IRS Pronouncements--2017


Small Business Taxes & ManagementTM--Copyright 2017, 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, 2017. 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--2017--Short List. For a abbreviated, similar listing for prior years, go to:

IRS Pronouncements--2016
IRS Pronouncements--2015
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-17-xx.pdf
For Revenue Procedures-- www.irs.gov/pub/irs-drop/rp-17-xx.pdf
For Notices-- www.irs.gov/pub/irs-drop/n-17-xx.pdf

The xx must be at least two digits. Thus, Revenue Ruling 5 for 2017 would be: www.irs.gov/pub/irs-drop/RR-17-05.pdf   For prior years, change the 17 to the appropriate year (available years vary).

New Additions - Bulletin 21

Rev. Rul. 2017-09 (IRB 2017-21) North-South transactions; two examples; private letter rulings on these transactions no longer prohibited.

Rev. Proc. 2017-37 (IRB 2017-21) Health Savings Accounts; HSAs; 2018 inflation adjusted amounts; Sec. 223.
Rev. Proc. 2017-36 (IRB 2017-21) Sec. 36B; 5000A; Applicable Percentage Tables for 2018; premium tax credit; eligibility for affordable employer sponsored minimum essential coverage.
Rev. Proc. 2017-35 (IRB 2017-21) Sec. 143; Sec. 25; issuers of qualified mortgage bonds; mortgage credit certificates; area median gross income.

Notice 2017-30 (IRB 2017-21) Fuel removed from Milwaukee terminals; shutdown of West Shore Pipeline; 180-day emergency relief; refunds of Sec. 4081 tax; undyed diesel fuel.

For the full text of these rulings, go to Internal Revenue Bulletin 2017-21

 

Cumulative Listings - 2017

Revenue Rulings

Rev. Rul. 2017-09 (IRB 2017-21) North-South transactions; two examples; private letter rulings on these transactions no longer prohibited.
Rev. Rul. 2017-11 (IRB 2017-19) Applicable federal rates; adjusted federal long-term rate; May 2017.
Rev. Rul. 2017-10 (IRB 2017-17) Sec. 1.61-21(g); fringe benefits aircraft valuation formula; SIFL cents-per-mile rate; employer-provided aircraft; first half of 2017.
Rev. Rul. 2017-8 (IRB 2017-14) Applicable federal rates; adjusted federal long-term rate; April 2017.
Rev. Rul. 2017-6 (IRB 2017-12) Interest rates on underpayments and overpayments; quarter beginning April 1, 2017.
Rev. Rul. 2017-7 (IRB 2017-10) Applicable federal rates; adjusted federal long-term rate; March 2017.
Rev. Rul. 2017-5 (IRB 2017-09) Sec. 401; covered compensation tables effective January 1, 2017.
Rev. Rul. 2017-4 (IRB 2017-06) Applicable federal rates; adjusted federal long-term rate; February 2017.
Rev. Rul. 2017-3 (IRB 2017-04) Insurance contracts issued in 2016 and 2017; prevailing state assumed interest rate; insurance reserves.
Rev. Rul. 2017-1 (IRB 2017-03) Base period T-bill rate; interest charge domestic international sales corporation; IC-DISC.
Rev. Rul. 2017-2 (IRB 2017-02) Applicable federal rates; adjusted federal long-term rate; January 2017.

 

