IRS Promulgations 2003

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Disclaimer for all except securities related articles

This is a listing of IRS rules issued for 2003. (Not included are many other IRS promulgations which might or might not affect your decisions or reporting - examples are News Releases, General Counsel Memoranda, and other public notices)

Announcements

New Additions - Bulletin 39

Rev. Rul. 2003-104 (IRB 2003-39) Interest rates on under- and overpayments of tax; fourth quarter beginning October 1, 2003.

Announcement 2003-56 (IRB 2003-39) Reporting changes; capital gains; partnerships; S corporations; estates; trusts.

For the full text of these rulings, go to Internal Revenue Bulletin 2003-39.

Cumulative Listings - 2003

Revenue Rulings

Rev. Rul. 2003-104 (IRB 2003-39) Interest rates on under- and overpayments of tax; fourth quarter beginning October 1, 2003.
Rev. Rul. 2003-103 (IRB 2003-38) LIFO Price indexes, July, 2003.
Rev. Rul. 2003-102 (IRB 2003-38) Self-insured medical reimbursement plans; nonprescription medicines; over-the-counter drugs; exclusion from gross income; Rev. Rul. 2003-58 distinguished.
Rev. Rul. 2003-89 (IRB 2003-37) Fringe benefit aircraft valuation formula; SIFL; Standard Industry Fare Level; noncommercial flights.
Rev. Rul. 2003-100 (IRB 2003-34) LIFO Price indexes, June, 2003.
Rev. Rul. 2003-99 (IRB 2003-34) Obsolete rulings; list of previous rulings no longer determinative.
Rev. Rul. 2003-98 (IRB 2003-34) Sec. 83(h); compensatory stock options; deduction rules following certain corporate transactions.
Rev. Rul. 2003-97 (IRB 2003-34) Sec. 163; deductibility of interest; corporation issues units consisting of a note and forward contract to purchase corporation's common stock.
Rev. Rul. 2003-96 (IRB 2003-34) Sec. 482; application of allocation of income and deductions arising from lease stripping transactions; unrelated parties; arbitrary income shifting.
Rev. Rul. 2003-95 (IRB 2003-33) Sec. 7702; Life insurance contracts; distributions made in connection with a change in benefits; tax consequences of cash distribution in connection with a reduction in benefits of life insurance contract.
Rev. Rul. 2003-92 (IRB 2003-33) Variable contract holder; interests in nonregistered partnership; life insurance; annuity contract; Rev. Rul. 81-225 clarified and amplified.
Rev. Rul. 2003-91 (IRB 2003-33) Investor control doctrine; variable contract holder; segregated assets; safe harbor.
Rev. Rul. 2003-90 (IRB 2003-33) Accrual of liability for California franchise tax; taxable year following the taxable year in which the tax is incurred; Rev. Rul. 79-410 amplified.
Rev. Rul. 2003-76 (IRB 2003-33) Sec. 1035; 72; 1031; Exchange portion of an annuity; tax-free exchange; investment in contract; basis; cash value immediately prior to the exchange.
Rev. Rul. 2003-72 (IRB 2003-33) Sec. 21; 23; 24; 32; 129; 131; 137; 151; Determination of a child's specific age; child and dependent care credit; adoption credit; child tax credit; excludable dependent care benefits; excludable foster care benefits; excludable adoption assistance benefits; dependency exemptions.
Rev. Rul. 2003-88 (IRB 2003-32) Sec. 4971; running of statute of limitations; filing Form 5330 not Form 5500 starts limitations period for excise tax.
Rev. Rul. 2003-85 (IRB 2003-32) Excise tax; terminating defined benefit plan; reversion; defined contribution plan.
Rev. Rul. 2003-83 (IRB 2003-30) Minimum funding; entry age normal; reasonableness; Sec. 412(c)(3).
Rev. Rul. 2003-82 (IRB 2003-30) Tertiary injectant expenses; Sec. 43; oil recovery credit.
Rev. Rul. 2003-81 (IRB 2003-30) Depreciation of assets; asset class; assets of utility; Rev. Proc. 2002-9 modified and amplified.
Rev. Rul. 2003-87 (IRB 2003-29) LIFO Price indexes, May, 2003.
Rev. Rul. 2003-80 (IRB 2003-29) Sec. 6501; 6503(a); statute of limitations; bankruptcy; assessment period suspended.
Rev. Rul. 2003-79 (IRB 2003-29) Sec. 355; reverse Morris trust; substantially all requirement; Sec. 368(a)(1)(C); newly formed controlled corporation.
Rev. Rul. 2003-75 (IRB 2003-29) Sec. 355; separation of business; capital allocation problem.
Rev. Rul. 2003-74 (IRB 2003-29) Sec. 355; separation of business; same corporate group; concentrate on own business; business requirement.
Rev. Rul. 2003-73 (IRB 2003-28) Sec. 277; membership organizations; allowable deductions for providing goods and services to members.
Rev. Rul. 2003-70 (IRB 2003-27) Small employer plan exception; COBRA; continuation coverage requirements in mergers and acquisitions; more than 20 employees.
Rev. Rul. 2003-68 (IRB 2003-26) LIFO Price indexes, April, 2003.
Rev. Rul. 2003-67 (IRB 2003-26) Obsolete revenue rulings list.
Rev. Rul. 2003-65 (IRB 2003-25) Frozen plan; additional accruals; vesting service; plan termination; years of service; merged into new plan.
Rev. Rul. 2003-64 (IRB 2003-25) Sec. 511(a)(2)(A); Unrelated business taxable income; social club; credit under Sec. 45B; employer social security taxes paid with respect to employee tips.
Rev. Rul. 2003-63 (IRB 2003-25) Interest rates on under- and overpayments of tax; third quarter beginning July 1, 2003.
Rev. Rul. 2003-62 (IRB 2003-25) Taxability of distributions from employee's trusts; qualified retirement plan; distributions to pay health insurance premiums under cafeteria plan; reimbursement of medical care expenses.
Rev. Rul. 2003-61 (IRB 2003-24) Sec. 303; 2057; Taxation of qualified family-owned business interest; QFOBI; distribution in redemption of stock; estate eligibility to make QFOBI election.
Rev. Rul. 2003-59 (IRB 2003-24) Cost-share payments; Conservation Reserve Program; CRP; small watershed program; Sec. 126; exclusion from gross income; rental and incentive payments not excludable.
