applicable to tax-exempt bonds and other tax-advantaged bonds issued by State and local governments.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-15642 RIN 1545-BM09 TD 9822 DEPARTMENT OF THE TREASURY, Internal Revenue Service Final regulations and removal of temporary regulations. Effective Date: These regulations are effective on July 24, 2017. Applicability Date: For applicability dates, see §§ 1.36B-2(d), 1.36B-3(m), 1.36B-4(c), and 1.162(l)-1(c). 26 CFR Part 1 This document contains final regulations relating to the health insurance premium tax credit. These regulations affect individuals who enroll in qualified health plans through Affordable Insurance Exchanges (Exchanges, also called Marketplaces) and claim the premium tax credit and Exchanges that make qualified health plans available to individuals.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-15543 RIN 1545-BN42 REG-112800-16 DEPARTMENT OF THE TREASURY, Internal Revenue Service Notice of a public hearing on notice of proposed rulemaking. The public hearing is being held on Wednesday, October 25, 2017 at 10:00 a.m. The IRS must receive outlines of the topics to be discussed at the public hearing by Wednesday, October 11, 2017. 26 CFR Part 1 This document provides a notice of public hearing on proposed changes to the regulations under section 468A of the Internal Revenue Code of 1986 (Code) relating to deductions for contributions to trusts maintained for decommissioning nuclear power plants and the use of the amounts in those trusts to decommission nuclear plants.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-15209 RIN 1545-BN13 TD 9821 DEPARTMENT OF THE TREASURY, Internal Revenue Service Final and temporary regulations. Effective Date: These regulations are effective July 20, 2017. Applicability Date: For dates of applicability, see §§ 1.1446-3T(g)-(h), 1.6012-6T(c)-(d), 1.6031(a)-1T(f)-(g), 1.6032-1T(b)-(c), 1.6033-2T(k)-(l), 1.6041-2T(d)-(e), 1.6041-6T(c)-(d), 1.6072-2T(g)-(h), 1.6081-1T(c)-(d), 1.6081-2T(h)-(i), 1.6081-3T(g)-(h), 1.6081-5T(f)-(g), 1.6081-6T(g)-(h), 1.6081-9T(f)-(g), and 31.6071(a)-1T(g)-(h). For additional information, see the dates of applicability section of this preamble. 26 CFR Parts 1 and 31 This document contains final and temporary regulations that update the due dates and extensions of time to file certain tax returns and information returns. The dates are updated to reflect the new statutory requirements set by section 2006 of the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 and section 201 of the Protecting Americans from Tax Hikes Act of 2015. These regulations affect taxpayers who file Form W-2 (series, except Form W-2G), Form W-3, Form 990 (series), Form 1099-MISC, Form 1041, Form 1041-A, Form 1065, Form 1120 (series), Form 4720, Form 5227, Form 6069, Form 8804, or Form 8870.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-15211 RIN 1545-BN12 REG-128483-15 DEPARTMENT OF THE TREASURY, Internal Revenue Service Notice of proposed rulemaking by cross-reference to temporary regulations. Written or electronic comments and requests for a public hearing must be received by October 18, 2017. 26 CFR Parts 1 and 31 In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations that update the due dates and extensions of time to file certain tax returns and information returns. The text of those regulations also serves as the text of these proposed regulations.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-14723 RIN 1545-BI18 REG-139633-08 DEPARTMENT OF THE TREASURY, Internal Revenue Service Partial withdrawal of notice of proposed rulemaking. As of July 13, 2017, the proposed revisions to § 1.332-2(b) and (e); the proposed addition of Example 2 to § 1.332-2(e); the proposed additions of § 1.351-1(a)(1)(iii) and (a)(1)(iv); the proposed addition of Example 4 to § 1.351-1(a)(2); the proposed amendments to § 1.368-1(a) and (b); the proposed addition of § 1.368-1(f); and the proposed revision to § 1.368-2(d)(1) in the notice of proposed rulemaking (REG-163314-03) that was published in the Federal Register (70 FR 11903) on March 10, 2005 are withdrawn. 26 CFR Part 1 This document withdraws the remaining part of a notice of proposed rulemaking containing proposed regulations that would have required an exchange or distribution of net value for certain corporate formations and reorganizations to qualify for nonrecognition treatment under the Internal Revenue Code (Code). Other parts of the notice of proposed rulemaking were previously adopted as final regulations. The proposed regulations being withdrawn also addressed the treatment of certain distributions not qualifying for tax-free treatment under section 332 of the Code. The proposed regulations being withdrawn would have affected corporations and their shareholders.