Federal Tax Regulations Issued in 2015

Title of Regulation

[Health care regs noted with “ACA”]

Status

Citation

IRC Sections

Additional Information

Credit for Increasing Research Activities

Prop regs

REG-153656-03 (1/20/15)

41

“proposed regulations concerning the application of section 41, which provides a credit for increasing research activities. The proposed regulations provide guidance on computer software that is developed by (or for the benefit of) the taxpayer primarily for internal use by the taxpayer (internal use software) under section 41(d)(4)(E). These proposed regulations also include examples to illustrate the application of the process of experimentation requirement to computer software under section 41(d)(1)(C). The regulations will affect taxpayers engaged in research activities involving computer software.”

Applications for Recognition as a 501(c)(29) Organization

Final regs and removal of temp regs

TD 9709 (1/29/15)

501

“final regulations authorizing the IRS to prescribe the procedures by which certain entities may apply to the IRS for recognition of exemption from Federal income tax. These regulations affect qualified nonprofit health insurance issuers participating in the Consumer Operated and Oriented Plan program established by the Centers for Medicare and Medicaid Services that seek exemption from federal income tax under the Internal Revenue Code.”

Correction – FR 12760 (3/11/15)

Foreign Tax Credit Splitting Events

Final regs and removal of temp regs

TD 9710 (2/10/15)

704

909

“final Income Tax Regulations with respect to a provision of the Internal Revenue Code (Code) that addresses situations in which foreign income taxes have been separated from the related income. These regulations are necessary to provide guidance on applying the statutory provision, which was enacted as part of legislation commonly referred to as the Education Jobs and Medicaid Assistance Act (EJMAA) on August 10, 2010. These regulations affect taxpayers claiming foreign tax credits or deducting foreign income taxes.”

Request for Information on Suspensions of Benefits Under the Multiemployer Pension Reform Act of 2014

Request for information

REG–102648–15 (2/18/15)

432

“The Department of the Treasury invites public comments with regard to future guidance required to implement provisions of the Multiemployer Pension Reform Act of 2014, Division O of the Consolidated and Further Continuing Appropriations Act, 2015, Public Law 113–235 (MPRA). MPRA generally permits a sponsor of a multiemployer defined benefit plan that is in critical and declining status to suspend certain benefits following the provision of specified notice, consideration of public comments, approval of an application for suspension, and satisfaction of other specified conditions (including a participant vote).”

Health Insurance Providers Fee

ACA

Final and temp regs

Prop regs

TD 9711 (2/26/15)

REG-143416 (2/26/15)

57.2

57.10

“temporary regulations that provide rules for the definition of a covered entity for purposes of the fee imposed by section 9010 of the Patient Protection and Affordable Care Act, as amended. The temporary regulations are necessary to clarify certain terms in section 9010. The temporary regulations affect persons engaged in the business of providing health insurance for United States health risks.”

Alternative Simplified Credit Election

Final regs and removal of temp regs

TD 9712 (2/27/15)

41

“final regulations relating to the election of the alternative simplified credit under section 41(c)(5)”

Determination of Adjusted Applicable Federal Rates and Adjusted Federal Long-Term Rate Under Section 1288 and the Adjusted Federal Long-Term Rate Under Section 382

Notice proposed rulemaking

REG-136018-13 (3/2/15)

382

1288

“proposed regulations that provide the method to be used to adjust the applicable Federal rates (AFRs) under section 1288 of the Internal Revenue Code (Code) (adjusted AFRs) for tax-exempt obligations and the method to be used to determine the long-term tax exempt rate and the adjusted Federal long-term rate under section 382. For tax-exempt obligations, the proposed regulations affect the determination of original issue discount under section 1273 and of total unstated interest under section 483. In addition, the proposed regulations affect the determination of the limitations under sections 382 and 383 on the use of certain operating loss carryforwards, tax credits, and other attributes of corporations following ownership changes.”

Winnings from Bingo, Keno, and Slot Machines

Prop regs

REG-132253-11 (3/4/15)

6041

“proposed regulations under section 6041 regarding the filing of information returns to report winnings from bingo, keno, and slot machine play. The proposed regulations affect persons who pay winnings of $1,200 or more from bingo and slot machine play, $1,500 or more from keno, and recipients of such payments.”

Public hearing held June 17, 2015. As of 6/25/15, 14,105 comments were received!

Reporting Income and Deductions of a Corporation that Becomes or Ceases to Be a Member of a Consolidated Group

Prop regs

REG-100400-14 (3/6/15)

1361

1502

“proposed amendments to the consolidated return regulations. These proposed regulations would revise the rules for reporting certain items of income and deduction that are reportable on the day a corporation joins or leaves a consolidated group. The proposed regulations would affect such corporations and the consolidated groups that they join or leave.”

