us-irs-revenue-rulings-irb-2014-40-pdf•Internal Revenue Bulletin 2014-40 (PDF rendition): IRS Revenue Rulings
Internal Revenue Bulletin 2014-40 (PDF rendition): IRS Revenue Rulings
us-irs-revenue-rulings-irb-2014-40-pdfInternal Revenue Bulletin 2014-40 (PDF rendition): IRS Revenue RulingsGuidance
Preserve advance releases and the authoritative Internal Revenue Bulletin rendition; directory timestamps are file-publication metadata, not legal effective dates. HTML bulletins begin June 2003; earlier available issues require full PDF parsing. Whole bulletin rendition: numbered items are identified below; other legal material and publisher context remain included. This is not a new standalone advance release.
# Internal Revenue bulletin
Bulletin No.
2014-40
September
29, 2014
## HIGHLIGHTS OF THIS ISSUE
These synopses are intended only as aids to the reader in
identifying the subject matter covered. They may not be
relied upon as authoritative interpretations.
## INCOME TAX
Rev. Rul. 2014-23, page 575.
This Revenue Ruling establishes the interest rates on overpay-
ments and underpayments of tax. The rates for interest deter-
mined under section 6621 of the code for the calendar quarter
beginning October 1, 2014, will be 3 percent for overpay-
ments (2 percent in the case of a corporation), 3 percent for
the underpayments, and 5 percent for large corporation under-
payments. The rate of interest paid on the portion of a corpo-
ration overpayment exceeding $10,000 will be 0.5 percent.
### Rev. Rul. 2014-25, page 574.
This Revenue Ruling provides fringe benefits aircraft valuation
formula. For purposes of section 1.61-21(g) of the Income Tax
Regulations, relating to the rule for valuing non-commercial
flights on employer-provided aircraft, the Standard Industry
Fare Level (SIFL) cents-per-mile rates and terminal charge in
effect for the second half of 2014 are set forth.
### Notice 2014-51, page 594.
Notice 2014-51 provides an exception from the filing require-
ments under section 1298(f) of the Internal Revenue Code
(Code) and § 1.1298-1T, pursuant to which shareholders in
passive foreign investment companies (PFICs) are required to
file annual reports. This notice generally provides an exception
from the filing requirements for shareholders that hold PFIC
stock that is marked to market under a provision of chapter 1
of the Code other than section 1296.
### T.D. 9692, page 574.
Final regulations under section 3402(p)(3) relating to voluntary
withholding agreements allow the Secretary to issue guidance
in the Internal Revenue Bulletin to describe payments for which
the Secretary finds that income tax withholding under a volun-
tary withholding agreement would be appropriate.
Finding Lists begin on page ii.
Index for July through September begins on page iv.
Department of the Treasury
Internal Revenue Service
## EMPLOYEE PLANS
Notice 2014-50, page 590.
This notice sets forth updates on the corporate bond monthly
yield curve, the corresponding spot segment rates for August
2014 used under § 417(e)(3)(D), the 24-month average seg-
ment rates applicable for September 2014, and the 30-year
Treasury rates. These rates reflect the application of
§ 430(h)(2)(C)(iv), which was added by the Moving Ahead for
Progress in the 21st Century Act, Public Law 112-141 (MAP-
21) and amended by section 2003 of the Highway and Trans-
portation Funding Act of 2014 (HATFA).
## EMPLOYMENT TAX
### T.D. 9692, page 574.
Final regulations under section 3402(p)(3) relating to voluntary
withholding agreements allow the Secretary to issue guidance
in the Internal Revenue Bulletin to describe payments for which
the Secretary finds that income tax withholding under a volun-
tary withholding agreement would be appropriate.
<!-- PageBreak -->
## The IRS Mission
Provide America's taxpayers top-quality service by helping
them understand and meet their tax responsibilities and en-
force the law with integrity and fairness to all.
## Introduction
The Internal Revenue Bulletin is the authoritative instrument of
the Commissioner of Internal Revenue for announcing official
rulings and procedures of the Internal Revenue Service and for
publishing Treasury Decisions, Executive Orders, Tax Conven-
tions, legislation, court decisions, and other items of general
interest. It is published weekly.
It is the policy of the Service to publish in the Bulletin all
substantive rulings necessary to promote a uniform application
of the tax laws, including all rulings that supersede, revoke,
modify, or amend any of those previously published in the
Bulletin. All published rulings apply retroactively unless other-
wise indicated. Procedures relating solely to matters of internal
management are not published; however, statements of inter-
nal practices and procedures that affect the rights and duties
of taxpayers are published.
Revenue rulings represent the conclusions of the Service on
the application of the law to the pivotal facts stated in the
revenue ruling. In those based on positions taken in rulings to
taxpayers or technical advice to Service field offices, identify-
ing details and information of a confidential nature are deleted
to prevent unwarranted invasions of privacy and to comply with
statutory requirements.
Rulings and procedures reported in the Bulletin do not have the
force and effect of Treasury Department Regulations, but they
may be used as precedents. Unpublished rulings will not be
relied on, used, or cited as precedents by Service personnel in
the disposition of other cases. In applying published rulings and
procedures, the effect of subsequent legislation, regulations,
court decisions, rulings, and procedures must be considered,
and Service personnel and others concerned are cautioned
against reaching the same conclusions in other cases unless
the facts and circumstances are substantially the same.
The Bulletin is divided into four parts as follows:
### Part I .- 1986 Code.
This part includes rulings and decisions based on provisions of
the Internal Revenue Code of 1986.
### Part II .- Treaties and Tax Legislation.
This part is divided into two subparts as follows: Subpart A, Tax
Conventions and Other Related Items, and Subpart B, Legisla-
tion and Related Committee Reports.
Part III .- Administrative, Procedural, and Miscellaneous.
To the extent practicable, pertinent cross references to these
subjects are contained in the other Parts and Subparts. Also
included in this part are Bank Secrecy Act Administrative Rul-
ings. Bank Secrecy Act Administrative Rulings are issued by
the Department of the Treasury's Office of the Assistant Sec-
retary (Enforcement).
### Part IV .- Items of General Interest.
This part includes notices of proposed rulemakings, disbar-
ment and suspension lists, and announcements.
The last Bulletin for each month includes a cumulative index for
the matters published during the preceding months. These
monthly indexes are cumulated on a semiannual basis, and are
published in the last Bulletin of each semiannual period.
The contents of this publication are not copyrighted and may be reprinted freely. A citation of the Internal Revenue Bulletin as the source would be appropriate.
