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The list below contains a synopses of selected revenue rulings, revenue procedures, notices, announcements and regulations beginning with those issued January 1, 2010. The list is limited to those items we believe to be of interest to small to mid-sized businesses, their advisors, CPAs, etc. Rulings, etc. dealing with banks, insurance companies, foreign operations, nonprofits, exotic transactions, etc. are generally excluded. For a similar listing for prior years, go to:
IRS Pronouncements--2009We'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
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.
For Revenue Rulings-- www.irs.gov/pub/irs-drop/rr-10-xx.pdfThe xx must be at least two digits. Thus, Revenue Ruling 5 for 2010 would be: www.irs.gov/pub/irs-drop/rr-10-05.pdf For prior years, change the 10 to the appropriate year (no earlier than 99).
For Revenue Procedures-- www.irs.gov/pub/irs-drop/rp-10-xx.pdf
For Notices-- www.irs.gov/pub/irs-drop/n-10-xx.pdf
T.D. 9480 (IRB 2010-10) Sec. 6654; REG-117501-09; reduced estimated income tax payments for qualified individuals with small business income for taxable years beginning in 2009.
REG-148861-09 (IRB 2010-11) Reviewing ERISA rules; enhance retirement security of participants in employer-sponsored plans; lifetime income or other arrangements; solicitation of views from participants; sponsors; general public.
Notice 2010-23 (IRB 2010-11) FBAR filing relief; persons with signature authority and who own commingled funds; Notice 2009-62 modified and supplemented.
Announcement 2010-16 (IRB 2010-11) Temporary suspension for persons who are not U.S. citizens or residents or domestic entities; requirement to file Form TD F 90-22.1; FBAR; Report of Foreign Bank and Financial Accounts for 2009 and earlier calendar years; Announcement 2009-51 supplemented and superseded.
For the full text of these rulings, go to Internal Revenue Bulletin 2009-11.
Revenue Rulings
Rev. Rul. 2010-4 (IRB 2010-5) Sec. 7216; 6713; disclosure or use of information by preparers of returns; criminal and civil penalties; disclosure in connection with professional liability insurance.
Rev. Rul. 2010-4 (IRB 2010-4) Sec. 7216; 6713; disclosure or use of information by preparers of returns; return preparer liable for criminal or civil penalties; communicating with taxpayers.
Rev. Rul. 2010-3 (IRB 2010-3) Sec. 1256 contracts mark to market; London International Financial Futures and Options Exchange; LIFFE; derivatives market; qualified board of exchange.
Rev. Rul. 2010-2 (IRB 2010-3) Sec. 1274A; inflation adjusted amount for 2010; principal amount of a debt instrument; interest; original issue discount; Rev. Rul. 2008-52 supplemented and superseded.
Revenue Procedures
Rev. Proc. 2010-18 (IRB 2010-9) Automobile owners and lessees; trucks; vans; autos; depreciation deduction limitation; first placed in service in 2010; lease inclusion amount.
Rev. Proc. 2010-17 (IRB 2010-8) Eligibility requirements gfor Sec. 911(d)(1); adverse conditions in a foreign country; current list of countries for 2009 and the dates those countries are subject to the waiver.
Rev. Proc. 2010-15 (IRB 2010-7) Disclosure on income tax return with respect to item or position; adequate for understatement penalty under Sec. 6662(d); substantial understatement; tax return preparer penalty rules Sec. 6694(a); unreasonable position; Rev. Proc. 2008-14 updated.
Rev. Proc. 2010-13 (IRB 2010-4) Sec. 469; report to IRS of groupings and regroupings of activities; addition of specific activities; Sec. 1.469-4.
Rev. Proc. 2010-12 (IRB 2010-3) Sec. 305 treatment; stock distribution of publicly traded regulated investment company; real estate investment trust; shareholders election to receive money or stock; Rev. Proc. 2009-15 amplified and superseded.
Rev. Proc. 2010-10 (IRB 2010-3) Maximum vehicle values; special valuation rule; cents-per-mile; Reg. Sec. 1.61-21(d).
Rev. Proc. 2010-11 (IRB 2010-2) Blind trust; requirements of sec. 102(f)(3) of Title 5 U.S. Code; execute and file income tax return on behalf of individual; Rev. Proc. 80-59 modified and superseded.