Reporting for Premium; Basis

Reporting by Securities Brokers and

Basis Determination for Debt

Instruments and Options

Final and temp regs

Prop regs

TD 9713 (3/13/15)

REG–143040–14 (3/13/15)

6045

6045A

6049

“final regulations relating to information reporting by brokers for bond premium and acquisition premium. This document also contains final and temporary regulations relating to information reporting by brokers for transactions involving debt instruments and options, including the reporting of original issue discount (OID) on tax-exempt obligations, the treatment of certain holder elections for reporting a taxpayer’s adjusted basis in a debt instrument, and transfer reporting for section 1256 options and debt instruments. The regulations in this document provide guidance to brokers and payors and to their customers.”

Correction – FR 20413 (5/16/15)

Correction – FR 20454 (4/16/15)

Correction – FR 31995 (6/5/15)

Privacy Act of 1974; Implementation

[info related to PTINs]

Final rule

RIN 1505–AC37 (3/17/15)

“In accordance with the Privacy Act of 1974, as amended, the Department of the Treasury (Treasury) gives notice of an amendment to update its Privacy Act regulations to add an exemption from certain provisions of the Privacy Act for a system of records related to the Internal Revenue Service Return Preparer Office.”

  “On behalf of the IRS Treasury published a system of records notice at 76 FR 70813, November 15, 2011, establishing a new system of records entitled ‘‘Treasury/IRS 37.111— Preparer Tax Identification Number Records.’’”

   “Treasury also published a proposed rule at 76 FR 71293, on November 17, 2011, that would amend 31 CFR 1.36(g)(1)(vii).”

 Effective: 3/17/15.

Amendments to Excepted Benefits

ACA

Final rules

TD 9714 (3/18/15)

9831

“final regulations that amend the regulations regarding excepted benefits under the Employee Retirement Income Security Act of 1974, the Internal Revenue Code, and the Public Health Service Act to specify requirements for limited wraparound coverage to qualify as an excepted benefit. Excepted benefits are generally exempt from the requirements that were added to those laws by the Health Insurance Portability and Accountability Act and the Affordable Care Act.”

Regulations Revising Rules Regarding Agency for a Consolidated Group

Final regs

TD 9715 (4/1/15)

338

1502

“final regulations regarding the agent for an affiliated group of corporations that files a consolidated return (consolidated group). The final regulations provide guidance concerning the identity and authority of the agent for a consolidated group. These final regulations affect all corporations in consolidated groups.”

Correction – FR23237 (4/27/15)

Correction – FR23238 (4/27/15)

Certain Employee Remuneration in Excess of $1,000,000 under Internal Revenue Code Section 162(m)

Final regs

TD 9716 (3/31/15)

162

“final regulations relating to the deduction limitation for certain employee remuneration in excess of $1,000,000 under the Internal Revenue Code (Code). These regulations affect publicly held corporations.”

Allocation of Controlled Group Research Credit

Final and temp regs

Prop regs

TD 9717 (4/3/15)

REG–133489–13 (4/3/15)

41

45G

280C

“final and temporary regulations relating to the allocation of the credit for increasing research activities (research credit) to corporations and trades or businesses under common control (controlled groups)... This document also contains final and temporary regulations relating to the allocation of the railroad track maintenance credit and the election for a reduced research credit.”

Correction – FR23238 (4/27/15)

Correction – FR23237 (4/27/15)

Correction to prop regs – FR23244 (4/27/15)

Period of Limitations on Assessment for Listed Transactions Not Disclosed Under Section 6011

Final regs

TD 9718 (3/31/15)

6501

“final regulations relating to the exception to the general three-year period of limitations on assessment under section 6501(c)(10) of the Internal Revenue Code (Code) for listed transactions that a taxpayer failed to disclose as required under section 6011. These final regulations affect taxpayers who fail to disclose listed transactions in accordance with section 6011.”

Correction – FR23443 (4/28/15)

Tax on Certain Foreign Procurement

Prop regs

REG–103281–11 (4/22/15)

5000C

“proposed regulations under section 5000C of the Internal Revenue Code relating to the 2 percent tax on payments made by the U.S. government to foreign persons pursuant to certain contracts. The proposed regulations affect U.S. government acquiring agencies and foreign persons providing certain goods or services to the U.S. government pursuant to a contract. This document also contains proposed regulations under section 6114, with respect to foreign persons claiming an exemption from the tax under an income tax treaty.”

Correction – FR 39397 (7/9/15)

Exception from Passive Income for Certain Foreign Insurance Companies

Prop regs

REG–108214–15 (4/24/15)

1297

“proposed regulations that provide guidance regarding when a foreign insurance company’s income is excluded from the definition of passive income under section 1297(b)(2)(B). The proposed regulations affect the U.S. shareholders of foreign corporations.”

 Correction FR50814 (8/21/15)

Qualifying Income from Activities of Publicly Traded Partnerships with Respect to Minerals or Natural Resources

Prop regs

REG–132634–14 (5/6/15)

7704

“proposed regulations under section 7704(d)(1)(E) relating to qualifying income from exploration, development, mining or production, processing, refining, transportation, and marketing of minerals or natural resources. The proposed regulations affect publicly traded partnerships and their partners.”