Rev. Rul. 2003-56 (IRB 2003-23) Like-kind exchanges; Sec. 752; Sec. 1031; minimum gain rules.
Rev. Rul. 2003-54 (IRB 2003-23) Depreciation; gasoline pump canopies; concrete footings; Rev. Rul. 68-345 obsoleted; Rev. Proc. 2002-9 modified and amplified.
Rev. Rul. 2003-58 (IRB 2003-22) Medical expenses; medicines purchased without a prescription not deductible; purchase of equipment or diagnostic devices without a prescription may be deductible.
Rev. Rul. 2003-57 (IRB 2003-22) Medical expenses; cosmetic vs. functional; breast reconstruction surgery; vision correction surgery; teeth whitening.
Rev. Rul. 2003-55 (IRB 2003-22) Spin off; business purpose requirement; unable to complete stock offering that motivated the distribution.
Rev. Rul. 2003-53 (IRB 2003-22) Special use value; farms; interest rates; Sec. 2032A.
Rev. Rul. 2003-52 (IRB 2003-22) Spin off; business purpose requirement; distribution to managing shareholders; estate planning; Sec. 1.355-2(b).
Rev. Rul. 2003-51 (IRB 2003-21) Transfer to corporation; control requirement under Section 351; successive transfers of property and stock; Rev. Ruls. 70-140, 70-522, 79-70, and 79-194 distinguished.
Rev. Rul. 2003-50 (IRB 2003-21) LIFO Price indexes, March, 2003.
Rev. Rul. 2003-43 (IRB 2003-21) Health plans; debit and credit cards to reimburse participants in self-insured medical reimbursement plans. Rev. Rul. 2002-80 distinguished.
Rev. Rul. 2003-49 (IRB 2003-20) Reporting requirements Section 527 organizations; political organizations; Rev. Rul. 2000-49 modified and superseded.
Rev. Rul. 2003-47 (IRB 2003-19) Sec. 457(e)(11)(A)(ii); length-of-service award program; LOSAP.
Rev. Rul. 2003-46 (IRB 2003-19) Sec. 3121(b)(7)(F); continuing employment exception to Medicare portion of FICA; service performed by government employee; Rev. Ruls. 86-88 and 88-36 supplemented.
Rev. Rul. 2003-36 (IRB 2003-18) Sec. 6903; 6015; executors; relief from joint and several liability; request for relief on behalf of decedent; person acting for another person in fiduciary capacity assumes the rights of that person.
Rev. Rul. 2003-41 (IRB 2003-17) Sec. 7503; 6511; time for filing a timely claim for refund when last day for filing return falls on Saturday, Sunday, legal holiday.
Rev. Rul. 2003-40 (IRB 2003-17) Estate tax; taxation of life insurance; Louisiana decedent; transfer of ownership; community property.
Rev. Rul. 2003-38 (IRB 2003-17) Sec. 355; website by retail sales store expansion of existing business vs. new or different business.
Rev. Rul. 2003-42 (IRB 2003-16) LIFO Price indexes, February, 2003.
Rev. Rul. 2003-37 (IRB 2003-15) Capital expenditures; rotable spare parts; depreciable assets.
Rev. Rul. 2003-32 (IRB 2003-14) Scholarship grants; employer-related private foundations; Sec. 117.
Rev. Rul. 2003-33 (IRB 2003-13) LIFO Price indexes, January, 2003.
Rev. Rul. 2003-31 (IRB 2003-13) Constructive sales; short sale; transition rule; Sec. 1.1233-1(a)(4); short-against-the-box.
Rev. Rul. 2003-30 (IRB 2003-13) Interest rates; underpayments; overpayments; second quarter of 2003.
Rev. Rul. 2003-25 (IRB 2003-13) Fringe benefits aircraft valuation formula; Standard Industry Fare Level; SIFL cents.
Rev. Rul. 2003-29 (IRB 2003-11) Election in respect of losses attributable to a disaster; list of areas declared by the President as major disaster in 2002.
Rev. Rul. 2003-28 (IRB 2003-11) Charitable contributions; patents; deduction; retention of substantial right; conditional reversion; transfer restriction.
Rev. Rul. 2003-27 (IRB 2003-11) Employee stock ownership plan; ESOP; basis adjustments of S corporation stock.
Rev. Rul. 2003-23 (IRB 2003-8) Estimated tax penalty safe harbor; late filed return preceding year.
Rev. Rul. 2003-21 (IRB 2003-8) LIFO Price indexes, December, 2002.
Rev. Rul. 2003-20 (IRB 2003-7) New markets tax credit; qualified equity investment; limited liability company; LLC; nonrecourse loan.
Rev. Rul. 2003-19 (IRB 2003-7) Insurance company demutalization; mutual insurance company conversion to stock company; tax consequences.
Rev. Rul. 2003-18 (IRB 2003-7) Sec. 355; expansion of business or acquisition of new or different business; auto dealer adding brand; Sec. 1.355-3(b)(3)(ii); Rev. Rul. 57-190 obsoleted.
Rev. Rul. 2003-7 (IRB 2003-5) Actual and constructive sales; Sec. 1001; Sec. 1259; shareholder receives a fixed amount of cash enters into contract to deliver shares on a future date; right of substitution.
Rev. Rul. 2003-15 (IRB 2003-4) Cost-share payments; AMA; Agricultural Management Assistance Program; Sec. 126; exclusion from gross income.
Rev. Rul. 2003-14 (IRB 2003-4) Cost-share payments; SWCA; Soil and Water Conservation Assistance Program; Sec. 126; exclusion from gross income.
Rev. Rul. 2003-9 (IRB 2003-4) LIFO Price indexes, November, 2002.
Rev. Rul. 2003-11 (IRB 2003-3) Limitation on annual compensation; allowable compensation; nondiscrimination.
Rev. Rul. 2003-12 (IRB 2003-3) Gross income; gifts; disaster relief payments; amounts paid by a state agency, charity, employer to reimburse for certain expenses; Presidentially declared disaster area; Rev. Rul. 53-131 modified.
Rev. Rul. 2003-10 (IRB 2003-3) Accrual of gross income; customer disputes liability; mistake in sales invoice.
Rev. Rul. 2003-8 (IRB 2003-3) Costa Rican income tax; withholding taxes; noncreditable.
Rev. Rul. 2003-6 (IRB 2003-3) Employee stock ownership plans; delayed effective date; abuse; ESOP.
Rev. Rul. 2003-1 (IRB 2003-3) Constructive sales; reestablished positions; Sec. 1259(c)(3)(A).
Rev. Rul. 2003-3 (IRB 2003-2) Accrual of income; state tax refunds; local income or franchise tax; Rev. Ruls. 65-190 and 69-372 revoked; Rev. Proc. 2002-9 modified and amplified.