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# Part I. Rulings and Decisions Under the Internal Revenue Code of 1986
## Section 61 .- Gross Income Defined
26 CFR 1.61-21: Taxation of fringe benefits.
## Rev. Rul. 2014-25
For purposes of the taxation of fringe
benefits under section 61 of the Internal
Revenue Code, section 1.61-21(g) of the
Income Tax Regulations provides a rule
for valuing noncommercial flights on
employer-provided aircraft. Section 1.61-
21(g)(5) provides an aircraft valuation
formula to determine the value of such
flights. The value of a flight is determined
under the base aircraft valuation formula
(also known as the Standard Industry Fare
Level formula or SIFL) by multiplying the
SIFL cents-per-mile rates applicable for
the period during which the flight was
taken by the appropriate aircraft multiple
provided in section 1.61-21(g)(7) and
then adding the applicable terminal
charge. The SIFL cents-per-mile rates in
the formula and the terminal charge are
calculated by the Department of Transpor-
tation and are reviewed semi-annually.
The following chart sets forth the ter-
minal charge and SIFL mileage rates:
Period During Which the Flight Is Taken
Terminal Charge
SIFL Mileage Rates
7/1/14-12/31/14
$46.25
Up to 500 miles = $.2530 per mile 501-1500 miles = $.1929 per mile Over 1500 miles = $.1855 per mile
## DRAFTING INFORMATION
The principal author of this revenue rul-
ing is Kathleen Edmondson of the Office of
Division Counsel/Associate Chief Counsel
(Tax Exempt/Government Entities). For
further information regarding this revenue
ruling, contact Ms. Edmondson at (202)
317-6798 (not a toll-free call).
## Section 3402 .- Voluntary Withholding Agreements
26 CFR 3402(p): Income tax withholding under a
voluntary withholding agreement.
TD 9692
DEPARTMENT OF THE
TREASURY
Internal Revenue Service
26 CFR Part 31
## Authority for Voluntary Withholding on Other Payments
AGENCY: Internal Revenue Service
(IRS), Treasury.
ACTION: Final regulations and removal
of temporary regulations.
SUMMARY: This document contains fi-
nal regulations under section 3402(p) of
the Internal Revenue Code (Code) relating
to voluntary withholding agreements. The
final regulations allow the Secretary to
issue guidance in the Internal Revenue
Bulletin to describe payments for which
the Secretary finds that income tax with-
holding under a voluntary withholding
agreement would be appropriate. The reg-
ulations affect persons making and per-
sons receiving payments for which the
IRS issues subsequent guidance authoriz-
ing the parties to enter into voluntary
withholding agreements.
DATES: Effective Date: These regula-
tions are effective on September 16, 2014.
Applicability date: For date of applica-
bility, see § 31.3402(p)-1(d).
FOR FURTHER INFORMATION
CONTACT: Linda L. Conway-Hataloski
at (202) 317-6798 (not a toll-free
number).
SUPPLEMENTARY INFORMATION:
Background
This document contains amendments
to 26 CFR part 31 under section 3402(p)
of the Code. On November 29, 2013,
Treasury and the IRS published in the
Federal Register temporary regulations
(TD 9646) at 78 FR 71476 and a notice of
proposed rulemaking by cross-reference
to temporary regulations (REG-146620-
13, 78 FR 71542) under section 3402(p)
of the Code relating to voluntary with-
holding.
Two written comments responding to
the notice of proposed rulemaking were
received but neither comment addressed
issues relevant to the notice of proposed
rulemaking or the temporary regulations.
No public hearing was requested or held.
Accordingly, the proposed regulations
(which cross referenced the temporary
regulations) are adopted without change
as final regulations.
## Explanation of Provisions
These final regulations under section
31.3402(p)-1 adopt without change the
proposed regulations and the temporary
regulations that allow the Secretary to de-
scribe other payments subject to voluntary
withholding agreements in guidance pub-
lished in the Internal Revenue Bulletin
(IRB). Similarly to the proposed and the
temporary regulations, these final regula-
tions also provide that the IRB guidance
will set forth requirements regarding the
form and duration of the voluntary with-
holding agreement specific to the type of
payment from which withholding is au-
thorized.
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## Special Analyses
It has been determined that this Trea-
sury decision is not a significant regula-
tory action as defined in Executive Order
12866, as supplemented by Executive Or-
der 13563. Therefore, a regulatory assess-
ment is not required. It also has been
determined that section 553(b) of the Ad-
ministrative Procedure Act (5 U.S.C.
chapter 5) does not apply to these regula-
tions, and because the regulations do not
impose a collection of information on
small entities, the Regulatory Flexibility
Act (5 U.S.C. chapter 6) does not apply.
Pursuant to section 7805(f) of the Code,
these regulations have been submitted to
the Chief Counsel for Advocacy of the
Small Business Administration for com-
ment on their impact on small business,
and no comments were received.
## Drafting Information
The principal author of these regula-
tions is Linda L. Conway-Hataloski, Of-
fice of Division Counsel/Associate Chief
Counsel (Tax Exempt and Government
Entities). However, personnel from other
offices of the IRS and Treasury partici-
pated in their development.
* * * * *
## Adoption of Amendments to the Regulations
Accordingly, 26 CFR part 31 is
amended as follows:
PART 31-EMPLOYMENT TAXES
AND COLLECTION OF INCOME
TAX AT SOURCE
Paragraph 1. The authority citation for
part 31 continues to read in part as fol-
lows:
Authority: 26 U.S.C. 7805
Par. 2. Section 31.3402(p)-1 is amended
by:
1\. Revising the headings of paragraphs
(a) and (b).
2\. Removing the language "3402(b)" in
the first sentence and "3402(p)" in the third
sentence of paragraph (a) and "3402(p)" in
the five places that it appears in paragraph
(b) and adding "3402(p)(3)(A)" in those
places.
3\. Adding paragraphs (c) and (d).
The revisions and additions read as fol-
lows:
§ 31.3402(p)-1 Voluntary Withholding
Agreements.
(a) Employer-employee agreement.
* * * * *
(b) Form and duration of employer-
employee agreement. * * *
* * * * *
(c) Other payments. The Secretary may
issue guidance by publication in the Inter-
nal Revenue Bulletin (IRB) (which will be
available at www.IRS.gov) describing
other payments for which withholding un-
der a voluntary withholding agreement
would be appropriate and authorizing pay-
ors to agree to withhold income tax on
such payments if requested by the payee.
Requirements regarding the form and du-
ration of voluntary withholding agree-
ments authorized by this paragraph (c)
will be provided in the IRB guidance is-
sued regarding specific types of payments.
(d) Effective/applicability date. (1)
This section applies on and after Septem-
ber 16, 2014.
Par. 3. Section 31.3402(p)-IT is re-
moved. 31.3402(p)-1T [Removed].
John Dalrymple
Deputy Commissioner for
Services and Enforcement.
Approved September 8, 2014.
Mark J. Mazur
Assistant Secretary of the Treasury
(Tax Policy).