Correction – FR 34856 (6/18/15)

Notional Principal Contracts; Swaps with Nonperiodic Payments

Final and temp regs

Prop regs

TD 9719 (5/8/15)

REG-102656-15 and REG-107548-11 (5/8/15)

446

956

“final and temporary regulations amending the treatment of nonperiodic payments made or received pursuant to certain notional principal contracts. These regulations provide that, subject to certain exceptions, a notional principal contract with a nonperiodic payment, regardless of whether it is significant, must be treated as two separate transactions consisting of one or more loans and an on-market, level payment swap. This document also contains temporary regulations regarding an exception from the definition of United States property. These regulations affect parties making and receiving payments under notional principal contracts, including United States shareholders of controlled foreign corporations and tax-exempt organizations.”

Correction – FR 34051 (6/15/15)

Change in effective date – FR 61308 (10/13/15)

Application of Modified Carryover Basis to General Basis Rules

Prop regs

REG-107595-11 (5/11/15)

48

83

179

197

267

273

306

336

355

382

421

423

424

467

617

684

691

742

743

755

995

1001

1014

1223

1245

1250

1254

1296

1312

“proposed regulations that provide guidance regarding the application of the modified carryover basis rules of section 1022 of the Internal Revenue Code (Code). Specifically, the proposed regulations will modify provisions of the Treasury Regulations involving basis rules by including a reference to section 1022 where appropriate. The regulations will affect property transferred from certain decedents who died in 2010. The regulations reflect changes to the law made by the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.”

Guidance Regarding the Treatment of

Transactions in Which Federal

Financial Assistance Is Provided

Prop regs

REG–140991–09 (5/20/15)

597

“proposed regulations under section 597. The proposed regulations, which will apply to banks and domestic building and loan associations (and related parties) that receive Federal financial assistance (‘‘FFA’’), will modify and clarify the treatment of transactions in which FFA is provided to such institutions.”

Substantial Business Activities

Final regs

TD 9720 (6/4/15)

7874

“final regulations regarding when an expanded affiliated group will be considered to have substantial business activities in a foreign country. These regulations affect certain domestic corporations and partnerships (and certain parties related to them), and foreign corporations that acquire substantially all of the properties of such domestic corporations or partnerships.”

Segregation Effective Date Rule

Final regs and removal of temp regs

TD 9721 (6/5/15)

382

“final regulations under section 382 that modify the effective date provision of recently published regulations. These regulations affect corporations whose stock is or was acquired by the Department of the Treasury (Treasury) pursuant to certain programs under the Emergency Economic Stabilization Act of 2008 (EESA).”

Elimination of Circular Adjustments to Basis; Absorption of Losses

Prop regs

REG–101652–10 (6/11/15)

1502

“proposed amendments to the consolidated return regulations. These amendments would revise the rules concerning the use of a consolidated group’s losses in a consolidated return year in which stock of a subsidiary is disposed of. The regulations would affect corporations filing consolidated returns.”

Partnership Transactions Involving Equity Interests of a Partner

Final and temp regs

Prop regs

TD 9722 (6/12/15)

REG-149518–03 (6/12/15)

337

732

“final and temporary regulations that prevent a corporate partner from avoiding corporate-level gain through transactions with a partnership involving equity interests of the partner. These regulations affect partnerships and their partners.”

“The purpose of these regulations authorized under section 337(d) is to prevent corporate taxpayers from using a partnership to circumvent gain required to be recognized under section 311(b) or section 336(a).”

Correction – FR 38941 (7/8/15)

Correction – FR 38940 (7/8/15)

Aggregation of Basis for Partnership Distributions Involving Equity Interests of a Partner

Prop regs

REG–138759–14 (6/12/15)

732

“proposed regulations that would allow consolidated group members that are partners in the same partnership to aggregate their bases in stock distributed by the partnership for the purpose of limiting the application of rules that might otherwise cause basis reduction or gain recognition. The proposed regulations would also require certain corporations that engage in gain elimination transactions to reduce the basis of corporate assets or to recognize gain. The proposed regulations affect partnerships and their partners.”

Suspension of Benefits under the Multiemployer Pension Reform Act of 2014

Temp regs

Prop regs

TD 9723 (6/19/15)

REG–102648–15 (6/19/15)

“temporary regulations relating to multiemployer pension plans that are projected to have insufficient funds, at some point in the future, to pay the full benefits to which individuals will be entitled under the plans (referred to as plans in ‘‘critical and declining status’’). The Multiemployer Pension Reform Act of 2014 (‘‘MPRA’’) amended the Internal Revenue Code to incorporate suspension of benefits provisions that permit these multiemployer plans to reduce pension benefits payable to participants and beneficiaries if certain conditions are satisfied. MPRA requires the Secretary of the Treasury, in consultation with the Pension Benefit Guaranty Corporation and the Secretary of Labor, to approve or deny applications by these plans to reduce benefits. As required by MPRA, these temporary regulations, together with proposed regulations being published at the same time, provide guidance implementing these statutory These temporary regulations affect active, retired, and deferred vested participants and beneficiaries of multiemployer plans that are in critical and declining status as well as employers contributing to, and sponsors and administrators of, those plans.”