Revenue Procedures

Rev. Proc. 2003-72 (IRB 2003-38) EP determination letters; extension of application deadline for certain pre-approved plans; Rev. Procs. 2000-20, 2002-29, and 2003-44 modified.
Rev. Proc. 2003-71 (IRB 2003-36) Procedure for submitting offer in compromise; form and content of offer; offer accepted; Rev. Proc. 96-38 obsoleted.
Rev. Proc. 2003-68 (IRB 2003-34) Options; safe harbor valuation; expected term; recalculate options under certain conditions; Rev. Procs. 2002-13 and 2002-45 revoked.
Rev. Proc. 2003-64 (IRB 2003-32) Final withholding foreign partnership (WP); withholding foreign trust(WT) agreements; Notice 2001-4 superseded; Rev. Proc. 2000-12 modified.
Rev. Proc. 2003-63 (IRB 2003-32) Sec. 167; 168; Depreciation of cable television distribution systems; node and fiber optic cable; Rev. Proc. 2002-9 modified and amplified.
Rev. Proc. 2003-62 (IRB 2003-32) Sec. 442; Changes in accounting period; automatic approval for individuals; Rev. Proc. 66-50 and 81-40 modified and superseded.
Rev. Proc. 2003-61 (IRB 2003-32) Sec. 66(c); 6015(f); community income; innocent spouse relief; Rev. Proc. 2000-15 superseded.
Rev. Proc. 2003-60 (IRB 2003-31) Sample testamentary charitable remainder annuity trust; CRAT; with concurrent and consecutive interests for two measuring lives.
Rev. Proc. 2003-59 (IRB 2003-31) Sample testamentary charitable remainder annuity trust; CRAT; with consecutive interests for two measuring lives.
Rev. Proc. 2003-58 (IRB 2003-31) Sample testamentary charitable remainder annuity trust; CRAT; for a term of years.
Rev. Proc. 2003-57 (IRB 2003-31) Sample testamentary charitable remainder annuity trust; CRAT; one measuring life.
Rev. Proc. 2003-56 (IRB 2003-31) Sample inter vivos charitable remainder annuity trust; CRAT; concurrent and consecutive interests for two measuring lives.
Rev. Proc. 2003-55 (IRB 2003-31) Sample inter vivos charitable remainder annuity trust; CRAT; consecutive interests for two measuring lives.
Rev. Proc. 2003-54 (IRB 2003-31) Sample inter vivos charitable remainder annuity trust; CRAT; one measuring life.
Rev. Proc. 2003-53 (IRB 2003-31) Sample inter vivos charitable remainder annuity trust; CRAT; term of years annuity period.
Rev. Proc. 2003-51 (IRB 2003-29) Inventories; fair market value determinations; inventory items acquired on purchase of assets of business for lump sum; acquisition of stock made pursuant to Sec. 338 election; Rev. Proc. 77-12 amplified, modified, and superseded.
Rev. Proc. 2003-50 (IRB 2003-29) 30% additional first year depreciation; additional time to deduct, or elect not to deduct; automatic extension; Section 179 expense election; New York Liberty Zone property; Rev. Procs. 2002-9 and 2002-33 amplified and modified.
Rev. Proc. 2003-48 (IRB 2003-29) Sec. 355; update of Sec. 355 checklist questionnaire; Rev. Proc. 96-30 modified and amplified; Rev. Proc. 2003-2 modified.
Rev. Proc. 2003-45 (IRB 2003-27) LIFO; methods of accounting; automatic consent; invetory price index computation; Rev. Proc. 2002-9 modified.
Rev. Proc. 2003-44 (IRB 2003-25) Correction programs; retirement plans; administrative programs; Rev. Proc. 2002-47 modified and superseded.
Rev. Proc. 2003-41 (IRB 2003-25) Fast Track Mediation program; FTM; expedite case resolution.
Rev. Proc. 2003-40 (IRB 2003-25) Fast Track Settlement program; FTS; expedite case resolution.
Rev. Proc. 2003-38 (IRB 2003-24) Commercial revitalization deduction; rehabilitated building placed in service in renewal community; allocation by state; election to recover cost using more accelerated method.
Rev. Proc. 2003-43 (IRB 2003-23) Late S corporation elections; Electing Small Business Trust; ESBT; Qualified Subchapter S Trust; QSST; Qualified Subschapter S Subsidiary; QSub; Rev. Proc. 98-55 superseded.
Rev. Proc. 2003-42 (IRB 2003-23) Sample QPRT; qualified personal residence trust; sample declaration of trust; Sec. 2702.
Rev. Proc. 2003-35 (IRB 2003-20) Like-kind exchanges; Sec. 1031; LKE programs; safe harbor rules; ongoing exchanges of tangible personal property using a single intermediary.