(Filed by the Office of the Federal Register on September
15, 2014, 8:45 a.m., and published in the issue of the Federal
Register for September 16, 2014, 79 F.R. 55362)
## Section 6621 .- Determination of Rate of Interest
26 CFR 301.6621-1: Interest rate.
Rev. Rul. 2014-23
Section 6621 of the Internal Revenue
Code establishes the interest rates on
overpayments and underpayments of tax.
Under section 6621(a)(1), the overpayment
rate is the sum of the federal short-term rate
plus 3 percentage points (2 percentage
points in the case of a corporation), except
the rate for the portion of a corporate over-
payment of tax exceeding $10,000 for a
taxable period is the sum of the federal
short-term rate plus 0.5 of a percentage
point. Under section 6621(a)(2), the
underpayment rate is the sum of the
federal short-term rate plus 3 percentage
points.
Section 6621(c) provides that for pur-
poses of interest payable under section
6601 on any large corporate underpay-
ment, the underpayment rate under section
6621(a)(2) is determined by substituting
"5 percentage points" for "3 percentage
points."
See section 6621(c) and section
301.6621-3 of the Regulations on Proce-
dure and Administration for the definition
of a large corporate underpayment and for
the rules for determining the applicable
date. Section 6621(c) and section
301.6621-3 are generally effective for pe-
riods after December 31, 1990.
Section 6621(b)(1) provides that the
Secretary will determine the federal short-
term rate for the first month in each cal-
endar quarter. Section 6621(b)(2)(A) pro-
vides that the federal short-term rate
determined under section 6621(b)(1) for
any month applies during the first calen-
dar quarter beginning after that month.
Section 6621(b)(3) provides that the fed-
eral short-term rate for any month is the
federal short-term rate determined during
that month by the Secretary in accordance
with section 1274(d), rounded to the near-
est full percent (or, if a multiple of 1/2 of
1 percent, the rate is increased to the next
highest full percent).
Notice 88-59, 1988-1 C.B. 546, an-
nounced that in determining the quarterly
interest rates to be used for overpayments
and underpayments of tax under section
6621, the Internal Revenue Service will
use the federal short-term rate based on
daily compounding because that rate is
most consistent with section 6621 which,
pursuant to section 6622, is subject to
daily compounding.
The federal short-term rate determined in
accordance with section 1274(d) during July
2014 is the rate published in Revenue Rul-
ing 2014-19, 2014-32 IRB 266 to take
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effect beginning August 1, 2014. The fed-
eral short-term rate, rounded to the nearest
full percent, based on daily compounding
determined during the month of July 2014 is
0 percent. Accordingly, an overpayment
rate of 3 percent (2 percent in the case of a
corporation) and an underpayment rate of 3
percent are established for the calendar
quarter beginning October 1, 2014. The
overpayment rate for the portion of a corpo-
rate overpayment exceeding $10,000 for the
calendar quarter beginning October 1, 2014,
is 0.5 percent. The underpayment rate for
large corporate underpayments for the cal-
endar quarter beginning October 1, 2014, is
5 percent. These rates apply to amounts
bearing interest during that calendar
quarter.
The 3 percent rate also applies to esti-
mated tax underpayments for the fourth
calendar quarter in 2014.
Interest factors for daily compound
interest for annual rates of 0.5 percent
are published in Appendix A of this
Revenue Ruling. Interest factors for
daily compound interest for annual rates
of 2 percent, 3 percent and 5 percent are
published in Tables 9, 11, and 15 of
Rev. Proc. 95-17, 1995-1 C.B. 563,
565, and 569.
Annual interest rates to be com-
pounded daily pursuant to section 6622
that apply for prior periods are set forth in
the tables accompanying this revenue rul-
ing.
# DRAFTING INFORMATION
The principal author of this revenue
ruling is Deborah Colbert-James of the
Office of Associate Chief Counsel (Proce-
dure & Administration). For further infor-
mation regarding this revenue ruling, con-
tact Ms. Colbert-James at (202) 317-3400
(not a toll-free number).
# APPENDIX A
365 Day Year
Days
0.5% Compound Rate 184 Days
Factor