Effective 6/19/15.

Correction – FR 46795 (8/6/15)

Correction – FR 46882 (8/6/15)

Also see Rev. Proc. 2015-34.

Summary of Benefits and Coverage and Uniform Glossary

ACA

Final rules

TD 9724 (6/16/15)

9815

“final regulations regarding the summary of benefits and coverage (SBC) and the uniform glossary for group health plans and health insurance coverage in the group and individual markets under the Patient Protection and Affordable Care Act. It finalizes changes to the regulations that implement the disclosure requirements under section 2715 of the Public Health Service Act to help plans and individuals better understand their health coverage, as well as to gain a better understanding of other coverage options for comparison.”

 Effective 8/17/15.

Portability of a Deceased Spousal Unused Exclusion Amount

Final regs and removal of temp regs

TD 9725 (6/16/15)

2001

2010

2505

“final regulations that provide guidance under sections 2010 and 2505 of the Internal Revenue Code on the estate and gift tax applicable exclusion amount, in general, as well as on the applicable requirements for electing portability of a deceased spousal unused exclusion (DSUE) amount to the surviving spouse and on the applicable rules for the surviving spouse’s use of this DSUE amount. The statutory provisions underlying the portability rules were enacted as part of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, and these provisions were made permanent by the American Taxpayer Relief Act of 2012. The portability rules affect the estates of married decedents dying on or after January 1, 2011, and the surviving spouses of those decedents.”

 Effective for estates of decedents who die on or after 6/12/15.

Qualified ABLE Programs

1.529A–0 Table of contents.

1. 529A–1 Exempt status of qualified ABLE program and definitions.

1.529A–2 Qualified ABLE program.

1.529A–3 Tax treatment.

1.529A–4 Gift, estate, and generation skipping transfer taxes.

1.529A–5 Reporting of the establishment of and contributions to an ABLE account.

1.529A–6 Reporting of distributions from and termination of an ABLE account.

1.529A–7 Electronic furnishing of

statements to designated beneficiaries and contributors.

Prop regs

REG–102837–15 (6/22/15)

511

513

529A

2501

2503

2511

2642

2652

6011

“proposed regulations under section 529A that provide guidance regarding programs under The Stephen Beck, Jr., Achieving a Better Life Experience Act of 2014. Section 529A provides rules under which States or State agencies or instrumentalities may establish and maintain a new type of tax-favored savings program through which contributions may be made to the account of an eligible disabled individual to meet qualified disability expenses. These accounts also receive favorable treatment for purposes of certain means-tested Federal programs. In addition, these proposed regulations provide corresponding amendments to regulations under sections 511 and 513, with respect to unrelated business taxable income, sections 2501, 2503, 2511, 2642 and 2652, with respect to gift and generation-skipping transfer taxes, and section 6011, with respect to reporting requirements.”

 Correction – FR47430 (8/7/15)

Also see IR-2015-91 (6/19/15) that summarizes the proposed regulations and notes two new forms:

• Form 1099-QA for distributions
• Form 5498-QA for contributions

Also see clarification in Notice 2015-81 and IRS news release IR-2015-130 (11/20/15).

Issue Price Definition for Tax-Exempt Bonds

Prop regs and partial removal of prior prop regs

REG–138526–14 (6/24/15)

148

“partially withdraws the portion of the notice of proposed rulemaking published in the Federal Registeron September 16, 2013 (78 FR 56842), relating to the definition of issue price for purposes of the arbitrage restrictions under section 148. This document also contains a notice of proposed rulemaking that provides a revised definition of issue price for purposes of the arbitrage restrictions. In addition, this document provides notice of a public hearing on the proposed regulations in this document. The proposed regulations in this document affect issuers of tax-exempt and other tax-advantaged bonds.”

  Correction – FR 45466 (7/30/15)

Coverage of Certain Preventive Services Under the Affordable Care Act

ACA

Final regs

TD 9726 (7/14/15)

9815

“final regulations regarding coverage of certain preventive services under section 2713 of the Public Health Service Act (PHS Act), added by the Patient Protection and Affordable Care Act, as amended, and incorporated into the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code. Section 2713 of the PHS Act requires coverage without cost sharing of certain preventive health services by nongrandfathered group health plans and health insurance coverage. These regulations finalize provisions from three rulemaking actions: Interim final regulations issued in July 2010 related to coverage of preventive services, interim final regulations issued in August 2014 related to the process an eligible organization uses to provide notice of its religious objection to the coverage of contraceptive services, and proposed regulations issued in August 2014 related to the definition of ‘‘eligible organization,’’ which would expand the set of entities that may avail themselves of an accommodation with respect to the coverage of contraceptive services.”