Rev. Proc. 2003-35 (IRB 2003-20) Guidance on gaming industry tipping agreement program; tip compliance agreement.
Rev. Proc. 2003-36 (IRB 2003-18) Guidance on parties to submit issues for consideration under Industry Issue Resolution (IIR) Program; Notice 2002-20 superseded.
Rev. Proc. 2003-34 (IRB 2003-18) Changes in accounting period; approval; annual accounting period; carryback of net operating loss or capital loss generated in short taxable year. Rev. Procs. 2002-37 and 2002-39 modified.
Rev. Proc. 2003-33 (IRB 2003-16) Sec. 338; extensions of time to file election; Form 8023.
Rev. Proc. 2003-27 (IRB 2003-13) Small cash transactions involving rental of taxicabs on a daily shift basis; information reporting; Sec. 6050I.
Rev. Proc. 2003-26 (IRB 2003-13) Sec. 911(d)(1); failure to meet eligibility requirements; adverse conditions in a foreign country.
Rev. Proc. 2003-25 (IRB 2003-11) Transactions with significant book-tax difference; exception; reportable transaction; Sec. 1.6011-4(b)(5).
Rev. Proc. 2003-24 (IRB 2003-11) Exceptions from loss transactions; certain losses not taken into account for reportable transaction for disclosure purposes; Sec. 1.6011-4(b)(5).
Rev. Proc. 2003-23 (IRB 2003-11) Corporation S status; S election not terminated; direct rollover of stock in ESOP to IRA.
Rev. Proc. 2003-22 (IRB 2003-10) Standard meal rates for family day care providers; optional meal and snack rates; food provided to eligible children.
Rev. Proc. 2003-9 (IRB 2003-8) Taxpayer identification number (TIN) matching program; permitting payors to verify; Rev. Proc. 97-31 modified.
Rev. Proc. 2003-21 (IRB 2003-6) Exempt organizations other than private foundations; relief from filing Form 990; $25,000 in annual gross receipts; Rev. Proc. 83-23 supplemented.
Rev. Proc. 2003-20 (IRB 2003-6) Inventories; lower of cost or market; rebuilt parts; vehicle parts cores; safe harbor method of accounting; Rev. Proc. 2002-9 modified and amplified.
Rev. Proc. 2003-19 (IRB 2003-5) Administrative appeal; rights of former spouse; innocent spouse.
Rev. Proc. 2003-14 (IRB 2003-4) Indian tribal government trusts for minors; save harbor; IGRA; Rev. Proc. 2003-3 amplified
Rev. Proc. 2003-16 (IRB 2003-4) 60-day rollover requirement; waiver; Sec. 402(c)(3); Sec. 408(d)(3).
Rev. Proc. 2003-13 (IRB 2003-4) Deemed IRAs; EGTRRA; Sec. 408(q).
Rev. Proc. 2003-11 (IRB 2003-4) Offshore Voluntary Compliance Initiative; underreported income; offshore financial arrangements; offshore payment cards.
Rev. Proc. 2003-10 (IRB 2003-2) Minimum distributions; delayed amendment date for defined benefit plans; EGTRRA remedial amendment; qualified defined benefit plans; Rev. Proc. 2002-29 modified.
Rev. Proc. 2003-8 (IRB 2003-1) User fees for employee plans and exempt organizations; letter rulings; determination letters; tax exempt and government entities; Rev. Proc. 2002-8 superseded.
Rev. Proc. 2003-7 (IRB 2003-1) Areas in which advance rulings or determination letters will not be issued; Associate Chief Counsel (International); Rev. Proc. 2002-7 superseded.
Rev. Proc. 2003-6 (IRB 2003-1) Employee plan determination letters; revised procedures; Sec. 401(a), 403(a), 409, 4975; Rev. Proc. 2002-6 superseded.
Rev. Proc. 2003-5 (IRB 2003-1) Technical advice; revised procedures; tax exempt organizations; employee plans; Rev. Proc. 2002-5 superseded.
Rev. Proc. 2003-4 (IRB 2003-1) Rulings and information letters; issuance procedures; tax exempt; Rev. Proc. 2002-4 superseded.
Rev. Proc. 2003-3 (IRB 2003-1) Areas in which rulings or determination letters will not be issued; revised list. Rev. Procs. 2002-3 and 2002-75 superseded; 2002-22 modified.
Rev. Proc. 2003-2 (IRB 2003-1) Technical advice; revised procedures; corporate; financial institutions & products; income tax & accounting; international; passthroughs and special industries; procedure and administration; tax exempt and government.
Rev. Proc. 2003-1 (IRB 2003-1) Letter rulings; determination letters; revised procedures; corporate; financial institutions & products; income tax & accounting; international; passthroughs and special industries; procedure and administration; tax exempt and government.