Factor
Days
Factor
Days
1
0.000013699
63
0.000863380
125
0.001713784
2
0.000027397
64
0.000877091
126
0.001727506
3
0.000041096
65
0.000890801
127
0.001741228
4
0.000054796
66
0.000904512
128
0.001754951
5
0.000068495
67
0.000918223
129
0.001768673
6
0.000082195
68
0.000931934
130
0.001782396
7
0.000095894
69
0.000945646
131
0.001796119
8
0.000109594
70
0.000959357
132
0.001809843
9
0.000123294
71
0.000973069
133
0.001823566
10
0.000136995
72
0.000986781
134
0.001837290
11
0.000150695
73
0.001000493
135
0.001851013
12
0.000164396
74
0.001014206
136
0.001864737
13
0.000178097
75
0.001027918
137
0.001878462
14
0.000191798
76
0.001041631
138
0.001892186
15
0.000205499
77
0.001055344
139
0.001905910
16
0.000219201
78
0.001069057
140
0.001919635
17
0.000232902
79
0.001082770
141
0.001933360
18
0.000246604
80
0.001096484
142
0.001947085
19
0.000260306
81
0.001110197
143
0.001960811
20
0.000274008
82
0.001123911
144
0.001974536
21
0.000287711
83
0.001137625
145
0.001988262
22
0.000301413
84
0.001151339
146
0.002001988
23
0.000315116
85
0.001165054
147
0.002015714
24
0.000328819
86
0.001178768
148
0.002029440
25
0.000342522
87
0.001192483
149
0.002043166
26
0.000356225
88
0.001206198
150
0.002056893
27
0.000369929
89
0.001219913
151
0.002070620
28
0.000383633
90
0.001233629
152
0.002084347
29
0.000397336
91
0.001247344
153
0.002098074
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## 365 Day Year 0.5% Compound Rate 184 Days
Days
Factor
Days
Factor
Days
Factor
30
0.000411041
92
0.001261060
154
0.002111801
31
0.000424745
93
0.001274776
155
0.002125529
32
0.000438449
94
0.001288492
156
0.002139257
33
0.000452154
95
0.001302208
157
0.002152985
34
0.000465859
96
0.001315925
158
0.002166713
35
0.000479564
97
0.001329641
159
0.002180441
36
0.000493269
98
0.001343358
160
0.002194169
37
0.000506974
99
0.001357075
161
0.002207898
38
0.000520680
100
0.001370792
162
0.002221627
39
0.000534386
101
0.001384510
163
0.002235356
40
0.000548092
102
0.001398227
164
0.002249085
41
0.000561798
103
0.001411945
165
0.002262815
42
0.000575504
104
0.001425663
166
0.002276544
43
0.000589211
105
0.001439381
167
0.002290274
44
0.000602917
106
0.001453100
168
0.002304004
45
0.000616624
107
0.001466818
169
0.002317734
46
0.000630331
108
0.001480537
170
0.002331465
47
0.000644039
109
0.001494256
171
0.002345195
48
0.000657746
110
0.001507975
172
0.002358926
49
0.000671454
111
0.001521694
173
0.002372657
50
0.000685161
112
0.001535414
174
0.002386388
51
0.000698869
113
0.001549133
175
0.002400120
52
0.000712578
114
0.001562853
176
0.002413851
53
0.000726286
115
0.001576573
177
0.002427583
54
0.000739995
116
0.001590293
178
0.002441315
55
0.000753703
117
0.001604014
179
0.002455047
56
0.000767412
118
0.001617734
180
0.002468779
57
0.000781121
119
0.001631455
181
0.002482511
58
0.000794831
120
0.001645176
182
0.002496244
59
0.000808540
121
0.001658897
183
0.002509977
60
0.000822250
122
0.001672619
184
0.002523710
61
0.000835960
123
0.001686340
62
0.000849670
124
0.001700062
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366 Day Year
0.5% Compound Rate 184 Days
Days
Factor
Days
Factor
Days
Factor
1
0.000013661
63
0.000861020
125
0.001709097
2
0.000027323
64
0.000874693
126
0.001722782
3
0.000040984
65
0.000888366
127
0.001736467
4
0.000054646
66
0.000902040
128
0.001750152
5
0.000068308
67
0.000915713
129
0.001763837
6
0.000081970
68
0.000929387
130
0.001777522
7
0.000095632
69
0.000943061
131
0.001791208
8
0.000109295
70
0.000956735
132
0.001804893
9
0.000122958
71
0.000970409
133
0.001818579
10
0.000136620
72
0.000984084
134
0.001832265
11
0.000150283
73
0.000997758
135
0.001845951
12
0.000163947
74
0.001011433
136
0.001859638
13
0.000177610
75
0.001025108
137
0.001873324
14
0.000191274
76
0.001038783
138
0.001887011
15
0.000204938
77
0.001052459
139
0.001900698
16
0.000218602
78
0.001066134
140
0.001914385
17
0.000232266
79
0.001079810
141
0.001928073
18
0.000245930
80
0.001093486
142
0.001941760
19
0.000259595
81
0.001107162
143
0.001955448
20
0.000273260
82
0.001120839
144
0.001969136
21
0.000286924
83
0.001134515
145
0.001982824
22
0.000300590
84
0.001148192
146
0.001996512
23
0.000314255
85
0.001161869
147
0.002010201
24
0.000327920
86
0.001175546
148
0.002023889
25
0.000341586
87
0.001189223
149
0.002037578
26
0.000355252
88
0.001202900
150
0.002051267
27
0.000368918
89
