Small Business Taxes & Management
IRS Pronouncements--2015


Small Business Taxes & ManagementTM--Copyright 2015, A/N Group, Inc.

Note. The list below contains a synopses of revenue rulings, revenue procedures, notices, announcements and regulations beginning with those issued January 1, 2015. Because the IRS is no longer indexing the contents of the bulletins as in the past, we have created two indicies--this one is a complete list of all pronouncements. For an abbreviated list that is limited to those items we believe to be of interest to small to mid-sized business owners, their advisors, CPAs, enrolled agents, etc, go to IRS Pronouncements--2015--Short List. For a abbreviated, similar listing for prior years, go to:

IRS Pronouncements--2014
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-15-xx.pdf
For Revenue Procedures-- www.irs.gov/pub/irs-drop/rp-15-xx.pdf
For Notices-- www.irs.gov/pub/irs-drop/n-15-xx.pdf

The xx must be at least two digits. Thus, Revenue Ruling 5 for 2015 would be: www.irs.gov/pub/irs-drop/RR-15-05.pdf   For prior years, change the 15 to the appropriate year (available years vary).

 

New Additions - Bulletin 9

Rev. Proc. 2015-20 (IRB 2015-9) Methods of accounting; tangible property regulations; Form 3115; Sec. 481 adjustment; small business taxpayers.

Notice 2015-19 (IRB 2015-9) Corporate bond monthly yield curve; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2015-15 (IRB 2015-9) Claim for refund under Sec. 6402; overpaid FICA taxes; employee consent; proposed revenue procedure.

Announcement 2014-8 (IRB 2015-9) U.S. v. Quality Stores, Inc. decision; claims for refund of employment taxes; claim for refund of FICA, RRTA, FUTA paid with respect to severance; Rev. Rul. 90-72.

For the full text of these rulings, go to Internal Revenue Bulletin 2015-09

 

Cumulative Listings - 2015

Revenue Rulings

Rev. Rul. 2015-3 (IRB 2015-6) Applicable federal rates; adjusted federal long-term rate; February 2015.
Rev. Rul. 2015-1 (IRB 2015-4) Applicable federal rates; adjusted federal long-term rate; January 2015.
Rev. Rul. 2015-2 (IRB 2015-3) Insurance companies; interest rate tables; Sec. 807; determination of reserves; contracts issued in 2014 and 2015; Rev. Rul. 92-19 is supplemented in part.

 

Revenue Procedures

Rev. Proc. 2015-20 (IRB 2015-9) Methods of accounting; tangible property regulations; Form 3115; Sec. 481 adjustment; small business taxpayers.
Rev. Proc. 2015-19 (IRB 2015-8) Vehicle depreciation limits for 2015; passenger autos; trucks and vans; lease inclusion amount vehicles first leased in 2015; modifications to 2014 depreciation limits and lease inclusion amount.
Rev. Proc. 2015-18 (IRB 2015-8) Publication 1167, General Rules and Specifications for Substitute Forms and Schedules; guidelines and general requirements.
Rev. Proc. 2015-17 (IRB 2015-7) Procedures for issuing determination letters and rulings on exempt status of qualified nonprofit health insurance issuers; QNHIIs; Sec. 501(c)(29); Rev. Proc. 2012-11 superseded.
Rev. Proc. 2015-16 (IRB 2015-7) Disclosure of item on income tax return; disclosure of position; adequate for reducing the understatement of income tax under Sec. 6662(d); accuracy-related penalty; tax return preparer penalty; Sec. 5594(a); Rev. Proc. 2014-15 updated.
Rev. Proc. 2015-15 (IRB 2015-5) 2015 monthly national average premium for qualified health plans; bronze level of coverage; maximum individual shared responsibility payment under Sec. 5000A.
Rev. Proc. 2015-14 (IRB 2015-5) List of Automatic Changes to which automatic change procedures of Rev. Proc. 2015-13 apply.
Rev. Proc. 2015-13 (IRB 2015-5) Sec. 446; updates and revises general procedures to obtain consent for change in accounting methods; procedures for nonautomatic consent of Commissioner; procedures for automatic consent to change to a method described in Rev. Proc. 2015-14 (List of Automatic Changes).
Rev. Proc. 2015-12 (IRB 2015-2) Sec. 162, 263A; guidance on expenditures to maintain, replace or improve cable system network assets deductibility; capitalization; guidance on computing depreciation.
Rev. Proc. 2015-10 (IRB 2015-2) Sec. 509(a); issuance of determination letters and rulings on private foundations; Sec. 4942 operating foundation status; exempt operating foundation status; nonexempt charitable trusts; Rev. Proc. 2014-10 superseded.
Rev. Proc. 2015-09 (IRB 2015-2) Sec. 501; 521; issuance of determination letters on exempt status; revocation and modification of determination letters; Sec. 7428; Rev. Proc. 2014-9 superseded.
Rev. Proc. 2015-08 (IRB 2015-1) Guidance for user fee program for requests for letter rulings, determination letters, etc.; Tax Exempt and Government Entities; Rev. Proc. 2014-8 superseded.
Rev. Proc. 2015-07 (IRB 2015-1) Areas where Associate Chief Counsel International will not issue letter rulings or determination letters; Rev. Proc. 2014-7 superseded.
Rev. Proc. 2015-06 (IRB 2015-1) Determination letters for qualified status of employee plans under Sections 401(a), 403(a), 409, and 4975; Rev. Proc. 2014-6 superseded.
Rev. Proc. 2015-05 (IRB 2015-1) Procedures for determination letters on exempt status Sec. 501(c)(3); Form 1023-EZ.
Rev. Proc. 2015-04 (IRB 2015-1) Rulings and information letters; issuance procedures; revised; Rev. Proc.. 2014-4 superseded.
Rev. Proc. 2015-03 (IRB 2015-1) Revised list of areas where IRS will not issue letter rulings or determination letters; Corporate; Financial Institutions and Products; Income Tax and Accounting; International; Passthroughs and Special Industries; Procedure and Administration; Tax Exempt and Government Entities; Rev. Proc. 2014-3 superseded.
Rev. Proc. 2015-02 (IRB 2015-1) Technical advice memoranda; TAMS; taxpayer rights when field office requests TAMS; Corporate; Financial Institutions and Products; Income Tax and Accounting; International; Passthroughs and Special Industries; Procedure and Administration; Tax Exempt and Government Entities; Rev. Proc. 2014-2 superseded.
Rev. Proc. 2015-01 (IRB 2015-1) Procedures for letter rulings and information letters; Corporate; Financial Institutions and Products; Income Tax and Accounting; International; Passthroughs and Special Industries; Procedure and Administration; Tax Exempt and Government Entities; Rev. Proc. 2014-1 superseded.