Regulations

T.D. 9077 (IRB 2003-39) Sec. 2519; amount treated as a transfer when right to recover gift tax under Sec. 2207A; QTIP; qualified terminable interest property.
T.D. 9075 (IRB 2003-39) Sec. 457; deferred compensation plans; state and local government; tax-exempt entities.
T.D. 9074 (IRB 2003-39) Sec. 66; community income for certain married individuals in community property states who do not file joint returns.
T.D. 9076 (IRB 2003-38) Sec. 417; requirement of written explanations of certain benefits to be provided by qualified retirement plans after annuity starting date.
T.D. 9071 (IRB 2003-38) Sec. 338; REG-143679-02; election under 338(h)(10); step transaction; multi-step transaction; reorganization; qualified stock purchase.
T.D. 9072 (IRB 2003-37) Sec. 414(v); retirement plans; catch-up contributions; age 50 or older; sections 401(k), 408(p), 408(k), 403(b), 457 affected; SIMPLE IRA, simplified employee pensions, tax sheltered annuity contracts, governmental plans.
T.D. 9069 (IRB 2003-37) Sec. 280F; REG-138495-02; dollar limits on depreciation; light trucks and vans; passenger automobile; qualified nonpersonal use vehicles.
T.D. 9068 (IRB 2003-37) Sec. 2055; qualification of charitable guaranteed annuity and unitrust interests; Rev. Rul. 76-225 revoked.
T.D. 9066 (IRB 2003-36) Sec. 367; antiabuse regulations; scope of rule; outbound transfers to foreign corporation; complete liquidation of domestic corporation.
T.D. 9065 (IRB 2003-36) Sec. 6038; U.S. partner; filing requirements; Form 8865; foreign partnership.
T.D. 9064 (IRB 2003-36) Sec. 274; substantiation of incidental expenses paid or incurred while traveling away from home; allowance in lieu of substantiating actual cost.
T.D. 9063 (IRB 2003-36) Sec. 382; REG-108676-03; loss corporations; ownership change; carryforward; qualified trust; distribution of interest.
T.D. 9067 (IRB 2003-32) Sec. 83; REG-116914-03; clarify and amend regulations to address transfers of compensatory stock options to related persons; not arm's length transaction.
T.D. 9062 (IRB 2003-28) Sec. 752; REG-106736-00; assumption of partner's liability by a partnership; reduction in outside basis.
T.D. 9061 (IRB 2003-27) Sec. 6081; REG-107618-02; final, temporary and proposed; automatic extension of time to file certain information returns and exempt organization returns; signature and explanation requirement.
T.D. 9059 (IRB 2003-26) Sec. 755; partnerships; allocation of basis adjustments among partnership assets.
T.D. 9057 (IRB 2003-22) Sec. 1502; 382; consolidated return; acquisition of subsidiary; election to waive subsidiary's loss carryovers from separate return limitation year (SRLY).
T.D. 9056 (IRB 2003-21) Sec. 408; new method used for calculating the net income attributable to an IRA contribution distributed as a returned contribution.
T.D. 9055 (IRB 2003-21) Sec. 3406; 6724: method of determining whether a payer has received two IRS notices that a payee's identification number (TIN) is incorrect for backup withholding.
T.D. 9054 (IRB 2003-20) Sec. 6103; return disclosure by IRS employees.
T.D. 9053 (IRB 2003-20) Sec. 6695; 6107; temporary and proposed regulations (REG-141659-02) electronic filing by return preparers.
T.D. 9052 (IRB 2003-19) Sec. 4980F; notification requirements under Sec. 204(h) of ERISA.
T.D. 9050 (IRB 2003-14) Sec. 7433; 7426; recovery of damages; willful violation of the automatic stay or discharge provisions.
T.D. 9044 (IRB 2003-14) Sec. 6103; contractors who engage in tax administration services; penalties for unauthorized disclosure of returns.
T.D. 9049 (IRB 2003-14) Sec. 705; 1032; guidance for making basis adjustments; direct or indirect interest in a partnership holding stock in that corporation.
T.D. 9046 (IRB 2003-12) Sec. 6011; 6012; disclosure requirements; reportable transactions; confidential corporate tax shelters; list maintenance.
T.D. 9045 (IRB 2003-12) Sec. 32; earned income credit.
T.D. 9043 (IRB 2003-12) Sec. 874; disallowance of deductions and credits for nonresident alien individuals and corporations; failure to file timely income tax return.
T.D. 9038 (IRB 2003-9) Sec. 368; REG-126485-01; statutory mergers and consolidations; domestic disregarded entity.
T.D. 9035 (IRB 2003-9) Sec. 1041; tax treatment of redemptions during marriage or incident to divorce of stock in a corporation owned by a spouse or former spouse.
T.D. 9041 (IRB 2003-8) Sec. 3406; taxpayer identification number (TIN) matching program.
T.D. 9031 (IRB 2003-8) Sec. 121; REG-1388882-02; temporary and proposed regulations; reduced maximum exclusion of gain from sale or exchange of property; 2 of preceding 5 years; exclusion of gain within preceding 2 years.
T.D. 9030 (IRB 2003-8) Sec. 121; exclusion of gain; sale or exchange of principal residence.
T.D. 9034 (IRB 2003-7) Sec. 25A; education tax credit; postsecondary educational expenses.
T.D. 9033 (IRB 2003-7) Sec. 6038; Final, temporary, proposed regulations; U.S. partner; Form 8865; foreign partnership.
T.D. 9032 (IRB 2003-7) Sec. 645; Election under; certain revocable trusts; treated and taxed as part of an estate; owned by grantor; Notice 2001-26; Rev. Proc. 98-13 obsoleted.
T.D. 9028 (IRB 2003-6) Sec. 7602(c); IRS employees; prohibition from contacting persons other than taxpayer for determination of collection of taxpayer's liability.
T.D. 9027 (IRB 2003-6) Sec. 6331; Prohibition of levy while installment agreement is pending.
T.D. 9026 (IRB 2003-5) Sec. 7526; Low income taxpayer clinics; LITCs; exclude from income tax return preparer definition under Sec. 7701(a)(36).
T.D. 9025 (IRB 2003-5) Sec. 446; Timing rules; intercompany transactions; method of accounting; Sec. 1.1502-13.