Revenue Procedures

Rev. Proc. 2017-37 (IRB 2017-21) Health Savings Accounts; HSAs; 2018 inflation adjusted amounts; Sec. 223.
Rev. Proc. 2017-36 (IRB 2017-21) Sec. 36B; 5000A; Applicable Percentage Tables for 2018; premium tax credit; eligibility for affordable employer sponsored minimum essential coverage.
Rev. Proc. 2017-35 (IRB 2017-21) Sec. 143; Sec. 25; issuers of qualified mortgage bonds; mortgage credit certificates; area median gross income.
Rev. Proc. 2017-33 (IRB 2017-19) PATH Act guidance; Sec. 179 expensing option; Sec. 168 additional first-year depreciation; qualified Indian reservation property depreciation.
Rev. Proc. 2017-30 (IRB 2017-18) List of Automatic Changes; Rev. Proc. 2015-13; modified by Rev. Proc. 2015-33 and Rev. Proc. 2016-1.
Rev. Proc. 2017-32 (IRB 2017-17) Specifications for paper and computer generated substitutes for Form 941, Schedule B; Schedule D; Schedule R; Form 8974; Rev. Proc. 2016-16 superseded.
Rev. Proc. 2017-31 (IRB 2017-16) List of countries; automatic exchange relationship; bank deposit interest income information; Belgium, Colombia, Portugal added.
Rev. Proc. 2017-29 (IRB 2017-14) Depreciation limits; autos and light trucks; vehicles; lease inclusion amounts; placed in service in 2017; leased vehicles.
Rev. Proc. 2017-28 (IRB 2017-14) Guidance to employers; requirements for employee consent used by employer to support a claim for refund of overpaid FICA taxes.
Rev. Proc. 2017-27 (IRB 2017-14) Qualified mortgage bonds; QMBs; qualified mortgage certificates; MCCs; average area purchase safe harbors.
Rev. Proc. 2017-25 (IRB 2017-14) Small Business/Self Employed Fast Track Settlement Program established; SB/SE FTS; expendited format for resolving disputes; unagreed factual or legal issues; Anouncement 2011-5 superseded.
Rev. Proc. 2017-26 (IRB 2017-13) Foreign earned income exclusion; waiver of minimum time requirement; South Sudan added for tax year 2016.
Rev. Proc. 2017-19 (IRB 2017-7) Relief under Rev. Proc. 2015-57 extended; Federal student loans to finance attendance at school owned by American Career Institutes, Inc.; discharge of indebtedness information statements.
Rev. Proc. 2017-23 (IRB 2017-7) Form 8975; Country-by-Country Report; accompanying schedules; U.S. multinational enterprise groups; MNE.
Rev. Proc. 2017-19 (IRB 2017-7) Energy Savings Performance Contracts; sale of electricity; safe harbor; Sec. 7701.
Rev. Proc. 2017-22 (IRB 2017-6) Sec. 118; safe harbor received by corporate taxpayers; Department of Transportation; Rev. Proc. 2010-46 clarified.
Rev. Proc. 2017-21 (IRB 2017-6) Withholding foreign partnerships; WPs; withholding foreign trusts; WTs; qualified intermediary withholding agreement; Rev. Proc. 2014-47; Rev. Proc. 2017-15.
Rev. Proc. 2017-13 (IRB 2017-6) Sec. 141; 145; safe harbor; management contract resulting in private business use; property financed with governmental tax-exempt bonds.
Rev. Proc. 2017-18 (IRB 2017-5) Sec. 403(b) plans; last day of the remedial amendment period for purposes of Rev. Proc. 2013-22, section 21 is March 31, 2020.
Rev. Proc. 2017-16 (IRB 2017-3) Participating foreign financial institution; FFI; Sec. 1471; FFI agreement.
Rev. Proc. 2017-15 (IRB 2017-3) Final qualified intermediary withholding agreement; QI; foreign persons; withholding agents; qualified derivatives dealers; QDDs; withholding foreign partnership; withholding foreign trust.
Rev. Proc. 2017-14 (IRB 2017-3) Certified professional employer organizations; CFEO; employee leasing; voluntary certification.
Rev. Proc. 2017-12 (IRB 2017-3) Internal total loss absorbing capacity instruments as indebtedness; (TLAC).
Rev. Proc. 2017-11 (IRB 2017-2) Civil penalties; inflation-adjusted items; returns and statements required to be filed after December 31, 2015; failure to file correct information returns; Rev. Proc. 2015-53 modified.
Rev. Proc. 2017-10 (IRB 2017-2) Determination letters; private foundation status; Sec. 509(a); operating status; Sec. 4942(j)(3); exempt operating foundation status; Sec. 4940(d)(2); foundation status under Sec. 509(a)(3) of nonexempt charitable trusts; Rev. Proc. 2015-10 superseded.
Rev. Proc. 2017-8 (IRB 2016-1) Guidance for user fee program for requests for letter rulings, determination letters, advisory letters and Volumntary Correction Program (VCP); exempt organizations; Rev. Proc. 2015-8 superseded.
Rev. Proc. 2017-7 (IRB 2017-1) Areas in which rulings will not be issued, Associate Chief Counsel International.
Rev. Proc. 2017-5 (IRB 2017-1) Revised procedures for issuing determination letters on on issues under jurisdicition of Director, Exempt Organizations Rulings and Agreements.
Rev. Proc. 2017-4 (IRB 2017-1) Revised procedures; guidance on issues under the jurisdiction of the Commissioner, Tax Exempt and Government Entities; Rev. Procs. 2016-4, 2016-6 and 2016-8 superseded.
Rev. Proc. 2017-3 (IRB 2017-1) 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; Associate Chief Counsel; Rev. Proc. 2016-3 superseded.
Rev. Proc. 2017-2 (IRB 2017-1) Procedures for 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; Associate Chief Counsel; Rev. Proc. 2016-2 superseded.
Rev. Proc. 2017-1 (IRB 2017-1) Procedures for letter rulings and information letters; Associate Chief Counsel; Corporate; Financial Institutions and Products; Income Tax and Accounting; International; Passthroughs and Special Industries; Procedure and Administration; Tax Exempt and Government Entities; Rev. Proc. 2016-1 superseded.