Rev. Proc. 2010-9 (IRB 2010-2) Determination letters and rulings; procedures for issuing; exempt status of organizations; Sec. 501; 521; revocation of letters and rulings; administrative remedies; Rev. Proc. 2009-9 superseded.
Rev. Proc. 2010-8 (IRB 2010-1) User fees for employee plans and exempt organizations; user fee program; letter rulings; determination letters; Tax Exempt and Government Entities; Rev. Proc. 2009-8 superseded.
Rev. Proc. 2010-7 (IRB 2010-1) Areas in which rulings will not be issued; Associate Chief Counsel; International; procedures revised; Rev. Proc. 2009-7 superseded.
Rev. Proc. 2010-6 (IRB 2010-1) Employee plans determination letters; revised procedures; determination letters; plans under Sec. 401(a); 403(a); 409; 4975; Rev. Proc. 2009-6 superseded.
Rev. Proc. 2010-5 (IRB 2010-1) Technical advice; revised procedures for furnishing technical advice to area managers and appeals offices; Tax Exempt and Government Entities; employee plans; Rev. Proc. 2009-5 superseded.
Rev. Proc. 2010-4 (IRB 2010-1) Rulings and information letters; issuance procedures; revised procedures; ruling letters and information letters on matters under jurisdiction of the Office of the Division Commissioner; Tax Exempt and Government Entities; Rev. Proc. 2009-4 superseded.
Rev. Proc. 2010-3 (IRB 2010-1) Areas in which rulings will not be issued; domestic; Rev. Procs. 2009-3 and 2009-35 superseded; Rev. Proc. 87-35 obsoleted.
Rev. Proc. 2010-2 (IRB 2010-1) Technical advice; procedure explains when and how Associate Chief Counsel; corporate; financial institutions and products; income tax and accounting; passthroughs and special industries; procedure and administration; tax exempt and government; issue technical advice memoranda; TAM; rights of a taxpayer when a field office requests a TAM regarding a tax matter; Rev. Proc. 2009-2 superseded.
Rev. Proc. 2010-1 (IRB 2010-1) Letter rulings; information letters; determination letters; revised procedures for rulings 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; Rev. Proc. 2009-1 superseded.
Regulations
T.D. 9480 (IRB 2010-10) Sec. 6654; REG-117501-09; reduced estimated income tax payments for qualified individuals with small business income for taxable years beginning in 2009.
T.D. 9477 (IRB 2010-6) Sec. 304; REG-132232-08; tax treatment; shareholders transferring stock or securities to related corporations; control of two or more corporations; sale of stock to related corporations; tax treatment of shareholders who receive amounts for transferred stock or securities; tax avoidance.
T.D. 9476 (IRB 2010-5) Sec. 1561; apportionment of tax benefit items; information to submit with return; consolidated group; controlled group of corporations.
T.D. 9478 (IRB 2010-4) Sec. 7216; REG-131028-09; disclosure and use of tax return information by tax return preparers; Notice 2009-13 obsoleted.
T.D. 9475 (IRB 2010-4) Sec. 368; qualification of certain transaction as reorganizations; Sec. 368(a)(1)(D); no stock or securities of the acquiring corporation is issued and distributed.
T.D. 9474 (IRB 2010-4) Rules relating to reduction in taxable income for housing displaced individuals; Katrina Emergency Tax Relief Act of 2005; Heartland Disaster Tax Relief Act of 2008.
Proposed Regulations
REG-148861-09 (IRB 2010-11) Reviewing ERISA rules; enhance retirement security of participants in employer-sponsored plans; lifetime income or other arrangements; solicitation of views from participants; sponsors; general public.
REG-137036-08 (IRB 2010-6) Sec. 3504; employment tax liability of agents authorized by IRS to perform acts required of employers; FUTA taxes on wages paid for home care services; participant in home care services.
REG-101896-09 (IRB 2010-5) Sec. 6045; 1012; 6045A; 6045B; 6721; 6722; rules for stockbrokers; reporting adjusted basis of stock being sold; whether any gain or loss with respect to sale is long-term or short-term; averaging basis of shares; expand ability of investors to compute basis by averaging; reporting requirements on issuers of securities; Rev. Rul. 67-436 obsoleted.