Property Transferred in Connection with the Performance of Services

Prop regs

REG-135524–14 (7/17/15)

83

“proposed regulations relating to property transferred in connection with the performance of services. These proposed regulations affect certain taxpayers who receive property transferred in connection with the performance of services and make an election to include the value of substantially nonvested property in income in the year of transfer.”

The purpose of this brief proposed reg is to enable returns with an 83(b) election to still be e-filed. The proposal removes the second sentence of §1.83-2(c) so that only one §83(b) election is filed – the one made within 30 days after the property transfer. Per the preamble to the regulations, the IRS already scans the original election and associates it with the taxpayer’s file. So, they suggest that another copy isn’t needed with the return.

Effective – proposed to be effective for property transferred on or after 1/1/16. “Taxpayers may rely on these proposed regulations for property transferred on or after January 1, 2015.”

Disguised Payments for Services

Prop regs

REG–115452–14 (7/23/15)

707

736

“disguised payments for services under section 707(a)(2)(A). The proposed regulations provide guidance to partnerships and their partners regarding when an arrangement will be treated as a disguised payment for services. This document also proposes conforming modifications to the regulations governing guaranteed payments under section 707(c). Additionally, this document provides notice of proposed modifications to Rev. Procs. 93–27 and 2001–43 relating to the issuance of interests in partnership profits to service providers.

 Correction – FR50240 (8/19/15)

Claims for Credit or Refund

Final regs

TD 9727 (7/24/15)

6402

“final regulations for filing a claim for credit or refund. The regulations provide guidance to taxpayers generally as to the proper place to file a claim for credit or refund. The regulations are updated to reflect changes made by the Tax Reform Act of 1976, section 1210, the Internal Revenue Service Restructuring and Reform Act of 1998, and the Community Renewal Tax Relief Act of 2000. The regulations are further updated to reflect that the IRS may prescribe additional claim forms.”

Determination of Distributive Share When Partner's Interest Changes

Final regs

TD 9728 (8/3/15)

706

“final regulations regarding the determination of a partner’s distributive share of partnership items of income, gain, loss, deduction, and credit when a partner’s interest varies during a partnership taxable year. The final regulations also modify the existing regulations regarding the required taxable year of a partnership. These final regulations affect partnerships and their partners.”    Finalizes proposed regs from 2009.

Correction – FR 68244 (11/4/15)

Correction – FR 68243 (11/4/15)

Allocable Cash Basis and Tiered Partnership Items

Prop regs

REG–109370–10 (8/3/15)

706

“proposed regulations regarding the determination of a partner’s distributive share of certain allocable cash basis items and items attributable to an interest in a lower-tier partnership during a partnership taxable year in which a partner’s interest changes. These proposed regulations affect partnerships and their partners.”

Correction – FR 66485 (10/29/15)

Basis in Interests in Tax-Exempt Trusts

Final regs

TD 9729 (8/12/15)

1001

1014

“final regulations that provide rules for determining a taxable beneficiary’s basis in a term interest in a charitable remainder trust (CRT) upon a sale or other disposition of all interests in the trust to the extent that basis consists of a share of adjusted uniform basis. The final regulations affect taxable beneficiaries of CRTs.” Relates back to Notice 2008-99 and proposed regulations issued 1/16/14.

  Correction – FR55543 (9/16/15)

Extension of Time to File Certain Information Returns

Final and temp regs

Prop regs

TD 9730 (8/13/15)

REG–132075–14 (8/13/15)

6081

“final and temporary regulations that remove the automatic extension of time to file information returns on forms in the W–2 series (except Form W–2G). The temporary regulations allow only a single 30-day non-automatic extension of time to file these information returns. These changes are being implemented to accelerate the filing of forms in the W–2 series (except Form W–2G) so they are available earlier in the filing season for use in the IRS’s identity theft and refund fraud detection processes. In addition, the temporary regulations update the list of information returns subject to the rules regarding extensions of time to file. The temporary regulations affect taxpayers who are required to file the affected information returns and need an extension of time to file.”

Allocation of W–2 Wages in a Short Taxable Year and in an Acquisition or Disposition

Final and temp regs

Prop regs

TD 9731 (8/27/15)

REG–136459–09 (8/27/15)

199

Final: “final and temporary regulations relating to the allocation of W–2 wages for purposes of the W–2 wage limitation on the amount of a taxpayer’s deduction related to domestic production activities. Specifically, the temporary regulations provide guidance on: the allocation of W–2 wages paid by two or more taxpayers that are employers of the same employees during a calendar year; and the determination of W–2 wages if the taxpayer has a short taxable year.”

