Small Business Taxes & Management
IRS Pronouncements--2014


Small Business Taxes & ManagementTM--Copyright 2014, A/N Group, Inc.

Note. The list below contains a synopses of selected revenue rulings, revenue procedures, notices, announcements and regulations beginning with those issued January 1, 2014. The list is limited to those items we believe to be of interest to small to mid-sized business owners, their advisors, CPAs, enrolled agents, etc. Rulings, etc. dealing with banks, insurance companies, exotic transactions, etc. are generally excluded. For a similar listing for prior years, go to:

IRS Pronouncements--2013
IRS Pronouncements--2012
IRS Pronouncements--2011
IRS Pronouncements--2010
IRS Pronouncements--2009
IRS Pronouncements--2008
IRS Pronouncements--2007
IRS Pronouncements--2006
IRS Pronouncements--2005
IRS Pronouncements--2004
IRS Pronouncements--2003
IRS Pronouncements--2002
IRS Pronouncements--2001
IRS Pronouncements--2000

We've included the IRB (Internal Revenue Bulletin) reference so you can find the full text on the IRS web site. We've tried to make the list as searchable as possible while keeping the descriptions short. Use the "find-in-page" or "find" feature of your browser (CTRL-F) to search this list. Be sure to try variations of keywords such as "activities" as well as "activity"; "depreciation" as well as "depreciate". You can download any Bulletin at the IRS website. The Applicable Federal Rate and interest rates on over- and underpayments are updated on our IRS Interest Rates page or, for more details go to the IRS AFR page

Notes.

For Revenue Rulings-- www.irs.gov/pub/irs-drop/rr-14-xx.pdf
For Revenue Procedures-- www.irs.gov/pub/irs-drop/rp-14-xx.pdf
For Notices-- www.irs.gov/pub/irs-drop/n-14-xx.pdf

The xx must be at least two digits. Thus, Revenue Ruling 5 for 2014 would be: www.irs.gov/pub/irs-drop/RR-14-05.pdf   For prior years, change the 14 to the appropriate year (available years vary).

 

New Additions - Bulletin 51

Announcement 2014-38 (IRB 2014-51) FACTA intergovernmental agreement; IGA; jurisdictions treated as if agreement in effect; Announcement 2014-17.
Announcement 2014-37 (IRB 2014-51) Correction to Notice 2014-70; typographical error.
Announcement 2014-34 (IRB 2014-51) Transfer of certain technical responsibility for issues involving exempt organizations, qualified retirement plans, IRAs to Office of Chief Counsel along with realignment of Tax Exempt and Government Entities Division.

For the full text of these rulings, go to Internal Revenue Bulletin 2014-51

 

Cumulative Listings - 2014

Revenue Rulings

Rev. Rul. 2014-32 (IRB 2013-50) Qualified transportation fringe; smartcards, debit or credit cards, or other electronic media; shipping fees on transit passes; cash reimbursement arrangement.
Rev. Rul. 2014-30 (IRB 2013-49) Sec. 1274A; inflation adjusted numbers; imputed interest; qualified debt instrument.
Rev. Rul. 2014-25 (IRB 2013-40) Sec. 1.61-21(g); fringe benefits aircraft valuation formula; SIFL cents-per-mile rate; employer-provided aircraft; second half of 2014.
Rev. Rul. 2014-23 (IRB 2014-40) Interest rates; underpayments and overpayments; quarter beginning October 1, 2014; 3 percent on noncorporate.
Rev. Rul. 2014-21 (IRB 2014-34) Special use value of farms; interest rates; Sec. 2032A election; decedents dying in 2014.
Rev. Rul. 2014-14 (IRB 2014-27) Interest rates; underpayments and overpayments; quarter beginning July 1, 2014; 3 percent on noncorporate.
Rev. Rul. 2014-18 (IRB 2014-26) Sec. 457A; 409A; nonstatutory stock option; stock appreciation right; granted by nonqualified entity; Notice 2009-8 amplified.
Rev. Rul. 2014-17 (IRB 2014-24) Tangible assets; conversion of corn to fuel grade ethanol; asset class 49.5.
Rev. Rul. 2014-15 (IRB 2014-24) Employers funding retiree health benefits through wholly owned subsidiary; arrangement is insurance.
Rev. Rul. 2014-9 (IRB 2014-17) Simplified safe harbor due diligence for plan administrators reasonably conclude an amount received was a valid rollover contribution.
Rev. Rul. 2014-11 (IRB 2014-14) Interest rates; underpayments and overpayments; quarter beginning April 1, 2014; 3 percent on noncorporate.
Rev. Rul. 2014-10 (IRB 2013-14) Sec. 1.61-21(g); fringe benefits aircraft valuation formula; SIFL cents-per-mile rate; employer-provided aircraft; first half of 2014.
Rev. Rul. 2014-3 (IRB 2014-2) 2014 covered compensation tables; permitted disparity; defined benefit plans.
Rev. Rul. 2014-2 (IRB 2014-2) National Mortgage Settlement payments; tax treatment of payments to homeowners; agreement with five bank mortgage servicers; foreclosure abuses.