0.001216578
151
0.002064957
28
0.000382584
90
0.001230256
152
0.002078646
29
0.000396251
91
0.001243934
153
0.002092336
30
0.000409917
92
0.001257612
154
0.002106025
31
0.000423584
93
0.001271291
155
0.002119715
32
0.000437251
94
0.001284969
156
0.002133405
33
0.000450918
95
0.001298648
157
0.002147096
34
0.000464586
96
0.001312327
158
0.002160786
35
0.000478253
97
0.001326006
159
0.002174477
36
0.000491921
98
0.001339685
160
0.002188168
37
0.000505589
99
0.001353365
161
0.002201859
38
0.000519257
100
0.001367044
162
0.002215550
39
0.000532925
101
0.001380724
163
0.002229242
40
0.000546594
102
0.001394404
164
0.002242933
41
0.000560262
103
0.001408085
165
0.002256625
42
0.000573931
104
0.001421765
166
0.002270317
43
0.000587600
105
0.001435446
167
0.002284010
44
0.000601269
106
0.001449127
168
0.002297702
<!-- PageFooter="September 29, 2014" -->
<!-- PageFooter="Bulletin No. 2014-40" -->
<!-- PageBreak -->
366 Day Year 0.5% Compound Rate 184 Days
Days
Factor
Days
Factor
Days
Factor
45
0.000614939
107
0.001462808
169
0.002311395
46
0.000628608
108
0.001476489
170
0.002325087
47
0.000642278
109
0.001490170
171
0.002338780
48
0.000655948
110
0.001503852
172
0.002352473
49
0.000669618
111
0.001517533
173
0.002366167
50
0.000683289
112
0.001531215
174
0.002379860
51
0.000696959
113
0.001544897
175
0.002393554
52
0.000710630
114
0.001558580
176
0.002407248
53
0.000724301
115
0.001572262
177
0.002420942
54
0.000737972
116
0.001585945
178
0.002434636
55
0.000751643
117
0.001599628
179
0.002448331
56
0.000765315
118
0.001613311
180
0.002462025
57
0.000778986
119
0.001626994
181
0.002475720
58
0.000792658
120
0.001640678
182
0.002489415
59
0.000806330
121
0.001654361
183
0.002503110
60
0.000820003
122
0.001668045
184
0.002516806
61
0.000833675
123
0.001681729
62
0.000847348
124
0.001695413
TABLE OF INTEREST RATES PERIODS BEFORE JUL. 1, 1975 - PERIODS ENDING DEC. 31, 1986 OVERPAYMENTS AND UNDERPAYMENTS
PERIOD
RATE
In 1995-1 C.B. DAILY RATE TABLE
Before Jul. 1, 1975
6%
Table 2, pg. 557
Jul. 1, 1975-Jan. 31, 1976
9%
Table 4, pg. 559
Feb. 1, 1976-Jan. 31, 1978
7%
Table 3, pg. 558
Feb. 1, 1978-Jan. 31, 1980
6%
Table 2, pg. 557
Feb. 1, 1980-Jan. 31, 1982
12%
Table 5, pg. 560
Feb. 1, 1982-Dec. 31, 1982
20%
Table 6, pg. 560
Jan. 1, 1983-Jun. 30, 1983
16%
Table 37, pg. 591
Jul. 1, 1983-Dec. 31, 1983
11%
Table 27, pg. 581
Jan. 1, 1984-Jun. 30, 1984
11%
Table 75, pg. 629
Jul. 1, 1984-Dec. 31, 1984
11%
Table 75, pg. 629
Jan. 1, 1985-Jun. 30, 1985
13%
Table 31, pg. 585
Jul. 1, 1985-Dec. 31, 1985
11%
Table 27, pg. 581
Jan. 1, 1986-Jun. 30, 1986
10%
Table 25, pg. 579
Jul. 1, 1986-Dec. 31, 1986
9%
Table 23, pg. 577
<!-- PageFooter="Bulletin No. 2014-40" -->
<!-- PageFooter="September 29, 2014" -->
<!-- PageBreak -->
TABLE OF INTEREST RATES FROM JAN. 1, 1987 - DEC. 31, 1998 OVERPAYMENTS UNDERPAYMENTS
RATE
1995-1 C.B. TABLE
PG
RATE
1995-1 C.B. TABLE
PG
Jan. 1, 1987-Mar. 31, 1987
8%
21
575
9%
23
577
Apr. 1, 1987-Jun. 30, 1987
8%
21
575
9%
23
577
Jul. 1, 1987-Sep. 30, 1987
8%
21
575
9%
23
577
Oct. 1, 1987-Dec. 31, 1987
9%
23
577
10%
25
579
Jan. 1, 1988-Mar. 31, 1988
10%
73
627
11%
75
629
Apr. 1, 1988-Jun. 30, 1988
9%
71
625
10%
73
627
Jul. 1, 1988-Sep. 30, 1988
9%
71
625
10%
73
627
Oct. 1, 1988-Dec. 31, 1988
10%
73
627
11%
75
629
Jan. 1, 1989-Mar. 31, 1989
10%
25
579
11%
27
581
Apr. 1, 1989-Jun. 30, 1989
11%
27
581
12%
29
583
Jul. 1, 1989-Sep. 30, 1989
11%
27
581
12%
29
583
Oct. 1, 1989-Dec. 31, 1989
10%
25
579
11%
27
581
Jan. 1, 1990-Mar. 31, 1990
10%
25
579
11%
27
581
Apr. 1, 1990-Jun. 30, 1990
10%
25
579
11%
27
581
Jul. 1, 1990-Sep. 30, 1990
10%
25
579
11%
27
581
Oct. 1, 1990-Dec. 31, 1990
10%
25
579
11%
27
581
Jan. 1, 1991-Mar. 31, 1991
10%
25
579
11%
27
581
Apr. 1, 1991-Jun. 30, 1991
9%
23
577
10%
25
579
Jul. 1, 1991-Sep. 30, 1991
9%
23
577
10%
25
579
Oct. 1, 1991-Dec. 31, 1991
9%
23
577
10%
25
579
Jan. 1, 1992-Mar. 31, 1992
8%
69
623
9%
71
625
Apr. 1, 1992-Jun. 30, 1992
7%
67
621
8%
69
623
Jul. 1, 1992-Sep. 30, 1992
7%
67
621
8%
69
623
Oct. 1, 1992-Dec. 31, 1992
6%
65
619
7%
67
621
Jan. 1, 1993-Mar. 31, 1993
6%
17
571
7%
19
573
Apr. 1, 1993-Jun. 30, 1993
6%
17
571
7%
19
573
Jul. 1, 1993-Sep. 30, 1993
6%
17
571
7%
19
573
Oct. 1, 1993-Dec. 31, 1993
6%
17
571
7%
19
573
Jan. 1, 1994-Mar. 31, 1994
6%
17
571
7%
19
573
Apr. 1, 1994-Jun. 30, 1994
6%
17
571
7%
19
573
Jul. 1, 1994-Sep. 30, 1994