Proposed Regulations

REG-144908-02 (IRB 2003-38) Sec. 6302; additional exception to FUTA deposit requirements; $2,500 threshold for quarter.
REG-130262-03 (IRB 2003-37) Sec. 1502; rules for determining basis of stock of former common parent of consolidated group after group structure change; basis in fully taxable transaction to reflect the cost of the acquired stock.
REG-121122-03 (IRB 2003-37) Sec. 1042; guidance concerning notarized statement of purchase requirements; election to defer gain from stock sale to an employee stock ownership plan (ESOP).
REG-138499-02 (IRB 2003-37) Sec. 168; depreciation; use changes hands of same taxpayer; when use change occurs.
REG-209377-89 (IRB 2003-36) Sec. 465; at-risk limitations; amounts borrowed from person who has an interest in the activity other than that of a creditor; all activities subject to rule.
REG-112039-03 (IRB 2003-35) Sec. 411; amend 1.411(d)-4 to reflect addition of Sec. 411(d)(6)(E); 90-day notice.
REG-108639-99 (IRB 2003-35) Sec. 401(k); 401(m); retirement plans containing cash or deferred arrangements; matching contributions or employee after-tax contributions.
REG-129709-03 (IRB 2003-35) Sec. 409(p); T.D. 9081; employee stock ownership plans (ESOP) holding stock of Subchapter S corporations.
REG-133791-02 (IRB 2003-35) Sec. 41; tax credit for qualified research expenditures; research credit; allocating to members of controlled group; common control.
REG-141669-02 (IRB 2003-34) Sec. 6724; correction of a failure to file correct information return; promptness for waiving information reporting penalties.
REG-131997-02 (IRB 2003-33) Sec. 42; low income housing credit; Community Renewal Tax Relief Act of 2000.
REG-122917-02 (IRB 2003-27) Sec. 421; 422; 424; 6039; statutory stock options.
REG-157302-02 (IRB 2003-24) Sec. 408; accounts and annuities added to qualified employer plans; treated as individual retirement accounts.
REG-142605-02 (IRB 2003-23) Sec. 263A; 448; change in accounting method; adjustment under Sec. 481(a).
REG-113007-99 (IRB 2003-23) Sec. 141; definition of private activity bond applicable to tax-exempt bonds issued by state and local governments.
REG-164754-01 (IRB 2003-22) Sec. 61; valuation of economic benefits provided under split-dollar life insurance arrangement; income, gift, and employment tax consequences.
REG-131478-02 (IRB 2003-13) Sec. 1502; consolidated group; basis of stock of subsidiary member prior to transfer of stock or deconsolidation; final, temporary, proposed; T.D. 9048.
REG-103580-02 (IRB 2003-9) Sec. 721; noncompensatory options and convertible instruments issued by partnerships; Sec. 704(b); partners' distributive shares of partnership items.
REG-116641-01 (IRB 2003-8) Sec. 3406; 6724; taxpayer identification number (TIN) matching program; backup withholding; qualified payment card agent.
REG-126016-01 (IRB 2003-7) Sec. 6662; 6664; defenses to imposition of accuracy-related penalty; fail to disclose reportable transactions; reasonable cause.
REG-124069-02 (IRB 2003-7) Sec. 6038; Final, temporary, proposed regulations; U.S. partner; Form 8865; foreign partnership.
REG-125638-01 (IRB 2003-5) Sec. 263(a); Sec. 167(a); amortization of intangibles; safe harbor; debt issuance costs.
REG-151043-02 (IRB 2003-3) Sec. 61; deferring inclusion of advance rentals in gross income to a year other than the year of receipt.
REG-164464-02 (IRB 2003-2) Sec. 401, 411; cash balance plans; accruals and allocations; qualified retirement plans; REG-209500-86

