[April 30, 2007 (Volume 72, Number 82)] [Unified Agenda] From the Federal Register Online via GPO Access [frwais.access.gpo.gov] [DOCID: f:ua070416.wais] [Page 22976-23110] Department of the Treasury ----------------------------------------------------------------------- Part XVI ----------------------------------------------------------------------- Semiannual Regulatory Agenda [[Page 22976]] DEPARTMENT OF THE TREASURY (TREAS) _______________________________________________________________________ DEPARTMENT OF THE TREASURY 31 CFR Subtitle A, Chs. I and II Semiannual Agenda AGENCY: Department of the Treasury. ACTION: Semiannual regulatory agenda. _______________________________________________________________________ SUMMARY: This notice is given pursuant to the requirements of the Regulatory Flexibility Act (Pub. L. 96-354, September 19, 1980) and Executive Order (E.O.) 12866 (``Regulatory Planning and Review,'' September 30, 1993), which require the publication by the Department of a semiannual agenda of regulations. FOR FURTHER INFORMATION CONTACT: The Agency Contact identified in the item relating to that regulation. SUPPLEMENTARY INFORMATION: On November 25, 2002, the President signed the Homeland Security Act of 2002 (the Act), establishing the Department of Homeland Security (DHS). The Act transferred the United States Customs Service from the Department of the Treasury to the DHS, where it is now known as the Bureau of Customs and Border Protection. Notwithstanding the transfer of the Customs Service to DHS, the Act provides that the Secretary of the Treasury retains sole legal authority over the customs revenue functions, and authorizes the Secretary to delegate any of this retained authority to the Secretary of Homeland Security. By Treasury Department Order No. 100-16, the Secretary of the Treasury delegated to the Secretary of Homeland Security authority to prescribe regulations pertaining to the customs revenue functions. This Order further provided that the Secretary of the Treasury retained the sole authority to approve any such regulations concerning import quotas or trade bans; user fees; marking and labeling; copyright and trademark enforcement; and the completion of entry or substance of entry summary, including duty assessment and collection, classification, valuation, application of the U.S. Harmonized Schedules, eligibility or requirements for preferential trade programs, and the establishment of recordkeeping requirements. Accordingly, these regulations are listed in the semiannual regulatory agenda of the Departmental Offices of the Department of the Treasury. Because of continuing limitations in the computer software used to prepare the agenda, the agency information under the heading ``For Further Information Contact'' for these regulations incorrectly indicates the Bureau of Customs and Border Protection contact person is an employee of the Department of the Treasury rather than the Department of Homeland Security. The semiannual agenda of the Department of the Treasury conforms to the Unified Agenda format developed by the Regulatory Information Service Center (RISC). Dated: March 6, 2007. Richard S. Carro, Senior Advisor to the General Counsel for Regulatory Affairs. Departmental Offices--Proposed Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2081 Remote Location Filing................................................................ 1505-AB20 2082 Expanded Methods of Payment of Duties, Taxes, Interest, and Fees...................... 1505-AB22 2083 Uniform Rules of Origin............................................................... 1505-AB49 2084 Revision of Outbound Redelivery Procedures and Liabilities............................ 1505-AB52 2085 Centralization of the Continuous Bond Program at the CBP National Finance Center...... 1505-AB54 2086 Administrative Rulings and Protests................................................... 1505-AB65 2087 Foreign Repairs to American Vessels; Consolidation of Vessel Repair Units............. 1505-AB71 2088 Prohibition on Funding of Unlawful Internet Gambling.................................. 1505-AB78 ---------------------------------------------------------------------------------------------------------------- Departmental Offices--Final Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2089 Reporting and Procedures Regulations; Cuban Assets Control Regulations: Publication of 1505-AA95 Economic Sanctions Enforcement Guidelines............................................. 2090 Country-of-Origin Marking............................................................. 1505-AB21 2091 User and Navigation Fees; Other Reimbursable Charges.................................. 1505-AB24 2092 African Growth and Opportunity Act and Generalized System of Preferences.............. 1505-AB26 2093 United States-Caribbean Basin Trade Partnership Act and Caribbean Basin Initiative.... 1505-AB28 2094 Reimbursable Customs Inspectional Services--Increase in Hourly Rate Charge............ 1505-AB29 2095 Dog and Cat Protection Act............................................................ 1505-AB31 2096 Trade Benefits Under the African Growth and Opportunity Act........................... 1505-AB38 2097 Fees for Customs Processing at Express Consignment Carrier Facilities................. 1505-AB39 2098 Trade Benefits Under the Caribbean Basin Economic Recovery Act........................ 1505-AB40 2099 United States--Singapore Free Trade Agreement......................................... 1505-AB48 2100 Recordation of Copyrights and Enforcement Procedures To Prevent Importation of 1505-AB51 Piratical Articles.................................................................... 2101 NAFTA: Merchandise Processing Fee Exemption and Technical Corrections................. 1505-AB58 [[Page 22977]] 2102 Country of Origin of Textile and Apparel Products..................................... 1505-AB60 2103 Dominican Republic-Central America-United States Free Trade Agreement................. 1505-AB64 2104 Entry of Certain Cement Products From Mexico Requiring a Commerce Department Import 1505-AB68 License............................................................................... 2105 Economic Sanctions Enforcement Procedures for Banking Institutions.................... 1505-AB69 2106 Entry Of Certain Softwood Lumber Products From Canada Requiring An Export Permit...... 1505-AB73 2107 United States--Jordan Free Trade Agreement............................................ 1505-AB75 2108 United States--Morocco Free Trade Agreement........................................... 1505-AB76 2109 United States--Australia Free Trade Agreement......................................... 1505-AB77 2110 Extension of Import Restrictions Imposed on Archaeological and Ethnological Material 1505-AB79 From Peru............................................................................. 2111 Extension of Import Restrictions Imposed on Pre-Classical and Classical Archaeological 1505-AB80 Material and Byzantine Ecclesiastical and Ritual Ethnological Material From Cyprus.... ---------------------------------------------------------------------------------------------------------------- Departmental Offices--Long-Term Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2112 Possible Regulation of Access to Accounts at Financial Institutions Through Payment 1505-AA74 Service Providers..................................................................... 2113 Financial Subsidiaries................................................................ 1505-AA81 2114 Secretary's Determination of Real Estate Brokerage.................................... 1505-AA84 2115 Terrorism Risk Insurance Program; Recoupments of Federal Share of Compensation for 1505-AB10 Insured Losses........................................................................ 2116 Harbor Maintenance Fee................................................................ 1505-AB11 2117 Donated Cargo Exemption From Harbor Maintenance Fee................................... 1505-AB12 2118 Reconciliation........................................................................ 1505-AB16 2119 North American Free Trade Agreement (NAFTA)--Implementation of Duty-Deferral Program 1505-AB17 Provisions............................................................................ ---------------------------------------------------------------------------------------------------------------- Departmental Offices--Completed Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2120 United States--Chile Free Trade Agreement............................................. 1505-AB47 2121 Conditional Release Period and Customs Bond Obligations for Food, Drugs, Devices, and 1505-AB57 Cosmetics............................................................................. 2122 Fees for Certain Services............................................................. 1505-AB62 2123 Extension of Import Restrictions Imposed on Archaeological and Ethnological Material 1505-AB74 From Bolivia.......................................................................... ---------------------------------------------------------------------------------------------------------------- Financial Crimes Enforcement Network--Prerule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2124 Customer Identification Programs for Pawn Brokers..................................... 1506-AA39 2125 Provision of Banking Services to Money Services Businesses............................ 1506-AA85 ---------------------------------------------------------------------------------------------------------------- Financial Crimes Enforcement Network--Proposed Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2126 Customer Identification Programs for Travel Agents.................................... 1506-AA38 2127 Customer Identification Programs for Loan and Finance Companies....................... 1506-AA40 2128 Customer Identification Programs for Sellers of Vehicles.............................. 1506-AA41 2129 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering Programs for 1506-AA73 Loan and Finance Companies............................................................ [[Page 22978]] 2130 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering Programs for 1506-AA80 Businesses Engaged in Vehicle Sales, Including Automobile, Airplane, and Boat Sales... 2131 Amendments to Bank Secrecy Act Regulations--Casino Recordkeeping and Reporting 1506-AA84 Requirements.......................................................................... 2132 Amendment to the Bank Secrecy Act Regulations--Requirement That Check Cashers Report 1506-AA87 Suspicious Transactions............................................................... ---------------------------------------------------------------------------------------------------------------- Financial Crimes Enforcement Network--Final Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2133 Amendment to the Bank Secrecy Act Regulations Regarding Reporting of Cross-Border 1506-AA15 Transportation of Certain Monetary Instruments........................................ 2134 Amendment to the Bank Secrecy Act Regulations--Exemptions From the Requirement To 1506-AA23 Report Transactions in Currency....................................................... 2135 Amendment to the Bank Secrecy Act Regulations--Requirement That Nonfinancial Trades or 1506-AA25 Businesses Report Certain Currency Transactions....................................... 2136 Customer Identification Programs for Banks, Savings Associations, and Credit Unions... 1506-AA31 2137 Amendment to the Bank Secrecy Act Regulations--Requirement That Mutual Funds Report 1506-AA37 Suspicious Transactions............................................................... 2138 Imposition of Special Measures Against the Country of Nauru........................... 1506-AA43 2139 Financial Crimes Enforcement; Amendments to the Bank Secrecy Act Regulations-- 1506-AA61 Nomenclature Changes.................................................................. 2140 Imposition of Special Measure Against First Merchant Bank OSH Ltd, Incl. Its 1506-AA65 Subsidiaries: FMB Finance Ltd, First Merchant International Inc, First Merchant Finance Ltd, and First Merchant Trust Ltd............................................. 2141 Imposition of Special Measure Against Infobank as a Financial Institution of Primary 1506-AA67 Money Laundering Concern.............................................................. 2142 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering Programs for 1506-AA68 Mutual Funds.......................................................................... 2143 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering Programs for 1506-AA69 Travel Agencies....................................................................... 2144 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering Programs for 1506-AA71 Investment Advisors................................................................... 2145 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering Programs for 1506-AA72 Financial Institutions................................................................ 2146 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering Programs for 1506-AA74 Money Services Businesses............................................................. 2147 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering Programs for 1506-AA75 Commodity Trading Advisors............................................................ 2148 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering Programs for 1506-AA76 Operators of a Credit Card System..................................................... 2149 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering Programs for 1506-AA77 Unregistered Investment Companies..................................................... 2150 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering Programs for 1506-AA78 Dealers in Precious Metals, Stones, or Jewels......................................... 2151 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering Programs for 1506-AA79 Persons Involved in Real Estate Closings and Settlements.............................. 2152 Amendment to the Bank Secrecy Act Regulations--Imposition of Special Measure Against 1506-AA83 Banco Delta Asia SARL................................................................. 2153 Threshold for the Requirement To Collect, Retain, and Transmit Information on Funds 1506-AA86 Transfer and Transmittal of Funds..................................................... ---------------------------------------------------------------------------------------------------------------- Financial Crimes Enforcement Network--Long-Term Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2154 Amendments to the Bank Secrecy Act Regulations--Special Reporting and Recordkeeping 1506-AA19 Requirements--Money Services Businesses (MSBs)........................................ ---------------------------------------------------------------------------------------------------------------- [[Page 22979]] Financial Crimes Enforcement Network--Completed Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2155 Imposition of Special Measures Against the Commercial Bank of Syria as a Financial 1506-AA64 Institution of Primary Money Laundering Concern....................................... ---------------------------------------------------------------------------------------------------------------- Financial Management Service--Proposed Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2156 Claims on Account of Treasury Checks.................................................. 1510-AA51 2157 Federal Government Participation in the Automated Clearing House (ACH)................ 1510-AB00 2158 Rules and Procedures for Efficient Federal-State Funds Transfers...................... 1510-AB12 2159 Management of Federal Agency Disbursements............................................ 1510-AB13 ---------------------------------------------------------------------------------------------------------------- Financial Management Service--Final Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2160 Federal Claims Collection Standard--Collection by Installments........................ 1510-AA91 2161 Payment of Federal Taxes and the Treasury Tax and Loan Program........................ 1510-AB01 2162 Depositaries and Financial Agents of the Federal Government........................... 1510-AB10 2163 Payment of Federal Taxes and the Treasury Loan Program................................ 1510-AB11 ---------------------------------------------------------------------------------------------------------------- Financial Management Service--Completed Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2164 Administrative Offset Under Reciprocal Agreements with States......................... 1510-AB09 ---------------------------------------------------------------------------------------------------------------- Alcohol and Tobacco Tax and Trade Bureau--Prerule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2165 Proposed Revisions to the Beer Regulations............................................ 1513-AB05 ---------------------------------------------------------------------------------------------------------------- Alcohol and Tobacco Tax and Trade Bureau--Proposed Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2166 Denatured Spirits, Articles, and Nonbeverage Products................................. 1513-AB03 2167 Labeling and Advertising of Wines, Distilled Spirits, and Malt Beverages.............. 1513-AB07 2168 Alternating Brewery Proprietors....................................................... 1513-AB09 2169 Use of the Word ``Pure'' or Its Variants in the Labeling and Advertising of Alcohol 1513-AB16 Beverages............................................................................. 2170 Proposed Expansion of the Santa Maria Valley Viticultural Area........................ 1513-AB31 2171 Proposed Amendment to the Standards of Identity for Distilled Spirits................. 1513-AB33 2172 Modification of Mandatory Label Information for Wine.................................. 1513-AB36 2173 Proposed Establishment of the Upper Mississippi River Valley Viticultural Area........ 1513-AB40 2174 Proposed Establishment of the Pine Mountain-Mayacmas Viticultural Area................ 1513-AB41 2175 Proposed Establishment of the Lake Chelan Viticultural Area........................... 1513-AB42 2176 Proposed Expansion of the Fort Ross Seaview Viticultural Area......................... 1513-AB44 2177 Proposed Establishment of the Haw River Valley Viticultural Area...................... 1513-AB45 [[Page 22980]] 2178 Proposed Establishment of the Indiana Uplands Viticultural Area....................... 1513-AB46 2179 Proposed Expansion of the Paso Robles Viticultural Area............................... 1513-AB47 2180 Firearms and Ammunition Excise Taxes, Consignment Sales of Imported Articles.......... 1513-AB12 2181 Determination of Tax and Recordkeeping on Large Cigars................................ 1513-AA16 2182 Proposed Revisions to the Distilled Spirits Plant Regulations......................... 1513-AA23 2183 Proposed Addition of New Grape Variety Names for American Wines....................... 1513-AA42 2184 Petition To Establish Santa Maria Bench as a New American Viticultural Area........... 1513-AA51 2185 Form TTB F 5100.51, Formula and Process for Domestic and Imported Alcohol Beverages... 1513-AB28 2186 Nonbeverage Product Formulas.......................................................... 1513-AB35 2187 Proposed Revision of Part 9--American Viticultural Areas.............................. 1513-AB39 ---------------------------------------------------------------------------------------------------------------- Alcohol and Tobacco Tax and Trade Bureau--Final Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2188 New Certification Requirements for Imported Wine...................................... 1513-AB00 2189 Major Food Allergen Labeling for Wines, Distilled Spirits, and Malt Beverages......... 1513-AB08 2190 Quarterly Excise Tax Filing for Small Alcohol Excise Taxpayers........................ 1513-AB17 2191 Green Valley of Russian River Valley.................................................. 1513-AB18 2192 Lehigh Valley......................................................................... 1513-AB19 2193 Swan Creek............................................................................ 1513-AB20 2194 San Francisco Bay Expansion........................................................... 1513-AB21 2195 Snake River Valley.................................................................... 1513-AB22 2196 Proposed Expansion of the Alexander Valley Viticultural Area.......................... 1513-AB23 2197 Proposed Establishment of the Tulocay Viticultural Area............................... 1513-AB26 2198 Proposed Establishment of the Paso Robles Westside Viticultural Area.................. 1513-AB27 2199 Firearms Excise Tax; Exemption for Small Manufacturers, Producers, and Importers...... 1513-AB25 2200 Removal of Tobacco Products and Cigarette Papers and Tubes, Without Payment of Tax, 1513-AA99 for Use by the United States in Law Enforcement Activities............................ 2201 Tax Classification of Cigars and Cigarettes........................................... 1513-AB34 2202 Implementation of Public Law 105-33, Section 9302, Relating to Tobacco Product Minimum 1513-AB37 Manufacturing Requirements and Transfer Marking....................................... 2203 Tobacco Products and Cigarette Papers and Tubes Shipped From Puerto Rico to the U.S... 1513-AB38 2204 Implementation of Wine Credit Provisions of Public Law 104-188........................ 1513-AA05 2205 Implementation of Public Law 105-33, Section 9302, Requiring the Qualification of 1513-AA10 Tobacco Product Importers and Miscellaneous Technical Amendments...................... 2206 Proposal To Recognize Synonyms for Petite Sirah and Zinfandel Grape Varieties......... 1513-AA32 2207 Organic Claims in Labeling and Advertising of Alcohol Beverages....................... 1513-AA46 2208 Petition To Establish the Fort Ross Seaview Viticultural Area......................... 1513-AA64 2209 Petition To Establish Calistoga as an American Viticultural Area...................... 1513-AA92 2210 Materials Authorized for the Treatment of Wine and Juice; Processes Authorized for the 1513-AA96 Treatment of Wine, Juice, and Distilling Material..................................... 2211 Suspension of Special (Occupational) Tax.............................................. 1513-AB04 2212 Implementation of Public Law 103-465, Section 712, Time for Payment and Deposits of 1513-AB43 Certain Excise Taxes (No. 277)........................................................ ---------------------------------------------------------------------------------------------------------------- Alcohol and Tobacco Tax and Trade Bureau--Long-Term Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2213 Prohibition of Alcohol Beverage Containers and Standard of Fill for Distilled Spirits 1513-AA07 and Wine.............................................................................. 2214 Use of Various Winemaking Terms on Wine Labels and in Advertisements; Request for 1513-AB24 Public Comment........................................................................ 2215 Availability of Information........................................................... 1513-AA98 2216 Exportation of Liquors................................................................ 1513-AA00 [[Page 22981]] 2217 Implementation of Public Law 105-34, Section 1416, Relating to Refund of Tax for 1513-AA06 Domestic Wine Returned to Bond Regardless of Merchantability (Taxpayer Relief Act of 1997)................................................................................. 2218 Amended Standard of Identity for Sherry............................................... 1513-AA08 2219 Labeling and Advertising of Malt Beverages............................................ 1513-AA60 ---------------------------------------------------------------------------------------------------------------- Alcohol and Tobacco Tax and Trade Bureau--Completed Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2220 Petition To Establish the Outer Coastal Plain American Viticultural Area.............. 1513-AB13 2221 Technical Amendment to Regulations.................................................... 1513-AB32 2222 Petition To Establish Chehalem Mountains as a New American Viticultural Area.......... 1513-AA57 2223 Petition To Establish the Shawnee Hills Viticultural Area............................. 1513-AA70 2224 Proposed Establishment of Tracy Hills Viticultural Area............................... 1513-AA89 ---------------------------------------------------------------------------------------------------------------- Comptroller of the Currency--Proposed Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2225 Regulatory Burden Reduction and Technical Amendments.................................. 1557-AC79 2226 Interagency Proposal for Model Privacy Form Under the Gramm-Leach-Bliley Act.......... 1557-AC80 2227 Accuracy and Integrity of Information Furnished to a Consumer Reporting Agency........ 1557-AC89 2228 Lending Limits Pilot Program.......................................................... 1557-AD03 ---------------------------------------------------------------------------------------------------------------- Comptroller of the Currency--Final Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2229 Identity Theft Detection, Prevention, and Mitigation Program for Financial 1557-AC87 Institutions and Creditors............................................................ 2230 Fair Credit Reporting: Affiliate Marketing Regulations................................ 1557-AC88 2231 Implementation of a Revised Basel Capital Accord (Basel II)........................... 1557-AC91 2232 Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance: 1557-AC95 Domestic Capital Modifications (Basel IA)............................................. 2233 Risk-Based Capital Standards: Market Risk............................................. 1557-AC99 2234 Expanded Examination Cycle for Certain Small Insured Depository Institutions and U.S. 1557-AD02 Branches and Agencies of Foreign Banks................................................ ---------------------------------------------------------------------------------------------------------------- Comptroller of the Currency--Long-Term Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2235 Recordkeeping Requirements for Bank Exceptions From Securities Broker or Dealer 1557-AB93 Registration.......................................................................... 2236 Management Official Interlocks........................................................ 1557-AD01 ---------------------------------------------------------------------------------------------------------------- [[Page 22982]] Comptroller of the Currency--Completed Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2237 Community Reinvestment Act Regulations................................................ 1557-AD00 ---------------------------------------------------------------------------------------------------------------- Internal Revenue Service--Prerule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2238 Imposition of Withholding on Certain Payments Made by Government Entities............. 1545-BG45 ---------------------------------------------------------------------------------------------------------------- Internal Revenue Service--Proposed Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2239 Income Tax--Taxpayer's Obligation To File a Notice of Redetermination of Foreign Tax 1545-AC09 and Civil Penalties for Failure To File............................................... 2240 Clarification of Treatment of Separate Limitation Losses.............................. 1545-AM11 2241 Outbound Transfers of Property to Foreign Corporations................................ 1545-AM97 2242 Foreign Insurance Company--Domestic Election.......................................... 1545-AO25 2243 Taxation of Global Trading............................................................ 1545-AP01 2244 Definition of ``Highly Compensated Employee''......................................... 1545-AQ74 2245 Integrated Financial Transaction...................................................... 1545-AR20 2246 Application of Attribution Rules to Foreign Trusts.................................... 1545-AU91 2247 Agreements for Payment of Tax Liabilities in Installments............................. 1545-AU97 2248 Substantiating Travel Expense Deductions for Members of Congress...................... 1545-AV55 2249 Constructive Sales of Appreciated Financial Positions................................. 1545-AW97 2250 Rules for Sourcing Certain Transportation Income, Space, or Ocean Activity Income, and 1545-AX02 Related Foreign Base Company Shipping Income.......................................... 2251 Guidance on Cost Recovery in the Entertainment Industry............................... 1545-AX12 2252 Inspection of Written Determinations.................................................. 1545-AX40 2253 Awarding of Costs and Certain Fees.................................................... 1545-AX46 2254 Modification to Section 367(a) Stock Transfer Regulations............................. 1545-AX77 2255 Definition of Passive Foreign Investment Company Under Section 1297................... 1545-AX78 2256 Clarification of Foreign Base Company Sales Income Rules.............................. 1545-AX91 2257 Taxable Years of Controlled Foreign Corporations (CFCs)............................... 1545-AY30 2258 Dollar-Value LIFO..................................................................... 1545-AY39 2259 Special Rules Relating to Transfers of Intangibles to Foreign Corporations............ 1545-AY41 2260 Liabilities Assumed in Certain Corporate Transactions................................. 1545-AY74 2261 Disclosure of Returns and Return Information in Judicial and Administrative Tax 1545-AY89 Proceedings........................................................................... 2262 Transactions Involving Obligations of Consolidated Group Members...................... 1545-BA11 2263 Deductibility of Employer Contributions for Deferred Compensation..................... 1545-BA13 2264 Allocation and Apportionment Rules: Guidance on Selected Issues....................... 1545-BA64 2265 Allocation of New Markets Tax Credit.................................................. 1545-BA84 2266 Accrual Rules for Creditable Foreign Taxes and Guidance on Change in Taxable Year..... 1545-BB27 2267 Amending the Low-Income Housing Tax Credit Program.................................... 1545-BB37 2268 Substitute Dividend Payments in Securities Lending and Similar Transactions........... 1545-BB56 2269 Loss on Subsidiary Stock.............................................................. 1545-BB61 2270 Liquidation of an Interest............................................................ 1545-BB71 2271 Utility Allowance Regulation Update................................................... 1545-BC22 2272 Additional Guidance Regarding Mark-to-Market Accounting for Traders in Securities and/ 1545-BC48 or Commodities, Including Foreign Currency Instruments................................ 2273 Coordination of United States and Certain Possessions Income Taxes.................... 1545-BC54 2274 Suspension of Running of Period of Limitation During a Proceeding To Enforce or Quash 1545-BC55 a Designated or Related Summons....................................................... 2275 Guidance Under Section 2053 Regarding Post-Death Events............................... 1545-BC56 2276 Qualified Zone Academy Bonds; Obligations of States and Political Subdivisions........ 1545-BC61 2277 Below-Market Loans.................................................................... 1545-BC78 [[Page 22983]] 2278 Regulations Governing the Performance of Actuarial Services Under the Employee 1545-BC82 Retirement Income Security Act of 1974................................................ 2279 Definition of Loss for Purposes of the Straddle Rules................................. 1545-BC83 2280 Guidance Regarding the Active Trade or Business Requirement Under Section 355(b)...... 1545-BC94 2281 Accumulated Adjustment Account and Other Corporate Separations Under Section 355...... 1545-BC98 2282 Support Test in the Case of a Child of Divorced Parents............................... 1545-BD01 2283 Definition of Qualified Foreign Corporation........................................... 1545-BD15 2284 REMIC Interest-Only Regular Interests................................................. 1545-BD18 2285 Section 42 Qualified Contract Provisions.............................................. 1545-BD20 2286 Payments for Which No Return of Information Is Required Under Section 6041............ 1545-BD21 2287 Definition of Disqualified Person..................................................... 1545-BD28 2288 Transfers of Restricted Stock......................................................... 1545-BD44 2289 Classification of Indian Tribal Corporations.......................................... 1545-BD61 2290 Declaratory Judgment--Gift Tax Value.................................................. 1545-BD67 2291 Regulations Under Section 706 Regarding Determination of Distributive Shares When a 1545-BD71 Partner's Interest Changes............................................................ 2292 Shareholder's Basis in Stock of an S Corporation...................................... 1545-BD72 2293 Guidance Under Section 707(c) Regarding Guaranteed Payments........................... 1545-BD74 2294 Update and Revision of Treasury Regulation Sections 1.381(c)(4) and (5)-1............. 1545-BD81 2295 Amendments to 26 CFR Section 1.263(a)-5 Regarding Treatment of Capitalized Costs...... 1545-BD82 2296 Guidance Regarding Selected Issues Under Section 336(e)............................... 1545-BD84 2297 Definition of the ``Due Date'' for Purposes of Calculating Overpayment Interest Under 1545-BD86 Section 301.6611(h)................................................................... 2298 Reduction of Fuel Excise Tax Evasion.................................................. 1545-BE03 2299 Intra-Group Gross Receipts Under Section 41........................................... 1545-BE14 2300 Farmer and Fisherman Income Averaging Under the American Jobs Creation Act of 2004 1545-BE23 (AJCA)................................................................................ 2301 Tractors, Trailers, Trucks, and Tires................................................. 1545-BE31 2302 Release of Lien or Discharge of Property.............................................. 1545-BE35 2303 Research Expenditures Resulting in Inventory Property................................. 1545-BE64 2304 Section 401(a)(4) Guidance............................................................ 1545-BE69 2305 Information Reporting on Real Estate Transactions..................................... 1545-BE73 2306 Start-Up and Organizational Expenditures.............................................. 1545-BE77 2307 Abandonment of Stock and Other Securities............................................. 1545-BE80 2308 Targeted Populations Under Section 45D(e)(2).......................................... 1545-BE89 2309 S Corporation Guidance Under American Jobs Creation Act of 2004....................... 1545-BE95 2310 Capital Costs Incurred To Comply With EPA Sulfur Regulations.......................... 1545-BE96 2311 Disallowance of Partnership Loss Transfers and Basis Reduction in Stock of a Corporate 1545-BE98 Partner............................................................................... 2312 Section 704(c) and 737 Regulations Update............................................. 1545-BE99 2313 Cafeteria Plans....................................................................... 1545-BF00 2314 Election To Expense Certain Refineries................................................ 1545-BF05 2315 Credit Card Claims.................................................................... 1545-BF07 2316 Nuclear Decommissioning Cost.......................................................... 1545-BF08 2317 Clean Renewable Energy Bonds.......................................................... 1545-BF11 2318 Federal Income Tax Consequences of Transfers Between an Individual Debtor and the 1545-BF13 Bankruptcy Estate in Cases Under Chapters 7 and 11 of Title 11 of the United States Code.................................................................................. 2319 Alcohol Fuel and Biodiesel............................................................ 1545-BF17 2320 Credit for Production From Advanced Nuclear Power Facilities.......................... 1545-BF19 2321 Taxpayer Assistance Orders............................................................ 1545-BF33 2322 Entertainment Expense Disallowance.................................................... 1545-BF34 2323 Failure To Maintain List of Advisees With Respect to Reportable Transactions.......... 1545-BF39 2324 Accuracy-Related Penalties............................................................ 1545-BF40 2325 Taxation of Fringe Benefits and Exclusions From Gross Income of Certain Fringe 1545-BF42 Benefits.............................................................................. 2326 Limitation on Importation of Built-In Losses.......................................... 1545-BF43 2327 Further Guidance Regarding Application of Section 409A................................ 1545-BF50 2328 Requirements for Reorganizations Qualifying Under Section 368(a)(1)(E) or (F)......... 1545-BF51 2329 475 Held for Investment............................................................... 1545-BF53 2330 Change to Office to Which Notices of Nonjudicial Sale and Requests for Return of 1545-BF54 Wrongfully Levied Property Must be Sent............................................... 2331 Section 6707 and the Failure To Furnish Information Regarding Reportable Transactions. 1545-BF59 [[Page 22984]] 2332 Section 6707A and the Failure To Include on any Return or Statement any Information 1545-BF61 Required To Be Disclosed Under Section 6011 With Respect to a Reportable Transaction.. 2333 Activities Customarily Performed by States and Local Governments...................... 1545-BF63 2334 Clarification of Section 6411 Regulations............................................. 1545-BF65 2335 Applying Section 1(h) to Capital Gain Dividends of RICS and REITS..................... 1545-BF72 2336 Multiple Annuity Starting Date Limitations on Benefits Under Qualified Plans.......... 1545-BF74 2337 Guidance on Determination of Interest Expense Allocable in a Global Dealing Operation. 1545-BF76 2338 U.S. Source Income Effectively Connected With U.S. Business........................... 1545-BF77 2339 Source of Income; Source of Guarantee Fee Income...................................... 1545-BF78 2340 Guidance Under Section 67 Regarding Miscellaneous Itemized Deductions of a Trust or 1545-BF80 Estate................................................................................ 2341 Regulation To Delete the Tort Type Rights Test From the Section 104(a)(2) Regulations. 1545-BF81 2342 Exclusion of Income From the International Operation of Ships or Aircraft............. 1545-BF90 2343 Withholding and Reporting Obligations Under Section 1441 Regarding Tender Offers...... 1545-BF93 2344 Circular 230--Review of Section 10.35 et seq.......................................... 1545-BF96 2345 Extensions of Time To File Entity Classification Elections............................ 1545-BG01 2346 Built-In Gains and Losses Under Section 382(h)........................................ 1545-BG03 2347 Revision to Regulations Relating To Withholding of Tax on Certain U.S. Source Income 1545-BG04 Paid to Foreign Persons and Revision of Information Reporting Regulations............. 2348 Electronic Payment System Mailbox Rule................................................ 1545-BG05 2349 Allocation of Costs Under the Simplified Methods...................................... 1545-BG07 2350 Income of Foreign Governments and International Organizations......................... 1545-BG08 2351 Section 1.367(a)-8 Revisions.......................................................... 1545-BG09 2352 Information Returns Required With Respect to Certain Foreign Corporations and Other 1545-BG11 Conforming Changes.................................................................... 2353 Medical and Accident Insurance Benefits Under Qualified Plans......................... 1545-BG12 2354 Withdrawal of Regulations Under Old Section 6323(B)(10)............................... 1545-BG13 2355 Corporate Reorganizations: Guidance on the Measurement of Continuity of Interest...... 1545-BG15 2356 Section 7508A Regulations............................................................. 1545-BG16 2357 Section 751(b) Update................................................................. 1545-BG21 2358 Anti-Avoidance and Anti-Loss Reimportation Rules Applicable Following a Loss on 1545-BG25 Disposition of Stock of Consolidated Subsidiaries..................................... 2359 Determining the Amount of Taxes Paid for Purposes of Section 901...................... 1545-BG27 2360 Corporate Reorganizations; Additional Guidance on Distributions Under Sections 1545-BG28 368(a)(1)(D) and 354(b)(1)(B)......................................................... 2361 Mortality Table for Determining Present Value......................................... 1545-BG30 2362 Qualified Films Under Section 199..................................................... 1545-BG33 2363 Hybrid Retirement Plans............................................................... 1545-BG36 2364 Calculating and Apportioning the Section 11(b)(1) Additional Tax Under Section 1561 1545-BG39 for Controlled Groups................................................................. 2365 Interest on Overpayments.............................................................. 1545-BG42 2366 Determination of Governmental Plan Status............................................. 1545-BG43 2367 Notice Requirements for Certain Pension Plan Amendments Significantly Reducing the 1545-BG48 Rate of Future Benefit Accrual........................................................ 2368 Employment Tax Adjustments............................................................ 1545-BG50 ---------------------------------------------------------------------------------------------------------------- Internal Revenue Service--Final Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2369 Income Tax--Definition of Qualified Possession Source Investment Income for Purposes 1545-AC10 of Puerto Rico and Possession Tax Credit.............................................. 2370 Information From Passport and Immigration Applicants.................................. 1545-AJ93 2371 Foreign Corporations.................................................................. 1545-AK74 2372 Nonrecognition of Corporate Distributions and Reorganizations Under the Foreign 1545-AK79 Investment in Real Property Tax Act................................................... 2373 Computation of a Branch's Taxable Income; Taxation of Exchange Gain or Loss on Branch 1545-AM12 Remittances........................................................................... 2374 Earnings and Profits of Controlled Foreign Corporations............................... 1545-AM90 2375 Earnings Stripping Payments........................................................... 1545-AO24 2376 Registration Required Obligations..................................................... 1545-AP33 2377 Mark-to-Market Upon Disposition....................................................... 1545-AS85 [[Page 22985]] 2378 Straddles--Miscellaneous Issues....................................................... 1545-AT46 2379 Recomputation of Life Insurance Reserves.............................................. 1545-AU49 2380 Mark-to-Market Accounting for Dealers in Commodities and Traders in Securities and 1545-AW06 Commodities........................................................................... 2381 Stocks and Securities Safe Harbor Exception........................................... 1545-AW13 2382 Intercompany Obligations.............................................................. 1545-AW30 2383 Allocation and Apportionment of Interest Expense and Certain Other Expenses........... 1545-AX72 2384 Capitalization of Interest and Carrying Charges Properly Allocable to Straddles....... 1545-AX92 2385 Guidance on Changes to the Laws for Corporate Estimated Taxes......................... 1545-AY22 2386 Previously Taxed Earnings and Profits Under Subpart F................................. 1545-AY54 2387 Normalization......................................................................... 1545-AY75 2388 Consolidated Returns; Nonapplicability of Section 357(c).............................. 1545-BA09 2389 Reductions of Accruals and Allocations Because of Increased Age....................... 1545-BA10 2390 Suspension of Statutes of Limitation in John Doe and Third Party Summons Disputes, and 1545-BA31 Expansion of Taxpayers' Rights To Receive Notice and Seek Judicial Review of Third Party Summonses....................................................................... 2391 Noncompensatory Partnership Options................................................... 1545-BA53 2392 Circular 230--Phase 2 Nonshelter Revisions............................................ 1545-BA72 2393 Guidance on Reporting of Deposit Interest Paid to Nonresident Aliens.................. 1545-BA86 2394 Section 1248 Attribution Principles................................................... 1545-BA93 2395 Guidance To Facilitate Electronic Tax Administration.................................. 1545-BA96 2396 Section 482: Methods To Determine Taxable Income in Connection With a Cost-Sharing 1545-BB26 Arrangement........................................................................... 2397 Application of Separate Limitations to Dividends From Noncontrolled Section 902 1545-BB28 Corporation........................................................................... 2398 Treatment of Services Under Section 482............................................... 1545-BB31 2399 Amendment to Section 6724 Relating to Failure To File Correct Information Returns..... 1545-BB41 2400 Contributions To Purchase Certain Retirement Annuities or Custodial Accounts Under 1545-BB64 Section 403(b)........................................................................ 2401 Notional Principal Contracts; Contingent Nonperiodic Payments......................... 1545-BB82 2402 REMIC Residuals--Timing of Income for Foreign Holders................................. 1545-BB84 2403 Predecessors or Successors Under Section 355(e)....................................... 1545-BB85 2404 Expenses for Household and Dependent Care Services Necessary for Gainful Employment... 1545-BB86 2405 Guidance Regarding Mark-to-Market Valuation for Certain Securities.................... 1545-BB90 2406 Partnership Equity for Services....................................................... 1545-BB92 2407 Accrual for Certain REMIC Regular Interests........................................... 1545-BB94 2408 Entry of Taxable Fuel................................................................. 1545-BC08 2409 Special Consolidated Return Rules for Interest Expense Disallowed Under Section 1545-BC23 265(a)(2)............................................................................. 2410 Guidance Regarding Application of Section 265(a)(2) and 246A in Transactions Involving 1545-BC24 Related Parties, Pass-Through Entities, or Other Intermediaries....................... 2411 Guidance on PFIC Purging Elections.................................................... 1545-BC37 2412 Qualified Severance Regulations....................................................... 1545-BC50 2413 Stewardship Expenses.................................................................. 1545-BC52 2414 Guidance Under Section 707 Regarding Disguised Sales.................................. 1545-BC63 2415 Section 1045 Application to Partnerships.............................................. 1545-BC67 2416 Disclosures to Subcontractors......................................................... 1545-BC92 2417 Solid Waste Disposal Facilities....................................................... 1545-BD04 2418 Public Inspection of Written Determinations Under Section 6110 of the Internal Revenue 1545-BD09 Code (Temporary)...................................................................... 2419 Escrow Accounts, Trusts, and Other Funds Used During Deferred Exchanges of Like-Kind 1545-BD19 Property.............................................................................. 2420 Guidance on Phased Retirement......................................................... 1545-BD23 2421 Coordination of United States and Certain Possessions Income Taxes (Temporary)........ 1545-BD32 2422 HIPAA Portability: Special Enrollment Procedures, Tolling, and Interaction With FMLA.. 1545-BD51 2423 Guidance Under Section 1502; Miscellaneous Operating Rules for Successor Persons; 1545-BD54 Succession to Items of the Liquidating Corporation.................................... 2424 Asset Transfers Following Putative Reorganizations.................................... 1545-BD56 2425 Mandatory e-Filing for Forms 1120..................................................... 1545-BD65 2426 Section 704(b)(2) and Substantiality.................................................. 1545-BD70 2427 Special Rules To Reduce Section 1446 Withholding...................................... 1545-BD80 2428 Dye Injection......................................................................... 1545-BE04 2429 Disclosure of Return Information to the Bureau of the Census.......................... 1545-BE08 2430 Elimination of Country-by-Country Reporting to Shareholders of Foreign Taxes Paid by 1545-BE09 Regulated Investment Companies........................................................ 2431 Circular 230--Covered Opinion Amendments.............................................. 1545-BE13 2432 Capitalization of Amounts Paid To Repair or Improve Tangible Property................. 1545-BE18 [[Page 22986]] 2433 Withholding Exemptions................................................................ 1545-BE20 2434 Section 6011 Regulations.............................................................. 1545-BE24 2435 Section 6111 Regulations.............................................................. 1545-BE26 2436 Section 6112 Regulations.............................................................. 1545-BE28 2437 Guidance Under Subpart F Relating to Partnerships..................................... 1545-BE34 2438 Farmer and Fisherman Income Averaging Under the American Jobs Creation Act of 2004 1545-BE39 (AJCA) (Temporary).................................................................... 2439 Disregarded Entities and Collections.................................................. 1545-BE43 2440 Balanced System for Measuring Organizational and Employee Performance Within the 1545-BE45 Internal Revenue Service.............................................................. 2441 Information Returns Required With Respect to Certain Foreign Corporations and Other 1545-BE47 Conforming Changes.................................................................... 2442 Limitation on Transfer of Built-In Losses............................................. 1545-BE58 2443 Converting an IRA Annuity to a Roth IRA............................................... 1545-BE65 2444 Assumption of Liabilities............................................................. 1545-BE67 2445 Life/Non-Life Tacking Rule............................................................ 1545-BE85 2446 Treatment of Excess Loss Accounts..................................................... 1545-BE87 2447 Railroad Track Maintenance Credit..................................................... 1545-BE90 2448 Guidance Under Section 7874 for Determining Ownership by Former Shareholders or 1545-BE93 Partners of Domestic Entities......................................................... 2449 Capital Costs Incurred To Comply With EPA Sulfur Regulations (Temporary).............. 1545-BE97 2450 Application of Section 338 to Insurance Companies..................................... 1545-BF02 2451 Designated Roth Accounts Under Section 402A........................................... 1545-BF04 2452 Election To Expense Certain Refineries (Temporary).................................... 1545-BF06 2453 Nuclear Decommissioning Costs (Temporary)............................................. 1545-BF09 2454 Charitable Contributions of Certain Motor Vehicles.................................... 1545-BF10 2455 Clean Renewable Energy Bonds (Temporary).............................................. 1545-BF12 2456 Rules Under Section 302 of the Katrina Emergency Tax Relief Act of 2005............... 1545-BF14 2457 Revision of Treasury Regulation Section 1.1561-3 To Comply With Commissioner's e-File 1545-BF16 Program and With the Recommendations of TIGTA Report.................................. 2458 Credit for Production From Advanced Nuclear Power Facilities (Temporary).............. 1545-BF20 2459 Subchapter S Banks.................................................................... 1545-BF24 2460 Section 3121(a)(5)(D) Regulation (Salary Reduction Agreement) (Temporary)............. 1545-BF35 2461 Failure To Maintain List of Advisees With Respect to Reportable Transactions.......... 1545-BF38 2462 Accuracy-Related Penalties............................................................ 1545-BF41 2463 Regulations Under Sections 501(c)(3) and 4958 on Revocation Standards................. 1545-BF44 2464 Application of Separate Limitations to Dividends From Noncontrolled Section 902 1545-BF46 Corporation (Temporary)............................................................... 2465 Special Rules Under Section 7874...................................................... 1545-BF47 2466 Section 1221(a)(4) Capital Asset Exclusion for Accounts and Notes Receivable.......... 1545-BF52 2467 Section 6707 and the Failure To Furnish Information Regarding Reportable Transactions. 1545-BF60 2468 Section 6707A and the Failure To Include on any Return or Statement any Information 1545-BF62 Required To Be Disclosed Under Section 6011 With Respect to a Reportable Transaction.. 2469 Clarification of Section 6411 Regulations............................................. 1545-BF66 2470 Determination of Interest Expense Deduction of Foreign Corporations................... 1545-BF71 2471 Definition of Taxpayer for Purposes of Section 901 and Related Matters................ 1545-BF73 2472 Tax Increase Prevention and Reconciliation Act of 2005 Amendments to Section 199...... 1545-BF79 2473 Return Required by Subchapter T Cooperatives Under Section 6012....................... 1545-BF82 2474 Guidance Regarding Scope of Section 368(a)(1)(D)...................................... 1545-BF83 2475 Source Rules Involving U.S. Possessions and Other Conforming Changes.................. 1545-BF85 2476 Section 181--Deduction for Qualified Film and Television Production Costs............. 1545-BF94 2477 Employer Comparable Contributions to Health Savings Accounts (HSAs)--No HSA Opened.... 1545-BF97 2478 Exclusion of Income From the International Operation of Ships or Aircraft (Temporary). 1545-BG00 2479 Electronic Payment System Mailbox Rule................................................ 1545-BG06 2480 Section 7508A Regulations............................................................. 1545-BG17 2481 Calculating and Apportioning the Section 11(b)(1) Additional Tax Under Section 1561 1545-BG40 for Controlled Groups................................................................. 2482 Qualified Zone Academy Bonds.......................................................... 1545-BG44 2483 Deemed IRAs in Governmental Plans/Qualified Nonbank Trustee Rules..................... 1545-BG46 2484 Employment Tax Adjustments............................................................ 1545-BG51 ---------------------------------------------------------------------------------------------------------------- [[Page 22987]] Internal Revenue Service--Long-Term Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2485 FSC Transfer Pricing Rules, Distributions, Dividends Received, Deduction, and Other 1545-AI16 Special Rules for FSC................................................................. 2486 Income of Foreign Governments and International Organizations......................... 1545-AL93 2487 Caribbean Basin Investments........................................................... 1545-AM91 2488 Consolidated Alternative Minimum Tax.................................................. 1545-AN73 2489 Conforming Taxable Years of CFCs and FPHCs............................................ 1545-AO22 2490 Information Reporting and Record Maintenance.......................................... 1545-AP10 2491 Use of GAAP Earnings as E&P of Foreign Corporations................................... 1545-AQ55 2492 Interest-Free Adjustments............................................................. 1545-AQ61 2493 Definition of Cash Value.............................................................. 1545-AQ70 2494 Allocation of Accrued Benefits Between Employer and Employee Contributions............ 1545-AT82 2495 Foreign Corporations Regulations...................................................... 1545-AT96 2496 Application of Grantor Trust Rules to Nonexempt Employees' Trusts..................... 1545-AU29 2497 Electronic Transmission of Withholding Certificates................................... 1545-AV27 2498 Authorized Placement Agency........................................................... 1545-AY18 2499 Special Rules for S Corporations...................................................... 1545-AY44 2500 Payments For Interest in Partnership.................................................. 1545-AY90 2501 Amendment to the Definition of Refunding.............................................. 1545-BA46 2502 Timely Mailing Treatment.............................................................. 1545-BA99 2503 Toll Telephone Service--Definition.................................................... 1545-BB18 2504 Mixed Use Output Facilities........................................................... 1545-BB23 2505 General Allocation and Accounting Regulations......................................... 1545-BC07 2506 Notarization Requirement for Statements of Purchase................................... 1545-BC11 2507 Contingent at Closing Escrows......................................................... 1545-BC16 2508 Substitute for Return (SFR) and Automated Substitute for Return (ASFR)................ 1545-BC45 2509 Transactions Involving the Transfer of No Net Equity Value............................ 1545-BC88 2510 Revision of Section 301.6103(j)-1 for Disclosure to the Bureau of Economic Analysis, 1545-BC93 Department of Commerce................................................................ 2511 Return for Subchapter T Cooperatives.................................................. 1545-BD92 2512 Employer's Annual Federal Employment Tax Return--Form 944............................. 1545-BD93 2513 Return for Subchapter T Cooperatives (Temporary)...................................... 1545-BD98 2514 Application of Section 6404(g) Suspension Provisions.................................. 1545-BE07 2515 Information Returns by Donees Relating to Qualified Intellectual Property 1545-BE11 Contributions......................................................................... 2516 Definition of Dependent and Other Related Provisions.................................. 1545-BE40 2517 Simplification of Extension Process Under Section 6081................................ 1545-BE62 2518 Foreign Currency Contract Defined..................................................... 1545-BE82 2519 Foreign Currency Contract Defined (Temporary)......................................... 1545-BE83 2520 Procedures for Administrative Review of a Determination That an Authorized Recipient 1545-BF21 Has Failed To Safeguard Federal Tax Returns or Return Information..................... 2521 Revision of Regulations To Comply With Commissioner's e-File Program.................. 1545-BF25 2522 Debt Satisfied by a Partnership Interest.............................................. 1545-BF27 2523 Treatment of Payments in Lieu of Taxes................................................ 1545-BF87 2524 Section 382 Ownership Change.......................................................... 1545-BF99 2525 Taxes on Prohibited Tax Shelter Transactions and Related Disclosure Requirements 1545-BG18 (Section 610 Review).................................................................. 2526 Disclosure Requirements With Respect to Prohibited Tax Shelter Transactions (Section 1545-BG19 610 Review)........................................................................... 2527 Regulations To Prescribe Forms for Payment of Section 4965 Taxes...................... 1545-BG20 2528 Change to Office to Which Notices of Nonjudicial Sale and Request for Return of 1545-BG24 Wrongfully Levied Property Must Be Sent............................................... 2529 Type III Supporting Organization Payout Requirements.................................. 1545-BG31 2530 Partial Payments on Offers in Compromise.............................................. 1545-BG32 2531 Time and Manner for Electing Capital Gain Treatment for Certain Self-Created Musical 1545-BG34 Works................................................................................. 2532 Time and Manner for Electing Capital Gain Treatment for Certain Self-Created Musical 1545-BG35 Works................................................................................. 2533 Notification Requirement for Entities Not Currently Required To File.................. 1545-BG37 2534 Notification Requirement for Entities Not Currently Required To File.................. 1545-BG38 2535 Guidance on Arbitrage................................................................. 1545-BG41 ---------------------------------------------------------------------------------------------------------------- [[Page 22988]] Internal Revenue Service--Completed Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2536 Transportation of Persons and Property by Air......................................... 1545-AW19 2537 Source of Income From Certain Space and Ocean Activities and for Communications Income 1545-AW50 2538 Definition of Accounting Method....................................................... 1545-AX21 2539 Highly Compensated Employee........................................................... 1545-AX48 2540 HIPAA General Nondiscrimination....................................................... 1545-AY32 2541 HIPAA Nondiscrimination Exception for Church Plans.................................... 1545-AY33 2542 HIPAA Nondiscrimination Exception for Bona Fide Wellness Programs..................... 1545-AY34 2543 Communications Excise Tax; Taxable Communication Services............................. 1545-BB04 2544 Allocation of Foreign Tax Credits Among Partners...................................... 1545-BB11 2545 Miscellaneous Changes to Collection Due Process Procedures Relating to Notice and 1545-BB96 Opportunity for Hearing Upon Filing of Notice of Lien................................. 2546 Miscellaneous Changes to Collection Due Process Procedures Relating to Hearings Before 1545-BB97 Levy.................................................................................. 2547 Guidance Necessary To Facilitate Business Electronic Filing........................... 1545-BC15 2548 Changes in Computing Depreciation..................................................... 1545-BC18 2549 Prohibited Allocation of Securities in an S Corporation............................... 1545-BC34 2550 Dual Consolidated Loss Regulations.................................................... 1545-BD10 2551 Underpayment for Qualified Amended Returns............................................ 1545-BD40 2552 Transfers of Restricted Stock (Temporary)............................................. 1545-BD45 2553 Update of 415 Regulations............................................................. 1545-BD52 2554 Use of Electronic Technologies for Providing Notices and Transmitting Elections and 1545-BD68 Consents.............................................................................. 2555 Revision of Section 301.6103(j)-1 for Disclosure to the Bureau of Economic Analysis, 1545-BE02 Department of Commerce (Temporary).................................................... 2556 Regulations Under Section 263A Regarding Use of Simplified Service Cost Method and 1545-BE57 Simplified Production Method.......................................................... 2557 Deferred Compensation (Proposed)...................................................... 1545-BE79 2558 REMIC Residuals--Foreign Holders (Temporary).......................................... 1545-BE81 2559 Revision of Regulation To Comply With the Commissioner's e-File Program (Temporary)... 1545-BF26 2560 Charitable Contributions of Qualified Vehicles (Temporary)............................ 1545-BF29 2561 Depreciation of MACRS Property That Is Acquired in a Like-Kind Exchange or as a Result 1545-BF37 of an Involuntary Conversion.......................................................... 2562 Computer Software Under Section 199(c)(5)(B).......................................... 1545-BF56 2563 Revisions to Regulations Relating to Repeal of Tax on Interest of Nonresident, Alien 1545-BF64 Individuals and Foreign Corporations Received From Certain Portfolio Debt Instruments. 2564 United States Dollar Approximate Separate Transactions Method......................... 1545-BF67 2565 User Fees for Processing Installment Agreements....................................... 1545-BF69 2566 Reporting Rules for Widely Held Fixed Investment Trusts............................... 1545-BF75 2567 Reporting Rules for Widely Held Fixed Investment Trusts............................... 1545-BF86 2568 Tax Increase Prevention and Reconciliation Act of 2005 Amendments to Section 199...... 1545-BF88 2569 Rules Under Section 302 of the Katrina Emergency Tax Relief Act of 2005............... 1545-BF89 2570 Section 181--Deduction for Qualified Film and Television Production Costs............. 1545-BF95 2571 American Jobs Creation Act (AJCA) Modifications to 6011, 6111, and 6112............... 1545-BF98 2572 Residence Involving U.S. Possessions.................................................. 1545-BG02 2573 Section 1.367(a)-8 Revisions (Temporary).............................................. 1545-BG10 2574 Corporate Reorganizations: Guidance on the Measurement of Continuity of Interest...... 1545-BG14 2575 Anti-Avoidance and Anti-Reimportation Rules Applicable Following a Loss on Disposition 1545-BG26 of Stock of Consolidated Subsidiaries................................................. 2576 Corporate Reorganizations; Additional Guidance on Distributions Under Sections 1545-BG29 368(a)(1)(D) and 354(b)(1)(B)......................................................... 2577 Guidance Necessary To Facilitate Business Electronic Filing and Burden Reduction...... 1545-BG49 ---------------------------------------------------------------------------------------------------------------- Office of Thrift Supervision--Proposed Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2578 Securities-Related Activities of Savings Associations................................. 1550-AB92 2579 Procedures To Enhance the Accuracy and Integrity of Information Furnished to Consumer 1550-AC01 Reporting Agencies Under Section 312 of the Fair and Accurate Credit Transactions Act. 2580 Permissible Activities of Savings and Loan Holding Companies.......................... 1550-AC10 [[Page 22989]] 2581 Model Privacy Form Under the Gramm-Leach-Bliley Act................................... 1550-AC12 2582 Recordkeeping Requirements for Savings Association Exceptions From Securities Broker 1550-AC13 or Dealer Registration................................................................ ---------------------------------------------------------------------------------------------------------------- Office of Thrift Supervision--Final Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2583 Implementation of a Revised Basel Capital Accord (Basel II)........................... 1550-AB56 2584 Fair Credit Reporting Affiliate Marketing Regulations................................. 1550-AB90 2585 Identity Theft Detection, Prevention, and Mitigation Program for Financial 1550-AB94 Institutions and Creditors............................................................ 2586 Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Maintenance: Domestic 1550-AB98 Capital Modifications................................................................. 2587 Federal Savings Association Bylaws; Integrity of Directors............................ 1550-AC00 2588 Risk Based Capital--Market Risk Rule.................................................. 1550-AC02 2589 Supplemental Standards of Ethical Conduct for Employees of the Department of Treasury. 