7%
19
573
8%
21
575
Oct. 1, 1994-Dec. 31, 1994
8%
21
575
9%
23
577
Jan. 1, 1995-Mar. 31, 1995
8%
21
575
9%
23
577
Apr. 1, 1995-Jun. 30, 1995
9%
23
577
10%
25
579
Jul. 1, 1995-Sep. 30, 1995
8%
21
575
9%
23
577
Oct. 1, 1995-Dec. 31, 1995
8%
21
575
9%
23
577
Jan. 1, 1996-Mar. 31, 1996
8%
69
623
9%
71
625
Apr. 1, 1996-Jun. 30, 1996
7%
67
621
8%
69
623
Jul. 1, 1996-Sep. 30, 1996
8%
69
623
9%
71
625
Oct. 1, 1996-Dec. 31, 1996
8%
69
623
9%
71
625
Jan. 1, 1997-Mar. 31, 1997
8%
21
575
9%
23
577
Apr. 1, 1997-Jun. 30, 1997
8%
21
575
9%
23
577
<!-- PageFooter="September 29, 2014" -->
<!-- PageFooter="Bulletin No. 2014-40" -->
<!-- PageBreak -->
TABLE OF INTEREST RATES FROM JANUARY 1, 1999 - PRESENT NONCORPORATE OVERPAYMENTS AND UNDERPAYMENTS
TABLE OF INTEREST RATES FROM JAN. 1, 1987 - DEC. 31, 1998 OVERPAYMENTS UNDERPAYMENTS 1995-1 C.B. 1995-1 C.B. RATE TABLE PG RATE TABLE PG
Jul. 1, 1997-Sep. 30, 1997
8%
21
575
9%
23
577
Oct. 1, 1997-Dec. 31, 1997
8%
21
575
9%
23
577
Jan. 1, 1998-Mar. 31, 1998
8%
21
575
9%
23
577
Apr. 1, 1998-Jun. 30, 1998
7%
19
573
8%
21
575
Jul. 1, 1998-Sep. 30, 1998
7%
19
573
8%
21
575
Oct. 1, 1998-Dec. 31, 1998
7%
19
573
8%
21
575
RATE
1995-1 C.B. TABLE
PAGE
Jan. 1, 1999-Mar. 31, 1999
7%
19
573
Apr. 1, 1999-Jun. 30, 1999
8%
21
575
Jul. 1, 1999-Sep. 30, 1999
8%
21
575
Oct. 1, 1999-Dec. 31, 1999
8%
21
575
Jan. 1, 2000-Mar. 31, 2000
8%
69
623
Apr. 1, 2000-Jun. 30, 2000
9%
71
625
Jul. 1, 2000-Sep. 30, 2000
9%
71
625
Oct. 1, 2000-Dec. 31, 2000
9%
71
625
Jan. 1, 2001-Mar. 31, 2001
9%
23
577
Apr. 1, 2001-Jun. 30, 2001
8%
21
575
Jul. 1, 2001-Sep. 30, 2001
7%
19
573
Oct. 1, 2001-Dec. 31, 2001
7%
19
573
Jan. 1, 2002-Mar. 31, 2002
6%
17
571
Apr. 1, 2002-Jun. 30, 2002
6%
17
571
Jul. 1, 2002-Sep. 30, 2002
6%
17
571
Oct. 1, 2002-Dec. 31, 2002
6%
17
571
Jan. 1, 2003-Mar. 31, 2003
5%
15
569
Apr. 1, 2003-Jun. 30, 2003
5%
15
569
Jul. 1, 2003-Sep. 30, 2003
5%
15
569
Oct. 1, 2003-Dec. 31, 2003
4%
13
567
Jan. 1, 2004-Mar. 31, 2004
4%
61
615
Apr. 1, 2004-Jun. 30, 2004
5%
63
617
Jul. 1, 2004-Sep. 30, 2004
4%
61
615
Oct. 1, 2004-Dec. 31, 2004
5%
63
617
Jan. 1, 2005-Mar. 31, 2005
5%
15
569
Apr. 1, 2005-Jun. 30, 2005
6%
17
571
Jul. 1, 2005-Sep. 30, 2005
6%
17
571
Oct. 1, 2005-Dec. 31, 2005
7%
19
573
Jan. 1, 2006-Mar. 31, 2006
7%
19
573
<!-- PageFooter="Bulletin No. 2014-40" -->
<!-- PageFooter="September 29, 2014" -->
<!-- PageBreak -->
# TABLE OF INTEREST RATES FROM JANUARY 1, 1999 - PRESENT NONCORPORATE OVERPAYMENTS AND UNDERPAYMENTS
RATE
1995-1 C.B. TABLE
PAGE
Apr. 1, 2006-Jun. 30, 2006
7%
19
573
Jul. 1, 2006-Sep. 30, 2006
8%
21
575
Oct. 1, 2006-Dec. 31, 2006
8%
21
575
Jan. 1, 2007-Mar. 31, 2007
8%
21
575
Apr. 1, 2007-Jun. 30, 2007
8%
21
575
Jul. 1, 2007-Sep. 30, 2007
8%
21
575
Oct. 1, 2007-Dec. 31, 2007
8%
21
575
Jan. 1, 2008-Mar. 31, 2008
7%
67
621
Apr. 1, 2008-Jun. 30, 2008
6%
65
619
Jul. 1, 2008-Sep. 30, 2008
5%
63
617
Oct. 1, 2008-Dec. 31, 2008
6%
65
619
Jan. 1, 2009-Mar. 31, 2009
5%
15
569
Apr. 1, 2009-Jun. 30, 2009
4%
13
567
Jul. 1, 2009-Sep. 30, 2009
4%
13
567
Oct. 1, 2009-Dec. 31, 2009
4%
13
567
Jan. 1, 2010-Mar. 31, 2010
4%
13
567
Apr. 1, 2010-Jun. 30, 2010
4%
13
567
Jul. 1, 2010-Sep. 30, 2010
4%
13
567
Oct. 1, 2010-Dec. 31, 2010
4%
13
567
Jan. 1, 2011-Mar. 31, 2011
3%
11
565
Apr. 1, 2011-Jun. 30, 2011
4%
13
567
Jul. 1, 2011-Sep. 30, 2011
4%
13
567
Oct. 1, 2011-Dec. 31, 2011
3%
11
565
Jan. 1, 2012-Mar. 31, 2012
3%
59
613
Apr. 1, 2012-Jun. 30, 2012
3%
59
613
Jul. 1, 2012-Sep. 30, 2012
3%
59
613
Oct. 1, 2012-Dec. 31, 2012
3%
59
613
Jan. 1, 2013-Mar. 31, 2013
3%
11
565
Apr. 1, 2013-Jun. 30, 2013
3%
11
565
Jul. 1, 2013-Sep. 30, 2013
3%
11
565
Oct. 1, 2013-Dec. 31, 2013
3%
11
565
Jan. 1, 2014-Mar. 31, 2014
3%
11
565
Apr. 1, 2014-Jun. 30, 2014
3%
11
565
Jul. 1, 2014-Sep. 30, 2014
3%
11
565
Oct. 1, 2014-Dec. 31, 2014
3%
11
565
<!-- PageFooter="September 29, 2014" -->
<!-- PageFooter="Bulletin No. 2014-40" -->
<!-- PageBreak -->
## TABLE OF INTEREST RATES
FROM JANUARY 1, 1999 - PRESENT
CORPORATE OVERPAYMENTS AND UNDERPAYMENTS
OVERPAYMENTS
UNDERPAYMENTS
RATE
1995-1 C.B. TABLE
PG
RATE
1995-1 C.B. TABLE
PG
Jan. 1, 1999-Mar. 31, 1999
6%
17
571
7%
19
573
Apr. 1, 1999-Jun. 30, 1999
7%
19
573
8%
21
575
Jul. 1, 1999-Sep. 30, 1999
7%
19
573
8%
21
575
Oct. 1, 1999-Dec. 31, 1999
7%
19
573
8%
21
575
Jan. 1, 2000-Mar. 31, 2000
7%
67
621
8%
69
623
Apr. 1, 2000-Jun. 30, 2000
