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Note. The list below contains a synopses of selected revenue rulings, revenue procedures, notices, announcements and regulations beginning with those issued January 1, 2012. The list is limited to those items we believe to be of interest to small to mid-sized businesses, 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--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

Notes.

• The list below includes pronouncements for the first 5 bulletins of 2012.
  
• Entries for each section are in the order they appear in the bulletins.
  
• Go to our Abbreviations page for details on any abbreviations.
  
• Quick link to Individual Bulletins for 2012
  
• If you know the number, you can access a PDF file of any recent Revenue Ruling, Revenue Procedure, or Notice at the IRS Web site directly. Simply paste the appropriate link below into your browser and enter the desired ruling, procedure, or notice number instead of the xx.

For Revenue Rulings-- www.irs.gov/pub/irs-drop/rr-12-xx.pdf
For Revenue Procedures-- www.irs.gov/pub/irs-drop/rp-12-xx.pdf
For Notices-- www.irs.gov/pub/irs-drop/n-12-xx.pdf

Rev. Rul. 2012-5 (IRB 2012-05) 2012 covered compensation tables; permitted disparity; Sec. 401; defined benefit plans.

T.D. 9562 (IRB 2012-05) Sec. 881; multiple-party financing arrangements effected through disregarded entities; conduit financing arrangement.
T.D. 9561 (IRB 2012-05) Sec. 1275; REG-130777-11; use of coupon bond method to account for Treasury Inflation-Protected Securities; more than de minimis amount of premium; TIPS.

Notice 2012-11 (IRB 2012-05) Sec. 6045B; transitional relief; information reporting; issuers of stock; organizational actions affecting basis.

Announcement 2012-5 (IRB 2012-05) Corrections to final regulations T.D. 9517; enrollment of actuaries.

For the full text of these rulings, go to Internal Revenue Bulletin 2012-05.

Revenue Rulings

Rev. Rul. 2012-5 (IRB 2012-05) 2012 covered compensation tables; permitted disparity; Sec. 401; defined benefit plans.
Rev. Rul. 2012-1 (IRB 2012-02) Recurring item exception to the all events test; economic performance requirement; Sec. 461(h)(3); not material and better matching requirement; insurance and warranty contracts; Rev. Proc. 2011-14 modified and amplified.

Revenue Procedures

Rev. Proc. 2012-13 (IRB 2012-3) Maximum vehicle values for special valuation rules; Reg. Sec. 1.61-21(d), (e); cents-per-mile valuation rule; $15,900 for cars, $16,700 for trucks.
Procedures and standards for accredited continuing education providers under Circular 230.
Rev. Proc. 2012-10 (IRB 2012-2) Issuance of rulings and determination letters on private foundations; Sec. 509(a); operating foundation status; Sec. 4942; exempt operating foundation status; Sec. 4940; determination letters on foundation status of nonexempt charitable trusts; Sec. 4947; Rev. Proc. 2011-10 superseded.
Rev. Proc. 2012-9 (IRB 2012-2) Determination letters and rulings on exempt status of organizations; Sec. 501 and 502; revocation and modification; exhaustion of administrative remedies; Sec. 7428; Rev. Proc. 2011-9 superseded.
Rev. Proc. 2012-8 (IRB 2012-1) 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. 2011-8 superseded.
Rev. Proc. 2012-7 (IRB 2012-1) Areas in which rulings will not be issued; Associated Chief Counsel (International); letter rulings; determination letters; Rev. Proc. 2011-7 superseded.
Rev. Proc. 2012-6 (IRB 2012-1) Employee plans determination letters; qualified status of plans under Sections 401(a), 403(a), 409, and 4975; Rev. Proc. 2011-6 superseded.
Rev. Proc. 2012-5 (IRB 2012-1) Technical advice; furnishing technical advice to area managers and appeals offices; Tax Exempt and Government Entities; employee plans; actuarial matters; Rev. Proc. 2011-5 superseded.
Rev. Proc. 2012-4 (IRB 2012-1) 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. 2011-4 superseded.
Rev. Proc. 2012-3 (IRB 2012-1) 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. 2011-3 superseded.
Rev. Proc. 2012-2 (IRB 2012-1) 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. 2011-2 superseded.
Rev. Proc. 2012-1 (IRB 2012-1) Letter rulings; information letters; issued by the Associate Chief Counsel; corporate; financial institutions and products; income tax and accounting; passthroughs and special industries; procedure and administration; tax exempt and government; passthrough; Small Business/Self-Employed Division; Wage and Investment Division; Rev. Proc. 2011-1 superseded.

Regulations

T.D. 9562 (IRB 2012-05) Sec. 881; multiple-party financing arrangements effected through disregarded entities; conduit financing arrangement.
T.D. 9561 (IRB 2012-05) Sec. 1275; REG-130777-11; use of coupon bond method to account for Treasury Inflation-Protected Securities; more than de minimis amount of premium; TIPS.
T.D. 9560 (IRB 2012-04) Sec. 45D; qualified low-income community business; targeted populations; new markets tax credit.
T.D. 9559 (IRB 2012-02) Amendments to user fee regulations; new user fee for individuals to take registered tax return preparer competency examination.

Proposed Regulations

REG-102988-11 (IRB 2012-04) Sec. 6045; information reporting requirements for a broker; transfer reporting requirements under Sec. 6045A; issuer statements under Sec. 6045B for debt instruments and options.
REG-149625-10 (IRB 2012-02) Sec. 382; exceptions to the segregation rules; creation of one or more additional public groups treated as 5-percent shareholders; sales of loss corporation stock to small shareholders; redemptions of small shareholders.

Notices

Notice 2012-11 (IRB 2012-05) Sec. 6045B; transitional relief; information reporting; issuers of stock; organizational actions affecting basis.
Notice 2012-9 (IRB 2012-04) Informational reporting to employees of cost of employer-sponsored group health coverage; restatement and amendment of Notice 2011-28; requirement under Sec. 6051; Notice 2011-28 superseded.
Notice 2012-8 (IRB 2012-04) Equitable relief from joint and several liability; Sec. 6051; proposed revenue procedure will update Rev. Proc. 2003-61; Rev. Proc. 2003-61 superseded.
Notice 2012-7 (IRB 2012-04) Sec. 42; low-income housing credit; requirements suspended; Iowa; emergency housing relief; flooding during period May 25,2011 to August 1, 2011.
Notice 2012-4 (IRB 2012-03) Tax-exempt organizations; eFile system not available from January 1, 2012 through February 29, 2012; options available.
Notice 2012-3 (IRB 2012-03) Tax-exempt bonds; refunding of outstanding prior issues; disaster relief programs; qualified Gulf Opportunity Zone; qualified Midwestern disaster area; qualified Hurrican Ike disaster area.
Notice 2012-1 (IRB 2012-02) Optional standard mileage rates for 2012; 55.5 cents per mile for business use; 14 cents for charitable use; 23 cents for medical or moving; reductions in basis for depreciation purposes; FAVR maximum standard automobile cost; Notice 2010-88 as modified by Announcement 2011-40 superseded.

Announcements

Announcement 2012-5 (IRB 2012-05) Corrections to final regulations T.D. 9517; enrollment of actuaries.
Announcement 2012-4 (IRB 2012-04) Corrections to final regulations T.D. 9517; enrollment of actuaries.

       Links to Individual Bulletins

Internal Revenue Bulletin 2012-1
Internal Revenue Bulletin 2012-2
Internal Revenue Bulletin 2012-3
Internal Revenue Bulletin 2012-4
Internal Revenue Bulletin 2012-5

--Last Update 01/27/12