 

Revenue Procedures

Rev. Proc. 2014-62 (IRB 2014-50) Sec. 36B; applicable percentage table to calculate individual's premium assistance credit; plans beginning after calendar year 2015; required contribution percentage.
Rev. Proc. 2014-61 (IRB 2014-47) Inflation adjustments; cost-of-living adjustments; COLA; individual tax rate tables; personal exemption; standard deduction; estate and gift exemptions.
Rev. Proc. 2014-58 (IRB 2014-45) Substitutes for W-2 and W-3; paper and computer generated.
Rev. Proc. 2014-57 (IRB 2014-45) Substitutes for Form 941; paper and computer-generated; Schedule B.
Rev. Proc. 2014-56 (IRB 2014-45) Publication 1223; specification for substitute forms W-2c and W-3c.
Rev. Proc. 2014-55 (IRB 2014-44) Canadian retirement plans; deemed election to defer U.S. income tax on income accruing in a plan until a distribution is made; elimination of reporting requirement.
Rev. Proc. 2014-54 (IRB 2014-41) Sec. 168; automatic consent to change methods of accounting; late partial disposition election; depreciation; depreciable property; capitalization; Rev. Proc. 2011-14 and 2014-17 modified.
Rev. Proc. 2014-52 (IRB 2014-38) Sec. 42; amounts of unused housing credit carryovers allocated to qualified states for 2014.
Rev. Proc. 2014-50 (IRB 2014-37) Sec. 142; qualifying major disaster; suspension of income requirements for displaced individuals; qualified residential rental projects financed with exempt facility bonds.
Rev. Proc. 2014-49 (IRB 2014-37) Sec. 42; temporary relief from certain requirements; qualifying major disaster; emergency housing relief; income requirement suspended for individuals displaced by disaster.
Rev. Proc. 2014-48 (IRB 2014-36) Sec. 471; rules to obtain automatic consent to change method of accounting under the retail inventory method.
Rev. Proc. 2014-47 (IRB 2014-35) Withholding Foreign Partnership (WP); Withholding Foreign Trust (WT); updates.
Rev. Proc. 2014-45 (IRB 2014-34) Money market fund share redemption; wash sale; Sec. 1091
Rev. Proc. 2014-46 (IRB 2014-33) Monthly national average premium for qualified health plans for bronze level for 2014 for use in determining maximum individual shared responsibility payment.
Rev. Proc. 2014-41 (IRB 2014-33) Sec. 36B; calculation method to resolve interrelationship between Sec. 162(l) deduction and premium tax credit; tentative and alternative calculations.
Rev. Proc. 2014-37 (IRB 2014-33) Sec. 36B; applicable percentage table; premium assistance credit amount for taxable years beginning after calendar 2014; required contribution percentage; eligibility for affordable employer-sponsored minimum essential coverage; eligibility for exemption from individual shared responsibility payment.
Rev. Proc. 2014-43 (IRB 2014-32) Procedures individual payee must follow to validate a social security number to prevent backup withholding following receipt of a second B notice from payor.
Rev. Proc. 2014-40 (IRB 2014-30) Sec. 501(c)(3); Form 1023-EZ; streamlined application for recognition of exemption; assets of $250,000 or less; procedures for determination letters.
Rev. Proc. 2014-42 (IRB 2014-29) Annual Filing Season Program; voluntary continuing education for tax preparers who are not CPAs, attorneys, or enrolled agents; Rev. Proc. 81-38 regarding limited practice before the IRS modified and superseded.
Rev. Proc. 2014-39 (IRB 2014-29) Qualified Intermediary (QI) agreement updated; foreign intermediaries; Rev. Proc. 2000-12 superseded in part.
Rev. Proc. 2014-38 (IRB 2014-29) FFI Agreement update; participating FFIs; Sec. 1471; reporting financial institutions; Model 2 intergovernmental agreement; IGA; Rev. Proc. 2014-13 modified and superseded.
Rev. Proc. 2014-35 (IRB 2014-26) Indian tribal governments; safe harbor for general welfare exclusion; benefits to tribal members.
Rev. Proc. 2014-32 (IRB 2014-23) Pension plans; 5500; penalty relief for failure to timely comply with reporting requirements; Secs. 6652(e); 6692; 6047(e); 6058; 6059.
Rev. Proc. 2014-33 (IRB 2014-22) Sec. 263A, 471; T.D. 9652; accounting for sales-based royalties; sales-based vendor chargebacks; compliance with final regulations; automatic consent.
Rev. Proc. 2014-31 (IRB 2014-20) Average area purchase price safe harbors; qualified mortgage bonds; qualified mortgage credit certificates; QMB; MCC; Rev. Proc. 2013-28 obsoleted.
Rev. Proc. 2014-30 (IRB 2014-20) Health Savings Accounts; HSAs; 2015 inflation adjusted amounts.
Rev. Proc. 2014-28 (IRB 2014-16) Opinion and advisory letters for Sec. 403(b) pre-approved plans; prototype plans; Rev. Proc. 2013-22 revised.
Rev. Proc. 2014-25 (IRB 2014-15) Sec. 911; failure to meet eligibility requirements because of adverse conditions in a foreign country preclude meeting requirements; current list of countries.