 

Regulations

T.D. 9817 (IRB 2017-9) Sec. 7704; qualifying income exception for publicly traded partnerships to not be treated as corporations; activities that generate qualifying source income from minerals and natural resources.
T.D. 9815 (IRB 2017-9) Sec. 871; financial products providing payments contingent on U.S. source dividend payments; nonresident alien individuals and foreign corporations; guidance to withholding agents.
T.D. 9814 (IRB 2017-7) Sec. 721; 197; 704; 6038B; transfers of appreciated property by U.S. persons to partnerships with foreign partners related to the transferor; nonrecognition of gain on a contribution of property to a partnership.
T.D. 9811 (IRB 2017-7) Sec. 1022; modified carryover basis; property transferred from certain decedents who died in 2010.
T.D. 9810 (IRB 2017-6) S corporations; regulated investment companies; RICs; real estate investment trusts; REITs; property previously held by a C corporation; specified recognition period.
T.D. 9809 (IRB 2017-5) Sec. 1471 through 1474; information reporting by foreign financial institutions; FFIs; withholding on certain payments to FFIs and other entities.
T.D. 9808 (IRB 2017-5) Sec. 871; 3406; 6402; withholding tax on certain U.S. source income paid to foreign persons; information reporting and backup withholding.
T.D. 9807 (IRB 2017-5) Sec. 6041; replacement of reporting requirements under Sec. 7.6041-1; taxpayers who make reportable payments of bingo, keno, or slot machine winnings.
T.D. 9806 (IRB 2017-4) Passive foreign investment company; PFIC; annual reporting requirements; Form 8621; Form 5471.
T.D. 9804 (IRB 2017-3) Sec. 36B; health insurance premium credit; amendment to computation of credit; pediatric dental benefits; information reporting by Exchanges.
T.D. 9803 (IRB 2017-3) Sec. 367; certain transfers of property from U.S. persons to foreign corporations in nonrecognition transactions; certain temporary regulations withdrawn.
T.D. 9796 (IRB 2017-3) Sec. 6038A; domestic disregarded entity wholly owned by a foreign person as a domestic corporation separate from its owner; for limited purposes of reporting, record maintenance, and compliance requirements.
T.D. 9802 (IRB 2017-2) Sec. 6103; disclosure of certain items of return information; Bureau of Census.
T.D. 9801 (IRB 2017-2) Sec. 148; 103; 54A; 6431; revised definition of issue price for arbitrage restrictions; tax exempt bonds; tax credit bonds; direct pay bonds.
T.D. 9795 (IRB 2017-2) Sec. 987; recognition and deferral of foreign currency gain or loss; qualified business unit; QBU; annual deemed termination election.
T.D. 9794 (IRB 2017-2) Sec. 987; determination of taxable income or loss; qualified business unit; QBU; timing, amount, character and source of gain or loss.