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-13634 RIN 1545-BL17 TD 9808 DEPARTMENT OF THE TREASURY, Internal Revenue Service Correcting amendment. Effective Date: These corrections are effective June 30, 2017. Applicability Date: The corrections to §§ 1.1441-0; 1.1441-1(b)(7)(ii)(B), (e)(3)(iv)(B) and (C), (e)(4)(ii)(B)( 11 ), (e)(4)(ix)(D), (e)(5)(ii) through (e)(5)(ii)(B), (e)(5)(ii)(D) through (e)(5)(v)(B)( 3 ), (e)(5)(v)(B)( 5 ) through (e)(5)(v)(D), and (f) through (f)(4); 1.1441-1T; 1.1441-3(d)(1); 1.1441-4; 1.6045-1(m)(2)(ii) and (n)(12)(ii); and 1.6049-5(c)(1) through (c)(4) are applicable on January 6, 2017. 26 CFR Part 1 This document contains corrections to final and temporary regulations (TD 9808), which were published in the Federal Register on Friday, January 6, 2017 (82 FR 2046). These regulations are related to withholding of tax on certain U.S. source income paid to foreign persons, information reporting and backup withholding with respect to payments made to certain U.S. persons, and portfolio interest paid to nonresident alien individuals and foreign corporations.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-13631 RIN 1545-BL72 TD 9809 DEPARTMENT OF THE TREASURY, Internal Revenue Service Final and temporary regulations; correction. This correction is effective June 30, 2017 and is applicable beginning January 6, 2017. 26 CFR Parts 1 and 301 This document contains a correction to final and temporary regulations (TD 9809) that were published in the Federal Register on Friday, January 6, 2017 (82 FR 2124). The final and temporary regulations under chapter 4 of Subtitle A (sections 1471 through 1474) of the Internal Revenue Code of 1986 (Code) relate to information reporting by foreign financial institutions (FFIs) with respect to U.S. accounts and withholding on certain payments to FFIs and other foreign entities.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-13632 RIN 1545-BL72 TD 9809 DEPARTMENT OF THE TREASURY, Internal Revenue Service Correcting amendments. These corrections are effective June 30, 2017 and are applicable beginning January 6, 2017. 26 CFR Part 1 This document contains corrections to final and temporary regulations (TD 9809) that were published in the Federal Register on Friday, January 6, 2017 (82 FR 2124). The final and temporary regulations under chapter 4 of the Subtitle A (sections 1471 through 1474) of the Internal Revenue Code of 1986 (Code) relate to information reporting by foreign financial institutions (FFIs) with respect to U.S. accounts and withholding on certain payments to FFIs and other foreign entities.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-13866 RIN 1545-BM06 TD 9819 DEPARTMENT OF THE TREASURY, Internal Revenue Service Final regulations and removal of temporary regulations. Effective Date: These regulations are effective on June 30, 2017. Applicability Dates: For dates of applicability, see §§ 1.501(a)-1(f), 1.501(c)(3)-1(h), and 1.508-1(c). 26 CFR Part 1 This document contains final regulations that allow the Commissioner of Internal Revenue to adopt a streamlined application process that eligible organizations may use to apply for recognition of tax-exempt status under section 501(c)(3) of the Internal Revenue Code (Code). The final regulations affect organizations seeking recognition of tax-exempt status under section 501(c)(3).
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-01055 RIN 1545-BN18 TD 9805 DEPARTMENT OF THE TREASURY, Internal Revenue Service Temporary regulations; correction. This correction is effective January 31, 2017 and applicable December 19, 2016. 26 CFR Part 1 This document contains corrections to temporary regulations (TD 9805) that published in the Federal Register on Monday, December 19, 2016 (81 FR 91738). The temporary regulations provide guidance regarding the distribution by a distributing corporation of stock or securities of a controlled corporation without the recognition of income, gain, or loss.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-01163 RIN 1545-BM33 TD 9815 DEPARTMENT OF THE TREASURY, Internal Revenue Service Final regulations and temporary regulations. Effective Date: These regulations are effective on January 19, 2017. Applicability Dates: For dates of applicability, see §§ 1.871-15(r); 1.871-15T(r)(4); 1.1441-1(f)(5); 1.1441-2(f); 1.1441-7(a)(4); 1.1461-1(i). 26 CFR Part 1 This document provides guidance to nonresident alien individuals and foreign corporations that hold certain financial products providing for payments that are contingent upon or determined by reference to U.S. source dividend payments. This document also provides guidance to withholding agents that are responsible for withholding U.S. tax with respect to a dividend equivalent, as well as certain other parties to section 871(m) transactions and their agents.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-00497 RIN 1545-BN40 TD 9790 DEPARTMENT OF THE TREASURY, Internal Revenue Service Final and temporary regulations; correction. These corrections are effective on January 23, 2017, and applicable October 21, 2016. 