Rev. Proc. 2014-24 (IRB 2014-13) Sec. 1502; affiliated group; Form 1122 not filed; subsidiary treated as if form filed; treated as member of consolidated group.
Rev. Proc. 2014-23 (IRB 2014-12) Qualified mortgage bonds; Sec. 143; mortgage credit certificates; median gross income figures; high housing cost areas.
Rev. Proc. 2014-17 (IRB 2014-12) Automatic consent of Commissioner; change in accounting methods; Secs. 167; 168; T.D. 9636; REG-110732-13; Rev. Proc. 2011-14 modified; depreciation; repair regulations; capitalization; assets.
Rev. Proc. 2014-22 (IRB 2014-11) Form 990; redesign; Rev. Proc. 79-6 inconsistent; Rev. Proc. 799-6 revoked.
Rev. Proc. 2014-21 (IRB 2014-11) Vehicles; passenger automobiles; trucks; depreciation deduction limitations; lease inclusion amount; vehicles placed in service in 2014.
Rev. Proc. 2014-19 (IRB 2014-10) Errors in Rev. Proc. 2014-4; errors regarding expedited handling of exempt organization (EO) Determination Letter requests.
Rev. Proc. 2014-20 (IRB 2014-9) Treatment of indebtedness secured by 100 percent of ownership interest in a disregarded entity that holds real property; safe harbor; Sec. 108(c)(3)(A); mezzanine financing in workouts.
Rev. Proc. 2014-16 (IRB 2014-9) Automatic consent to accounting method change; accounting for acquisition, production, or improvement of tangible property; self-constructed assets; real property acquired under foreclosure.
Rev. Proc. 2014-18 (IRB 2014-7) Automatic extension; certain states with no filing requirement to elect portability; decedent's unused exclusion; decedent's dying after December 31, 2010 and before January 1, 2014; same-sex couples; Rev. Proc. 2014-3 amplified.
Rev. Proc. 2014-15 (IRB 2014-5) Disclosure on income tax return of item or position; adequacy for reducing understatement of income tax; Rev. Proc. 2012-51 updated.
Rev. Proc. 2014-12 (IRB 2014-3) Challenge of partnership allocations; Sec. 47 credits; rehabilitation credits.
Rev. Proc. 2014-11 (IRB 2014-3) Procedures for reinstating tax-exempt status of organizations that have had their exemption automatically revoked under Sec. 6033(j); failure to file required annual returns; Notice 2011-44 modified and superseded.
Rev. Proc. 2014-10 (IRB 2014-2) Procedures for issuing determination letters and rulings on private foundation status; Sec. 509(a); exempt operating foundation status; Sec. 4942; operating foundation status; nonexempt charitable trusts; Sec. 509(a)(3); Rev. Proc. 2013-10 superseded.
Rev. Proc. 2014-8 (IRB 2014-1) User fees for employee plans and exempt organizations; guidance for complying with the user fee program; letter rulings; determination letters; Tax Exempt and Government Entities Division; Rev. Proc. 2013-8 superseded.
Rev. Proc. 2014-7 (IRB 2014-1) Areas in which rulings will not be issued; Associated Chief Counsel (International); letter rulings; determination letters; Rev. Proc. 2013-7 superseded.
Rev. Proc. 2014-6 (IRB 2014-1) Employee plans determination letters; qualified status of plans under Sections 401(a), 403(a), 409, and 4975; Rev. Proc. 2013-6 superseded; Rev. Proc. 2011-49 modified.
Rev. Proc. 2014-5 (IRB 2014-1) Technical advice; furnishing technical advice to area managers and appeals offices; Tax Exempt and Government Entities; employee plans; actuarial matters; Rev. Proc. 2013-5 superseded.
Rev. Proc. 2014-4 (IRB 2014-1) Rulings and information letters; issuance procedures; letter rulings; matters related to sections of the Code currently under the jurisdiction of the Office of the Division Commissioner, Tax Exempt and Government Entities; Rev. Proc. 2013-4 superseded.
Rev. Proc. 2014-3 (IRB 2014-1) Areas in which rulings will not be issued (domestic areas); Financial Institutions and Products; Income Tax and Accounting; Passthroughs and Special Industries; Procedure and Administration; Rev. Proc. 2013-3 superseded; Rev. Proc. 2013-32 superseded, in part.
Rev. Proc. 2014-2 (IRB 2014-1) Technical advice; when and how IRS will issue technical advice memoranda to a director or Appeals Area Director; rights of a taxpayer when a field office requests a TAM regarding a tax matter; Rev. Proc. 2013-2 superseded.
Rev. Proc. 2014-1 (IRB 2014-1) Letter rulings; information letters; Associate Chief Counsel; corporate; financial institutions and products; income tax and accounting; international; passthroughs and special industires; procedure and administration; tax exempt and government entities; Large Business and International Division; Small Business/Self Employed; Rev. Proc. 2013-1 superseded; Rev. Proc. 2013-32 superseded in part.