 

Proposed Regulations

REG-135122-16 (IRB 2017-9) Sec. 871; financial products providing payments contingent on U.S. source dividend payments; nonresident alien individuals and foreign corporations; guidance to withholding agents.
REG-137604-07 (IRB 2017-7) Dependency exemption; definition of surviving spouse; definition of head of household; child and dependent care credit; earned income tax credit.
REG-127203-15 (IRB 2017-7) Sec. 721; 197; 704; 6038B; transfers of appreciated property by U.S. persons to partnerships with foreign partners related to the transferor; nonrecognition of gain on a contribution of property to a partnership; text same as temporary regulations T.D. 9814.
REG-131643-15 (IRB 2017-6) Sec. 401(k); funding matching contributions; qualified nonelective contributions; satisfying certain nonforfeitability and distribution requirements.
REG-123829-16 (IRB 2017-5) Health Insurance Providers Fee; electronically file Form 8963.
REG-134247-16 (IRB 2017-5) Sec. 871; 3406; 6402; withholding tax on certain U.S. source income paid to foreign persons; information reporting and backup withholding.
REG-103477-14 (IRB 2017-5) Sec.1471 through 1474; information reporting by foreign financial institutions; FFIs; withholding on certain payments to FFIs and other entities.
REG-123841-16 (IRB 2017-5) Sec. 3402; withholding on certain gambling winnings; horse races; dog races; jai alai.
REG-112324-15 (IRB 2017-4) Mortality tables for defined benefit pension plans.
REG-112800-16 (IRB 2017-4) Sec. 468A; amounts contributed to a qualified nuclear decommissioning reserve fund.
REG-133353-16 (IRB 2017-2) Sec. 6103; disclosure of certain return information to the Bureau of Census.
REG-134438-15 (IRB 2017-2) Modify current definition of "net premiums written" for fee imposed under Affordable Care Act.
REG-128276-12 (IRB 2017-2) Sec. 987; 988; recognition and deferral of foreign currency gain or loss; qualified business unit; QBU; QBU termination; annual deemed termination election.

 

Notices

Notice 2017-30 (IRB 2017-21) Fuel removed from Milwaukee terminals; shutdown of West Shore Pipeline; 180-day emergency relief; refunds of Sec. 4081 tax; undyed diesel fuel.
Notice 2017-29 (IRB 2017-20) Syndicated conservation easement transaction; disclosure obligations; additional time to satisfy Notice 2017-10.
Notice 2017-28 (IRB 2017-19) 2017-2018 Priority Guidance Plan; request for recommendations.
Notice 2017-27 (IRB 2017-19) Corporate bond monthly yield curve April 2017; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2017-26 (IRB 2017-17) Sec. 613A; percentage oil depletion on marginal properties; applicable percentage for 2017; 15 percent.
Notice 2017-25 (IRB 2017-17) Inflation adjustment factor and phase-out amount for enhanced oil recovery credit for 2017.
Notice 2017-24 (IRB 2017-17) Sec. 45K; reference price; enhanced oil recovery credit; Sec. 43; marginal well production credit; Sec. 45L: percentage depletion marginal properties; Sec. 613A.
Notice 2017-23 (IRB 2017-16) Sec. 41; 3111; payroll tax credit; credit for increase research activities.
Notice 2017-17 (IRB 2017-15) Change in method of accounting for recognizing income; adoption of new financial accounting revenue recognition standards; proposed revenue procedure.
Notice 2017-22 (IRB 2017-13) Corporate bond monthly yield curve March 2017; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2017-21 (IRB 2017-13) Sec. 911; determination of foreign housing cost amounts eligible for exclusion or deduction.
Notice 2017-20 (IRB 2017-11) Qualified small employer health reimbursement arrangement; QSEHRA; extension of time to furnish written notice to employees; period extended from March 13, 2017 to 90 days after additional guidance regarding contents of notice; transitional relief from penalties; Sec. 6652.
Notice 2017-19 (IRB 2017-9) Sec 41; 142; 146; state housing credit ceiling; private activity bond volume cap; private activity bond volume limit.
Notice 2017-18 (IRB 2017-9) Corporate bond monthly yield curve February 2017; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2017-16 (IRB 2017-7) Sec. 35; health coverage tax credit; HCTC; time for election; 3-year statute of limitations under Sec. 6511.
Notice 2017-15 (IRB 2017-6) Recalculating of taxpayer's remaining applicable exclusion amount and remaining GST exemption; allocation of exclusion or exemption to transfers made while taxpayer married to person of same sex.
Notice 2017-14 (IRB 2017-6) Sec. 5000A; 35; individual shared responsibility payment; hardship exemption; health coverage tax credit; HCTC.
Notice 2017-13 (IRB 2017-6) Corporate bond monthly yield curve January 2017; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2017-5 (IRB 2017-6) Sec. 4051; 4052; definitions of chassis and body; safe harbor.
Notice 2017-12 (IRB 2017-5) Estate tax; confirmation of closing of an examination of an estate tax return; account transcript with a transaction code of 421.
Notice 2017-10 (IRB 2017-4) Syndicated conservation easement transactions; tax avoidance transactions; listed transactions; participants and material advisors.
Notice 2017-9 (IRB 2017-4) Sec. 6721 and 6722; error on an information return or payee statement; correction threshold to avoid penalty; safe harbor $100 amount, $25 tax withheld.
Notice 2017-4 (IRB 2017-4) Sec. 45 and 48; beginning of construction; extension and modification of Continuity Safe Harbor; Five Percent Safe Harbor; renewable energy facilties.
Notice 2017-2 (IRB 2017-4) List of Indian tribes who have settled tribal trust cases; Notice 2013-1 updated.
Notice 2017-8 (IRB 2017-3) Extension of time for filing participant and material advisor disclosure statements until May 1, 2017; Notice 2016-66 modified.
Notice 2017-7 (IRB 2017-3) Effective date of Reg. Sec. 1.987-12T deferral rule; outbound loss events; entity classification election; Sec. 301.7701-3.
Notice 2017-6 (IRB 2017-3) Secs. 162; 263; Automatic changes to utilize final tangible property regulations; waiver of eligibility rule for one more year taxable year beginning before January 1, 2017; automatic changes to comply with final depreciation and disposition regulations; five taxable year period of accounting method change for same item.
Notice 2017-3 (IRB 2017-2) Maximum vehicle values for use with special valuation rule; cents per mile valuation rule; inflation adjustment.
Notice 2017-1 (IRB 2017-2) Sec. 7528; exemption from user fee; requests for determination letters; qualified status of pension, profit-sharing, stock bonus, annuity, and employee stock ownership plans maintained by small employers; Rev. Proc. 2016-37.