8%
69
623
9%
71
625
Jul. 1, 2000-Sep. 30, 2000
8%
69
623
9%
71
625
Oct. 1, 2000-Dec. 31, 2000
8%
69
623
9%
71
625
Jan. 1, 2001-Mar. 31, 2001
8%
21
575
9%
23
577
Apr. 1, 2001-Jun. 30, 2001
7%
19
573
8%
21
575
Jul. 1, 2001-Sep. 30, 2001
6%
17
571
7%
19
573
Oct. 1, 2001-Dec. 31, 2001
6%
17
571
7%
19
573
Jan. 1, 2002-Mar. 31, 2002
5%
15
569
6%
17
571
Apr. 1, 2002-Jun. 30, 2002
5%
15
569
6%
17
571
Jul. 1, 2002-Sep. 30, 2002
5%
15
569
6%
17
571
Oct. 1, 2002-Dec. 31, 2002
5%
15
569
6%
17
571
Jan. 1, 2003-Mar. 31, 2003
4%
13
567
5%
15
569
Apr. 1, 2003-Jun. 30, 2003
4%
13
567
5%
15
569
Jul. 1, 2003-Sep. 30, 2003
4%
13
567
5%
15
569
Oct. 1, 2003-Dec. 31, 2003
3%
11
565
4%
13
567
Jan. 1, 2004-Mar. 31, 2004
3%
59
613
4%
61
615
Apr. 1, 2004-Jun. 30, 2004
4%
61
615
5%
63
617
Jul. 1, 2004-Sep. 30, 2004
3%
59
613
4%
61
615
Oct. 1, 2004-Dec. 31, 2004
4%
61
615
5%
63
617
Jan. 1, 2005-Mar. 31, 2005
4%
13
567
5%
15
569
Apr. 1, 2005-Jun. 30, 2005
5%
15
569
6%
17
571
Jul. 1, 2005-Sep. 30, 2005
5%
15
569
6%
17
571
Oct. 1, 2005-Dec. 31, 2005
6%
17
571
7%
19
573
Jan. 1, 2006-Mar. 31, 2006
6%
17
571
7%
19
573
Apr. 1, 2006-Jun. 30, 2006
6%
17
571
7%
19
573
Jul. 1, 2006-Sep. 30, 2006
7%
19
573
8%
21
575
Oct. 1, 2006-Dec. 31, 2006
7%
19
573
8%
21
575
Jan. 1, 2007-Mar. 31, 2007
7%
19
573
8%
21
575
Apr. 1, 2007-Jun. 30, 2007
7%
19
573
8%
21
575
Jul. 1, 2007-Sep. 30, 2007
7%
19
573
8%
21
575
Oct. 1, 2007-Dec. 31, 2007
7%
19
573
8%
21
575
Jan. 1, 2008-Mar. 31, 2008
6%
65
619
7%
67
621
Apr. 1, 2008-Jun. 30, 2008
5%
63
617
6%
65
619
Jul. 1, 2008-Sep. 30, 2008
4%
61
615
5%
63
617
Oct. 1, 2008-Dec. 31, 2008
5%
63
617
6%
65
619
Jan. 1, 2009-Mar. 31, 2009
4%
13
567
5%
15
569
<!-- PageFooter="Bulletin No. 2014-40" -->
<!-- PageFooter="September 29, 2014" -->
<!-- PageBreak -->
## TABLE OF INTEREST RATES FROM JANUARY 1, 1999 - PRESENT CORPORATE OVERPAYMENTS AND UNDERPAYMENTS
OVERPAYMENTS
UNDERPAYMENTS
RATE
1995-1 C.B. TABLE
PG
RATE
1995-1 C.B. TABLE
PG
Apr. 1, 2009-Jun. 30, 2009
3%
11
565
4%
13
567
Jul. 1, 2009-Sep. 30, 2009
3%
11
565
4%
13
567
Oct. 1, 2009-Dec. 31, 2009
3%
11
565
4%
13
567
Jan. 1, 2010-Mar. 31, 2010
3%
11
565
4%
13
567
Apr. 1, 2010-Jun. 30, 2010
3%
11
565
4%
13
567
Jul. 1, 2010-Sep. 30, 2010
3%
11
565
4%
13
567
Oct. 1, 2010-Dec. 31, 2010
3%
11
565
4%
13
567
Jan. 1, 2011-Mar. 31, 2011
2%
9
563
3%
11
565
Apr. 1, 2011-Jun. 30, 2011
3%
11
565
4%
13
567
Jul. 1, 2011-Sep. 30, 2011
3%
11
565
4%
13
567
Oct. 1, 2011-Dec. 31, 2011
2%
9
563
3%
11
565
Jan. 1, 2012-Mar. 31, 2012
2%
57
611
3%
59
613
Apr. 1, 2012-Jun. 30, 2012
2%
57
611
3%
59
613
Jul. 1, 2012-Sep. 30, 2012
2%
57
611
3%
59
613
Oct. 1, 2012-Dec. 31, 2012
2%
57
611
3%
59
613
Jan. 1, 2013-Mar. 31, 2013
2%
9
563
3%
11
565
Apr. 1, 2013-Jun. 30, 2013
2%
9
563
3%
11
565
Jul. 1, 2013-Sep. 30, 2013
2%
9
563
3%
11
565
Oct. 1, 2013-Dec. 31, 2013
2%
9
563
3%
11
565
Jan. 1, 2014-Mar. 31, 2014
2%
9
563
3%
11
565
Apr. 1, 2014-Jun. 30, 2014
2%
9
563
3%
11
565
Jul. 1, 2014-Sep. 30, 2014
2%
9
563
3%
11
565
Oct. 1, 2014-Dec. 31, 2014
2%
9
563
3%
11
565
<!-- PageFooter="September 29, 2014" -->
<!-- PageFooter="Bulletin No. 2014-40" -->
<!-- PageBreak -->
## TABLE OF INTEREST RATES FOR LARGE CORPORATE UNDERPAYMENTS FROM JANUARY 1, 1991 - PRESENT
RATE
1995-1 C.B. TABLE
PG
Jan. 1, 1991-Mar. 31, 1991
13%
31
585
Apr. 1, 1991-Jun. 30, 1991
12%
29
583
Jul. 1, 1991-Sep. 30, 1991
12%
29
583
Oct. 1, 1991-Dec. 31, 1991
12%
29
583
Jan. 1, 1992-Mar. 31, 1992
11%
75
629
Apr. 1, 1992-Jun. 30, 1992
10%
73
627
Jul. 1, 1992-Sep. 30, 1992
10%
73
627
Oct. 1, 1992-Dec. 31, 1992
9%
71
625
Jan. 1, 1993-Mar. 31, 1993
9%
23
577
Apr. 1, 1993-Jun. 30, 1993
9%
23
577
Jul. 1, 1993-Sep. 30, 1993
9%
23
577
Oct. 1, 1993-Dec. 31, 1993
9%
23
577
Jan. 1, 1994-Mar. 31, 1994
9%
23
577
Apr. 1, 1994-Jun. 30, 1994
9%
23
577
Jul. 1, 1994-Sep. 30, 1994
10%
25
579
Oct. 1, 1994-Dec. 31, 1994
11%
27
581
Jan. 1, 1995-Mar. 31, 1995
11%
27
581
Apr. 1, 1995-Jun. 30, 1995
12%
29
583
Jul. 1, 1995-Sep. 30, 1995
11%
27
581
Oct. 1, 1995-Dec. 31, 1995
11%
27
581
Jan. 1, 1996-Mar. 31, 1996
11%
75
629
Apr. 1, 1996-Jun. 30, 1996
10%
73
627
Jul. 1, 1996-Sep. 30, 1996
11%
75
629
Oct. 1, 1996-Dec. 31, 1996
11%
75
629
Jan. 1, 1997-Mar. 31, 1997
11%
27
581
Apr. 1, 1997-Jun. 30, 1997
11%
27
581
Jul. 1, 1997-Sep. 30, 1997
11%
27
581
Oct. 1, 1997-Dec. 31, 1997
11%
27
581
Jan. 1, 1998-Mar. 31, 1998
11%