 

Regulations

T.D. 9704 (IRB 2014-50) sec. 357; 6038B; U.S. person's transfer of stock to foreign corporation; nonrecognition treatment; gain recognition agreement; GRA; Form 926.
T.D. 9702 (IRB 2014-48) Sec. 368; 358; allocation of basis in all cash D reorganizations; final regulations clarification.
T.D. 9700 (IRB 2014-48) Sec. 312; 381; allocation of earnings and profits in tax-free transfers from one corporation to another; definition of acquiring corporation.
T.D. 9698 (IRB 2014-47) Form 2290, Heavy Highway Vehicle Use Tax Return; 25 or more vehicles mandatory electronic filing; taxable gross weight of 55,000 or more.
T.D. 9699 (IRB 2014-46) Removal of regulations relating to information reporting and backup withholding for Qualifed Payment Card Agent program; QPCA.
T.D. 9697 (IRB 2014-43) Limited-scope vision or dental benefits; excepted benefits; employee assistance program; EAP; benefits not subject to market reforms of Affordable Care Act; minimum essential coverage.
T.D. 9696 (IRB 2014-43) Sec. 162; lodging expenses while not traveling away from home; local lodging.
T.D. 9695 (IRB 2014-42) Sec. Filing certain employee retirement benefit plan statement, returns, and reports on magnetic media.
T.D. 9694 (IRB 2014-41) Sec. 162; limit on compensation deduction for health insurance providers.
T.D. 9693 (IRB 2014-41) Sec. 411; hybrid defined benefit plans; market rate of return limitation.
T.D. 9692 (IRB 2014-40) Sec. 4302; voluntary withholding agreements; income tax withholding.
T.D. 9691 (IRB 2014-38) Application of straddle rules to a debt instrument that is a position in personal property.
T.D. 9690 (IRB 2014-38) Sec. 9815; coverage without cost sharing of preventive health services; religious objection to coverage of contraceptive services.
T.D. 9689 (IRB 2014-36) Sec. 168; MACRS; dispositions of property subject to depreciation; general asset account regulations; partial dispositions.
T.D. 9688 (IRB 2014-36) Sec. 471; retail inventory method of accounting; clarification of ending inventory values; vendor allowances.
T.D. 9687 (IRB 2014-36) Sec. 7623; award program; whistleblower awards.
T.D. 9686 (IRB 2014-34) Sec. 6707; 6111; assessment of penalties against material advisors; failure to file true and complete return.
T.D. 9685 (IRB 2014-34) Sec. 382; temporary regulation; corporation stock was or is owned by Department of Treasury and sole to a public group; REG-105067-14.
T.D. 9683 (IRB 2014-33) Premium tax credit; victims of domestic abuse or spousal abandonment; claim of premium tax credit using Married Filing Separately status; allocation rules for reconciling advance credit payments.
T.D. 9682 (IRB 2014-33) S corporations; basis of indebtedness to shareholders; increase in loan basis only for bona fide loans.
T.D. 9681 (IRB 2014-33) Deductibility of start-up expenditures and organizational expenses for partnerships following termination of partnership under Sec. 708.
T.D. 9680 (IRB 2014-32) Sec. 174; research and experimental expenditures; treatment of amounts paid or incurred in connection with the development of tangible property, including pilot models.
T.D. 9679 (IRB 2014-32) U.S. citizens applying for passports; required information that must be provided on application form; imposition of $500 penalty for failure to provide.
T.D. 9678 (IRB 2014-32) Explanation of how to account for unrealized gain or loss on a position held by a taxpayer prior to the time taxpayer establishes an identified mixed straddle.
T.D. 9676 (IRB 2014-32) Sec. 864; allocation and apportionment of interest expense.
T.D. 9664 (IRB 2014-32) Sec. 67; amendment; final regulations apply to taxable years beginning after December 31, 2014.
T.D. 9675 (IRB 2014-31) Creation of new taxpayer identification number; truncated taxpayer identification; TTIN.
T.D. 9673 (IRB 2014-30) Sec. 401; required minimum distributions; longevity annuity contract; individual retirement annuities and accounts; eligible government plans.
T.D. 9672 (IRB 2014-30) Sec. 45R; tax credit for small employers that offer health insurance to employees; Patient Protection and Affordable Care Act.