 

Regulations

T.D. 9710 (IRB 2015-8) Sec. 909; foreign income taxes separated from related income.
T.D. 9709 (IRB 2015-7) Procedures for certain entities to apply for exemption from Federal income tax; qualified nonprofit health insurance issuers.
T.D. 9708 (IRB 2015-5) Sec. 501; requirements for charitable hospital organizations; PPACA.
T.D. 9707 (IRB 2015-2) Form 5472 Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business; filing of late return; form due by due date of return, including extensions.

 

Proposed Regulations

REG-153656-03 (IRB 2015-5) Sec. 41; research credit; internal use software; qualified research.
REG-145878-14 (IRB 2015-2) Summary of benefits and coverage; SBC; uniform glossary for group heath plans and health insurance coverage in group and individual markets.
REG-132751-14 (IRB 2015-2) Public Health Service Act; wraparound coverage; amendment of regulations regarding excepted benefits.
REG-109187-11 (IRB 2015-2) Transferor of installment obligation; gain recognition under Sec. 453B on certain dispositions.

 

Notices

Notice 2015-19 (IRB 2015-9) Corporate bond monthly yield curve; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2015-15 (IRB 2015-9) Claim for refund under Sec. 6402; overpaid FICA taxes; employee consent; proposed revenue procedure.
Notice 2015-11 (IRB 2015-8) Qualified Zone Academy Bonds; QZAB; maximum face amount that can be issued.
Notice 2015-9 (IRB 2015-6) Reconciliation of advance payments of premium tax credit and credit allowed on return; limited penalty relief for taxpayers with balance due on 2014 return.
Notice 2015-8 (IRB 2015-6) Sec. 45R for certain small employers that cannot afford qualified health plan; QHP; Small Business Health Options Program Exchange; SHOP; business address in Iowa county where SHOP not available.
Notice 2015-7 (IRB 2015-6) Anticipate issuance of proposed regulations; governmental plan; coverage of public charter school employees; Sec. 414(d).
Notice 2015-3 (IRB 2015-6) Rules for claimants; one-time claim; retroactively extended 2014 biodiesel mixture and alternative fuel excise tax credits; rules for other extended credits.
Notice 2015-6 (IRB 2015-5) FICA withholding; FUTA tax; reporting requirements; sick pay paid by third parties rather than employers; filing requirements for new Form 8922, Third Party Sick Pay Recap.
Notice 2015-5 (IRB 2015-5) Corporate bond monthly yield curve; spot segment rates for December 2014; 24-month average segment rates applicable for January 2015 and the 30-year Treasury rates; Sec. 417; 430.
Notice 2015-4 (IRB 2015-5) Sec. 48; small wind energy property; performance and quality standards that must be met to qualify for the credit; reliance on an eligible certifier; required contents of a certification.
Notice 2015-2 (IRB 2015-4) Transit benefits; amounts treated as wages; $130 per month; special administrative procedure; fourth quarter Form 941.
Notice 2015-1 (IRB 2015-2) Special valuation rules for vehicles; maximum vehicle values; use of standard mileage rate for valuing personal use.

 

Announcements

Announcement 2014-8 (IRB 2015-9) U.S. v. Quality Stores, Inc. decision; claims for refund of employment taxes; claim for refund of FICA, RRTA, FUTA paid with respect to severance; Rev. Rul. 90-72.
Announcement 2014-6 (IRB 2015-8) Revocation of Sec. 501(c)(3) organizations for failure to meet code requirements; contributions to the organizations by individual donors no longer deductible.
Announcement 2014-5 (IRB 2015-7) Revocation of Sec. 501(c)(3) organizations for failure to meet code requirements; contributions to the organizations by individual donors no longer deductible.
Announcement 2014-4 (IRB 2015-5) Republic of Kazakhstan; Competent Authority Agreement; eligibility of treaties.
Announcement 2014-3 (IRB 2015-3) Automatic approval of a change in funding method; single-employer defined benefit plan; change in enrolled actuary.
Announcement 2014-2 (IRB 2015-3) Simplified process for issuers of Sec. 501(c)(3) bonds; closing agreement; Prospective Reinstatement; tax exempt status automatically revoked; Sec. 6033(j)(1).

 

       Links to Individual Bulletins

Internal Revenue Bulletin 2015-1
Internal Revenue Bulletin 2015-2
Internal Revenue Bulletin 2015-3
Internal Revenue Bulletin 2015-4
Internal Revenue Bulletin 2015-5
Internal Revenue Bulletin 2015-6
Internal Revenue Bulletin 2015-7
Internal Revenue Bulletin 2015-8
Internal Revenue Bulletin 2015-9

 


Copyright 2015 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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--Last Update 02/28/15