26 CFR Part 1 This document contains corrections to the final and temporary regulations (T.D. 9790) that were published in the Federal Register on Friday, October 21, 2016 (81 FR 72858). The regulations relate to the determination of whether an interest in a corporation is treated as stock or indebtedness for all purposes of the Internal Revenue Code.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-00498 RIN 1545-BN40 TD 9790 DEPARTMENT OF THE TREASURY, Internal Revenue Service Correcting amendments. These corrections are effective on January 23, 2017, and applicable October 21, 2016. 26 CFR Part 1 This document contains corrections to the final and temporary regulations (T.D. 9790) that were published in the Federal Register on Friday, October 21, 2016 (81 FR 72858). The regulations relate to the determination of whether an interest in a corporation is treated as stock or indebtedness for all purposes of the Internal Revenue Code.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-01161 RIN 1545-BN76 REG-135122-16 DEPARTMENT OF THE TREASURY, Internal Revenue Service Notice of proposed rulemaking by cross-reference to temporary regulations. Written or electronic comments must be received by April 24, 2017. 26 CFR Part 1 This document contains proposed regulations relating to certain financial products providing for payments that are contingent upon or determined by reference to U.S. source dividend payments.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-01208 RIN 1545-BM43 TD 9817 DEPARTMENT OF THE TREASURY, Internal Revenue Service Final regulations. Effective Date: These regulations are effective January 19, 2017. Applicability Date: For dates of applicability, see § 1.7704-4(g). 26 CFR Part 1 This document contains final regulations under section 7704(d)(1)(E) of the Internal Revenue Code (Code) relating to the qualifying income exception for publicly traded partnerships to not be treated as corporations for Federal income tax purposes. Specifically, these regulations define the activities that generate qualifying income from exploration, development, mining or production, processing, refining, transportation, and marketing of minerals or natural resources. These regulations affect publicly traded partnerships and their partners.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-00946 RIN 1545-BN63 REG-133353-16 DEPARTMENT OF THE TREASURY, Internal Revenue Service Notice of proposed rulemaking by cross-reference to temporary regulation; correction. Written or electronic comments and request for public hearing for the notice of proposed rulemaking by cross-reference to temporary regulation at 81 FR 89022, December 9, 2016, are still being accepted and must be received by March 9, 2017. 26 CFR Part 1 This document contains corrections to a notice of proposed rulemaking by cross-reference to temporary regulation (REG-133353-16) that was published in the Federal Register on Friday, December 9, 2016. The proposed regulations authorize the disclosure of specified return information to the Census Bureau (Bureau) for purposes of structuring the censuses and national economic accounts and conducting related statistical activities authorized by title 13.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-01365 RIN 1545-BK09 TD 9811 DEPARTMENT OF THE TREASURY, Internal Revenue Service Final regulations. Effective Date: The regulations are effective on January 19, 2017. Applicability Date: The regulations are applicable on January 19, 2017. 26 CFR Part 1 This document contains final regulations regarding the application of the modified carryover basis rules of section 1022 of the Internal Revenue Code (Code). Specifically, the final regulations modify provisions of the Treasury Regulations involving basis rules by including a reference to section 1022 where appropriate. The regulations will affect property transferred from certain decedents who died in 2010. The regulations reflect changes to the law made by the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-01048 RIN 1545-BN81 REG-127203-15 DEPARTMENT OF THE TREASURY, Internal Revenue Service Notice of proposed rulemaking by cross-reference to temporary regulation. Written or electronic comments and requests for a public hearing must be received by April 19, 2017. 26 CFR Part 1 In the Rules and Regulations section of this issue of the Federal Register, temporary regulations are being issued under sections 197, 704, 721(c), and 6038B of the Internal Revenue Code (Code) that address transfers of appreciated property by U.S. persons to partnerships with foreign partners related to the transferor. The temporary regulations affect U.S. partners in domestic or foreign partnerships. The text of the temporary regulations also serves as the text of these proposed regulations.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-01056 RIN 1545-BI35 REG-137604-07 DEPARTMENT OF THE TREASURY, Internal Revenue Service Withdrawal of notice of proposed rulemaking and notice of proposed rulemaking. Written or electronic comments and requests for a public hearing must be received by April 19, 2017. 