T.D. 9671 (IRB 2014-29) 90-day waiting period limitation; bona fide employment based orientation period for group health coverage; Affordable Care Act.
T.D. 9670 (IRB 2014-29) FICA and FUTA exceptions and exemptions; services performed by certain employees for family members; members of qualifying religious sect; disregarded entities; owner not entity responsible for backup withholding and information reporting.
T.D. 9669 (IRB 2014-28) Sec. 7602; authorization for the IRS to use Sec. 6103(n) contracted experts in summons interviews to propound questions and receive summoned books, papers and other records.
T.D. 9668 (IRB 2014-27) Circular 230; modifications of standards governing written advice; clarification of recent amendments; certain provisions updated.
T.D. 9667 (IRB 2014-26) Form 5472; REG 114942-14; Information Return of a 25% Foreign-Owned U.S. Corporation; late filed return.
T.D. 9666 (IRB 2014-26) Sec. 41; REG-133495-11; research and experimentation; alternative simplified credit election on an amended return.
T.D. 9665 (IRB 2014-22) Sec. 402; amounts in qualified retirement plan; payment of accident or health insurance premiums are taxable distributions; certain statutory exceptions; payment of premiums for disability insurance that replaces retirement plan contributions in the event of participant's disability.
T.D. 9664 (IRB 2014-22) Sec. 67; costs incurred by estates or nongrantor trusts; miscellaneous itemized deductions; exceeding 2% of adjusted gross income; 2-percent floor.
T.D. 9663 (IRB 2014-22) Sec. 36B; Affordable Insurance Exchanges; reporting of information relating to health insurance tax credit.
T.D. 9662 (IRB 2014-16) Employment tax obligations of third party payor; service agreement with employer to pay wages of employees; employment tax responsibilities; performance of acts required by employer.
T.D. 9661 (IRB 2014-13) Sec. 6056; applicable large employers; reporting to IRS about health care coverage offered to full-time employees; shared responsibility provisions of Sec. 4980H; statements regarding monthly coverage.
T.D. 9660 (IRB 2014-13) Sec. 6055; information reporting by persons that provide minimum essential coverage to individuals.
T.D. 9658 (IRB 2014-13) Sec. 1441; 1442; 1443; payors of payments of certain U.S. source income to foreign person subject to comprehensive documentation, information reporting; due diligence.
T.D. 9657 (IRB 2014-13) Sec. 1474; FACTA; U.S. withholding agent; payments to foreign financial institution; FFI; nonfinancial foreign entity; NFFE.
T.D. 9659 (IRB 2014-12) Sec. 83; property transferred in connection with the performance of services; definition of substantial risk of forfeiture; Reg. Sec. 1.83-3(c)(1); Rev. Rul. 2005-48 obsolete.
T.D. 9652 (IRB 2014-12) Sec. 263A; 471; capitalizing and allocating sales-based royalties; adjusting the cost of merchandise inventory for sales-based vendor allowances; simplified production method; simplified resale method.
T.D. 9656 (IRB 2014-11) 90-day waiting period; section 2708 of the Public Health Service Act; portability provisions of Affordable Care Act.
T.D. 9655 (IRB 2014-9) Sec. 4980H guidance; Affordable Care Act (ACA); applicable large employer; assessable payment; minimum essential health coverage; full-time employees; coverage that is not affordable.
T.D. 9654 (IRB 2014-6) Sec. 7874; Identification of certain stock of foreign corporation disregarded in calculating ownership; surrogate foreign corporation; Notice 2009-78 superseded.
T.D. 9653 (IRB 2014-6) Tax treatment of debt instrument with a bond premium carryforward in holder's final accrual period; Treasury bill acquired at a premium.
T.D. 9650 (IRB 2014-3) Guidance on determining ownership of a passive foreign investment company; PFIC; annual filing requirement for shareholders; constructive ownership.
T.D. 9649 (IRB 2014-2) Sec. 3504; Agents authorized to perform acts under Federal Unemployment Tax Act (FUTA) required of employers who are home care service recipients.

