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.

Announcement 2004-26(PDF, 203K)
This document contains the annual report to the public concerning Advance Pricing Agreements (APAs) and the experience of the APA program during calendar year 2003. This document does not provide guidance regarding the application of the arm�s length standard; rather, it reports on the structure and activities of the APA program.

Announcement 2004-29(PDF, 26K)
The definition of tax shelter opinion for purposes of section 10.35 of Treasury Department Circular No. 230 (31 CFR part 10) will not apply, if at all, to written advice concerning municipal bonds rendered less than 120 days after the publication of the final regulations in the Federal Register.

INCOME TAX

Notice 2004-23(PDF, 60K)
This notice provides a safe harbor for preventive care benefits allowed to be provided by a high deductible health plan (HDHP) under section 223(c)(2) of the Code.

Notice 2004-25(PDF, 49K)
This notice provides transition relief from the rule in Notice 2004-2, 2004-2 I.R.B. 269, Q&A 26, that a Health Savings Account (HSA) must pay or reimburse on a tax-free basis only qualified medical expenses incurred after the HSA has been established. The notice provides that for calendar year 2004, an HSA established on or before April 15, 2005, may pay or reimburse otherwise qualified medical expenses on a tax-free basis if the expenses were incurred on or after the later of (1) January 1, 2004, or (2) the first day of the first month the taxpayer became eligible to establish an HSA. Notice 2004-2 modified.

T.D. 9118(PDF, 84K)
REG-153172-03(PDF, 59K)
Final, temporary, and proposed regulations under section 337 of the Code clarify that in computing the amount of stock loss attributable to the recognition of built-in gain, gain recognized on the disposition of an asset may be reduced by expenses directly attributable to the recognition of that gain. These regulations also clarify that a worthless stock deduction in stock of a member of a consolidated group results in the elimination of that member�s apportioned losses only if, following the year in which the worthless stock deduction is claimed, the member has no separate return year. The regulations further clarify that stock of a member of a consolidated group may be treated as worthless, provided it otherwise qualifies for such treatment under the Code immediately prior to the time that the subsidiary ceases to be a member of the group.

T.D. 9117(PDF, 74K)
REG-167265-03(PDF, 191K)
Final, temporary, and proposed regulations under section 1502 of the Code, as applied under sections 108 and 1245, govern the timing of certain basis adjustments when a member of a consolidated group realizes discharge of indebtedness income that is excluded from gross income and the reduction of attributes when there is excluded income. In addition, the regulations govern the timing and calculations of certain basis adjustments to prevent circular basis adjustments on the disposition of stock of a group member.

Rev. Proc. 2004-22(PDF, 57K)
This procedure provides transition relief from Rev. Rul. 2004-38 for determining an "eligible individual" under section 223 of the Code who may make contributions to a Health Savings Account (HSA). The transition relief covers the months before January 1, 2006, in the case of an individual who is covered by both a high deductible health plan (HDHP) and by a separate plan or rider that provides prescription drug benefits before the minimum annual deductible of the HDHP is satisfied. Rev. Rul. 2004-38 modified.

Rev. Rul. 2004-38(PDF, 51K)
Health Savings Accounts (HSAs). This ruling provides that if an individual is covered by both a high deductible health plan (HDHP) that does not cover prescription drugs and by a separate prescription drug plan (or rider) that provides benefits before the minimum annual deductible of the HDHP has been satisfied, that individual is not an eligible individual under section 223(c)(1)(A) of the Code and may not make contributions to a Health Savings Account.

Rev. Rul. 2004-40(PDF, 60K)
Low-income housing credit; satisfactory bond; "bond factor" amounts for the period April through June 2004. This ruling announces the monthly bond factor amounts to be used by taxpayers who dispose of qualified low-income buildings or interests therein during the period April through June 2004.

Announcement 2004-25(PDF, 109K)
A list is provided of organizations now classified as private foundations.