Temp and prop: “proposed regulations involving the domestic production activities deduction under section 199. The proposed regulations provide guidance to taxpayers on the amendments made to section 199 by the Energy Improvement and Extension Act of 2008 and the Tax Extenders and Alternative Minimum Tax Relief Act of 2008, involving oil related qualified production activities income and qualified films, and the American Taxpayer Relief Act of 2012, involving activities in Puerto Rico. The proposed regulations also provide guidance on: Determining domestic production gross receipts; the terms manufactured, produced, grown, or extracted; contract manufacturing; hedging transactions; construction activities; allocating cost of goods sold; and agricultural and horticultural cooperatives. In the Rules and Regulations of this issue of the Federal Register, the Treasury Department and the IRS also are issuing temporary regulations (TD 9731) clarifying how taxpayers calculate W–2 wages for purposes of the W–2 wage limitation in the case of a short taxable year or an acquisition or disposition of a trade or business (including the major portion of a trade or business, or the major portion of a separate unit of a trade or business) during the taxable year.”

Residence Rules Involving U.S. Possessions

Prop regs

REG–109813–11 (8/27/15)

937

“proposed amendments to the regulations for determining whether an individual is a bona fide resident of a U.S. territory. These proposed amendments affect individuals establishing bona fide residency in a U.S. territory by allowing additional days of constructive presence in a U.S. territory.”

Reportable Transactions Penalties under Section 6707A

Prop regs

REG–103033–11 (8/28/15)

6707A

“proposed regulations that provide guidance regarding the amount of the penalty under section 6707A for failure to include on any return or statement any information required to be disclosed under section 6011 with respect to a reportable transaction. The proposed regulations are necessary to clarify the amount of the penalty under section 6707A, as amended by the Small Business Jobs Act of 2010. The proposed regulations would affect any taxpayer who fails to properly disclose participation in a reportable transaction.”

Minimum Value of Eligible Employer-Sponsored Health Plans

Prop regs

REG–143800–14 (9/1/15)

36B

“This document withdraws, in part, a notice of proposed rulemaking published on May 3, 2013, relating to the health insurance premium tax credit enacted by the Affordable Care Act (including guidance on determining whether health coverage under an eligible employer-sponsored plan provides minimum value) and replaces the withdrawn portion with new proposed regulations providing guidance on determining whether health coverage under an eligible employer-sponsored plan provides minimum value. The proposed regulations affect participants in eligible employer-sponsored health plans and employers that sponsor these plans.”

 With this change:

“§ 1.36B–6 Minimum value.

(a) In general. An eligible employer-sponsored plan provides minimum value (MV) only if—

  (1) The plan’s share of the total allowed costs of benefits provided to an employee (the MV percentage) is at least 60 percent; and

  (2) The plan provides substantial coverage of inpatient hospital services and physician services.”

Determination of Minimum Required Pension Contributions

Final regs

TD 9732 (9/9/15)

430

436

4971

“final regulations providing guidance on the determination of minimum required contributions for single-employer defined benefit pension plans. In addition, this document contains final regulations regarding the excise tax for failure to satisfy the minimum funding requirements for defined benefit pension plans. These regulations affect sponsors, administrators, participants, and beneficiaries of defined benefit pension plans.”

U.S. Property Held by Controlled Foreign Corporations in Transactions Involving Partnerships; Rents and Royalties Derived in the Active Conduct of a Trade or Business

Final and temp regs

Prop regs

TD 9733 (9/2/15)

REG-155164-09 (9/2/15)

954

956

“ temporary regulations regarding the treatment as United States property of property held by a controlled foreign corporation (CFC) in connection with certain transactions involving partnerships. In addition, the temporary regulations provide rules regarding when a CFC is considered to derive rents and royalties in the active conduct of a trade or business for purposes of determining foreign personal holding company income (FPHCI). These regulations affect United States shareholders of CFCs.”

Correction – FR 66415 (10/29/15)

Correction – FR 66416 (10/29/15)

Correction – FR 66485 (10/29/15)

Dividend Equivalents from Sources within the United States

Final and temp regs

Prop regs

TD 9734 (9/18/15)

REG-127895-14 (9/18/15)

871

1441

1461

1473

“provides guidance to nonresident alien individuals and foreign corporations that hold certain financial products providing for payments that are contingent upon or determined by reference to U.S. source dividend payments. This document also provides guidance to withholding agents that are responsible for withholding U.S. tax with respect to a dividend equivalent.”

Correction – FR 75946 (12/7/15)

Correction – FR 75956 (12/7/15)

Administration of Multiemployer Plan Participant Vote on an Approved Suspension of Benefits under MPRA

Temp regs

Prop regs

TD 9735 (9/2/15)

REG-123640-15 (9/2/15)

432

“The Multiemployer Pension Reform Act of 2014 (MPRA) pertains to multiemployer plans that are projected to have insufficient funds, at some point in the future, to pay the full plan benefits to which individuals will be entitled (referred to as plans in ‘‘critical and declining status’’). The sponsor of such a plan is permitted to reduce the pension benefits payable to plan participants and beneficiaries if certain conditions are satisfied (referred to as a ‘‘suspension of benefits’’). A suspension of benefits is not permitted to take effect prior to a vote of the participants of the plan with respect to the suspension. This document contains temporary regulations that provide guidance relating to the administration of that vote. These temporary regulations affect active, retired, and deferred vested participants and beneficiaries of multiemployer plans that are in critical and declining status as well as employers contributing to, and sponsors and administrators of, those plans.”