Notices

Notice 2003-64 (IRB 2003-39) Investments through multiple CDEs; qualified community development entity; Sec. 45D; regulations to be amended.
Notice 2003-60 (IRB 2003-39) Collection issues; U.S. vs. Craft; federal tax lien attaches to property held as tenancy by the entirety.
Notice 2003-62 (IRB 2003-38) Mortality tables; retirement plans; Sec. 412(l).
Notice 2003-59 (IRB 2003-35) Uniform capitalization; methods of accounting; automatic approval to change to simplified service cost or simplified production method for self-constructed assets. Notice 2003-36 modified.
Notice 2003-57 (IRB 2003-34) Canadian retirement plans; circumstances under which Form 3520 or Form 3520-A may not be required for 2002.
Notice 2003-56 (IRB 2003-34) Sec. 1.45D-1T; amendment of regulations; equity investment prior to allocation; Community Development Financial Institutions Fund; new markets tax credit; qualified equity investment.
Notice 2003-55 (IRB 2003-34) Lease strips; Notice 95-53 modified and superseded.
Notice 2003-54 (IRB 2003-33) Tax shelter; common trust fund (CTF); invest in offsetting gain and loss positions in foreign currencies; listed transaction.
Notice 2003-51 (IRB 2003-33) Accompanies Rev. Rul. 2003-76; additional guidance prescribing tax treatment of partial exchanges of annuity contracts.
Notice 2003-52 (IRB 2003-32) Sec. 911; U.S. citizens earning income in Iraq; not subject to limitations of 911(d)(8)(A).
Notice 2003-50 (IRB 2003-32) Sec. 269B; stapled foreign corporation to domestic corporation; includible corporation under Sec. 1504(b) when applying Sec. 1.904(i)-1 and 1.861-11T(d)(6); Notice 89-94 modified.
Notice 2003-49 (IRB 2003-32) Sec. 401(b); EGTRRA remedial amendment period; employee plans' user fees; Notice 2002-1 amplified.
Notice 2003-47 (IRB 2003-30) Sec. 83: Nonstatutory stock options; transfer to related person in exchange for a long-term unsecured deferred payment obligation.
Notice 2003-45 (IRB 2003-29) Depreciation; mid-quarter convention; election for taxable year that includes September 11, 2001; election under Notice 2001-70; Notice 2001-74; automatic extension of time till December 31, 2003 to amend return.
Notice 2003-40 (IRB 2003-27) Sec. 1400L; clarification concerning tax-exempt qualified New York Libert bonds.
Notice 2003-38 (IRB 2003-27) Sec. 874; 882; compliance initiative for nonresident aliens and foreign corporations who have not filed U.S. income tax returns; denial of deductions.
Notice 2003-37 (IRB 2003-26) Sec. 6041; 6041A; optional procedure for payors using payment cards; payments reportable on Forms 1099; merchant category codes; MCC.
Notice 2003-36 (IRB 2003-23) Sec. 263A; uniform capitalization; types of property; eligible property for simplified service cost; simplified production methods; change in accounting method; Rev. Proc. 2002-9 suspended in part.
Notice 2003-34 (IRB 2003-23) Investment in purported insurance company organized offshore; hedge fund investments; passive foreign investment company.
Notice 2003-33 (IRB 2003-23) Sec. 645; termination of election period; trusts and estates of decedents dying before December 24, 2002.
Notice 2003-20 (IRB 2003-19) Sec. 457(b); withholding and reporting requirements; eligible deferred compensation plans; after December 31, 2001; Notice 2000-38 modified.
Notice 2003-26 (IRB 2003-18) Guidance Priority List; request for taxpayer submission.
Notice 2003-24 (IRB 2003-18) Canadian retirement plan trust reporting; extension of time; Forms 3520 and 3520-A; election under Rev. Proc. 2002-23.
Notice 2003-24 (IRB 2003-18) Sec. 419A(f)(5); collectively-bargained welfare plans; listed transactions; abusive arrangement.
Notice 2003-22 (IRB 2003-18) Abusive arrangement; unrelated conduit; domestic and foreign employee leasing company.
Notice 2003-21 (IRB 2003-17) Guidance on tax relief under Executive Order No. 12744; U.S. military and support personnel involved in military operations in Persian Gulf.
Notice 2003-19 (IRB 2003-14) Proper address for filing certain elections, statements, and other documents with the Service.
Notice 2003-18 (IRB 2003-14) Disaster relief grants; tax treatment of grant payments; Empire State Development Corporation.
Notice 2003-15 (IRB 2003-9) Safe harbor for determining finality of foreign adoptions; foreign-born children; adoption credit; exclusion of employer-provided assistance.
Notice 2003-13 (IRB 2003-8) Qualified payment card agent; QPCA; merchant's names.
Notice 2003-12 (IRB 2003-6) Sec. 448(d)(5); Nonaccrual experience method; guidance to taxpayers changing to or from; as amended; Rev. Proc. 2002-9 modified.
Notice 2003-11 (IRB 2003-6) Sec. 6011; 6012; Relief regards to effective dates of temporary regulations; tax shelter regulations.
Notice 2003-10 (IRB 2003-5) Sec. 411(d)(6)(B); Definition of early retirement benefits and retirement-type subsidies; Notice 2002-46 modified.
Notice 2003-9 (IRB 2003-5) Sec. 45D; Extension of deadline relating to certain equity investments; new markets tax credit.
Notice 2003-8 (IRB 2003-4) Sec. 6045; no information reporting required until further notice; securities futures contracts.
Notice 2003-6 (IRB 2003-3) Nondiscrimination rules; certain governmental plans; IRS intention to issue regulations; Sec. 414(d).
Notice 2003-4 (IRB 2003-3) LIFO recapture; failure to timely make installment payment; Sec. 1363(d).
Notice 2003-3 (IRB 2003-2) Guidance on methods of reporting required minimum distributions under Sec. 408; Notice 2002-27 clarified.
Notice 2003-2 (IRB 2003-2) Required minimum distributions; Sec. 1.401(a)(9)-6T.
Notice 2003-2 (IRB 2003-2) Leave-based donation programs; Notice 2001-69 modified and suspended.