26 CFR Parts 1 and 301 This document withdraws proposed regulations relating to the definition of an authorized placement agency for purposes of a dependency exemption for a child placed for adoption that were issued prior to the changes made to the law by the Working Families Tax Relief Act of 2004 (WFTRA). This document contains proposed regulations that reflect changes made by WFTRA and by the Fostering Connections to Success and Increasing Adoptions Act of 2008 (FCSIAA) relating to the dependency exemption. This document also contains proposed regulations that, to reflect current law, amend the regulations relating to the surviving spouse and head of household filing statuses, the tax tables for individuals, the child and dependent care credit, the earned income credit, the standard deduction, joint tax returns, and taxpayer identification numbers for children placed for adoption. These proposed regulations change the IRS's position regarding the category of taxpayers permitted to claim the childless earned income credit. In determining a taxpayer's eligibility to claim a dependency exemption, these proposed regulations change the IRS's position regarding the adjusted gross income of a taxpayer filing a joint return for purposes of the tiebreaker rules and the source of support of certain payments that originated as governmental payments. These regulations provide guidance to individuals who may claim certain child-related tax benefits.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-01049 RIN 1545-BM95 TD 9814 DEPARTMENT OF THE TREASURY, Internal Revenue Service Final and temporary regulations. Effective Date: These regulations are effective on January 18, 2017. Applicability Dates: For dates of applicability, see §§ 1.197-2T(l)(5)(i), 1.704-1T(f), 1.704-3T(g)(1), 1.721(c)-1T(e), 1.721(c)-2T(e), 1.721(c)-3T(e), 1.721(c)-4T(d), 1.721(c)-5T(g), 1.721(c)-6T(g), and 1.6038B-2T(j)(4)(i). 26 CFR Part 1 This document contains temporary regulations that address transfers of appreciated property by United States persons (U.S. persons) to partnerships with foreign partners related to the transferor. The regulations override the rules providing for nonrecognition of gain on a contribution of property to a partnership in exchange for an interest in the partnership under section 721(a) of the Internal Revenue Code (Code) pursuant to section 721(c) unless the partnership adopts the remedial method and certain other requirements are satisfied. The document also contains regulations under sections 197, 704, and 6038B that apply to certain transfers described in section 721. The regulations affect U.S. partners in domestic or foreign partnerships. The text of the temporary regulations also serves as the text of the proposed regulations set forth in the notice of proposed rulemaking on this subject in the Proposed Rules section of this issue of the Federal Register . The final regulations revise and add cross-references to coordinate the application of the temporary regulations.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-00479 RIN 1535-BN06 TD 9810 DEPARTMENT OF THE TREASURY, Internal Revenue Service Final regulations. Effective Date: These regulations are effective January 18, 2017. Applicability Dates: For dates of applicability, see § 1.337(d)-7(g)(2)(iii). 26 CFR Part 1 This document contains final regulations effecting the repeal of the General Utilities doctrine by the Tax Reform Act of 1986. The final regulations address the length of time during which a RIC or a REIT may be subject to corporate level tax on certain dispositions of property. The final regulations affect RICs and REITs.
GPO FDSys XML | Text type regulations.gov FR Doc. 2017-00643 RIN 1545-BL00 TD 9812 DEPARTMENT OF THE TREASURY, Internal Revenue Service Final regulations, temporary regulations, and removal of temporary regulations. Effective Date: These regulations are effective on January 18, 2017. Applicability Dates: For dates of applicability, see §§ 1.7874-4(k), 1.7874-5(e), 1.7874-7T(h), and 1.7874-10T(i). 26 CFR Part 1 This document contains final regulations that identify certain stock of a foreign corporation that is disregarded in calculating ownership of the foreign corporation for purposes of determining whether it is a surrogate foreign corporation. These regulations also provide guidance on the effect of transfers of stock of a foreign corporation after the foreign corporation has acquired substantially all of the properties of a domestic corporation or of a trade or business of a domestic partnership. 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 of the trades or businesses of such domestic partnerships. The text of the temporary regulations also serves as the text of the proposed regulations set forth in the notice of proposed rulemaking on Rules Regarding Inversions and Related Transactions in the Proposed Rules section of this issue of the Federal Register .