Integrated Hedging Transactions of Qualifying Debt

Final regs and removal of temp regs

TD 9736 (9/8/15)

988

“final regulations that address certain integrated transactions that involve a foreign currency denominated debt instrument and multiple associated hedging transactions. The regulations provide that if a taxpayer has identified multiple hedges as being part of a qualified hedging transaction, and the taxpayer has terminated at least one but less than all of the hedges (including a portion of one or more of the hedges), the taxpayer must treat the remaining hedges as having been sold for fair market value on the date of disposition of the terminated hedge.”

Imposition of Tax on Certain Gifts and Bequests from Covered Expatriates

Prop regs

REG-112997-10 (9/10/15)

2801

6001

6011

6060

6071

6081

6091

6101

6107

6109

6151

6694

6695

6696

7701

“proposed regulations relating to a tax on United States citizens and residents who receive gifts or bequests from certain individuals who relinquished United States citizenship or ceased to be lawful permanent residents of the United States on or after June 17, 2008. These proposed regulations affect taxpayers who receive covered gifts or covered bequests on or after the date these regulations are published as final regulations in the Federal Register.”

Controlled Group Regulation Examples

Final regs

TD 9737 (9/15/15)

851

“final rules with revisions to examples that illustrate the controlled group rules applicable to regulated investment companies (RICs). The revised examples illustrate how the controlled group rules affect the RIC asset diversification tests.”

Correction – FR 60293 (10/6/15)

Coordination of Transfer Pricing Rules with Other Code Provisions

Treatment of Certain Transfers of Property to Foreign Corporations

Final and temp regs

TD 9738 (9/16/15)

REG-139483-13 (9/16/15)

482

Temp: “temporary regulations that clarify the coordination of the application of the arm’s length standard and the best method rule under section 482.”

Temp and Prop: “proposed regulations relating to certain transfers of property by United States persons to foreign corporations. The proposed regulations affect United States persons that transfer certain property, including foreign goodwill and going concern value, to foreign corporations in nonrecognition transactions described in section 367. The proposed regulations also combine portions of the existing regulations under section 367(a) into a single regulation. In addition, in the Rules and Regulations section of this issue of the Federal Register, temporary regulations are being issued under section 482 to clarify the coordination of the transfer pricing rules with other Code provisions.”

Correction – FR 68288 (11/4/15)

Substantiation Requirement for Certain Contributions

NOTE - the IRS withdrew this proposed regulation on 1/8/16.

Prop regs

REG-138344-13 (9/17/15)

170

“proposed regulations to implement the exception to the ‘‘contemporaneous written acknowledgement’’ requirement for substantiating charitable contribution deductions of $250 or more. These proposed regulations provide rules concerning the time and manner for donee organizations to file information returns that report the required information about contributions (donee reporting).”

WITHDRAWN – FR 882 (1/8/16) – IRS received over 1,000 comment letters questioning the need for this regulation and concerns over disclosure of taxpayer ID numbers.

Qualification of a Transaction as a Corporate Reorganization, etc.

Final regs and removal of temp regs

TD 9739 (9/21/15)

269B

367

368

381

“final regulations that provide guidance regarding the qualification of a transaction as a corporate reorganization under section 368(a)(1)(F) by virtue of being a mere change of identity, form, or place of organization of one corporation (F reorganization). This document also contains final regulations relating to F reorganizations in which the transferor corporation is a domestic corporation and the acquiring corporation is a foreign corporation (an outbound F reorganization). These regulations will affect corporations engaging in transactions that could qualify as F reorganizations (including outbound F reorganizations) and their shareholders.”

 Effective on 9/21/15.

Correction  - FR 76205 (12/8/15)

Reliance Standards for Making Good Faith Determinations

Final regs

TD 9740 (9/25/15)

4942

4945

“final regulations regarding the standards for making a good faith determination that a foreign organization is a charitable organization that is not a private foundation, so that grants made to that foreign organization may be qualifying distributions and not taxable expenditures. The regulations also make additional changes to conform the final regulations to statutory amendments made by the Deficit Reduction Act of 1984 and the Pension Protection Act of 2006. The regulations will affect private foundations seeking to make good faith determinations.”

Definition of Terms Relating to Marital Status

Prop regs

REG-148998-13 (10/23/15)

7701

“proposed regulations that reflect the holdings of Obergefell v. Hodges, 576 U.S. __, 135 S. Ct. 2584 (2015), Windsor v. United States, 570 U.S. __, 133 S. Ct. 2675 (2013), and Revenue Ruling 2013– 17 (2013–38 IRB 201), and that define terms in the Internal Revenue Code (Code) describing the marital status of taxpayers. The proposed regulations primarily affect married couples, employers, sponsors and administrators of employee benefit plans, and executors.”