 

Proposed Regulations

REG-151416-06 (IRB 2014-47) Partner's measurement of interest in a partnership's unrealized receivables and inventory items; hot asset; distribution causing a reduction in that interest; recognition of ordinary income.
REG-136676-13 (IRB 2014-45) Form 1099-C; Cancellation of Debt; filing requirement; 36-month non-payment testing period.
REG-105739-11 (IRB 2014-41) Removal of Allocation Rule for distributions from designated Roth accounts to multiple destinations.
REG-107012-14 (IRB 2014-33) Permissible method of accounting for gains and losses on shares in certain money market funds.
REG-104579-13 (IRB 2014-33) Premium tax credit; victims of domestic abuse or spousal abandonment; claim of premium tax credit using Married Filing Separately status; allocation rules for reconciling advance credit payments.
REG-209459-78 (IRB 2014-31) Sec. 408; withdrawal of proposed amendment to Sec. 1.408-4(b)(4)(ii); Bobrow; one-rollover per year rule limitation; transition relief.
REG-110948-12 (IRB 2014-30) Application for exempt status under 501(c)(3); streamlined application for recognition.
REG-121542-14 (IRB 2014-28) Sec. 7602; authorization for the IRS to use Sec. 6103(n) contracted experts in summons interviews to propound questions and receive summoned books, papers and other records.
REG-150760-13 (IRB 2014-23) Sec. 856; definition of real estate investment trust real property.
REG-131239-13 (IRB 2014-22) Sec. 381; modification of definition of acquiring corporation; acquisition of assets.
REG-163195-05 (IRB 2014-15) Removal of regulations relating to information reporting and backup withholding for Qualified Payment Card Agent; QPCA.
REG-130967-13 (IRB 2014-13) Sec. 1471; 1472; 1473; 1474; FACTA; U.S. withholding agent; payments to foreign financial institution; FFI; nonfinancial foreign entity; NFFE.
REG-134361-12 (IRB 2014-13) Sec. 1441; 1442; 1443; payors of payments certain U.S. source income to foreign persons; information and tax withholding requirements.
REG-122706-12 (IRB 2014-11) 90-day waiting period under Affordable Care Act; maximum allowed lenght of any reasonable and bona fide employment-based orientation period.
REG-119305-11 (IRB 2014-8) Sec. 707; 752; disguised sales of property to or by a partnership; treatment of partnership liabilities.
REG-141036-13 (IRB 2014-7) Sec. 5000A; minimium essential coverage; shared responsibility payment.
REG-144468-05 (IRB 2014-6) Contribution of built-in loss property to a partnership; mandatory basis adjustment where substantial built-in loss or substantial basis reduction exists; basis allocation rules; substituted basis transactions; allocations resulting from revaluation of partnership property.
REG-154890-03 (IRB 2014-6) Notice of proposed rulemaking provides rules for determining a taxable beneficiary's basis in a term interest in a charitable remainder trust on sale or other disposition of interests in trust; CRT; undistributed net capital gains.
REG-121534-12 (IRB 2014-6) Sec. 7874; Identification of certain stock of foreign corporation disregarded in calculating ownership; surrogate foreign corporation.
REG-113350-13 (IRB 2014-3) Sec. 1291; withdrawn portion of regulations; definitions of terms pedigreed QEF; section 1291 fund; portion of REG-209054-87 withdrawn.
REG-140974-11 (IRB 2014-3) Guidance on determining the ownership of a passive foreign investment company; PFIC; annual filing requirement; constructive ownership.
REG-159420-04 (IRB 2014-2) Sec. 41; qualified research expenditures and gross receipts resulting from transactions between controlled groups of corporations or a group of trades or businesses under common control.
REG-136984-12 (IRB 2014-2) Sec. 752; recourse liabilities of partnerships; special rules for related persons.
REG-143172-13 (IRB 2014-2) Amendments to regulations regarding excepted benefits under the Code; exempt from health reform requirements; HIPAA; ACA.

 

