Internal Revenue Bulletins  

December 02, 2002

Internal Revenue Bulletin No. 2002-48

Links to Official IRS Bulletin Documents listed below are in the Adobe Acrobat PDF Format, and require the appropriate Acrobat Reader to view and/or print.

INCOME TAX

T.D. 9020(PDF, 22K)
REG-141832-02(PDF, 23K)
Substantiation of incidental expenses. Final, temporary, and proposed regulations under section 274 of the Code authorize the Commissioner to establish a method under which a taxpayer may substantiate the amount of incidental expenses paid or incurred while traveling away from home by means of an allowance in lieu of substantiating the actual cost.

T.D. 9022(PDF, 53K)
REG-143321-02(PDF, 22K)
Temporary and proposed regulations under section 6043(c) of the Code require information reporting by a corporation if there is an acquisition of control of the corporation or a substantial change in the corporation's capital structure. The regulations require the corporation to file a form reporting the event and to file Forms 1099 with respect to amounts distributed to shareholders. These regulations also require brokers who receive a Form 1099 as the record holder of stock, pursuant to section 6043(c) regulations, to file a Form 1099 with respect to the actual owner of the stock. A public hearing on the proposed regulations is scheduled for March 5, 2003.

Rev. Rul. 2002-78(PDF, 17K)
CPI adjustment for below-market loans for 2003. The amount that section 7872(g) of the Code permits a taxpayer to lend to a qualified continuing care facility without incurring imputed interest is published and adjusted for inflation for years 1987-2003. Rev. Rul. 2001-64 supplemented and superseded.

Rev. Rul. 2002-79(PDF, 21K)
Section 1274A inflation-adjusted numbers for 2003. This ruling provides the dollar amounts, increased by the 2003 inflation adjustment, for section 1274A of the Code. Rev. Rul. 2001-65 supplemented and superseded.

EXEMPT ORGANIZATIONS

Announcement 2002-107(PDF, 22K)
A list is provided of organizations now classified as private foundations.

EMPLOYMENT TAX

Notice 2002-78(PDF, 17K)
This notice provides tables that show the amount of an individual's income that is exempt from a notice of levy used to collect delinquent tax in 2003.

ADMINISTRATIVE

Notice 2002-76(PDF, 25K)
Gross income; disaster relief payments. This notice provides answers to frequently asked questions regarding the tax treatment of Residential Grant Program grants the Lower Manhattan Development Corporation makes to individuals and families who occupy rental units or owner-occupied units in areas near the site of the September 11, 2001, attack on the World Trade Center.

T.D. 9022(PDF, 53K)
REG-143321-02(PDF, 22K)
Temporary and proposed regulations under section 6043(c) of the Code require information reporting by a corporation if there is an acquisition of control of the corporation or a substantial change in the corporation's capital structure. The regulations require the corporation to file a form reporting the event and to file Forms 1099 with respect to amounts distributed to shareholders. These regulations also require brokers who receive a Form 1099 as the record holder of stock, pursuant to section 6043(c) regulations, to file a Form 1099 with respect to the actual owner of the stock. A public hearing on the proposed regulations is scheduled for March 5, 2003.

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