General Allocation and Accounting Regulations Under Section 141; Remedial Actions for Tax-Exempt Bonds

Final regs

TD 9741 (10/27/15)

141

145

150

“final regulations on allocation and accounting, and certain remedial actions, for purposes of the private activity bond restrictions under section 141 that apply to tax-exempt bonds issued by State and local governments. The final regulations provide State and local governmental issuers of tax-exempt bonds with guidance for applying the private activity bond restrictions.”

 The IRS also issued a notice withdrawing portions of proposed rules published on 9/26/06 (FR 65670).

 Correction – FR 74678 (11/30/15)

 Correction – FR 74677 (11/30/15)

Preparer Tax Identification Number User Fee Update

Temp and prop regs

TD 9742 (10/30/15)

REG-121496–15 (10/30/15)

300.13T

“temporary regulations relating to the imposition of certain user fees on tax return preparers. The temporary regulations reduce the user fee to apply for or renew a preparer tax identification number (PTIN) and affect individuals who apply for or renew a PTIN. The Independent Offices Appropriations Act of 1952 authorizes the charging of user fees.”

 Lowers the PTIN fee (including the vendor processing fee) from $64.25 to $50. Effective 10/30/15.

Hybrid Retirement Plans: Market Rate of Return

Final regs

TD 9743 (11/16/15)

411

“final regulations that provide guidance regarding certain amendments to applicable defined benefit plans. Applicable defined benefit plans are defined benefit plans that use a lump sum-based benefit formula, including cash balance plans and pension equity plans, as well as other plans that have formulas with an effect similar to a lump sum-based benefit formula. These final regulations relate to previously issued final regulations that specify permitted interest crediting rates for purposes of the requirement that an applicable defined benefit plan not provide for interest credits (or equivalent amounts) at an effective rate that is greater than a market rate of return. These final regulations permit a plan sponsor of an applicable defined benefit plan that does not comply with the market rate of return requirement to amend the plan in order to change to an interest crediting rate that is permitted under the previously issued final hybrid plan regulations without violating the anti-cutback rules of section 411(d)(6). These regulations affect sponsors,

administrators, participants, and beneficiaries of these plans.”

 Effective 11/16/15.

Grandfathered Plans, Preexisting Condition Exclusions, Lifetime and Annual Limits, Rescissions, Dependent Coverage, Appeals, and Patient Protections Under the affordable Care Act

ACA

Final rules

TD 9744 (11/18/15)

9801

9815

“final regulations regarding grandfathered health plans, preexisting condition exclusions, lifetime and annual dollar limits on benefits, rescissions, coverage of dependent children to age 26, internal claims and appeal and external review processes, and patient

protections under the Affordable Care Act. It finalizes changes to the proposed and interim final rules based on comments and incorporates subregulatory guidance issued since publication of the proposed and interim final rules.”

 Effective 1/19/16.

Relief from Joint and Several Liability

Prop regs

REG–134219–08 (11/20/15)

66

6015

“proposed regulations relating to relief from joint and several liability under section 6015. The regulations reflect changes in the law made by the Tax Relief and Health Care Act of 2006 as well as changes in the law arising from litigation. The regulations provide guidance to married individuals who filed joint returns and later seek relief from joint and several liability.”

 Correction – FR 1592 (1/13/16).

Minimum Value of Eligible Employer-Sponsored Plans and Other Rules Regarding the Health Insurance Premium Tax Credit

ACA

Final regs

TD 9745 (12/18/15)

36B

6011

“final regulations on the health insurance premium tax credit enacted by the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010, as amended by the Medicare and Medicaid Extenders Act of 2010, the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011, and the Department of Defense and Full- Year Continuing Appropriations Act, 2011. These final regulations affect individuals who enroll in qualified health plans through Affordable Insurance Exchanges (Exchanges, sometimes called Marketplaces) and claim the health insurance premium tax credit, and Exchanges that make qualified health plans available to individuals and employers.”

  Effective 12/18/15.

  Correction – FR 2088 (1/15/16).

Payout Requirements for Type III Supporting Organizations That are Not Functionally Integrated

Final regs

Removal of temp regs

TD 9746 (12/23/15)

509

“final regulations regarding the distribution requirement for non-functionally integrated Type III supporting

organizations. The regulations reflect changes to the law made by the Pension Protection Act of 2006. The regulations will affect non-functionally integrated Type III supporting organizations and their supported organizations.”

Country-by-Country Reporting

Prop regs

REG-109822-15 (12/23/15)

6038

“proposed regulations that would require annual country-by-country reporting by United States persons (U.S. persons) that are the ultimate parent entity of a multinational enterprise (MNE) group. These proposed regulations affect U.S. persons that are the ultimate parent entity of an MNE group that has annual revenue for the preceding annual accounting period of $850,000,000 or more. This document invites comments from the public on all aspects of the proposed rules and provides the opportunity for the public to request a public hearing.”

  Correction – FR 9122 (2/24/16).