1550-AC03 2590 Stock Benefit Plans in Mutual-to-Stock Conversions and Mutual Holding Company 1550-AC07 Structures............................................................................ 2591 Management Official Interlocks........................................................ 1550-AC09 2592 Expanded Examination Cycle for Certain Small Insured Depository Institutions and U.S. 1550-AC11 Branches and Agencies of Foreign Banks................................................ ---------------------------------------------------------------------------------------------------------------- Office of Thrift Supervision--Completed Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2593 Subordinated Debt Securities and Mandatorily Redeemable Preferred Stock............... 1550-AC06 2594 Community Reinvestment Act--Interagency Uniformity.................................... 1550-AC08 ---------------------------------------------------------------------------------------------------------------- _______________________________________________________________________ Department of the Treasury (TREAS) Proposed Rule Stage Departmental Offices (DO) _______________________________________________________________________ 2081. REMOTE LOCATION FILING Priority: Substantive, Nonsignificant Legal Authority: 19 USC 66; 19 USC 1202; 19 USC 1484; 19 USC 1624; 19 USC 1641 CFR Citation: 19 CFR 111; 19 CFR 113; 19 CFR 141; 19 CFR 143 Legal Deadline: None Abstract: Amendment to allow entry filers to electronically file entries of merchandise with the Bureau of Customs and Border Protection from locations other than at the port of arrival of the merchandise or the location of examination of the merchandise. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 03/23/07 72 FR 13714 NPRM Comment Period End 05/22/07 Final Action 10/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1515-AC23 Agency Contact: Marla Bianchetta, Operations Officer, Trade Policy & Programs, Department of the Treasury, Office of International Trade, Customs and Border Protection, 1300 Pennsylvania Avenue, NW., Washington, DC 20229 Phone: 202 344-2693 RIN: 1505-AB20 _______________________________________________________________________ 2082. EXPANDED METHODS OF PAYMENT OF DUTIES, TAXES, INTEREST, AND FEES Priority: Substantive, Nonsignificant Legal Authority: 5 USC 301; 19 USC 197 to 19 USC 198; 19 USC 58a to 58c; 19 USC 66; 19 USC 1202; 19 USC 1450; 19 USC 1624; 31 USC 9701 CFR Citation: 19 CFR 24 Legal Deadline: None Abstract: Amendment to expand the number of ways that the Bureau of Customs and Border Protection will accept payment of duties, taxes, fees, interest, and other charges. Currently, the regulations allow for credit or charge cards, which have been authorized by the Commissioner of the Bureau of Customs and Border Protection (Commissioner), to be used at designated customs-serviced [[Page 22990]] locations with a limitation that this method of payment may only be used by noncommercial entities. Amendment allows credit and charge cards authorized by the Commissioner of CBP to be used for payment of duties, taxes, fees, interest, and other charges not related to formal consumption entries for consumption in United States commerce, warehouse withdrawals or quarterly user fees and by removing the limitation that these methods of payment may only be used for noncommercial entries. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 03/17/99 64 FR 13141 NPRM Comment Period End 05/17/99 Second NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1515-AC40 Agency Contact: Doreen Garrett, Financial Officer, Financial Policy Division, Department of the Treasury, Customs and Border Protection, Office of Finance, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 344-2689 James Mich, Supervisory Financial Officer, Financial Policy Division, Department of the Treasury, Customs and Border Protection, Office of Finance, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 344-2372 RIN: 1505-AB22 _______________________________________________________________________ 2083. UNIFORM RULES OF ORIGIN Priority: Substantive, Nonsignificant Legal Authority: 19 USC 66; 19 USC 1202; 19 USC 1624 CFR Citation: 19 CFR 102 Legal Deadline: None Abstract: Amendment to set forth uniform rules for determining the country of origin of imported goods. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Daniel Cornette, Attorney, Valuation and Special Programs Branch, Department of the Treasury, Regulations and Rulings, Office of International Trade, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 572-8731 RIN: 1505-AB49 _______________________________________________________________________ 2084. REVISION OF OUTBOUND REDELIVERY PROCEDURES AND LIABILITIES Priority: Substantive, Nonsignificant Legal Authority: 19 USC 66; 19 USC 1623; 19 USC 1624 CFR Citation: 19 CFR 113 Legal Deadline: None Abstract: Amendment of the condition in an international carrier bond regarding the unlawful disposition of merchandise in order to allow CBP to better control the exportation of merchandise and to have more control over demands for redelivery. Conditions of the bond would be amended to no longer require the merchandise to be labeled as seized and detained for the principal to be required to obtain permission from CBP prior to placing the merchandise on board a conveyance for export or otherwise disposing of the merchandise. Instead of the condition being applicable when CBP labels merchandise, the condition would be applicable when CBP notifies the principal either in writing or electronically that the merchandise has been seized or detained. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Linda Shoupe, Operations Officer, Department of the Treasury, Customs and Border Protection, Office of Field Operations, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 344-3251 RIN: 1505-AB52 _______________________________________________________________________ 2085. CENTRALIZATION OF THE CONTINUOUS BOND PROGRAM AT THE CBP NATIONAL FINANCE CENTER Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 19 USC 1623 CFR Citation: 19 CFR 101; 19 CFR 113 Legal Deadline: None Abstract: Amendment to reflect CBP's planned centralization of the continuous bond program at the National Finance Center (NFC). Pursuant to this centralization, all continuous bonds would be filed at the NFC via mail, fax, or in an electronic format. The NFC would assume most of the bond functions previously performed at the port level, with the noted exception that the authority to approve single transaction bonds will remain with port directors. These changes would support CBP's bond program by ensuring an efficient and uniform approach to the approval, maintenance, and periodic review of continuous bonds. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Bruce Ingalls, Chief, Debt Management Branch, Department of the Treasury, Office of Finance, 6650 Telecom Drive, Suite 100, Indianapolis, IN 46278 Phone: 317 298-1307 RIN: 1505-AB54 _______________________________________________________________________ 2086. ADMINISTRATIVE RULINGS AND PROTESTS Priority: Substantive, Nonsignificant Legal Authority: 5 USC 301; 19 USC 66; 19 USC 1202 (General Note 3(i), Harmonized Tariff Schedule of the United States); 19 USC 1502; 19 USC 1624; 19 USC 1625; 19 USC 1514; 19 USC 1515; 19 USC 1448; 19 USC 1484; 19 USC 1501; 19 USC 1520; CFR Citation: 19 CFR 177; 19 CFR 174; 19 CFR 173; 19 CFR 142 Legal Deadline: None Abstract: Amendments to implement the administrative rulings process as [[Page 22991]] well as the filing and administrative review of protests against specific decisions of Customs and Border Protection (CBP). Amendments reflect changes to the underlying statutory authority to parts 177 and 174 of title 19 of the CFR made by the Customs Modernization Provisions of the North American Free Trade Agreement (NAFTA) Implementation Act. Proposed changes to part 174 also reflect statutory amendments made by the Miscellaneous Trade and Technical Corrections Act of 1999 regarding protests against decisions on post-importation NAFTA claims and the time required for allowing or denying an application for further review of a protest. Additional changes to part 174 are proposed to reflect statutory amendments made by the Miscellaneous Trade and Technical Corrections Act of 2004 which impact the types of matters that are subject to protest, and extend various protest time limits such as the time to file and amend a protest, the time for a surety to file a protest, and the time to file a request for accelerated disposition of a protest. Other changes proposed serve to modernize, clarify, and enhance current CBP administrative rulings and protest procedures and reflect the nomenclature changes effected by the transfer of CBP to the Department of Homeland Security and the subsequent renaming of the U.S. Customs Service as the Bureau of Customs and Border Protection. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: William G. Rosoff, Chief, Entry Process and Duty Refund Branch, Department of the Treasury, Office of Regulations and Rulings, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 572-8807 Gail Hamill, Chief, Tariff Classification and Marking Branch, Department of the Treasury, Office of Regulations and Rulings, 1300 Pennsylvania Ave, NW., Washington, DC 20229 Phone: 202 572-8810 RIN: 1505-AB65 _______________________________________________________________________ 2087. FOREIGN REPAIRS TO AMERICAN VESSELS; CONSOLIDATION OF VESSEL REPAIR UNITS Priority: Substantive, Nonsignificant Legal Authority: 19 USC 1431; 19 USC 1433; 19 USC 1434; 19 USC 1624; 19 USC 2071 note; 19 USC 66; 46 USC App. 3; 46 USC App. 91; 5 USC 301; 19 USC 1466; 19 USC 1498 CFR Citation: 19 CFR 4.14 Legal Deadline: None Abstract: This document proposes to amend the Customs and Border Protection (``CBP'') regulations governing the location of CBP Vessel Repair Units (``VRUs''). VRUs are responsible for processing vessel repair entries filed by persons required to declare purchases for or repairs to certain vessels while they are outside the United States. As a result of a sustained decrease in the number of vessel repair entries filed, CBP is proposing to consolidate the VRUs by closing the VRUs located in San Francisco and New York and by requiring all vessel repair entries to be filed at the VRU in New Orleans. CBP also is proposing to amend the CBP regulations relating to the declaration, entry, and assessment of duty with regard to vessel repairs and purchases to advise that the enactment and implementation of free trade agreements between the United States and other countries may impact upon the dutiable status of vessel repair expenditures made in foreign countries that are parties to those agreements, and to require that, if a single entry bond is used for a vessel repair entry, the bond must be attached to the entry at the time of submission. In addition, this document proposes to amend the CBP regulations relating to claims for relief from the assessment of vessel repair duties to reflect a 2004 amendment to the vessel repair statute that created an exemption from vessel repair duties for the cost of certain equipment, repair parts, and materials. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Jennifer Dolan, Entry Specialist, Department of the Treasury, Office of Field Operations, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 344-2568 RIN: 1505-AB71 _______________________________________________________________________ 2088. [bull] PROHIBITION ON FUNDING OF UNLAWFUL INTERNET GAMBLING Priority: Substantive, Nonsignificant Legal Authority: 31 USC 321; 31 USC 5361 to 5367 CFR Citation: 31 CFR 132 Legal Deadline: Final, Statutory, July 10, 2007. Abstract: The document implements 31 U.S.C. 5364, which requires Treasury and the Federal Reserve System, in consultation with the Attorney General, to jointly prescribe regulations requiring designated payment systems and all participants therein to identify and block unlawful Internet gambling transactions (hereafter ``restricted transactions'') through the establishment and implementation of reasonably designed policies and procedures. The NPRM would: (1) Designate payment systems; (2) require designated payment systems and participants to establish and implement policies and procedures reasonably designed to identify and block restricted transactions; (3) exempt certain restricted transactions or designated payment systems; and (4) identify types of policies and procedures, including nonexclusive examples, which would be deemed to be reasonably designed to identify and block restricted transactions. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/00/07 NPRM Comment Period End 07/00/07 Final Action 07/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Steven D. Laughton, Senior Counsel, Department of the Treasury, Office of the Assistant General Counsel (Banking and Finance), Room 2027B, 1500 Pennsylvania Avenue, NW., Washington, DC 20220 Phone: 202 622-8413 Email: steven.laughton@do.treas.gov RIN: 1505-AB78 [[Page 22992]] _______________________________________________________________________ Department of the Treasury (TREAS) Final Rule Stage Departmental Offices (DO) _______________________________________________________________________ 2089. REPORTING AND PROCEDURES REGULATIONS; CUBAN ASSETS CONTROL REGULATIONS: PUBLICATION OF ECONOMIC SANCTIONS ENFORCEMENT GUIDELINES Priority: Substantive, Nonsignificant Legal Authority: 21 USC 1901 to 1908; 22 USC 287c; 31 USC 321(b); 50 USC 1701 to 1706; 50 USC app 1-44 CFR Citation: 31 CFR 501; 31 CFR 515 Legal Deadline: None Abstract: The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury is publishing for public comment an updated version of its internal Economic Sanctions Enforcement Guidelines. These Guidelines are being published as separate appendices to two parts of the Code of Federal Regulations: 1) General provisions are being published as an appendix to the Reporting and Procedures Regulations, 31 CFR part 501; and 2) specific provisions focusing on Cuba are being published as an appendix to the Cuban Assets Control Regulations, 31 CFR part 515. To the extent this proposed rule applied to ``banking institutions,'' it is superseded by the interim final rule, `Economic Sanctions Enforcement Procedures for Banking Institutions,' issued by OFAC on January 11, 2006 (71 FR 1971). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/29/03 68 FR 4422 NPRM Comment Period End 03/31/03 Final Action 04/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Chief Of Records, Department of the Treasury, Office of Foreign Assets Control, 1500 Pensylvania Avenue NW., Washington, DC 20220 Phone: 202 622-2530 Fax: 202 622-1657 Related RIN: Related to 1505-AB69 RIN: 1505-AA95 _______________________________________________________________________ 2090. COUNTRY-OF-ORIGIN MARKING Priority: Substantive, Nonsignificant Legal Authority: 5 USC 301; 19 USC 66; 19 USC 1202; 19 USC 1304; 19 USC 1624 CFR Citation: 19 CFR 134 Legal Deadline: None Abstract: Amendments clarify the country-of-origin marking rules set forth in part 134 of the Bureau of Customs and Border Protection Regulations. Amendments promote the concept of informed compliance by the trade and proper field administration of the statutory requirement. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/26/00 65 FR 4193 NPRM Comment Period End 04/26/00 65 FR 17473 Final Action 09/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1515-AC32 Agency Contact: Gail Hamill, Chief, Tariff Classification and Marking Branch, Department of the Treasury, Office of Regulations and Rulings, 1300 Pennsylvania Ave, NW., Washington, DC 20229 Phone: 202 572-8810 RIN: 1505-AB21 _______________________________________________________________________ 2091. USER AND NAVIGATION FEES; OTHER REIMBURSABLE CHARGES Priority: Substantive, Nonsignificant Legal Authority: 5 USC 301; 19 USC 58a to 58c; 19 USC 66; 19 USC 1202; 19 USC 1431; 19 USC 1433; 19 USC 1434; 19 USC 1505; 19 USC 1624; 31 USC 9701; 46 USC 2110 to 2112 CFR Citation: 19 CFR 4; 19 CFR 24; 19 CFR 101 Legal Deadline: None Abstract: Amendment regarding the proper assessment of user and navigation fees, as well as other reimbursement charges for customs services performed in connection with, among other things, the processing of vehicles, vessels, aircraft, and merchandise arriving in the United States. The purpose of the amendment is to conform the regulations with the intent of the customs user fee statute and to reflect existing operational policy and administrative practice in this area. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/01/01 66 FR 21705 NPRM Comment Period End 07/02/01 Final Action 09/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1515-AC63 Agency Contact: Elissa G Kay, CBP Officer, Cargo Control Branch, Department of the Treasury, Office of Field Operations, Customs and Border Protection, 1300 Pennsylvania Ave., NW, Washington, CT 20229 Phone: 202 344-3656 RIN: 1505-AB24 _______________________________________________________________________ 2092. AFRICAN GROWTH AND OPPORTUNITY ACT AND GENERALIZED SYSTEM OF PREFERENCES Priority: Substantive, Nonsignificant Legal Authority: 19 USC 66; 19 USC 1202; 19 USC 1321; 19 USC 1481; 19 USC 1484; 19 USC 1498; 19 USC 1508; 19 USC 1623; 19 USC 1624; 19 USC 2461; 19 USC 3314; 19 USC 3721 CFR Citation: 19 CFR 10; 19 CFR 163 Legal Deadline: Final, Statutory, October 1, 2000, Public Law 106-200. Abstract: Amendments to implement the trade benefit provisions for sub- Saharan Africa contained in title I of the Trade and Development Act of 2000. The trade benefits under title I, also referred to as the African Growth and Opportunity Act, apply to sub-Saharan African countries designated by the President and involve the extension of duty-free treatment under the Generalized System of Preferences (GSP) to nonimport-sensitive, nontextile articles normally excluded from GSP duty-free treatment, and the entry of specific textile and apparel articles free of duty and free of any quantitative limits. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 10/01/00 65 FR 59668 Interim Final Rule Effective 10/05/00 Interim Final Rule Comment Period End 12/04/00 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No [[Page 22993]] Government Levels Affected: None Additional Information: Transferred from RIN 1515-AC72 Agency Contact: Cynthia Reese, Senior Attorney, Office of Regulations and Rulings, Department of the Treasury, Office of International Trade, Customs and Border Protection, 1300 Pennsylvania Ave., NW, Washington, DC 20229 Phone: 202 572-8812 RIN: 1505-AB26 _______________________________________________________________________ 2093. UNITED STATES-CARIBBEAN BASIN TRADE PARTNERSHIP ACT AND CARIBBEAN BASIN INITIATIVE Priority: Substantive, Nonsignificant Legal Authority: 19 USC 66; 19 USC 1202; 19 USC 1321; 19 USC 1481; 19 USC 1484; 19 USC 1498; 19 USC 1508; 19 USC 1623; 19 USC 1624; 19 USC 2701; 19 USC 3314 CFR Citation: 19 CFR 10; 19 CFR 163 Legal Deadline: Final, Statutory, October 1, 2000, Public Law 106-200. Abstract: Amendments to implement the trade benefit provisions for Caribbean Basin countries contained in title II of the Trade and Development Act of 2000. The trade benefits under title II, also referred to as the United States-Caribbean Basin Trade Partnership Act (the CBTPA), apply to Caribbean Basin countries designated by the President and involve the entry of specific textile and apparel articles free of duty and free of any quantitative restrictions, limitations, or consultation levels and the extension of NAFTA duty treatment standards to nontextile articles that are excluded from duty- free treatment under the Caribbean Basin Initiative program. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule Effective 10/01/00 65 FR 59650 Interim Final Rule 10/05/00 65 FR 59650 Interim Final Rule Comment Period End 12/04/00 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1515-AC76 Agency Contact: Cynthia Reese, Senior Attorney, Department of the Treasury, Office of Regulations and Rulings, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 572-8790 RIN: 1505-AB28 _______________________________________________________________________ 2094. REIMBURSABLE CUSTOMS INSPECTIONAL SERVICES--INCREASE IN HOURLY RATE CHARGE Priority: Substantive, Nonsignificant Legal Authority: 5 USC 301; 5 USC 6103; 19 USC 58a to 58c; 19 USC 66; 19 USC 261; 19 USC 267; 19 USC 1202; 19 USC 1450 to 1452; 19 USC 1456; 19 USC 1505; 19 USC 1557; 19 USC 1562; 19 USC 1624; 26 USC 4461; 26 USC 4462; 31 USC 9701; 46 USC 2110 to 2112 CFR Citation: 19 CFR 24; 19 CFR 101 Legal Deadline: None Abstract: Amendment to increase the rate of charge for reimbursable customs inspectional services. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 02/01/01 66 FR 8554 NPRM Comment Period End 04/02/01 Second NPRM 10/09/02 67 FR 62920 Second NPRM Comment Period End 12/09/02 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1515-AC77 Agency Contact: Bruce Ingalls, Chief, Debt Management Branch, Department of the Treasury, Office of Finance, 6650 Telecom Drive, Suite 100, Indianapolis, IN 46278 Phone: 317 298-1307 RIN: 1505-AB29 _______________________________________________________________________ 2095. DOG AND CAT PROTECTION ACT Priority: Substantive, Nonsignificant Legal Authority: 19 USC 66; 19 USC 1202; 19 USC 1308; 19 USC 1592; 19 USC 1593a; 19 USC 1624 CFR Citation: 19 CFR 12; 19 CFR 113; 19 CFR 151; 19 CFR 162 Legal Deadline: Final, Statutory, August 9, 2001, Public Law 106-476. Abstract: Amendment to implement certain provisions of the Dog and Cat Protection Act of 2000. The Dog and Cat Protection Act of 2000 prohibits the importation of any products containing dog or cat fur, and provides for civil and criminal penalties for violations of the Act. Amendment sets forth the prohibitions on dog and cat fur importations and the penalties for violations. Amendment also implements the provision of the Act pertaining to CBP's certification process of commercial laboratories, both domestic and foreign, that can determine if articles intended to be imported into the United States contain dog or cat fur. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/10/01 66 FR 42163 NPRM Comment Period End 10/09/01 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1515-AC87 Agency Contact: Alan Cohen, Attorney-Advisor, Penalties Branch, Department of the Treasury, Office of Regulations and Rulings, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 572-8742 John Pierce, Operations Officer, Commercial Enforcement Branch, Department of the Treasury, Customs and Border Protection, Office of Field Operations, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 344-1539 Renee Stevens, Science Officer, Department of the Treasury, Office of Laboratories and Scientific Services, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 703 621-7714 Jeremy Baskin, Special Assistant, Office of the Assistant Commissioner, Department of the Treasury, Office of Regulations and Rulings, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 572-8753 RIN: 1505-AB31 [[Page 22994]] _______________________________________________________________________ 2096. TRADE BENEFITS UNDER THE AFRICAN GROWTH AND OPPORTUNITY ACT Priority: Substantive, Nonsignificant Legal Authority: 19 USC 66; 19 USC 1202; 19 USC 1321; 19 USC 1481; 19 USC 1484; 19 USC 1498; 19 USC 1508; 19 USC 1623; 19 USC 1624; 19 USC 3721; 19 USC 3314 CFR Citation: 19 CFR 10 Legal Deadline: None Abstract: Amendment to those provisions of the Customs and Border Protection Regulations that implement the trade benefit provisions for sub-Saharan African countries contained in the African Growth and Opportunity Act (the AGOA). Amendments involve the textile and apparel provisions of the AGOA and in part reflect changes to those statutory provisions by section 3108 of the Trade Act of 2002. The specific statutory changes involve the amendment of several provisions to clarify the status of apparel articles assembled from knit-to-shape components, the inclusion of a specific reference to apparel articles formed on seamless knitting machines, a change of the wool fiber diameter specified in one provision, and the addition of a new provision to cover additional production scenarios involving the United States and AGOA beneficiary countries. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 03/21/03 68 FR 13820 Interim Final Rule Effective 03/21/03 Interim Final Rule Comment Period End 05/20/03 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1515-AD20 Agency Contact: Robert Abels, Operations Officer, Textiles, Department of the Treasury, Office of International Trade, Customs and Border Protection, 1300 Pennyslvania Avenue NW., Washington, DC 20229 Phone: 202 344-1959 Cynthia Reese, Senior Attorney, Department of the Treasury, Office of Regulations and Rulings, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 572-8790 RIN: 1505-AB38 _______________________________________________________________________ 2097. FEES FOR CUSTOMS PROCESSING AT EXPRESS CONSIGNMENT CARRIER FACILITIES Priority: Substantive, Nonsignificant Legal Authority: 5 USC 301; 19 USC 58a to 58c; 19 USC 66; 19 USC 1202; 19 USC 1505; 19 USC 261; 19 USC 267; 19 USC 1450 to 1452; 19 USC 1456; 19 USC 1524; 19 USC 1557; 19 USC 1562; 19 USC 1624; 26 USC 4461; 26 USC 4462; 19 USC 3332; 46 USC 2110 to 2112 CFR Citation: 19 CFR 24; 19 CFR 113; 19 CFR 128 Legal Deadline: None Abstract: Amendment to implement amendments to the customs user fee statute made by section 337 of the Trade Act of 2002 and section 2004(f) of the Miscellaneous Trade and Technical Corrections Act of 2004. Statutory amendments made by section 337 concern the fees payable for customs services provided in connection with the informal entry or release of shipments at express consignment carrier facilities and centralized hub facilities, and primarily serve to replace the annual lump sum payment procedure with a quarterly payment procedure based on a specific fee for each individual air waybill or bill of lading. Section 2004(f) amended the user fee statute to authorize, for merchandise that is formally entered at these sites, the assessment of merchandise processing fees provided for in 19 U.S.C. 58c(a)(9), in addition to the fees that are currently assessed on individual air waybills or bills of lading. Lastly, pursuant to the authority established in 19 U.S.C. 58c(b)(9)(B)(i), this document proposes to raise the existing $0.66 fee assessed on individual air waybills or bills of lading to $1.00 to more equitably align it with the actual costs incurred by CBP in processing these items. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/28/06 71 FR 42778 NPRM Comment Period End 08/28/06 Final Action 04/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1515-AD21 Agency Contact: Michael L. Jackson, Operations Officer, Trade Enforcement and Facilitation, Department of the Treasury, Customs and Border Protection, Office of Field Operations, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 344-1196 RIN: 1505-AB39 _______________________________________________________________________ 2098. TRADE BENEFITS UNDER THE CARIBBEAN BASIN ECONOMIC RECOVERY ACT Priority: Substantive, Nonsignificant Legal Authority: 19 USC 66; 19 USC 1202; 19 USC 1321; 19 USC 1481; 19 USC 1484; 19 USC 1498; 19 USC 1508; 19 USC 1623; 19 USC 1624; 19 USC 2701; 19 USC 3314 CFR Citation: 19 CFR 10 Legal Deadline: None Abstract: Amendment to implement the trade benefits for Caribbean Basin countries contained in section 213(b) of the Caribbean Basin Economic Recovery Act (the CBERA). Amendments involve the textile and apparel provisions of section 213(b) and in part reflect changes made to those statutory provisions by section 3107 of the Trade Act of 2002. The specific statutory changes involve the amendment of several provisions to clarify the status of apparel articles assembled from knit-to-shape components, the addition of language requiring any dyeing, printing, and finishing of certain fabrics to be done in the United States, the inclusion of exception language in the brassieres provision regarding articles entered under other CBERA apparel provisions, the addition of a provision permitting the dyeing, printing, and finishing of thread in the Caribbean region, and the addition of a new provision to cover additional production scenarios involving the United States and the Caribbean region. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 03/21/03 68 FR 13827 Interim Final Rule Effective 03/21/03 [[Page 22995]] Interim Final Rule Comment Period End 05/20/03 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1515-AD22 Agency Contact: Robert Abels, Operations Officer, Textiles, Department of the Treasury, Office of International Trade, Customs and Border Protection, 1300 Pennyslvania Avenue NW., Washington, DC 20229 Phone: 202 344-1959 Cynthia Reese, Senior Attorney, Department of the Treasury, Office of Regulations and Rulings, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 572-8790 RIN: 1505-AB40 _______________________________________________________________________ 2099. UNITED STATES--SINGAPORE FREE TRADE AGREEMENT Priority: Substantive, Nonsignificant Legal Authority: 19 USC 3805 note; 19 USC 1202; 19 USC 66; 19 USC 1624; CFR Citation: 19 CFR 10; 19 CFR 12; 19 CFR 24; 19 CFR 163; Legal Deadline: Final, Statutory, January 1, 2005, U.S.-Singapore Free Trade Agreement Implementation Act. Abstract: Amendment to implement the preferential tariff treatment and other customs-related provisions of the Free Trade Agreement entered into by the United States and the Republic of Singapore. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 04/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Robert Abels, Operations Officer, Textiles, Department of the Treasury, Office of International Trade, Customs and Border Protection, 1300 Pennyslvania Avenue NW., Washington, DC 20229 Phone: 202 344-1959 RIN: 1505-AB48 _______________________________________________________________________ 2100. RECORDATION OF COPYRIGHTS AND ENFORCEMENT PROCEDURES TO PREVENT IMPORTATION OF PIRATICAL ARTICLES Priority: Substantive, Nonsignificant Legal Authority: 15 USC 1124; 15 USC 1125; 17 USC 101; 17 USC 106; 17 USC 501; 19 USC 66; 19 USC 1499; 19 USC 1595a; 17 USC 1201(b); 18 USC 2319A; CFR Citation: 19 CFR 133 Legal Deadline: None Abstract: This amendment will allow CBP to be more responsive to claims of piracy. Amendment would allow sound recordings and motion pictures or similar audio-visual works to be recorded with CBP while pending registration with the U.S. Copyright Office. Amendment would also enhance the protection of all non-U.S. works by allowing recordation without requiring registration with the U.S. Copyright Office. Amendment would also set forth changes to CBP's enforcement procedures, including, among other things, enhanced disclosure provisions, protection for live musical performances and provisions to enforce the Digital Millennium Copyright Act. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 10/05/04 69 FR 59562 NPRM Comment Period End 11/04/04 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: George F. McCray, Chief, IPR & Restricted Merchandise Branch, Department of the Treasury, Office of Regulations and Rulings, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 572-8709 Paul Pizzeck, Attorney, IPR & Restricted Merchandise Branch, Department of the Treasury, Office of Regulations and Rulings, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 572-8710 RIN: 1505-AB51 _______________________________________________________________________ 2101. NAFTA: MERCHANDISE PROCESSING FEE EXEMPTION AND TECHNICAL CORRECTIONS Priority: Substantive, Nonsignificant Legal Authority: 19 USC 66; 19 USC 1202; 19 USC 1624; 19 USC 3314 CFR Citation: 19 CFR 181 Legal Deadline: None Abstract: The document proposes to amend the regulations in title 19, Code of Federal Regulations (CFR), regarding claims for the exemption of the Merchandise Processing Fee (MPF). The NPRM would clarify that an importer is subject to the same declaration requirement that is established for claiming NAFTA duty preference in order to claim the exemption of the MPF for goods that meet a NAFTA rule of origin even when the goods are unconditionally free. In addition, the NPRM would make several technical corrections to the regulations, for example, the amendment clarifies that a Certificate of Origin is not required for a commercial importation for which the total value of originating goods does not exceed $2,500. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/23/06 71 FR 49391 NPRM Comment Period End 10/23/06 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Seth Mazze, CBP Officer, Trade Agreements Branch, Department of the Treasury, Office of International Trade, Customs and Border Protection, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 344-2634 RIN: 1505-AB58 _______________________________________________________________________ 2102. COUNTRY OF ORIGIN OF TEXTILE AND APPAREL PRODUCTS Priority: Substantive, Nonsignificant Legal Authority: 5 USC 301; 19 USC 66; 19 USC 1202; 19 USC 1624; 19 USC 3314; 19 USC 3592 CFR Citation: 19 CFR 12; 19 CFR 102; 19 CFR 141; 19 CFR 144; 19 CFR 146; 19 CFR 163 Legal Deadline: None Abstract: Amendment of the CBP regulations to update, restructure and [[Page 22996]] consolidate the regulations relating to the country of origin of textile and apparel products. Amendments reflect changes brought about, in part, by the expiration on January 1, 2005, of the Agreement on Textiles and Clothing and the resulting elimination of quotas on the entry of textile and apparel products from World Trade Organization members. The primary regulatory change is the elimination of the requirement that a textile declaration be submitted for all importations of textile and apparel products. In addition, to improve the quality of reporting of the manufacturer of imported textiles and apparel products, the amendments include a requirement that importers identify the manufacturer of such products through a manufacturer identification code. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 10/05/05 70 FR 58009 Interim Final Rule Comment Period End 12/05/05 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Cynthia Reese, Senior Attorney, Office of Regulations and Rulings, Department of the Treasury, Office of International Trade, Customs and Border Protection, 1300 Pennsylvania Ave., NW, Washington, DC 20229 Phone: 202 572-8812 Robert Abels, Operations Officer, Textiles, Department of the Treasury, Office of International Trade, Customs and Border Protection, 1300 Pennyslvania Avenue NW., Washington, DC 20229 Phone: 202 344-1959 RIN: 1505-AB60 _______________________________________________________________________ 2103. DOMINICAN REPUBLIC-CENTRAL AMERICA-UNITED STATES FREE TRADE AGREEMENT Priority: Substantive, Nonsignificant Legal Authority: 19 USC 66; 19 USC 1202; 19 USC 1624; 19 USC 4001 CFR Citation: 19 CFR 10 Legal Deadline: Final, Statutory, January 1, 2006, PL 109-53. Abstract: Amendment of CBP regulations to set forth the conditions and requirements that apply for purposes of submitting requests to CBP for refunds of any excess customs duties paid with respect to entries of textile or apparel goods entitled to retroactive application of preferential tariff treatment under the Dominican Republic-Central American-United States Free Trade Agreement. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 03/07/06 71 FR 11304 Interim Final Rule Effective 03/07/06 Interim Final Rule Comment Period End 05/08/06 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Robert Abels, Operations Officer, Textiles, Department of the Treasury, Office of International Trade, Customs and Border Protection, 1300 Pennyslvania Avenue NW., Washington, DC 20229 Phone: 202 344-1959 Cynthia Reese, Senior Attorney, Office of Regulations and Rulings, Department of the Treasury, Office of International Trade, Customs and Border Protection, 1300 Pennsylvania Ave., NW, Washington, DC 20229 Phone: 202 572-8812 RIN: 1505-AB64 _______________________________________________________________________ 2104. ENTRY OF CERTAIN CEMENT PRODUCTS FROM MEXICO REQUIRING A COMMERCE DEPARTMENT IMPORT LICENSE Priority: Substantive, Nonsignificant Legal Authority: 5 USC 301; 19 USC 66; 19 USC 1202; 19 USC 1624; 19 USC 1673 CFR Citation: 19 CFR 12.155; 19 CFR 306.201 to 205 Legal Deadline: None Abstract: This document proposes to amend title 19 of the Code of Federal Regulations to set forth special requirements for the entry of certain cement products from Mexico requiring a United States Department of Commerce import license. The cement products in question are those listed in the Agreement Between the Office of the United States Trade Representative, the United States Department of Commerce, and Mexico's Secretaria de Economia on Trade in Cement, dated March 6, 2006. The changes proposed in this document require the inclusion of an import license number on the entry summary documentation filed with Customs and Border Protection for any cement product for which the United States Department of Commerce requires under its cement licensing and import monitoring program as well as a valid Mexican export license with the entry documentation for cement covered by the Agreement on Trade in Cement. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/01/06 71 FR 31125 NPRM Comment Period End 06/21/06 Final Action 04/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None URL For More Information: www.ia.ita.doc.gov/download/mexico-cement/cement-final-agreement.pdf Agency Contact: Alice Buchanan, Office of Field Operations, Department of the Treasury, 1301 Constitution Avenue NW., Washington, DC 20229 Phone: 202 344-2697 Related RIN: Related to 0625-AA70 RIN: 1505-AB68 _______________________________________________________________________ 2105. ECONOMIC SANCTIONS ENFORCEMENT PROCEDURES FOR BANKING INSTITUTIONS Priority: Substantive, Nonsignificant Legal Authority: 18 USC 2332d; 21 USC 1901 to 1908; 22 USC 287c; 22 USC 2370(a); 31 USC 321(b); 50 USC 1701 to 1706; 50 USC app 1 to 44; PL 101-410 (28 USC 2461 note); EO 9193; EO 9989; EO 12854 CFR Citation: 31 CFR 501 Legal Deadline: None Abstract: This interim final rule supercedes the proposed rule issued by the Office of Foreign Assets Control (OFAC) on January 29, 2003 (68 FR 4422) to the extent that the proposed rule applied to ``banking institutions,'' as defined in the interim final rule. These administrative procedures are published as an appendix to OFAC's [[Page 22997]] Reporting, Procedures and Penalties Regulations (31 CFR 501). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 01/11/06 71 FR 1971 Interim Final Rule Comment Period End 03/13/06 Final Rule 04/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Assistant Director Of Records, Department of the Treasury, Office of Foreign Assets Control, 1500 Pennsylvania Avenue NW.--Annex, Washington, DC 20220 Phone: 202 622-2530 Fax: 202 522-1657 Related RIN: Related to 1505-AA95 RIN: 1505-AB69 _______________________________________________________________________ 2106. [bull] ENTRY OF CERTAIN SOFTWOOD LUMBER PRODUCTS FROM CANADA REQUIRING AN EXPORT PERMIT Priority: Substantive, Nonsignificant Legal Authority: 5 USC 301; 19 USC 66; 19 USC 1202 (General Note 3(i), Harmonized Tariff Schedule of the United States (HTSUS)); 19 USC 1624; CFR Citation: 19 CFR 12.140 Legal Deadline: None Abstract: This document adopts interim amendments to title 19 of the Code of Federal Regulations establishing additional entry requirements applicable to shipments of softwood lumber from Canada. The interim amendments involve the collection of certain additional information for purposes of monitoring and enforcing an agreement dated September 12, 2006, between the Governments of the United States and Canada regarding trade in softwood lumber. The scope of the bilateral Softwood Lumber Agreement is limited to the softwood lumber products listed as covered by the Agreement in Annex 1A of that document, which is available for public viewing on the website of the Office of the United States Trade Representative located at www.ustr.gov. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 10/18/06 71 FR 61399 Interim Final Rule Effective 10/18/06 Interim Final Rule Comment Period End 12/18/06 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Millie Gleason, Special Enforcement Specialist, Department of the Treasury, Customs and Border Protection, Office of Field Operations, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 344-1131 RIN: 1505-AB73 _______________________________________________________________________ 2107. [bull] UNITED STATES--JORDAN FREE TRADE AGREEMENT Priority: Substantive, Nonsignificant Legal Authority: 19 USC 2112 note; 19 USC 1202; 19 USC 66; 19 USC 1624; CFR Citation: 19 CFR 10; 19 CFR 163; Legal Deadline: None Abstract: Amends title 19 of the Code of Federal Regulations (CFR) on an interim basis to implement the preferential tariff treatment and other customs-related provisions of the U.S.- Jordan Free Trade Agreement entered into by the United States and the Hashemite Kingdom of Jordan. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 04/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Seth Mazze, CBP Officer, Trade Agreements Branch, Department of the Treasury, Office of International Trade, Customs and Border Protection, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 344-2634 RIN: 1505-AB75 _______________________________________________________________________ 2108. [bull] UNITED STATES--MOROCCO FREE TRADE AGREEMENT Priority: Substantive, Nonsignificant Legal Authority: 19 USC 3805 note; 19 USC 1202 (General Note 27); 19 USC 66; 19 USC 1624; . . . CFR Citation: 19 CFR 10, subpart M; 19 CFR 162; 19 CFR 163; 19 CFR 178; Legal Deadline: Final, Statutory, January 1, 2007, United States-- Morocco Free Trade Agreement Implementation Act, PL 108-302 (08/17/ 2004). Section 205 of the United States--Morocco Free Trade Agreement Implementation Act, Pub. L. 108-302, 118 Stat. 1103 (19 USC 3805 note), August 17, 2004, requires that intial regulations shall, to the maximum extent feasible, be issued within 1 year after the date of entry into force of the Agreement. The US-MFTA entered into force on 01/01/2006. Abstract: Amendment to the Customs and Border Protection regulations on an interim basis to implement the preferential tariff treatment and other customs-related provisions of the United States - Morocco Free Trade Agreement entered into by the United States and the Kingdom of Morocco. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 04/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Robert Abels, Operations Officer, Textiles, Department of the Treasury, Office of International Trade, Customs and Border Protection, 1300 Pennyslvania Avenue NW., Washington, DC 20229 Phone: 202 344-1959 Seth Mazze, CBP Officer, Trade Agreements Branch, Department of the Treasury, Office of International Trade, Customs and Border Protection, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 344-2634 Mark Hanson, Auditor, Regulatory Audit Division, Department of the Treasury, Office of International Trade, Customs and Border Protection, 1300 Pennslyvania Avenue NW., Washington, DC 20229 Phone: 202 863-6035 Daniel Cornette, Attorney, Valuation and Special Programs Branch, Department of the Treasury, Regulations and Rulings, Office of International Trade, 1300 Pennsylvania Avenue NW., Washington, DC 20229 [[Page 22998]] Phone: 202 572-8731 RIN: 1505-AB76 _______________________________________________________________________ 2109. [bull] UNITED STATES--AUSTRALIA FREE TRADE AGREEMENT Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 19 USC 1202 (General Note 28 and 3(i), Harmonized Tariff Schedule of the United States); 19 USC 66; 19 USC 1624; 19 USC 3805 note; CFR Citation: 19 CFR 10, Subpart L; 19 CFR 24; 19 CFR 162; 19 CFR 163; 19 CFR 178 Legal Deadline: Final, Statutory, January 1, 2006, United States- Australia Free Trade Agreement Implementation Act, PL 108-286 (08/03/ 2004). Section 207 of the United States-Australia Free Trade Agreement Implementation Act, Pub. L. 108-286, 118 Stat. 919 (19 USC 3805 note), August 3, 2004, requires that intial regulations shall, to the maximum extent feasible, be issued within 1 year after the date of entry into force of the Agreement. The US-Australia Free Trade Agreement, which was signed on 05/18/2004, entered into force on 01/01/2005. Abstract: This rule amends title 19 of the Code of Federal Regulations on an interim basis to implement the preferential tariff treatment and other customs-related provisions of the U.S.-Australia Free Trade Agreement entered into the United States and the Commonwealth of Australia. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Robert Abels, Operations Officer, Textiles, Department of the Treasury, Office of International Trade, Customs and Border Protection, 1300 Pennyslvania Avenue NW., Washington, DC 20229 Phone: 202 344-1959 Lori J Whitehurst, CBP Officer, Department of the Treasury, Office of International Trade, Customs and Border Protection, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 344-2722 Mark Hanson, Auditor, Regulatory Audit Division, Department of the Treasury, Office of International Trade, Customs and Border Protection, 1300 Pennslyvania Avenue NW., Washington, DC 20229 Phone: 202 863-6035 Karen Greene, Senior Attorney, Office of Regulations and Rulings, Department of the Treasury, Office of International Trade, Bureau of Customs and Border Protection, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 572-8838 RIN: 1505-AB77 _______________________________________________________________________ 2110. [bull] EXTENSION OF IMPORT RESTRICTIONS IMPOSED ON ARCHAEOLOGICAL AND ETHNOLOGICAL MATERIAL FROM PERU Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 5 USC 301; 19 USC 66; 19 USC 1202 (General Note 3(i), Harmonized Tariff Schedule of the United States); 19 USC 1624; 19 USC 2612; CFR Citation: 19 CFR 12.104g(a) Legal Deadline: Final, Statutory, June 9, 2007, 19 USC 2606(e). Abstract: This document amends Title 19 of the Code of Federal Regulations (19 CFR) to reflect the extension of the import restrictions on archaeological and ethnological materials from Peru that were imposed by Treasury Decision (T.D.) 97-50 and extended by T.D. 02-30. The Assistant Secretary for Educational and Cultural Affairs, United States Department of State, has determined that conditions continue to warrant the imposition of import restrictions. Accordingly, the restrictions will remain in effect for an additional 5 years, and Title 19 of the CFR is being amended to reflect this extension until June 9, 2012. These restrictions are being extended pursuant to determinations of the United States Department of State made under the terms of the Convention on Cultural Property Implementation Act in accordance with the United Nations Educational, Scientific and Cultural Organization (UNESCO) Convention on the Means of Prohibiting and Preventing the Illicit Import, Export and Transfer of Ownership of Cultural Property. T.D. 97-50 contains the Designated List of archaeological and ethnological materials from Peru. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: George F. McCray, Chief, IPR & Restricted Merchandise Branch, Department of the Treasury, Office of Regulations and Rulings, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 572-8709 Michael Craig, Chief, Other Government Agency Branch, Department of the Treasury, Commercial Targeting and Enforcement, Office of International Trade, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 344-1684 RIN: 1505-AB79 _______________________________________________________________________ 2111. [bull] EXTENSION OF IMPORT RESTRICTIONS IMPOSED ON PRE-CLASSICAL AND CLASSICAL ARCHAEOLOGICAL MATERIAL AND BYZANTINE ECCLESIASTICAL AND RITUAL ETHNOLOGICAL MATERIAL FROM CYPRUS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 5 USC 301; 19 USC 66; 19 USC 1202 (General Note 3(i), Harmonized Tariff Schedule of the United States); 19 USC 1624; 19 USC 2612; CFR Citation: 19 CFR 12.104g(a) Legal Deadline: Final, Statutory, July 16, 2007, 19 USC 2602(e). Abstract: This document amends Title 19 of the Code of Federal Regulations (19 CFR) to reflect the extension of the import restrictions on archaeological and ethnological materials from Cyprus that were imposed by Treasury Decision (T.D.) 02-37 and CBP Dec. 06-22. The Assistant Secretary for Educational and Cultural Affairs, United States Department of State, has determined that conditions continue to warrant the imposition of import restrictions. Accordingly, the [[Page 22999]] restrictions will remain in effect for an additional 5 years, and Title 19 of the CFR is being amended to reflect this extension until July 16, 2012. These restrictions are being extended pursuant to determinations of the United States Department of State made under the terms of the Convention on Cultural Property Implementation Act in accordance with the United Nations Educational, Scientific and Cultural Organization (UNESCO) Convention on the Means of Prohibiting and Preventing the Illicit Import, Export and Transfer of Ownership of Cultural Property. A Designated List of archaeological and ethnological materials from Cyprus is contained within the document. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action 07/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: George F. McCray, Chief, IPR & Restricted Merchandise Branch, Department of the Treasury, Office of Regulations and Rulings, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 572-8709 Michael Craig, Chief, Other Government Agency Branch, Department of the Treasury, Commercial Targeting and Enforcement, Office of International Trade, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 344-1684 RIN: 1505-AB80 _______________________________________________________________________ Department of the Treasury (TREAS) Long-Term Actions Departmental Offices (DO) _______________________________________________________________________ 2112. POSSIBLE REGULATION OF ACCESS TO ACCOUNTS AT FINANCIAL INSTITUTIONS THROUGH PAYMENT SERVICE PROVIDERS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. CFR Citation: 31 CFR Ch II Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 01/08/99 64 FR 1149 ANPRM Comment Period End 04/08/99 Next Action Undetermined Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Donna Felmlee Phone: 202 622-1808 RIN: 1505-AA74 _______________________________________________________________________ 2113. FINANCIAL SUBSIDIARIES Priority: Substantive, Nonsignificant CFR Citation: Not Yet Determined Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Martha Ellett Phone: 202 622-2983 Fax: 202 622-1974 Email: martha.ellett@do.treas.gov RIN: 1505-AA81 _______________________________________________________________________ 2114. SECRETARY'S DETERMINATION OF REAL ESTATE BROKERAGE Priority: Substantive, Nonsignificant CFR Citation: 12 CFR 1501.2 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/03/01 66 FR 307 NPRM Comment Period End 03/02/01 NPRM Comment Period Extended 05/01/01 66 FR 12440 Next Action Undetermined Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Martha Ellett Phone: 202 622-2983 Fax: 202 622-1974 Email: martha.ellett@do.treas.gov RIN: 1505-AA84 _______________________________________________________________________ 2115. TERRORISM RISK INSURANCE PROGRAM; RECOUPMENTS OF FEDERAL SHARE OF COMPENSATION FOR INSURED LOSSES Priority: Other Significant CFR Citation: 31 CFR 50 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM To Be Determined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Howard Leikin Phone: 202 622-6770 Email: howard.leikin@do.treas.gov RIN: 1505-AB10 _______________________________________________________________________ 2116. HARBOR MAINTENANCE FEE Priority: Substantive, Nonsignificant CFR Citation: 19 CFR 4; 19 CFR 24; 19 CFR 146; 19 CFR 178 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule Effective 03/01/87 Interim Final Rule 03/30/87 52 FR 10198 Interim Final Rule Comment Period End 05/29/87 Final Action To Be Determined Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Deborah Thompson Phone: 317 614-4511 RIN: 1505-AB11 _______________________________________________________________________ 2117. DONATED CARGO EXEMPTION FROM HARBOR MAINTENANCE FEE Priority: Substantive, Nonsignificant CFR Citation: 19 CFR 24 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 01/08/92 57 FR 607 Interim Final Rule Effective 01/08/92 Interim Final Rule Comment Period End 03/09/92 Final Action To Be Determined [[Page 23000]] Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Deborah Thompson Phone: 317 614-4511 RIN: 1505-AB12 _______________________________________________________________________ 2118. RECONCILIATION Priority: Substantive, Nonsignificant CFR Citation: 19 CFR 142; 19 CFR 159 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM To Be Determined Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: John Leonard Phone: 202 344-2687 RIN: 1505-AB16 _______________________________________________________________________ 2119. NORTH AMERICAN FREE TRADE AGREEMENT (NAFTA)--IMPLEMENTATION OF DUTY-DEFERRAL PROGRAM PROVISIONS Priority: Substantive, Nonsignificant CFR Citation: 19 CFR 181; 19 CFR 113; 19 CFR 141; 19 CFR 144; 19 CFR 10 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule Effective 01/01/96 Interim Final Rule 01/30/96 61 FR 2908 Interim Final Rule Comment Period End 04/01/96 Final Action To Be Determined Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Shawn Filion Phone: 716 551-3053 RIN: 1505-AB17 _______________________________________________________________________ Department of the Treasury (TREAS) Completed Actions Departmental Offices (DO) _______________________________________________________________________ 2120. UNITED STATES--CHILE FREE TRADE AGREEMENT Priority: Substantive, Nonsignificant CFR Citation: 19 CFR 10; 19 CFR 12; 19 CFR 24; 19 CFR 163; Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action 12/20/06 71 FR 76127 Final Action Effective 01/19/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Robert Abels Phone: 202 344-1959 RIN: 1505-AB47 _______________________________________________________________________ 2121. CONDITIONAL RELEASE PERIOD AND CUSTOMS BOND OBLIGATIONS FOR FOOD, DRUGS, DEVICES, AND COSMETICS Priority: Substantive, Nonsignificant CFR Citation: 19 CFR 141; 19 CFR 151 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action 01/31/07 72 FR 4423 Final Action Effective 05/01/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Jeremy Baskin Phone: 202 572-8753 RIN: 1505-AB57 _______________________________________________________________________ 2122. FEES FOR CERTAIN SERVICES Priority: Substantive, Nonsignificant CFR Citation: 19 CFR 24 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action 01/26/07 72 FR 3730 Final Action Effective 04/01/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Jerry Petty Phone: 202 344-1317 RIN: 1505-AB62 _______________________________________________________________________ 2123. [bull] EXTENSION OF IMPORT RESTRICTIONS IMPOSED ON ARCHAEOLOGICAL AND ETHNOLOGICAL MATERIAL FROM BOLIVIA Priority: Substantive, Nonsignificant Legal Authority: 5 USC 301; 19 USC 66; 19 USC 1202 (General Note 3(i), Harmonized Tariff Schedule of the United States (HTSUS)) ; 19 USC 1624; 19 USC 2612 CFR Citation: 19 CFR 12.104g(a) Legal Deadline: Final, Statutory, December 4, 2006, 19 USC 2602(e). Abstract: This document amends title 19 of the Code of Federal Regulations (19 CFR) to reflect the extension of the import restrictions on certain archaeological and ethnological material from Bolivia that were imposed by Treasury Decision (T.D.) 01-86. The Assistant Secretary for Educational and Cultural Affairs, United States Department of State, has determined that conditions continue to warrant the imposition of import restrictions. Accordingly, the restrictions will remain in effect for an additional 5 years, and title 19 of the CFR is being amended to reflect this extension until December 4, 2011. These restrictions are being extended pursuant to determinations of the United States Department of State made under the terms of the Convention on Cultural Property Implementation Act in accordance with the United Nations Educational, Scientific and Cultural Organization (UNESCO) Convention on the Means of Prohibiting and Preventing the Illicit Import, Export and Transfer of Ownership of Cultural Property. T.D. 01-86 contains the Designated List of archaeological and ethnological material from Bolivia. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action 12/01/06 71 FR 69477 Final Action Effective 12/04/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: George F. McCray, Chief, IPR & Restricted Merchandise Branch, Department of the Treasury, Office of Regulations and Rulings, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 572-8709 [[Page 23001]] Michael Craig, Chief, Other Government Agency Branch, Department of the Treasury, Commercial Targeting and Enforcement, Office of International Trade, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 344-1684 RIN: 1505-AB74 BILLING CODE 4810--02--S _______________________________________________________________________ Department of the Treasury (TREAS) Prerule Stage Financial Crimes Enforcement Network (FINCEN) _______________________________________________________________________ 2124. CUSTOMER IDENTIFICATION PROGRAMS FOR PAWN BROKERS Priority: Substantive, Nonsignificant Legal Authority: PL 107-56, sec 326 CFR Citation: Not Yet Determined Legal Deadline: None Abstract: This regulation will require pawnbrokers to adopt and implement reasonable procedures to verify the identity of any person seeking to open an account, to the extent reasonable and practicable; maintain records of the information used to verify the person's identity; and determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to them by any Government agency. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Russell Stephenson, Senior Compliance Specialist, Department of the Treasury, Financial Crimes Enforcement Network, Suite 4600E, 1099 14th Street NW., Washington, DC 20005 Phone: 202 354-6012 Fax: 202 354-6411 Email: russell.stephenson@fincen.gov RIN: 1506-AA39 _______________________________________________________________________ 2125. PROVISION OF BANKING SERVICES TO MONEY SERVICES BUSINESSES Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 31 USC P L 107-56 Bank Secrecy Act CFR Citation: 31 CFR 103 Legal Deadline: None Abstract: We are issuing this advance notice of proposed rulemaking (``Advance Notice'') as a part of our ongoing effort to address, in the context of the Bank Secrecy Act, the issue of access to banking services by money services businesses. Both the banking industry and the money service business industry have expressed concerns with regard to the impact of Bank Secrecy Act regulations on the ability of money service businesses to open and maintain accounts and obtain other financial services at banks and other depository institutions. Due to the concerns about the effect of regulatory requirements on the provision of banking services to money services businesses, we, through the Non-Bank Financial Institutions and the Examinations subcommittees of the Bank Secrecy Act Advisory Group, held a fact-finding meeting on March 8, 2005, to hear directly from banks, other depository institutions, and money services businesses concerning the challenges that they face on this issue. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None URL For Public Comments: regcomments@fincen.gov Agency Contact: Office of Regulatory Policy & Programs, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street NW., Suite 4600, Washington, DC 20005 Phone: 202 654-6400 RIN: 1506-AA85 _______________________________________________________________________ Department of the Treasury (TREAS) Proposed Rule Stage Financial Crimes Enforcement Network (FINCEN) _______________________________________________________________________ 2126. CUSTOMER IDENTIFICATION PROGRAMS FOR TRAVEL AGENTS Priority: Substantive, Nonsignificant Legal Authority: PL 107-56, sec 326 CFR Citation: Not Yet Determined Legal Deadline: None Abstract: This regulation will require travel agents to adopt and implement reasonable procedures to verify the identity of any person seeking to open an account, to the extent reasonable and practicable; maintain records of the information used to verify the person's identity; and determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to them by any Government agency. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 02/24/03 68 FR 8571 ANPRM Comment Period End 04/10/03 NPRM 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None URL For Public Comments: regcomments@fincen.gov Agency Contact: Office of Regulatory Policy & Programs, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street NW., Suite 4600, Washington, DC 20005 Phone: 202 654-6400 RIN: 1506-AA38 [[Page 23002]] _______________________________________________________________________ 2127. CUSTOMER IDENTIFICATION PROGRAMS FOR LOAN AND FINANCE COMPANIES Priority: Substantive, Nonsignificant Legal Authority: PL 107-56, sec 326 CFR Citation: Not Yet Determined Legal Deadline: None Abstract: This regulation will require loan and finance companies to adopt and implement reasonable procedures to verify the identity of any person seeking to open an account, to the extent reasonable and practicable; maintain records of the information used to verify the person's identity; and determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to them by any Government agency. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Russell Stephenson, Senior Compliance Specialist, Department of the Treasury, Financial Crimes Enforcement Network, Suite 4600E, 1099 14th Street NW., Washington, DC 20005 Phone: 202 354-6012 Fax: 202 354-6411 Email: russell.stephenson@fincen.gov RIN: 1506-AA40 _______________________________________________________________________ 2128. CUSTOMER IDENTIFICATION PROGRAMS FOR SELLERS OF VEHICLES Priority: Substantive, Nonsignificant Legal Authority: PL 107-56, sec 326 CFR Citation: Not Yet Determined Legal Deadline: None Abstract: This regulation will require sellers of vehicles to adopt and implement reasonable procedures to verify the identity of any person seeking to open an account, to the extent reasonable and practicable; maintain records of the information used to verify the person's identity; and determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to them by any Government agency. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 02/24/03 68 FR 8568 ANPRM Comment Period End 04/10/03 NPRM 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None URL For Public Comments: regcomments@fincen.gov Agency Contact: Russell Stephenson, Senior Compliance Specialist, Department of the Treasury, Financial Crimes Enforcement Network, Suite 4600E, 1099 14th Street NW., Washington, DC 20005 Phone: 202 354-6012 Fax: 202 354-6411 Email: russell.stephenson@fincen.gov RIN: 1506-AA41 _______________________________________________________________________ 2129. AMENDMENTS TO THE BANK SECRECY ACT REGULATIONS--ANTI-MONEY LAUNDERING PROGRAMS FOR LOAN AND FINANCE COMPANIES Priority: Substantive, Nonsignificant Legal Authority: 31 USC 5316(h) CFR Citation: 31 CFR 103.65; 31 CFR 103.66; 31 CFR 103.67 Legal Deadline: Final, Statutory, April 24, 2002, PL 107-56, sec 352. Abstract: FinCEN will issue a series of regulations regarding anti- money laundering program requirements for loan and finance companies, as defined in the Bank Secrecy Act. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Office of Regulatory Policy & Programs, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street NW., Suite 4600, Washington, DC 20005 Phone: 202 654-6400 Related RIN: Split from 1506-AA28 RIN: 1506-AA73 _______________________________________________________________________ 2130. AMENDMENTS TO THE BANK SECRECY ACT REGULATIONS--ANTI-MONEY LAUNDERING PROGRAMS FOR BUSINESSES ENGAGED IN VEHICLE SALES, INCLUDING AUTOMOBILE, AIRPLANE, AND BOAT SALES Priority: Substantive, Nonsignificant Legal Authority: 31 USC 5316(h) CFR Citation: 31 CFR 103.65; 31 CFR 103.66; 31 CFR 103.67 Legal Deadline: Final, Statutory, April 24, 2002, PL 107-56, sec 352. Abstract: FinCEN will issue a series of regulations regarding anti- money laundering program requirements for businesses engaged in vehicle sales, including automobile, airplane, and boat sales, as defined in the Bank Secrecy Act. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 02/24/03 68 FR 8568 ANPRM Comment Period End 04/10/03 NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Office of Chief Counsel, Department of the Treasury, Financial Crimes Enforcement Network, PO Box 39, Vienna, VA 22183 Phone: 703 905-3590 Fax: 703 905-3758 Related RIN: Split from 1506-AA28 RIN: 1506-AA80 _______________________________________________________________________ 2131. AMENDMENTS TO BANK SECRECY ACT REGULATIONS--CASINO RECORDKEEPING AND REPORTING REQUIREMENTS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 31 USC PL107-56 Bank Secrecy Act CFR Citation: 31 CFR 103 Legal Deadline: None Abstract: FinCEN is proposing to exclude, as reportable transactions in currency, jackpots from slot machines and video lottery terminals. We are also proposed to exclude certain transactions between (i) casinos and currency dealers or exchangers and (ii) casinos and check cashiers as reportable transactions in currency. [[Page 23003]] Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None URL For Public Comments: regcomments@fincen.gov Agency Contact: Office of Regulatory Policy & Programs, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street NW., Suite 4600, Washington, DC 20005 Phone: 202 654-6400 RIN: 1506-AA84 _______________________________________________________________________ 2132. [bull] AMENDMENT TO THE BANK SECRECY ACT REGULATIONS--REQUIREMENT THAT CHECK CASHERS REPORT SUSPICIOUS TRANSACTIONS Priority: Info./Admin./Other. Major status under 5 USC 801 is undetermined. Legal Authority: 31 USC PL 5311-5314 CFR Citation: 31 CFR 103.20(a)(1) Legal Deadline: None Abstract: We are proposing to amend the Bank Secrecy Act regulations to require check cashers to report suspicious transactions to the Department of the Treasury. The proposed amendment constitutes a step further in the enhancement of a comprehensive system for the reporting of suspicious transactions by major categories of financial institutions operating in the United States, as part of the anti-money laundering program of the Department of the Treasury. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None URL For Public Comments: regcomments@fincen.gov Agency Contact: Office of Regulatory Policy & Programs, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street NW., Suite 4600, Washington, DC 20005 Phone: 202 654-6400 RIN: 1506-AA87 _______________________________________________________________________ Department of the Treasury (TREAS) Final Rule Stage Financial Crimes Enforcement Network (FINCEN) _______________________________________________________________________ 2133. AMENDMENT TO THE BANK SECRECY ACT REGULATIONS REGARDING REPORTING OF CROSS-BORDER TRANSPORTATION OF CERTAIN MONETARY INSTRUMENTS Priority: Substantive, Nonsignificant Legal Authority: 31 USC 5312(a)(3), Bank Secrecy Act CFR Citation: 31 CFR 103 Legal Deadline: None Abstract: This rule will require reporting of cross-border transportation of certain negotiable instruments. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/22/97 62 FR 3249 NPRM Comment Period End 04/22/97 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Office of Chief Counsel, Department of the Treasury, Financial Crimes Enforcement Network, PO Box 39, Vienna, VA 22183 Phone: 703 905-3590 Fax: 703 905-3758 RIN: 1506-AA15 _______________________________________________________________________ 2134. AMENDMENT TO THE BANK SECRECY ACT REGULATIONS--EXEMPTIONS FROM THE REQUIREMENT TO REPORT TRANSACTIONS IN CURRENCY Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1829b; 12 USC 1951 to 1959; 31 USC 5311 to 5330 CFR Citation: 31 CFR 103 Legal Deadline: None Abstract: This document contains an interim final rule that further reforms and simplifies the process by which depository institutions may exempt transactions of retail and other businesses from the requirement to report transactions in currency in excess of $10,000. The interim final rule is part of a continuing program to reduce unnecessary burdens upon financial institutions complying with the Bank Secrecy Act and increase the cost-effectiveness of the counter-money laundering policies of the Department of the Treasury. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 07/28/00 65 FR 46356 Interim Final Rule Effective 07/31/00 Interim Final Rule Comment Period End 09/26/00 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None URL For Public Comments: regcomments@fincen.gov Agency Contact: Office of Chief Counsel, Department of the Treasury, Financial Crimes Enforcement Network, PO Box 39, Vienna, VA 22183 Phone: 703 905-3590 Fax: 703 905-3758 RIN: 1506-AA23 _______________________________________________________________________ 2135. AMENDMENT TO THE BANK SECRECY ACT REGULATIONS--REQUIREMENT THAT NONFINANCIAL TRADES OR BUSINESSES REPORT CERTAIN CURRENCY TRANSACTIONS Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1829b; 12 USC 1951 to 1959; 31 USC 5311 et seq; PL 107-56 CFR Citation: 31 CFR 103.30 [[Page 23004]] Legal Deadline: Final, Statutory, April 26, 2002, interim final rule published December 31, 2001. Abstract: This document contains an interim final rule amending the Bank Secrecy Act regulations to require certain persons to report currency received in the course of their trade or business. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/31/01 66 FR 67685 Interim Final Rule 12/31/01 66 FR 67680 NPRM Comment Period End 03/01/02 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Office of Chief Counsel, Department of the Treasury, Financial Crimes Enforcement Network, PO Box 39, Vienna, VA 22183 Phone: 703 905-3590 Fax: 703 905-3758 RIN: 1506-AA25 _______________________________________________________________________ 2136. CUSTOMER IDENTIFICATION PROGRAMS FOR BANKS, SAVINGS ASSOCIATIONS, AND CREDIT UNIONS Priority: Substantive, Nonsignificant Legal Authority: 31 USC 5318(l) CFR Citation: 31 CFR 103.121 Legal Deadline: Final, Statutory, October 25, 2002, Public Law 107-56, sec 352. Abstract: This notice of proposed rulemaking proposes to require banks, savings associations, and credit unions to establish written customer identification programs. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/23/02 67 FR 48290 NPRM Comment Period End 09/06/02 Second NPRM 05/09/03 68 FR 25163 Final Rule 05/09/03 68 FR 25090 Second NPRM Comment Period End 06/23/03 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Office of Regulatory Policy & Programs, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street NW., Suite 4600, Washington, DC 20005 Phone: 202 654-6400 RIN: 1506-AA31 _______________________________________________________________________ 2137. AMENDMENT TO THE BANK SECRECY ACT REGULATIONS--REQUIREMENT THAT MUTUAL FUNDS REPORT SUSPICIOUS TRANSACTIONS Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1829b; 12 USC 1951 to 1959; 31 USC 5311 to 5331; PL 107-56 CFR Citation: 31 CFR 103.15 Legal Deadline: None Abstract: This document contains an amendment to the regulations implementing the statute generally known as the Bank Secrecy Act. The amendment would require mutual funds to report suspicious transactions to the Department of the Treasury. The amendment constitutes a further step in the creation of a comprehensive system for the reporting of suspicious transactions by the major categories of financial institutions operating in the United States, as part of the counter- money laundering program of the Department of the Treasury. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/21/03 68 FR 2716 NPRM Comment Period End 03/24/03 Final Rule Effective 05/04/06 71 FR 26213 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Office of the Chief Counsel, Department of the Treasury, Financial Crimes Enforcement Network, PO Box 39, Vienna, VA 22183 Phone: 703 905-3590 Fax: 703 905-3735 RIN: 1506-AA37 _______________________________________________________________________ 2138. IMPOSITION OF SPECIAL MEASURES AGAINST THE COUNTRY OF NAURU Priority: Substantive, Nonsignificant Legal Authority: PL 107-56, sec 311; 31 USC 5318A CFR Citation: 31 CFR 103.184 Legal Deadline: None Abstract: This rule will impose ``special measures'' against Nauru. Nauru was previously designated as a country of primary money laundering concern pursuant to section 311 of the USA PATRIOT Act on December 20, 2002, a prerequisite for the imposition of special measures. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/17/03 68 FR 18914 NPRM Comment Period End 05/19/03 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Koko (Nettie) Ives, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street NW., Suite 4600, Washington, DC 20005 Phone: 202 354-6014 Email: koko.ives@fincen.gov RIN: 1506-AA43 _______________________________________________________________________ 2139. FINANCIAL CRIMES ENFORCEMENT; AMENDMENTS TO THE BANK SECRECY ACT REGULATIONS--NOMENCLATURE CHANGES Priority: Info./Admin./Other. Major status under 5 USC 801 is undetermined. Legal Authority: 31 USC 5318 et seq CFR Citation: 31 CFR 103 Legal Deadline: None Abstract: This document amends 31 CFR part 103 to reflect changes to the structure of the Department of the Treasury. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Office of Chief Counsel, Department of the Treasury, Financial Crimes Enforcement Network, PO Box 39, Vienna, VA 22183 Phone: 703 905-3590 Fax: 703 905-3758 RIN: 1506-AA61 [[Page 23005]] _______________________________________________________________________ 2140. IMPOSITION OF SPECIAL MEASURE AGAINST FIRST MERCHANT BANK OSH LTD, INCL. ITS SUBSIDIARIES: FMB FINANCE LTD, FIRST MERCHANT INTERNATIONAL INC, FIRST MERCHANT FINANCE LTD, AND FIRST MERCHANT TRUST LTD Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 31 USC 5318A CFR Citation: 31 CFR 103.189 Legal Deadline: None Abstract: This document will prohibit certain U.S. financial institutions from maintaining correspondent or payable-through accounts in the United States for, or on behalf of, a foreign bank determined to be of primary money laundering concern. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/24/04 69 FR 51979 NPRM Comment Period End 09/23/04 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None URL For More Information: www.fincen.gov URL For Public Comments: regcomments@fincen.gov Agency Contact: Office of Chief Counsel, Department of the Treasury, Financial Crimes Enforcement Network, PO Box 39, Vienna, VA 22183 Phone: 703 905-3590 Fax: 703 905-3758 RIN: 1506-AA65 _______________________________________________________________________ 2141. IMPOSITION OF SPECIAL MEASURE AGAINST INFOBANK AS A FINANCIAL INSTITUTION OF PRIMARY MONEY LAUNDERING CONCERN Priority: Substantive, Nonsignificant Legal Authority: 31 USC 5318A CFR Citation: 31 CFR 103.190 Legal Deadline: None Abstract: This document will prohibit certain U.S. financial institutions from maintaining correspondent or payable-through accounts in the United States for, or on behalf of, a foreign financial institution determined to be of primary money laundering concern. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/24/04 69 FR 51973 NPRM Comment Period End 09/23/04 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Koko (Nettie) Ives, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street NW., Suite 4600, Washington, DC 20005 Phone: 202 354-6014 Email: koko.ives@fincen.gov RIN: 1506-AA67 _______________________________________________________________________ 2142. AMENDMENTS TO THE BANK SECRECY ACT REGULATIONS--ANTI-MONEY LAUNDERING PROGRAMS FOR MUTUAL FUNDS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 31 USC 5316(h) CFR Citation: 31 CFR 103.65; 31 CFR 103.66; 31 CFR 103.67 Legal Deadline: Final, Statutory, April 24, 2002, PL 107-56, sec 352. Abstract: FinCEN will issue a series of regulations regarding anti- money laundering program requirements for mutual funds, as defined in the Bank Secrecy Act. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 04/29/02 67 FR 21117 Interim Final Rule Comment Period End 05/29/02 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Office of the Chief Counsel, Department of the Treasury, Financial Crimes Enforcement Network, PO Box 39, Vienna, VA 22183 Phone: 703 905-3590 Fax: 703 905-3735 Related RIN: Split from 1506-AA28 RIN: 1506-AA68 _______________________________________________________________________ 2143. AMENDMENTS TO THE BANK SECRECY ACT REGULATIONS--ANTI-MONEY LAUNDERING PROGRAMS FOR TRAVEL AGENCIES Priority: Substantive, Nonsignificant Legal Authority: 31 USC 5316(h) CFR Citation: 31 CFR 103.65; 31 CFR 103.66; 31 CFR 103.67 Legal Deadline: Final, Statutory, April 24, 2002, PL 107-56, sec 352. Abstract: FinCEN will issue a series of regulations regarding anti- money laundering program requirements for travel agencies, as defined in the Bank Secrecy Act. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 02/24/03 68 FR 8571 NPRM Comment Period End 04/10/03 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Office of Chief Counsel, Department of the Treasury, Financial Crimes Enforcement Network, PO Box 39, Vienna, VA 22183 Phone: 703 905-3590 Fax: 703 905-3758 Related RIN: Split from 1506-AA28 RIN: 1506-AA69 _______________________________________________________________________ 2144. AMENDMENTS TO THE BANK SECRECY ACT REGULATIONS--ANTI-MONEY LAUNDERING PROGRAMS FOR INVESTMENT ADVISORS Priority: Substantive, Nonsignificant Legal Authority: 31 USC 5316(h) CFR Citation: 31 CFR 103.65; 31 CFR 103.66; 31 CFR 103.67 Legal Deadline: Final, Statutory, April 24, 2002, PL 107-56, sec 352. Abstract: FinCEN will issue a series of regulations regarding anti- money laundering program requirements for investment advisors, as defined in the Bank Secrecy Act. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/05/03 68 FR 23646 NPRM Comment Period End 07/07/03 Final Action 06/00/07 [[Page 23006]] Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Office of Chief Counsel, Department of the Treasury, Financial Crimes Enforcement Network, PO Box 39, Vienna, VA 22183 Phone: 703 905-3590 Fax: 703 905-3758 Related RIN: Split from 1506-AA28 RIN: 1506-AA71 _______________________________________________________________________ 2145. AMENDMENTS TO THE BANK SECRECY ACT REGULATIONS--ANTI-MONEY LAUNDERING PROGRAMS FOR FINANCIAL INSTITUTIONS Priority: Substantive, Nonsignificant Legal Authority: 31 USC 5316(h) CFR Citation: 31 CFR 103.65; 31 CFR 103.66; 31 CFR 103.67 Legal Deadline: Final, Statutory, April 24, 2002, PL 107-56, sec 352. Abstract: FinCEN will issue a series of regulations regarding anti- money laundering program requirements for financial institutions, as defined in the Bank Secrecy Act. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 04/29/02 67 FR 21110 Amendment to Interim Final Rule 11/06/02 67 FR 67547 Interim Final Rule Correction 11/14/02 67 FR 68935 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Office of the Chief Counsel, Department of the Treasury, Financial Crimes Enforcement Network, PO Box 39, Vienna, VA 22183 Phone: 703 905-3590 Fax: 703 905-3735 Related RIN: Split from 1506-AA28 RIN: 1506-AA72 _______________________________________________________________________ 2146. AMENDMENTS TO THE BANK SECRECY ACT REGULATIONS--ANTI-MONEY LAUNDERING PROGRAMS FOR MONEY SERVICES BUSINESSES Priority: Substantive, Nonsignificant Legal Authority: 31 USC 5316(h) CFR Citation: 31 CFR 103.65; 31 CFR 103.66; 31 CFR 103.67 Legal Deadline: Final, Statutory, April 24, 2002, PL 107-56, sec 352. Abstract: FinCEN will issue a series of regulations regarding anti- money laundering program requirements for money services businesses, as defined in the Bank Secrecy Act. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 04/29/02 67 FR 21114 Interim Final Rule Comment Period End 05/29/02 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Office of Regulatory Policy & Programs, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street NW., Suite 4600, Washington, DC 20005 Phone: 202 654-6400 Related RIN: Split from 1506-AA28 RIN: 1506-AA74 _______________________________________________________________________ 2147. AMENDMENTS TO THE BANK SECRECY ACT REGULATIONS--ANTI-MONEY LAUNDERING PROGRAMS FOR COMMODITY TRADING ADVISORS Priority: Substantive, Nonsignificant Legal Authority: 31 USC 5316(h) CFR Citation: 31 CFR 103.65; 31 CFR 103.66; 31 CFR 103.67 Legal Deadline: Final, Statutory, April 24, 2002, PL 107-56, sec 352. Abstract: FinCEN will issue a series of regulations regarding anti- money laundering program requirements for commodity trading advisors, as defined in the Bank Secrecy Act. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/05/03 68 FR 23640 NPRM Comment Period End 07/07/03 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Office of Regulatory Policy & Programs, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street NW., Suite 4600, Washington, DC 20005 Phone: 202 654-6400 Related RIN: Split from 1506-AA28 RIN: 1506-AA75 _______________________________________________________________________ 2148. AMENDMENTS TO THE BANK SECRECY ACT REGULATIONS--ANTI-MONEY LAUNDERING PROGRAMS FOR OPERATORS OF A CREDIT CARD SYSTEM Priority: Substantive, Nonsignificant Legal Authority: 31 USC 5316(h) CFR Citation: 31 CFR 103.65; 31 CFR 103.66; 31 CFR 103.67 Legal Deadline: Final, Statutory, April 24, 2002, PL 107-56, sec 352. Abstract: FinCEN will issue a series of regulations regarding anti- money laundering program requirements for operators of a credit card system, as defined in the Bank Secrecy Act. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 04/29/02 67 FR 21121 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Office of Regulatory Policy & Programs, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street NW., Suite 4600, Washington, DC 20005 Phone: 202 654-6400 Related RIN: Split from 1506-AA28 RIN: 1506-AA76 _______________________________________________________________________ 2149. AMENDMENTS TO THE BANK SECRECY ACT REGULATIONS--ANTI-MONEY LAUNDERING PROGRAMS FOR UNREGISTERED INVESTMENT COMPANIES Priority: Substantive, Nonsignificant Legal Authority: 31 USC 5316(h) CFR Citation: 31 CFR 103.65; 31 CFR 103.66; 31 CFR 103.67 Legal Deadline: Final, Statutory, April 24, 2002, PL 107-56, sec 352. Abstract: FinCEN will issue a series of regulations regarding anti- money laundering program requirements for unregistered investment companies, as defined in the Bank Secrecy Act. [[Page 23007]] Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/26/02 67 FR 60617 NPRM Comment Period End 11/25/02 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Office of the Chief Counsel, Department of the Treasury, Financial Crimes Enforcement Network, PO Box 39, Vienna, VA 22183 Phone: 703 905-3590 Fax: 703 905-3735 Related RIN: Split from 1506-AA28, Previously reported as 1506-AA57 RIN: 1506-AA77 _______________________________________________________________________ 2150. AMENDMENTS TO THE BANK SECRECY ACT REGULATIONS--ANTI-MONEY LAUNDERING PROGRAMS FOR DEALERS IN PRECIOUS METALS, STONES, OR JEWELS Priority: Substantive, Nonsignificant Legal Authority: 31 USC 5316(h) CFR Citation: 31 CFR 103.65; 31 CFR 103.66; 31 CFR 103.67 Legal Deadline: Final, Statutory, April 24, 2002, PL 107-56, sec 352. Abstract: FinCEN will issue a series of regulations regarding anti- money laundering program requirements for dealers in precious metals, stones, or jewels, as defined in the Bank Secrecy Act. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 02/21/03 68 FR 8480 Interim Final Rule 06/09/05 70 FR 33702 Interim Final Rule Comment Period End 07/25/05 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Office of Regulatory Policy & Programs, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street NW., Suite 4600, Washington, DC 20005 Phone: 202 654-6400 Related RIN: Split from 1506-AA28 RIN: 1506-AA78 _______________________________________________________________________ 2151. AMENDMENTS TO THE BANK SECRECY ACT REGULATIONS--ANTI-MONEY LAUNDERING PROGRAMS FOR PERSONS INVOLVED IN REAL ESTATE CLOSINGS AND SETTLEMENTS Priority: Substantive, Nonsignificant Legal Authority: 31 USC 5316(h) CFR Citation: 31 CFR 103.65; 31 CFR 103.66; 31 CFR 103.67 Legal Deadline: Final, Statutory, April 24, 2002, PL 107-56, sec 352. Abstract: FinCEN will issue a series of regulations regarding anti- money laundering program requirements for persons involved in real estate closings and settlements, as defined in the Bank Secrecy Act. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/10/03 68 FR 17569 NPRM Comment Period End 06/09/03 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Office of Regulatory Policy & Programs, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street NW., Suite 4600, Washington, DC 20005 Phone: 202 654-6400 Related RIN: Split from 1506-AA28 RIN: 1506-AA79 _______________________________________________________________________ 2152. AMENDMENT TO THE BANK SECRECY ACT REGULATIONS--IMPOSITION OF SPECIAL MEASURE AGAINST BANCO DELTA ASIA SARL Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 31 USC 5318A CFR Citation: 31 CFR 103 Legal Deadline: None Abstract: This document will prohibit certain U.S. financial institutions from maintaining correspondent or payable-through accounts in the United States for, or on behalf of, a foreign bank determined to be of primary money laundering concern. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/20/05 70 FR 55217 Notice 09/20/05 70 FR 55214 NPRM Comment Period End 10/25/05 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None URL For Public Comments: www.regcomments@fincen.gov Agency Contact: Koko (Nettie) Ives, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street NW., Suite 4600, Washington, DC 20005 Phone: 202 354-6014 Email: koko.ives@fincen.gov RIN: 1506-AA83 _______________________________________________________________________ 2153. THRESHOLD FOR THE REQUIREMENT TO COLLECT, RETAIN, AND TRANSMIT INFORMATION ON FUNDS TRANSFER AND TRANSMITTAL OF FUNDS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 12 USC 1829(B)(3); 12 USC 1829(b)(2) CFR Citation: 31 CFR 103; 12 CFR 219 Legal Deadline: None Abstract: An advanced notice concerning the $3,000 threshold for wire transfers. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 06/21/06 71 FR 35564 ANPRM Comment Period End 08/21/06 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Koko (Nettie) Ives, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street NW., Suite 4600, Washington, DC 20005 Phone: 202 354-6014 Email: koko.ives@fincen.gov RIN: 1506-AA86 [[Page 23008]] _______________________________________________________________________ Department of the Treasury (TREAS) Long-Term Actions Financial Crimes Enforcement Network (FINCEN) _______________________________________________________________________ 2154. AMENDMENTS TO THE BANK SECRECY ACT REGULATIONS--SPECIAL REPORTING AND RECORDKEEPING REQUIREMENTS--MONEY SERVICES BUSINESSES (MSBS) Priority: Substantive, Nonsignificant CFR Citation: 31 CFR 103 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/21/97 62 FR 27909 NPRM Comment Period End 09/30/97 Final Action To Be Determined Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Cynthia L. Clark Phone: 703 905-3758 Fax: 703 905-3758 Email: cynthia.clark@fincen.gov RIN: 1506-AA19 _______________________________________________________________________ Department of the Treasury (TREAS) Completed Actions Financial Crimes Enforcement Network (FINCEN) _______________________________________________________________________ 2155. IMPOSITION OF SPECIAL MEASURES AGAINST THE COMMERCIAL BANK OF SYRIA AS A FINANCIAL INSTITUTION OF PRIMARY MONEY LAUNDERING CONCERN Priority: Substantive, Nonsignificant CFR Citation: 31 CFR 103.188 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action 03/15/06 71 FR 13260 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Koko (Nettie) Ives Phone: 202 354-6014 Email: koko.ives@fincen.gov RIN: 1506-AA64 BILLING CODE 4810--33--S _______________________________________________________________________ Department of the Treasury (TREAS) Proposed Rule Stage Financial Management Service (FMS) _______________________________________________________________________ 2156. CLAIMS ON ACCOUNT OF TREASURY CHECKS Priority: Substantive, Nonsignificant Legal Authority: 31 USC 321; 31 USC 3328; 31 USC 3331; 31 USC 3343; 31 USC 3702; 31 USC 3712 CFR Citation: 31 CFR 245 Legal Deadline: None Abstract: Title 31 CFR part 245 governs the issuance of replacement checks for checks drawn on the United States Treasury when: 1) the original check has been lost, stolen, destroyed or mutilated, or defaced to such an extent that it is rendered non-negotiable; 2) the original check has been negotiated and paid on a forged or unauthorized indorsement; or 3) the original check has been cancelled pursuant to 31 CFR part 240. This regulation is being revised to update the regulation's definitions to make them consistent with the language of the revisions to the definitions in 31 CFR part 240. Other revisions will govern the use of the Check Forgery Insurance Fund (Fund). The Fund is a revolving fund established to settle payee claims of nonreceipt where the original check has been fraudulently negotiated. The Fund ensures that innocent payees, whose Treasury checks have been fraudulently cashed, receive replacement checks in a timely manner. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: Federal Agency Contact: Ella White, Program Analyst, Department of the Treasury, Financial Management Service, 3700 East-West Highway, Hyattsville, MD 20782 Phone: 202 874-8445 Email: ella.white@fms.treas.gov RIN: 1510-AA51 _______________________________________________________________________ 2157. FEDERAL GOVERNMENT PARTICIPATION IN THE AUTOMATED CLEARING HOUSE (ACH) Priority: Substantive, Nonsignificant Legal Authority: 5 USC 301; 5 USC 5525; 12 USC 90; 12 USC 265 to 266; 12 USC 391; 12 USC 1767; 12 USC 1789(a); 31 USC 321; 31 USC 3122; 31 USC 3301 to 3303; 31 USC 3321; 31 USC 3325; 31 USC 3327 to 3328; 31 USC 3332; 31 USC 3335 to 3336; 31 USC 3720; 31 USC 6503 CFR Citation: 31 CFR 210 Legal Deadline: None Abstract: The Department of the Treasury, Financial Management Service (FMS), periodically reviews the private sector Automated Clearing House (ACH) operating rules established by NACHA--The Electronic Payments Association and adopts or declines each rule. FMS plans to publish a notice of proposed rulemaking to amend 31 CFR part 210 to adopt certain ACH rules, including a new ACH rule establishing a per transaction fee for the origination and receipt of ACH transactions. In addition to addressing ACH rule changes, the proposed rule will include an amendment to part 210 to allow Federal agencies to issue part or all of an employee's travel reimbursement to the travel card issuing bank for crediting to the employee's travel card account (``split disbursement''). Currently, 31 CFR 210.5 requires that Federal electronic payments other than vendor payments be directed to a deposit account at the financial institution ``in the name of'' the individual. Treasury waived this requirement for split disbursement in April 2005. The proposed rule will codify the terms of the waiver in part 210. FMS anticipates publishing the proposed rule with a 60-day comment period. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/00/07 [[Page 23009]] NPRM Comment Period End 07/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Federal URL For Public Comments: www.regulations.gov Agency Contact: William Brushwood, Financial Program Specialist, Settlement Services Division, Department of the Treasury, Financial Management Service, 401 14th Street SW., Washington, DC 20227 Phone: 202 874-1251 Fax: 202 874-6965 Email: bill.brushwood@fms.treas.gov Related RIN: Related to 1510-AB13 RIN: 1510-AB00 _______________________________________________________________________ 2158. RULES AND PROCEDURES FOR EFFICIENT FEDERAL-STATE FUNDS TRANSFERS Priority: Substantive, Nonsignificant Legal Authority: 31 USC 6503 CFR Citation: 31 CFR 205 Legal Deadline: None Abstract: The Department of Treasury, Financial Management Service (FMS), plans to revise 31 CFR part 205 to clarify the circumstances under which federal interest liabilities accrue for certain Federal assistance programs. Additionally, changes to the procedures and timeframes for submitting Treasury/State Agreements to FMS are being contemplated. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Federal, State Federalism: Undetermined Agency Contact: M. Fred Williams, CMIA Program Manager, Federal Finance, Department of the Treasury, Financial Management Service, 401 14th Street SW., Washington, DC 20227 Phone: 202 874-6736 Fax: 202 874-6965 Email: fred.williams@fms.treas.gov RIN: 1510-AB12 _______________________________________________________________________ 2159. [bull] MANAGEMENT OF FEDERAL AGENCY DISBURSEMENTS Priority: Substantive, Nonsignificant Legal Authority: 5 USC 301; 12 USC 90; 12 USC 265 to 266; 12 USC 1767; 12 USC 1789(a); 31 USC 321; 31 USC 3122; 31 USC 3301 to 3303; 31 USC 3321; 31 USC 3325; 31 USC 3327 to 3328; 31 USC 3332; 31 USC 3335 to 3336; 31 USC 6503; PL 104-208 CFR Citation: 31 CFR 208 Legal Deadline: None Abstract: The Department of the Treasury, Financial Management Service (FMS), plans to publish a notice of proposed rulemaking to amend 31 CFR part 208 to allow Federal agencies to issue part or all of an employee's travel reimbursement to the travel card issuing bank for crediting to the employee's travel card account (``split disbursement''). Currently, 31 CFR 208.6 requires that Federal electronic payments other than vendor payments be directed to a deposit account at the financial institution ``in the name of`` the individual. Treasury waived this requirement for split disbursement in April 2005. The proposed rule will codify the terms of the waiver in part 208. In addition, the proposed rule would prohibit an agency from making a check payment to another agency, and would instead require that all agency-to-agency payments be made through the Intra-Governmental Payment and Collection System. FMS anticipates publishing the proposed rule with a 60-day comment period. (This amendment was previously included in RIN 1510-AB00.) Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Federal URL For Public Comments: www.regulations.gov Agency Contact: William Brushwood, Financial Program Specialist, Settlement Services Division, Department of the Treasury, Financial Management Service, 401 14th Street SW., Washington, DC 20227 Phone: 202 874-1251 Fax: 202 874-6965 Email: bill.brushwood@fms.treas.gov Related RIN: Split from 1510-AB00 RIN: 1510-AB13 _______________________________________________________________________ Department of the Treasury (TREAS) Final Rule Stage Financial Management Service (FMS) _______________________________________________________________________ 2160. FEDERAL CLAIMS COLLECTION STANDARD--COLLECTION BY INSTALLMENTS Priority: Substantive, Nonsignificant Legal Authority: 31 USC 3711; 31 USC 3717 CFR Citation: 31 CFR 901.9 Legal Deadline: None Abstract: Section 901.9, paragraph (f) is being modified to state that when an administrative charge is being paid out of amounts collected from the debtor, the amounts collected should be applied to that charge first. Remaining amounts are then applied to penalties, any other administrative charges, interest, and principal. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 07/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Federal, Local, State, Tribal Agency Contact: Thomas Dungan, Financial Program Specialist, Debt Management Service, Department of the Treasury, Financial Management Service, 401 14th Street SW., Washington, DC 20227 Phone: 202 874-7349 Fax: 202 874-7494 [[Page 23010]] Email: tom.dungan@fms.treas.gov RIN: 1510-AA91 _______________________________________________________________________ 2161. PAYMENT OF FEDERAL TAXES AND THE TREASURY TAX AND LOAN PROGRAM Priority: Substantive, Nonsignificant Legal Authority: 12 USC 90; 12 USC 265 to 266; 12 USC 321; 12 USC 323; 12 USC 332; 12 USC 391; 12 USC 1452(d); 12 USC 1464(k); 12 USC 1767; 12 USC 1789(a); 12 USC 2013; 12 USC 2122; 12 USC 3102; 12 USC 6302; 31 USC 3301 to 3304 CFR Citation: 31 CFR 203 Legal Deadline: None Abstract: Title 31 CFR part 203 governs the processing of Federal Tax collections by financial institutions and the operation of the Treasury Tax and Loan program. This rule includes general revisions that will provide needed updates to support operational changes to the system used for the collection of corporate withholding taxes and the investment of the Government's excess operating funds, and incorporate other needed updates. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 05/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: Federal Agency Contact: Thompson Sawyer, Director, Investment Management Division, Department of the Treasury, Financial Management Service, 401 14th Street SW, Washington, DC 20227 Phone: 202 874-7150 Email: thompson.sawyer@fms.treas.gov RIN: 1510-AB01 _______________________________________________________________________ 2162. DEPOSITARIES AND FINANCIAL AGENTS OF THE FEDERAL GOVERNMENT Priority: Info./Admin./Other Legal Authority: 12 USC 90; 12 USC 265 to 266; 12 USC 391; 12 USC 1452(d); 12 USC 1464(k); 12 USC 1789(a); 12 USC 2013; 12 USC 2122; 12 USC 3101 to 3102; 31 USC 3303; 31 USC 3336 CFR Citation: 31 CFR 202 Legal Deadline: None Abstract: The Department of the Treasury, Financial Management Service, is considering amending 31 CFR part 202 for clarity and consolidation. Part 202 governs the designation of financial institutions as depositaries and financial agents of the United States, and their authorization to accept deposits and perform other services. The rule may be updated to reflect Treasury's authority to designate Federal Reserve Banks as fiscal agents of the United States and to clarify definitions and obligations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Mary Bailey, Team Leader, Department of the Treasury, Financial Management Service, 401 14th Street SW, Washington, DC 20227 Phone: 202 874-7055 Fax: 202 874-6575 Email: mary.bailey@fms.treas.gov Related RIN: Related to 1510-AB11 RIN: 1510-AB10 _______________________________________________________________________ 2163. PAYMENT OF FEDERAL TAXES AND THE TREASURY LOAN PROGRAM Priority: Info./Admin./Other Legal Authority: 31 USC 323 CFR Citation: 31 CFR 203 Legal Deadline: None Abstract: The Department of the Treasury, Financial Management Service, is considering amending 31 CFR part 203 to address potential changes designed to simplify the Treasury Tax and Loan program. The changes may result in some sections being removed or placed in the Treasury Financial Manual. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 10/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Federal Agency Contact: Thompson Sawyer, Director, Investment Management Division, Department of the Treasury, Financial Management Service, 401 14th Street SW, Washington, DC 20227 Phone: 202 874-7150 Email: thompson.sawyer@fms.treas.gov Related RIN: Related to 1510-AB10 RIN: 1510-AB11 _______________________________________________________________________ Department of the Treasury (TREAS) Completed Actions Financial Management Service (FMS) _______________________________________________________________________ 2164. ADMINISTRATIVE OFFSET UNDER RECIPROCAL AGREEMENTS WITH STATES Priority: Substantive, Nonsignificant CFR Citation: 31 CFR 285.6 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Interim Final Rule 01/11/07 72 FR 1283 Interim Final Rule Comment Period End 03/12/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Federal, Local, State, Tribal Agency Contact: Thomas Dungan Phone: 202 874-7349 Fax: 202 874-7494 Email: tom.dungan@fms.treas.gov RIN: 1510-AB09 BILLING CODE 4810--31--S [[Page 23011]] _______________________________________________________________________ Department of the Treasury (TREAS) Prerule Stage Alcohol and Tobacco Tax and Trade Bureau (TTB) _______________________________________________________________________ ALCOHOL ____________________________________________________ 2165. PROPOSED REVISIONS TO THE BEER REGULATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 5021 to 5056; 26 USC 5061 to 5064; 26 USC 5091 to 5093; 26 USC 5111 to 5114; 26 USC 5121 to 5123; 26 USC 5401 to 5403; 26 USC 5411 to 5418; CFR Citation: 27 CFR 25 Legal Deadline: None Abstract: The Alcohol and Tobacco Tax and Trade Bureau proposes to revise brewery regulations to reduce the regulatory burden and streamline regulatory requirements. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 04/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Agency Contact: Ramona Hupp, Specialist, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 202 927-8210 Fax: 202 927-8525 Email: ramona.hupp@ttb.gov Related RIN: Related to 1513-AA12 RIN: 1513-AB05 _______________________________________________________________________ Department of the Treasury (TREAS) Proposed Rule Stage Alcohol and Tobacco Tax and Trade Bureau (TTB) _______________________________________________________________________ ALCOHOL ____________________________________________________ 2166. DENATURED SPIRITS, ARTICLES, AND NONBEVERAGE PRODUCTS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 27 CFR 19 to 20; 27 CFR 27 to 28 Legal Deadline: None Abstract: Modernizes and clarifies regulations relating to the following activities: 1) Manufacture of articles made with specially denatured alcohol (SDA); 2) exportation of SDA and articles made with SDA; and 3) importation of denatured spirits, fuel alcohol, articles made with SDA, and nonbeverage alcoholic products. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Steven C. Simon, Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 202 927-9210 Fax: 202 927-8525 Email: steven.simon@ttb.gov RIN: 1513-AB03 _______________________________________________________________________ 2167. LABELING AND ADVERTISING OF WINES, DISTILLED SPIRITS, AND MALT BEVERAGES Priority: Other Significant. Major status under 5 USC 801 is undetermined. Legal Authority: 27 USC 205 CFR Citation: 27 CFR 4; 27 CFR 5; 27 CFR 7 Legal Deadline: None Abstract: TTB requests public comment on possible changes to the labeling and advertising requirements of alcohol beverage products regulated by TTB. TTB has long required certain labeling, such as brand name, class and type, alcohol content (in the case of wines containing more than 14 percent alcohol by volume and distilled spirits), net contents, and in recent years has published updated standards for the use of carbohydrate and calorie claims. Because of petitions to mandate additional information, including ingredient, allergen, alcohol, calorie, and carbohydrate content and requests by some to use labels with at least some of that additional information on a voluntary basis under existing rules, TTB believes it is now appropriate to consider revising the alcohol beverage labeling and advertising regulations, and seeks public comment on several issues to assist TTB in formulating specific regulatory proposals. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 04/29/05 70 FR 22274 ANPRM Comment Period Extended 06/23/05 70 FR 36359 ANPRM Comment Period End 09/26/05 NPRM 07/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Lisa M. Gesser, TTB Program Coordinator, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, P.O. Box 128, Morganza, MD 10660 Phone: 301 290-1460 Fax: 301 290-1463 Email: lisa.gesser@ttb.gov RIN: 1513-AB07 _______________________________________________________________________ 2168. ALTERNATING BREWERY PROPRIETORS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 5051; 26 USC 5401 CFR Citation: 27 CFR 25 Legal Deadline: None Abstract: TTB is establishing guidelines for the establishment of alternating proprietors at brewery premises. These guidelines will provide standards for the establishment of an alternating proprietorship at a brewery premises, and will provide guidelines for the operations of these premises by separate established brewers. They will give guidance on operations, tax payment, recordkeeping, reporting, and segregation of products made by separate brewers. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None [[Page 23012]] Agency Contact: Ramona L. Hupp, Specialist, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, 1310 G Street NW., Suite 200E, Washington, DC 20220 Phone: 202 927-8210 Fax: 202 927-8525 Email: ramona.hupp@ttb.gov RIN: 1513-AB09 _______________________________________________________________________ 2169. USE OF THE WORD ``PURE'' OR ITS VARIANTS IN THE LABELING AND ADVERTISING OF ALCOHOL BEVERAGES Priority: Other Significant Legal Authority: 27 USC 205 CFR Citation: 27 CFR 4 to 5; 27 CFR 7 Legal Deadline: None Abstract: TTB is considering amending the regulations concerning the use of the word ``pure'' or its variants in the labeling and advertising of alcohol beverages. We wish to gather information by inviting comments from the public and industry as to whether the existing regulations should be revised. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 12/07/05 70 FR 72731 ANPRM Comment Period End 02/06/06 ANPRM Comment Period Extended 02/16/06 71 FR 8228 ANPRM Comment Period End 03/20/06 NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Lisa M. Gesser, TTB Program Coordinator, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, P.O. Box 128, Morganza, MD 20660 Phone: 301 290-1460 Fax: 301 290-1463 Email: lisa.gesser@ttb.gov RIN: 1513-AB16 _______________________________________________________________________ 2170. PROPOSED EXPANSION OF THE SANTA MARIA VALLEY VITICULTURAL AREA Priority: Routine and Frequent Legal Authority: 27 USC 205(e) CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: The Santa Maria Valley viticultural area (27 CFR 9.28) lies within the larger Central Coast viticultural area of California. The proposed expansion to the Santa Maria Valley viticultural area boundary line extends to the south and west of the current boundaries, within Santa Barbara County, California. Distinguishing features include terrain, climate, soils, and the Santa Maria River watershed. The proposed expansion area includes vineyards and wineries. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy Sutton, AVA Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 415 271-1254 Fax: 707-778-6349 Email: nancy.sutton@ttb.gov RIN: 1513-AB31 _______________________________________________________________________ 2171. PROPOSED AMENDMENT TO THE STANDARDS OF IDENTITY FOR DISTILLED SPIRITS Priority: Substantive, Nonsignificant Legal Authority: 27 USC 205(e) CFR Citation: 27 CFR 5.22 Legal Deadline: None Abstract: TTB has received a petition to establish Cacha[ccedil]a as a distinctive product of Brazil. TTB proposes to amend the regulations governing standards of identity for distilled spirits accordingly. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Daniel J. Hiland, Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 202 927-8210 Fax: 202 927-8525 Email: daniel.hiland@ttb.gov RIN: 1513-AB33 _______________________________________________________________________ 2172. MODIFICATION OF MANDATORY LABEL INFORMATION FOR WINE Priority: Substantive, Nonsignificant Legal Authority: 27 USC 205 CFR Citation: 27 CFR 4.32 Legal Deadline: None Abstract: This proposed regulatory change would permit alcohol content information to appear on any label affixed to a wine container. Current regulations require alcohol content to appear on the brand label. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Maria E. Mahone, Writer-Editor, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 202 927-1620 Fax: 202 927-8525 Email: maria.mahone@ttb.gov RIN: 1513-AB36 _______________________________________________________________________ 2173. [bull] PROPOSED ESTABLISHMENT OF THE UPPER MISSISSIPPI RIVER VALLEY VITICULTURAL AREA Priority: Routine and Frequent Legal Authority: 27 U.S.C. 205 CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: TTB proposes to establish the 29,914-square mile ``Upper Mississippi River Valley'' viticultural area in portions of southeast Minnesota, southwest Wisconsin, northwest Illinois, and northeast Iowa. The Upper Mississippi River Wildlife and Fish Refuge Act of 1924 provides an historical perspective in support of the Upper Mississippi River Valley viticultural area. The boundary closely [[Page 23013]] follows Major Land Resource Area 105, managed by the Natural Resources Conservation Service, under the U.S. Department of Agriculture. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy Sutton, AVA Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 415 271-1254 Fax: 707-778-6349 Email: nancy.sutton@ttb.gov RIN: 1513-AB40 _______________________________________________________________________ 2174. [bull] PROPOSED ESTABLISHMENT OF THE PINE MOUNTAIN-MAYACMAS VITICULTURAL AREA Priority: Routine and Frequent Legal Authority: 27 U.S.C. 205 CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: The 4,600-acre ``Pine Mountain-Mayacmas'' proposed viticultural area lies approximately 90 miles north-northwest of San Francisco, California, off U.S. Route 101 in Sonoma and Mendocino Counties, on the western side of the Mayacmas range. Distinguishing features include mountainous soils, steep topography with high elevations, and a growing season climate that contrasts to the valley floor below. Also, the Pine Mountain vineyards, 5 to 20-acre small plots with flat or gently sloping terrains, nestle among the steep mountainous terrains. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy Sutton, AVA Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 415 271-1254 Fax: 707-778-6349 Email: nancy.sutton@ttb.gov RIN: 1513-AB41 _______________________________________________________________________ 2175. [bull] PROPOSED ESTABLISHMENT OF THE LAKE CHELAN VITICULTURAL AREA Priority: Routine and Frequent Legal Authority: 27 U.S.C. 205 CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: The 30,440-acre Lake Chelan proposed viticultural area lies east-northeast of Seattle, Washington, on the east side of the Cascade range in Chelan County. Distinguishing features include the alpine valley setting, lake-moderated climate, and soils rich in volcanic pumice. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy Sutton, AVA Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 415 271-1254 Fax: 707-778-6349 Email: nancy.sutton@ttb.gov RIN: 1513-AB42 _______________________________________________________________________ 2176. [bull] PROPOSED EXPANSION OF THE FORT ROSS SEAVIEW VITICULTURAL AREA Priority: Routine and Frequent Legal Authority: 27 U.S.C. 205 CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: The proposed expansion to the Fort Ross Seaview viticultural area would add an additional 15,726 acres along its northern-most boundary line. The Fort Ross Seaview viticultural area is located in western Sonoma County, California, just east of the Pacific coastline. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy Sutton, AVA Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 415 271-1254 Fax: 707-778-6349 Email: nancy.sutton@ttb.gov RIN: 1513-AB44 _______________________________________________________________________ 2177. [bull] PROPOSED ESTABLISHMENT OF THE HAW RIVER VALLEY VITICULTURAL AREA Priority: Routine and Frequent Legal Authority: 27 U.S.C. 205 CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: The proposed 868-square mile Haw River Valley viticultural area lies in the north-central Piedmont area of North Carolina on both sides of the Haw River. Distinguishing features include its geology, soils, elevation, and climate. The Haw River watershed plays a significant role in the determination of the proposed boundary. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy Sutton, AVA Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 415 271-1254 Fax: 707-778-6349 Email: nancy.sutton@ttb.gov RIN: 1513-AB45 _______________________________________________________________________ 2178. [bull] PROPOSED ESTABLISHMENT OF THE INDIANA UPLANDS VITICULTURAL AREA Priority: Routine and Frequent Legal Authority: 27 U.S.C. 205 CFR Citation: 27 CFR 9 Legal Deadline: None [[Page 23014]] Abstract: The proposed 4,800-square mile Indiana Uplands viticultural area in south-central Indiana includes 150 acres of vineyards and nine wineries. It partially overlaps with the Ohio River Valley viticultural area (27 CFR 9.78). Distinguishing features of the proposed Indiana Uplands viticultural area include its non-glaciated plateau geology, thin residual soil and loess cover, variable topography, and a unique growing climate. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy Sutton, AVA Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 415 271-1254 Fax: 707-778-6349 Email: nancy.sutton@ttb.gov RIN: 1513-AB46 _______________________________________________________________________ 2179. [bull] PROPOSED EXPANSION OF THE PASO ROBLES VITICULTURAL AREA Priority: Routine and Frequent Legal Authority: 27 U.S.C. 205 CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: The proposed southward expansion to the established Paso Robles viticultural area includes a region with similar distinguishing and viticultural features. Also, the current boundary line divides a large vineyard with acreage on both sides of the line. The expansion included a portion of the historic Santa Margarita land grant omitted from the Paso Robles viticultural area. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy Sutton, AVA Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 415 271-1254 Fax: 707-778-6349 Email: nancy.sutton@ttb.gov RIN: 1513-AB47 _______________________________________________________________________ FIREARMS ____________________________________________________ 2180. FIREARMS AND AMMUNITION EXCISE TAXES, CONSIGNMENT SALES OF IMPORTED ARTICLES Priority: Other Significant Legal Authority: 26 USC 4181 to 4182; 26 USC 4216 to 4219; 26 USC 4221 to 4223; 26 USC 4225; 26 USC 6001; 26 USC 6011; 26 USC 6020 to 6021; 26 USC 6061; 26 USC 6071; 26 USC 6081; 26 USC 6091; 26 USC 6101 to 6104; 26 USC 6109; 26 USC 6151; 26 USC 6155; 26 USC 6161; 26 USC 6301 to 6303; 26 USC 6311; 26 USC 6402; 26 USC 6404; 26 USC 6416; 26 USC 7502; 26 USC 7805 CFR Citation: 27 CFR 53.121 Legal Deadline: None Abstract: TTB is amending the regulations relating to the payment of excise taxes on firearms and ammunition. The proposed amendment will clarify the tax liability of a domestic consignee who sells imported firearms or ammunition on behalf of a resident of a foreign country. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None URL For Public Comments: nprm@ttb.gov Agency Contact: Karl O. Joedicke, Project Coordinator, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, 1310 G Street NW., Suite 200E, Washington, DC 20220 Phone: 202 927-7460 Fax: 202 927-8525 Email: karl.joedicke@ttb.gov RIN: 1513-AB12 _______________________________________________________________________ 2181. DETERMINATION OF TAX AND RECORDKEEPING ON LARGE CIGARS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 5701; 26 USC 5702 CFR Citation: 27 CFR 40; 27 CFR 41 Legal Deadline: None Abstract: This notice incorporates most of the parts of Industry Circular 91-3, dated March 19, 1991, entitled ``Large Cigar Taxes On and After January, 1991'' that have not been placed in the regulations. This notice addresses questions about determining the amount of tax for large cigars based on their sale price and gives guidance on tax adjustments for large cigars provided at no cost in connection with a sale. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: Transferred from RIN 1512-AC22 Agency Contact: Amy R. Greenberg, Management Analyst, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 202 927-8210 Fax: 202 927-8525 Email: amy.greenberg@ttb.gov RIN: 1513-AA16 _______________________________________________________________________ 2182. PROPOSED REVISIONS TO THE DISTILLED SPIRITS PLANT REGULATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 27 CFR 19 Legal Deadline: None Abstract: TTB is proposing to amend the distilled spirits plant regulations in 27 CFR part 19. Many of these proposed revisions are the result of a petition submitted by the Distilled Spirits Council of the United States [[Page 23015]] (DISCUS). Other proposed revisions are a result of TTB's own comprehensive review of the regulations in 27 CFR part 19. TTB believes that the amendments proposed in this notice will benefit the distilled spirits industry by modernizing many of the requirements for operating distilled spirits plants and thereby allow proprietors to operate in a more efficient manner. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: Transferred from RIN 1512-AC52 Agency Contact: Daniel J. Hiland, Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 202 927-8210 Fax: 202 927-8525 Email: daniel.hiland@ttb.gov RIN: 1513-AA23 _______________________________________________________________________ 2183. PROPOSED ADDITION OF NEW GRAPE VARIETY NAMES FOR AMERICAN WINES Priority: Substantive, Nonsignificant Legal Authority: 27 USC 205 CFR Citation: 27 CFR 4 Legal Deadline: None Abstract: TTB has received petitions proposing to add several names to the list of grape variety names used to designate American wines. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/00/08 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: Transferred from RIN 1512-AC79 Agency Contact: Jennifer Berry, TTB Specialist, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, P.O. Box 18152, Roanoke, VA 24014 Phone: 540 344-9333 Fax: 540 344-5855 Email: jennifer.berry@ttb.gov RIN: 1513-AA42 _______________________________________________________________________ 2184. PETITION TO ESTABLISH SANTA MARIA BENCH AS A NEW AMERICAN VITICULTURAL AREA Priority: Routine and Frequent Legal Authority: 27 USC 205 CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: TTB received a petition from Cambria Winery and Vineyard proposing to establish the ``Santa Maria Bench'' viticultural area in Santa Barbara County, California. The petitioned viticultural area has 4,130 acres, with 1,754 acres planted to wine grapes, and is within the established Santa Maria and the Central Coast viticultural areas. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: Transferred from RIN 1512-AC93 Agency Contact: Ramona L. Hupp, Specialist, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, 1310 G Street NW., Suite 200E, Washington, DC 20220 Phone: 202 927-8210 Fax: 202 927-8525 Email: ramona.hupp@ttb.gov RIN: 1513-AA51 _______________________________________________________________________ 2185. FORM TTB F 5100.51, FORMULA AND PROCESS FOR DOMESTIC AND IMPORTED ALCOHOL BEVERAGES Priority: Substantive, Nonsignificant Legal Authority: 27 USC 205; 26 USC 5222 to 5223; 26 USC 5232; 26 USC 5386; 26 USC 5401; 26 USC 5555 CFR Citation: 27 CFR 5; 27 CFR 7; 27 CFR 19; 27 CFR 24 to 26 Legal Deadline: None Abstract: This project replaces existing forms used for the submission of formulas for wine and distilled spirits with a single, new form, TTB F 5100.51, Formula and Process for Domestic and Imported Alcohol Beverages, to be used by all producers and importers of alcohol beverages. This new form also replaces the existing letterhead formulas used for submission of beer formulas. Use of this new form will allow all alcohol beverage producers to use the same form and submit the same information for the production and importation of any kind of alcohol beverage. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Agency Contact: Roberta Sanders, Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 400W, 1310 G Street NW, Washington, DC 20220 Phone: 202 927-8116 Fax: 202-927-8487 Email: roberta.sanders@ttb.gov Gracie Joy, Assistant Director, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 400W, 1310 G Street NW, Washingtonq, DC 20220 Phone: 202 927-0638 Fax: 202-927-8487 Email: gracie.joy@ttb.gov RIN: 1513-AB28 _______________________________________________________________________ 2186. NONBEVERAGE PRODUCT FORMULAS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 27 CFR 17 Legal Deadline: None Abstract: TTB is amending 27 CFR part 17 to allow manufacturers to self-certify that their products meet the legal requirements for nonbeverage drawback. A temporary rule will allow this new procedure as an optional alternative, and a concurrent notice of proposed rulemaking (NPRM) will propose making the new procedure mandatory. Thereafter, the changes proposed in the NPRM may be made permanent by a final rule. [[Page 23016]] Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 10/00/07 Interim Final Rule 10/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Steven C. Simon, Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 202 927-9210 Fax: 202 927-8525 Email: steven.simon@ttb.gov RIN: 1513-AB35 _______________________________________________________________________ 2187. PROPOSED REVISION OF PART 9--AMERICAN VITICULTURAL AREAS Priority: Substantive, Nonsignificant Legal Authority: 27 USC 205 CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: TTB is proposing to revise 27 CFR part 9. Through this revision, we will streamline, clarify, and modernize the requirements for submitting American viticultural area petitions to TTB. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Rita D. Butler, Specialist, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 202 927-8210 Fax: 202 927-8525 Email: rita.butler@ttb.gov RIN: 1513-AB39 _______________________________________________________________________ Department of the Treasury (TREAS) Final Rule Stage Alcohol and Tobacco Tax and Trade Bureau (TTB) _______________________________________________________________________ ALCOHOL ____________________________________________________ 2188. NEW CERTIFICATION REQUIREMENTS FOR IMPORTED WINE Priority: Substantive, Nonsignificant Legal Authority: PL 108-429, sec 202 CFR Citation: 27 CFR 4; 27 CFR 24; 27 CFR 27 Legal Deadline: None Abstract: TTB is amending the wine regulations to implement new certification requirements for imported wine required by the Miscellaneous Trade and Technical Corrections Act of 2004. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/24/05 70 FR 49516 Interim Final Rule 08/24/05 70 FR 49479 Interim Final Rule Effective 08/24/05 Final Rule 11/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Jennifer Berry, TTB Specialist, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, P.O. Box 18152, Roanoke, VA 24014 Phone: 540 344-9333 Fax: 540 344-5855 Email: jennifer.berry@ttb.gov RIN: 1513-AB00 _______________________________________________________________________ 2189. MAJOR FOOD ALLERGEN LABELING FOR WINES, DISTILLED SPIRITS, AND MALT BEVERAGES Priority: Other Significant Legal Authority: 27 USC 205(e) CFR Citation: 27 CFR 4.32; 27 CFR 5.32; 27 CFR 7.22 Legal Deadline: None Abstract: Pursuant to the House Committee Report accompanying the Food Allergen Labeling and Consumer Protection Act of 2004 (Pub. L. 108- 282), TTB will consider how to appropriately apply allergen labeling to beverage alcohol products. We will consider how allergen labeling for these products will operate within our existing labeling regulations and with FDA regulations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 04/29/05 70 FR 22274 ANPRM Comment Period End 09/26/05 NPRM 07/26/06 71 FR 42329 Interim Final Rule 07/26/06 71 FR 42260 Interim Final Rule Effective 07/26/06 NPRM Comment Period End 09/25/06 Comment Period Extended 09/20/06 71 FR 54943 Comment Period End 12/26/06 Final Rule 08/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Lisa M. Gesser, TTB Program Coordinator, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, P.O. Box 128, Morganza, MD 20660 Phone: 301 290-1460 Fax: 301 290-1463 Email: lisa.gesser@ttb.gov Related RIN: Related to 1513-AB07 RIN: 1513-AB08 _______________________________________________________________________ 2190. QUARTERLY EXCISE TAX FILING FOR SMALL ALCOHOL EXCISE TAXPAYERS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 5061 as amended by PL 109-59 CFR Citation: 27 CFR 19; 27 CFR 24; 27 CFR 25; 27 CFR 26; 27 CFR 70; Legal Deadline: NPRM, Statutory, January 1, 2006, Public Law 109-59. Abstract: Implementation of the quarterly excise tax payment procedure for small alcohol excise taxpayers contained in section 11127 of Public Law 109-59, the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users, which [[Page 23017]] amended section 5061 of the Internal Revenue Code of 1986. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Temporary Rule Effective Date 01/01/06 Temporary Rule With NPRM 02/02/06 71 FR 5598 NPRM 02/02/06 71 FR 5629 NPRM Comment Period End 04/03/06 Final Rule 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Agency Contact: Marjorie D. Ruhf, Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 202 927-8210 Fax: 202 927-8525 Email: marjorie.ruhf@ttb.gov RIN: 1513-AB17 _______________________________________________________________________ 2191. GREEN VALLEY OF RUSSIAN RIVER VALLEY Priority: Routine and Frequent Legal Authority: 27 USC 205 CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: The Winegrowers and Vintners of Sonoma County's Green Valley group proposes to rename the ``Sonoma County Green Valley'' viticultural area (27 CFR 9.57) as the ``Green Valley of Russian River Valley'' viticultural area, with the size and boundaries remaining unchanged. The group explains the name change is warranted because the region is commonly referred to as ``Green Valley,'' without the Sonoma County modifier. They add that the Sonoma County Green Valley viticultural area is considered as a sub-appellation of the Russian River Valley viticultural area by virtue of location and similar climate. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/02/06 71 FR 25795 NPRM Comment Period End 07/03/06 Final Rule 05/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy Sutton, AVA Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 415 271-1254 Fax: 707-778-6349 Email: nancy.sutton@ttb.gov RIN: 1513-AB18 _______________________________________________________________________ 2192. LEHIGH VALLEY Priority: Routine and Frequent Legal Authority: 27 USC 205 CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: The Lehigh Valley Wine Trail Appellation Committee proposed the establishment of the Lehigh Valley viticultural area, which includes 1,888 square miles and 220 vineyard acres, north of Philadelphia, in Lehigh, Northampton, Berks, Schuylkill, Carbon, and Monroe counties in Pennsylvania. Distinguishing features include climate, soil, and terrain. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 11/08/06 71 FR 65437 NPRM Comment Period End 01/08/07 Final Rule 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy Sutton, AVA Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 415 271-1254 Fax: 707-778-6349 Email: nancy.sutton@ttb.gov RIN: 1513-AB19 _______________________________________________________________________ 2193. SWAN CREEK Priority: Routine and Frequent Legal Authority: 27 USC 205 CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: Raffaldini Vineyards submitted a petition to establish the 96,000-acre Swan Creek viticultural area on behalf of the Vineyards of Swan Creek Trade Association, a group of vineyards and wineries in northwest North Carolina. At the time of the petition, the proposed boundaries of the agricultural and rural area include three wineries and 75 acres of vineyards. Portions of Wilkes, Yadkin, and Iredell counties are in the proposed boundaries, as is approximately 60 percent of the established Yadkin Valley viticultural area (27 CFR 9.174). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/12/06 71 FR 53612 NPRM Comment Period End 11/13/06 Final Rule 10/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy Sutton, AVA Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 415 271-1254 Fax: 707-778-6349 Email: nancy.sutton@ttb.gov RIN: 1513-AB20 _______________________________________________________________________ 2194. SAN FRANCISCO BAY EXPANSION Priority: Routine and Frequent Legal Authority: 27 USC 205 CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: Hestan Vineyards proposes to expand the San Francisco Bay viticultural area northward into Solano County, California. This 56,280-acre expansion will include two acres of vineyards and portions of the Carquinez Strait in the City of Vallejo. The distinguishing features include climate, soil, and terrain. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/05/06 71 FR 70472 NPRM Comment Period End 02/05/07 Final Rule 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None [[Page 23018]] Agency Contact: Nancy Sutton, AVA Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 415 271-1254 Fax: 707-778-6349 Email: nancy.sutton@ttb.gov RIN: 1513-AB21 _______________________________________________________________________ 2195. SNAKE RIVER VALLEY Priority: Routine and Frequent Legal Authority: 27 USC 205 CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: The wine grape growers of the Snake River Valley in Idaho, the Idaho Grape Growers and Wine Producers Commission, and the Idaho Department of Commerce and Labor submitted a petition to establish the 8,263-square mile Snake River Valley viticultural area. The area includes portions of western Idaho and eastern Oregon. The proposed boundaries include 15 wineries, 46 vineyards, and 1,107 acres of commercial vineyard production. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/17/06 71 FR 40458 NPRM Comment Period End 09/15/06 Final Rule 05/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy Sutton, AVA Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 415 271-1254 Fax: 707-778-6349 Email: nancy.sutton@ttb.gov RIN: 1513-AB22 _______________________________________________________________________ 2196. PROPOSED EXPANSION OF THE ALEXANDER VALLEY VITICULTURAL AREA Priority: Routine and Frequent Legal Authority: 27 USC 205 CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: The petitioner proposes to expand the Alexander Valley viticultural area by 1,300 acres, in a region along Hiatt Road adjacent to the current diagonal northwestern boundary. The proposed expansion area, south-southwest of Cloverdale, resembles an east-facing triangle that joins the diagonal northwestern boundary line. The current diagonal boundary line divides a vineyard, leaving about 10 acres outside of the established Alexander Valley viticultural area. Expansion of the boundary line would correct this vineyard problem and allow for another vineyard to be included in the viticultural area. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/17/06 71 FR 40465 NPRM Comment Period End 09/15/06 Final Rule 07/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy Sutton, AVA Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 415 271-1254 Fax: 707-778-6349 Email: nancy.sutton@ttb.gov RIN: 1513-AB23 _______________________________________________________________________ 2197. PROPOSED ESTABLISHMENT OF THE TULOCAY VITICULTURAL AREA Priority: Routine and Frequent Legal Authority: 27 USC 205(e) CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: The petitioner proposes to establish the 11,200-acre Tulocay viticultural area. The Tulocay region is totally within the established Napa Valley viticultural area and the larger, multi-county North Coast viticultural area in California. The distinguishing features of the proposed viticultural area include a unique microclimate and geography. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 11/08/06 71 FR 65432 NPRM Comment Period End 01/08/07 Final Rule 09/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy Sutton, AVA Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 415 271-1254 Fax: 707-778-6349 Email: nancy.sutton@ttb.gov RIN: 1513-AB26 _______________________________________________________________________ 2198. PROPOSED ESTABLISHMENT OF THE PASO ROBLES WESTSIDE VITICULTURAL AREA Priority: Routine and Frequent Legal Authority: 27 USC 205(e) CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: The proposed 179,622-acre Paso Robles Westside viticultural area is located in California about 30 miles inland from the Pacific Ocean and 180 miles south of San Francisco. The proposed viticultural area is totally within San Luis Obispo County, the Paso Robles viticultural area, and the multi-county Central Coast viticultural area. The establishment of the proposed Paso Robles Westside viticultural area would not affect the existing, larger Paso Robles viticultural area. Distinguishing features of the proposed Paso Robles Westside viticultural area include climate, soils, and topography. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/24/07 72 FR 3088 NPRM Comment Period End 03/26/07 Comment Period Extended 04/24/07 Final Rule 03/00/08 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy Sutton, AVA Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 [[Page 23019]] Phone: 415 271-1254 Fax: 707-778-6349 Email: nancy.sutton@ttb.gov RIN: 1513-AB27 _______________________________________________________________________ FIREARMS ____________________________________________________ 2199. FIREARMS EXCISE TAX; EXEMPTION FOR SMALL MANUFACTURERS, PRODUCERS, AND IMPORTERS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 4181 to 4182; 26 USC 4216 to 4219; 26 USC 4221 to 4223; 26 USC 4225; 26 USC 6001; 26 USC 6011; 26 USC 6020 to 6021; 26 USC 6071; 26 USC 6081; 26 USC 6091; 26 USC 6101 to 6104; 26 USC 6109; 26 USC 6151; 26 USC 6155; 26 USC 6161; 26 USC 6301 to 6303; 26 USC 6311; 26 USC 6402; 26 USC 6404; 26 USC 6416; 26 USC 7502; 26 USC 7805 CFR Citation: 27 CFR 53.62 Legal Deadline: None Abstract: This final rule amends the regulations administered by the Alcohol and Tobacco Tax and Trade Bureau to reflect the small manufacturers excise tax exemption contained in section 5241 of the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users. Section 5241 of this Act amended section 4182 of the Internal Revenue Code of 1986 to exempt any pistol, revolver, or firearm from the tax imposed by section 4181 if it was manufactured, produced, or imported by a person who manufactures, produces, or imports less than an aggregate of 50 such articles during the calendar year. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Rule 09/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Karl O. Joedicke, Project Coordinator, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, 1310 G Street NW., Suite 200E, Washington, DC 20220 Phone: 202 927-7460 Fax: 202 927-8525 Email: karl.joedicke@ttb.gov RIN: 1513-AB25 _______________________________________________________________________ TOBACCO PRODUCTS ____________________________________________________ 2200. REMOVAL OF TOBACCO PRODUCTS AND CIGARETTE PAPERS AND TUBES, WITHOUT PAYMENT OF TAX, FOR USE BY THE UNITED STATES IN LAW ENFORCEMENT ACTIVITIES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 5703 to 5705; 26 USC 5723; 26 USC 5741; 26 USC 5751; 26 USC 5762 to 5763; 26 USC 6313; 26 USC 7212; 26 USC 7342; 26 USC 7606; 26 USC 7805; 44 USC 3504(h) CFR Citation: 27 CFR 45.31 Legal Deadline: None Abstract: The Department of the Treasury and the Alcohol and Tobacco Tax and Trade Bureau propose to amend the regulations relating to the removal of tobacco products and cigarette papers and tubes, without payment of tax, for use by the United States in law enforcement activities. Specifically, we propose to allow manufacturers of tobacco products and cigarette papers and tubes to remove these articles without payment of tax for use by Federal agencies in their law enforcement activities, and to exempt packages of those removed products from the tax-exempt labeling requirement. We take this action to timely meet the needs of Federal law enforcement operations, particularly investigations involving tobacco diversion and cigarette smuggling. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 04/15/05 70 FR 19888 Interim Final Rule Effective 04/15/05 Interim Final Rule Comment Period End 06/15/05 Final Rule 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Maria E. Mahone, Writer-Editor, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 202 927-1620 Fax: 202 927-8525 Email: maria.mahone@ttb.gov RIN: 1513-AA99 _______________________________________________________________________ 2201. TAX CLASSIFICATION OF CIGARS AND CIGARETTES Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 5142 to 5143; 26 USC 5146; 26 USC 5701; 26 USC 5703 to 5705; 26 USC 5711 to 5713; 26 USC 5721 to 5723; 26 USC 5731; 26 USC 5741; 26 USC 5751; 26 USC 5753 to 5754; 26 USC 5761 to 5763; 26 USC 6061; 26 USC 6065; 26 USC 6109; 26 USC 6151; 26 USC 6301 to 6302; 26 USC 6311; 26 USC 6313; 26 USC 6402; 26 USC 6404; 26 USC 6423; 26 USC 6676; 26 USC 6806; 26 USC 7011; 26 USC 7212; 26 USC 7325; 26 USC 7342; 26 USC 7502 to 7503; 26 USC 7606; 26 USC 7805; 31 USC 9301; 31 USC 9303 to 9304; 31 USC 9306; 18 USC 2342; 26 USC 5708; 26 USC 7101; 26 USC 7651 to 7652; 44 USC 3504(h) CFR Citation: 27 CFR 40.11 to 40.13; 27 CFR 41.11 to 41-13; 27 CFR 44.11 to 4-13; 27 CFR 45.11 to 45-13 Legal Deadline: None Abstract: TTB is proposing changes to the regulations that govern the classification and labeling of cigars and cigarettes for Federal excise tax purposes under the Internal Revenue Code of 1986. The proposed regulatory changes address concerns that TTB has [[Page 23020]] regarding the adequacy of the current regulatory standards for distinguishing between cigars and cigarettes. The document also summarizes and responds to three petitions received by TTB requesting rulemaking action regarding the classification of cigars and cigarettes, with particular reference to the distinction between little cigars and cigarettes. The proposals contained in this document clarify the application of existing statutory definitions and update and codify administrative policy to provide clearer and more objective product classification criteria. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 10/25/06 71 FR 62506 Comment Period Extended 12/05/06 71 FR 70476 NPRM Comment Period End 12/26/06 Comment Period End 03/26/07 Final Rule 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Linda W. Chapman, TTB Specialist, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, 1310 G Street NW., Suite 200E, Washington, DC 20220 Phone: 202 927-8181 Fax: 202 927-8525 Email: linda.chapman@ttb.gov RIN: 1513-AB34 _______________________________________________________________________ 2202. IMPLEMENTATION OF PUBLIC LAW 105-33, SECTION 9302, RELATING TO TOBACCO PRODUCT MINIMUM MANUFACTURING REQUIREMENTS AND TRANSFER MARKING Priority: Substantive, Nonsignificant Legal Authority: 26 USC 5702 to 5703; 26 USC 5704(b); 26 USC 5712 to 5713; 26 USC 5741; 26 USC 5754; 26 USC 5761(c) CFR Citation: 27 CFR 40.61(b); 27 CFR 40.183; 27 CFR 40.213; 27 CFR 40.233; 27 CFR 41.1; 27 CFR 41.11; 27 CFR 41.71; 27 CFR 44.11; 27 CFR 44.61 to 44.61a; 27 CFR 44.62; 27 CFR 44.142 to 44.143; 27 CFR 44.147; 27 CFR 44.152 to 44.154; 27 CFR 44.181; 27 CFR 44.198 to 44.208; 27 CFR 44.210; 27 CFR 44.213; 27 CFR 44.256 to 44.267 Legal Deadline: None Abstract: The Alcohol and Tobacco Tax and Trade Bureau (TTB) is adopting as a final rule, with some editorial changes, the temporary regulations implementing (1) several provisions of the Balanced Budget Act of 1997 relating to minimum manufacturing requirements for tobacco product manufacturers to qualify for a permit and transfer of tobacco products, and (2) miscellaneous administrative changes that update references to TTB form numbers and recordkeeping requirements under the tobacco program. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Rule 09/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Amy R. Greenberg, Management Analyst, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 202 927-8210 Fax: 202 927-8525 Email: amy.greenberg@ttb.gov Related RIN: Related to 1512-AB99 RIN: 1513-AB37 _______________________________________________________________________ 2203. TOBACCO PRODUCTS AND CIGARETTE PAPERS AND TUBES SHIPPED FROM PUERTO RICO TO THE U.S. Priority: Substantive, Nonsignificant Legal Authority: 26 USC 5703; 26 USC 57.11; 26 USC 5641 CFR Citation: 27 CFR 41.11; 27 CFR 41.29; 27 CFR 41.105 to 41.106; 27 CFR 41.110 to 41.111; 27 CFR 41.114; 27 CFR 41.121 Legal Deadline: None Abstract: The Alcohol and Tobacco Tax and Trade Bureau (TTB) is adopting as a final rule, with some editorial changes, the temporary regulations concerning TTB onsite supervision of, and TTB forms for, certain tobacco products and cigarette papers and tubes manufactured in Puerto Rico and shipped from Puerto Rico to the United States. The temporary regulations eliminated TTB supervision and related forms when taxes are determined. Companies in Puerto Rico who currently ship Puerto Rican tobacco products from Puerto Rico to the United States are required to use commercial records to document such shipments. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Rule 09/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Amy R. Greenberg, Management Analyst, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 202 927-8210 Fax: 202 927-8525 Email: amy.greenberg@ttb.gov Related RIN: Related to 1513-AA17, Related to 1512-AC24 RIN: 1513-AB38 _______________________________________________________________________ 2204. IMPLEMENTATION OF WINE CREDIT PROVISIONS OF PUBLIC LAW 104-188 Priority: Substantive, Nonsignificant Legal Authority: 5 USC 552(a); 26 USC 5041 CFR Citation: 27 CFR 24.278 to 24.279 Legal Deadline: None Abstract: TTB is amending wine regulations to implement a change in the law that allows certain transferees in bond to deduct the tax credit for small wine producers. Changes to bond calculations are also included in this regulation. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/02/97 62 FR 29681 NPRM Comment Period End 08/01/97 Interim Final Rule 06/02/97 62 FR 29663 Final Rule 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1512-AB65 Agency Contact: Marjorie D. Ruhf, Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 [[Page 23021]] Phone: 202 927-8210 Fax: 202 927-8525 Email: marjorie.ruhf@ttb.gov RIN: 1513-AA05 _______________________________________________________________________ 2205. IMPLEMENTATION OF PUBLIC LAW 105-33, SECTION 9302, REQUIRING THE QUALIFICATION OF TOBACCO PRODUCT IMPORTERS AND MISCELLANEOUS TECHNICAL AMENDMENTS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 5712 to 5713 CFR Citation: 27 CFR 41 Legal Deadline: None Abstract: These regulations will implement section 9302 provisions of Public Law 105-33, requiring permits for businesses engaged in importing tobacco products. Also, minor technical amendments have been included in this rule. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/22/99 64 FR 71955 NPRM Comment Period End 02/22/00 Interim Final Rule 12/22/99 64 FR 71947 Interim Final Rule Effective 01/01/00 Interim Final Rule Comment Period End 05/03/00 65 FR 17477 Final Rule 09/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: Transferred from RIN 1512-AC07 Agency Contact: Linda W. Chapman, TTB Specialist, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, 1310 G Street NW., Suite 200E, Washington, DC 20220 Phone: 202 927-8181 Fax: 202 927-8525 Email: linda.chapman@ttb.gov RIN: 1513-AA10 _______________________________________________________________________ 2206. PROPOSAL TO RECOGNIZE SYNONYMS FOR PETITE SIRAH AND ZINFANDEL GRAPE VARIETIES Priority: Substantive, Nonsignificant Legal Authority: 27 USC 205 CFR Citation: 27 CFR 4 Legal Deadline: None Abstract: TTB is proposing to amend the list of prime grape names for American wines to recognize the name ``Durif'' as a synonym for the Petite Sirah grape and to recognize the name ``Primitivo'' as a synonym for the Zinfandel grape. This is in response to the result of recent DNA research into the identity of these grape varieties. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/10/02 67 FR 17312 NPRM Comment Period Extended 06/06/02 67 FR 38915 NPRM Comment Period End 10/08/02 Final Rule 01/00/08 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: Transferred from RIN 1512-AC65 Agency Contact: Jennifer Berry, TTB Specialist, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, P.O. Box 18152, Roanoke, VA 24014 Phone: 540 344-9333 Fax: 540 344-5855 Email: jennifer.berry@ttb.gov RIN: 1513-AA32 _______________________________________________________________________ 2207. ORGANIC CLAIMS IN LABELING AND ADVERTISING OF ALCOHOL BEVERAGES Priority: Info./Admin./Other Legal Authority: 27 USC 205 CFR Citation: 27 CFR 4; 27 CFR 5; 27 CFR 7; 27 CFR 13 Legal Deadline: None Abstract: TTB amended its alcohol beverage labeling rules to cross- reference the U.S. Department of Agriculture's National Organic Program (NOP) rules. The mandatory compliance date for the NOP rules was October 21, 2002. TTB requested comments on the temporary rule in an associated notice of proposed rulemaking. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 10/08/02 67 FR 62860 Temporary Rule 10/08/02 67 FR 62856 NPRM Comment Period Reopened 12/27/02 67 FR 79011 NPRM Comment Period Reopened 05/09/03 68 FR 24903 Final Rule 08/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: Transferred from RIN 1512-AC87 Agency Contact: Marjorie D. Ruhf, Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 202 927-8210 Fax: 202 927-8525 Email: marjorie.ruhf@ttb.gov RIN: 1513-AA46 _______________________________________________________________________ 2208. PETITION TO ESTABLISH THE FORT ROSS SEAVIEW VITICULTURAL AREA Priority: Routine and Frequent Legal Authority: 27 USC 205 CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: The proposed 27,500-acre Fort Ross-Seaview viticultural area is in the North Coast and Sonoma Coast viticultural areas. It is approximately 65 miles north-northwest from San Francisco, close to the Pacific coastline. TTB is considering an interim ruling to allow use of the AVA name within the originally petitioned boundaries, while opening for public comments an adjacent proposed area located immediately north of the original boundary line. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/12/05 70 FR 25000 NPRM Comment Period End 06/08/05 Final Rule 04/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy Sutton, AVA Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 415 271-1254 [[Page 23022]] Fax: 707-778-6349 Email: nancy.sutton@ttb.gov RIN: 1513-AA64 _______________________________________________________________________ 2209. PETITION TO ESTABLISH CALISTOGA AS AN AMERICAN VITICULTURAL AREA Priority: Routine and Frequent Legal Authority: 27 USC 205 CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: In response to a petition, the Alcohol and Tobacco Tax and Trade Bureau proposed to establish the Calistoga viticultural area in Calistoga, Napa Valley, California. We designate viticultural areas to allow bottlers to better describe the origin of wines and allow consumers to better identify the wines they may purchase. We invited comments on this proposed addition to our regulations, particularly from bottlers who use brand names similar to Calistoga. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 03/31/05 70 FR 16451 NPRM Comment Period End 05/31/05 Final Rule 09/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Amy R. Greenberg, Management Analyst, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 202 927-8210 Fax: 202 927-8525 Email: amy.greenberg@ttb.gov RIN: 1513-AA92 _______________________________________________________________________ 2210. MATERIALS AUTHORIZED FOR THE TREATMENT OF WINE AND JUICE; PROCESSES AUTHORIZED FOR THE TREATMENT OF WINE, JUICE, AND DISTILLING MATERIAL Priority: Substantive, Nonsignificant Legal Authority: 26 USC 5381 to 5382; 26 USC 5385 to 5387 CFR Citation: 24 CFR 246; 24 CFR 248 Legal Deadline: None Abstract: TTB is revising its lists of approved wine treating materials and processes to add several new materials and processes and revise existing limitations for a few others. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 11/19/04 69 FR 67639 Interim Final Rule Comment Period End 01/18/05 Final Rule 07/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Jennifer Berry, TTB Specialist, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, P.O. Box 18152, Roanoke, VA 24014 Phone: 540 344-9333 Fax: 540 344-5855 Email: jennifer.berry@ttb.gov RIN: 1513-AA96 _______________________________________________________________________ 2211. SUSPENSION OF SPECIAL (OCCUPATIONAL) TAX Priority: Substantive, Nonsignificant Legal Authority: PL 108-357, sec 246; 26 USC 5148 CFR Citation: 27 CFR 17; 27 CFR 19; 27 CFR 24 to 27; 27 CFR 194 Legal Deadline: Final, Statutory, July 1, 2005, section 246 of the American Jobs Creation Act of 2004. Abstract: Implements section 246 of the American Jobs Creation Act of 2004 (Pub. L. 208-357), which provides that for the 3-year period from July 1, 2005 through June 30, 2008, the rate of special (occupational) tax on certain specified occupations shall be zero. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 10/31/05 70 FR 62238 Interim Final Rule Effective 07/01/05 NPRM 10/31/05 70 FR 62258 NPRM Comment Period End 12/30/05 Final Rule 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Steven C. Simon, Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Suite 200E, 1310 G Street NW., Washington, DC 20220 Phone: 202 927-8210 Fax: 202 927-8525 Email: steven.simon@ttb.gov RIN: 1513-AB04 _______________________________________________________________________ 2212. [bull] IMPLEMENTATION OF PUBLIC LAW 103-465, SECTION 712, TIME FOR PAYMENT AND DEPOSITS OF CERTAIN EXCISE TAXES (NO. 277) Priority: Other Significant Legal Authority: 26 U.S.C. 5061(d) CFR Citation: 27 CFR 19.522, 19.523; 27 CFR 24.271; 27 CFR 25.163, 25.164; 27 CFR 26.112; 27 CFR 26.164; 27 CFR 40.163-165; 27 CFR 40.355; 27 CFR 41.114; 27 CFR 53.11; 27 CFR 53.21-24; 27 CFR 53.142; 27 CFR 53.151, 53.152; 27 CFR 53.157, 53.158; 27 CFR 70.306 Legal Deadline: None Abstract: TTB is finalizing a temporary rule which implements the Uruguay Round Agreement Act Public Law 103-465, Section 712, Time for Payment and Deposits of Certain Excise Taxes. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Rule 08/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Kara T. Fontaine, Management Analyst, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, 1310 G Street NW, Suite 200E, Washington, DC 20220 Phone: 202 927-1621 Fax: 202-927-8595 Email: kara.fontaine@ttb.gov RIN: 1513-AB43 [[Page 23023]] _______________________________________________________________________ Department of the Treasury (TREAS) Long-Term Actions Alcohol and Tobacco Tax and Trade Bureau (TTB) _______________________________________________________________________ ALCOHOL ____________________________________________________ 2213. PROHIBITION OF ALCOHOL BEVERAGE CONTAINERS AND STANDARD OF FILL FOR DISTILLED SPIRITS AND WINE Priority: Substantive, Nonsignificant CFR Citation: 27 CFR 4 to 5; 27 CFR 7 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 02/09/99 64 FR 6486 NPRM Comment Period End 04/12/99 Revised NPRM-Aggregate Packaging04/00/08 Revised NPRM-Deceptive Packaging04/00/08 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Lisa M. Gesser Phone: 301 290-1460 Fax: 301 290-1463 Email: lisa.gesser@ttb.gov RIN: 1513-AA07 _______________________________________________________________________ 2214. USE OF VARIOUS WINEMAKING TERMS ON WINE LABELS AND IN ADVERTISEMENTS; REQUEST FOR PUBLIC COMMENT Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. CFR Citation: 27 CFR 4 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 04/00/08 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Lisa M. Gesser Phone: 301 290-1460 Fax: 301 290-1463 Email: lisa.gesser@ttb.gov RIN: 1513-AB24 _______________________________________________________________________ Administrative/Procedures ____________________________________________________ 2215. AVAILABILITY OF INFORMATION Priority: Info./Admin./Other CFR Citation: 27 CFR 70 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/08 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Kara T. Fontaine Phone: 202 927-1621 Fax: 202-927-8595 Email: kara.fontaine@ttb.gov RIN: 1513-AA98 _______________________________________________________________________ 2216. EXPORTATION OF LIQUORS Priority: Substantive, Nonsignificant CFR Citation: 27 CFR 28 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 09/08/92 57 FR 40887 ANPRM Comment Period End 10/08/92 ANPRM Comment Period Extended 10/15/92 57 FR 47320 ANPRM Comment Period Extended End 12/07/92 Second ANPRM 08/09/96 61 FR 41500 Second ANPRM Comment Period End 12/10/96 NPRM 06/00/08 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Joanne Brady Phone: 215 333-7050 Fax: 215 333-8871 Email: joanne.brady@ttb.treas.gov RIN: 1513-AA00 _______________________________________________________________________ 2217. IMPLEMENTATION OF PUBLIC LAW 105-34, SECTION 1416, RELATING TO REFUND OF TAX FOR DOMESTIC WINE RETURNED TO BOND REGARDLESS OF MERCHANTABILITY (TAXPAYER RELIEF ACT OF 1997) Priority: Substantive, Nonsignificant CFR Citation: 27 CFR 24.66; 27 CFR 24.295; 27 CFR 24.312 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule To Be Determined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Marjorie D. Ruhf Phone: 202 927-8210 Fax: 202 927-8525 Email: marjorie.ruhf@ttb.gov RIN: 1513-AA06 _______________________________________________________________________ 2218. AMENDED STANDARD OF IDENTITY FOR SHERRY Priority: Substantive, Nonsignificant CFR Citation: 27 CFR 4 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM To Be Determined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Marjorie D. Ruhf Phone: 202 927-8210 Fax: 202 927-8525 Email: marjorie.ruhf@ttb.gov RIN: 1513-AA08 _______________________________________________________________________ 2219. LABELING AND ADVERTISING OF MALT BEVERAGES Priority: Substantive, Nonsignificant CFR Citation: 27 CFR 7 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/08 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None [[Page 23024]] Agency Contact: Ramona L. Hupp Phone: 202 927-8210 Fax: 202 927-8525 Email: ramona.hupp@ttb.gov RIN: 1513-AA60 _______________________________________________________________________ Department of the Treasury (TREAS) Completed Actions Alcohol and Tobacco Tax and Trade Bureau (TTB) _______________________________________________________________________ 2220. PETITION TO ESTABLISH THE OUTER COASTAL PLAIN AMERICAN VITICULTURAL AREA Priority: Routine and Frequent CFR Citation: 27 CFR 9 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 02/09/07 72 FR 6165 Final Rule Effective 03/12/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Jennifer Berry Phone: 540 344-9333 Fax: 540 344-5855 Email: jennifer.berry@ttb.gov RIN: 1513-AB13 _______________________________________________________________________ 2221. TECHNICAL AMENDMENT TO REGULATIONS Priority: Substantive, Nonsignificant CFR Citation: 27 CFR 9 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 11/15/06 71 FR 66454 Final Rule Effective 11/15/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy Sutton Phone: 415 271-1254 Fax: 707-778-6349 Email: nancy.sutton@ttb.gov RIN: 1513-AB32 _______________________________________________________________________ 2222. PETITION TO ESTABLISH CHEHALEM MOUNTAINS AS A NEW AMERICAN VITICULTURAL AREA Priority: Routine and Frequent CFR Citation: 27 CFR 9 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 11/27/06 71 FR 68458 Final Rule Effective 12/27/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy Sutton Phone: 415 271-1254 Fax: 707-778-6349 Email: nancy.sutton@ttb.gov RIN: 1513-AA57 _______________________________________________________________________ 2223. PETITION TO ESTABLISH THE SHAWNEE HILLS VITICULTURAL AREA Priority: Routine and Frequent CFR Citation: 27 CFR 9 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 11/27/06 71 FR 68463 Final Rule Effective 12/27/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Rita D. Butler Phone: 202 927-8210 Fax: 202 927-8525 Email: rita.butler@ttb.gov RIN: 1513-AA70 _______________________________________________________________________ 2224. PROPOSED ESTABLISHMENT OF TRACY HILLS VITICULTURAL AREA Priority: Routine and Frequent CFR Citation: 27 CFR 9 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 11/08/06 71 FR 65409 Final Rule Effective 12/08/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy Sutton Phone: 202 927-8210 Fax: 202 927-8525 Email: nancy.sutton@ttb.gov RIN: 1513-AA89 BILLING CODE 4810--33--S _______________________________________________________________________ Department of the Treasury (TREAS) Proposed Rule Stage Comptroller of the Currency (OCC) _______________________________________________________________________ 2225. REGULATORY BURDEN REDUCTION AND TECHNICAL AMENDMENTS Priority: Substantive, Nonsignificant Legal Authority: 5 USC 301; 5 USC 504; 5 USC 552; 5 USC 554 to 557; 12 USC 1 et seq; 12 USC 24; 12 USC 24a; 12 USC 71; 12 USC 71a; 12 USC 84; 12 USC 92 to 92a; 12 USC 93 to 93a; 12 USC 161; 12 USC 164; 12 USC 215a-2; 12 USC 215a-3; 12 USC 375a to 375b; 12 USC 481 to 482; 12 USC 484; 12 USC 505; 12 USC 1442; 12 USC 1817 to 1818; 12 USC 1820 to 1821; 12 USC 1831m; 12 USC 1831p-1; 12 USC 1831o; 12 USC 1833e; 12 USC 1867; 12 USC 1951 et seq; 12 USC 1972; 12 USC 2601 et seq; 12 USC 2801 et seq; 12 USC 2901 et seq; 12 USC 3101 et seq; 12 USC 3102; 12 USC 3108; 12 USC 3401 et seq; 12 USC 3909; 12 USC 4717; 15 USC 77uu; 15 USC 78; 15 USC 78o-4; 15 USC 78o-5; 15 USC 78q; 15 USC 78q-1; 15 USC 78s; 15 USC 78u-2; 15 USC 78u-3; 15 USC 78w; 18 USC 641; 18 USC 1905 and 1906; 28 USC 2461 note; 29 USC 1204; 31 USC 330; 31 USC 5321; 31 USC 9701; 42 USC 3601; 42 USC 4012a; 42 USC 4104a; 42 USC 4104b; 42 USC 4106; 42 USC 4128; 44 USC 3506; 44 USC 3510 [[Page 23025]] CFR Citation: 12 CFR 1 to 5; 12 CFR 7; 12 CFR 9 to 11; 12 CFR 16; 12 CFR 19; 12 CFR 21; 12 CFR 22 to 23; 12 CFR 26 to 28; 12 CFR 31 to 32; 12 CFR 37; 12 CFR 40 Legal Deadline: None Abstract: This rulemaking would revise the OCC's rules in order to reduce regulatory burden and make technical, clarifying, and conforming changes. The revisions would update part 1 to codify recent OCC precedents and clarify current requirements, make technical changes to parts 4 and 5 to reflect the OCC's current organizational restructuring; simplify, clarify, and make conforming and technical corrections to the OCC's corporate application procedures and standards in part 5; conform parts 5, 23, 31 and 32 to the Federal Reserve Board's Regulation W; revise part 7 to clarify a national bank's authority to act as a guarantor or surety; update and clarify national bank authority to engage in electronic activities; conform part 9 to regulations adopted by the Securities and Exchange Commission; streamline certain requirements under part 16; amend part 34 to provide additional flexibility in selecting indices for use with adjustable rate mortgages; update and make technical corrections to part 37; amend various parts of title 12 to remove OCC authority over District of Columbia-chartered banks pursuant to the 2004 District of Columbia Omnibus Authorization Act and amend parts 5, 7, 19 and 24 to reflect by the Financial Services Regulatory Relief Act of 2006 (Pub. L. 109-351, 10/13/2006). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Heidi M. Thomas, Special Counsel, Department of the Treasury, Comptroller of the Currency, Legislative and Regulatory Activities Division, 250 E Street SW., Washington, DC 20219 Phone: 202 874-5090 Fax: 202 874-4889 Email: heidi.thomas@occ.treas.gov RIN: 1557-AC79 _______________________________________________________________________ 2226. INTERAGENCY PROPOSAL FOR MODEL PRIVACY FORM UNDER THE GRAMM-LEACH- BLILEY ACT Priority: Substantive, Nonsignificant Legal Authority: 15 USC 6801 et seq CFR Citation: 12 CFR 40 Legal Deadline: NPRM, Statutory, April 11, 2007, Interagency NPRM must be issued by 4/11/2007. Section 728 of the Financial Services Regulatory Relief Act of 2006 (Pub. L. 109-351, Oct. 13, 2006) requires that a model privacy form be issued in proposed form for comment no later than April 11, 2007. Abstract: Pursuant to section 728 of the Financial Services Regulatory Relief Act, the OCC, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, the National Credit Union Administration, the Federal Trade Commission, the Commodities Futures Trading Commission, and the Securities and Exchange Commission jointly are proposing to amend their rules that implement sections 502 and 503 of the Gramm-Leach-Bliley Act to allow financial institutions to provide a safe harbor model privacy form. This proposal also would remove the sample clauses contained in these rules as of two years after the publication date of a final rule. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 12/30/03 68 FR 75164 ANPRM Comment Period End 03/29/04 NPRM 03/29/07 72 FR 14940 NPRM Comment Period End 05/29/07 Regulatory Flexibility Analysis Required: Yes Small Entities Affected: Businesses Government Levels Affected: None Agency Contact: Heidi M. Thomas, Special Counsel, Department of the Treasury, Comptroller of the Currency, Legislative and Regulatory Activities Division, 250 E Street SW., Washington, DC 20219 Phone: 202 874-5090 Fax: 202 874-4889 Email: heidi.thomas@occ.treas.gov RIN: 1557-AC80 _______________________________________________________________________ 2227. ACCURACY AND INTEGRITY OF INFORMATION FURNISHED TO A CONSUMER REPORTING AGENCY Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1 et seq; 12 USC 24 (seventh); 12 USC 93a; 12 USC 481; 12 USC 484; 12 USC 1818; 15 USC 1681a; 15 USC 1681b; 15 USC 1681s; 15 USC 1681s-2; 15 USC 1681w; 15 USC 6801; 15 USC 6805 CFR Citation: Not Yet Determined Legal Deadline: None Abstract: OCC, along with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, the National Credit Union Administration, and the Federal Trade Commission, plans to issue a proposed rulemaking that would implement section 312 of the FACT Act relating to the accuracy and integrity of the information furnished to a consumer reporting agency and the ability of consumers to dispute information directly with persons who furnish information to a consumer reporting agency. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 03/22/06 71 FR 14419 ANPRM Comment Period End 05/22/06 NPRM 10/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Patrick T. Tierney, Senior Attorney, Department of the Treasury, Comptroller of the Currency, Legislative and Regulatory Activities Division, 250 E Street SW., Washington, DC 20219 Phone: 202 874-5090 Fax: 202 874-4889 Email: patrick.tierney@occ.treas.gov RIN: 1557-AC89 _______________________________________________________________________ 2228. [bull] LENDING LIMITS PILOT PROGRAM Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 12 USC 1 et seq.; 12 USC 84; 12 USC 93a CFR Citation: 12 CFR 32 Legal Deadline: None [[Page 23026]] Abstract: The OCC is reevaluating its lending limits pilot program, which authorizes special national bank lending limits for one to four family residential real estate loans, small business loans, and small farm loans. The program will expire on September 11, 2007, unless extended or made permanent. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Mitchell Plave, Counsel, Department of the Treasury, Comptroller of the Currency, Legislative and Regulatory Activities Division, 250 E Street SW., Washington, DC 20219 Phone: 202 874-5090 Fax: 202 874-4889 Email: mitchell.plave@occ.treas.gov Related RIN: Related to 1557-AB82, Related to 1557-AC83 RIN: 1557-AD03 _______________________________________________________________________ Department of the Treasury (TREAS) Final Rule Stage Comptroller of the Currency (OCC) _______________________________________________________________________ 2229. IDENTITY THEFT DETECTION, PREVENTION, AND MITIGATION PROGRAM FOR FINANCIAL INSTITUTIONS AND CREDITORS Priority: Substantive, Nonsignificant Legal Authority: 15 USC 1681c; 15 USC 1681m CFR Citation: 12 CFR 41 Legal Deadline: None Abstract: OCC, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision (the Federal Banking Agencies), the National Credit Union Administration, and the Federal Trade Commission are issuing a joint final rule establishing guidelines and regulations to implement sections 114 and 315 of the FACT Act of 2003. Section 114 requires the Federal Banking Agencies to jointly issue guidelines for financial institutions and creditors identifying patterns, practices, and specific forms of activity that indicate the possible existence of identity theft. In addition, the Federal Banking Agencies must issue regulations requiring each financial institution and creditor to establish reasonable policies and procedures to implement the guidelines. The regulations must contain a provision requiring a card issuer to notify the cardholder if the card issuer receives a notice of change of address for an existing account, and a short time later receives a request for an additional or replacement card. Section 315 of the FACT Act requires the Agencies to issue a regulation describing reasonable polices and procedures for a user of consumer credit reports that receives a notice of discrepancy from a consumer reporting agency, informing the user of a substantial discrepancy between the address for the consumer that the user provided to request the consumer report and the addresses in the file of the consumer reporting agency. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/18/06 71 FR 40786 NPRM Comment Period End 09/18/06 Final Action 07/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Deborah Katz, Senior Counsel, Department of the Treasury, Comptroller of the Currency, Legislative and Regulatory Activities Division, 250 E Street SW., Washington, DC 20219 Phone: 202 874-5090 Fax: 202 874-4889 Email: deborah.katz@occ.treas.gov RIN: 1557-AC87 _______________________________________________________________________ 2230. FAIR CREDIT REPORTING: AFFILIATE MARKETING REGULATIONS Priority: Other Significant Legal Authority: 12 USC 1 et seq; 12 USC 24 (seventh); 12 USC 93a; 12 USC 481; 12 USC 484; 12 USC 1818; 15 USC 1681a; 15 USC 1681b; 15 USC 1681s; 15 USC 1681w; 15 USC 6801; 15 USC 6805; PL 108-159 CFR Citation: 12 CFR 41 Legal Deadline: Other, Statutory, September 4, 2004, See section 214 of the FACT Act, PL 108-159. Abstract: OCC plans to issue a rulemaking that would implement the affiliate-sharing provisions of section 214 of the Fair and Accurate Credit Transactions Act (FACT Act). The regulation would implement the consumer notice and opt-out provisions of the FACT Act regarding the sharing of consumer information among affiliates for marketing purposes. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/15/04 69 FR 42502 Final Action 08/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Patrick T. Tierney, Senior Attorney, Department of the Treasury, Comptroller of the Currency, Legislative and Regulatory Activities Division, 250 E Street SW., Washington, DC 20219 Phone: 202 874-5090 Fax: 202 874-4889 Email: patrick.tierney@occ.treas.gov RIN: 1557-AC88 _______________________________________________________________________ 2231. IMPLEMENTATION OF A REVISED BASEL CAPITAL ACCORD (BASEL II) Priority: Economically Significant. Major under 5 USC 801. Unfunded Mandates: This action may affect the private sector under PL 104-4. Legal Authority: 12 USC 93a; 12 USC 3907; 12 USC 3909 CFR Citation: 12 CFR 3 Legal Deadline: None Abstract: As part of OCC's ongoing efforts to develop and refine capital standards to ensure the safety and soundness of the national banking system and to implement statutory requirements, OCC is amending various provisions of the capital rules for national banks. This change involves the implementation of the new [[Page 23027]] framework for the Basel Capital Accord (Basel II). OCC is conducting this rulemaking jointly with the other Federal Banking Agencies. In addition, the Federal Banking Agencies also have published for comment additional proposed Basel II Guidance. See 72 FR 9084 (February 28, 2007). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 08/04/03 68 FR 45900 NPRM 09/25/06 71 FR 55830 NPRM Comment Period End 01/23/07 NPRM Comment Period Extended From 01/23/2007 to 03/26/2007 12/26/06 71 FR 77518 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Ron Shimabukuro, Special Counsel, Department of the Treasury, Comptroller of the Currency, Legislative and Regulatory Activities Division, 250 E Street SW., Washington, DC 20219 Phone: 202 874-5090 Fax: 202 874-4889 Email: ron.shimabukuro@occ.treas.gov Related RIN: Split from 1557-AB14 RIN: 1557-AC91 _______________________________________________________________________ 2232. RISK-BASED CAPITAL GUIDELINES; CAPITAL ADEQUACY GUIDELINES; CAPITAL MAINTENANCE: DOMESTIC CAPITAL MODIFICATIONS (BASEL IA) Priority: Economically Significant. Major under 5 USC 801. Legal Authority: 12 USC 93a; 12 USC 3907; 12 USC 3909 CFR Citation: 12 CFR 3 Legal Deadline: None Abstract: As part of OCC's ongoing efforts to develop and refine the capital standards to enhance their risk sensitivity and ensure the safety and soundness of the national banking system, OCC is proposing to amend various provisions of the capital rules. This change involves amending the current risk-based capital rules for those banks that will not be subject to the new Basel Capital Accord (Basel II) capital framework. OCC is conducting this rulemaking jointly with the other Federal banking agencies. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 10/20/05 70 FR 61068 ANPRM Comment Period End 01/18/06 NPRM 12/26/06 71 FR 77446 NPRM Comment Period End 03/26/07 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Carl Kaminski, Attorney, Department of the Treasury, Comptroller of the Currency, Legislative and Regulatory Activities Division, 250 E Street SW., Washington, DC 20219 Phone: 202 874-5090 Fax: 202 874-4889 Email: carl.kaminski@occ.treas.gov RIN: 1557-AC95 _______________________________________________________________________ 2233. RISK-BASED CAPITAL STANDARDS: MARKET RISK Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1 et seq; 12 USC 93a; 12 USC 161; 12 USC 1818; 12 USC 3907; 12 USC 3909 CFR Citation: 12 CFR 3 Legal Deadline: None Abstract: As part of the ongoing effort to implement the Basel II capital framework, the OCC is proposing to amend the current market risk capital requirements for national banks. See the International Convergence of Capital Measurement and Capital Standards: A Revised Framework (June 2004) and the Application of Basel II to Trading Activities and the Treatment of Double Default (April 2005). This proposal is part of a joint Agency notice of proposed rulemaking with the other Federal Banking Agencies to make the current market risk capital requirements generally more risk sensitive for trading activities in banks and bank holding companies. Specifically, the Federal Banking Agencies propose to require banks to hold additional capital for the risk of default of trading positions beyond the 10-day horizon currently required by the current market risk capital requirement. A bank may develop its own approach or use an approach similar to that for credit risk of its non-trading positions to calculate the capital charge. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/25/06 71 FR 55958 NPRM Comment Period End 01/23/07 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Ron Shimabukuro, Special Counsel, Department of the Treasury, Comptroller of the Currency, Legislative and Regulatory Activities Division, 250 E Street SW., Washington, DC 20219 Phone: 202 874-5090 Fax: 202 874-4889 Email: ron.shimabukuro@occ.treas.gov RIN: 1557-AC99 _______________________________________________________________________ 2234. [bull] EXPANDED EXAMINATION CYCLE FOR CERTAIN SMALL INSURED DEPOSITORY INSTITUTIONS AND U.S. BRANCHES AND AGENCIES OF FOREIGN BANKS Priority: Substantive, Nonsignificant Legal Authority: 12 USC 93a; 5 USC 552; E.O. 12600; 5 USC 301; 12 USC 161; 12 USC 481 to 482; 12 USC 484(a); 12 USC 1442; 12 USC 1817(a)(3); 12 USC 1818(u) to 1818(v); 12 USC 1820(d)(6); 12 USC 1820(k); 12 USC 1821(c); 12 USC 1821(o); 12 USC 1821(t); 12 USC 1831m; 12 USC 1831p-1; 12 USC 1831o; 12 USC 1867; 12 USC 1951 et seq.; 12 USC 2601 et seq.; 12 USC 2801 et seq.; 12 USC 2901 et seq.; 12 USC 3101 et seq.; 12 USC 3401 et seq.; 15 USC 77uu(b); 15 USC 78q(c)(3); 18 USC 641; 18 USC 1905 to 1906; 29 USC 1204; 31 USC 9701; 42 USC 3601; 44 USC 3506; 44 USC 3510; 12 USC 1833e CFR Citation: 12 CFR 4 Legal Deadline: None Abstract: The OCC plans to use an interim final rule to amend 12 CFR part 4, the rule concerning the frequency of examination of national banks. The interim rule will implement section 605 of the Financial Services Regulatory Relief Act of 2006, Pub. L. No. 109-351, 120 Stat. 1966 (2006)(FSRRA), and conforming amendments made in H.R. 6345, Pub. L. No. 109-473, 120 Stat. [[Page 23028]] 3561 (2007). Section 605 of the FSRRA increased the availability of the extended 18-month examination cycle to well-qualified banks, e.g. those that are well-managed and well-capitalized, with composite Uniform Financial Institutions Rating System (UFIRS) supervisory ratings of ``outstanding'' (UFIRS 1) and assets of $500 million or less. Under the current version of Part 4, extended examination cycles are only available to well-qualified banks with assets of $250 million or less. OCC would revise part 4 to raise that figure to $500 million. The interim rule will also implement the discretion granted the OCC in H.R. 6345 to permit well-qualified banks with $500 million or less in total assets and composite ratings of ``good'' (UFIRS 1 or 2) to qualify for an 18-month examination cycle. The interim rule will define the term ``well managed'' to mean a bank with a UFIRS rating of 1 or 2 for management in the bank's latest supervisory review. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 04/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Mitchell Plave, Counsel, Department of the Treasury, Comptroller of the Currency, Legislative and Regulatory Activities Division, 250 E Street SW., Washington, DC 20219 Phone: 202 874-5090 Fax: 202 874-4889 Email: mitchell.plave@occ.treas.gov RIN: 1557-AD02 _______________________________________________________________________ Department of the Treasury (TREAS) Long-Term Actions Comptroller of the Currency (OCC) _______________________________________________________________________ 2235. RECORDKEEPING REQUIREMENTS FOR BANK EXCEPTIONS FROM SECURITIES BROKER OR DEALER REGISTRATION Priority: Substantive, Nonsignificant CFR Citation: Not Yet Determined Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM To Be Determined Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Stuart E. Feldstein Phone: 202 874-5090 Fax: 202 874-4889 Email: stuart.feldstein@occ.treas.gov RIN: 1557-AB93 _______________________________________________________________________ 2236. [bull] MANAGEMENT OFFICIAL INTERLOCKS Priority: Substantive, Nonsignificant Legal Authority: 12 USC 93a; 12 USC 3201 to 3208 CFR Citation: 12 CFR 26 Legal Deadline: None Abstract: OCC, along with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision are amending their rules regarding management interlocks to implement section 610 of the Financial Services Regulatory Relief Act of 2006 and to correct an inaccurate cross-reference in their existing regulations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 01/11/07 72 FR 1274 Interim Final Rule Effective 01/11/07 Interim Final Rule Comment Period End 02/12/07 Final Action To Be Determined Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Heidi M. Thomas, Special Counsel, Department of the Treasury, Comptroller of the Currency, Legislative and Regulatory Activities Division, 250 E Street SW., Washington, DC 20219 Phone: 202 874-5090 Fax: 202 874-4889 Email: heidi.thomas@occ.treas.gov RIN: 1557-AD01 _______________________________________________________________________ Department of the Treasury (TREAS) Completed Actions Comptroller of the Currency (OCC) _______________________________________________________________________ 2237. [bull] COMMUNITY REINVESTMENT ACT REGULATIONS Priority: Substantive, Nonsignificant Legal Authority: 12 USC 21 to 22; 12 USC 26 to 27; 12 USC 30; 12 USC 36; 12 USC 93a; 12 USC 161; 12 USC 215; 12 USC 215a; 12 USC 481; 12 USC 1814; 12 USC 1816; 12 USC 1828(c); 12 USC 1835a; 12 USC 2901 to 2907; 12 USC 3101 to 3111 CFR Citation: 12 CFR 25 Legal Deadline: None Abstract: OCC, along with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision issued a joint final rule to reinsert a provision that was removed in August 2005. The agencies also amended their CRA regulations to increase the asset-size threshold to be used to define ``small bank'' and ``intermediate small bank.'' Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action 12/29/06 71 FR 78335 Final Action Effective 01/01/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Margaret Hesse, Special Counsel, Department of the Treasury, Comptroller of the Currency, Community and Consumer Law Division, 250 E Street SW., Washington, DC 20219 [[Page 23029]] Phone: 202 874-5750 Fax: 202 874-5322 Email: margaret.hesse@occ.treas.gov RIN: 1557-AD00 BILLING CODE 4830--01--S _______________________________________________________________________ Department of the Treasury (TREAS) Prerule Stage Internal Revenue Service (IRS) _______________________________________________________________________ 2238. [bull] IMPOSITION OF WITHHOLDING ON CERTAIN PAYMENTS MADE BY GOVERNMENT ENTITIES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 3402(t); 26 USC 7805 CFR Citation: 26 CFR 24.3402(t) Legal Deadline: None Abstract: Section 3402(t)was enacted by the Tax Increase Prevention & reconciliation Act of 2005 to require certain governmental entities to withhold on certain payments for ervice property. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 07/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Federal, Local, State Federalism: Undetermined Additional Information: REG-58747-06 Drafting attorney: Stephen J. Coleman (202) 622-3228 Reviewing attorney: James Gibbons (202) 622-4910 CC: PA: APJ Agency Contact: Stephen J. Coleman, Attorney-Advisor (Tax), Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3228 Email: stephen.j.coleman@irscounsel. treas.gov RIN: 1545-BG45 _______________________________________________________________________ Department of the Treasury (TREAS) Proposed Rule Stage Internal Revenue Service (IRS) _______________________________________________________________________ 2239. INCOME TAX--TAXPAYER'S OBLIGATION TO FILE A NOTICE OF REDETERMINATION OF FOREIGN TAX AND CIVIL PENALTIES FOR FAILURE TO FILE Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 905; 26 USC 6689 CFR Citation: 26 CFR 1; 26 CFR 301; 26 CFR 602 Legal Deadline: None Abstract: The regulations will establish procedures for taxpayers by which they must notify the IRS of a change in foreign tax liability for a taxable year for which they claimed the foreign tax credit. In addition, the regulations set forth deadlines for compliance with the notification requirements; failure to meet those deadlines may result in the imposition of penalties. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/23/88 53 FR 23659 Second NPRM 04/00/07 Final Action 04/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-209020-86 (INTL-061-86) Drafting attorney: Teresa B. Hughes (202) 622-3850 Reviewing attorney: Ginny Y. Chung (202) 622-3850 Treasury attorney: Jesse Eggert (202) 622-1540 CC: INTL Agency Contact: Teresa B. Hughes, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3850 Fax: 202 622-4476 Email: teresa.b.hughes@irscounsel. treas.gov RIN: 1545-AC09 _______________________________________________________________________ 2240. CLARIFICATION OF TREATMENT OF SEPARATE LIMITATION LOSSES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Section 1203 of the Tax Reform Act of 1986 amends section 904(f) by adding paragraph (f)(5) at the end thereof, which requires that foreign source losses with respect to any income category first offset a taxpayer's other foreign source income before such losses offset the taxpayer's U.S. source income. The regulation will provide rules for the allocation of foreign source losses. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-209044-89 (INTL-338-89) Drafting attorney: Jeffrey L. Parry (202) 622-3850 Reviewing attorney: Bethany Ingwalson (202) 622-3850 CC:INTL Agency Contact: Jeffrey L. Parry, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3850 RIN: 1545-AM11 [[Page 23030]] _______________________________________________________________________ 2241. OUTBOUND TRANSFERS OF PROPERTY TO FOREIGN CORPORATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 367 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The income tax regulations under section 367(a) will be amended to reflect the changes made to that section by the Technical and Miscellaneous Corrections Act of 1988. Section 367(a)(5) now provides that a transfer of assets to a foreign corporation in an exchange described in section 361 is subject to section 367(a)(1), unless certain ownership requirements and other conditions are met. The regulations will provide guidance regarding the application of this section. The change in the statute was necessitated by the repeal of ``General Utilities.'' Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-209006-89 (INTL-089-89) Drafting attorney: Daniel M. McCall (202) 622-3860 Reviewing attorney: Charles P. Besecky (202) 622-3860 CC:INTL Agency Contact: Daniel M. McCall, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3860 RIN: 1545-AM97 _______________________________________________________________________ 2242. FOREIGN INSURANCE COMPANY--DOMESTIC ELECTION Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 953 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will provide substantive and procedural rules regarding the election under section 953(d) to treat certain controlled foreign corporations engaged in the insurance business as domestic corporations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-208980-89 (INTL-765-89) Drafting attorney: Ethan A. Atticks (202) 622-3840 Reviewing attorney: Phyllis Marcus (202) 622-3840 CC:INTL Agency Contact: Ethan A. Atticks, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3840 RIN: 1545-AO25 _______________________________________________________________________ 2243. TAXATION OF GLOBAL TRADING Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 864; 26 USC 482; 26 USC 863 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These regulations will improve the taxation of global trading. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 08/28/90 55 FR 35152 NPRM 03/06/98 63 FR 11177 NPRM Comment Period End 06/04/98 Hearing 07/14/98 Second NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-208299-90 (INTL-70-90) Drafting attorney: Gregory A. Spring (202) 622-3870 Reviewing attorney: Paul S. Epstein (202) 622-3870 Treasury attorney: Jesse Eggert (202) 622-1540 CC:INTL Agency Contact: Gregory A. Spring, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3870 RIN: 1545-AP01 _______________________________________________________________________ 2244. DEFINITION OF ``HIGHLY COMPENSATED EMPLOYEE'' Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 414 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulations define the term ``highly compensated employee'' under section 414(q) of the Code. Temporary and proposed regulations, under sections 414(q) and 414(s), were published February 19, 1988 (53 FR 4965). Final regulations, under section 414(s), were published September 19, 1991 (56 FR 47659), under project EE-129-86. The regulations under 414(q) were split off from project EE-129-86. It is anticipated that proposed regulations under section 414(q) will be published in the future under project REG-209558-92 (EE-32-92). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 02/19/88 53 FR 4999 NPRM Comment Period End 04/19/88 Partially Closed by TD 8548 06/27/94 59 FR 32911 NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Local, State Federalism: Undetermined Additional Information: REG-209558-92 Drafting attorney: Christopher A. Crouch (202) 622-6090 Reviewing attorney: E. Preston Rutledge (202) 622-6090 Treasury attorney: W. Thomas Reeder (202) 622-1341 CC: TEGE Agency Contact: Christopher A. Crouch, Attorney Advisor, Department of the Treasury, Internal Revenue [[Page 23031]] Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6090 Fax: 202 927-1851 Email: christopher.a.crouch@irscounsel. treas.gov RIN: 1545-AQ74 _______________________________________________________________________ 2245. INTEGRATED FINANCIAL TRANSACTION Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 864 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulation addresses whether funding raised for a securities dealing and/or trading operation, and whether matched book sale and repurchase transactions conducted by securities dealers qualify as integrated financial transactions under section 1.861-10(c). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-209604-93 (INTL-001-93) Drafting attorney: Theodore D. Setzer (202) 622-3870 Reviewing attorney: Paul S. Epstein (202) 622-3870 CC:INTL Agency Contact: Theodore D. Setzer, Senior Counsel, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3870 RIN: 1545-AR20 _______________________________________________________________________ 2246. APPLICATION OF ATTRIBUTION RULES TO FOREIGN TRUSTS Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulations will provide attribution rules for foreign trusts with respect to foreign personal holding companies, foreign passive investment companies, and controlled foreign corporations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Federalism: Undetermined Additional Information: REG-252774-96 Drafting attorney: M. Grace Fleeman (202) 622-3880 Reviewing attorney: Elizabeth Karzon (202) 622-3880 CC:INTL Agency Contact: M. Grace Fleeman, Senior Technical Reviewer, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3880 RIN: 1545-AU91 _______________________________________________________________________ 2247. AGREEMENTS FOR PAYMENT OF TAX LIABILITIES IN INSTALLMENTS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 6159; 26 USC 7805 CFR Citation: 26 CFR 301 Legal Deadline: None Abstract: Section 6159 of the Internal Revenue Code allows the IRS to enter into agreements with taxpayers for the payment of tax liabilities in installments. The principal purpose of this project is to update the regulations under section 6159 to reflect various amendments to that section and related statutes. The proposed regulations govern the acceptance and rejection of installment agreements, the terms of those agreements and when they may be modified or terminated by the Service, and appeal procedures when the Service makes a rejection or termination decision. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/31/97 62 FR 68241 Second NPRM 01/21/98 63 FR 3186 Third NPRM 05/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-100841-97 Drafting attorney: G. William Beard (202) 622-3620 Reviewing attorney: Lawrence Schattner (202) 622-3620 CC:PA:CBS Agency Contact: William Beard, Senior Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4173 Fax: 202 622-8882 Email: gene.w.beard@irscounsel. treas.gov RIN: 1545-AU97 _______________________________________________________________________ 2248. SUBSTANTIATING TRAVEL EXPENSE DEDUCTIONS FOR MEMBERS OF CONGRESS Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1; 26 CFR 5 Legal Deadline: None Abstract: This regulation provides rules for the substantiation of Congress members' travel expenses. The current regulations are out of date because the authorizing legislation was subsequently repealed. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-105513-97 Drafting attorney: George B. Baker (202) 622-4930 Treasury attorney: Eric San Juan (202) 622-0224 CC: ITA Agency Contact: George B. Baker, Branch Chief, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4930 RIN: 1545-AV55 [[Page 23032]] _______________________________________________________________________ 2249. CONSTRUCTIVE SALES OF APPRECIATED FINANCIAL POSITIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These regulations relate to principles for determining if a taxpayer has constructively sold an appreciated financial position. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/00/07 Regulatory Flexibility Analysis Required: Undetermined Small Entities Affected: Businesses, Organizations Government Levels Affected: None Additional Information: REG-102191-98 Drafting attorney: Kathleen A. Sleeth (202) 622-3920 Reviewing attorney: Elizabeth A. Handler (202) 622-3157 Treasury attorney: Michael Novey (202) 622-1339 CC:FI Agency Contact: Kathleen A. Sleeth, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3920 Email: kathleen.a.sleeth@irscounsel. treas.gov RIN: 1545-AW97 _______________________________________________________________________ 2250. RULES FOR SOURCING CERTAIN TRANSPORTATION INCOME, SPACE, OR OCEAN ACTIVITY INCOME, AND RELATED FOREIGN BASE COMPANY SHIPPING INCOME Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulation provides guidance for application of the source rules for transportation income under section 863(c). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-115557-98 Drafting attorney: Patricia A. Bray (202) 622-3880 Reviewing attorney: Edward R. Barret (202) 622-3880 Treasury attorney: Jesse Eggert (202) 622-1540 CC:INTL Agency Contact: Patricia A. Bray, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3880 RIN: 1545-AX02 _______________________________________________________________________ 2251. GUIDANCE ON COST RECOVERY IN THE ENTERTAINMENT INDUSTRY Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation relates to the application of the income forecast method under section 167(g) of the Internal Revenue Code. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/31/02 67 FR 38025 Second NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-103823-99 Drafting attorney: Bernard P. Harvey, III (202) 622-3110 Reviewing attorney: Charles B. Ramsey (202) 622-3110 Treasury attorney: Dennis Tingey (202) 622-1335 CC:PSI Agency Contact: Bernard P. Harvey III, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3110 RIN: 1545-AX12 _______________________________________________________________________ 2252. INSPECTION OF WRITTEN DETERMINATIONS Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 301 Legal Deadline: None Abstract: This regulation amends Treasury Regulation sections 301.6110- 1 through 301.6110-7 relating to written determinations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-113129-98 Drafting attorney: Deborah C. Lambert-Dean (202) 622-4570 Reviewing attorney: Donald Squires (202) 622-4570 Treasury attorney: Eric San Juan (202) 622-0224 CC:PA:DPL Agency Contact: Deborah C. Lambert-Dean, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4570 RIN: 1545-AX40 _______________________________________________________________________ 2253. AWARDING OF COSTS AND CERTAIN FEES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 7430 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The proposed amendments to the Treasury Regulations incorporate the 1997 and 1998 amendments to 26 U.S.C. 7430, relating to the awarding of attorney's fees in administrative and court proceedings. The amendments to 26 U.S.C. 7430 were enacted under the Taxpayer Relief Act of 1997 and the IRS Restructuring and Reform Act of 1998. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 [[Page 23033]] Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-111833-99 Drafting attorney: Tami C. Belouin (202) 622-3847 Reviewing attorneys: Susan T. Mosley (202) 622-7950 and Henry S. Schneiderman (202) 622-3400 Treasury attorney: Michael Desmond (202) 622-1981 CC:PA:APJ Agency Contact: Tami C. Belouin, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3847 RIN: 1545-AX46 _______________________________________________________________________ 2254. MODIFICATION TO SECTION 367(A) STOCK TRANSFER REGULATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 367; 26 USC 7805 CFR Citation: 26 CFR 1; 26 CFR 602 Legal Deadline: None Abstract: This regulation will modify section 367(a), stock transfer regulations, to address the use of the check-the-box regulations and the use of convertible stock. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-116053-99 Drafting attorney: Daniel M. McCall (202) 622-3860 Reviewing attorney: Charles Besecky (202) 622-3860 CC: INTL Agency Contact: Daniel M. McCall, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3860 RIN: 1545-AX77 _______________________________________________________________________ 2255. DEFINITION OF PASSIVE FOREIGN INVESTMENT COMPANY UNDER SECTION 1297 Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 1297 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation defines a passive foreign investment company (PFIC) under section 1297(a) and the terms ``passive income'' and ``passive asset'' under section 1297(b). The regulation will also set forth the exceptions to the terms ``passive income'' and ``passive asset,'' and provide guidance on the applicability of the look-through rule under section 1297(c), in cases involving PFICs that own 25 percent or more of a lower-tier foreign subsidiary. In addition, the regulation will provide guidance under section 1297(e), regarding the overlap rule between a controlled foreign corporation and a PFIC. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-100427-00 Drafting attorney: Ethan A. Atticks (202) 622-3840 Reviewing attorney: Valerie A. Mark Lippe (202) 622-3840 Treasury attorney: David Ernick (202) 622-1754 CC:INTL Agency Contact: Ethan A. Atticks, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3840 RIN: 1545-AX78 _______________________________________________________________________ 2256. CLARIFICATION OF FOREIGN BASE COMPANY SALES INCOME RULES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 954 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will clarify application of the manufaturing exception in the foreign base company sales rules. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-106356-00 Drafting attorney: Ethan A. Atticks (202) 622-3840 Reviewing attorney: Phyllis E. Marcus (202) 622-3840 CC:INTL Agency Contact: Ethan A. Atticks, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3840 RIN: 1545-AX91 _______________________________________________________________________ 2257. TAXABLE YEARS OF CONTROLLED FOREIGN CORPORATIONS (CFCS) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 898 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will provide definitions and rules for determining the required year for certain CFCs. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-108523-00 Drafting attorney: Jeffrey L. Vinnik (202) 622-3840 Reviewing attorney: Phyllis Marcus (202) 622-3840 CC:INTL Agency Contact: Jeffrey L. Vinnik, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 [[Page 23034]] Phone: 202 622-3840 RIN: 1545-AY30 _______________________________________________________________________ 2258. DOLLAR-VALUE LIFO Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 26 USC 472; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will provide guidance under the dollar-value last-in, first-out (LIFO) inventory method for taxpayers that define LIFO items based on components of cost. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-107580-00 Drafting attorney: Leo F. Nolan II (202) 622-4970 Reviewing attorney: Jeffery G. Mitchell (202) 622-4970 Treasury attorney: Sharon Kay (202) 622-0865 CC:ITA Agency Contact: Leo F. Nolan II, General Attorney (Tax), Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-4970 Email: leo.f.nolan@irscounsel. treas.gov RIN: 1545-AY39 _______________________________________________________________________ 2259. SPECIAL RULES RELATING TO TRANSFERS OF INTANGIBLES TO FOREIGN CORPORATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 367 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulations will address the income tax consequences relating to the transfer of intangibles to foreign corporations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Federalism: Undetermined Additional Information: REG-106877-00 Drafting attorney: David B. Bailey (202) 622-3860 Reviewing attorney: Thomas D. Beem (202) 622-3860 Treasury attorney: David Ernick (202) 622-1754 CC:INTL Agency Contact: David B. Bailey, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3860 RIN: 1545-AY41 _______________________________________________________________________ 2260. LIABILITIES ASSUMED IN CERTAIN CORPORATE TRANSACTIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 357; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These proposed regulations relate to the assumption of liabilities in certain corporate transactions under section 357 of the Internal Revenue Code, and affect corporations and their shareholders. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 05/06/03 68 FR 23931 NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-100818-01 Drafting attorney: Douglas C. Bates (202) 622-7550 Reviewing attorney: Debra Carlisle (202) 622-7550 CC: COR Agency Contact: Douglas C. Bates, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7550 Fax: 202 622-4111 Email: douglas.c.bates@irscounsel. treas.gov RIN: 1545-AY74 _______________________________________________________________________ 2261. DISCLOSURE OF RETURNS AND RETURN INFORMATION IN JUDICIAL AND ADMINISTRATIVE TAX PROCEEDINGS Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 26 USC 6103; 26 USC 7805 CFR Citation: 26 CFR 301 Legal Deadline: None Abstract: This proposed rule relates to the disclosure of returns and return information in judicial and administrative tax proceedings pursuant to 26 U.S.C. 6103(h)(4). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-120297-01 Drafting attorney: Sarah Tate (202) 622-4570 Reviewing attorney: Donald M. Squires (202) 622-4570 Treasury attorney: Anita Soucy (202) 622-1766 CC: PA: DPL Agency Contact: Sarah Tate, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4570 RIN: 1545-AY89 _______________________________________________________________________ 2262. TRANSACTIONS INVOLVING OBLIGATIONS OF CONSOLIDATED GROUP MEMBERS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 1502 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The proposed regulations are in regard to intercompany obligations. [[Page 23035]] Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-107592-00 Drafting attorney: Frances L. Kelly (202) 622-7072 Reviewing attorney: Michael J. Wilder (202) 622-3393 CC: COR Agency Contact: Frances L. Kelly, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7072 Email: frances.l.kelly@irscounsel. treas.gov Related RIN: Related to 1545-AW30 RIN: 1545-BA11 _______________________________________________________________________ 2263. DEDUCTIBILITY OF EMPLOYER CONTRIBUTIONS FOR DEFERRED COMPENSATION Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These regulations will update and clarify the general rules for deductibility of employer contributions to qualified retirement plans and other deferred compensation arrangements. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-139449-01 Drafting attorney: Linda S.F. Marshall (202) 622-6090 Reviewing attorney: Mark Schwimmer (202) 622-6090 Treasury attorney: Thomas Reeder (202) 622-1341 CC:TEGE Agency Contact: Linda S.F. Marshall, Senior Counsel, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6090 RIN: 1545-BA13 _______________________________________________________________________ 2264. ALLOCATION AND APPORTIONMENT RULES: GUIDANCE ON SELECTED ISSUES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 863 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation provides guidance with respect to the allocation and apportionment under section 861 of selected deductions, e.g., disaster losses and research and experimentation expenses. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-128240-01 Drafting attorney: Teresa B. Hughes (202) 622-3850 Reviewing attorney: Anne O. Devereaux (202) 622-3850 Treasury attorney: John Harrington (202) 622-0589 CC:INTL Agency Contact: Teresa B. Hughes, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3850 Fax: 202 622-4476 Email: teresa.b.hughes@irscounsel. treas.gov RIN: 1545-BA64 _______________________________________________________________________ 2265. ALLOCATION OF NEW MARKETS TAX CREDIT Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 26 USC 45D; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulations will address how the section 45D new markets tax credit should be allocated to the partners of a partnership under section 704(b) of the Internal Revenue Code and will address related partnership issues. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-131999-02 Drafting attorney: Richard T. Probst (202) 622-3060 Reviewing attorney: James A. Quinn (202) 622-3060 CC: PSI Agency Contact: Richard T. Probst, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-3060 Fax: 202 622-3484 Email: richard.t.probst@irscounsel. treas.gov RIN: 1545-BA84 _______________________________________________________________________ 2266. ACCRUAL RULES FOR CREDITABLE FOREIGN TAXES AND GUIDANCE ON CHANGE IN TAXABLE YEAR Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These proposed regulations will clarify the rules for determining when a creditable foreign tax accrues and may be claimed as a credit, and will provide guidance for determining the allowable foreign tax credit upon a change in the U.S. taxable year. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None [[Page 23036]] Additional Information: REG-144597-02 Drafting attorney: Teresa B. Hughes (202) 622-3850 Reviewing attorney: Barbara A. Felker (202) 622-3850 CC:INTL Agency Contact: Teresa B. Hughes, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3850 Fax: 202 622-4476 Email: teresa.b.hughes@irscounsel. treas.gov RIN: 1545-BB27 _______________________________________________________________________ 2267. AMENDING THE LOW-INCOME HOUSING TAX CREDIT PROGRAM Priority: Substantive, Nonsignificant Legal Authority: 26 USC 42; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These regulations are amendments to the general public use requirements in the low-income housing tax credit program. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-151145-02 Drafting attorney: Jack Malgeri (202) 622-3040 Reviewing attorney: Paul Handleman (202) 622-3040 Treasury attorney: Sharon Kay (202) 622-0865 CC:PSI Agency Contact: Jack Malgeri, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3040 RIN: 1545-BB37 _______________________________________________________________________ 2268. SUBSTITUTE DIVIDEND PAYMENTS IN SECURITIES LENDING AND SIMILAR TRANSACTIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 7701; 26 USC 863 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation relates to taxation of cross-border and foreign-to-foreign substitute dividend payments in securities lending and similar transactions. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Federal Additional Information: REG-130751-01 Drafting attorney: Theodore D. Setzer (202) 622-3870 Reviewing attorney: Paul S. Epstein (202) 622-3870 CC:INTL Agency Contact: Theodore D. Setzer, Senior Counsel, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3870 RIN: 1545-BB56 _______________________________________________________________________ 2269. LOSS ON SUBSIDIARY STOCK Priority: Substantive, Nonsignificant Legal Authority: 26 USC 337(d); 26 USC 7805; 26 USC 1502 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulations will provide guidance to corporations that are members of an affiliated group filing a consolidated income tax return and that own stock of a subsidiary. The regulations will provide rules relating to the loss allowed on a disposition of subsidiary and stock, to the reduction of the subsidiary's attributes. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/23/07 72 FR 2964 NPRM Comment Period End 04/23/07 Final Action 06/00/08 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-157711-02 Drafting attorney: Phoebe Bennett (202) 622-7770 Reviewing attorney: Theresa Abell (202) 622-7700 CC: COR Agency Contact: Phoebe Bennett, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-7770 Fax: 202 622-0477 Email: phoebe.bennett@irscounsel. treas.gov RIN: 1545-BB61 _______________________________________________________________________ 2270. LIQUIDATION OF AN INTEREST Priority: Substantive, Nonsignificant Legal Authority: 26 USC 2704(b); 26 USC 7805 CFR Citation: 26 CFR 25 Legal Deadline: None Abstract: This regulation relates to additional rules for determining when restrictions on liquidation are disregarded in valuing an interest under section 2704 of the Internal Revenue Code. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-163113-02 Drafting attorney: John MacEachen (202) 622-7830 Reviewing attorney: George Masnik (202) 622-3090 Treasury attorney: Catherine Hughes (202) 622-9407 CC: PSI Agency Contact: John MacEachen, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7830 RIN: 1545-BB71 [[Page 23037]] _______________________________________________________________________ 2271. UTILITY ALLOWANCE REGULATION UPDATE Priority: Substantive, Nonsignificant Legal Authority: 26 USC 42; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will modify and update utility allowance regulations under section 1.42-10, which provides for an alternative method for computing utility allowances under section 1.42- 10(b)(4)(ii). Also, the regulation will provide for annual updates of utility allowances. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-128274-03 Drafting attorney: David Selig (202) 622-3040 Reviewing attorney: Paul Handleman (202) 622-3040 Treasury attorney: Sharon Kay (202) 622-0865 CC: PSI Agency Contact: David Selig, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3040 RIN: 1545-BC22 _______________________________________________________________________ 2272. ADDITIONAL GUIDANCE REGARDING MARK-TO-MARKET ACCOUNTING FOR TRADERS IN SECURITIES AND/OR COMMODITIES, INCLUDING FOREIGN CURRENCY INSTRUMENTS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Unfunded Mandates: Undetermined Legal Authority: 26 USC 7805; 26 USC 988(a)(1)(B) CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation provides additional rules relating to the trader mark-to-market election: 1) The coordination of income character rules of the mark-to-market regime with the capital election under section 988(a)(1)(B); 2) the definition of commodities for purposes of section 475; and 3) the application of the mark-to-market rules for traders that trade both securities and commodities in a single business. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-135660-03 Drafting attorney: Camille B. Evans (202) 622-3800 Reviewing attorney: Paul S. Epstein (202) 622-3870 Treasury attorney: Michael Novey (202) 622-1339 CC:INTL Agency Contact: Camille B. Evans, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3800 RIN: 1545-BC48 _______________________________________________________________________ 2273. COORDINATION OF UNITED STATES AND CERTAIN POSSESSIONS INCOME TAXES Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1; 26 CFR 301 Legal Deadline: None Abstract: Internal Revenue Code section 7654 contains provisions for coordination of United States and certain possessions income taxes. Specifically, section 7654 provides for ``cover over'' of the net collection of taxes imposed under chapter 1 or deducted and withheld under chapter 24. Section 7654 of the Internal Revenue Code of 1986 provides specific rules for cover over with regard to the possessions American Samoa and the U.S. Virgin Islands. Section 7654 of the 1954 Code, as amended in 1972 by Public Law 92-606, provides specific rules for cover over with regard to the possessions Guam and the Northern Mariana Islands (NMI). Section 7654 of the 1954 Code remains applicable to Guam and the NMI because neither of these two possessions has an effective implementing agreement with the United States, in accordance with the Tax Reform Act of 1986, Public Law 99- 514. The regulations will provide rules under both the 1954 Code and the 1986 Code versions of section 7654. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-139900-03 Drafting attorney: Javier G. Salinas (202) 435-5262 Reviewing attorney: Ricardo A. Cadenas (202) 435-5262 Treasury attorney: Gretchen Sierra (202) 622-1755 CC: INTL Agency Contact: Javier G. Salinas, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 435-5262 Related RIN: Related to 1545-BD32 RIN: 1545-BC54 _______________________________________________________________________ 2274. SUSPENSION OF RUNNING OF PERIOD OF LIMITATION DURING A PROCEEDING TO ENFORCE OR QUASH A DESIGNATED OR RELATED SUMMONS Priority: Substantive, Nonsignificant Legal Authority: 25 USC 6503; 26 USC 7805 CFR Citation: 26 CFR 1; 26 CFR 301 Legal Deadline: None Abstract: These regulations relate to the use of designated and related summonses and the effect on the period of limitations on assessment when a case is brought with respect to a designated or related summons. [[Page 23038]] Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/31/03 68 FR 44905 Second NPRM 05/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-208199-91 Drafting attorney: Elizabeth D. Rawlins (202) 622-3600 Reviewing attorney: Peter J. Devlin (202) 622-3600 Treasury attorney: Anita Soucy (202) 622-1766 CC: PA: CBS Agency Contact: Elizabeth D. Rawlins, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3600 RIN: 1545-BC55 _______________________________________________________________________ 2275. GUIDANCE UNDER SECTION 2053 REGARDING POST-DEATH EVENTS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Unfunded Mandates: Undetermined Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 20 Legal Deadline: None Abstract: These regulations relate to the amount deductible under section 2053(a)(3) of the Internal Revenue Code. The regulations will affect estates of decedents where claims exist against the decedent's estate. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Undetermined Federalism: Undetermined Additional Information: REG-143316-03 Drafting attorney: DeAnn K. Malone (202) 622-3112 Reviewing attorney: Melissa Liquerman (202) 622-7830 Treasury attorney: Cathy Hughes (202) 622-9407 CC: PSI Agency Contact: DeAnn K. Malone, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3112 RIN: 1545-BC56 _______________________________________________________________________ 2276. QUALIFIED ZONE ACADEMY BONDS; OBLIGATIONS OF STATES AND POLITICAL SUBDIVISIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulations will provide for permissible expenditure and use of proceeds, coordinate and make consistent provisions regarding determination of credit rate and maturity date. It will provide for remedial action in case of change in use of bond proceeds. The regulations will also implement the arbitrage and reporting requirements. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 03/26/04 69 FR 15747 Public Hearing 07/21/04 Second NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Governmental Jurisdictions Government Levels Affected: Local, State Additional Information: REG-121475-03 Drafting attorney: Zoran Stojanovic (202) 622-3980 Reviewing attorney: Timothy L. Jones (202) 622-3701 CC: TEGE Agency Contact: Zoran Stojanovic, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3980 Fax: 202 622-4437 Email: zoran.stojanovic@irscounsel. treas.gov RIN: 1545-BC61 _______________________________________________________________________ 2277. BELOW-MARKET LOANS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Unfunded Mandates: Undetermined Legal Authority: 26 USC 7805; 26 USC 7872(h) CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The proposed regulations relate to the Federal income tax consequences of certain below-market loans. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-209226-84 Drafting attorney: Shawn R. Tetelman (202) 622-3930 Reviewing attorney: David B. Silber (202) 622-3930 Treasury attorney: Michael Novey (202) 622-1339 CC:FI Agency Contact: Shawn R. Tetelman, General Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-3930 Email: shawn.r.tetelman@irscounsel. treas.gov RIN: 1545-BC78 _______________________________________________________________________ 2278. REGULATIONS GOVERNING THE PERFORMANCE OF ACTUARIAL SERVICES UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 29 USC 1241; 26 USC 7805 CFR Citation: 20 CFR 901 Legal Deadline: None Abstract: Regulations governing the performance of actuarial service under the Employee Retirement Income Security Act of 1974 (ERISA). The regulations will cover the qualifications [[Page 23039]] required for enrollment, continuing education requirements for enrolled actuaries, professional standards for the performance of actuarial services under ERISA, the grounds for disciplinary action against an enrolled actuary, and the procedures to be followed in taking disciplinary actions. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-159704-03 Drafting attorney: Michael J. Roach (202) 622-6090 CC:TEGE Agency Contact: Michael J. Roach, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6090 RIN: 1545-BC82 _______________________________________________________________________ 2279. DEFINITION OF LOSS FOR PURPOSES OF THE STRADDLE RULES Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 7805; 26 USC 1092 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulation will govern the definition of the term ``loss'' for purposes of sections 1092 and 263(g). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-159869-03 Drafting attorney: Mary Brewer (202) 622-3950 Reviewing attorney: Christina Morrison (202) 622-3950 Treasury attorneys: Michael Novey (202) 622-1339 CC:FI Agency Contact: Mary Brewer, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3950 RIN: 1545-BC83 _______________________________________________________________________ 2280. GUIDANCE REGARDING THE ACTIVE TRADE OR BUSINESS REQUIREMENT UNDER SECTION 355(B) Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The proposed rulemaking will provide guidance regarding the active trade or business requirement under section 355(b). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-123365-03 Drafting attorney: Russell P. Subin (202) 622-7790 Reviewing attorney: Stephen P. Fattman (202) 622-7700 Treasury attorney: Marc Countryman (202) 622-9858 CC: COR Agency Contact: Russell P. Subin, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7790 RIN: 1545-BC94 _______________________________________________________________________ 2281. ACCUMULATED ADJUSTMENT ACCOUNT AND OTHER CORPORATE SEPARATIONS UNDER SECTION 355 Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These proposed regulations will amend the current regulations under section 1.1368-2 in order to address the proper treatment of an S corporation's accumulated adjustment account in a section 355 transaction not preceded by a section 368(a)(1)(D) reorganization. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-168722-03 Drafting attorney: Deane M. Burke (202) 622-3070 Reviewing attorney: James Quinn (202) 622-3070 CC:PSI Agency Contact: Deane M. Burke, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3070 RIN: 1545-BC98 _______________________________________________________________________ 2282. SUPPORT TEST IN THE CASE OF A CHILD OF DIVORCED PARENTS Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 26 USC 152; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These proposed regulations will update section 1.152-4. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-149856-03 Drafting attorney: Victoria J. Driscoll (202) 622-4920 Reviewing attorney: Stephen J. Toomey (202) 622-4920 Treasury attorney: Eric San Juan (202) 622-0224 [[Page 23040]] CC: ITA Agency Contact: Victoria J. Driscoll, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4920 Fax: 202 622-6853 RIN: 1545-BD01 _______________________________________________________________________ 2283. DEFINITION OF QUALIFIED FOREIGN CORPORATION Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805(a); 26 USC 1 CFR Citation: Not Yet Determined Legal Deadline: None Abstract: Notice 2003-79, section 5, published on December 15, 2003, states that the IRS intends to issue regulations, for years after 2003, that provide procedures for a foreign corporation to certify that it is a qualified foreign corporation for purposes of IRC section 1(h)(11)(C). (Temporary rules provided in Notice 2003-79 were subsequently extended by Notice 2004-71, published on November 8, 2004, and by Notice 2006-3, published January 17, 2006.) The regulations will also provide procedures for certifying that a security that is not a common or ordinary share is equity rather than debt; that a foreign company is entitled to benefits under a comprehensive income tax treaty where a security is not readily tradable on a recognized U.S. stock exchange; and that the foreign corporation is not a PFIC in the taxable year in which a dividend is paid, or in the preceding taxable year. The regulations are also expected to address the meaning of the requirement in the legislative history that to qualify under a treaty for purposes of 1(h)(11) ``substantially all of . . .[the foreign corporation's] income in the taxable year in which the dividend is paid'' must qualify for treaty benefits. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-107420-04 Drafting attorney: Ana C. Guzman (202) 622-3880 Reviewing attorney: Edward R. Barret (202) 622-3880 CC:INTL Agency Contact: Ana C. Guzman, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3880 Edward R. Barret, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3880 RIN: 1545-BD15 _______________________________________________________________________ 2284. REMIC INTEREST-ONLY REGULAR INTERESTS Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These rules relate to the proper timing of income or deduction attributable to an interest-only regular interest in a Real Estate Mortgage Investment Conduit (REMIC). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 08/25/04 69 FR 52212 NPRM 09/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-106679-04 Drafting attorney: Kathleen A. Sleeth (202) 622-3920 Reviewing attorney: Elizabeth A. Handler (202) 622-3157 Treasury attorney: Michael Novey (202) 622-1339 CC:FI Agency Contact: Kathleen A. Sleeth, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3920 Email: kathleen.a.sleeth@irscounsel. treas.gov RIN: 1545-BD18 _______________________________________________________________________ 2285. SECTION 42 QUALIFIED CONTRACT PROVISIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 42; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This proposed regulation under sections 42(h)(6)(F) and 42(h)(6)(K) will provide guidance for provisions relating to qualified contracts. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Undetermined Additional Information: REG-114084-04 Drafting attorney: Jack Malgeri (202) 622-3040 Reviewing attorney: Susan Reaman (202) 622-3040 Treasury reviewer: Sharon Kay (202) 622-0865 CC: PSI Agency Contact: Jack Malgeri, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3040 RIN: 1545-BD20 _______________________________________________________________________ 2286. PAYMENTS FOR WHICH NO RETURN OF INFORMATION IS REQUIRED UNDER SECTION 6041 Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 6041; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This proposed regulation will remove section 1.6041-3(g) of the Income Tax Regulations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No [[Page 23041]] Small Entities Affected: No Government Levels Affected: None Additional Information: REG-147136-03 Drafting attorney: Timothy S. Sheppard (202) 622-4910 Reviewing attorney: James C. Gibbons (202) 622-7085 Treasury attorney: John Parcell (202) 622-2578 CC: PA: APJ Agency Contact: Timothy S. Sheppard, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-4910 RIN: 1545-BD21 _______________________________________________________________________ 2287. DEFINITION OF DISQUALIFIED PERSON Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These proposed regulations provide certain changes to the definition of a disqualified person under section 1.1031-1(k) of the income tax regulations to facilitate the ability of banks and bank affiliates to act as qualified intermediaries in section 1031 exchanges. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-160005-03 Drafting attorney: Brendan P. O'Hara (202) 622-4920 Reviewing attorney: Steven Toomey (202) 622-4920 CC: ITA Agency Contact: Brendan P. O'Hara, Attorney Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4920 RIN: 1545-BD28 _______________________________________________________________________ 2288. TRANSFERS OF RESTRICTED STOCK Priority: Substantive, Nonsignificant Legal Authority: 26 USC 83; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The proposed regulations address the application of section 83 to the transfer of substantially nonvested stock to a related person. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-127147-04 Drafting attorney: Stephen B. Tackney (202) 622-6030 Treasury attorney: Dan Hogans (202) 622-1332 CC: TEGE Agency Contact: Stephen B. Tackney, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 4030, Washington, DC 20224 Phone: 202 622-6030 Fax: 202 622-7865 Email: stephen.b.tackney@irscounsel. treas.gov Related RIN: Related to 1545-BD45 RIN: 1545-BD44 _______________________________________________________________________ 2289. CLASSIFICATION OF INDIAN TRIBAL CORPORATIONS Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 26 USC 7701; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulation will provide guidance regarding classification of Indian Tribal Corporations for Federal tax purposes. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Federalism: Undetermined Additional Information: REG-136069-04 Drafting attorney: Steven A. Schmoll (202) 622-3050 Reviewing attorney: Dianna K. Miosi (202) 622-3050 CC:PSI Agency Contact: Steven A. Schmoll, Attorney - Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-3050 Email: steven.a.schmoll@irscounsel. treas.gov RIN: 1545-BD61 _______________________________________________________________________ 2290. DECLARATORY JUDGMENT--GIFT TAX VALUE Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 26 USC 7477; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Proposed regulations relating to the redetermination of value of certain gifts in a declaratory judgment action. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Undetermined Federalism: Undetermined Additional Information: REG-143716-04 Drafting attorney: William L. Blodgett (202) 622-3090 Reviewing attorney: George L. Masnik (202) 622-3090 Treasury attorney: Catherine Hughes (202) 622-9407 CC: PSI Agency Contact: William L. Blodgett, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3090 RIN: 1545-BD67 [[Page 23042]] _______________________________________________________________________ 2291. REGULATIONS UNDER SECTION 706 REGARDING DETERMINATION OF DISTRIBUTIVE SHARES WHEN A PARTNER'S INTEREST CHANGES Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 26 USC 706; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will provide rules regarding the determination of a partner's distributive share when the partner's interest changes. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-144689-04 Drafting attorney: Laura C. Fields (202) 622-3050 Reviewing attorney: Dianna K. Miosi (202) 622-3050 CC: PSI Agency Contact: Laura C. Fields, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3050 RIN: 1545-BD71 _______________________________________________________________________ 2292. SHAREHOLDER'S BASIS IN STOCK OF AN S CORPORATION Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 26 USC 7805; 26 USC 1367 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will provide rules relating to the determination of a shareholder's basis in stock of an S corporation. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/12/07 72 FR 18417 NPRM Comment Period End 07/11/07 Final Action 12/00/07 Regulatory Flexibility Analysis Required: Undetermined Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-144859-04 Drafting attorney: Stacy L. Short (202) 622-3070 Reviewing attorney: Christine Ellison (202) 622-3070 Treasury attorney: William Bowers (202) 622-5721 CC:PSI Agency Contact: Stacy L. Short, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3070 RIN: 1545-BD72 _______________________________________________________________________ 2293. GUIDANCE UNDER SECTION 707(C) REGARDING GUARANTEED PAYMENTS Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 26 USC 707; 26 USC 7805 CFR Citation: Not Yet Determined Legal Deadline: None Abstract: This regulation will modify the regulations under section 707(c) to address certain situations involving guaranteed payments to partners. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-144694-04 Drafting attorney: Jason T. Smyczek (202) 622-3050 Reviewing attorney: David R. Haglund (202) 622-3050 Treasury attorney: William Bowers (202) 622-5721 CC: PSI Agency Contact: Jason T. Smyczek, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3050 RIN: 1545-BD74 _______________________________________________________________________ 2294. UPDATE AND REVISION OF TREASURY REGULATION SECTIONS 1.381(C)(4) AND (5)-1 Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 26 USC 381(c)(4); 26 USC 381(c)(5); 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The proposed amendments will focus on how to determine the principal accounting method; how taxpayers will procedurally change their accounting methods when they're not permitted to use or prefer not to use the principal accounting method; how taxpayers will reflect the difference in computing taxable income when they change their accounting methods; reconciling Treasury Regulation section 1.381(c)(4) language, terms, and conditions with Treasury Regulation section 1.381(c)(5); and reordering, simplifying, and indexing Treasury Regulation sections 1.381 (c)(4) and (5). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-151884-03 and REG-151887-03 Drafting attorney: Cheryl L. Oseekey (202) 622-4970 Reviewing attorney: Roy A. Hirschhorn (202) 622-4970 Treasury attorney: Sharon Kay (202) 622-0865 CC: ITA Agency Contact: Cheryl L. Oseekey, General Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4970 RIN: 1545-BD81 [[Page 23043]] _______________________________________________________________________ 2295. AMENDMENTS TO 26 CFR SECTION 1.263(A)-5 REGARDING TREATMENT OF CAPITALIZED COSTS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Unfunded Mandates: Undetermined Legal Authority: 26 USC 263(a); 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The IRS and Treasury Department intend to propose regulations to address the treatment of amounts that facilitate certain tax-free and taxable transactions and other restructurings and that are required to be capitalized under section 263(a) and section 1.263(a)-5. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-143640-04 Drafting attorney: Angella L. Warren (202) 622-4950 Reviewing attorney: Glenn Bogdonoff (202) 622-4950 Treasury attorneys: Sharon Kay (202) 622-0865 CC: ITA Agency Contact: Angella L. Warren, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4950 RIN: 1545-BD82 _______________________________________________________________________ 2296. GUIDANCE REGARDING SELECTED ISSUES UNDER SECTION 336(E) Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Unfunded Mandates: Undetermined Legal Authority: 26 USC 336; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The proposed regulations will address the circumstances in which a corporation that owns stock in another corporation, meeting the requirements of section 1504(a)(2), and sells, exchange, or distributes such an interest may elect to treat the transaction as a disposition of the assets of such other corporation. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-143544-04 Drafting attorney: Mark Weiss (202) 622-7790 Reviewing attorney: Ken Cohen (202) 622-7790 CC: COR Agency Contact: Mark J. Weiss, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7790 RIN: 1545-BD84 _______________________________________________________________________ 2297. DEFINITION OF THE ``DUE DATE'' FOR PURPOSES OF CALCULATING OVERPAYMENT INTEREST UNDER SECTION 301.6611(H) Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 26 USC 6611; 26 USC 7805 CFR Citation: 26 CFR 301 Legal Deadline: None Abstract: These regulations will amend 26 CFR section 301.6611-1(h) to clarify the allowance for overpayment interest in cases in which an overpayment is credited against an underpayment. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-148576-04 Drafting attorney: Timothy S. Sheppard (202) 622-4910 Reviewing attorney: Pamela W. Fuller (202) 622-4910 CC: PA: APJ Agency Contact: Timothy S. Sheppard, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-4910 RIN: 1545-BD86 _______________________________________________________________________ 2298. REDUCTION OF FUEL EXCISE TAX EVASION Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Unfunded Mandates: Undetermined Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 48 Legal Deadline: None Abstract: Changes to tax on aviation grade kerosene and other excise taxes related to taxable fuels. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 10/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: Undetermined Federalism: Undetermined Additional Information: REG-153838-04 Drafting attorney: Deborah J. Karet (202) 622-3130 Reviewing attorneys: Frank K. Boland (202) 622-3130 and Curt G. Wilson (202) 622-3000 Treasury attorney: John Parcell (202) 622-2578 CC: PSI Agency Contact: Deborah J. Karet, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3130 Email: deborah.j.karet@irscounsel. treas.gov RIN: 1545-BE03 _______________________________________________________________________ 2299. INTRA-GROUP GROSS RECEIPTS UNDER SECTION 41 Priority: Substantive, Nonsignificant Legal Authority: 26 USC 41; 26 USC 7805 [[Page 23044]] CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The proposed regulations will address the treatment of intra- group transactions in the determination of a controlled group's gross receipts for purposes of the section 41 research credit. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Undetermined Additional Information: REG-159420-04 Drafting attorney: Jaime C. Park (202) 622-3120 Reviewing attorney: Brenda M. Stewart (202) 622-3120 Treasury attorney: Sharon Kay (202) 622-0865 CC: PSI Agency Contact: Jaime C. Park, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Ave NW, Washington, DC 20024 Phone: 202 622-3120 Email: jaime.c.park@irscounsel. treas.gov RIN: 1545-BE14 _______________________________________________________________________ 2300. FARMER AND FISHERMAN INCOME AVERAGING UNDER THE AMERICAN JOBS CREATION ACT OF 2004 (AJCA) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 1301; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The project will amend the farm income averaging regulations under section 1.1301-1 to include the concept of fishing business. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-161695-04 Drafting attorney: Amy J. Pfalzgraf (202) 622-4960 Treasury attorney: John Parcell (202) 622-2578 CC: ITA Agency Contact: Amy J. Pfalzgraf, Senior Counsel, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4960 Email: amy.f.pfalzgraf@irscounsel. treas.gov Related RIN: Related to 1545-BE39 RIN: 1545-BE23 _______________________________________________________________________ 2301. TRACTORS, TRAILERS, TRUCKS, AND TIRES Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 48 Legal Deadline: None Abstract: This project will provide guidance on trucks, tractors, trailers, and tires in light of legislative changes and litigation. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 10/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: Undetermined Federalism: Undetermined Additional Information: REG-103380-05 Drafting attorney: Celia A. Gabrysh (202) 622-3130 Reviewing attorneys: Barbara B. Franklin (202) 622-3130 and Curt G. Wilson (202) 622-3000 Treasury attorney: John Parcell (202) 622-2578 CC: PSI Agency Contact: Celia A. Gabrysh, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3130 RIN: 1545-BE31 _______________________________________________________________________ 2302. RELEASE OF LIEN OR DISCHARGE OF PROPERTY Priority: Info./Admin./Other Legal Authority: 26 USC 6325; 26 USC 6503; 26 USC 7426; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Proposed regulations that reflect the enactment of sections 6325(b)(4), 7426(a)(4) and (b)(5), and 6503(f)(2) of the IRS Restructuring and Reform Act of 1998, giving third-party owners of property administrative and judicial remedies to discharge tax liens from their property. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/11/07 72 FR 1301 NPRM Comment Period End 04/11/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-159444-04 Drafting attorney: Debra A. Kohn (202) 622-3620 Reviewing attorney: Lawrence Schattner (202) 622-3620 Treasury attorney: Michael Desmond (202) 622-1981 CC: PA: CBS Agency Contact: Debra A. Kohn, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7985 Email: debra.akohn@irscounsel. treas.gov RIN: 1545-BE35 _______________________________________________________________________ 2303. RESEARCH EXPENDITURES RESULTING IN INVENTORY PROPERTY Priority: Substantive, Nonsignificant Legal Authority: 26 USC 174; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulations will address the treatment, under section 174, of amounts paid or incurred for the direct labor and materials used to construct property to be sold to third parties. [[Page 23045]] Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Undetermined Additional Information: REG-124148-05 Drafting attorney: Jaime C. Park (202) 622-3120 Reviewing attorney: Brenda M. Stewart (202) 622-3120 Treasury attorney: Sharon Kay (202) 622-0865 CC: PSI Agency Contact: Jaime C. Park, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Ave NW, Washington, DC 20024 Phone: 202 622-3120 Email: jaime.c.park@irscounsel. treas.gov RIN: 1545-BE64 _______________________________________________________________________ 2304. SECTION 401(A)(4) GUIDANCE Priority: Substantive, Nonsignificant Legal Authority: 26 USC 401; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Provide additional guidance on satisfying the section 401(a)(4) nondiscrimination requirement with respect to benefits or contributions. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-127586-05 Drafting attorney: Christopher A. Crouch (202) 622-6090 Reviewing attorney: Linda S. Marshall (202) 622-6090 Treasury attorney: Harlan Weller (202) 622-1001 CC: TEGE Agency Contact: Christopher A. Crouch, Attorney Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6090 Fax: 202 927-1851 Email: christopher.a.crouch@irscounsel. treas.gov RIN: 1545-BE69 _______________________________________________________________________ 2305. INFORMATION REPORTING ON REAL ESTATE TRANSACTIONS Priority: Info./Admin./Other Legal Authority: 26 USC 6011; 26 USC 6045; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation amends 26 CFR section 1.6045-4 of the Income Tax Regulations by providing that a sale or exchange of an interest in timber for an outright or a lump sum amount is subject to information reporting under 26 U.S.C. section 6045(e). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-155669-04 Drafting attorney: Julie Hanlon-Bolton (202) 622-7028 Reviewing attorney: James C. Gibbons (202) 622-4910 CC: PA: APJ Agency Contact: Julie Hanlon-Bolton, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Ave, NW, Washington, DC 20224 Phone: 202 622-7028 Email: julie.hanlon-bolton@irscounsel. treas.gov RIN: 1545-BE73 _______________________________________________________________________ 2306. START-UP AND ORGANIZATIONAL EXPENDITURES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 195; 26 USC 248; 26 USC 709; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The proposed regulations implement the changes to sections 195, 248, and 709 of the Internal Revenue Code, made by section 902 of the American Jobs Creation Act of 2004 (Pub. L. No. 108-357). Under the Act, a corporate taxpayer may elect to deduct up to $5000 of start-up expenditures and $5000 of organizational expenditures in the taxable year in which the trade or business begins. The remainder of the start- up or organizational expenditures are allowed as deductions ratably over the 180-month period beginning with the month the corporation begins business. Similar rules are provided for organizational and syndication fees for partnerships. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-164965-04 Drafting attorney: Grace K. Matuszeski (202) 622-7900 Treasury attorney: Sharon Kay (202) 622-0865 CC: ITA Agency Contact: Grace Matuszeski, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7900 RIN: 1545-BE77 _______________________________________________________________________ 2307. ABANDONMENT OF STOCK AND OTHER SECURITIES Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Unfunded Mandates: Undetermined Legal Authority: 26 USC 165(g); 26 USC 166; 26 USC 7805; 26 USC 332 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Guidance is needed regarding the Federal income tax consequences of the surrender of stock, securities, or debt for no consideration where the surrender is not a gift or contribution. Since these interpretive regulations will clarify current law, a cost/benefit analysis is not necessary. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 [[Page 23046]] Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-101001-05 Drafting attorney: Sean M. Dwyer (202) 622-5020 Reviewing attorney: Andrew M. Irving (202) 622-5020 CC: ITA Agency Contact: Sean M. Dwyer, General Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-5020 RIN: 1545-BE80 _______________________________________________________________________ 2308. TARGETED POPULATIONS UNDER SECTION 45D(E)(2) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 450; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulation provides guidance under section 45D regarding how an entity meets the requirements to be a qualified active low- income community business for purposes of the new markets tax credit when its activities involve targeted populations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Undetermined Additional Information: REG-142339-05 Drafting attorney: Lauren R. Taylor (202) 622-3040 Reviewing attorney: Susan Reaman (202) 622-3040 Treasury attorney: Sharon Kay (202) 622-0865 CC: PSI Agency Contact: Lauren R. Taylor, General Attorney (Tax), Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 5111, Washington, DC 20224 Phone: 202 622-3040 Fax: 202 622-4753 Email: lauren.r.taylor@irscounsel. treas.gov RIN: 1545-BE89 _______________________________________________________________________ 2309. S CORPORATION GUIDANCE UNDER AMERICAN JOBS CREATION ACT OF 2004 Priority: Substantive, Nonsignificant Legal Authority: 26 USC 1361; 26 USC 1362; 26 USC 1366; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation revises S corporation regulations under section 1361 and other affected code sections to reflect provisions of (AJCA) ``American Jobs Creation Act of 2004'' & (GOZA) Gulf Opportunity Zone Act, including family shareholder rules under Act section 231; also updates or replaces obsolete references in regulations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-143326-05 Drafting attorney: Bradford R. Poston (202) 622-3060 Reviewing attorney: John T. Hines (202) 622-3060 CC: PSI Agency Contact: Bradford R. Poston, Senior Counsel, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 5015, Washington, DC 20224 Phone: 202 622-3060 Fax: 202 622-3484 Email: bradford.r.poston@irscounsel. treas.gov RIN: 1545-BE95 _______________________________________________________________________ 2310. CAPITAL COSTS INCURRED TO COMPLY WITH EPA SULFUR REGULATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation provides guidance under section 179B of the Internal Revenue Code relating to EPA sulfur. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-143453-05 Drafting attorney: Douglas Kim (202) 622-3110 Reviewing attorney: Kathleen Reed (202) 622-3110 Treasury attorney: John Parcell (202) 622-2578 CC: PSI Agency Contact: Douglas Kim, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3110 Related RIN: Related to 1545-BE97 RIN: 1545-BE96 _______________________________________________________________________ 2311. DISALLOWANCE OF PARTNERSHIP LOSS TRANSFERS AND BASIS REDUCTION IN STOCK OF A CORPORATE PARTNER Priority: Substantive, Nonsignificant Legal Authority: 26 USC 704; 26 USC 734; 26 USC 743; 26 USC 755; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These proposed regulations intend to provide guidance under sections 704, 734, 743, and 755 as amended by the American Jobs Creation Act of 2004 regarding the disallowance of certain partnership loss transfers, and no reduction of basis in stock held by a partnership in a corporate partner. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: Undetermined [[Page 23047]] Federalism: Undetermined Additional Information: REG-144468-05 Drafting attorneys: Barbara J. Campbell and Sean I. Kahng (202) 622- 3050 CC:PSI Agency Contact: Sean I. Kahng, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3050 Barbara Campbell, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3050 RIN: 1545-BE98 _______________________________________________________________________ 2312. SECTION 704(C) AND 737 REGULATIONS UPDATE Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 704; 26 USC 737 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This proposed rule will modify regulations under sections 704 and 737 consistent with Notice 2005-15. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Undetermined Additional Information: REG-143397-05 Drafting attorney: Laura C. Fields (202) 622-3050 Reviewing attorney: Beverly Katz (202) 622-3050 Treasury attorney: William Bowers (202) 622-5721 CC: PSI Agency Contact: Laura C. Fields, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3050 Heather L. Faught, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3060 RIN: 1545-BE99 _______________________________________________________________________ 2313. CAFETERIA PLANS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 125; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Proposed regulations on cafeteria plans (employee welfare benefit plans allowing employees to choose between taxable benefits and nontaxable benefits (e.g., employer-provided accident and health plans, group term life insurance or dependent care assistance programs). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-142695-05 Drafting attorney: Elizabeth A. Purcell (202) 622-6080 Reviewing attorney: Harry Beker (202) 622-6080 Treasury attorney: Kevin Knopf (202) 622-2329 CC: TEGE Agency Contact: Elizabeth A. Purcell, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6080 Related RIN: Related to 1545-BF01 RIN: 1545-BF00 _______________________________________________________________________ 2314. ELECTION TO EXPENSE CERTAIN REFINERIES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 179C CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Provide guidance under section 179C of the Internal Revenue Code. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/00/07 Regulatory Flexibility Analysis Required: Undetermined Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-146895-05 Drafting attorney: Ruba Nasrallah (202) 622-3110 Reviewing attorney: Kathleen Reed (202) 622-3110 Treasury attorney: John Parcell (202) 622-2578 CC: PSI Agency Contact: Ruba Nasrallah, General Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-3110 Related RIN: Related to 1545-BF06 RIN: 1545-BF05 _______________________________________________________________________ 2315. CREDIT CARD CLAIMS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 6416 CFR Citation: 26 CFR 48 Legal Deadline: None Abstract: Refunds of excise taxes on exempt sales of fuel by credit card. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Undetermined Additional Information: REG-147282-05 Drafting attorney: Taylor Cortright (202) 622-3130 Reviewing attorneys: Frank Boland (202) 622-3130 and Curt Wilson (202) 622-3000 Treasury attorney: John Parcell (202) 622-2578 CC: PSI Agency Contact: Taylor Cortright, Attorney, Department of the Treasury, Internal Revenue Service, 1111 [[Page 23048]] Constitution Avenue NW, Room 5314, Washington, DC 20224 Phone: 202 622-7055 RIN: 1545-BF07 _______________________________________________________________________ 2316. NUCLEAR DECOMMISSIONING COST Priority: Substantive, Nonsignificant Legal Authority: Not Yet Determined CFR Citation: Not Yet Determined Legal Deadline: None Abstract: Proposed regulations under the Energy Tax Incentives Act of 2005 concerning nuclear decommissioning costs. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-147290-05 Drafting attorney: Bernard P. Harvey (202) 622-3110 Reviewing attorney: Peter C. Friedman (202) 622-3110 Treasury attorney: John Parcell (202) 622-2578 CC: PSI Agency Contact: Bernard P. Harvey III, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3110 Related RIN: Related to 1545-BF09 RIN: 1545-BF08 _______________________________________________________________________ 2317. CLEAN RENEWABLE ENERGY BONDS Priority: Substantive, Nonsignificant Legal Authority: PL 109-58 sec 1303(d); 26 USC 54 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Section 54 of the Code allows certain specified entities to issue Clean Renewable Energy Bonds. Taxpayers who purchase these bonds are entitled to a credit against income tax in lieu of receiving interest payments from the Clean Renewable Energy Bond issuers. These regulations explain the requirements for issuing the bonds and for claiming the tax credit. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: Local, State, Tribal Additional Information: REG-148071-05 Drafting attorney: Aviva M. Roth (202) 622-3980 Reviewing attorney: Timothy L. Jones (202) 622-1380 Treasury attorney: John Cross (202) 622-1322 CC: TEGE Agency Contact: Aviva M. Roth, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 4013, Washington, DC 20224 Phone: 202 622-3980 Email: aviva.m.roth@irscounsel. treas.gov Related RIN: Related to 1545-BF12 RIN: 1545-BF11 _______________________________________________________________________ 2318. FEDERAL INCOME TAX CONSEQUENCES OF TRANSFERS BETWEEN AN INDIVIDUAL DEBTOR AND THE BANKRUPTCY ESTATE IN CASES UNDER CHAPTERS 7 AND 11 OF TITLE 11 OF THE UNITED STATES CODE Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The proposed notice of proposed rulemaking designates as non- taxable certain asset transfers between individual debtors and their bankruptcy estates that occur at the commencement of the bankruptcy case, after commencement and before termination of the bankruptcy estate, and upon the termination of the estate. The regulations provide specific rules governing the succession of tax attributes by the estate and the debtor in connection with these non-taxable transfers. The regulations also define the section 1398 phrase ``termination of the estate.'' Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-116372-03 Drafting attorney: Laurence K. Williams (202) 622-3600 Reviewing attorney: Pamela W. Fuller (202) 622-3600 Treasury attorney: Anita Soucy (202) 622-1766 CC: PA: CBS Agency Contact: Laurence K. Williams, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3600 RIN: 1545-BF13 _______________________________________________________________________ 2319. ALCOHOL FUEL AND BIODIESEL Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 6426; 26 USC 6427(e); 26 USC 40 A; 26 USC 40; 26 USC 34; 26 USC 7805 CFR Citation: 48 CFR 6425; 48 CFR 6427 Legal Deadline: None Abstract: Sections 40A, 6426, and 6427(e) were added to the Internal Revenue Code (Code) by the American Jobs Creation Act of 2004 (Pub. L. 108-357)(ACT). The Act also amended section 40 of the Code. These Code provisions relate to credits for alcohol and biodiesel used as a fuel and credits and payments for alcohol fuel and biodiesel mixtures. The regulations will provide guidance on these Code sections. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-155087-05 Drafting attorney: Susan Athy (202) 622-3130 [[Page 23049]] Reviewing attorney: Frank Boland (202) 622-3130 and Curt Wilson (202) 622-3000 Treasury attorney: John Parcell (202) 622-2578 CC: PSI Agency Contact: Susan Athy, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3130 RIN: 1545-BF17 _______________________________________________________________________ 2320. CREDIT FOR PRODUCTION FROM ADVANCED NUCLEAR POWER FACILITIES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 45J CFR Citation: Not Yet Determined Legal Deadline: None Abstract: Regulations will provide guidance for implementation of new section 45J; in particular, regulations will provide a certification process for approval and allocation of the National Megawatt Limitation. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Undetermined Additional Information: REG-157616-05 Drafting attorney: Patrick S. Kirwan (202) 622-3110 Reviewing attorney: Peter Friedman (202) 622-3110 Treasury attorney: John Parcell (202) 622-2578 CC:PSI Agency Contact: Patrick S. Kirwan, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3110 Email: patrick.s.kirwan@irscounsel. treas.gov Related RIN: Related to 1545-BF20 RIN: 1545-BF19 _______________________________________________________________________ 2321. TAXPAYER ASSISTANCE ORDERS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7811 (a); 26 USC 7805 CFR Citation: 42 CFR 301 Legal Deadline: None Abstract: Proposed amendments to Treasury Regulation section 301.7811-1 to ensure that the regulation reflects amendments to section 7811 of the Internal Revenue Code. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-152166-05 Drafting attorney: Robin M. Tuczak (202) 622-3529 Reviewing attorney: Judith M. Wall (202) 622-8131 Treasury attorney: Anita Soucy (202) 622-1766 CC: NTA Agency Contact: Robin Tuczak, Technical Advisor to the Special Counsel, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3529 Email: robin.m.tuczak@irscounsel. treas.gov RIN: 1545-BF33 _______________________________________________________________________ 2322. ENTERTAINMENT EXPENSE DISALLOWANCE Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Regulations implementing the JOBS Act 2004 amendments to section 274(e)(2) and (e)(9), regarding limitations on deductions for expenses for entertainment of specified individuals. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-147171-05 Drafting attorney: Michael A. Nixon (202) 622-4930 Reviewing attorney: George Baker (202) 622-4930 Treasury attorney: Eric San Juan (202) 622-0224 CC: ITA Agency Contact: Michael A. Nixon, General Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4930 RIN: 1545-BF34 _______________________________________________________________________ 2323. FAILURE TO MAINTAIN LIST OF ADVISEES WITH RESPECT TO REPORTABLE TRANSACTIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 301.6708-1 Legal Deadline: None Abstract: Proposed regulation regarding the penalty imposed under section 6708 for a person required to maintain a list under section 6112 who fails to make the list available upon the request of the Secretary. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-160873-04 Drafting attorney: Lawrence E. Mack (202) 622-4940 Reviewing attorney: Nancy M. Galib (202) 622-8523 CC: PA: APJ Agency Contact: Lawrence E. Mack, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW., Washington, DC 20224 Phone: 202 622-4940 Email: lawrence.e.mack@irscounsel. treas.gov RIN: 1545-BF39 [[Page 23050]] _______________________________________________________________________ 2324. ACCURACY-RELATED PENALTIES Priority: Substantive, Nonsignificant Legal Authority: USC 6662A; USC 6662; USC 6664; 26 USC 7805 CFR Citation: 26 CFR 1.6662A; 26 CFR 1.6662; 26 CFR 1.6664 Legal Deadline: None Abstract: Proposed regulations regarding the new provisions and amendments made to code sections 6662, 6662A, and 6664 by the American Jobs Creation Act of 2004 and the Gulf Opportunity Zone Act of 2005. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-160870-04 Drafting attorney: Laura R. Urich (202) 622-4940 Reviewing attorney: Ashton P. Trice (202) 622-4940 Treasury attorney: Mike Desmond (202) 622-1981 CC: PA: APJ Agency Contact: Laura Rebecca Urich, Attorney Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4940 Fax: 202 622-1585 Email: laura.r.urich@irscounsel. treas.gov RIN: 1545-BF40 _______________________________________________________________________ 2325. TAXATION OF FRINGE BENEFITS AND EXCLUSIONS FROM GROSS INCOME OF CERTAIN FRINGE BENEFITS Priority: Routine and Frequent Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1.61-21-(k)(6)(B) Legal Deadline: None Abstract: This proposed regulation contains proposed amendments to the fringe benefit regulations. Income Tax Regulation section 1.61- 21(k)(6)(B) is amended by removing a reference to section 414(q)(1)(C) of the Internal Revenue Code (Code) that no longer exists and replacing it with a reference to regulation section 1.61-21(f)(5)(i). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-162699-05 Drafting Paralegal: Eboni P. Stokes (202) 622-4783 Reviewing Branch Chief: Lynne A. Camillo (202) 622-6040 CC: TEGE Agency Contact: Eboni Patrice Stokes, Paralegal Specialist, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4783 Email: eboni.p.stokes@irscounsel. treas.gov RIN: 1545-BF42 _______________________________________________________________________ 2326. LIMITATION ON IMPORTATION OF BUILT-IN LOSSES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1.362-1 Legal Deadline: None Abstract: These proposed regulations will provide guidance in adjusting basis to avoid the importation of built-in losses. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-161948-05 Drafting attorney: Joanne M. Fay (202) 622-8877 Reviewing attorney: Filiz A. Serbes (202) 622-3703 CC: COR Agency Contact: Joanne M. Fay, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-8877 Email: joanne.m.fay@irscounsel. treas.gov RIN: 1545-BF43 _______________________________________________________________________ 2327. FURTHER GUIDANCE REGARDING APPLICATION OF SECTION 409A Priority: Substantive, Nonsignificant Legal Authority: 26 USC 409A CFR Citation: Not Yet Determined Legal Deadline: None Abstract: Regulations regarding the measurement of income inclusion and calculation of applicable taxes under section 409A of the Internal Revenue Code. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: Undetermined Additional Information: REG-148326-05 Drafting attorney: Stephen B. Tackney (202) 622-6030 Treasury attorney: Dan Hogan (202) 622-1332 CC: TEGE Agency Contact: Stephen B. Tackney, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 4030, Washington, DC 20224 Phone: 202 622-6030 Fax: 202 622-7865 Email: stephen.b.tackney@irscounsel. treas.gov RIN: 1545-BF50 _______________________________________________________________________ 2328. REQUIREMENTS FOR REORGANIZATIONS QUALIFYING UNDER SECTION 368(A)(1)(E) OR (F) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation is intended to provide guidance regarding the requirements of a reorganization under section 368(a)(1)(F), the tax consequences of such a reorganization, and give examples of transactions so qualifying. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No [[Page 23051]] Small Entities Affected: No Government Levels Affected: None Additional Information: REG-148532-05 Drafting attorney: Douglas C. Bates (202) 622-7550 Reviewing attorney: Debra L. Carlisle (202) 622-7550 CC: COR Agency Contact: Douglas C. Bates, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7550 Fax: 202 622-4111 Email: douglas.c.bates@irscounsel. treas.gov Related RIN: Split from 1545-BD31 RIN: 1545-BF51 _______________________________________________________________________ 2329. 475 HELD FOR INVESTMENT Priority: Substantive, Nonsignificant Legal Authority: 26 USC 475(b) CFR Citation: 26 CFR Part 1 Legal Deadline: None Abstract: Publication of notice of proposed rule-making relating to whether a security is held for investment and excluded from the application of section 475(a) of the Internal Revenue Code. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-253307-96 Drafting attorney: Lauren J. Medovoy (202) 622-3920 Reviewing attorney: Elizabeth Handler (202) 622-3920 Treasury attorney: Michael Novey (202) 622-1339 CC: FI Agency Contact: Lauren J. Medovoy, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3920 Fax: 202 622-7970 Email: lauren.j.medovoy@irscounsel. treas.gov RIN: 1545-BF53 _______________________________________________________________________ 2330. CHANGE TO OFFICE TO WHICH NOTICES OF NONJUDICIAL SALE AND REQUESTS FOR RETURN OF WRONGFULLY LEVIED PROPERTY MUST BE SENT Priority: Substantive, Nonsignificant Legal Authority: 26 USC 6343; 26 USC 7425 CFR Citation: 26 CFR 301.6343-2; 26 CFR 301.7425-3 Legal Deadline: None Abstract: These proposed amendments to the regulations provide guidance relating to the giving of notice of nonjudicial sales under section 7425(b) of the Internal Revenue Code and requests for return of wrongfully levied property under section 6343(b) of the Internal Revenue Code. In order to account for the IRS's current organizational structure and to allow for future reorganizations of the IRS, the proposed regulations remove certain specific titles. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-148951-05 Drafting attorney: Robin M. Ferguson (202) 622-3610 Reviewing attorney: Mitch Hyman (202) 622-3610 Treasury attorney: Anita Soucy (202) 622-1766 CC: PA: CBS Agency Contact: Robin M. Ferguson, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3610 Fax: 202 622-7561 Email: robin.m.ferguson@irscounsel. treas.gov RIN: 1545-BF54 _______________________________________________________________________ 2331. SECTION 6707 AND THE FAILURE TO FURNISH INFORMATION REGARDING REPORTABLE TRANSACTIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 301.6707-1; 26 CFR 1.6091-1 Legal Deadline: None Abstract: Proposed regulations regarding the imposition of penalities under section 6707 of the Internal Revenue Code on material advisors who fail to file a return under section 6111(a) or file false or incomplete information with respect to a reportable transaction. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-160872-04 Drafting attorney: Matthew S. Cooper (202) 622-4940 Reviewing attorney: Ashton Trice (202) 622-4940 CC: PA: APJ Agency Contact: Matthew S. Cooper, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 5135, Washington, DC 20224 Phone: 202 622-4940 Fax: 202 622-1585 Email: matthew.s.cooper@irscounsel. treas.gov RIN: 1545-BF59 _______________________________________________________________________ 2332. SECTION 6707A AND THE FAILURE TO INCLUDE ON ANY RETURN OR STATEMENT ANY INFORMATION REQUIRED TO BE DISCLOSED UNDER SECTION 6011 WITH RESPECT TO A REPORTABLE TRANSACTION Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 301.6707A-1 Legal Deadline: None Abstract: Proposed regulations regarding the imposition of penalties under section 6707A of the Internal Revenue Code for the failure to include on any return or statement any [[Page 23052]] information required to be disclosed under section 6011 with respect to a reportable transaction. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-160868-04 Drafting attorney: Dillon J. Taylor (202) 622-4940 Reviewing attorney: Ashton Trice (202) 622-4940 CC: PA: APJ Agency Contact: Dillon Taylor, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 5127, Washington, DC 20224 Phone: 202 622-4940 Fax: 202 622-1585 Email: dillon.j.taylor@irscounsel. treas.gov Related RIN: Related to 1545-BF62 RIN: 1545-BF61 _______________________________________________________________________ 2333. ACTIVITIES CUSTOMARILY PERFORMED BY STATES AND LOCAL GOVERNMENTS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7871(e) CFR Citation: 26 CFR 1.7871(e) Legal Deadline: None Abstract: The advanced notice of proposed rulemaking provides that the Internal Revenue Service and the Department of Treasury expect to issue guidance providing that for purposes of tax exempt bonds issued by Indian tribal governments under sections 103(a) and 7871(a)(4) of the Internal Revenue Code. Plan activity will be considered an activity customarily performed by State and local governments with general taxing power within the meaning of section 7871(e) only if: (1) The activity is one conducted by a requisite number of State or local governments, (2) the activity has been conducted by States or local governments for a requisite period of time and (3) the activity is not a commercial or industrial activity. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 08/09/06 71 FR 45474 ANPRM Comment Period End 11/07/06 NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Tribal Additional Information: REG-118788-06 Drafting attorney: Aviva M. Roth (202) 622-3980 Reviewing attorney: Timothy L. Jones (202) 622-3701 Treasury attorney: John J. Cross III (202) 622-1322 CC: TEGE Agency Contact: Aviva M. Roth, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 4013, Washington, DC 20224 Phone: 202 622-3980 Email: aviva.m.roth@irscounsel. treas.gov RIN: 1545-BF63 _______________________________________________________________________ 2334. CLARIFICATION OF SECTION 6411 REGULATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 6411 CFR Citation: 26 CFR 1.6411-2 (Revision); 26 CFR 1.6411-3 (Revision) Legal Deadline: None Abstract: These proposed amendments to the regulations clarify that, after being computed under the terms of the section 1.6411-2 regulations, a tentative carryback allowance may be reduced under section 1.6411-3 by unassessed amounts. In order to account for the IRS' current organizational structure, the proposed regulations remove the title. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-118886-06 Drafting attorney: Cynthia A. McGreevy (202) 622-4910 Reviewing attorneys: Pamela Fuller (202) 622-3600 and Curtis Wilson (202) 622-7800 Treasury attorney: Michael Desmond (202) 622-1981 CC: PA: APJ Agency Contact: Cynthia A. McGreevy, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4910 Fax: 202 927-9248 Email: cynthia.a.mcgreevy@irscounsel. treas.gov RIN: 1545-BF65 _______________________________________________________________________ 2335. APPLYING SECTION 1(H) TO CAPITAL GAIN DIVIDENDS OF RICS AND REITS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The proposed regulations will contain rules determining the amounts that a RIC or REIT may designate for various purposes under section l(h) and 871(k)(2). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-119739-06 Drafting attorney: Sonja Kotlica (202) 622-6295 CC:FI Agency Contact: Sonja Kotlica, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6295 RIN: 1545-BF72 _______________________________________________________________________ 2336. MULTIPLE ANNUITY STARTING DATE LIMITATIONS ON BENEFITS UNDER QUALIFIED PLANS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805(e) CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The proposed regulation would provide guidance with respect [[Page 23053]] to determining the annual benefit under a defined benefit plan for the purpose of applying the limitations of section 415 in cases where there has been more than one annuity starting date. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Federal, Local, State, Tribal Federalism: This action may have federalism implications as defined in EO 13132. Additional Information: REG-122142-06 Drafting attorneys: Christopher A. Crouch (202) 622-6090 and Linda S. Marshall (202) 622-6090 Treasury attorney: Harlan Weller (202) 622-1001 CC: TEGE Agency Contact: Christopher A. Crouch, Attorney Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6090 Fax: 202 927-1851 Email: christopher.a.crouch@irscounsel. treas.gov RIN: 1545-BF74 _______________________________________________________________________ 2337. GUIDANCE ON DETERMINATION OF INTEREST EXPENSE ALLOCABLE IN A GLOBAL DEALING OPERATION Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 7805; 26 USC 0882; 26 USC 0861; 26 USC 0864 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will address guidance on determination of interest expense allocable in a global dealing operation; coordination of interest expense allocable to global dealing operation with interest allocation rules of section 861 and determination of interest deduction of foreign corporations under section 882. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-125604-06 Drafting attorney: Margaret K. Harris (202) 622-3870 Reviewing attorney: Paul S. Epstein (202) 622-3870 Treasury attorney: Jesse Eggert (202) 622-1540 CC: INTL Agency Contact: Margaret K. Harris, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3870 RIN: 1545-BF76 _______________________________________________________________________ 2338. U.S. SOURCE INCOME EFFECTIVELY CONNECTED WITH U.S. BUSINESS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 7805; 26 USC 0864 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation provides rules determining when income from stock or securities in the active conduct of a banking financing or similar business will be treated as effectively connected with a United States business. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: Undetermined Federalism: Undetermined Additional Information: REG-125594-06 Drafting attorney: Margaret K. Harris (202) 622-3870 Reviewing attorney: Paul S. Epstein (202) 622-3870 Reviewing attorney: Jesse Eggert (202) 622-1540 CC: INTL Agency Contact: Margaret K. Harris, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3870 RIN: 1545-BF77 _______________________________________________________________________ 2339. SOURCE OF INCOME; SOURCE OF GUARANTEE FEE INCOME Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 7805; 26 USC 0863 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation provides rules relating to the source of income from financial guarantee fees, letters of credit, and other interest equivalents with respect to similar financial instruments. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: Undetermined Federalism: Undetermined Additional Information: REG-125599-06 Drafting Attorney: Margaret K. Harris (202) 622-3870 Reviewing Attorney: Paul S. Epstein (202) 622-3870 CC:INTL Agency Contact: Margaret K. Harris, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3870 RIN: 1545-BF78 _______________________________________________________________________ 2340. GUIDANCE UNDER SECTION 67 REGARDING MISCELLANEOUS ITEMIZED DEDUCTIONS OF A TRUST OR ESTATE Priority: Substantive, Nonsignificant Legal Authority: 26 USC 67; 26 USC 7805 CFR Citation: Not Yet Determined Legal Deadline: None Abstract: The guidance will address the application of IRC section 67 to the [[Page 23054]] permissible itemized deductions of a trust or estate. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Small Entities Affected: Organizations Government Levels Affected: None Additional Information: REG-128224-06 Drafting attorney: Jennifer Keeney (202) 622-3060 Reviewing attorney: Bradford R. Poston (202) 622-3060 CC: PSI Agency Contact: Jennifer Keeney, General Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Room 5019, Washington, DC 20224 Phone: 202 622-3060 Fax: 202 622-3484 Email: jennifer.keeney@irscounsel. treas.gov RIN: 1545-BF80 _______________________________________________________________________ 2341. REGULATION TO DELETE THE TORT TYPE RIGHTS TEST FROM THE SECTION 104(A)(2) REGULATIONS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 1; 26 USC 7805 CFR Citation: 26 CFR 1.104-1(c) Legal Deadline: NPRM, Statutory, June 30, 2006. Abstract: These proposed regulations will amend section 1.104(c) of the Income Tax Regulations to reflect the amendments made to section 1.104(a)(2) by sections 1605(a) and (b) of the Small Business Job Protection Act of 1996. The regulations are also amended to delete the requirement that damages qualify for exclusion from gross income under 104(a)(2) of the Code only if the legal suit, action, or settlement agreement in which the damages are received is based upon tort or tort type rights. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-127270-06 Drafting attorney: Sheldon A. Iskow (202) 622-4920 Reviewing attorney: Michael J. Montemurro (202) 622-4920 CC: ITA Agency Contact: Sheldon A. Iskow, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4920 Fax: 202 622-6853 Email: sheldon.a.iskow@irscounsel. treas.gov RIN: 1545-BF81 _______________________________________________________________________ 2342. EXCLUSION OF INCOME FROM THE INTERNATIONAL OPERATION OF SHIPS OR AIRCRAFT Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 7805; 26 USC 883 CFR Citation: 26 CFR 1.883-0; 26 CFR 1.883-1; 26 CFR 1.883-2; 26 CFR 1.883-3; 26 CFR 1.883-4; 26 CFR 1.883-5; Legal Deadline: None Abstract: This regulation will address amendment to section 1.883-3 regulations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-138707-06 Drafting attorney: Patricia A. Bray (202) 622-3880 Reviewing attorney: Elizabeth U. Karzon (202) 622-3880 CC: INTL Agency Contact: Patricia A. Bray, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3880 RIN: 1545-BF90 _______________________________________________________________________ 2343. WITHHOLDING AND REPORTING OBLIGATIONS UNDER SECTION 1441 REGARDING TENDER OFFERS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1; 26 CFR 1441 Legal Deadline: None Abstract: The proposed regulations provide guidance for U.S. financial institutions to satisfy their withholding, reporting and deposit obligations under chapter 3 of the Code with respect to payments made to foreign account holders pursuant to a self-tender offer made by a publicly traded corporation. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-140206-06 Drafting attorney: Kathryn T. Holman (202) 622-3840 Reviewing attorney: Carl M. Cooper (202) 622-3840 Treasury attorney: David Sotos (202) 622-0851 CC: INTL Agency Contact: Kathryn T. Holman, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3840 RIN: 1545-BF93 _______________________________________________________________________ 2344. CIRCULAR 230--REVIEW OF SECTION 10.35 ET SEQ. Priority: Substantive, Nonsignificant Legal Authority: 31 USC 330; 5 USC 301; 5 USC 500; 5 USC 551 to 559 CFR Citation: 31 CFR 10.35; 31 CFR 10.36; 31 CFR 10.37; 31 CFR 10.38 Legal Deadline: None Abstract: Proposed regulations modifying the standards for covered opinions and other written advice. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 [[Page 23055]] Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-138367-06 Drafting attorney: Matthew S. Cooper (202) 622-4940 Reviewing attorney: Brinton Warren (202) 622-7800 Treasury attorney: Anita Soucy (202) 622-1766 CC: PA: APJ Agency Contact: Matthew S. Cooper, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 5135, Washington, DC 20224 Phone: 202 622-4940 Fax: 202 622-1585 Email: matthew.s.cooper@irscounsel. treas.gov RIN: 1545-BF96 _______________________________________________________________________ 2345. [bull] EXTENSIONS OF TIME TO FILE ENTITY CLASSIFICATION ELECTIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7701 CFR Citation: 26 CFR 301 Legal Deadline: None Abstract: These proposed regulations provide rules for entities seeking extensions of time to file entity classification elections. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-143705-06 Drafting attorney: Richard T. Probst (202) 622-3060 Reviewing attorney: Beverly Katz (202) 622-3060 Treasury attorney: John Parcell (202) 622-2578 CC: PSI Agency Contact: Richard T. Probst, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-3060 Fax: 202 622-3484 Email: richard.t.probst@irscounsel. treas.gov RIN: 1545-BG01 _______________________________________________________________________ 2346. [bull] BUILT-IN GAINS AND LOSSES UNDER SECTION 382(H) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: Not Yet Determined Legal Deadline: None Abstract: The IRS is issuing temporary regulations relating to the treament of prepaid income under the built-in gain provisions of section 382(h). The text of those regulations also serves as the text of the proposed regulations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-162992-03 Drafting attorney: Sean C. McKeever (202) 622-8167 Reviewing attorney: Mark S. Jennings (202) 622-7750 Treasury attorney: Marc Countryman (202) 622-9858 CC: COR Agency Contact: Sean C. McKeever, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Room 5421C, Washington, DC 20224 Phone: 202 622-8167 Fax: 202 622-7555 Email: sean.c.mckeever@irscounsel. treas.gov RIN: 1545-BG03 _______________________________________________________________________ 2347. [bull] REVISION TO REGULATIONS RELATING TO WITHHOLDING OF TAX ON CERTAIN U.S. SOURCE INCOME PAID TO FOREIGN PERSONS AND REVISION OF INFORMATION REPORTING REGULATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1441 Legal Deadline: None Abstract: The proposed regulations provide guidance regarding the documentation requirements under section 1441 and the treatment of certain obligations issued in bearer form. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: Yes Small Entities Affected: Organizations Government Levels Affected: None Additional Information: REG-144021-06 Drafting Attorney: Kathryn T. Holman (202) 622-3840 Reviewing Attorney: Carl M. Cooper (202) 622-3840 Treasury Attorney: David Sotos (202) 622-0851 CC:INTL Agency Contact: Kathryn T. Holman, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3840 RIN: 1545-BG04 _______________________________________________________________________ 2348. [bull] ELECTRONIC PAYMENT SYSTEM MAILBOX RULE Priority: Substantive, Nonsignificant Legal Authority: 26 USC 6302; 26 USC 6311 CFR Citation: 31 CFR 6302-1(h)(6); 31 CFR 6311-2(b) Legal Deadline: None Abstract: Proposed and temporary regulations extending the time by which a taxpayer may initiate an electronic tax payment and still have such payment be considered a timely payment. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-145147-05 Drafting attorney: Natasha M. Mulleneaux (202) 622-4604 Reviewing attorney: Charles A. Hall (202) 622-4940 [[Page 23056]] CC: PA: APJ Agency Contact: Natasha M. Mulleneaux, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Ave, NW, Washington, DC 20224 Phone: 202 622-4604 Fax: 703 605-1959 Email: natasha.m.mulleneaux@irscounsel. treas.gov RIN: 1545-BG05 _______________________________________________________________________ 2349. [bull] ALLOCATION OF COSTS UNDER THE SIMPLIFIED METHODS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1.263A-1; 26 CFR 1.263A-2; 26 CFR 1.263A-3 Legal Deadline: None Abstract: This project deals with the simplified options available to taxpayers for allocating additional section 263A costs. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 02/00/08 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-126770-06 Drafting attorney: W. Thomas McElroy (202) 622-4970 Reviewing attorney: John P. Moriarty (202) 622-4930 Treasury attorney: Sharon Kay (202) 622-0865 CC: ITA Agency Contact: Thomas McElroy Jr., General Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW., Washington, DC 20224 Phone: 202 622-4970 RIN: 1545-BG07 _______________________________________________________________________ 2350. [bull] INCOME OF FOREIGN GOVERNMENTS AND INTERNATIONAL ORGANIZATIONS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 7805; 26 USC 0892 CFR Citation: 26 CF 1 Legal Deadline: None Abstract: These regulations will provide rules regarding the taxation of income of foreign governments and international organizations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-148537-06 Drafting Attorney: David A. Juster (202) 622-3850 Reviewing Attorney: Richard L. Chewning (202) 622-3850 Treasury Attorney: Jesse Eggert (202) 622-1540 CC:INTL Agency Contact: David A. Juster, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3850 Related RIN: Related to 1545-AL93 RIN: 1545-BG08 _______________________________________________________________________ 2351. [bull] SECTION 1.367(A)-8 REVISIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1.367(a)-3T; 26 CFR 1.367(a)-8T Legal Deadline: None Abstract: This project is for regulations that revise Section 1.367(a)- 8. The regulations will provide rules describing how U.S. taxpayers enter into gain recognition agreements in connection with the transfer of stock or securities to foreign corporations. The regulations will also clarify the effect that certain transactions have on existing gain recognition agreements. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 02/05/07 72 FR 5228 NPRM Comment Period End 05/07/07 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-147144-06 Drafting Attorney: Daniel M. McCall (202) 622-3860 CC:INTL Agency Contact: Daniel M. McCall, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3860 RIN: 1545-BG09 _______________________________________________________________________ 2352. [bull] INFORMATION RETURNS REQUIRED WITH RESPECT TO CERTAIN FOREIGN CORPORATIONS AND OTHER CONFORMING CHANGES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 6038 Legal Deadline: None Abstract: The regulations provide updated guidance with respect to the information required to be furnished about certain related party transactions under section 6038. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-148381-06 Drafting Attorney: Kate Y. Hwa (202) 622-3840 Reviewing Attorney: Phyllis Marcus (202) 622-3840 Tresury Attorney: John Harrington (202) 6220589 CC:INTL Agency Contact: Kate Y. Hwa, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3840 RIN: 1545-BG11 _______________________________________________________________________ 2353. [bull] MEDICAL AND ACCIDENT INSURANCE BENEFITS UNDER QUALIFIED PLANS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 402; 26 USC 7805; PL 109-280, sec 845 [[Page 23057]] CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The proposed regulations under section 402(a) of the Internal Revenue Code regarding the tax treatment of payments by qualified plans for medical or accident insurance. The document also contains proposed conforming amendments to the regulations. These regulations would affect administrators of, and participants and beneficiaries in, qualified plans. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses, Governmental Jurisdictions Government Levels Affected: Local, State Additional Information: REG-148393-06 Drafting attorney: Pamela R. Kinard (202) 622-8358 Reviewing attorney: Lisa Mojiri-Azad (202) 622-6080 CC: TEGE Agency Contact: Pamela R. Kinard, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-8358 Email: pamela.r.kinard@irscounsel. treas.gov RIN: 1545-BG12 _______________________________________________________________________ 2354. [bull] WITHDRAWAL OF REGULATIONS UNDER OLD SECTION 6323(B)(10) Priority: Info./Admin./Other Legal Authority: 26 USC 6323 CFR Citation: 26 CFR 301.6323(b)-1(j); 26 CFR 301.6323(g)-1(c)(1)(3) Legal Deadline: None Abstract: Deletion of dollar limits and other references to make regulation conform to current version of 26 USC 6323. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-141998-06 Drafting attorney: Debra Kohn (202) 622-7985 Reviewing attorney: Lawrence H. Schattner (202) 622-3620 CC: PA: CBS Agency Contact: Debra A. Kohn, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7985 Email: debra.akohn@irscounsel. treas.gov RIN: 1545-BG13 _______________________________________________________________________ 2355. [bull] CORPORATE REORGANIZATIONS: GUIDANCE ON THE MEASUREMENT OF CONTINUITY OF INTEREST Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1.368-1 Legal Deadline: None Abstract: The proposed regulations will provide guidance regarding when continuity of interest is measured in certain transactions. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 03/20/07 72 FR 13058 NPRM Comment Period End 06/18/07 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-146247-06 Drafting attorney: Lisa S. Dobson (202) 622-5429 Reviewing attorney: Virginia Voorhees (202) 622-3003 Treasury attorney: Marc Countryman (202) 622-9858 CC: COR Agency Contact: Lisa S. Dobson, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 5426, Washington, DC 20224 Phone: 202 622-5429 Email: lisa.s.dobson@irscounsel. treas.gov Related RIN: Related to 1545-BG14 RIN: 1545-BG15 _______________________________________________________________________ 2356. [bull] SECTION 7508A REGULATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7508; 26 USC 7805A CFR Citation: 26 CFR 301.7508A-1 (Revision) Legal Deadline: None Abstract: Proposed regulations for postponement of certain tax-related deadlines by reason of Presidentially Declared Disaster Area. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-142680-06 Drafting attorney: Melissa C. Quale (202) 622-7495 Reviewing attorney: Charles A. Hall (202) 622-7269 CC: PA: APJ Agency Contact: Melissa C. Quale, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-7495 Fax: 703 605-1959 Email: melissa.c.quale@irscounsel. treas.gov Related RIN: Related to 1545-BG17 RIN: 1545-BG16 _______________________________________________________________________ 2357. [bull] SECTION 751(B) UPDATE Priority: Substantive, Nonsignificant Legal Authority: 26 USC 751(b); 26 USC 7605 CFR Citation: 26 CFR 1.751-1 Legal Deadline: None Abstract: Revised Regulations under Section 751(b). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: Undetermined [[Page 23058]] Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-151416-06 Drafting attorneys: Allison R. Carmody (202) 622-3273 and Frank J. Fisher (202) 622-3070 Reviewing attorney: James A. Quinn (202) 622-3080 Treasury attorney: William Bowers (202) 622-5721 CC: PSI Agency Contact: Allison R. Carmody, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-3273 Email: allison.r.carmody@irscounsel. treas.gov Frank J. Fisher, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-3070 Email: frank.j.fisher@irscounsel. treas.gov RIN: 1545-BG21 _______________________________________________________________________ 2358. [bull] ANTI-AVOIDANCE AND ANTI-LOSS REIMPORTATION RULES APPLICABLE FOLLOWING A LOSS ON DISPOSITION OF STOCK OF CONSOLIDATED SUBSIDIARIES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 1502 CFR Citation: 26 CFR 1.1502-35 Legal Deadline: None Abstract: This document will provide proposed regulations which add a new general anti-avoidance rule and revise the anti-loss reimportation rules in 1.1502-35. The purpose of the rules is to prevent the duplication of loss and prevent a consolidated group of corporations from obtaining more than one tax benefit from a single economy. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/10/07 72 FR 17814 NPRM Comment Period End 07/09/07 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-156420-06 Drafting attorney: Phoebe Bennett (202) 622-7770 Reviewing attorney: Theresa Abell (202) 622-7700 CC: COR Agency Contact: Phoebe Bennett, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-7770 Fax: 202 622-0477 Email: phoebe.bennett@irscounsel. treas.gov RIN: 1545-BG25 _______________________________________________________________________ 2359. [bull] DETERMINING THE AMOUNT OF TAXES PAID FOR PURPOSES OF SECTION 901 Priority: Substantive, Nonsignificant Legal Authority: 26USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Section 901 of the Internal Revenue Code permits taxpayers to claim a credit for income, war profits, and excess profits taxes paid or accrued (or deemed paid) during the taxable year to a foreign country or a possession of the United States. The proposed regulations would provide guidance in determining the amount of foreign taxes paid for purposes of section 901. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-156779-06 Drafting Attorney: Bethany A. Ingwalson (202) 622-3850 CC:INTL Agency Contact: Bethany Ingwalson, Senior Counsel, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3850 RIN: 1545-BG27 _______________________________________________________________________ 2360. [bull] CORPORATE REORGANIZATIONS; ADDITIONAL GUIDANCE ON DISTRIBUTIONS UNDER SECTIONS 368(A)(1)(D) AND 354(B)(1)(B) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: Not Yet Determined Legal Deadline: None Abstract: The IRS is issuing temporary regulations amending TD 9303, which provides guidance regarding the qualification of certain transactions as reorganizations described in section 368(a)(1)(D) where no stock and/or securities of the acquiring corporation is issued and distributed in the transaction. These regulations clarify that the rules in section 1.368-2(l) are not intended to affect the qualification of related party triangular asset acquisitions as reorganizations described in section 368 relating to the distribution requirement under sections 368(a)(1)(D) and 354(b)(1)(B). The text of these regulations also serves as the text of proposed regulations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 03/01/07 72 FR 9284 NPRM Comment Period End 05/30/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-157834-06 Drafting attorney: Bruce Decker (202) 622-8039 Reviewing attorney: Lisa Fuller (202) 622-7152 Treasury attorney: Marc Countryman (202) 622-9858 CC: Corp Agency Contact: Bruce Decker, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-8039 Fax: 202 622-4111 Email: bruce.a.decker@irscounsel. treas.gov Related RIN: Related to 1545-BG29 RIN: 1545-BG28 [[Page 23059]] _______________________________________________________________________ 2361. [bull] MORTALITY TABLE FOR DETERMINING PRESENT VALUE Priority: Substantive, Nonsignificant Legal Authority: 26 USC 430(h)(3); 26 USC 7701; 26 USC 7805 CFR Citation: 26 CFR 1.430(h)-1; 26 CFR 1.430(h)-2 Legal Deadline: None Abstract: These regulations will provide guidelines regarding mortality tables to be used to determine present value for purposes of the qualified defined benefit plan funding requirements that will become effective in 2008. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses, Organizations Government Levels Affected: None Additional Information: REG-143601-06 Drafting attorney: Bruce Perlin (202) 622-6090 Reviewing attorney: Linda S. Marshall (202) 622-6090 CC: TEGE Agency Contact: Bruce Perlin, Senior Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6090 Email: bruce.l.perlin@irscounsel. treas.gov RIN: 1545-BG30 _______________________________________________________________________ 2362. [bull] QUALIFIED FILMS UNDER SECTION 199 Priority: Substantive, Nonsignificant Legal Authority: 26 USC 199; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The proposed regulations will modify the definition of a qualified film produced by a taxpayer under section 199(c)(4)(A)(i)(II). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Undetermined Additional Information: REG-103842-07 Drafting attorney: David H. McDonnell (202) 622-3040 Reviewing attorney: Paul Handleman (202) 622-3040 Treasury attorney: Dennis Tingey (202) 622-1335 CC: PSI Agency Contact: David H. McDonnell, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Room 5105, Washington, DC 20224 Phone: 202 622-3040 Fax: 202 622-4753 Email: david.h.mcdonnell@irscounsel. treas.gov RIN: 1545-BG33 _______________________________________________________________________ 2363. [bull] HYBRID RETIREMENT PLANS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 411(a)(13); 26 USC 411(b)(5); 26 USC 702 of Pension Protection Act of 2006,; PL No. 109-280, 120 Stat. 780; 26 USC 7805 CFR Citation: 26 CFR sec 1.411(a)(13)-1; 26 CFR sec 1.411(b)(5)-1 Legal Deadline: NPRM, Statutory, August 16, 2007, Pursuant to section 702 of PPA `06, regulations must be prescribed addressing the application of the rules set forth in section 701 of PPA `06 where the conversion of a plan to a hybrid plan is made. NPRM, Statutory, August 16, 2007, with respect to a group of employees who become employees by reason of a merger, acquisition, or similar transaction. Abstract: The proposed regulations provide guidance with respect to sections 411(a)(13) and 411(b)(5) of the Code. Section 411(a)(13) provides rules relating to vesting and payment of benefits under tax- qualified hybrid defined benefit plans. Section 411(b)(5) provides age discrimination rules for tax-qualified defined benefit plans, including hybrid defined benefit plans. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: Federal, Local, State, Tribal Additional Information: REG-104946-07 Drafting attorney: Lauson C. Green (202) 622-3051 Reviewing attorney: Marjorie Hoffman (202) 622-1357 Treasury attorney: Harlan Weller (202) 622-1001 CC: TEGE Agency Contact: Lauson C. Green, Senior Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Room 4427-W, Washington, DC 20224 Phone: 202 622-3051 Fax: 202 927-1851 Email: lauson.c.green@irscounsel. treas.gov RIN: 1545-BG36 _______________________________________________________________________ 2364. [bull] CALCULATING AND APPORTIONING THE SECTION 11(B)(1) ADDITIONAL TAX UNDER SECTION 1561 FOR CONTROLLED GROUPS Priority: Info./Admin./Other Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 301.7805 Legal Deadline: None Abstract: The project will provide guidance to component members of a controlled group in calculating and apportioning the section 11(b)(1) additional tax. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-104713-07 Drafting attorney: Grid R. Glyer (202) 622-7324 Reviewing attorney: Steven Hankin (202) 622-7930 Treasury attorney: Marc Countryman (202) 622-9858 CC: COR Agency Contact: Grid R. Glyer, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 [[Page 23060]] Phone: 202 622-7324 Fax: 202 622-6298 Email: grid.r.glyer@irscounsel.treas.gov Related RIN: Related to 1545-BG40 RIN: 1545-BG39 _______________________________________________________________________ 2365. [bull] INTEREST ON OVERPAYMENTS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 6611; 26 USC 6513; 26 USC 7805; Overseas Thread Industries, Ltd. v. United States, 48 Cl. Ct. 221 (2000); MNOPF Trustees, Ltd. v. United States, 123 F. 3d 1460 (Fed. Cir. 1997) CFR Citation: 26 CFR 301.6611-1 Legal Deadline: None Abstract: The amendments to Treasury Regulation 301.6611-1 Interest on Overpayments will explain the dates interest starts to accrue on refunds of overpayments claimed by corporations in four fact patterns: Refunds of withheld taxes claimed by foreign corporations that are subject to taxation but not required to file tax returns, refunds of withheld taxes claimed by foreign corporations not subject to taxation, refunds of estimated payments claimed by corporations not subject to taxation, and refunds of estimated payments claimed by corporations subject to taxation that have income excludible from gross income. The amendments will clarify the Service's position on the decisions in Overseas Thread Industries, Ltd. v. United States, 48 Cl. Ct. 221 (2000) and MNOPF Trustees, Ltd. v. United States, 123 F. 3d 1460 (Fed. Cir. 1997). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses, Organizations Government Levels Affected: None Additional Information: REG-143889-06 Drafting attorney: Barbara M. Pettoni (202) 622-4196 Reviewing attorney: Tiffany P. Smith (202) 927-1644 CC: PA: APJ Agency Contact: Barbara M. Pettoni, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Room 5541, Washington, DC 20224 Phone: 202 622-4196 Email: barbara.m.pettoni@irscounsel. treas.gov RIN: 1545-BG42 _______________________________________________________________________ 2366. [bull] DETERMINATION OF GOVERNMENTAL PLAN STATUS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 414(d); Section 906 of Pension Protection Act of 2006, Pub. L. No. 109-280, 120 Stat. 780.; 26 USC 7805 CFR Citation: 26 CFR 1.414(d)-1 Legal Deadline: None Abstract: The proposed regulations provide guidance relating to the determination of whether a plan is a governmental plan within the meaning of section 414(d) of the Internal Revenue Code. There proposed regulations would affect sponsors of, and participants and beneficiaries in, employee benefit plans that are determined to be governmental plans. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Governmental Jurisdictions Government Levels Affected: Federal, Local, State Additional Information: REG-157714-06 Drafting attorney: Pamela R. Kinard (202) 622-8358 Reviewing attorney: Cheryl E. Press (202) 622-6060 Treasury attorney: William Bortz (202) 622-1352 CC: TEGE Agency Contact: Pamela R. Kinard, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-8358 Email: pamela.r.kinard@irscounsel. treas.gov RIN: 1545-BG43 _______________________________________________________________________ 2367. [bull] NOTICE REQUIREMENTS FOR CERTAIN PENSION PLAN AMENDMENTS SIGNIFICANTLY REDUCING THE RATE OF FUTURE BENEFIT ACCRUAL Priority: Substantive, Nonsignificant Legal Authority: 26 USC 4980F; 26 USC 7805; Sections 103(b)(1)(B), 111, 113(a)(1)(B), 402, 502, 1107 of Pension Protection Act of 2006, PL No. 109-280, 120 Stat. 780 CFR Citation: 26 CFR 1.411(d)-3(a)(1); 26 CFR 54.4980F-1 Legal Deadline: None Abstract: The proposed regulations would provide guidance relating to the interaction of the requirements under section 4980F of the Internal Revenue Code with a plan amendment that is permitted to reduce benefits accrued before the plan amendment's applicable amendment date. The proposed regulations would also reflect changes made to section 4980F of the Code by the Pension Protection Act of 2006, Public Law 109-780 (120 Stat. 780). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-110136-07 Drafting attorney: Pamela R. Kinard (202) 622-8358 Reviewing attorney: Marjorie Hoffman (202) 622-6060 Treasury attorney: William Bortz (202) 622-1352 CC: TEGE Agency Contact: Pamela R. Kinard, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-8358 Email: pamela.r.kinard@irscounsel. treas.gov RIN: 1545-BG48 _______________________________________________________________________ 2368. [bull] EMPLOYMENT TAX ADJUSTMENTS Priority: Info./Admin./Other Legal Authority: 26 USC 6205; 26 USC 6413 [[Page 23061]] CFR Citation: 26 CFR 31.6205-1; 26 CFR 31.6413(a)-1; 26 CFR 31.6413(a)- 2 Legal Deadline: None Abstract: Proposed amendment of section 31.6205-1, section 31.6413(a)- 1, and section 31.6413(a)-2 of the Employment Tax Regulations to provide guidance for employers and employees relating to the adjustment process for employment taxes. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-111583-07 Drafting attorney: Ligeia M. Donis (202) 622-0047 Reviewing attorney: Janine Cook (202) 622-0047 Treasury attorney: Kevin Knopf (202) 622-2329 CC: TEGE Agency Contact: Ligeia M. Donis, General Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 4006, Washington, DC 20224 Phone: 202 622-0047 Fax: 202 622-5697 Email: ligeia.m.donis@irscounsel. treas.gov Related RIN: Related to 1545-BG51 RIN: 1545-BG50 _______________________________________________________________________ Department of the Treasury (TREAS) Final Rule Stage Internal Revenue Service (IRS) _______________________________________________________________________ 2369. INCOME TAX--DEFINITION OF QUALIFIED POSSESSION SOURCE INVESTMENT INCOME FOR PURPOSES OF PUERTO RICO AND POSSESSION TAX CREDIT Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 936 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will provide rules with respect to what constitutes qualified possession source investment income for purposes of the Puerto Rico and possession tax credit. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/21/86 51 FR 2726 Final Action 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-209013-86 (INTL-44-86) Drafting attorney: Thomas A. Vidano (202) 435-5265 Reviewing attorney: John M. Breen (202) 435-5265 CC:INTL Agency Contact: Thomas A. Vidano, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 435-5265 RIN: 1545-AC10 _______________________________________________________________________ 2370. INFORMATION FROM PASSPORT AND IMMIGRATION APPLICANTS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 6039E CFR Citation: 26 CFR 301 Legal Deadline: None Abstract: The regulation will prescribe under section 6039E the information to be gathered by the State Department and Immigration and Naturalization Service on passport and green card applicants and the penalties to be imposed on such applicants if they do not supply the information. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/24/92 57 FR 61373 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-208274-86 (INTL-978-86) Drafting attorney: Quyen Huynh (202) 622-3880 Reviewing attorney: Elizabeth U. Karzon (202) 622-3880 CC:INTL Agency Contact: Quyen Huynh, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3880 RIN: 1545-AJ93 _______________________________________________________________________ 2371. FOREIGN CORPORATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 367 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The income tax regulations under section 367 will be amended to reflect the changes made to that section by the Tax Reform Act of 1984. Section 367 now provides generally that a foreign corporation will not be considered to be a corporation, for purposes of certain nonrecognition provisions of the Code, upon the transfer of property to such corporation by a U.S. person. The statute provides certain exceptions to that rule, exemptions to those exceptions, and special rules applicable to certain specified transfers. The regulations will provide guidance concerning the applicability of the general rule and its exceptions and special rules, including guidance concerning transfers of assets for use in the active conduct of a trade or business, stock transfers, transfers of intangible assets, and transfers of branch operations that have operated at a loss. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/16/86 51 FR 17990 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-209042-86 (INTL-610-86) [[Page 23062]] Drafting attorney: Thomas D. Beem (202) 622-3860 Reviewing attorney: Charles P. Besecky (202) 622-3860 CC:INTL Agency Contact: Thomas D. Beem, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3860 RIN: 1545-AK74 _______________________________________________________________________ 2372. NONRECOGNITION OF CORPORATE DISTRIBUTIONS AND REORGANIZATIONS UNDER THE FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 897 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These regulations will provide rules concerning the effect of certain distributions including dividends, redemptions, distributions pursuant to reorganizations, and liquidations on corporations and their shareholders under the Foreign Investment in Real Property Tax Act. Regulations will also provide rules for determining the extent to which nonrecognition would apply to certain transfers of real property interests and the extent to which certain reorganizations will be treated as sales of property at fair market value. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/05/88 53 FR 16233 Hearing 03/01/89 54 FR 1189 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-209039-87 (INTL-491-87) Drafting attorney: Margaret A. Hogan (202) 622-3860 Reviewing attorney: Charles P. Besecky (202) 622-3860 CC:INTL Agency Contact: Margaret A. Hogan, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3860 RIN: 1545-AK79 _______________________________________________________________________ 2373. COMPUTATION OF A BRANCH'S TAXABLE INCOME; TAXATION OF EXCHANGE GAIN OR LOSS ON BRANCH REMITTANCES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation relates to branch rules and how to translate branch income, and the taxation of exchange gain or loss on branch remittances. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/25/91 56 FR 48457 NPRM-Withdrawn 09/07/06 71 FR 52876 Second NPRM 09/07/06 71 FR 52876 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-208270-86 (INTL-965-86) Drafting attorney: Margaret K. Harris (202) 622-3870 Reviewing attorney: Jeffrey Dorfman (202) 622-3870 CC:INTL Agency Contact: Margaret K. Harris, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3870 RIN: 1545-AM12 _______________________________________________________________________ 2374. EARNINGS AND PROFITS OF CONTROLLED FOREIGN CORPORATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 964 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will develop procedures for foreign corporations, or U.S. shareholders to make tax elections in computing functional currency earnings and profits under the 1986 Code. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/25/90 55 FR 2535 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-209022-89 (INTL-087-89) Drafting attorney: Jeffrey L. Parry (202) 622-3850 Reviewing attorney: Barbara A. Felker (202) 622-3850 CC:INTL Agency Contact: Jeffrey L. Parry, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3850 RIN: 1545-AM90 _______________________________________________________________________ 2375. EARNINGS STRIPPING PAYMENTS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation addresses the deductibility of interest under section 163 being limited when paid by a corporation to related persons not subject to U.S. tax. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/18/91 56 FR 27907 Hearing 09/25/91 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-209059-89 (INTL-870-89) Drafting attorney: Theodore D. Setzer (202) 622-3870 Reviewing attorney: Jeffrey L. Dorfman (202) 622-3870 CC: INTL [[Page 23063]] Agency Contact: Theodore D. Setzer, Senior Counsel, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3870 RIN: 1545-AO24 _______________________________________________________________________ 2376. REGISTRATION REQUIRED OBLIGATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 165 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will finalize all outstanding proposed regulations under section 1.163-1(b)(2). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/21/93 58 FR 5316 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-208245-90 (INTL-115-90) Drafting attorney: Carl M. Cooper (202) 622-3840 Reviewing attorney: Valerie A. Mark Lippe (202) 622-3840 CC:INTL Agency Contact: Carl M. Cooper, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3840 RIN: 1545-AP33 _______________________________________________________________________ 2377. MARK-TO-MARKET UPON DISPOSITION Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 475 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulations address the relationship between mark-to- market accounting and accrual of stated interest, discount and premium, and between mark-to-market accounting and the tax treatment of bad debts. The regulations also provide that securities are to be marked to market upon disposition by a dealer and the exemption from marking to market in certain securitization transactions. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/04/95 60 FR 397 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-209724-94 (FI-42-94) Drafting attorney: Lauren Medovoy (202) 622-6502 Reviewing attorney: Elizabeth Handler (202) 622-3157 Treasury attorneys: Michael Novey (202) 622-1339 CC:FIP Sections 1.475(a)-3 finalized in TD 8700. Sections 1.475(b)-4 finalized in TD 8700. Sections 1.475(c)-2 finalized in TD 8700. Agency Contact: Lauren J. Medovoy, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3920 Fax: 202 622-7970 Email: lauren.j.medovoy@irscounsel. treas.gov RIN: 1545-AS85 _______________________________________________________________________ 2378. STRADDLES--MISCELLANEOUS ISSUES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 1092 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation clarifies the circumstances in which common stock may be personal property for purposes of section 1092. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/02/95 60 FR 21482 Final Action 09/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-209768-95 (FI-21-95) Drafting attorney: Mary Brewer (202) 622-3950 Reviewing attorney: Christina Morrison (202) 622-3950 Treasury attorney: Mike Novey (202) 622-1339 CC:FI Agency Contact: Mary Brewer, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3950 RIN: 1545-AT46 _______________________________________________________________________ 2379. RECOMPUTATION OF LIFE INSURANCE RESERVES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 816 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These regulations will permit recomputation of life insurance reserves that were not originally computed according to the requirements of section 816(b)(1)(A). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/02/97 62 FR 71 Final Action 01/00/08 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-246018-96 Drafting attorney: Sheryl B. Flum (202) 622-7378 Reviewing attorney: Donald J. Drees (202) 622-3970 Treasury attorney: Mark S. Smith (202) 622-0180 CC:FI Agency Contact: Sheryl B. Flum, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-7378 Email: sheryl.b.flum@irscounsel. treas.gov RIN: 1545-AU49 [[Page 23064]] _______________________________________________________________________ 2380. MARK-TO-MARKET ACCOUNTING FOR DEALERS IN COMMODITIES AND TRADERS IN SECURITIES AND COMMODITIES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 475; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation provides guidance concerning mark-to-market accounting for securities traders and commodities dealers and traders. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/28/99 64 FR 4374 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-104924-98 Drafting attorney: Lauren J. Medovoy (202) 622-3920 Reviewing attorney: Elizabeth A. Handler (202) 622-3920 Treasury attorney: Michael Novey (202) 622-1339 CC:FI Agency Contact: Lauren J. Medovoy, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3920 Fax: 202 622-7970 Email: lauren.j.medovoy@irscounsel. treas.gov RIN: 1545-AW06 _______________________________________________________________________ 2381. STOCKS AND SECURITIES SAFE HARBOR EXCEPTION Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation clarifies and updates the safe harbor that one is not engaged in a trade or business as a result of trading in stocks and securities. The amendment will provide additional guidance regarding the definitions of stocks and securities. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/12/98 63 FR 32164 Hearing 09/09/98 NPRM Comment Period End 09/10/98 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-106031-98 Drafting attorney: Paul S. Epstein (202) 622-3870 CC:INTL Agency Contact: Paul S. Epstein, Senior Technical Reviewer, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3870 RIN: 1545-AW13 _______________________________________________________________________ 2382. INTERCOMPANY OBLIGATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 1502; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulation provides clarification of the tax treatment of certain transfers of intercompany obligations by or to a member of a consolidated group. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/21/98 63 FR 70354 NPRM Comment Period End 03/22/99 Final Action 09/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-105964-98 Drafting attorney: Frances L. Kelly (202) 622-7072 Reviewing attorney: Michael J. Wilder (202) 622-3393 Treasury attorney: None CC: COR Agency Contact: Frances L. Kelly, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7072 Email: frances.l.kelly@irscounsel. treas.gov Related RIN: Related to 1545-BA11 RIN: 1545-AW30 _______________________________________________________________________ 2383. ALLOCATION AND APPORTIONMENT OF INTEREST EXPENSE AND CERTAIN OTHER EXPENSES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 864 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These regulations provide rules for the allocation and apportionment of interest expenses and certain other expenses for purposes of the foreign tax credit and certain other international tax provisions. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 02/05/90 55 FR 3750 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-117608-99 Drafting attorney: David F. Bergkuist (202) 622-3850 Reviewing attorney: Anne O. Devereaux (202) 622-3850 CC:INTL Agency Contact: David F. Bergkuist, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3850 RIN: 1545-AX72 _______________________________________________________________________ 2384. CAPITALIZATION OF INTEREST AND CARRYING CHARGES PROPERLY ALLOCABLE TO STRADDLES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 263; 26 USC 1092 CFR Citation: 26 CFR 1 Legal Deadline: None [[Page 23065]] Abstract: These regulations will clarify the types of payments that may be ``interest'' or ``carrying charges'' subject to 26 U.S.C. 263(g), clarify the operation of the capitalization rules of 26 U.S.C. 263(g), and also clarify what constitutes ``positions'' and ``losses'' subject to 26 U.S.C. 1092. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/18/01 66 FR 4746 NPRM Comment Period End 05/01/01 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-105801-00 Drafting attorney: Mary Brewer (202) 622-3950 Reviewing attorney: Christina Morrison (202) 622-3950 Treasury attorney: Mike Novey (202) 622-1339 CC:FI Agency Contact: Mary Brewer, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3950 RIN: 1545-AX92 _______________________________________________________________________ 2385. GUIDANCE ON CHANGES TO THE LAWS FOR CORPORATE ESTIMATED TAXES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 6655 CFR Citation: 26 CFR 1; 26 CFR 301 Legal Deadline: None Abstract: The proposed regulations provide guidance for corporations to compute their estimated tax liabilities. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/12/05 70 FR 73393 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-107722-00 Drafting attorney: Joseph P. Dewald (202) 622-4910 Reviewing attorney: Pamela W. Fuller (202) 622-4910 Treasury attorney: Sharon Kay (202) 622-0865 CC:PA:APJ Agency Contact: Joseph P. Dewald, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4910 RIN: 1545-AY22 _______________________________________________________________________ 2386. PREVIOUSLY TAXED EARNINGS AND PROFITS UNDER SUBPART F Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 959 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will address the determination of previously taxed earnings and profits under subpart F. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/29/06 71 FR 51155 NPRM Comment Period End 11/27/06 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-121509-00 Drafting attorney: Ethan A. Atticks (202) 622-3840 Reviewing attorney: Phyllis E. Marcus (202) 622-3840 CC:INTL Agency Contact: Ethan A. Atticks, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3840 RIN: 1545-AY54 _______________________________________________________________________ 2387. NORMALIZATION Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 167; 26 USC 168; 26 USC 46 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These regulations relate to the sale or deregulation of generation assets. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/21/05 70 FR 75762 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-104385-01 Drafting attorney: David Selig (202) 622-3040 Reviewing attorney: Peter Friedman (202) 622-3110 Treasury attorney: John Parcell (202) 622-2578 CC:PSI Agency Contact: David Selig, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3040 RIN: 1545-AY75 _______________________________________________________________________ 2388. CONSOLIDATED RETURNS; NONAPPLICABILITY OF SECTION 357(C) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 1502 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulations make amendments to section 1.1502-80(d) of the consolidated return regulations dealing with the scope of the nonapplicability of section 357(c) in a consolidated group. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 11/14/01 66 FR 57021 Public Hearing 03/21/02 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-137519-01 Drafting attorney: Thomas I. Russell (202) 622-7550 [[Page 23066]] Reviewing attorney: Alfred Bishop (202) 622-7930 Treasury attorney: None CC: COR Agency Contact: Thomas I. Russell, Senior Counsel, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7550 Email: t.ian.russell@irscounsel. treas.gov RIN: 1545-BA09 _______________________________________________________________________ 2389. REDUCTIONS OF ACCRUALS AND ALLOCATIONS BECAUSE OF INCREASED AGE Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 411 CFR Citation: 26 CFR 1 Legal Deadline: Final, Statutory, February 1, 1988. Abstract: These regulations will prescribe rules regarding the requirement that accruals and allocations under qualified retirement plans cannot be reduced because of the attainment of any age. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/11/02 67 FR 76123 Public Hearing set for 04/10/ 2003 12/11/02 67 FR 76123 Public Hearing Rescheduled for 4/09/2003 01/17/03 68 FR 2466 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses, Organizations Government Levels Affected: None Additional Information: REG-209500-86 Drafting attorney: Linda S.F. Marshall (202) 622-6090 Reviewing attorney: Marjorie Hoffman (202) 622-6090 Treasury attorney: Harlan Weller (202) 622-1001 CC:TEGE Agency Contact: Linda S.F. Marshall, Senior Counsel, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6090 Related RIN: Related to 1545-BB79 RIN: 1545-BA10 _______________________________________________________________________ 2390. SUSPENSION OF STATUTES OF LIMITATION IN JOHN DOE AND THIRD PARTY SUMMONS DISPUTES, AND EXPANSION OF TAXPAYERS' RIGHTS TO RECEIVE NOTICE AND SEEK JUDICIAL REVIEW OF THIRD PARTY SUMMONSES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7603; 26 USC 7609; 26 USC 7805 CFR Citation: 26 CFR 301 Legal Deadline: None Abstract: The proposed regulation provides guidance regarding modified rules for serving summonses on third party recordkeepers, the broadened range of summonses subject to the notice requirements, and the suspension of limitations periods when court actions are brought or when a summoned third party fails to fully respond to a summons. This proposed regulation incorporates the changes enacted in the Internal Revenue Service Restructuring and Reform Act of 1998, Omnibus Budget Reconciliation Act of 1990, Technical and Miscellaneous Revenue Act of 1988, and the Tax Reform Act of 1986. This regulation is a continuation of the regulation project previously numbered at REG-208225-88. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/21/06 71 FR 41377 NPRM Comment Period End 10/09/06 Final Action 05/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-153037-01 Drafting attorney: Elizabeth D. Rawlins (202) 622-3600 Reviewing attorney: Peter J. Devlin (202) 622-3600 Treasury attorney: Anita Soucy (202) 622-1766 CC: PA: CBS Agency Contact: Elizabeth D. Rawlins, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3600 RIN: 1545-BA31 _______________________________________________________________________ 2391. NONCOMPENSATORY PARTNERSHIP OPTIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 704; 26 USC 721; 26 USC 761; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will describe the tax treatment of noncompensatory partnership options. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/22/03 68 FR 2930 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-103580-02 Drafting attorneys: Joy C. Spies (202) 622-3050 and Jonathan E. Cornwell (202) 622-4504 Reviewing attorney: Audrey W. Ellis (202) 622-3050 Treasury attorney: William Bowers (202) 622-5721 CC: PSI Agency Contact: Joy C. Spies, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3998 Fax: 202 622-3308 Email: joy.c.spies@irscounsel.treas.gov Jonathan E. Cornwell, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Consitution Avenue, NW, Washington, DC 20224 Phone: 202 622-4504 Email: jonathan.e.cornwell@irscounsel. treas.gov RIN: 1545-BA53 _______________________________________________________________________ 2392. CIRCULAR 230--PHASE 2 NONSHELTER REVISIONS Priority: Substantive, Nonsignificant Legal Authority: 31 USC 330 CFR Citation: 26 CFR 1 [[Page 23067]] Legal Deadline: None Abstract: These regulations propose amendments to the rules governing practice before the Internal Revenue Service. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 12/19/02 67 FR 77724 ANPRM Comment Period End 02/18/03 NPRM 02/08/06 71 FR 6421 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-122380-02 Drafting attorney: Matthew S. Cooper (202) 622-4940 Reviewing attorney: Richard S. Goldstein (202) 622-7820 Treasury attorney: Michael Desmond (202) 622-1981 CC:PA:APJ Agency Contact: Matthew S. Cooper, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 5135, Washington, DC 20224 Phone: 202 622-4940 Fax: 202 622-1585 Email: matthew.s.cooper@irscounsel. treas.gov RIN: 1545-BA72 _______________________________________________________________________ 2393. GUIDANCE ON REPORTING OF DEPOSIT INTEREST PAID TO NONRESIDENT ALIENS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1; 26 CFR 31 Legal Deadline: None Abstract: This regulation will provide guidance on the reporting requirements for interest on deposits maintained at U.S. offices of certain financial institutions and paid to nonresident aliens that are residents of certain specified countries. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/02/02 67 FR 50386 Hearing 12/05/02 67 FR 50386 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-133254-02 Drafting attorney: Ethan A. Atticks (202) 622-3840 Reviewing attorney: Valerie Mark Lippe (202) 622-3840 CC:INTL Agency Contact: Ethan A. Atticks, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3840 RIN: 1545-BA86 _______________________________________________________________________ 2394. SECTION 1248 ATTRIBUTION PRINCIPLES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will address the manner in which earnings and profits are attributed to shares under sections 1248 and 367. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/02/06 71 FR 31985 NPRM Comment Period End 08/31/06 Final Action 12/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-135866-02 Drafting attorney: Michael I. Gilman (202) 622-3850 Reviewing attorney: Richard L. Chewning (202) 622-3850 Treasury attorney: Gretchen Sierra (202) 622-1755 CC:INTL Agency Contact: Michael I. Gilman, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW., Washington, DC 20024 Phone: 202 622-3850 RIN: 1545-BA93 _______________________________________________________________________ 2395. GUIDANCE TO FACILITATE ELECTRONIC TAX ADMINISTRATION Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 301 Legal Deadline: None Abstract: This regulation will facilitate electronic tax administration. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/08/05 70 FR 72954 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-137243-02 Drafting attorney: Dillon Taylor (202) 622-4940 Reviewing attorney: Ashton P. Trice (202) 622-4940 Treasury attorney: Michael Desmond (202) 622-1981 CC:PA:APJ Agency Contact: Dillon Taylor, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 5127, Washington, DC 20224 Phone: 202 622-4940 Fax: 202 622-1585 Email: dillon.j.taylor@irscounsel. treas.gov RIN: 1545-BA96 _______________________________________________________________________ 2396. SECTION 482: METHODS TO DETERMINE TAXABLE INCOME IN CONNECTION WITH A COST-SHARING ARRANGEMENT Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 482 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These regulations will provide additional guidance on cost sharing arrangements under section 482. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/29/05 70 FR 51116 Hearing 12/16/05 70 FR 51116 Final Action 05/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Federalism: Undetermined [[Page 23068]] Additional Information: REG-144615-02 Drafting attorney: Kenneth P. Christman (202) 435-5265 Reviewing attorney: John M. Breen (202) 435-5266 Treasury attorney: David Ernick (202) 622-1754 CC:INTL Agency Contact: Kenneth P. Christman, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 435-5265 RIN: 1545-BB26 _______________________________________________________________________ 2397. APPLICATION OF SEPARATE LIMITATIONS TO DIVIDENDS FROM NONCONTROLLED SECTION 902 CORPORATION Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 904(d)(6) CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The American Jobs Creation Act of 2004 amended the foreign tax credit limitation rules under section 904(d) and extended lookthrough treatment to dividends paid by a 10/50 lookthrough corporation, generally effective retroactively for tax years beginning after December 31, 2002. These regulations would provide guidance needed to comply with these changes, including transition rules for dividends paid by a 10/50 lookthrough corporation. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-144784-02 Drafting attorney: Ginny Y. Chung (202) 622-3850 Reviewing attorney: Barbara Felker (202) 622-3850 CC:INTL Agency Contact: Ginny Y. Chung, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3850 Related RIN: Related to 1545-BF46 RIN: 1545-BB28 _______________________________________________________________________ 2398. TREATMENT OF SERVICES UNDER SECTION 482 Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 482 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These final regulations amend the rules for allocation of income and deductions with respect to services between members of a group of controlled entities, pursuant to section 482. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/10/03 68 FR 53447 Second NPRM 08/04/06 71 FR 44247 Second NPRM Comment Period End 11/02/06 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-146893-02 Drafting attorneys: Thomas A. Vidano (202) 435-5265 and Carol Tan (202) 435-5265 Reviewing attorney: John M. Breen (202) 435-5265 Treasury attorney: David Ernick (202) 622-1754 CC:INTL Agency Contact: Thomas A. Vidano, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 435-5265 Related RIN: Related to 1545-BC52, Related to 1545-AY38 RIN: 1545-BB31 _______________________________________________________________________ 2399. AMENDMENT TO SECTION 6724 RELATING TO FAILURE TO FILE CORRECT INFORMATION RETURNS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 6724; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Amended regulations to provide an electronic alternative procedure to when the filing of a correction is considered prompt for purposes of section 6724. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/09/03 68 FR 40857 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-141669-02 Drafting attorney: Michael E. Hara (202) 622-4910 Reviewing attorney: Nancy L. Rose (202) 622-4910 Treasury attorney: Eric San Juan (202) 622-0224 CC:PA:APJ Agency Contact: Michael E. Hara, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 5529, Washington, DC 20224 Phone: 202 622-7419 Fax: 202 927-9248 Email: michael.e.hara@irscounsel. treas.gov RIN: 1545-BB41 _______________________________________________________________________ 2400. CONTRIBUTIONS TO PURCHASE CERTAIN RETIREMENT ANNUITIES OR CUSTODIAL ACCOUNTS UNDER SECTION 403(B) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 403(b); 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation would revise and update the current section 403(b) regulations to reflect the numerous statutory revisions to this section of the Internal Revenue Code since these regulations were first promulgated in 1964. Section 403(b) concerns the income tax exclusion for contributions to purchase certain retirement annuities or custodial accounts made for their employees by certain tax-exempt employers or State-sponsored educational institutions. [[Page 23069]] Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 11/16/04 69 FR 67075 Hearing 11/16/04 69 FR 67084 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Governmental Jurisdictions Government Levels Affected: Local, State, Tribal Additional Information: REG-155608-02 Drafting attorney: John A. Tolleris (202) 622-6060 Reviewing attorney: Cheryl Press (202) 622-6060 Treasury attorney: William Bortz (202) 622-1352 CC:TEGE Agency Contact: John A. Tolleris, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6060 Related RIN: Related to 1545-BF35 RIN: 1545-BB64 _______________________________________________________________________ 2401. NOTIONAL PRINCIPAL CONTRACTS; CONTINGENT NONPERIODIC PAYMENTS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1; 26 CFR 602 Legal Deadline: None Abstract: These regulations relate to the character and the inclusion into income and deduction of contingent nonperiodic payments made pursuant to a notional principal contract. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 02/26/04 69 FR 8886 NPRM Comment Period End 05/04/04 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-166012-02 Drafting attorney: Anna H. Kim (202) 622-3920 Reviewing attorney: Kathleen A. Sleeth (202) 622-3920 Treasury attorney: Michael Novey (202) 622-1339 CC:FI Agency Contact: Anna H. Kim, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-3920 Email: anna.h.kim@irscounsel.treas.gov RIN: 1545-BB82 _______________________________________________________________________ 2402. REMIC RESIDUALS--TIMING OF INCOME FOR FOREIGN HOLDERS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 860G(b); 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These proposed regulations cross-reference temporary regulations that address transactions in which partnerships with foreign partners were being used in an attempt to avoid tax on some REMIC excess inclusions. That avoidance would have violated Congress' clear intention that excess inclusion income should always produce some tax liability. Under the regulations, if a domestic partnership holds REMIC residual interests and allocates excess inclusions from those interests to foreign partners, the foreign partners' recognition of the excess inclusion income is accelerated for purposes of the withholding rules, and the partnership is required to withhold on the income, even in the absence of distributions of cash or property to the foreign partners. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/01/06 71 FR 43398 NPRM Comment Period End 10/30/06 Final Action 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-159929-02 Drafting attorney: Arturo Estrada (202) 622-3900 Treasury attorney: Michael Novey (202) 622-1339 CC: FI Agency Contact: Arturo Estrada, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3900 RIN: 1545-BB84 _______________________________________________________________________ 2403. PREDECESSORS OR SUCCESSORS UNDER SECTION 355(E) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 355; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These regulations under section 355(e) set forth whether a transferor or a transferee of distributing or controlled assets is a predecessor or successor. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 11/22/04 69 FR 67873 Final Action 05/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-145535-02 Drafting attorney: Ross E. Poulsen (202) 622-7770 Reviewing attorney: Stephen Fattman (202) 622-7700 CC: COR Agency Contact: Ross E. Poulsen, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7770 RIN: 1545-BB85 _______________________________________________________________________ 2404. EXPENSES FOR HOUSEHOLD AND DEPENDENT CARE SERVICES NECESSARY FOR GAINFUL EMPLOYMENT Priority: Substantive, Nonsignificant Legal Authority: 26 USC 21; 26 USC 7805 CFR Citation: 26 CFR 1; 26 CFR 602 Legal Deadline: None Abstract: The final regulations will amend existing but partially obsolete regulations under 26 U.S.C. 21 relating to dependent care credits. [[Page 23070]] Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/24/06 71 FR 29847 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-139059-02 Drafting attorney: Amy J. Pfalzgraf (202) 622-4960 CC: ITA Agency Contact: Amy J. Pfalzgraf, Senior Counsel, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4960 Email: amy.f.pfalzgraf@irscounsel. treas.gov RIN: 1545-BB86 _______________________________________________________________________ 2405. GUIDANCE REGARDING MARK-TO-MARKET VALUATION FOR CERTAIN SECURITIES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 475; 26 USC 446 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Section 475(a) requires that dealers in securities mark their securities to market. If the security is inventory, the dealer must include that security at fair market value. Taxpayers must treat any security that is not inventory as if it were sold for its fair market value on the last business day of the year. While the legal definition of the term ``fair market value'' has long been settled, the statute is silent as to what valuation methodology should be used to determine fair market value of any particular security. Many of the securities subject to section 475 raise difficult valuation issues. An advanced notice of proposed rulemaking (ANPRM) was issued on May 5, 2003, and asked for comments on a possible financial statement-tax conformity safe harbor approach for valuing certain securities under section 475 for which the determination of actual fair market value is administratively difficult. On May 24, 2005, a notice of proposed rulemaking was issued. The NPRM provided an elective safe harbor for dealers in securities, dealers in commodities and traders in securities and commodities. The safe harbor permits these taxpayers to make an election pursuant to which the values of the positions reported on certain financial statements are used as the fair market value of those positions for purposes of section 475, if certain conditions are met. Those conditions and limitations are to ensure consistency with fair market value tax principles. The NPRM also asked for specific comments relating to certain aspects of the rules. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/24/05 70 FR 29663 NPRM Comment Period End 08/22/05 Public Hearing 09/15/05 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-100420-03 Drafting attorney: Marsha A. Sabin (202) 622-3950 or John W. Rogers (202) 622-3950 Reviewing attorney: Robert Williams (202) 622-3960 Treasury attorney: Michael Novey (202) 622-1339 CC: FI Agency Contact: Marsha A. Sabin, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3950 RIN: 1545-BB90 _______________________________________________________________________ 2406. PARTNERSHIP EQUITY FOR SERVICES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 721; 26 USC 83; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will describe the tax treatment of partnership equity issued in connection with the performance of services. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/24/05 70 FR 29675 Public Hearing 10/05/05 70 FR 29676 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-105346-03 Drafting attorneys: Joy C. Spies (202) 622-3050 and Jonathan E. Cornwell (202) 622-4504 Reviewing attorney: Audrey W. Ellis (202) 622-3050 Treasury attorney: William Bowers (202) 622-5721 CC: PSI Agency Contact: Joy C. Spies, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3998 Fax: 202 622-3308 Email: joy.c.spies@irscounsel.treas.gov Jonathan E. Cornwell, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Consitution Avenue, NW, Washington, DC 20224 Phone: 202 622-4504 Email: jonathan.e.cornwell@irscounsel. treas.gov RIN: 1545-BB92 _______________________________________________________________________ 2407. ACCRUAL FOR CERTAIN REMIC REGULAR INTERESTS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulations provide guidance on the accrual of original issue discount on certain REMIC regular interests. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/25/04 69 FR 52217 Final Action 09/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-108637-03 Drafting attorney: Patrick E. White (202) 622-3920 [[Page 23071]] Reviewing attorney: Phoebe A. Mix (202) 622-4634 CC:FI Agency Contact: Patrick E. White, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3920 RIN: 1545-BB94 _______________________________________________________________________ 2408. ENTRY OF TAXABLE FUEL Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 48 Legal Deadline: None Abstract: The regulations will provide rules for payment of tax when taxable fuel is entered by an unregistered person. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/30/04 69 FR 45631 Public Hearing 10/05/04 69 FR 59572 Final Action 04/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-120616-03 Drafting attorney: Celia A. Gabrysh (202) 622-3130 Reviewing attorneys: Frank K. Boland (202) 622-3130 and Curt G. Wilson (202) 622-3000 Treasury attorney: John Parcell (202) 622-2578 CC:PSI Agency Contact: Celia A. Gabrysh, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3130 RIN: 1545-BC08 _______________________________________________________________________ 2409. SPECIAL CONSOLIDATED RETURN RULES FOR INTEREST EXPENSE DISALLOWED UNDER SECTION 265(A)(2) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 1502; 26 USC 7701; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulation will address the treatment of interest income with respect to an intercompany loan when the source of funds is borrowing from a nonmember and there is a disallowance of interest expense under section 265(a)(2). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/07/04 69 FR 25535 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-128590-03 Drafting attorney: Frances L. Kelly (202) 622-7072 Reviewing attorney: Michael Wilder (202) 622-3393 CC: COR Agency Contact: Frances L. Kelly, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7072 Email: frances.l.kelly@irscounsel. treas.gov RIN: 1545-BC23 _______________________________________________________________________ 2410. GUIDANCE REGARDING APPLICATION OF SECTION 265(A)(2) AND 246A IN TRANSACTIONS INVOLVING RELATED PARTIES, PASS-THROUGH ENTITIES, OR OTHER INTERMEDIARIES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7701(f); 26 USC 265(a); 26 USC 246A; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Section 7701(f) of the Code provides that the Secretary shall prescribe such regulations as may be necessary or appropriate to prevent the avoidance of the provisions of the Code that deal with the linking of borrowing to investment, or diminishing the risk through the use of related persons, pass-through entities, or other intermediaries. Section 7701(f) was enacted to authorize the issuance of regulations to prevent the avoidance of the purposes of sections 265(a)(2) (which disallows interest on indebtedness incurred or continued to purchase or carry tax-exempt obligations) and 246A (which reduces the dividends received deduction under sections 243, 244, or 245(a) in proportion to the extent that the portfolio stock with respect to which the dividends are received is debt-financed) through transactions involving related parties, pass-through entities, or other intermediaries. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/07/04 69 FR 25534 NPRM Comment Period End 08/05/04 Final Action 09/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-128572-03 Drafting attorney: David Silber (202) 622-3930 Reviewing attorney: Lon B. Smith (202) 622-3900 Treasury attorney: Michael Novey (202) 622-1339 CC: FI Agency Contact: David B. Silber, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3930 RIN: 1545-BC24 _______________________________________________________________________ 2411. GUIDANCE ON PFIC PURGING ELECTIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These proposed regulations will provide guidance regarding retroactive relief for taxpayers who, in limited circumstances, continue to be subject to the PFIC excess distribution regime of section 1291 although the foreign corporation in which they own stock is no longer treated as a PFIC under section 1298(b)(1) or section 1297(e). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/08/05 70 FR 72952 [[Page 23072]] Interim Final Rule Completed by TD 9232 12/08/05 70 FR 72908 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-133446-03 Drafting attorney: Paul J. Carlino(202) 622-3840 Reviewing attorney: Valerie A. Mark Lippe (202) 622-3840 Treasury attorney: David Ernick (202) 622-1754 CC:INTL Agency Contact: Paul J. Carlino, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3840 Related RIN: Related to 1545-BD33 RIN: 1545-BC37 _______________________________________________________________________ 2412. QUALIFIED SEVERANCE REGULATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 2642(a)(3)(C); 26 USC 7805 CFR Citation: 26 CFR 26 Legal Deadline: None Abstract: This regulation relates to generation-skipping transfer tax consequences of a qualified severance of a trust. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/24/04 69 FR 51967 NPRM Comment Period End 11/22/04 Final Action 04/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-145987-03 Drafting attorney: Mayer R. Samuels (202) 622-3090 Reviewing attorney: George Masnik (202) 622-3618 Treasury attorney: Catherine Hughes (202) 622-9407 CC: PSI Agency Contact: Mayer R. Samuels, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3090 Related RIN: Split from 1545-BE70 RIN: 1545-BC50 _______________________________________________________________________ 2413. STEWARDSHIP EXPENSES Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The current regulations under section 1.861-8(e)(4), titled ``Stewardship Expenses Attributable to Dividends Received,'' are confusing and subject to misuse by taxpayers. In conjunction with the proposed services regulations under section 482, it is proposed to revise these regulations to clarify the parameters of stewardship expenses, thereby demarcating them from shareholder activities under section 482 and supportive expenses under section 1.861T(b)(3). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/04/06 71 FR 44247 NPRM Comment Period End 11/02/06 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-138603-03 Drafting attorney: David F. Bergkuist (202) 622-3850 Reviewing attorney: Anne O. Devereaux (202) 622-3850 Treasury attorney: David Ernick (202) 622-1754 CC:INTL Agency Contact: David F. Bergkuist, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3850 Related RIN: Related to 1545-BB31, Related to 1545-AY38 RIN: 1545-BC52 _______________________________________________________________________ 2414. GUIDANCE UNDER SECTION 707 REGARDING DISGUISED SALES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 707; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will provide guidance regarding disguised sales of partnership interests. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 11/26/04 69 FR 68838 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-149519-03 Drafting attorney: Deane M. Burke (202) 622-3070 Reviewing attorney: Christine Ellison (202) 622-3070 Treasury attorney: William Bowers (202) 622-5721 CC:PSI Agency Contact: Deane M. Burke, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3070 RIN: 1545-BC63 _______________________________________________________________________ 2415. SECTION 1045 APPLICATION TO PARTNERSHIPS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will provide guidance on how the capital gains rollover provision of section 1045 applies to partnerships. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/15/04 69 FR 42370 Final Action 06/00/07 [[Page 23073]] Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: Undetermined Additional Information: REG-150562-03 Drafting attorneys: Jian H. Grant (202) 622-3050 Reviewing attorneys: James A. Quinn (202) 622-3070 and Mary Beth Collins (202) 622-3070 Treasury attorney: William Bowers (202) 622-5721 CC:PSI Agency Contact: Jian H. Grant, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3050 Email: jian.h.grant@irscounsel.treas.gov RIN: 1545-BC67 _______________________________________________________________________ 2416. DISCLOSURES TO SUBCONTRACTORS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Unfunded Mandates: Undetermined Legal Authority: 26 USC 6103; 26 USC 7805 CFR Citation: 26 CFR 301 Legal Deadline: None Abstract: Amending existing regulations on disclosure of returns and return information in connection with procurement of property and services for tax administration purposes. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/12/05 70 FR 2076 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses, Governmental Jurisdictions, Organizations Government Levels Affected: Federal, Local, State Additional Information: REG-148867-03 Drafting attorney: Helene R. Newsome (202) 622-4570 Reviewing attorney: Gerald R. Ryan (202) 622-4570 Treasury attorney: Eric San Juan (202) 622-0224 CC: PA: DPL Agency Contact: Helene R. Newsome, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4570 RIN: 1545-BC92 _______________________________________________________________________ 2417. SOLID WASTE DISPOSAL FACILITIES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 142; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will modify the definition of solid waste disposal facility for purposes of section 142(a)(6) of the Internal Revenue Code. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/10/04 69 FR 25856 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Local, State Additional Information: REG-140492-02 Drafting attorney: Aviva M. Roth (202) 622-3980 Reviewing attorney: Timothy Jones (202) 622-3980 CC: TEGE Agency Contact: Aviva M. Roth, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 4013, Washington, DC 20224 Phone: 202 622-3980 Email: aviva.m.roth@irscounsel. treas.gov RIN: 1545-BD04 _______________________________________________________________________ 2418. PUBLIC INSPECTION OF WRITTEN DETERMINATIONS UNDER SECTION 6110 OF THE INTERNAL REVENUE CODE (TEMPORARY) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 301 Legal Deadline: None Abstract: This temporary regulation replaces and updates the existing regulation to include procedures for the public availability of Chief Counsel advice. It also reflects changes to the organizational structure of the Internal Revenue Service and Office of Chief Counsel, changes to the Code, and technological advances related to the electronic availability of Internal Revenue Service documents to the public. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Temporary Regulations 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-113129-98 Drafting attorney: Deborah C. Lambert-Dean (202) 622-4570 Reviewing attorney: Donald Squires (202) 622-4570 Treasury attorney: Eric San Juan (202) 622-0224 CC:PA:DPL Agency Contact: Deborah C. Lambert-Dean, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4570 Related RIN: Related to 1545-AX40 RIN: 1545-BD09 _______________________________________________________________________ 2419. ESCROW ACCOUNTS, TRUSTS, AND OTHER FUNDS USED DURING DEFERRED EXCHANGES OF LIKE-KIND PROPERTY Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 468B(g) CFR Citation: 26 CFR 1; 26 CFR 602 Legal Deadline: None Abstract: These regulations provide rules under section 468B(g) regarding the taxation and reporting of the income earned on escrow accounts, trusts, and other funds used for deferred exchanges of like- kind property under section 1031(a)(3). The regulations affect qualified escrow accounts, qualified trusts, and other funds established in connection with deferred like-kind exchanges, and the taxpayers, escrowees, trustees, qualified intermediaries, and other parties who [[Page 23074]] receive the funds or establish, maintain, and administer the accounts. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 02/07/06 71 FR 6231 Hearing 02/07/06 71 FR 6233 Final Action 06/00/07 Regulatory Flexibility Analysis Required: Yes Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-113365-04 Drafting attorney: Jeffrey T. Rodrick (202) 622-4930 Reviewing attorney: Jeffrey G. Mitchell (202) 622-4930 Treasury attorney: Dennis Tingey (202) 622-1335 CC: ITA Agency Contact: Jeffrey T. Rodrick, General Attorney (Tax), Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-4930 Email: jeffrey.t.rodrick@irscounsel. treas.gov Related RIN: Split from 1545-AR82 RIN: 1545-BD19 _______________________________________________________________________ 2420. GUIDANCE ON PHASED RETIREMENT Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This guidance will lay out rules for establishing a bona fide phased retirement program. Generally, such a program would provide employees who are at or near eligibility for retirement with the opportunity for a reduced schedule and to receive a distribution of a proportionate share of their pension benefits based on their ``partial retirement.'' Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 11/10/04 69 FR 65108 NPRM Comment Period End 02/08/05 Final Rule 05/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-114726-04 Drafting attorney: Cathy A. Vohs (202) 622-6090 Reviewing attorney: Janet Laufer (202) 622-6090 Treasury attorney: William Bortz (202) 622-1352 CC: TEGE Agency Contact: Cathy A. Vohs, Assistant Branch Chief, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6090 Email: cathy.a.vohs@irscounsel. treas.gov RIN: 1545-BD23 _______________________________________________________________________ 2421. COORDINATION OF UNITED STATES AND CERTAIN POSSESSIONS INCOME TAXES (TEMPORARY) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1; 26 CFR 301 Legal Deadline: None Abstract: Internal Revenue Code section 7654 contains provisions for coordination of U.S. and certain possessions income taxes. Specifically, section 7654 provides for ``cover over'' of the net collection of taxes imposed under chapter 1 or deducted and withheld under chapter 24. Section 7654 of the Internal Revenue Code of 1986 provides specific rules for cover over with regard to the possessions American Samoa and the U.S. Virgin Islands. Section 7654 of the 1954 Code, as amended in 1972 by Public Law 92-606, provides specific rules for cover over with regard to the possessions. Guam and the Northern Mariana Islands (NMI). Section 7654 of the 1954 Code remains applicable to Guam and the NMI because neither of these two possessions has an effective implementing agreement with the United States, in accordance with the Tax Reform Act of 1986, Public Law 99- 514. The regulations will provide rules under both the 1954 Code and the 1986 Code versions of section 7654. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-139900-03 Drafting attorney: Javier G. Salinas (202) 435-5262 Reviewing attorney: Ricardo A. Cadenas (202) 435-5262 Treasury attorney: Gretchen Sierra (202) 622-1755 CC:INTL Agency Contact: Javier G. Salinas, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 435-5262 Related RIN: Related to 1545-BC54 RIN: 1545-BD32 _______________________________________________________________________ 2422. HIPAA PORTABILITY: SPECIAL ENROLLMENT PROCEDURES, TOLLING, AND INTERACTION WITH FMLA Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 9833 CFR Citation: 26 CFR 54 Legal Deadline: None Abstract: These regulations enhance the existing HIPAA portability regulations by tolling the running of certain time periods in certain circumstances, clarifying the procedures for requesting special enrollment, addressing how the HIPAA portability requirements apply to individuals taking leave under the Family and Medical Leave Act of 1993, and prescribing how to count the number of employees an employer has. