The Nineteenth Annual Institute on Current Issues in International
Taxation, jointly sponsored by the Internal Revenue Service
and the George Washington University Law School, will be
held on December 14 and 15, 2006, at the Grand Hyatt Washington
Hotel in Washington, DC.
Proposed regulations under section 987 of the Code provide
guidance regarding the determination of the items of income
or loss of a taxpayer with respect to a section 987 qualified
business unit (QBU) as well as the timing, amount, character,
and source of any section 987 gain or loss. A public hearing
is scheduled for November 21, 2006.
Electricity produced from certain renewable resources;
open-loop biomass. This notice sets forth interim guidance,
pending the issuance of regulations, regarding the credit for
electricity produced from open-loop biomass.
Extension of replacement period for livestock sold on
account of drought. This notice explains the circumstances
under which the 4-year replacement period under section
1033(e)(2) of the Code is extended for livestock sold on
account of drought. The Appendix to this notice contains
a list of counties that experienced exceptional, extreme, or
severe drought conditions during the preceding 12 months.
Taxpayers may use this list to determine if an extension is
The IRS has revoked its determination that National Credit
Counseling Services, Inc., of Orlando, FL, and San Francisco
League of Urban Gardeners of San Francisco, CA, qualify as
organizations described in sections 501(c)(3) and 170(c)(2) of
A list is provided of organizations now classified as private foundations.
This notice announces a delay in the effective date of new
user fee charges for processing Form 8802, Application for
United States Residency Certification. The new user fee will be
charged for all Forms 8802 received with a postmark date on
or after November 1, 2006. Rev. Proc. 2006-35 modified.
Rev. Proc. 2006-40(HTML)
This document provides procedures for an issuer of tax-exempt
bonds to request an administrative appeal to the Office
of Appeals from a proposed adverse determination by the Service's
Office of Tax Exempt Bonds to the effect that an issue
of bonds fails to qualify for the exclusion of the interest on
the bonds from the gross income of the owners under section
103 of the Code. The document also provides procedures for
an issuer of tax-exempt bonds to request such an administrative
appeal from a denial by TEB of a claim for recovery of an
asserted overpayment of arbitrage rebate under section 148.
Rev. Proc. 99-35 modified and superseded.
This announcement contains updates and clarifications to Publication
1220 (Rev. Proc. 2006-33, 2006-32 I.R.B. 140) for
tax year 2006 filing of information returns.
This document announces the establishment of the Income Verification
Express Service (IVES) program. The IVES program
is a new electronic delivery service for IRS transcripts and
records available upon submission of IRS Form 4506-T, Request
for Transcript of Tax Return.
This document contains corrections to final regulations
(T.D. 9280, 2006-38 I.R.B. 450) that provide certain issues
under section 411(d)(6) of the Code, including the interaction
between the anti-cutback rules of section 411(d)(6) and the
nonforfeitability requirements of section 411(a).
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