Notices
Notice 2010-23 (IRB 2010-11) FBAR filing relief; persons with signature authority and who own commingled funds; Notice 2009-62 modified and supplemented.
Notice 2010-22 (IRB 2010-10) Qualified Zone Academy Bonds; QZAB; maximum face amount for 2010.
Notice 2010-19 (IRB 2010-7) Gifts in trust during 2010; transfer of property to non-wholly owned grantor trust; transfer by gift of entire interest in property; transfer to wholly owned grantor trust; Sec. 2511.
Notice 2010-16 (IRB 2010-6) Haiti earthquake in 2010; qualified disaster for purposes of Sec. 139.
Notice 2010-15 (IRB 2010-6) Miscellaneous HEART Act changes; questions and answers; Heroes Earnings Assistance and Relief Act of 2008.
Notice 2010-13 (IRB 2010-4) Procedures for corporations, electing small business corporations, and organizations required to file returns under Sec. 6033; request for waiver of requirement to file electronically; Notice 2005-88 superseded.
Notice 2010-12 (IRB 2010-4) Extension of application of Notice 2008-91; elective exclusion; CFC; controlled foreign corporation; definition of obligation; Rev. Proc. 2008-26; readily marketable securities.
Notice 2010-11 (IRB 2010-4) Extension of suspension; Sec. 163(e)(5); applicable high yield discount obligations.
Notice 2010-10 (IRB 2010-3) Tax-exempt bond provisions; Midwestern and Hurricane Ike disaster areas; Heartland Disaster Tax Relief Act.
Notice 2010-9 (IRB 2010-3) Filers of Forms 1099-B; 1099-S; certain information on Form 1099-MISC; required filing date extended to February 16, 2010; Notice 2009-11 amplified.
Notice 2010-8 (IRB 2010-3) Taxpayer authorizations of disclosure of returns; Sec. 6103.
Notice 2010-6 (IRB 2010-3) Nonqualified deferred compensation plans; Sec. 409A; plan document requirements; this notice permits correction of certain failures to comply with plan documents; Notices 2008-113 and 2008-115 modified.
Notice 2010-4 (IRB 2010-2) Guidance and limited penalty relief to middlemen and trustees; reporting for widely held mortgage trusts; WHMTs; preparation of Forms 1099; TIH; trust interest holder.
Notice 2010-1 (IRB 2010-2) Code Sec. 338(g) or 338(h)(10) election; new target and old target treated as same corporation for purposes of Sec. 807(e)(4).
Announcements
Announcement 2010-16 (IRB 2010-11) Temporary suspension for persons who are not U.S. citizens or residents or domestic entities; requirement to file Form TD F 90-22.1; FBAR; Report of Foreign Bank and Financial Accounts for 2009 and earlier calendar years; Announcement 2009-51 supplemented and superseded.
Announcement 2010-9 (IRB 2010-7) Explanation of potential content of schedule requiring certain business taxpayers to report uncertain tax positions on their tax returns.
Announcement 2010-8 (IRB 2010-7) Correction to final regulation; T.D. 9443; postponement of certain tax-related deadlines either due to service in a combat zone or due to a federally declared disaster.
Announcement 2010-7 (IRB 2010-6) Correction to temporary regulations; T.D. 9458; modification to consolidated return regulation; election to treat a liquidation of a target; crosschain reorganization.
Announcement 2010-5 (IRB 2010-6) Correction to Rev. Proc. 2010-1; incorrect internal cross-reference.
Announcement 2010-3 (IRB 2010-4) Automatic approval of changes in funding method for takeover plans and changes in pension valuation software.
Announcement 2010-2 (IRB 2010-2) Competent Authority Agreement; U.S. and Germany; taxation of consular employees; income tax treaty and protocol.
Internal Revenue Bulletin 2010-1
Internal Revenue Bulletin 2010-2
Internal Revenue Bulletin 2010-3
Internal Revenue Bulletin 2010-4
Internal Revenue Bulletin 2010-5
Internal Revenue Bulletin 2010-6
Internal Revenue Bulletin 2010-7
Internal Revenue Bulletin 2010-8
Internal Revenue Bulletin 2010-9
Internal Revenue Bulletin 2010-10
Internal Revenue Bulletin 2010-11
Copyright 2010 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.--ISSN 1089-1536
--Last Update 03/13/10