Announcements

Announcement 2003-56 (IRB 2003-39) Reporting changes; capital gains; partnerships; S corporations; estates; trusts.
Announcement 2003-49 (IRB 2003-32) Annual accounting periods; automatic approval; individuals changing to calendar year.
Announcement 2003-47 (IRB 2003-29) Changes to Form 8873 Extraterritorial Income Exclusion.
Announcement 2003-45 (IRB 2003-28) Sec. 3406; backup withholding rate; reduction.
Announcement 2003-44 (IRB 2003-26) Correction of typographical error; Rev. Rul. 2003-50.
Announcement 2003-40 (IRB 2003-26) IRS testing changes under Section 32; qualifying child eligibility under Earned Income Credit.
Announcement 2003-37 (IRB 2003-24) IRS considering publishing notice of proposed rulemaking; amount of liability a transferee of property is treated as assuming in connection with a transfer of property.
Announcement 2003-35 (IRB 2003-21) Notice of proposed rulemaking (REG-100420-03); safe harbor; financial statement-tax conformity; valuation of certain securities; Sec. 475.
Announcement 2003-33 (IRB 2003-21) New Form 8876; Excise Tax on Structured Settlement Factoring Transactions; Sec. 5891.
Announcement 2003-29 (IRB 2003-20) Public commment requrested on Sec. 501(c)(3) organizations; international grant-making; diversion of assets.
Announcement 2003-21 (IRB 2003-17) Dutch agreement on pension funds.
Announcement 2003-24 (IRB 2003-16) Corrections to proposed regulations; REG-131478-02; redetermine basis of stock in subsidiary member of consolidated group; disposition of stock.
Announcement 2003-23 (IRB 2003-16) Corrections to fnal and temporary regulations; T.D. 9048; basis of stock in subsidiary member of consolidated group; deconsolidations; disposition of stock; suspend certain losses.
Announcement 2003-17 (IRB 2003-15) Publication 538, Accounting Periods and Methods; revised March 2003 available.
Announcement 2003-19 (IRB 2003-15) Advance Pricing Agreements (APAs); structure of program.
Announcement 2003-18 (IRB 2003-13) Sec. 7508A; relief from interest and penalties; decedents' estates; September 11, 2001 terrorist attack.
Announcement 2003-16 (IRB 2003-12) Corrections to final regulations (T.D. 9021); loans made from a qualified plan to plan participants or beneficiaries.
Announcement 2003-13 (IRB 2003-11) Form 5310; Application for Determination for Terminating Plan; revised form; determination letter for terminating qualified employee benefit plan.
Announcement 2003-11 (IRB 2003-10) Corrections to temporary regulations (T.D. 9022); Sec. 6043(c); information reporting by corporation; control of corporation acquired; recapitalization of corporation or substantial change in capital structure.
Announcement 2003-9 (IRB 2003-7) Sec. 302; 304; REG-150313-01; basis of redeemed stock when a distribution in redemption is treated as a dividend.
Announcement 2003-8 (IRB 2003-6) Corrections to final regulations T.D. 9002; agent for subsidiaries of affiliated group filing a consolidated return.
Announcement 2003-7 (IRB 2003-6) Acquisitions of control and substantial changes in corporate structure; information reporting; Form 1099-CAP; relief in 2002; substitute to form.
Announcement 2003-5 (IRB 2003-5) Advance notice; proposed regulations; Circular 230; standards practices of attorneys; CPAs, etc.
Announcement 2003-4 (IRB 2003-5) Correction to Rev. Proc. 2003-7.
Announcement 2003-3 (IRB 2003-4) Names of neutrals qualified by Service and Chief Counsel; arbitrators; contingent liability transaction; Rev. Proc. 2002-67.
Announcement 2003-1 (IRB 2003-2) Technical advice cases; proposed cash balance regulations; age discrimination.

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