Notices

Notice 2014-76 (IRB 2014-50) Sec. 5000A; hardship exemptions from individual shared responsibility payment that may be claimed without obtaining a hardship exemption certification; tax years beginning after December 31, 2013.
Notice 2014-74 (IRB 2014-50) Sec. 402(f); two amendments to safe harbor in Notice 2009-68; information to be provided to recipients of eligible rollover distributions; in-plan Roth rollovers.
Notice 2014-71 (IRB 2014-49) Eligibility for Minimum Essential Coverage Under Pregnancy Based Medicaid and CHIP Programs; minimum essential coverage; Sec. 36B.
Notice 2014-70 (IRB 2014-48) Qualified retirement plans; cost-of-living adjustments; COLAs; dollar limits on contributions and benefits.
Notice 2014-69 (IRB 2014-48) Sec. 36B; minimum value; Group health plans that fail to cover in-patient hospitalization services; plan to publish proposed regulations; employer-sponsored health plans.
Notice 2014-68 (IRB 2014-47) Treatment of leave-based donation programs; Ebola virus outbreak in Guinea, Liberia, and Sierra Leone; guidance for income and employment tax purposes.
Notice 2014-65 (IRB 2014-47) Ebola virus outbreak in Guinea, Liberia, and Sierra Leone; qualified disaster for Sec. 139.
Notice 2014-67 (IRB 2014-46) State or local government and Sec. 501(c)(3) organizations; tax-exempt bond financing; private business use of bond-financed facilities; Medicare Shared Savings Program; Rev. Proc. 97-13 as amended by Rev. Proc. 2001-39 amplified.
Notice 2014-66 (IRB 2014-46) Qualified defined benefit plans; lifetime income; investment options; target date funds; TDF; deferred annuities; nondiscrimination requirements.
Notice 2014-64 (IRB 2014-45) Sec. 43; enhanced oil recovery credit for taxable years beginning in 2014; inflation adjustment factor and phase-out amount.
Notice 2014-63 (IRB 2014-45) Sec. 613A; 2014 Marginal Production Rates; percentage depletion on marginal properties; 15 percent for calendar year 2014.
Notice 2014-59 (IRB 2014-44) Intention by IRS to amend certain provisions of temporary regulations under Secs. 1441, 1442, 6409; modified applicabilty dates; withholding agent.
Notice 2014-58 (IRB 2014-44) Codification of economic substance doctrine and the related penalty amendments; Notice 2010-62 amplified.
Notice 2014-60 (IRB 2014-43) Sec. 1033(e)(2); 4-year replacement period extended for livestock sold on account of drought; list of counties with various drought conditions during 12-month period ending August 31, 2014.
Notice 2014-53 (IRB 2014-43) Funding stabilization rules for single-employer pension plans; changes made by Highway and Transportation Funding Act; HATFA.
Notice 2014-57 (IRB 2014-42) Special per diem rates; high-low rates; 2014-2015; special transportation industry rate; incidental expenses only deduction.
Notice 2014-52 (IRB 2014-42) Inversions and related transactions; related regulations.
Notice 2014-56 (IRB 2014-41) Sec. 4375; 4376; applicable dollar amount for fee imposed; plan years ending on or after October 1, 2014 and before September 30, 2015.
Notice 2014-55 (IRB 2014-41) Sec. 125; cafeteria plans; permitted change rules for health coverage; revocation of election.
Notice 2014-54 (IRB 2014-41) Qualified pension plans; allocation of pretax and after-tax amounts among distributions made to multiple destinations.
Notice 2014-49 (IRB 2014-41) Sec. 4980H; determination whether employee is full-time; look-back measurement method.
Notice 2014-51 (IRB 2014-40) Sec. 1298; passive foreign investment companies; exemption from filing annual reports; filing requirements; PFIC stock that is marked to market under Chapter 1.
Notice 2014-46 (IRB 2014-36) Sec. 45; 48; renewable energy production credit; placed in service; start of production; safe harbor.
Notice 2014-45 (IRB 2014-34) Supplement to Notice 2014-44; Sec. 901(m); entity classification elections.
Notice 2014-44 (IRB 2014-32) Guidance concerning Sec. 901(m); particularly with regard to certain dispositions; covered asset acquisition.
Notice 2014-40 (IRB 2014-27) Sec. 45Q inflation adjustment; carbon dioxide sequestration.
Notice 2014-39 (IRB 2014-26) Sec. 1603; 45; 48; payment resulting from sequestration; Sec. 1603 award; basis of the specified energy property.
Notice 2014-38 (IRB 2014-24) Indian tribes; tribal trust cases; Notice 2014-22 superceded.
Notice 2014-37 (IRB 2014-24) Windsor; amendments to pension plans; effective date; Q&As revised.
Notice 2014-35 (IRB 2014-23) Pension plans; 5500; penalty relief for failure to timely comply with reporting requirements; Secs. 6652(e); 6692; 6047(e); 6058; 6059.
Notice 2014-33 (IRB 2014-21) FACTA; 2014 and 2015 regarded as transition year; IRS enforcement of FACTA; withholding; intended amendments to regulations under Sec. 1441, 1442, 1471, and 1472.
Notice 2014-32 (IRB 2014-20) Sec. 367; treatment of property used to acquire parent stock or securities in certain triangular reorganizations involving foreign corporations.
Notice 2014-29 (IRB 2014-18) Adjusted limitations on housing expenses for tax year 2014 of Sec. 911; Notices 2006-87, 2007-25, 2007-77, 2008-107, 2010-27, 2011-8, 2012-19, 2013-31 superseded.
Notice 2014-25 (IRB 2014-17) Sec. 45K; nonconventional source fuel credit inflation adjustment factor for 2013.
Notice 2014-19 (IRB 2014-17) Guidance on the retroactive application of U.S. v. Windsor; DOMA; retirement plans; same sex marriage; Rev. Rul. 2013-17 amplified.
Notice 2014-23 (IRB 2014-16) Victims of domestic violence; joint filing requirement of Sec. 36B; married filing separate return; premium tax credit.
Notice 2014-21 (IRB 2014-16) Virtual currency; Bitcoin; how general tax principles apply.
Notice 2014-20 (IRB 2014-16) Postponement of deadline to Oct. 15, 2014 deadline to make election under Sec. 165(i); deduction in preceding taxable year; major flooding in Colorado in September 2013.
Notice 2014-17 (IRB 2014-13) Per capita distributions to members of Indian tribes made from funds held in trust by Secretary of Interior excludable from gross income.
Notice 2014-11 (IRB 2014-13) Sec. 61; maximum vehicle values for use with special valuation rule; Reg. Sec. 1.61-21(d); cents-per-mile valuation.
Notice 2014-15 (IRB 2014-12) Sec. 42; Physical Inspection Pilot Program; extension of time period in Notice 2012-18.
Notice 2014-10 (IRB 2014-9) Sec. 5000A; shared responsibility payment; months in 2014; limited-benefit health coverage that is not minimum essential coverage.
Notice 2014-9 (IRB 2014-5) Sec. 1400U; Recovery Zone Facility Bonds; current refunding of outstanding prior issues of bonds.
Notice 2014-4 (IRB 2014-4) Sec. 131; payments received by individuals under state Medicaid Home and Community-Based Services Waiver; difficulty of care payments; care provider related to individual receiving care.
Notice 2014-3 (IRB 2014-3) Requirements of Sec. 501(r); correction and disclosure procedures.
Notice 2014-6 (IRB 2014-2) Sec. 45R; guidance to certain small employers that cannot offer a qualifying health plan through a Small Business Health Options Program Exchange; QHP; SHOP; principal business address in county where plan not available.
Notice 2014-5 (IRB 2014-2) Closed defined benefit plans; temporary nondiscrimination relief.
Notice 2014-4 (IRB 2014-2) Type III supporting organizations; tests.
Notice 2014-1 (IRB 2014-2) Sec. 125; cafeteria plans; flexible spending arrangements; FSAs; Sec. 223; health savings accounts; HSAs; same-sex spouses; Rev. Rul. 2013-17 amplified.