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/30/04 69 FR 78800 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-130370-04 [[Page 23075]] Drafting attorney: Russell Weinheimer (202) 622-6080 Reviewing attorney: Alan Tawshunsky (202) 622-6000 Treasury attorney: Kevin Knopf (202) 622-2329 CC:TEGE Agency Contact: Russell Weinheimer, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6080 Related RIN: Related to 1545-AW02, Related to 1545-AX84 RIN: 1545-BD51 _______________________________________________________________________ 2423. GUIDANCE UNDER SECTION 1502; MISCELLANEOUS OPERATING RULES FOR SUCCESSOR PERSONS; SUCCESSION TO ITEMS OF THE LIQUIDATING CORPORATION Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 1502 CFR Citation: 26 CFR 1.1502-13; 26 CFR 1.1502-80 Legal Deadline: None Abstract: This regulation addresses certain issues related to complete liquidations when more than one group member owns stock of the liquidating corporation. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 02/22/05 70 FR 8552 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-131128-04 Drafting attorney: Amber Cook (202) 622-7530 Reviewing attorney: Marie Milnes-Vasquez (202) 622-7530 CC: COR Agency Contact: Amber R. Cook, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, Room 5411, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7530 RIN: 1545-BD54 _______________________________________________________________________ 2424. ASSET TRANSFERS FOLLOWING PUTATIVE REORGANIZATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation provides amendments to section 1.368-2. The amendments address the effect of transfers of the assets or the stock of parties to a reorganization pursuant to transactions intended to qualify as reorganizations within the meaning of section 368(a) of the Internal Revenue Code. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/18/04 69 FR 51209 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-130863-04 Drafting attorney: Mary W. Lyons (202) 622-7930 Reviewing attorney: Alfred C. Bishop, Jr. (202) 622-7930 CC: COR Agency Contact: Mary W. Lyons, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7930 RIN: 1545-BD56 _______________________________________________________________________ 2425. MANDATORY E-FILING FOR FORMS 1120 Priority: Substantive, Nonsignificant Legal Authority: 26 USC 6011(e); 26 USC 7805 CFR Citation: 26 CFR 1; 26 CFR 301 Legal Deadline: None Abstract: These regulations will provide that certain entities that file at least 250 information returns during the calendar year are required to file their income tax returns electronically. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/12/05 70 FR 2075 Final Action 12/00/07 Regulatory Flexibility Analysis Required: Yes Small Entities Affected: Businesses, Organizations Government Levels Affected: None Additional Information: REG-130671-04 Drafting attorney: Michael E. Hara (202) 622-4910 Reviewing attorneys: James Gibbons (202) 622-4910 and Carol Nachman (202) 622-4910 CC: PA: APJ Agency Contact: Michael E. Hara, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 5529, Washington, DC 20224 Phone: 202 622-7419 Fax: 202 927-9248 Email: michael.e.hara@irscounsel. treas.gov RIN: 1545-BD65 _______________________________________________________________________ 2426. SECTION 704(B)(2) AND SUBSTANTIALITY Priority: Substantive, Nonsignificant Legal Authority: 26 USC 704(b)(2); 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Clarify the substantiality rules under section 1.704- 1(b)(2)(iii) as to the impact of the tax consequences to owners or partners on the determination of substantiality. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 11/18/05 70 FR 69919 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-144620-04 Drafting attorneys: Tim Leska (202) 622-3050 Reviewing attorney: Beverly Katz (202) 622-3060 Treasury attorney: William Bowers (202) 622-5721 CC: PSI Agency Contact: Timothy J. Leska, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, [[Page 23076]] 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3050 Related RIN: Related to 1545-BB11 RIN: 1545-BD70 _______________________________________________________________________ 2427. SPECIAL RULES TO REDUCE SECTION 1446 WITHHOLDING Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 1446 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulations provide guidance for partnerships obligated to pay withholding tax under section 1446 of the Internal Revenue Code. Specifically, the regulations address the circumstances under which a partnership may reduce its withholding tax due based upon certifications of losses by foreign partners or when the partnership is in bankruptcy. The regulations will be effective for partnership taxable years beginning after the date the regulations are published in the Federal Register. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/18/05 70 FR 28743 Public Hearing - 10/03/2005 05/18/05 70 FR 28743 NPRM Comment Period End 08/16/05 Hearing Rescheduled: 11/16/2005 10/03/05 70 FR 57523 Final Action 12/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-148649-05 Drafting attorney: Ronald M. Gootzeit (202) 622-3860 Reviewing attorney: Charles P. Besecky (202) 622-3860 Treasury attorney: David Sotos (202) 622-0851 CC:INTL Agency Contact: Ronald M. Gootzeit, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3860 Related RIN: Related to 1545-AY28 RIN: 1545-BD80 _______________________________________________________________________ 2428. DYE INJECTION Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulations relate to the diesel fuel and kerosene excise tax and reflect changes made by the American Jobs Creation Act of 2004 (Act) regarding mechanical dye injection systems. Under the Act, diesel fuel and kerosene that are to be used in a nontaxable use must be indelibly dyed by use of a mechanical dye injection system that satisfies the requirements set forth in the regulations. The purpose of the regulations is to establish standards for tamper resistant mechanical injector dyeing that are reasonable, cost-effective, and set levels of security commensurate with the applicable facility. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/26/05 70 FR 21361 Final Action 04/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-154000-04 Drafting attorney: Deborah J. Karet (202) 622-3130 Reviewing attorneys: Frank K. Boland (202) 622-3130 and Curt G. Wilson (202) 622-3000 Treasury attorney: John Parcell (202) 622-2578 CC:PSI Agency Contact: Deborah J. Karet, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3130 Email: deborah.j.karet@irscounsel. treas.gov RIN: 1545-BE04 _______________________________________________________________________ 2429. DISCLOSURE OF RETURN INFORMATION TO THE BUREAU OF THE CENSUS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 6103(j); 26 USC 7805 CFR Citation: 26 CFR 301 Legal Deadline: None Abstract: Under section 6103(j)(1), upon written request from the Secretary of Commerce, the Secretary is to furnish to the Bureau of the Census (Bureau) return information that is prescribed by Treasury regulations for the purpose of, but only to the extent necessary in, structuring censuses and national economic accounts and conducting related statistical activities authorized by law. Section 301.6103(j)(1)-1 of these regulations further defines such purposes by reference to 13 U.S.C. chapter 5 and provides an itemized description of the return information authorized to be disclosed for such purposes. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 03/11/05 70 FR 12166 Final Action 03/00/08 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-147195-04 and REG-148864-03 Drafting attorney: Charles B. Christopher (202) 622-4580 Treasury atttorney: Eric San Juan (202) 622-0224 CC: PA: DPL Agency Contact: Charles B. Christopher, Branch Chief, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4580 Related RIN: Related to 1545-BC93, Related to 1545-BE02, Related to 1545-BE01 RIN: 1545-BE08 _______________________________________________________________________ 2430. ELIMINATION OF COUNTRY-BY-COUNTRY REPORTING TO SHAREHOLDERS OF FOREIGN TAXES PAID BY REGULATED INVESTMENT COMPANIES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 6031 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will generally eliminate country-by-country reporting to shareholders of foreign source income and foreign taxes paid by a [[Page 23077]] regulated investment company (RIC). An RIC will continue to report this information directly to the IRS. The regulations will affect certain RICs that pay foreign taxes and their shareholders. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/24/06 71 FR 54598 NPRM Comment Period End 12/18/06 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-105248-04 Drafting attorney: Susan T. Baker (202) 622-3930 Treasury attorneys: John Harrington (202) 622-0589 and Michael Novey (202) 622-1339 CC: FI Agency Contact: Susan T. Baker, Assistant to the Branch Chief, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3930 RIN: 1545-BE09 _______________________________________________________________________ 2431. CIRCULAR 230--COVERED OPINION AMENDMENTS Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 31 USC 330 CFR Citation: 31 CFR 10 Legal Deadline: None Abstract: These regulations propose amendments to the standards for tax opinions related to municipal bonds. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/20/04 69 FR 75887 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-159824-04 Drafting attorney: Matthew S. Cooper (202) 622-4940 Reviewing attorney: Richard Goldstein (202) 622-3900 Treasury attorney: Michael Desmond (202) 622-1981 CC: PA: APJ Agency Contact: Matthew S. Cooper, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 5135, Washington, DC 20224 Phone: 202 622-4940 Fax: 202 622-1585 Email: matthew.s.cooper@irscounsel. treas.gov Related RIN: Related to 1545-BA70 RIN: 1545-BE13 _______________________________________________________________________ 2432. CAPITALIZATION OF AMOUNTS PAID TO REPAIR OR IMPROVE TANGIBLE PROPERTY Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will clarify the extent to which taxpayers must capitalize expenditures to repair, improve, or rehabilitate tangible property. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/21/06 71 FR 48590 NPRM Comment Period End 11/20/06 Final Action 09/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-168745-03 Drafting attorney: Merrill D. Feldstein (202) 622-3887 Treasury attorney: Sharon Kay (202) 622-0865 CC: ITA Agency Contact: Merrill D. Feldstein, Senior Counsel, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3887 Fax: 202 622-4579 Email: merrill.d.feldstein@irscounsel. treas.gov RIN: 1545-BE18 _______________________________________________________________________ 2433. WITHHOLDING EXEMPTIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 3402; 26 USC 7805 CFR Citation: 26 CFR 31 Legal Deadline: None Abstract: These regulations provide guidance under section 3402(f) of the Internal Revenue Code for employers and employees relating to the Form W-4, ``Employee's Withholding Allowance Certificate.'' These regulations provide rules for the submission of copies of certain withholding exemption certificates to the IRS, the notification provided to the employer and the employee of the maximum number of withholding exemptions permitted, and the use of substitute forms. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/14/05 70 FR 19721 NPRM Comment Period End 07/05/05 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-162813-04 Drafting attorney: Ilya E. Enkishev (202) 622-0047 Reviewing attorney: Janine Cook (202) 622-0047 Treasury attorney: Kevin Knopf (202) 622-2329 CC: TEGE Agency Contact: Ilya E. Enkishev, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-0047 Email: ilya.e.enkishev@irscounsel. treas.gov Related RIN: Related to 1545-BE21 RIN: 1545-BE20 _______________________________________________________________________ 2434. SECTION 6011 REGULATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 6011; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These regulations are an update to the taxpayer disclosure [[Page 23078]] regulations for reportable transactions under section 1.6011-4. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 11/02/06 71 FR 64488 NPRM Comment Period End 01/31/07 Public Hearing - March 20, 2007 02/15/07 72 FR 7360 Final Action 11/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-103038-05 Drafting attorney: Charles D. Wien (202) 622-3070 Reviewing attorney: Christine Ellison (202) 622-3080 Treasury attorney: Anita Soucy (202) 622-1766 CC: PSI Agency Contact: Charles D. Wien, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-3070 Email: charles.d.wien@irscounsel. treas.gov Related RIN: Related to 1545-BE25 RIN: 1545-BE24 _______________________________________________________________________ 2435. SECTION 6111 REGULATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 6111; 26 USC 7805 CFR Citation: 26 CFR 301 Legal Deadline: None Abstract: These regulations are for section 6111, as revised under the American Jobs Creation Act of 2004, which will provide the rules for material advisors regarding disclosure of reportable transactions. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 11/02/06 71 FR 64496 NPRM Comment Period End 01/31/07 Public Hearing - March 20, 2007 02/15/07 72 FR 7360 Final Action 11/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-103039-05 Drafting attorney: Charles D. Wien (202) 622-3070 Reviewing attorney: Christine Ellison (202) 622-3080 Treasury attorney: Anita Soucy (202) 622-1766 CC:PSI Agency Contact: Charles D. Wien, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-3070 Email: charles.d.wien@irscounsel. treas.gov Related RIN: Related to 1545-BE27 RIN: 1545-BE26 _______________________________________________________________________ 2436. SECTION 6112 REGULATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 6112; 26 USC 7805 CFR Citation: 26 CFR 301 Legal Deadline: None Abstract: The regulations are an update to the list maintenance regulations under section 6112 to take into account changes to the statute made in the ``American Jobs Creation Act of 2004.'' Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 11/02/06 71 FR 64501 NPRM Comment Period End 01/31/07 Public Hearing - March 20, 2007 02/15/07 72 FR 7361 Final Action 11/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-103043-05 Drafting attorney: Charles D. Wien (202) 622-3070 Reviewing attorney: Christine Ellison (202) 622-3080 Treasury attorney: Anita Soucy (202) 622-1766 CC: PSI Agency Contact: Charles D. Wien, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-3070 Email: charles.d.wien@irscounsel. treas.gov Related RIN: Related to 1545-BE29 RIN: 1545-BE28 _______________________________________________________________________ 2437. GUIDANCE UNDER SUBPART F RELATING TO PARTNERSHIPS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These proposed regulations provide guidance for determining that a CFC's distributive share of partnership income will qualify for the exception contained in section 954(i). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/17/06 71 FR 2496 NPRM Comment Period End 04/17/06 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-106418-05 Drafting attorney: Kate Y. Hwa (202) 622-3840 Reviewing attorney: Phyllis E. Marcus (202) 622-3840 Treasury attorney: John Harrington (202) 622-0589 CC: INTL Agency Contact: Kate Y. Hwa, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3840 RIN: 1545-BE34 _______________________________________________________________________ 2438. FARMER AND FISHERMAN INCOME AVERAGING UNDER THE AMERICAN JOBS CREATION ACT OF 2004 (AJCA) (TEMPORARY) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 1301; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The project will amend the farm income averaging regulations under section 1.1301-1 to include the concept of fishing business. [[Page 23079]] Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Temporary Regulation 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-161695-04 Drafting attorney: Amy J. Pfalzgraf (202) 622-4960 Treasury attorney: John Parcell (202) 622-2578 CC: ITA Agency Contact: Amy J. Pfalzgraf, Senior Counsel, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4960 Email: amy.f.pfalzgraf@irscounsel. treas.gov Related RIN: Related to 1545-BE23 RIN: 1545-BE39 _______________________________________________________________________ 2439. DISREGARDED ENTITIES AND COLLECTIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 301 Legal Deadline: None Abstract: Amending the regulations governing disregarded entities so that certain State law entities that currently are disregarded for all Federal tax purposes will be treated as entities separate from their owners in collecting and administering Federal employment and certain excise taxes. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 10/18/05 70 FR 60475 NPRM Comment Period End 01/17/06 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: Undetermined Additional Information: REG-114371-05 Drafting attorney: Brenda Mallinak (202) 622-3070 Reviewing attorney: Mary Beth Collins (202) 622-3070 Treasury attorney: William Bowers (202) 622-5721 CC: PSI Agency Contact: Brenda Mallinak, General Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-3070 RIN: 1545-BE43 _______________________________________________________________________ 2440. BALANCED SYSTEM FOR MEASURING ORGANIZATIONAL AND EMPLOYEE PERFORMANCE WITHIN THE INTERNAL REVENUE SERVICE Priority: Substantive, Nonsignificant Legal Authority: 5 USC 9501; 26 USC 7804; PL 105-206, sec 1201; PL 105- 206, sec 1204; 26 USC 7805; CFR Citation: 26 CFR 801 Legal Deadline: None Abstract: The IRS will issue a notice of proposed rulemaking to accompany temporary regulations amending 26 CFR part 801 to remove limitations on use of quantity measures in measuring and evaluating organizational and employee performance, and to add examples of proper use of quantity measures and records of tax enforcement results. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 10/17/05 70 FR 60256 Interim Final Rule completed by TD 9227 10/17/05 70 FR 60214 NPRM Comment Period End 12/16/05 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Federal Additional Information: REG-114444-05 Drafting attorney: Karen F. Keller (202) 283-7900 Reviewing attorney: Neil B. Worden (202) 283-7900 Treasury attorney: Michael Desmond (202) 622-1981 CC: GLS: CL Agency Contact: Karen F. Keller, Senior Counsel, Department of the Treasury, Internal Revenue Service, 950 L'Enfant Plaza, SW, 2nd Floor, Washington, DC 20024 Phone: 202 283-7900 Email: karen.f.keller@irscounsel. treas.gov Related RIN: Related to 1545-BE46 RIN: 1545-BE45 _______________________________________________________________________ 2441. INFORMATION RETURNS REQUIRED WITH RESPECT TO CERTAIN FOREIGN CORPORATIONS AND OTHER CONFORMING CHANGES Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will provide guidance regarding accounting methods and penalties under section 6038. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/21/06 71 FR 35592 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-109512-05 Drafting attorney: Kate Y. Hwa (202) 622-3840 Reviewing attorney: Phyllis Marcus (202) 622-3840 Treasury attorney: John Harrington (202) 622-0589 CC:INTL Agency Contact: Kate Y. Hwa, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3840 RIN: 1545-BE47 _______________________________________________________________________ 2442. LIMITATION ON TRANSFER OF BUILT-IN LOSSES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 362(e); 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will provide guidance for applying 26 U.S.C. 362(e)(2). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 10/23/06 71 FR 62067 [[Page 23080]] NPRM Comment Period End 01/22/07 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-110405-05 Drafting attorney: Joanne M. Fay (202) 622-8877 Reviewing attorney: Filiz Serbes (202) 622-3703 Treasury attorney: Marc Countryman (202) 622-9858 CC: COR Agency Contact: Joanne M. Fay, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-8877 Email: joanne.m.fay@irscounsel. treas.gov Related RIN: Related to 1545-BE59 RIN: 1545-BE58 _______________________________________________________________________ 2443. CONVERTING AN IRA ANNUITY TO A ROTH IRA Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Unfunded Mandates: Undetermined Legal Authority: 26 USC 7805 CFR Citation: Not Yet Determined Legal Deadline: None Abstract: The temporary regulations provide guidance concerning the tax consequences of converting a non-Roth IRA annuity to a Roth IRA. The regulations affect individuals establishing Roth IRAs, beneficiaries under Roth IRAs, trustees, custodians and issuers of Roth IRAs. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/22/05 70 FR 48924 NPRM Comment Period End 11/21/05 Final Action 12/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-122857-05 Drafting attorney: Cathy A. Vohs (202) 622-6090 Reviewing attorney: Marjorie Hoffman (202) 622-6030 Treasury attorney: Harlan Weller (202) 622-1001 CC: TEGE Agency Contact: Cathy A. Vohs, Assistant Branch Chief, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6090 Email: cathy.a.vohs@irscounsel. treas.gov Related RIN: Related to 1545-BE66 RIN: 1545-BE65 _______________________________________________________________________ 2444. ASSUMPTION OF LIABILITIES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Special rules for assumption of liabilities. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/26/05 70 FR 30380 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-106736-00 Drafting attorney: Douglas Bates (202) 622-7550 Reviewing attorney: T. Ian Russell (202) 622-7550 CC: COR Agency Contact: Douglas C. Bates, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7550 Fax: 202 622-4111 Email: douglas.c.bates@irscounsel. treas.gov Related RIN: Related to 1545-AX93 RIN: 1545-BE67 _______________________________________________________________________ 2445. LIFE/NON-LIFE TACKING RULE Priority: Substantive, Nonsignificant Legal Authority: 26 USC 1502; 26 USC 7805; 26 USC 1503(c); 26 USC 1504(c) CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The proposed regulations address the tacking rule requirement relating to the separation of profit and loss activities. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/25/06 71 FR 23882 TEMP 04/25/06 71 FR 23856 NPRM Comment Period End 07/24/06 Final Action 05/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-133036-05 Drafting attorney: Ross E. Poulsen (202) 622-7770 CC: COR Agency Contact: Ross E. Poulsen, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7770 RIN: 1545-BE85 _______________________________________________________________________ 2446. TREATMENT OF EXCESS LOSS ACCOUNTS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 1502 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These regulations provide rules for allocation of basis of member stock in connection with certain intragroup transactions. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/26/06 71 FR 4319 NPRM Comment Period End 04/26/06 Final Action 07/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None [[Page 23081]] Additional Information: REG-138879-05 Drafting attorney: Theresa M. Kolish (202) 622-7530 Reviewing attorney: Lewis K. Brickates (202) 622-7530 CC: COR Agency Contact: Theresa M. Kolish, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 5408, Washington, DC 20224 Phone: 202 622-7530 Fax: 202 622-7556 Email: theresa.m.kolish@irscounsel. treas.gov RIN: 1545-BE87 _______________________________________________________________________ 2447. RAILROAD TRACK MAINTENANCE CREDIT Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These regulations provide guidance on claiming the railroad track maintenance credit under section 45G of the Internal Revenue Code. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/08/06 71 FR 53052 NPRM Comment Period End 12/08/06 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-142270-05 Drafting attorney: Winston H. Douglas (202) 622-3110 Reviewing attorney: Kathleen Reed (202) 622-3110 Treasury attorney: Sharon Kay (202) 622-0865 CC: PSI Agency Contact: Winston H. Douglas, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3110 Email: winston.h.douglas@irscounsel. treas.gov Related RIN: Related to 1545-BE91 RIN: 1545-BE90 _______________________________________________________________________ 2448. GUIDANCE UNDER SECTION 7874 FOR DETERMINING OWNERSHIP BY FORMER SHAREHOLDERS OR PARTNERS OF DOMESTIC ENTITIES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 7874 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will provide guidance under section 7874(c)(2). Section 7874(a)(2)(B) provides that a foreign corporation will be a surrogate foreign corporation, if among other requirements, 60 percent of the stock of the entity is owned by former shareholders or partners of the domestic entity by reason of their holding an interest in the domestic entity. Section 7874(c)(2) states that in determining ownership under section 7874(a)(2)(B)(ii) stock held by members of the expanded affiliated group is disregarded. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/28/05 70 FR 76732 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-143244-05 Drafting attorney: John J. Merrick (202) 622-3810 Reviewing attorney: Milton Cahn (202) 622-3810 CC: INTL Agency Contact: John J. Merrick, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3810 Related RIN: Related to 1545-BE94 RIN: 1545-BE93 _______________________________________________________________________ 2449. CAPITAL COSTS INCURRED TO COMPLY WITH EPA SULFUR REGULATIONS (TEMPORARY) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation provides guidance under section 179B of the Internal Revenue Code relating to EPA sulfur. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Temporary Regulation 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-143453-05 Drafting attorney: Douglas Kim (202) 622-3110 Reviewing attorney: Kathleen Reed (202) 622-3110 Treasury attorney: John Parcell (202) 622-2578 CC: PSI Agency Contact: Douglas Kim, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3110 Related RIN: Related to 1545-BE96 RIN: 1545-BE97 _______________________________________________________________________ 2450. APPLICATION OF SECTION 338 TO INSURANCE COMPANIES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 338; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The proposed regulations dealing with guidance of selected issues concerning the application of section 338 to insurance companies. These rules will address the determination of the amount of the ceding commission required to be capitalized under section 848 and amortized under section 197 in connection with the deemed asset sale, and the effect of reserve increases by new target after the deemed asset sale. These rules will be incorporated by reference in final regulations, and will be issued concurrently with those final regulations (RIN 1545-AY49). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/10/06 71 FR 18053 NPRM Comment Period End 07/10/06 Final Action 12/00/07 [[Page 23082]] Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-146384-05 Drafting attorney: Mark J. Weiss (202) 622-7790 Treasury attorney: Marc Countryman (202) 622-9858 CC: COR Agency Contact: Mark J. Weiss, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7790 Related RIN: Related to 1545-AY49 RIN: 1545-BF02 _______________________________________________________________________ 2451. DESIGNATED ROTH ACCOUNTS UNDER SECTION 402A Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: Not Yet Determined Legal Deadline: None Abstract: Taxation of distributions from designated Roth accounts in qualified cash or deferred arrangements under IRC 401(K). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/26/06 71 FR 4320 NPRM Comment Period End 04/26/06 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: Undetermined Additional Information: REG-146459-05 Drafting attorney: Cathy A. Vohs (202) 622-6090 Reviewing attorney: Lisa Mojiri-Azad (202) 622-6090 Treasury attorney: Harlan Weller (202) 622-1001 CC:TEGE Agency Contact: Cathy A. Vohs, Assistant Branch Chief, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6090 Email: cathy.a.vohs@irscounsel. treas.gov Related RIN: Related to 1545-BF05 RIN: 1545-BF04 _______________________________________________________________________ 2452. ELECTION TO EXPENSE CERTAIN REFINERIES (TEMPORARY) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 179C CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Provide guidance under section 179C of the Internal Revenue Code. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Temporary Regulation 04/00/07 Regulatory Flexibility Analysis Required: Undetermined Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-146895-05 Drafting attorney: Ruba Nasrallah (202) 622-3110 Reviewing attorney: Kathleen Reed (202) 622-3110 Drafting attorney: John Parcell (202) 622-2578 CC: PSI Agency Contact: Ruba Nasrallah, General Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-3110 Related RIN: Related to 1545-BF05 RIN: 1545-BF06 _______________________________________________________________________ 2453. NUCLEAR DECOMMISSIONING COSTS (TEMPORARY) Priority: Substantive, Nonsignificant Legal Authority: Not Yet Determined CFR Citation: Not Yet Determined Legal Deadline: None Abstract: Temporary regulations under the Energy Tax Incentives Act of 2005 concerning nuclear decommissioning costs. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Temporary Regulations 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-147290-05 Drafting attorney: Bernard P. Harvey (202) 622-3110 Reviewing attorney: Peter C. Friedman (202) 622-3110 Treasury attorney: John Parcell (202) 622-2578 CC: PSI Agency Contact: Bernard P. Harvey III, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3110 Related RIN: Related to 1545-BF08 RIN: 1545-BF09 _______________________________________________________________________ 2454. CHARITABLE CONTRIBUTIONS OF CERTAIN MOTOR VEHICLES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 170 (f)(12); 26 USC 6720 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulations will clarify the rules for determining the fair market value of a vehicle contributed to charity. The regulations will provide rules for implementing the new laws, which govern the requirements for claiming a charitable contribution deduction for a donated vehicle, and impose penalties under certain circumstances on donee organizations (26 USC 170(f)(12) and 6720). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Temporary Regulations 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses, Organizations Government Levels Affected: None Additional Information: REG-143755-05 Drafting attorney: Patricia M. Zweibel (202) 622-5020 Reviewing attorney: Karin Gross (202) 622-5020 Treasury attorney: Eric San Juan (202) 622-0224 [[Page 23083]] CC: ITA Agency Contact: Patricia Zweibel, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW., Washington, DC 20224 Phone: 202 622-5020 Related RIN: Related to 1545-BF29 RIN: 1545-BF10 _______________________________________________________________________ 2455. CLEAN RENEWABLE ENERGY BONDS (TEMPORARY) Priority: Substantive, Nonsignificant Legal Authority: PL 109-58, sec 1303(d); 26 USC 54 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Section 54 of the Code allows certain specified entities to issue Clean Renewable Energy Bonds. Taxpayers who purchase these bonds are entitled to a credit against income tax in lieu of receiving interest payments from the Clean Renewable Energy Bond issuers. These regulations explain the requirements for issuing the bonds and for claiming the tax credit. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Temporary Regulation 07/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: Local, State, Tribal Additional Information: REG-148071-05 Drafting attorney: Aviva M. Roth (202) 622-3980 Reviewing attorney: Timothy L. Jones (202) 622-1380 Treasury attorney: John Cross (202) 622-1322 CC: TEGE Agency Contact: Aviva M. Roth, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 4013, Washington, DC 20224 Phone: 202 622-3980 Email: aviva.m.roth@irscounsel. treas.gov Related RIN: Related to 1545-BF11 RIN: 1545-BF12 _______________________________________________________________________ 2456. RULES UNDER SECTION 302 OF THE KATRINA EMERGENCY TAX RELIEF ACT OF 2005 Priority: Substantive, Nonsignificant Legal Authority: PL 109-73, sec 302; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will provide rules relating to the $500 deduction from taxable income allowed under section 302 of the Katrina Emergency Tax Relief Act of 2005 (KETRA) to individuals for housing a Hurricane Katrina displaced individual. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/12/06 71 FR 74482 Interim Final Rule completed by TD 9301 12/12/06 71 FR 74467 NPRM Comment Period End 03/12/07 Final Action 12/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-152043-05 Drafting attorney: Marnette M. Myers (202) 622-4920 Reviewing attorney: Michael J. Montemurro (202) 622-4920 Treasury attorney: Eric San Juan (202) 622-0224 CC: ITA Agency Contact: Marnette M. Myers, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Ave NW, Washington, DC 20224 Phone: 202 622-4920 Related RIN: Related to 1545-BF89 RIN: 1545-BF14 _______________________________________________________________________ 2457. REVISION OF TREASURY REGULATION SECTION 1.1561-3 TO COMPLY WITH COMMISSIONER'S E-FILE PROGRAM AND WITH THE RECOMMENDATIONS OF TIGTA REPORT Priority: Info./Admin./Other Legal Authority: 26 USC 1561; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These temporary regulations simplify, clarify, or eliminate reporting burdens. These regulations also eliminate regulatory impediments to the electronic filing of certain statements that taxpayers are required to include on or with their Federal income tax returns. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/30/06 71 FR 30640 Interim Final Rule Completed by TD 9264 06/30/06 71 FR 30591 NPRM Comment Period End 08/28/06 Final Action 07/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-134317-05 Drafting attorney: Grid R. Glyer (202) 622-7930 Reviewing attorney: Steve Hankin (202) 622-7930 CC: COR Agency Contact: Grid R. Glyer, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7324 Fax: 202 622-6298 Email: grid.r.glyer@irscounsel.treas.gov RIN: 1545-BF16 _______________________________________________________________________ 2458. CREDIT FOR PRODUCTION FROM ADVANCED NUCLEAR POWER FACILITIES (TEMPORARY) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 45J CFR Citation: Not Yet Determined Legal Deadline: None Abstract: Temporary regulations will provide guidance for implementation of new section 45J; in particular, regulations will provide a certification process for approval and allocation of the National Megawatt Limitation. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Temporary Regulation 06/00/07 Regulatory Flexibility Analysis Required: No [[Page 23084]] Small Entities Affected: No Government Levels Affected: Undetermined Additional Information: REG-157616-05 Drafting attorney: Patrick S. Kirwan (202) 622-3110 Reviewing attorney: Peter Friedman (202) 622-3110 Treasury attorney: John Parcell (202) 622-2578 CC:PSI Agency Contact: Patrick S. Kirwan, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3110 Email: patrick.s.kirwan@irscounsel. treas.gov Related RIN: Related to 1545-BF19 RIN: 1545-BF20 _______________________________________________________________________ 2459. SUBCHAPTER S BANKS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 1363; 26 USC 7805 CFR Citation: None Legal Deadline: None Abstract: Application of special bank rules under section 1363 to S corporation and QSub banks. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/18/06 71 FR 50007 NPRM Comment Period End 11/22/06 Final Action 04/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-158677-05 Drafting attorney: Laura C. Fields (202) 622-3050 Reviewing attorney: Dianna K. Miosi (202) 622-3050 Treasury attorneys: Michael Novey (202) 622-1339 and William Bowers (202) 622-5721 CC: PSI Agency Contact: Laura C. Fields, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3050 RIN: 1545-BF24 _______________________________________________________________________ 2460. SECTION 3121(A)(5)(D) REGULATION (SALARY REDUCTION AGREEMENT) (TEMPORARY) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 6302 CFR Citation: 26 CFR 31 Legal Deadline: None Abstract: The temporary regulation defines the term ``salary reduction agreement'' within the meaning of section 3121(a)(5)(D) as a plan or arrangement whereby payment will be made by an employer to an annuity described in section 403(b) if an employee elects to reduce his compensation or if an employee agrees as a condition of employment to make a mandatory contribution that reduces his compensation. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Governmental Jurisdictions, Organizations Government Levels Affected: Local, State Additional Information: REG-155608-02 Drafting attorney: Neil D. Shephard (202) 622-6040 Reviewing attorney: Lynne A. Camillo (202) 622-6040 CC:TEGE Agency Contact: Neil D. Shepherd, Senior Counsel, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6040 Email: neil.d.shepherd@irscounsel. treas.gov Related RIN: Previously reported as 1545-BB64 RIN: 1545-BF35 _______________________________________________________________________ 2461. FAILURE TO MAINTAIN LIST OF ADVISEES WITH RESPECT TO REPORTABLE TRANSACTIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 301.6708-1T Legal Deadline: None Abstract: Temporary regulation regarding the penalty imposed under section 6708 for a person required to maintain a list under section 6112 who fails to make the list available upon the request of the Secretary. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 12/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-160873-04 Drafting attorney: Lawrence E. Mack (202) 622-4940 Reviewing attorney: Nancy M. Galib (202) 622-8523 CC: PA: APJ Agency Contact: Lawrence E. Mack, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW., Washington, DC 20224 Phone: 202 622-4940 Email: lawrence.e.mack@irscounsel. treas.gov RIN: 1545-BF38 _______________________________________________________________________ 2462. ACCURACY-RELATED PENALTIES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 6662A; 26 USC 6662; 26 USC 6664; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Temporary regulations regarding the new provisions and amendments made to code sections 6662, 6662A, and 6664 by the American Jobs Creation Act of 2004 and the Gulf Opportunity Zone Act of 2005. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Temporary Regulations 07/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-160870-04 Drafting attorney: Laura R. Urich (202) 622-4940 [[Page 23085]] Reviewing attorney: Ashton P. Trice (202) 622-4940 Treasury attorney: Mike Desmond (202) 622-1981 CC: PA: APJ Agency Contact: Laura Rebecca Urich, Attorney Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4940 Fax: 202 622-1585 Email: laura.r.urich@irscounsel. treas.gov RIN: 1545-BF41 _______________________________________________________________________ 2463. REGULATIONS UNDER SECTIONS 501(C)(3) AND 4958 ON REVOCATION STANDARDS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1.501(c)(3)-1(d)(1)(ii)(a); 26 CFR 1.501(c)(3)- 1(g); 26 CFR 53.4958-2(a)(6) Legal Deadline: None Abstract: Final regulations will clarify the substantive requirements for tax exemption under section 501(c)(3) and the relationship between those requirements and the imposition of excise taxes under section 4958. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Rule 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-111244-05 Drafting attorney: Galina V. Kolomietz (202) 622-6070 Reviewing attorney: Paul Accettura (202) 622-8464 Treasury attorneys: Eric San Juan (202) 622-0224 and Susan Brown (202) 622-0999 CC: TEGE Agency Contact: Galina V. Kolomietz, General Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 4408, Washington, DC 20024 Phone: 202 622-6070 Fax: 202 622-1036 RIN: 1545-BF44 _______________________________________________________________________ 2464. APPLICATION OF SEPARATE LIMITATIONS TO DIVIDENDS FROM NONCONTROLLED SECTION 902 CORPORATION (TEMPORARY) Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 7805; 26 USC 904(d)(6) CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The American Jobs Creation Act of 2004 amended the foreign tax credit limitation rules under section 904(d) and extended lookthrough treatment to dividends paid by a 10/50 lookthrough corporation, generally effective retroactively for tax years beginning after December 31, 2002. The Gulf Opportunity Zone Act of 2005 permits taxpayers to elect to defer the effective date of the AJCA amendments to tax years beginning after December 31, 2004. These regulations would provide guidance needed to comply with these changes, including transition rules for dividends paid by a 10/50 lookthrough corporation. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/25/06 71 FR 24516 NPRM Comment Period End 07/24/06 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-144784-02 Drafting attorney: Ginny Y. Chung (202) 622-3850 Reviewing attorney: Barbara Felker (202) 622-3850 CC: INTL Agency Contact: Ginny Y. Chung, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3850 Related RIN: Related to 1545-BB28 RIN: 1545-BF46 _______________________________________________________________________ 2465. SPECIAL RULES UNDER SECTION 7874 Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 7805; 26 USC 7874 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will provide special rules amplifying the provisions of section 7874. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/06/06 71 FR 32495 NPRM Comment Period End 09/05/06 Public Hearing 10/24/06 71 FR 32495 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-112994-06 Drafting attorney: Milton M. Cahn (202) 622-3860 Reviewing attorney: Charles P. Besecky (202) 622-3860 CC:INTL Agency Contact: Milton M. Cahn, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3860 RIN: 1545-BF47 _______________________________________________________________________ 2466. SECTION 1221(A)(4) CAPITAL ASSET EXCLUSION FOR ACCOUNTS AND NOTES RECEIVABLE Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This final rule will clarify when accounts or notes receivable are treated as acquired for services rendered within the meaning of IRC section 1221(a)(4). The notice of proposed rulemaking would provide than an account or note receivable is not described in section 1221(a)(4) if, in exchange for the account or note receivable, the taxpayer provides more than de minimis consideration other [[Page 23086]] than services and property described in section 1221(a)(1) or the account or note receivable is issued by someone other than the party acquiring the services or property described in section 1221(a)(1). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/07/06 71 FR 40600 NPRM Comment Period End 11/06/06 Final Action 07/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-109367-06 Drafting attorney: Kevin S. Brown (202) 622-3920 Reviewing attorneys: Patrick E. White (202) 622-4329 and Dale Collinson (202) 622-4502 Treasury attorney: Michael Novey (202) 622-1339 CC: FI Agency Contact: Kevin Scott Brown, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 3539, Financial Institutions and Products, Branch 1, Washington, DC 20224 Phone: 202 622-3920 RIN: 1545-BF52 _______________________________________________________________________ 2467. SECTION 6707 AND THE FAILURE TO FURNISH INFORMATION REGARDING REPORTABLE TRANSACTIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 301.6707-1; 26 CFR 1.6091-1 Legal Deadline: None Abstract: Temporary regulations regarding the imposition of penalities under section 6707 of the Internal Revenue Code on material advisors who fail to file a return under section 6111(a) or file false or incomplete information with respect to a reportable transaction. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-160872-04 Drafting attorney: Matthew S. Cooper (202) 622-4940 Reviewing attorney: Ashton Trice (202) 622-4940 CC: PA: APJ Agency Contact: Matthew S. Cooper, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 5135, Washington, DC 20224 Phone: 202 622-4940 Fax: 202 622-1585 Email: matthew.s.cooper@irscounsel. treas.gov RIN: 1545-BF60 _______________________________________________________________________ 2468. SECTION 6707A AND THE FAILURE TO INCLUDE ON ANY RETURN OR STATEMENT ANY INFORMATION REQUIRED TO BE DISCLOSED UNDER SECTION 6011 WITH RESPECT TO A REPORTABLE TRANSACTION Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 301.6707-1 Legal Deadline: None Abstract: Temporary regulations regarding the imposition of penalties under section 6707A of the Internal Revenue Code for the failure to include on any return or statement any information required to be disclosed under section 6011 with respect to a reportable transaction. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 07/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-160868-04 Drafting attorney: Dillon J. Taylor (202) 622-4940 Reviewing attorney: Ashton Trice (202) 622-4940 CC: PA: APJ Agency Contact: Dillon Taylor, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 5127, Washington, DC 20224 Phone: 202 622-4940 Fax: 202 622-1585 Email: dillon.j.taylor@irscounsel. treas.gov Related RIN: Related to 1545-BF61 RIN: 1545-BF62 _______________________________________________________________________ 2469. CLARIFICATION OF SECTION 6411 REGULATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 6411 CFR Citation: 26 CFR 1.6411-2T; 26 CFR 1.6411-3T Legal Deadline: None Abstract: These temporary regulations clarify that, after being computed under the terms of the section 1.6411-2 regulations, a tentative carryback adjustment may be reduced under section 1.6411-3 by unassessed amounts. In order to account for the IRS' current organizational structure, the proposed regulations removes the titles district director and service center director throughout. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-118886-06 Drafting attorney: Cynthia A. McGreevy (202) 622-4910 Reviewing attorneys: Pamela Fuller (202) 622-3600 and Curtis Wilson (202) 622-7800 Treasury attorney: Michael Desmond (202) 622-1981 CC: PA: APJ Agency Contact: Cynthia A. McGreevy, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4910 Fax: 202 927-9248 Email: cynthia.a.mcgreevy@irscounsel. treas.gov RIN: 1545-BF66 [[Page 23087]] _______________________________________________________________________ 2470. DETERMINATION OF INTEREST EXPENSE DEDUCTION OF FOREIGN CORPORATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 882 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These rules provide the allocation of interest expense of foreign corporations to income effectively connected with a trade or business within the United States, and coordination with the branch profits tax and income tax treaties. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/17/06 71 FR 47459 NPRM Comment Period End 11/15/06 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-120509-06 Drafting attorney: Gregory A. Spring (202) 622-3870 Reviewing attorney: Paul S. Epstein (202) 622-3870 Treasury attorney: Jesse Eggert (202) 622-1540 CC:INTL Agency Contact: Gregory A. Spring, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3870 Related RIN: Related to 1545-BF70 RIN: 1545-BF71 _______________________________________________________________________ 2471. DEFINITION OF TAXPAYER FOR PURPOSES OF SECTION 901 AND RELATED MATTERS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The application of existing Treas. Reg. section 1.901-2(f) is unclear in certain circumstances, including circumstances in which foreign law permits foreign corporations to determine their taxable income and tax liability on a combined basis. Amendments are needed to clarify the application of Treas. Reg. section 1.901-2 in such circumstances. In some cases, such as cases involving reverse hybrid entities, the application of existing Treas. Reg. section 1.901-2(f) reaches inappropriate results. Amendments are needed to change the results in such cases. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/04/06 71 FR 44240 NPRM Comment Period End 10/03/06 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-124152-06 Drafting Attorney: Bethany Ingwalson (202) 622-3850 Reviewing Attorney: Barbara Felker (202) 622-3850 CC:INTL Agency Contact: Bethany Ingwalson, Senior Counsel, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3850 RIN: 1545-BF73 _______________________________________________________________________ 2472. TAX INCREASE PREVENTION AND RECONCILIATION ACT OF 2005 AMENDMENTS TO SECTION 199 Priority: Substantive, Nonsignificant Legal Authority: 26 USC 199; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Proposed regulations involving changes made by the Tax Increase Prevention and Reconciliation Act of 2005 to the definition of W-2 wages and partnership allocations of W-2 wages. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 10/19/06 71 FR 61692 NPRM Comment Period End 01/17/07 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: Undetermined Additional Information: REG-127819-06 Drafting attorney: Lauren R. Taylor (202) 622-3040 Reviewing attorney: Paul Handleman (202) 622-3040 Treasury attorney: Sharon Kay (202) 622-0865 CC: PSI Agency Contact: Lauren R. Taylor, General Attorney (Tax), Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 5111, Washington, DC 20224 Phone: 202 622-3040 Fax: 202 622-4753 Email: lauren.r.taylor@irscounsel. treas.gov RIN: 1545-BF79 _______________________________________________________________________ 2473. RETURN REQUIRED BY SUBCHAPTER T COOPERATIVES UNDER SECTION 6012 Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR part 1 Legal Deadline: None Abstract: This regulation will prescribe the form that cooperatives must use to file their income tax returns. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action 07/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-149436-04 Drafting attorney: Matthew P. Howard (202) 622-4910 Reviewing attorney: James C. Gibbons (202) 622-4910 CC: PA: APJ Agency Contact: Matthew P. Howard, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 5533, Washington, DC 20024 Phone: 202 622-4910 RIN: 1545-BF82 _______________________________________________________________________ 2474. GUIDANCE REGARDING SCOPE OF SECTION 368(A)(1)(D) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: Not Yet Determined [[Page 23088]] Legal Deadline: None Abstract: The IRS is issuing temporary regulations relating to the distribution requirement under sections 368(a)(1)(D) and 354(b)(1)(B). The text of the regulations also serves as the text of proposed regulations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/19/06 71 FR 75898 NPRM Comment Period End 03/19/07 Final Action 12/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-125632-06 Drafting attorney: Bruce Decker (202) 622-8039 Reviewing attorney: Lisa Fuller (202) 622-7152 Treasury attorney: Marc Countryman (202) 622-9858 CC: COR Agency Contact: Bruce Decker, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-8039 Fax: 202 622-4111 Email: bruce.a.decker@irscounsel. treas.gov RIN: 1545-BF83 _______________________________________________________________________ 2475. SOURCE RULES INVOLVING U.S. POSSESSIONS AND OTHER CONFORMING CHANGES Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 937(b); 26 USC 7654(e); 26 USC 7805 CFR Citation: 26 CFR 1.931-1; 26 CFR 1.932-1; 26 CFR 1.933-1; 26 CFR 1.934-1; 26 CFR 1.935-1; 26 CFR 1.937-2; 26 CFR 1.937-3 Legal Deadline: None Abstract: The section 937 regulations provide rules for determining when income is considered to be from sources within a U.S. possession and whether income is effectively connected with the conduct of a trade or business within a U.S. possession. Regulations under sections 931 through 935 provide rules relating to specific U.S. possessions. In addition, these regulations will make conforming changes to regulations under related sections concerning or cross-referencing the possessions provisions. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-133712-06 Drafting attorney: John David Varley (202) 435-5165 Reviewing attorney: Douglas Giblen (202) 435-5146 Treasury attorney: Gretchen Sierra (202) 622-1755 CC: INTL Agency Contact: John David Varley, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 435-5262 Related RIN: Related to 1545-BC86, Related to 1545-BE22 RIN: 1545-BF85 _______________________________________________________________________ 2476. SECTION 181--DEDUCTION FOR QUALIFIED FILM AND TELEVISION PRODUCTION COSTS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: None Legal Deadline: None Abstract: Further guidance under section 181. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 02/09/07 72 FR 6190 NPRM Comment Period End 04/10/07 Final Action 12/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-115403-05 Drafting attorney: Bernard P. Harvey (202) 622-3110 Reviewing attorney: Charles B. Ramsey (202) 622-3110 Treasury attorney: Dennis Tingey (202) 622-1335 CC: PSI Agency Contact: Bernard P. Harvey III, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3110 Related RIN: Related to 1545-BF95 RIN: 1545-BF94 _______________________________________________________________________ 2477. [bull] EMPLOYER COMPARABLE CONTRIBUTIONS TO HEALTH SAVINGS ACCOUNTS (HSAS)--NO HSA OPENED. Priority: Substantive, Nonsignificant Legal Authority: Not Yet Determined CFR Citation: 26 CFR 54 Legal Deadline: None Abstract: A notice of proposed rulemaking provides guidance on employer contributions to Health Savings Accounts (HSAs) under section 4980G in instance where an employee has not established an HSA by the end of the calendar year. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: Undetermined Additional Information: REG-128671-06 Drafting attorney: Mireille Khoury (202) 622-6080 Reviewing attorney: Harry Becker (202) 622-6080 Treasury attorney: Kevin Knopf (202) 622-2329 CC: TEGE Agency Contact: Mireille T. Khoury, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Consitution Avenue, NW, Washington, DC 20224 Phone: 202 622-6080 Fax: 202 622-7865 Email: mireille.khoury@irscounsel. treas.gov RIN: 1545-BF97 [[Page 23089]] _______________________________________________________________________ 2478. [bull] EXCLUSION OF INCOME FROM THE INTERNATIONAL OPERATION OF SHIPS OR AIRCRAFT (TEMPORARY) Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 7805; 26 USC 883 CFR Citation: 26 CFR 1.883-0; 26 CFR 1.883-1; 26 CFR 1.883-2; 26 CFR 1.883-3; 26 CFR 1.883-4; 26 CFR 1.883-5; Legal Deadline: None Abstract: The regulation will address amendments to section 1.883-3 regulations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Federalism: Undetermined Additional Information: REG-138707-06 Drafting Attorney: Patricia A. Bray (202) 622-3880 Reviewing Attorney: Elizabeth U. Karzon (202) 622-3880 CC:INTL Agency Contact: Patricia A. Bray, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3880 Related RIN: Related to 1545-BF90 RIN: 1545-BG00 _______________________________________________________________________ 2479. [bull] ELECTRONIC PAYMENT SYSTEM MAILBOX RULE Priority: Substantive, Nonsignificant Legal Authority: 26 USC 6302; 26 USC 6311 CFR Citation: 31 CFR 6302-1(h)(6); 31 CFR 6311-2(b) Legal Deadline: None Abstract: Proposed and temporary regulations extending the time by which a taxpayer may initiate an electronic tax payment and still have such payment be considered a timely payment. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 12/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-145147-05 Drafting attorney: Natasha Mulleneaux (202) 622-4604 Reviewing attorney: Charles A. Hall (202) 622-4940 CC: PA: APJ Agency Contact: Natasha M. Mulleneaux, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Ave, NW, Washington, DC 20224 Phone: 202 622-4604 Fax: 703 605-1959 Email: natasha.m.mulleneaux@irscounsel. treas.gov RIN: 1545-BG06 _______________________________________________________________________ 2480. [bull] SECTION 7508A REGULATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7508; 26 USC 7508A CFR Citation: 26 CFR 301.7508A-1 (Revision) Legal Deadline: None Abstract: Temporary regulations for postponement of certain tax-related deadlines by reason of Presidentially Declared Disaster Area. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 12/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-142680-06 Drafting attorney: Melissa C. Quale (202) 622-7495 Reviewing attorney: Charles A. Hall (202) 622-7269 CC: PA: APJ Agency Contact: Melissa C. Quale, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-7495 Fax: 703 605-1959 Email: melissa.c.quale@irscounsel. treas.gov Related RIN: Related to 1545-BG16 RIN: 1545-BG17 _______________________________________________________________________ 2481. [bull] CALCULATING AND APPORTIONING THE SECTION 11(B)(1) ADDITIONAL TAX UNDER SECTION 1561 FOR CONTROLLED GROUPS Priority: Info./Admin./Other Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 301.7805 Legal Deadline: None Abstract: The project will provide guidance to component members of controlled groups in calculating and apportioning the section 11(b)(1) additional tax. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-104713-07 Drafting attorney: Grid R. Glyer (202) 622-7324 Reviewing attorney: Steven Hankin (202) 622-7930 Treasury attorney: Marc Countryman (202) 622-9858 CC: COR Agency Contact: Grid R. Glyer, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7324 Fax: 202 622-6298 Email: grid.r.glyer@irscounsel.treas.gov Related RIN: Related to 1545-BG39 RIN: 1545-BG40 _______________________________________________________________________ 2482. [bull] QUALIFIED ZONE ACADEMY BONDS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 1397E; 26 USC 7805 CFR Citation: 26 CFR 1.1397E-1 Legal Deadline: None [[Page 23090]] Abstract: Temporary regulations providing guidance to state and local governments that issue qualified zone academy bonds and to banks, insurance companies, and other taxpayer hold those bonds regarding the program requirements for qualified zone academy bonds under section 1397E of the Internal Revenue Code. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Governmental Jurisdictions Government Levels Affected: Local, State Additional Information: REG-121475-03 Drafting attorney: Zoran Stojanovic (202) 622-3721 Reviewing attorney: Timothy L. Jones (202) 622-3701 CC: TEGE Agency Contact: Zoran Stojanovic, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3980 Fax: 202 622-4437 Email: zoran.stojanovic@irscounsel. treas.gov Related RIN: Related to 1545-BC61 RIN: 1545-BG44 _______________________________________________________________________ 2483. [bull] DEEMED IRAS IN GOVERNMENTAL PLANS/QUALIFIED NONBANK TRUSTEE RULES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 408(q); 26 USC 7805 CFR Citation: 26 CFR 1.408-2(e); 26 CFR 1.408(a); 26 CFR 1.408(q)- 1(f)(1) Legal Deadline: None Abstract: Finalizing temporary regulations allowing governmental entities to act as nonbank trustees for deemed IRAs which are part of the entities' qualified plan. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action 04/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Local, State Additional Information: REG-101447-04 Drafting attorney: Linda L. Conway (202) 622-6952 Reviewing attorney: Cathy A. Vohs (202) 622-6090 Treasury attorney: Harlan Weller (202) 622-1001 CC: TEGE Agency Contact: Linda L. Conway, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6952 Fax: 202 622-1036 Email: linda.l.conway@irscounsel. treas.gov RIN: 1545-BG46 _______________________________________________________________________ 2484. [bull] EMPLOYMENT TAX ADJUSTMENTS Priority: Info./Admin./Other. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 6205; 26 USC 6413 CFR Citation: 26 CFR 31.6205-1; 26 CFR 31.6413(a)-1; 26 CFR 31.6413- (a)-2 Legal Deadline: None Abstract: Temporary amendment of section 31.6205-1, section 31.6413(a)- 1, and section 31.6413(a)-2 of the Employment Tax Regulations to provide guidance for employers and employees relating to the adjustment process for employment taxes. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-111583-07 Drafting attorney: Ligeia M. Donis (202) 622-0047 Reviewing attorney: Janine Cook (202) 622-0047 Treasury attorney: Kevin Knopf (202) 622-2329 CC: TEGE Agency Contact: Ligeia M. Donis, General Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 4006, Washington, DC 20224 Phone: 202 622-0047 Fax: 202 622-5697 Email: ligeia.m.donis@irscounsel. treas.gov Related RIN: Related to 1545-BG50 RIN: 1545-BG51 _______________________________________________________________________ Department of the Treasury (TREAS) Long-Term Actions Internal Revenue Service (IRS) _______________________________________________________________________ 2485. FSC TRANSFER PRICING RULES, DISTRIBUTIONS, DIVIDENDS RECEIVED, DEDUCTION, AND OTHER SPECIAL RULES FOR FSC Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 03/03/87 52 FR 6467 NPRM Comment Period End 05/02/87 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Carol Tan Phone: 202 435-5265 RIN: 1545-AI16 _______________________________________________________________________ 2486. INCOME OF FOREIGN GOVERNMENTS AND INTERNATIONAL ORGANIZATIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 [[Page 23091]] Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/27/88 53 FR 24100 NPRM Comment Period End 08/26/88 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: David A. Juster Phone: 202 622-3850 RIN: 1545-AL93 _______________________________________________________________________ 2487. CARIBBEAN BASIN INVESTMENTS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/13/91 56 FR 21963 Hearing 07/12/91 56 FR 21963 Next Action Undetermined Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Thomas A. Vidano Phone: 202 435-5265 RIN: 1545-AM91 _______________________________________________________________________ 2488. CONSOLIDATED ALTERNATIVE MINIMUM TAX Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/30/92 57 FR 62251 NPRM Comment Period End 03/01/93 Hearing 04/06/93 Next Action Undetermined Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Martin Scully Phone: 202 622-8066 RIN: 1545-AN73 _______________________________________________________________________ 2489. CONFORMING TAXABLE YEARS OF CFCS AND FPHCS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/05/93 58 FR 290 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Carl M. Cooper Phone: 202 622-3840 RIN: 1545-AO22 _______________________________________________________________________ 2490. INFORMATION REPORTING AND RECORD MAINTENANCE Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Gregory A. Spring Phone: 202 622-3870 RIN: 1545-AP10 _______________________________________________________________________ 2491. USE OF GAAP EARNINGS AS E&P OF FOREIGN CORPORATIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/01/92 57 FR 29246 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Jeffrey L. Parry Phone: 202 622-3850 RIN: 1545-AQ55 _______________________________________________________________________ 2492. INTEREST-FREE ADJUSTMENTS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 31 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/10/92 57 FR 58423 NPRM Comment Period End 02/08/93 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Karin Loverud Phone: 202 622-6080 RIN: 1545-AQ61 _______________________________________________________________________ 2493. DEFINITION OF CASH VALUE Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/15/92 57 FR 59319 NPRM Comment Period End 02/26/93 Hearing 03/19/93 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: James A. Polfer Phone: 202 622-3970 Fax: 202 622-6275 Email: james.a.polfer@irscounsel. treas.gov RIN: 1545-AQ70 _______________________________________________________________________ 2494. ALLOCATION OF ACCRUED BENEFITS BETWEEN EMPLOYER AND EMPLOYEE CONTRIBUTIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/22/95 60 FR 66532 NPRM Comment Period End 03/21/96 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Cathy A. Vohs Phone: 202 622-6090 Email: cathy.a.vohs@irscounsel. treas.gov RIN: 1545-AT82 _______________________________________________________________________ 2495. FOREIGN CORPORATIONS REGULATIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 [[Page 23092]] Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 03/08/96 61 FR 9377 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Gregory A. Spring Phone: 202 622-3870 RIN: 1545-AT96 _______________________________________________________________________ 2496. APPLICATION OF GRANTOR TRUST RULES TO NONEXEMPT EMPLOYEES' TRUSTS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/27/96 61 FR 50778 NPRM Comment Period End 12/26/96 Hearing 01/15/97 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: M. Grace Fleeman Phone: 202 622-3880 Linda S.F. Marshall Phone: 202 622-6090 James A. Quinn Phone: 202 622-3070 RIN: 1545-AU29 _______________________________________________________________________ 2497. ELECTRONIC TRANSMISSION OF WITHHOLDING CERTIFICATES Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 10/14/97 62 FR 53504 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Carl M. Cooper Phone: 202 622-3840 RIN: 1545-AV27 _______________________________________________________________________ 2498. AUTHORIZED PLACEMENT AGENCY Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 11/30/00 65 FR 71277 Second NPRM 07/00/08 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Victoria J. Driscoll Phone: 202 622-4920 Fax: 202 622-6853 Related RIN: Related to 1545-BE40 RIN: 1545-AY18 _______________________________________________________________________ 2499. SPECIAL RULES FOR S CORPORATIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 301; 26 CFR 601 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/27/92 57 FR 15272 NPRM Comment Period End 06/26/92 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: David A. Juster Phone: 202 622-3850 Related RIN: Split from 1545-AP35, Related to 1545-AS88 RIN: 1545-AY44 _______________________________________________________________________ 2500. PAYMENTS FOR INTEREST IN PARTNERSHIP Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/08 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Stacy L. Short Phone: 202 622-3070 RIN: 1545-AY90 _______________________________________________________________________ 2501. AMENDMENT TO THE DEFINITION OF REFUNDING Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1.150-1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/10/02 67 FR 17309 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Local, State Agency Contact: Vassiliki Tsilas Phone: 202 622-3980 Email: vasiliki.tsilas@irscounsel. treas.gov RIN: 1545-BA46 _______________________________________________________________________ 2502. TIMELY MAILING TREATMENT Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 301 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/21/04 69 FR 56377 Next Action Undetermined Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Jason A. Bremer Phone: 202 622-7951 Email: jason.a.bremer@irscounsel. treas.gov RIN: 1545-BA99 _______________________________________________________________________ 2503. TOLL TELEPHONE SERVICE--DEFINITION Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 49 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/01/03 68 FR 15690 Hearing 09/10/03 68 FR 35828 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Taylor Cortright Phone: 202 622-7055 RIN: 1545-BB18 [[Page 23093]] _______________________________________________________________________ 2504. MIXED USE OUTPUT FACILITIES Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 09/23/02 67 FR 59767 NPRM 09/26/06 71 FR 56072 Public Hearing set for 01/11/ 2007 09/26/06 71 FR 56072 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Local, State Agency Contact: Johanna Som de Cerff Phone: 202 622-3980 Related RIN: Merged with 1545-BC07 RIN: 1545-BB23 _______________________________________________________________________ 2505. GENERAL ALLOCATION AND ACCOUNTING REGULATIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/26/06 71 FR 56072 Public Hearing set for 01/11/ 2007 09/26/06 71 FR 56072 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Local, State Agency Contact: Johanna Som de Cerff Phone: 202 622-3980 Related RIN: Merged with 1545-BB23 RIN: 1545-BC07 _______________________________________________________________________ 2506. NOTARIZATION REQUIREMENT FOR STATEMENTS OF PURCHASE Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/10/03 68 FR 41087 NPRM Comment Period End 10/08/03 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: John T. Ricotta Phone: 202 622-6060 RIN: 1545-BC11 _______________________________________________________________________ 2507. CONTINGENT AT CLOSING ESCROWS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1; 26 CFR 602 Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Steven J. Gee Phone: 202 622-4970 Email: steven.j.gee@irscounsel. treas.gov Related RIN: Related to 1545-AR82 RIN: 1545-BC16 _______________________________________________________________________ 2508. SUBSTITUTE FOR RETURN (SFR) AND AUTOMATED SUBSTITUTE FOR RETURN (ASFR) Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 301 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/18/05 70 FR 41165 NPRM Comment Period End 10/17/05 Hearing 03/08/06 Next Action Undetermined Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: Undetermined Agency Contact: Laura Rebecca Urich Phone: 202 622-4940 Fax: 202 622-1585 Email: laura.r.urich@irscounsel. treas.gov Related RIN: Related to 1545-BC46 RIN: 1545-BC45 _______________________________________________________________________ 2509. TRANSACTIONS INVOLVING THE TRANSFER OF NO NET EQUITY VALUE Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 03/10/05 70 FR 11903 NPRM Comment Period End 06/08/05 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Jean R. Brenner Phone: 202 622-7790 RIN: 1545-BC88 _______________________________________________________________________ 2510. REVISION OF SECTION 301.6103(J)-1 FOR DISCLOSURE TO THE BUREAU OF ECONOMIC ANALYSIS, DEPARTMENT OF COMMERCE Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/06/06 71 FR 38323 NPRM Comment Period End 10/04/06 Final Action 07/00/09 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Joel D. McMahan Phone: 202 622-4580 RIN: 1545-BC93 _______________________________________________________________________ 2511. RETURN FOR SUBCHAPTER T COOPERATIVES Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/29/05 70 FR 43811 NPRM Comment Period End 10/27/05 Next Action Undetermined Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Matthew P. Howard Phone: 202 622-4910 RIN: 1545-BD92 [[Page 23094]] _______________________________________________________________________ 2512. EMPLOYER'S ANNUAL FEDERAL EMPLOYMENT TAX RETURN--FORM 944 Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. CFR Citation: 26 CFR 31 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/03/06 71 FR 46 NPRM Comment Period End 04/03/06 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: Federal Agency Contact: Raymond Bailey Phone: 202 622-4910 Related RIN: Related to 1545-BE00 RIN: 1545-BD93 _______________________________________________________________________ 2513. RETURN FOR SUBCHAPTER T COOPERATIVES (TEMPORARY) Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Matthew P. Howard Phone: 202 622-4910 Related RIN: Related to 1545-BD92 RIN: 1545-BD98 _______________________________________________________________________ 2514. APPLICATION OF SECTION 6404(G) SUSPENSION PROVISIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 301 Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses, Organizations Government Levels Affected: None Agency Contact: Stuart Spielman Phone: 202 622-3574 Fax: 202 622-7862 Email: stuart.spielman@irscounsel. treas.gov RIN: 1545-BE07 _______________________________________________________________________ 2515. INFORMATION RETURNS BY DONEES RELATING TO QUALIFIED INTELLECTUAL PROPERTY CONTRIBUTIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1; 26 CFR 602 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/23/05 70 FR 29460 Next Action Undetermined Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Matthew P. Howard Phone: 202 622-4910 RIN: 1545-BE11 _______________________________________________________________________ 2516. DEFINITION OF DEPENDENT AND OTHER RELATED PROVISIONS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. CFR Citation: Not Yet Determined Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/00/08 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Victoria J. Driscoll Phone: 202 622-4920 Fax: 202 622-6853 RIN: 1545-BE40 _______________________________________________________________________ 2517. SIMPLIFICATION OF EXTENSION PROCESS UNDER SECTION 6081 Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. CFR Citation: 26 CFR 1; 26 CFR 53; 26 CFR 55; 26 CFR 156; 26 CFR 301 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 11/07/05 70 FR 67397 Next Action Undetermined Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Charles A. Hall Phone: 202 622-4940 Email: charles.a.hall@irscounsel. treas.gov Related RIN: Related to 1545-BE63 RIN: 1545-BE62 _______________________________________________________________________ 2518. FOREIGN CURRENCY CONTRACT DEFINED Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Lauren J. Medovoy Phone: 202 622-3920 Fax: 202 622-7970 Email: lauren.j.medovoy@irscounsel. treas.gov Related RIN: Related to 1545-BE83 RIN: 1545-BE82 _______________________________________________________________________ 2519. FOREIGN CURRENCY CONTRACT DEFINED (TEMPORARY) Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Lauren J. Medovoy Phone: 202 622-3920 Fax: 202 622-7970 Email: lauren.j.medovoy@irscounsel. treas.gov Related RIN: Related to 1545-BE82 RIN: 1545-BE83 _______________________________________________________________________ 2520. PROCEDURES FOR ADMINISTRATIVE REVIEW OF A DETERMINATION THAT AN AUTHORIZED RECIPIENT HAS FAILED TO SAFEGUARD FEDERAL TAX RETURNS OR RETURN INFORMATION Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 301 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 02/24/06 71 FR 9487 NPRM Comment Period End 05/25/06 Final Action 02/00/09 [[Page 23095]] Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Charles B. Christopher Phone: 202 622-4580 Related RIN: Previously reported as 1545-BF22 RIN: 1545-BF21 _______________________________________________________________________ 2521. REVISION OF REGULATIONS TO COMPLY WITH COMMISSIONER'S E-FILE PROGRAM Priority: Info./Admin./Other CFR Citation: 26 CFR 301 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/22/06 71 FR 76955 NPRM Comment Period End 03/22/07 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Grid R. Glyer Phone: 202 622-7324 Fax: 202 622-6298 Email: grid.r.glyer@irscounsel.treas.gov Related RIN: Related to 1545-BF26 RIN: 1545-BF25 _______________________________________________________________________ 2522. DEBT SATISFIED BY A PARTNERSHIP INTEREST Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/08 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Undetermined Agency Contact: Megan A. Stoner Phone: 202 622-3070 Email: megan.a.stoner@irscounsel. treas.gov RIN: 1545-BF27 _______________________________________________________________________ 2523. TREATMENT OF PAYMENTS IN LIEU OF TAXES Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1.141-4(e)(5) Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 10/19/06 71 FR 61693 NPRM Comment Period End 01/16/07 Next Action Undetermined Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Vassiliki Tsilas Phone: 202 622-3980 Email: vasiliki.tsilas@irscounsel. treas.gov Carla A. Young Phone: 202 622-3980 Fax: 202 622-4437 Email: carla.a.young@irscounsel. treas.gov RIN: 1545-BF87 _______________________________________________________________________ 2524. [bull] SECTION 382 OWNERSHIP CHANGE Priority: Substantive, Nonsignificant Legal Authority: 26 USC 382(m); 26 USC 7805 CFR Citation: 26 CFR 1.382-2T Legal Deadline: None Abstract: This regulation provides rules for determining when an ownership change has occurred under section 382 of the Internal Revenue Code. Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-209159-86 Drafting attorney: Keith E. Stanley (202) 622-7750 Reviewing attorney: Mark S. Jennings (202) 622-7750 CC: COR Agency Contact: Keith E. Stanley, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Stop 5420, Washington, DC 20224 Phone: 202 622-7750 Fax: 202 622-7555 Email: keith.e.stanley@irscounsel. treas.gov RIN: 1545-BF99 _______________________________________________________________________ 2525. [bull] TAXES ON PROHIBITED TAX SHELTER TRANSACTIONS AND RELATED DISCLOSURE REQUIREMENTS (SECTION 610 REVIEW) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 53.4965; 26 CFR 1.6033-4 Legal Deadline: None Abstract: Proposed regulations that would provide guidance under section 4965 of the Internal Revenue Code relating to excise taxes on prohibited tax shelter transactions to which tax-exempt entities are parties and guidance under sections 6033(a)(2) and 6011(g) of the Internal Revenue Code relating to disclosure obligations with respect to such transactions. Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: Undetermined Small Entities Affected: Businesses, Governmental Jurisdictions, Organizations Government Levels Affected: Undetermined Federalism: Undetermined Additional Information: REG-142039-06 Drafting attorney: Galina V. Kolomietz (202) 622-6070 Reviewing attorney: Michael Blumenfeld (202) 622-1124 CC: TEGE Agency Contact: Galina V. Kolomietz, General Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 4408, Washington, DC 20024 Phone: 202 622-6070 Fax: 202 622-1036 Related RIN: Related to 1545-BG19 RIN: 1545-BG18 _______________________________________________________________________ 2526. [bull] DISCLOSURE REQUIREMENTS WITH RESPECT TO PROHIBITED TAX SHELTER TRANSACTIONS (SECTION 610 REVIEW) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 [[Page 23096]] CFR Citation: 26 CFR 1.6033-4 Legal Deadline: None Abstract: Temporary regulations that would provide guidance under sections 6033(a)(2) and 6011(g) of the Internal Revenue Code relating to disclosure obligations with respect to prohibited tax shelter transactions to which tax-exempt entities are parties. Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: Undetermined Small Entities Affected: Businesses, Governmental Jurisdictions, Organizations Government Levels Affected: Undetermined Federalism: Undetermined Additional Information: REG-142039-06 Drafting attorney: Galina V. Kolomietz (202) 622-6070 Reviewing attorney: Michael Blumenfeld (202) 622-1124 CC: TEGE Agency Contact: Galina V. Kolomietz, General Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 4408, Washington, DC 20024 Phone: 202 622-6070 Fax: 202 622-1036 Related RIN: Related to 1545-BG18 RIN: 1545-BG19 _______________________________________________________________________ 2527. [bull] REGULATIONS TO PRESCRIBE FORMS FOR PAYMENT OF SECTION 4965 TAXES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 53.6011-1; 26 CFR 53.6071-1; 26 CFR 54.6011-1 Legal Deadline: None Abstract: These regulations provide that certain tax-exempt entities (``non-plan entities'') that are liable for Internal Revenue Code section 4965 excise taxes and entity managers of such entities who are liable for section 4965 excise taxes are required to file Form 4720. The regulations also provide that entity managers of certain tax-exempt entities (``plan entities'') who are liable for section 4965 excise taxes are required to file Form 5330. The regulations also specify the filing dates for these returns. Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-139268-06 Drafting attorney: Galina V. Kolomietz (202) 622-6070 Reviewing attorney: Michael Blumenfeld (202) 622-1124 CC: TEGE Agency Contact: Galina V. Kolomietz, General Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 4408, Washington, DC 20024 Phone: 202 622-6070 Fax: 202 622-1036 RIN: 1545-BG20 _______________________________________________________________________ 2528. [bull] CHANGE TO OFFICE TO WHICH NOTICES OF NONJUDICIAL SALE AND REQUEST FOR RETURN OF WRONGFULLY LEVIED PROPERTY MUST BE SENT. Priority: Substantive, Nonsignificant Legal Authority: 26 USC 6343; 26 USC 7425; 26 USC 7805 CFR Citation: 26 CFR 301.6343-2; 26 CFR 301.7425-3 Legal Deadline: None Abstract: This temporary regulation amends regulations currently published under I.R.C. sections 6343 and 7425, relating to requests for return of wrongfully levied property and notices of non-judicial sale, to eliminate references to obsolete IRS officials and offices. Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-148951-05 Drafting attorney: Robin M. Ferguson (202) 622-3610 Reviewing attorneys: Mitchel Hyman (202) 622-3610 Pamela Fuller (202) 622-3600 Dominic Paris (202) 622-3400 Treasury attorney: Anita Soucy (202) 622-1766 CC: PA: CBS Agency Contact: Robin M. Ferguson, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3610 Fax: 202 622-7561 Email: robin.m.ferguson@irscounsel. treas.gov RIN: 1545-BG24 _______________________________________________________________________ 2529. [bull] TYPE III SUPPORTING ORGANIZATION PAYOUT REQUIREMENTS Priority: Substantive, Nonsignificant Legal Authority: PL 109-208, 120 Stat.; 780 (2006) sec 1241(d); 26 USC 509(a)(3); 26 USC 4943(f)(5); 26 USC 7805; CFR Citation: 26 CFR 509(a)-4 Legal Deadline: None Abstract: This regulation will define the term ``Functionally Integrated Type III Supporting Organization'' and provide the payout requirement for Type III supporting organizations that are not functionally integrated. Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: Undetermined Small Entities Affected: Organizations Government Levels Affected: Undetermined Additional Information: REG-155929-06 Drafting attorney: Philip T. Hackney (202) 622-7585 Reviewing attorney: Michael Blumenfeld (202) 622-7103 Treasury attorneys: Susan Brown (202) 622-0999 Eric San Juan (202) 622-0224 CC: TEGE Agency Contact: Philip T. Hackney, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-7585 Fax: 202 622-1036 Email: philip.t.hackney@irscounsel. treas.gov RIN: 1545-BG31 _______________________________________________________________________ 2530. [bull] PARTIAL PAYMENTS ON OFFERS IN COMPROMISE Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Unfunded Mandates: Undetermined [[Page 23097]] Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 7122 (Revision) Legal Deadline: None Abstract: Proposed regulations would amend existing regulations regarding the submission of offers in compromise to reflect changes to the law made by section 509 of the Tax Increase Prevention and Reconciliation Act of 2005. The regulations would require persons proposing to settle their tax liabilities for payments of less than the total amount determined and assessed to make partial payments when submitting their offer to compromise and while the offer was under consideration. The regulations would waive the partial payment requirement under specific conditions. The proposed regulations would also clarify when an offer in compromise is deemed accepted if the IRS has not taken action with respect to the offer within two years of the offer being submitted. Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: Undetermined Federalism: Undetermined Additional Information: REG-142004-06 Drafting attorney: William F. Conroy (202) 622-3620 Reviewing attorney: Lawrence Schattner (202) 622-3620 Treasury attorney: Anita Soucy (202) 622-1766 CC: PA: CBS Agency Contact: William F. Conroy, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Room 5555, Washington, DC 20224 Phone: 202 622-3620 Fax: 202 622-8882 Email: william.f.conroy@irscounsel. treas.gov RIN: 1545-BG32 _______________________________________________________________________ 2531. [bull] TIME AND MANNER FOR ELECTING CAPITAL GAIN TREATMENT FOR CERTAIN SELF-CREATED MUSICAL WORKS. Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1.1221-3 Legal Deadline: None Abstract: The proposed regulations will provide the time and manner for making the election specified in section 1221(b)(3). Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-153589-06 Drafting attorney: Jamie J. Kim (202) 622-4950 Reviewing attorneys: Christopher F. Kane (202) 622-3415 Andrew J. Keyso, Jr. (202) 622-7924 Treasury attorney: Eric San Juan (202) 622-0224 CC: ITA Agency Contact: Jamie J. Kim, General Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW., Room 4509, Washington, DC 20224 Phone: 202 622-4950 Fax: 202 622-4579 Email: jamie.j.kimt@irscounsel.treas.gov Related RIN: Related to 1545-BG35 RIN: 1545-BG34 _______________________________________________________________________ 2532. [bull] TIME AND MANNER FOR ELECTING CAPITAL GAIN TREATMENT FOR CERTAIN SELF-CREATED MUSICAL WORKS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1.1221-3T Legal Deadline: None Abstract: The temporary regulations will provide the time and manner for making the election specified in section 1221(b)(3). Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-153589-06 Drafting attorney: Jamie J. Kim (202) 622-4950 Reviewing attorneys: Christopher F. Kane (202) 622-3415 Andrew J. Keyso, Jr. (202) 622-7924 Treasury attorney: Eric San Juan (202) 622-0224 CC: ITA Agency Contact: Jamie J. Kim, General Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW., Room 4509, Washington, DC 20224 Phone: 202 622-4950 Fax: 202 622-4579 Email: jamie.j.kimt@irscounsel.treas.gov Related RIN: Related to 1545-BG34 RIN: 1545-BG35 _______________________________________________________________________ 2533. [bull] NOTIFICATION REQUIREMENT FOR ENTITIES NOT CURRENTLY REQUIRED TO FILE Priority: Substantive, Nonsignificant Legal Authority: PL 109-208, 120 Stat. 1090 (2006) sec. 1223; 26 USC 6033(i)(1); 26 USC 7805 CFR Citation: Not Yet Determined Legal Deadline: None Abstract: The proposed regulations will describe the time and manner in which certain tax exempt organizations not currently required to file are to provide an annual electronic notice including information set forth in the statute. Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: Undetermined Small Entities Affected: Organizations Government Levels Affected: Undetermined Additional Information: REG-104942-07 Drafting attorney: Monice L. Rosenbaum (202) 622-6070 Reviewing attorney: James Brokaw (202) 622-6070 Treasury attorneys: Susan Brown (202) 622-0999 Eric San Juan (202) 622-0224 CC: TEGE Agency Contact: Monice L. Rosenbaum, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6070 Fax: 202 622-1036 Email: monice.l.rosenbaum@irscounsel. treas.gov Related RIN: Related to 1545-BG38 RIN: 1545-BG37 [[Page 23098]] _______________________________________________________________________ 2534. [bull] NOTIFICATION REQUIREMENT FOR ENTITIES NOT CURRENTLY REQUIRED TO FILE Priority: Substantive, Nonsignificant Legal Authority: PL 109-208, 120 Stat. 1090(2006) sec. 1223; 26 USC 6033(i)(1); 26 USC 7805 CFR Citation: Not Yet Determined Legal Deadline: None Abstract: The temporary regulations will describe the time and manner in which certain tax exempt organizations not currently required to file are to provide an annual electronic notice including information set forth in the statute. Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: Undetermined Small Entities Affected: Organizations Government Levels Affected: Undetermined Additional Information: REG-104942-07 Drafting attorney: Monice L. Rosenbaum (202) 622-6070 Reviewing attorney: James Brokaw (202) 622-6070 Treasury attorneys: Susan Brown (202) 622-0999 Eric San Juan (202) 622-0224 CC: TEGE Agency Contact: Monice L. Rosenbaum, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6070 Fax: 202 622-1036 Email: monice.l.rosenbaum@irscounsel. treas.gov Related RIN: Related to 1545-BG37 RIN: 1545-BG38 _______________________________________________________________________ 2535. [bull] GUIDANCE ON ARBITRAGE Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 26 USC 148; 26 USC 7805 CFR Citation: 26 CFR 1.148-0; 26 CFR 1.148-1; 26 CFR 1.148-3; 26 CFR 1.148-4; 26 CFR 1.148-5; 26 CFR 1.148-8; 26 CFR 1.148-11 Legal Deadline: None Abstract: The notice of proposed rulemaking provides that the Department of Treasury and the Internal Revenue Service propose to provide guidance on arbitrage under Section 148 of the Internal Revenue Code. Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: No Government Levels Affected: Local, State Additional Information: REG-106143-07 Drafting attorney: Carla A. Young (202) 622-3980 Reviewing attorney: Rebecca Harrigal (202) 622-3449 Treasury attorney: John Cross (202) 622-1322 CC: TEGE Agency Contact: Carla A. Young, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW., Room 4013, Washington, DC 20224 Phone: 202 622-3980 Fax: 202 622-4437 Email: carla.a.young@irscounsel. treas.gov RIN: 1545-BG41 _______________________________________________________________________ Department of the Treasury (TREAS) Completed Actions Internal Revenue Service (IRS) _______________________________________________________________________ 2536. TRANSPORTATION OF PERSONS AND PROPERTY BY AIR Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 49 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Withdrawn 12/05/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Taylor Cortright Phone: 202 622-7055 RIN: 1545-AW19 _______________________________________________________________________ 2537. SOURCE OF INCOME FROM CERTAIN SPACE AND OCEAN ACTIVITIES AND FOR COMMUNICATIONS INCOME Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action completed by TD 9305 12/27/06 71 FR 77594 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: H. Michael Huynh Phone: 202 435-5265 RIN: 1545-AW50 _______________________________________________________________________ 2538. DEFINITION OF ACCOUNTING METHOD Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Withdrawn-No Further Action Anticipated 04/13/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Grant D. Anderson Phone: 202 622-4930 Fax: 202 622-0735 Email: grant.d.anderson@irscounsel. treas.gov RIN: 1545-AX21 _______________________________________________________________________ 2539. HIGHLY COMPENSATED EMPLOYEE Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Duplicate of RIN 1545-AQ74 04/16/07 RIN: 1545-AX48 [[Page 23099]] _______________________________________________________________________ 2540. HIPAA GENERAL NONDISCRIMINATION Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 54 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9298 12/13/06 71 FR 75014 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Russell Weinheimer Phone: 202 622-6080 RIN: 1545-AY32 _______________________________________________________________________ 2541. HIPAA NONDISCRIMINATION EXCEPTION FOR CHURCH PLANS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9299 12/13/06 71 FR 75055 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Russell Weinheimer Phone: 202 622-6080 RIN: 1545-AY33 _______________________________________________________________________ 2542. HIPAA NONDISCRIMINATION EXCEPTION FOR BONA FIDE WELLNESS PROGRAMS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action 12/13/06 71 FR 75014 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Russell Weinheimer Phone: 202 622-6080 RIN: 1545-AY34 _______________________________________________________________________ 2543. COMMUNICATIONS EXCISE TAX; TAXABLE COMMUNICATION SERVICES Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 49 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Withdrawn 06/14/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Taylor Cortright Phone: 202 622-7055 RIN: 1545-BB04 _______________________________________________________________________ 2544. ALLOCATION OF FOREIGN TAX CREDITS AMONG PARTNERS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9292 10/19/06 71 FR 61648 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Timothy J. Leska Phone: 202 622-3050 Related RIN: Related to 1545-BD70 RIN: 1545-BB11 _______________________________________________________________________ 2545. MISCELLANEOUS CHANGES TO COLLECTION DUE PROCESS PROCEDURES RELATING TO NOTICE AND OPPORTUNITY FOR HEARING UPON FILING OF NOTICE OF LIEN Priority: Other Significant CFR Citation: 26 CFR 301 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9290 10/17/06 71 FR 60835 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Laurence K. Williams Phone: 202 622-3600 Related RIN: Related to 1545-BB97 RIN: 1545-BB96 _______________________________________________________________________ 2546. MISCELLANEOUS CHANGES TO COLLECTION DUE PROCESS PROCEDURES RELATING TO HEARINGS BEFORE LEVY Priority: Other Significant CFR Citation: 26 CFR 301 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9291 10/17/06 71 FR 60827 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Laurence K. Williams Phone: 202 622-3600 Related RIN: Related to 1545-BB96 RIN: 1545-BB97 _______________________________________________________________________ 2547. GUIDANCE NECESSARY TO FACILITATE BUSINESS ELECTRONIC FILING Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1; 26 CFR 602 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9300 12/08/06 71 FR 71040 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Federal Agency Contact: Nathan B. Rosen Phone: 202 622-4910 RIN: 1545-BC15 _______________________________________________________________________ 2548. CHANGES IN COMPUTING DEPRECIATION Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9307 12/28/06 71 FR 78066 Regulatory Flexibility Analysis Required: No [[Page 23100]] Small Entities Affected: No Government Levels Affected: None Agency Contact: Douglas Kim Phone: 202 622-3110 Related RIN: Related to 1545-BC17 RIN: 1545-BC18 _______________________________________________________________________ 2549. PROHIBITED ALLOCATION OF SECURITIES IN AN S CORPORATION Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9302 12/20/06 71 FR 76134 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: John T. Ricotta Phone: 202 622-6060 Related RIN: Related to 1545-BC33 RIN: 1545-BC34 _______________________________________________________________________ 2550. DUAL CONSOLIDATED LOSS REGULATIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9315 03/19/07 72 FR 12902 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Agency Contact: Jeffrey P Cowan Phone: 202 622-3860 RIN: 1545-BD10 _______________________________________________________________________ 2551. UNDERPAYMENT FOR QUALIFIED AMENDED RETURNS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9309 01/09/07 72 FR 902 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Agency Contact: Laura Rebecca Urich Phone: 202 622-4940 Fax: 202 622-1585 Email: laura.r.urich@irscounsel. treas.gov RIN: 1545-BD40 _______________________________________________________________________ 2552. TRANSFERS OF RESTRICTED STOCK (TEMPORARY) Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Withdrawn-No Further Action Anticipated 04/16/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Stephen B. Tackney Phone: 202 622-6030 Fax: 202 622-7865 Email: stephen.b.tackney@irscounsel. treas.gov Related RIN: Related to 1545-BD44 RIN: 1545-BD45 _______________________________________________________________________ 2553. UPDATE OF 415 REGULATIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9319 04/05/07 72 FR 16877 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Vernon S. Carter Phone: 202 622-6060 Christopher A. Crouch Phone: 202 622-6090 Fax: 202 927-1851 Email: christopher.a.crouch@irscounsel. treas.gov RIN: 1545-BD52 _______________________________________________________________________ 2554. USE OF ELECTRONIC TECHNOLOGIES FOR PROVIDING NOTICES AND TRANSMITTING ELECTIONS AND CONSENTS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1; 26 CFR 35; 26 CFR 54 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9294 10/20/06 71 FR 61877 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Agency Contact: Pamela R. Kinard Phone: 202 622-8358 Email: pamela.r.kinard@irscounsel. treas.gov RIN: 1545-BD68 _______________________________________________________________________ 2555. REVISION OF SECTION 301.6103(J)-1 FOR DISCLOSURE TO THE BUREAU OF ECONOMIC ANALYSIS, DEPARTMENT OF COMMERCE (TEMPORARY) Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 301 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Withdrawn-No Further Action Anticipated 04/13/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Joel D. McMahan Phone: 202 622-4580 Related RIN: Related to 1545-BC93, Related to 1545-BE01, Related to 1545-BE08 RIN: 1545-BE02 _______________________________________________________________________ 2556. REGULATIONS UNDER SECTION 263A REGARDING USE OF SIMPLIFIED SERVICE COST METHOD AND SIMPLIFIED PRODUCTION METHOD Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9318 03/29/07 72 FR 14675 [[Page 23101]] Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Steven J. Gee Phone: 202 622-4970 Email: steven.j.gee@irscounsel. treas.gov Related RIN: Related to 1545-BE61 RIN: 1545-BE57 _______________________________________________________________________ 2557. DEFERRED COMPENSATION (PROPOSED) Priority: Substantive, Nonsignificant CFR Citation: None Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action 04/17/07 72 FR 19234 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Stephen B. Tackney Phone: 202 622-6030 Fax: 202 622-7865 Email: stephen.b.tackney@irscounsel. treas.gov RIN: 1545-BE79 _______________________________________________________________________ 2558. REMIC RESIDUALS--FOREIGN HOLDERS (TEMPORARY) Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Interim Final Rule Completed by TD 9272 08/01/06 71 FR 43363 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Arturo Estrada Phone: 202 622-3900 RIN: 1545-BE81 _______________________________________________________________________ 2559. REVISION OF REGULATION TO COMPLY WITH THE COMMISSIONER'S E-FILE PROGRAM (TEMPORARY) Priority: Info./Admin./Other CFR Citation: 26 CFR 301 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Interim Final Rule Completed by TD 9304 12/22/06 71 FR 76904 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Grid R. Glyer Phone: 202 622-7324 Fax: 202 622-6298 Email: grid.r.glyer@irscounsel.treas.gov Related RIN: Previously reported as 1545-BF25 RIN: 1545-BF26 _______________________________________________________________________ 2560. CHARITABLE CONTRIBUTIONS OF QUALIFIED VEHICLES (TEMPORARY) Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Withdrawn 04/13/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses, Organizations Government Levels Affected: None Agency Contact: Patricia Zweibel Phone: 202 622-5020 Related RIN: Related to 1545-BF10 RIN: 1545-BF29 _______________________________________________________________________ 2561. DEPRECIATION OF MACRS PROPERTY THAT IS ACQUIRED IN A LIKE-KIND EXCHANGE OR AS A RESULT OF AN INVOLUNTARY CONVERSION Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9314 03/01/07 72 FR 9245 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Agency Contact: Patrick S. Kirwan Phone: 202 622-3110 Email: patrick.s.kirwan@irscounsel. treas.gov Related RIN: Related to 1545-BC27, Related to 1545-AX95 RIN: 1545-BF37 _______________________________________________________________________ 2562. COMPUTER SOFTWARE UNDER SECTION 199(C)(5)(B) Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule Completed by TD 9317 03/20/07 72 FR 12969 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Lauren R. Taylor Phone: 202 622-3040 Fax: 202 622-4753 Email: lauren.r.taylor@irscounsel. treas.gov Related RIN: Related to 1545-BE33 RIN: 1545-BF56 _______________________________________________________________________ 2563. REVISIONS TO REGULATIONS RELATING TO REPEAL OF TAX ON INTEREST OF NONRESIDENT, ALIEN INDIVIDUALS AND FOREIGN CORPORATIONS RECEIVED FROM CERTAIN PORTFOLIO DEBT INSTRUMENTS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9323 04/12/07 72 FR 18386 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Kathryn T. Holman Phone: 202 622-3840 RIN: 1545-BF64 _______________________________________________________________________ 2564. UNITED STATES DOLLAR APPROXIMATE SEPARATE TRANSACTIONS METHOD Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1; 26 CFR 985-3 [[Page 23102]] Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9320 03/30/07 72 FR 15043 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Sheila Ramaswamy Phone: 202 622-3870 RIN: 1545-BF67 _______________________________________________________________________ 2565. USER FEES FOR PROCESSING INSTALLMENT AGREEMENTS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 300.1; 26 CFR 300.2 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9306 12/28/06 71 FR 78074 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: William Beard Phone: 202 622-4173 Fax: 202 622-8882 Email: gene.w.beard@irscounsel. treas.gov RIN: 1545-BF69 _______________________________________________________________________ 2566. REPORTING RULES FOR WIDELY HELD FIXED INVESTMENT TRUSTS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9308 12/29/06 71 FR 78351 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Faith Colson Phone: 202 622-3060 Related RIN: Related to 1545-BF86 RIN: 1545-BF75 _______________________________________________________________________ 2567. REPORTING RULES FOR WIDELY HELD FIXED INVESTMENT TRUSTS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1.671-5 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Interim Final Rule Comment Period End 10/02/06 Final Action Completed by TD 9308 12/29/06 71 FR 78351 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Faith Colson Phone: 202 622-3060 Related RIN: Related to 1545-BF75 RIN: 1545-BF86 _______________________________________________________________________ 2568. TAX INCREASE PREVENTION AND RECONCILIATION ACT OF 2005 AMENDMENTS TO SECTION 199 Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1.199-3T; 26 CFR 1.199-5T; 26 CFR 1.1997T; 26 CFR 1.1998T Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Interim Final Rule Completed by TD 9293 10/19/06 71 FR 61662 Interim Final Rule Effective 10/19/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Agency Contact: Lauren R. Taylor Phone: 202 622-3040 Fax: 202 622-4753 Email: lauren.r.taylor@irscounsel. treas.gov Related RIN: Related to 1545-BF79 RIN: 1545-BF88 _______________________________________________________________________ 2569. RULES UNDER SECTION 302 OF THE KATRINA EMERGENCY TAX RELIEF ACT OF 2005 Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1.9300-1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Interim Final Rule Completed by TD 9301 12/12/06 71 FR 74467 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Marnette M. Myers Phone: 202 622-4920 Fax: 703 605-1753 Email: marnette.m.myers@irscounsel. treas.gov Related RIN: Related to 1545-BF14 RIN: 1545-BF89 _______________________________________________________________________ 2570. SECTION 181--DEDUCTION FOR QUALIFIED FILM AND TELEVISION PRODUCTION COSTS Priority: Substantive, Nonsignificant CFR Citation: None Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Temporary Regulations Completed by TD 9312 02/09/07 72 FR 6155 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Bernard P. Harvey Phone: 202 622-3110 Related RIN: Related to 1545-BF94 RIN: 1545-BF95 _______________________________________________________________________ 2571. [bull] AMERICAN JOBS CREATION ACT (AJCA) MODIFICATIONS TO 6011, 6111, AND 6112 Priority: Substantive, Nonsignificant Legal Authority: 26 USC 6011; 26 USC 6111; 26 USC 7805 CFR Citation: 26 CFR 6011; 26 CFR 6111; 26 CFR 7805 Legal Deadline: None Abstract: This temporary regulation provides that taxpayers and material advisors may request a private letter ruling on a reportable transaction under the regular provisions for request private letter ruling. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule Completed by TD 9295 11/02/06 71 FR 64458 [[Page 23103]] Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-103038-05; REG-103039-05 and REG-103043-05 Drafting attorney: Tara Volungis (202) 622-3080 Reviewing attorney: Christine Ellison (202) 622-3070 Treasury attorney: Anita Soucy (202) 1766 CC: PSI Agency Contact: Tara P. Volungis, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3080 Related RIN: Related to 1545-BE24, Related to 1545-BE26, Related to 1545-BE28 RIN: 1545-BF98 _______________________________________________________________________ 2572. [bull] RESIDENCE INVOLVING U.S. POSSESSIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 937(a); 26 USC 7805 CFR Citation: 26 CFR 1.937-1 Legal Deadline: None Abstract: Section 937(a) of the Internal Revenue Code provides rules for determining whether an individual is a ``bona fide resident'' of a U.S. possession. Generally, Treasury regulations section 1.937-1 provides that an individual is a bona fide resident of a possession if the individual meets a presence test, a tax home test and a closer connection test. This amendment to the final regulations under section 937(a) will incorporate a new alternative under the presence tax for determining whether an individual is a bona fide resident of a U.S. possession. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9297 11/14/06 71 FR 66232 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-144024-06 Drafting Attorney: John David Varley (202) 435-5262 Reviewing Attorney: Douglas Giblen (202) 435-5262 CC:INTL Agency Contact: John David Varley, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 435-5262 Related RIN: Related to 1545-BF85, Related to 1545-BC86, Related to 1545-BE22 RIN: 1545-BG02 _______________________________________________________________________ 2573. [bull] SECTION 1.367(A)-8 REVISIONS (TEMPORARY) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1.367(a)-3T; 26 CFR 1.367(a)-8T Legal Deadline: None Abstract: This project is for regulations that revise Section 1.367(a)- 8. The regulations will provide rules describing how U.S. taxpayers enter into gain recognition agreements in connection with the transfer of stock or securities to foreign corporations. The regulations will also clarify the effect that certain transactions have on existing gain recognition agreements. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9311 02/05/07 72 FR 5174 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-147144-06 Drafting Attorney: Daniel M. McCall (202) 622-3860 CC:INTL Agency Contact: Daniel M. McCall, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3860 RIN: 1545-BG10 _______________________________________________________________________ 2574. [bull] CORPORATE REORGANIZATIONS: GUIDANCE ON THE MEASUREMENT OF CONTINUITY OF INTEREST Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1.368-1 Legal Deadline: None Abstract: The temporary regulations will provide guidance regarding when continuity of interest is measured in certain transactions. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule Completed by TD 9316 03/20/07 72 FR 12974 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-146247-06 Drafting attorney: Lisa S. Dobson (202) 622-5429 Reviewing attorney: Virginia Voorhees (202) 622-3003 Treasury attorney: Marc Countryman (202) 622-9858 CC: COR Agency Contact: Lisa S. Dobson, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 5426, Washington, DC 20224 Phone: 202 622-5429 Email: lisa.s.dobson@irscounsel. treas.gov RIN: 1545-BG14 _______________________________________________________________________ 2575. [bull] ANTI-AVOIDANCE AND ANTI-REIMPORTATION RULES APPLICABLE FOLLOWING A LOSS ON DISPOSITION OF STOCK OF CONSOLIDATED SUBSIDIARIES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 1502; 26 USC 7805 CFR Citation: 26 CFR 1.1502-35 Legal Deadline: None Abstract: This document will provide temporary regulations which add a new general anti-avoidance rule and revise the anti-loss reimportation rules in 1.1502-35. The purpose of the rules is to prevent the duplication of loss and [[Page 23104]] prevent a consolidated group of corporations from obtaining more than one tax benefit from a single economy. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule Completed by TD 9322 04/10/07 72 FR 17804 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-156420-06 Drafting attorney: Phoebe Bennett (202) 622-7770 Reviewing attorney: Theresa Abell (202) 622-7700 CC: COR Agency Contact: Phoebe Bennett, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-7770 Fax: 202 622-0477 Email: phoebe.bennett@irscounsel. treas.gov RIN: 1545-BG26 _______________________________________________________________________ 2576. [bull] CORPORATE REORGANIZATIONS; ADDITIONAL GUIDANCE ON DISTRIBUTIONS UNDER SECTIONS 368(A)(1)(D) AND 354(B)(1)(B) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1.354; 26 CFR 1.368 Legal Deadline: None Abstract: The IRS is issuing temporary regulations amending TD 9303, which provides guidance regarding the qualification of certain transactions as reorganizations described in section 368(a)(1)(D) where no stock and/or securities of the acquiring corporation is issued and distributed in the transaction. These regulations clarify that the rules in section 1.368-2(l) are not intended to affect the qualification of related party triangular asset acquisitions as reorganizations described in section 368 relating to the distribution requirement under sections 368(a)(1)(D) and 354(b)(1)(B). The text of these regulations also serves as the text of proposed regulations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule Completed by TD 9313 03/01/07 72 FR 9262 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-157834-06 Drafting attorney: Bruce Decker (202) 622-8039 Reviewing attorney: Lisa Fuller (202) 622-7152 Treasury attorney: Marc Countryman (202) 622-9858 CC: Corp Agency Contact: Bruce Decker, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-8039 Fax: 202 622-4111 Email: bruce.a.decker@irscounsel. treas.gov Related RIN: Related to 1545-BG28 RIN: 1545-BG29 _______________________________________________________________________ 2577. [bull] GUIDANCE NECESSARY TO FACILITATE BUSINESS ELECTRONIC FILING AND BURDEN REDUCTION Priority: Info./Admin./Other Legal Authority: 26 USC 1.1502; 26 USC 7805 CFR Citation: 26 CFR 1.1502; 26 CFR 301.7805 Legal Deadline: None Abstract: This project will revise a number of regulations that present impediments to e-filing. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule Completed by TD 9264 05/30/06 71 FR 30591 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-134317-05 Drafting attorney: Grid R. Glyer (202) 622-7324 Reviewing attorney: Theresa A. Abell (202)622-7700 Treasury attorney: Marc Countryman (202) 622-9858 CC: COR Agency Contact: Grid R. Glyer, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7324 Fax: 202 622-6298 Email: grid.r.glyer@irscounsel.treas.gov Related RIN: Related to 1545-BF16 RIN: 1545-BG49 BILLING CODE 6720--01--S _______________________________________________________________________ Department of the Treasury (TREAS) Proposed Rule Stage Office of Thrift Supervision (OTS) _______________________________________________________________________ 2578. SECURITIES-RELATED ACTIVITIES OF SAVINGS ASSOCIATIONS Priority: Substantive, Nonsignificant Legal Authority: 12 USC 375b; 12 USC 1462 to 1462a; 12 USC 1463 to 1464; 12 USC 1467a; 12 USC 1468; 12 USC 1817; 12 USC 1820; 12 USC 1828; 12 USC 1831o; 12 USC 3806; 42 USC 4106; 44 USC 3501 et seq CFR Citation: 12 CFR 506; 12 CFR 545; 12 CFR 559; 12 CFR 563 Legal Deadline: None Abstract: OTS is proposing to reduce regulatory burden by updating and revising its rules on securities-related activities of savings associations. First, the proposed rule describes the existing authority of Federal savings associations to engage in various securities broker, dealer, and underwriting activities under the Home Owners' Loan Act (HOLA). This description should reduce compliance burdens by making OTS positions regarding the permissibility of these activities readily available to all. [[Page 23105]] OTS is also updating the existing prohibition on the sale of debt and equity securities issued by a savings association or its affiliate at the offices of a savings association. This change will reduce burden on savings associations by adding new exceptions and by eliminating consumer protection rules that overlap, and in some cases conflict, with other Agency guidance. Finally, the proposed rule would eliminate various obsolete OTS securities activity regulations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: Undetermined Federalism: Undetermined Agency Contact: Judi McCormick, Director, Consumer Protection and Specialized Programs, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-5636 Karen Osterloh, Special Counsel, Regulations and Legislation Division, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-6639 John P. Harootunian, Senior Attorney, Business Transactions Division, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-6415 RIN: 1550-AB92 _______________________________________________________________________ 2579. PROCEDURES TO ENHANCE THE ACCURACY AND INTEGRITY OF INFORMATION FURNISHED TO CONSUMER REPORTING AGENCIES UNDER SECTION 312 OF THE FAIR AND ACCURATE CREDIT TRANSACTIONS ACT Priority: Substantive, Nonsignificant Legal Authority: Not Yet Determined CFR Citation: 12 CFR 571 Legal Deadline: None Abstract: The Office of the Comptroller of the Currency, Federal Reserve Board, Federal Deposit Insurance Corporation, Office of Thrift Supervision, National Credit Union Administration and Federal Trade Commission are seeking to gather information for developing guidelines and regulations required by section 312 of the Fair and Accurate Credit Transactions Act (FACT Act). Pursuant to section 312, the Agencies must (1) Establish guidelines for use by persons that furnish information to consumer reporting agencies regarding the accuracy and integrity of the consumer information that they furnish to those agencies; and (2) prescribe regulations that require furnishers to establish reasonable policies and procedures for implementing the guidelines. Section 312 also requires the agencies jointly to prescribe regulations that identify the circumstances under which a furnisher shall be required to reinvestigate a dispute concerning the accuracy of information contained in a consumer report on a consumer based on a direct request of the consumer. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 03/22/06 71 FR 14419 ANPRM Comment Period End 05/22/06 NPRM 08/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Glenn S. Gimble, Senior Project Manager, Compliance and Consumer Protection, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-7158 Richard Bennett, Counsel, Regulations and Legislation Division, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-7409 RIN: 1550-AC01 _______________________________________________________________________ 2580. [bull] PERMISSIBLE ACTIVITIES OF SAVINGS AND LOAN HOLDING COMPANIES Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1462; 12 USC 1462a; 12 USC 1463; 12 USC 1464; 12 USC 1467a; 12 USC 1468 CFR Citation: 12 CFR 584 Legal Deadline: None Abstract: OTS is proposing to revise its holding company regulations to permit savings and loan holding companies to engage in the same activities that are permitted for bank holding companies. In addition, OTS proposes to amend a separate provision of its holding company regulations to conform the regulation to the statute it is intended to implement, and to provide approval standards for applications submitted pursuant to the statutory requirement. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 03/27/07 72 FR 14246 NPRM Comment Period End 04/26/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Don Dwyer, Director, Applications, Examinations and Supervision-Operations, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-6414 Kevin A. Corcoran, Assistant Chief Counsel, Business Transactions, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-6962 RIN: 1550-AC10 _______________________________________________________________________ 2581. [bull] MODEL PRIVACY FORM UNDER THE GRAMM-LEACH-BLILEY ACT Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 12 USC 1462a; 12 USC 1463; 12 USC 1464; 12 USC 1828; 15 USC 6801 et seq. CFR Citation: 12 CFR 573 Legal Deadline: None Abstract: OCC, the Board, FDIC, NCUA, FTC, CFTC, SEC, and OTS (the Agencies) are proposing amendments to their rules that implement the privacy provisions of the Gramm-Leach-Bliley Act. These rules require financial institutions to provide initial and annual privacy notices to their customers. As required under Section 728 of the Financial Services [[Page 23106]] Regulatory Relief Act of 2006, the Agencies are proposing a safe harbor model privacy form that financial institutions may use to provide disclosures under the privacy rules. This proposal would remove the Sample Clauses contained in these rules as of two years after the date a final rule is published. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 03/29/07 72 FR 14940 NPRM Comment Period End 05/29/07 Regulatory Flexibility Analysis Required: Undetermined Small Entities Affected: Businesses Government Levels Affected: None Agency Contact: Ekita Mitchell, Consumer Regulations Analyst, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW, Washington, DC 20552 Phone: 202 906-6451 Richard Bennett, Counsel, Regulations and Legislation Division, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-7409 RIN: 1550-AC12 _______________________________________________________________________ 2582. [bull] RECORDKEEPING REQUIREMENTS FOR SAVINGS ASSOCIATION EXCEPTIONS FROM SECURITIES BROKER OR DEALER REGISTRATION Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Unfunded Mandates: Undetermined Legal Authority: 12 USC 1462; 12 USC 1462a; 12 USC 1463; 12 USC 1467a CFR Citation: Not Yet Determined Legal Deadline: None Abstract: The Gramm-Leach-Bliley Act of 1999 replaced broad exceptions for banks from the definitions of ``broker'' and ``dealer'' under the Securities Exchange Act of 1934 with specific exceptions. Each of the exceptions permits a bank to act as a broker or dealer with respect to specified securities products or in transactions that meet specific statutory conditions without being subject to regulation by the Securities Exchange Commission (SEC). More recently, the Financial Services Regulatory Relief Act of 2006 extended these same exceptions to savings associations and required the SEC and the Board of Governors of the Federal Reserve System (FRB) to jointly issue a rule to implement the exceptions. They issued a proposed rule on December 26, 2006. Following adoption of a final rule, the OTS, Office of the Comptroller of the Currency, FRB, and Federal Deposit Insurance Corporation will propose substantively identical recordkeeping rules for savings associations and banks and seek to avail themselves of the specific exceptions. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Martha Clarke, Counsel, Regulations & Legislation Division, Department of the Treasury, Office of Thrift Supervision, 1700 G Street, NW, Washington, DC 20552 Phone: 202 906-6087 RIN: 1550-AC13 _______________________________________________________________________ Department of the Treasury (TREAS) Final Rule Stage Office of Thrift Supervision (OTS) _______________________________________________________________________ 2583. IMPLEMENTATION OF A REVISED BASEL CAPITAL ACCORD (BASEL II) Priority: Economically Significant. Major under 5 USC 801. Unfunded Mandates: This action may affect the private sector under PL 104-4. Legal Authority: 12 USC 1462; 12 USC 1462a; 12 USC 1463; 12 USC 1464; 12 USC 1467a; 12 USC 1828 (note) CFR Citation: 12 CFR 567 Legal Deadline: None Abstract: In 2003, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision (collectively, the ``Federal Banking Agencies'') sought industry comment on a proposed framework for implementing the New Basel Capital Accord in the United States. The advance notice of proposed rulemaking (ANPRM) described significant elements of the Advanced Internal Ratings-Based approach for credit risk and the Advanced Measurement Approaches for operational risk (together, the advanced approaches). In the fourth quarter of 2004, the Federal Banking Agencies began a quantitative impact study to help determine the potential impact of implementing the capital framework set forth in the ``International Convergence of Capital Measurement and Capital Standards: A Revised Framework,'' which updates and makes some significant revisions to the preliminary New Basel Capital Accord document from 2003, upon which the above ANPRM was based. After review of the results of the quantitative impact study and after further review and full consideration of public comments received on the ANPRM, the Federal Banking Agencies published a notice of proposed rulemaking for implementation of this capital framework. The NPRM specified criteria that would be used to determine banking organizations that would be required to use the advanced approaches, subject to meeting certain qualifying criteria, supervisory standards, and disclosure requirements. Other banking organizations that would meet the criteria, standards, and requirements also would be eligible to use the advanced approaches. Under the advanced approaches, banking organizations would use internal estimates of certain risk components as key inputs in the determination of their regulatory capital requirements. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 08/04/03 68 FR 45900 ANPRM Comment Period End 11/03/03 NPRM 09/25/06 71 FR 55830 NPRM Comment Period End 01/23/07 [[Page 23107]] NPRM Comment Period Extended 12/26/06 71 FR 77518 NPRM Comment Period End 03/26/07 Final Rule 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Michael D. Solomon, Director, Capital Policy, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-5654 Karen Osterloh, Special Counsel, Regulations and Legislation Division, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-6639 David Riley, Senior Analyst, Capital Policy, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-6669 Related RIN: Related to 1550-AB11 RIN: 1550-AB56 _______________________________________________________________________ 2584. FAIR CREDIT REPORTING AFFILIATE MARKETING REGULATIONS Priority: Other Significant Legal Authority: 12 USC 1462a; 12 USC 1463 to 1464; 12 USC 1467a; 12 USC 1828; 12 USC 1831p-1; 12 USC 1881 to 1884; 15 USC 1681b; 15 USC 1681s; 15 USC 1681w; 15 USC 6801; 15 USC 6805(b)(1); PL 108-159, sec 214, 117 Stat 1952 CFR Citation: 12 CFR 571 Legal Deadline: Final, Statutory, September 4, 2004. Section 214 of the FACT Act adds a new section 624 to the FCRA. This new provision gives consumers the right to restrict a person from using certain information about a consumer obtained from an affiliate to make solicitations to that consumer. That section also requires the Agencies, in consultation and coordination with each other, to issue regulations in final form implementing section 214 not later than 9 months after the date of enactment--effective not later than September 4, 2004. Abstract: OCC, the Board, FDIC, OTS, and NCUA (Agencies) published for comment proposed regulations to implement the affiliate marketing provisions in section 214 of the Fair and Accurate Credit Transactions Act of 2003, which amends the Fair Credit Reporting Act. The proposed regulations generally prohibit a person from using information received from an affiliate to make a solicitation for marketing purposes to a consumer, unless the consumer is given notice and an opportunity and simple method to opt out of the making of such solicitations. The comment period closed in August 2004 and the final rule is being developed by the various agencies. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/15/04 69 FR 42502 NPRM Comment Period End 08/16/04 Final Rule 08/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Glenn S. Gimble, Senior Project Manager, Compliance and Consumer Protection, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-7158 Richard Bennett, Counsel, Regulations and Legislation Division, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-7409 Related RIN: Related to 1550-AB33 RIN: 1550-AB90 _______________________________________________________________________ 2585. IDENTITY THEFT DETECTION, PREVENTION, AND MITIGATION PROGRAM FOR FINANCIAL INSTITUTIONS AND CREDITORS Priority: Substantive, Nonsignificant Legal Authority: 15 USC 1681c; 15 USC 1681m; 15 USC 1681s CFR Citation: 12 CFR 571 Legal Deadline: None Abstract: The banking agencies, NCUA, and FTC (the Agencies) issued a proposed rule implementing sections 114 and 315 of the FACT Act. Section 114 requires the agencies to develop guidelines for use in identifying patterns, practices, and specific forms of activity that indicate the possible existence of identity theft. The Agencies are also required to issue regulations requiring each financial institution and creditor to establish reasonable policies and procedures to implement such guidelines. The regulations must contain a provision requiring a card issuer to notify the cardholder if the card issuer receives a notice of change of address for an existing account, and a short time later receives a request for an additional or replacement card. Section 315 requires the Agencies to issue regulations regarding reasonable policies and procedures that a user of a consumer report should employ when the user receives a notice of address discrepancy from a consumer reporting agency. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/18/06 71 FR 40786 NPRM Comment Period End 09/18/06 Final Rule 04/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Federalism: Undetermined Agency Contact: Richard Bennett, Counsel, Regulations and Legislation Division, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-7409 Glenn S. Gimble, Senior Project Manager, Compliance and Consumer Protection, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-7158 RIN: 1550-AB94 _______________________________________________________________________ 2586. RISK-BASED CAPITAL GUIDELINES; CAPITAL ADEQUACY GUIDELINES; MAINTENANCE: DOMESTIC CAPITAL MODIFICATIONS Priority: Economically Significant. Major under 5 USC 801. Legal Authority: 12 USC 1462; 12 USC 1462a; 12 USC 1463 to 1464; 12 USC 1467a; 12 USC 1828 note CFR Citation: 12 CFR 567 Legal Deadline: None Abstract: The Office of the Comptroller of the Currency, Board of Governors of [[Page 23108]] the Federal Reserve System, Federal Deposit Insurance Corporation, and Office of Thrift Supervision are considering various revisions to the risk-based capital framework. In October 2005, the Agencies published an ANPRM suggesting various approaches designed to enhance the framework's risk sensitivity and to minimize competitive disparities between larger banking organizations that will be subject to the advanced approaches implemented under the new Basel Capital Framework and other banking organizations that will not be subject to these advanced approaches. After a review of public comments on the ANPRM, the Agencies published an NPRM for implementation of this capital framework. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 10/20/05 70 FR 61068 ANPRM Comment Period End 01/18/06 NPRM 12/26/06 71 FR 77446 NPRM Comment Period End 03/26/07 Final Rule 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Michael D. Solomon, Director, Capital Policy, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-5654 Teresa Scott, Senior Project Manager, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-6478 Karen Osterloh, Special Counsel, Regulations and Legislation Division, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-6639 RIN: 1550-AB98 _______________________________________________________________________ 2587. FEDERAL SAVINGS ASSOCIATION BYLAWS; INTEGRITY OF DIRECTORS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 12 USC 1462; 12 USC 1462a; 12 USC 1463 to 1464; 12 USC 1467a; 12 USC 2901 et seq CFR Citation: 12 CFR 544; 12 CFR 552 Legal Deadline: None Abstract: OTS is proposing to change its regulations concerning corporate governance to include a preapproved bylaw that federally chartered savings associations and mutual holding companies may adopt to preclude persons who, among other things, are under indictment for, or have been convicted of certain crimes involving dishonesty or breach of trust, or have been subject to certain cease and desist orders entered by any of the banking agencies, from being members of, or nominating others to be on the Federal savings association's or mutual holding company's board of directors. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 02/14/06 71 FR 7695 NPRM Comment Period End 04/17/06 Final Rule 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Aaron Kahn, Assistant Chief Counsel, Business Transactions Division, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-6263 Don Dwyer, Director, Applications, Examinations and Supervision- Operations, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-6414 RIN: 1550-AC00 _______________________________________________________________________ 2588. RISK BASED CAPITAL--MARKET RISK RULE Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Unfunded Mandates: Undetermined Legal Authority: 12 USC 1462; 12 USC 1462a; 12 USC 1463 to 1464; 12 USC 1467a; 12 USC 1828 note CFR Citation: 12 CFR 567 Legal Deadline: None Abstract: The OTS has proposed a market risk capital rule that would require certain savings associations to adjust their risk-based capital ratios to explicitly reflect market risk. The proposed rule is identical to the rules proposed by the other Banking Agencies (OCC, FRB, and FDIC). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/25/06 71 FR 55958 NPRM Comment Period End 01/23/07 Final Rule 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Austin C. Hong, Senior Analyst, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-6389 Christine Smith, Project Manager for Supervision Policy, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-5740 Karen Osterloh, Special Counsel, Regulations and Legislation Division, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-6639 RIN: 1550-AC02 _______________________________________________________________________ 2589. SUPPLEMENTAL STANDARDS OF ETHICAL CONDUCT FOR EMPLOYEES OF THE DEPARTMENT OF TREASURY Priority: Substantive, Nonsignificant Legal Authority: 5 USC 301; 5 USC 7301; 5 USC 7353; 5 USC App. (Ethics [[Page 23109]] in Government Act of 1978); 18 USC 212 to 213; 26 USC 7214(b); EO 12674, 54 FR 15159, 3 CFR, 1989 Comp., p. 215, as modified by EO 12731, 55 FR 42547, 3 CFR, 1990 Comp., p. 306; 5 CFR 2635.105; 5 CFR 2635.203(a); 5 CFR 2635.403(a); 5 CFR 2635.803; 5 CFR 2635.807(a)(2)(ii) CFR Citation: 5 CFR part 3101 Legal Deadline: None Abstract: The Department of the Treasury (Department) is amending the Supplemental Standards of Ethical Conduct for Employees of the Department. The final rule revises the circumstances under which covered Office of Thrift Supervision (OTS) employees may obtain credit cards and loans secured by a principal residence from OTS-regulated savings associations or their subsidiaries. This amendment also modifies rules on disqualifications. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Rule 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Peter Coniglio, Senior Ethics Counsel, Department of the Treasury, 15th & Pennsylvania Avenue NW., Washington, DC 20220 Phone: 202 622-3824 Elizabeth Moore, Special Counsel, Litigation Division, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-7039 RIN: 1550-AC03 _______________________________________________________________________ 2590. STOCK BENEFIT PLANS IN MUTUAL-TO-STOCK CONVERSIONS AND MUTUAL HOLDING COMPANY STRUCTURES Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 12 USC 1462 to 1462a; 12 USC 1463 to 1464; 12 USC 1467a; 12 USC 2901; 15 USC 78c; 15 USC 78l to 78n; 12 USC 78w; 12 USC 1828 CFR Citation: 12 CFR 563b; 12 CFR 575 Legal Deadline: None Abstract: OTS proposes to clarify its regulations regarding stock benefit plans established after mutual-to-stock conversions or in mutual holding company structures. In addition, OTS proposes to reduce the voting requirements for the adoption of stock benefit plans in mutual holding company structures and to make several other minor changes to the regulations governing mutual-to-stock conversions and minority stock issuances. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/20/06 71 FR 41179 NPRM Comment Period End 09/18/06 Final Rule 05/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Don Dwyer, Director, Applications, Examinations and Supervision-Operations, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-6414 Aaron Kahn, Assistant Chief Counsel, Business Transactions Division, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-6263 David A. Permut, Counsel (Banking and Finance), Business Transactions Division, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-7505 RIN: 1550-AC07 _______________________________________________________________________ 2591. [bull] MANAGEMENT OFFICIAL INTERLOCKS Priority: Substantive, Nonsignificant Legal Authority: 12 USC 3201-3208 CFR Citation: 12 CFR 563f Legal Deadline: None Abstract: OCC, the Board, FDIC, and OTS (collectively, the Agencies) are amending their rules regarding management interlocks to implement Section 610 of the Financial Services Regulatory Relief Act of 2006 (Pub. L. 109-251, 120 Stat. 1966)(FSRRA). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 01/11/07 72 FR 1274 Interim Final Rule Effective 01/11/07 Interim Final Rule Comment Period End 02/12/07 Final Rule 04/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: David Bristol, Senior Attorney, Business Transactions Division, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-6461 Don Dwyer, Director, Applications, Examinations and Supervision- Operations, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-6414 RIN: 1550-AC09 _______________________________________________________________________ 2592. [bull] EXPANDED EXAMINATION CYCLE FOR CERTAIN SMALL INSURED DEPOSITORY INSTITUTIONS AND U.S. BRANCHES AND AGENCIES OF FOREIGN BANKS Priority: Substantive, Nonsignificant Legal Authority: 12 USC 375b; 12 USC1462; 12 USC 1462a; 12 USC 1463; 12 USC 1464; 12 USC 1467a; 12 USC 1468; 12 USC 1817; 12 USC 1820; 12 USC 1828; 12 USC 1831o; 12 USC 3806; 31 USC 5318; 42 USC 4106 CFR Citation: 12 CFR 563 Legal Deadline: None Abstract: The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (FRS), the Federal Deposit Insurance Corporation (FDIC), and the Office of Thrift Supervision (OTS) (the Agencies) are jointly issuing an interim rule to implement section 605 of the Financial Services Regulatory Relief Act of 2006 (FSRRA), and Public Law No. 109-473, collectively, the Examination Amendments. The Examination Amendments permit insured depository institutions that have up to $400 million in total assets, and that meet certain other criteria, to qualify for an 18-month (rather than 12- [[Page 23110]] month) on-site examination cycle. Prior to enactment of FSRRA, only institutions with less than $250 million in total assets were eligible for an 18-month on-site examination cycle. In addition to implementing the changes in the Examination Amendments, the Agencies are clarifying when a small insured depository institution is considered ``well managed'' for purposes of qualifying for an 18-month examination cycle. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 04/10/07 72 FR 17798 Interim Final Rule Effective 04/10/07 Interim Final Rule Comment Period End 05/10/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Robyn Dennis, Manager, Supervision Policy, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-5751 Barbara Shycoff, Special Counsel, Regulations and Legislation, Department of the Treasury, Office of Thrift Supervision, 1700 G Street, NW, Washington, DC 20552 Phone: 202 906-6947 RIN: 1550-AC11 _______________________________________________________________________ Department of the Treasury (TREAS) Completed Actions Office of Thrift Supervision (OTS) _______________________________________________________________________ 2593. SUBORDINATED DEBT SECURITIES AND MANDATORILY REDEEMABLE PREFERRED STOCK Priority: Substantive, Nonsignificant CFR Citation: 12 CFR 563 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 01/17/07 72 FR 1925 Final Rule Effective 04/01/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: David Riley Phone: 202 906-6669 Karen Osterloh Phone: 202 906-6639 Gary Jeffers Phone: 202 906-6457 RIN: 1550-AC06 _______________________________________________________________________ 2594. [bull] COMMUNITY REINVESTMENT ACT--INTERAGENCY UNIFORMITY Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1462a; 12 USC 1463; 12 USC 1464; 12 USC 1467a; 12 USC 1814; 12 USC 1816; 12 USC 1828(c); 12 USC 2901-2907 CFR Citation: 12 CFR Part 563e Legal Deadline: None Abstract: OTS is proposing changes to its CRA regulations in four areas to reestablish uniformity between its regulations and those of the other Federal banking agencies. OTS is proposing to: (1) Eliminate the option of alternative weights for lending, investment, and service under the large, retail savings association test; (2) impose a new community development test on savings associations between $250 million and $1 billion in assets (intermediate small savings associations); (3) index the asset threshold for small and intermediate small savings associations annually based on changes to the Consumer Price Index; and (4) address the impact on a savings association's CRA rating of evidence of discrimination or other illegal credit practices. OTS anticipates that this rule would not have a significant impact on savings associations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 11/24/06 71 FR 67826 NPRM Comment Period End 01/23/07 Final Rule 03/22/07 72 FR 13429 Final Rule Effective 07/01/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Celeste Anderson, Senior Project Manager, Compliance and Consumer Protection, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-7990 Richard Bennett, Counsel, Regulations and Legislation Division, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-7409 RIN: 1550-AC08 [FR Doc. 07-01416 Filed 04-27-07; 8:45 am] BILLING CODE 6720-01-S