 

Announcements

Announcement 2017-4 (IRB 2017-16) Sec. 4975; excise taxes; relief in prohibited transactions; parallel to DOL relief.
Announcement 2017-3 (IRB 2017-15) Advance pricing agreements; APAs; Advance Pricing and Mutual Agreement Program; APMA; annual report.
Announcement 2017-2 (IRB 2017-10) Sec. 501(c)(3); revocation of organizations for failure to meet code requirements; contributions no longer deductible.
Announcement 2017-1 (IRB 2017-8) Office of Professional Responsibility; OPR; recent disciplinary sanctions; attorneys; CPAs; enrolled agents; enrolled actuaries; entrolled retirement plan agents; appraisers.

 

Action On Decision

Action on Decision 2017-4 (IRB 2017-15) Acquiescence result only; holding in Scott Singer Installations, Inc.; S corporation; payment of personal expenses for sole-shareholder-officer; subject to employment taxes.
Action on Decision 2017-3 (IRB 2017-15) Nonacquiescence; holding in Shea Homes,Inc. and Subsidiaries; home construction contract; complete when 95 percent of estimated cost of development.
Action on Decision 2017-2 (IRB 2017-15) Nonacquiescence; holding in Stine, LLC; buildings placed in service; limited certificate of occupancy; shelving in place; retail store; receive customers.
Action on Decision 2017-1 (IRB 2017-7) Nonacquiescence announced; holding in Burnett Ranches, Ltd; limited partnership not a farming syndicate; sole shareholder of limited partner S corporation; active participation in farming business.

 

       Links to Individual Bulletins

Internal Revenue Bulletin 2017-1
Internal Revenue Bulletin 2017-2
Internal Revenue Bulletin 2017-3
Internal Revenue Bulletin 2017-4
Internal Revenue Bulletin 2017-5
Internal Revenue Bulletin 2017-6
Internal Revenue Bulletin 2017-7
Internal Revenue Bulletin 2017-8
Internal Revenue Bulletin 2017-9
Internal Revenue Bulletin 2017-10
Internal Revenue Bulletin 2017-11
Internal Revenue Bulletin 2017-12
Internal Revenue Bulletin 2017-13
Internal Revenue Bulletin 2017-14
Internal Revenue Bulletin 2017-15
Internal Revenue Bulletin 2017-16
Internal Revenue Bulletin 2017-17
Internal Revenue Bulletin 2017-18
Internal Revenue Bulletin 2017-19
Internal Revenue Bulletin 2017-20
Internal Revenue Bulletin 2017-21

 


Copyright 2017 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 05/20/17