 

Announcements

Announcement 2014-38 (IRB 2014-51) FACTA intergovernmental agreement; IGA; jurisdictions treated as if agreement in effect; Announcement 2014-17.
Announcement 2014-37 (IRB 2014-51) Correction to Notice 2014-70; typographical error.
Announcement 2014-34 (IRB 2014-51) Transfer of certain technical responsibility for issues involving exempt organizations, qualified retirement plans, IRAs to Office of Chief Counsel along with realignment of Tax Exempt and Government Entities Division.
Announcement 2014-33 (IRB 2014-49) IRS to discontinue publication of index to the IRB beginning January 1, 2015; Internal Revenue Bulletins.
Announcement 2014-32 (IRB 2014-48) Individual Retirement Accounts; IRAs; one-rollover-per-year limitation; Sec. 408(d)(3)(B).
Announcement 2014-28 (IRB 2014-34) Sec. 911; eligibility requirements; adverse conditions in foreign country; South Sudan; Rev. Proc. 2014-25 updated.
Announcement 2014-25 (IRB 2014-25) Corrections to final regulations; T.D. 9662; Sec. 3504; payor designated to perform the acts required of an employer and is liable for employment taxes.
Announcement 2014-23 (IRB 2014-22) Corrections to proposed regulations; REG-140974-11; determining ownership of a passive foreign investment company; PFIC; annual filing requirements.
Announcement 2014-22 (IRB 2014-22) Corrections to final and temporary regulations; T.D. 9650; determining ownership of a passive foreign investment company; PFIC; annual filing requirements.
Announcement 2014-21 (IRB 2014-20) Corrections to final and temporary regulations; T.D. 9658.
Announcement 2014-19 (IRB 2014-17) Corrections to final regulations; T.D. 9644; Net Investment Income Tax; net investment income; NIIT.
Announcement 2014-18 (IRB 2014-17) Corrections to final regulations; T.D. 9644; Net Investment Income Tax; net investment income; NIIT.
Announcement 2014-15 (IRB 2014-16) Individual Retirement Accounts; IRAs; one-rollover-per-year limitation; Sec. 408(d)(3)(B); transition relief for IRA owners.
Announcement 2014-13 (IRB 2014-10) Office of Professional Responsibility; OPR; disciplinary sanctions.
Announcement 2014-4 (IRB 2014-7) Preapproved defined benefit plans; on-cycle applications for opinion and advisory letters; extension to February 2, 2015.
Announcement 2014-1 (IRB 2014-2) Guidance for financial institutions creating accounts and entering registration information on IRS FATCA registration website.

 

       Links to Individual Bulletins

Internal Revenue Bulletin 2014-1        Internal Revenue Bulletin 2014-27
Internal Revenue Bulletin 2014-2        Internal Revenue Bulletin 2014-28
Internal Revenue Bulletin 2014-3        Internal Revenue Bulletin 2014-29
Internal Revenue Bulletin 2014-4        Internal Revenue Bulletin 2014-30
Internal Revenue Bulletin 2014-5        Internal Revenue Bulletin 2014-31
Internal Revenue Bulletin 2014-6        Internal Revenue Bulletin 2014-32
Internal Revenue Bulletin 2014-7        Internal Revenue Bulletin 2014-33
Internal Revenue Bulletin 2014-8        Internal Revenue Bulletin 2014-34
Internal Revenue Bulletin 2014-9        Internal Revenue Bulletin 2014-35
Internal Revenue Bulletin 2014-10      Internal Revenue Bulletin 2014-36
Internal Revenue Bulletin 2014-11      Internal Revenue Bulletin 2014-37
Internal Revenue Bulletin 2014-12      Internal Revenue Bulletin 2014-38
Internal Revenue Bulletin 2014-13      Internal Revenue Bulletin 2014-39
Internal Revenue Bulletin 2014-14      Internal Revenue Bulletin 2014-40
Internal Revenue Bulletin 2014-15      Internal Revenue Bulletin 2014-41
Internal Revenue Bulletin 2014-16      Internal Revenue Bulletin 2014-42
Internal Revenue Bulletin 2014-17      Internal Revenue Bulletin 2014-43
Internal Revenue Bulletin 2014-18      Internal Revenue Bulletin 2014-44
Internal Revenue Bulletin 2014-19      Internal Revenue Bulletin 2014-45
Internal Revenue Bulletin 2014-20      Internal Revenue Bulletin 2014-46
Internal Revenue Bulletin 2014-21      Internal Revenue Bulletin 2014-47
Internal Revenue Bulletin 2014-22      Internal Revenue Bulletin 2014-48
Internal Revenue Bulletin 2014-23      Internal Revenue Bulletin 2014-49
Internal Revenue Bulletin 2014-24      Internal Revenue Bulletin 2014-50
Internal Revenue Bulletin 2014-25      Internal Revenue Bulletin 2014-51
Internal Revenue Bulletin 2014-26

 


Copyright 2014 by A/N Group, Inc. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is distributed with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional should be sought. The information is not necessarily a complete summary of all materials on the subject. Copyright is not claimed on material from U.S. Government sources--ISSN 1089-1536


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