27
581
Apr. 1, 1998-Jun. 30, 1998
10%
25
579
Jul. 1, 1998-Sep. 30, 1998
10%
25
579
Oct. 1, 1998-Dec. 31, 1998
10%
25
579
Jan. 1, 1999-Mar. 31, 1999
9%
23
577
Apr. 1, 1999-Jun. 30, 1999
10%
25
579
Jul. 1, 1999-Sep. 30, 1999
10%
25
579
Oct. 1, 1999-Dec. 31, 1999
10%
25
579
Jan. 1, 2000-Mar. 31, 2000
10%
73
627
Apr. 1, 2000-Jun. 30, 2000
11%
75
629
Jul. 1, 2000-Sep. 30, 2000
11%
75
629
Oct. 1, 2000-Dec. 31, 2000
11%
75
629
Jan. 1, 2001-Mar. 31, 2001
11%
27
581
Apr. 1, 2001-Jun. 30, 2001
10%
25
579
Jul. 1, 2001-Sep. 30, 2001
9%
23
577
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## TABLE OF INTEREST RATES FOR LARGE CORPORATE UNDERPAYMENTS FROM JANUARY 1, 1991 - PRESENT
RATE
1995-1 C.B. TABLE
PG
Oct. 1, 2001-Dec. 31, 2001
9%
23
577
Jan. 1, 2002-Mar. 31, 2002
8%
21
575
Apr. 1, 2002-Jun. 30, 2002
8%
21
575
Jul. 1, 2002-Sep. 30, 2002
8%
21
575
Oct. 1, 2002-Dec. 31, 2002
8%
21
575
Jan. 1, 2003-Mar. 31, 2003
7%
19
573
Apr. 1, 2003-Jun. 30, 2003
7%
19
573
Jul. 1, 2003-Sep. 30, 2003
7%
19
573
Oct. 1, 2003-Dec. 31, 2003
6%
17
571
Jan. 1, 2004-Mar. 31, 2004
6%
65
619
Apr. 1, 2004-Jun. 30, 2004
7%
67
621
Jul. 1, 2004-Sep. 30, 2004
6%
65
619
Oct. 1, 2004-Dec. 31, 2004
7%
67
621
Jan. 1, 2005-Mar. 31, 2005
7%
19
573
Apr. 1, 2005-Jun. 30, 2005
8%
21
575
Jul. 1, 2005-Sep. 30, 2005
8%
21
575
Oct. 1, 2005-Dec. 31, 2005
9%
23
577
Jan. 1, 2006-Mar. 31, 2006
9%
23
577
Apr. 1, 2006-Jun. 30, 2006
9%
23
577
Jul. 1, 2006-Sep. 30, 2006
10%
25
579
Oct. 1, 2006-Dec. 31, 2006
10%
25
579
Jan. 1, 2007-Mar. 31, 2007
10%
25
579
Apr. 1, 2007-Jun. 30, 2007
10%
25
579
Jul. 1, 2007-Sep. 30, 2007
10%
25
579
Oct. 1, 2007-Dec. 31, 2007
10%
25
579
Jan. 1, 2008-Mar. 31, 2008
9%
71
625
Apr. 1, 2008-Jun. 30, 2008
8%
69
623
Jul. 1, 2008-Sep. 30, 2008
7%
67
621
Oct. 1, 2008-Dec. 31, 2008
8%
69
623
Jan. 1, 2009-Mar. 31, 2009
7%
19
573
Apr. 1, 2009-Jun. 30, 2009
6%
17
571
Jul. 1, 2009-Sep. 30, 2009
6%
17
571
Oct. 1, 2009-Dec. 31, 2009
6%
17
571
Jan. 1, 2010-Mar. 31, 2010
6%
17
571
Apr. 1, 2010-Jun. 30, 2010
6%
17
571
Jul. 1, 2010-Sep. 30, 2010
6%
17
571
Oct. 1, 2010-Dec. 31, 2010
6%
17
571
Jan. 1, 2011-Mar. 31, 2011
5%
15
569
Apr. 1, 2011-Jun. 30, 2011
6%
17
571
Jul. 1, 2011-Sep. 30, 2011
6%
17
571
Oct. 1, 2011-Dec. 31, 2011
5%
15
569
Jan. 1, 2012-Mar. 31, 2012
5%
63
617
Apr. 1, 2012-Jun. 30, 2012
5%
63
617
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<!-- PageBreak -->
TABLE OF INTEREST RATES FOR LARGE CORPORATE UNDERPAYMENTS FROM JANUARY 1, 1991 - PRESENT
RATE
1995-1 C.B. TABLE
PG
Jul. 1, 2012-Sep. 30, 2012
5%
63
617
Oct. 1, 2012-Dec. 31, 2012
5%
63
617
Jan. 1, 2013-Mar. 31, 2013
5%
15
569
Apr. 1, 2013-Jun. 30, 2013
5%
15
569
Jul. 1, 2013-Sep. 30, 2013
5%
15
569
Oct. 1, 2013-Dec. 31, 2013
5%
15
569
Jan. 1, 2014-Mar. 31, 2014
5%
15
569
Apr. 1, 2014-Jun. 30, 2014
5%
15
569
Jul. 1, 2014-Sep. 30, 2014
5%
15
569
Oct. 1, 2014-Dec. 31, 2014
5%
15
569
TABLE OF INTEREST RATES FOR CORPORATE OVERPAYMENTS EXCEEDING $10,000 FROM JANUARY 1, 1995 - PRESENT
RATE
1995-1 C.B. TABLE
PG
Jan. 1, 1995-Mar. 31, 1995
6.5%
18
572
Apr. 1, 1995-Jun. 30, 1995
7.5%
20
574
Jul. 1, 1995-Sep. 30, 1995
6.5%
18
572
Oct. 1, 1995-Dec. 31, 1995
6.5%
18
572
Jan. 1, 1996-Mar. 31, 1996
6.5%
66
620
Apr. 1, 1996-Jun. 30, 1996
5.5%
64
618
Jul. 1, 1996-Sep. 30, 1996
6.5%
66
620
Oct. 1, 1996-Dec. 31, 1996
6.5%
66
620
Jan. 1, 1997-Mar. 31, 1997
6.5%
18
572
Apr. 1, 1997-Jun. 30, 1997
6.5%
18
572
Jul. 1, 1997-Sep. 30, 1997
6.5%
18
572
Oct. 1, 1997-Dec. 31, 1997
6.5%
18
572
Jan. 1, 1998-Mar. 31, 1998
6.5%
18
572
Apr. 1, 1998-Jun. 30, 1998
5.5%
16
570
Jul. 1. 1998-Sep. 30, 1998
5.5%
16
570
Oct. 1, 1998-Dec. 31, 1998
5.5%
16
570
Jan. 1, 1999-Mar. 31, 1999
4.5%
14
568
Apr. 1, 1999-Jun. 30, 1999
5.5%
16
570
Jul. 1, 1999-Sep. 30, 1999
5.5%
16
570
Oct. 1, 1999-Dec. 31, 1999
5.5%
16
570
Jan. 1, 2000-Mar. 31, 2000
5.5%
64
618
Apr. 1, 2000-Jun. 30, 2000
6.5%
66
620
Jul. 1, 2000-Sep. 30, 2000
6.5%
66
620
Oct. 1, 2000-Dec. 31, 2000
6.5%
66
620
Jan. 1, 2001-Mar. 31, 2001
6.5%
18
572
Apr. 1, 2001-Jun. 30, 2001
5.5%
16
570
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## TABLE OF INTEREST RATES FOR CORPORATE OVERPAYMENTS EXCEEDING $10,000 FROM JANUARY 1, 1995 - PRESENT
RATE
1995-1 C.B. TABLE
PG
Jul. 1, 2001-Sep. 30, 2001
4.5%
14
568
Oct. 1, 2001-Dec. 31, 2001
4.5%
14
568
Jan. 1, 2002-Mar. 31, 2002
3.5%
12
566
Apr. 1, 2002-Jun. 30, 2002
3.5%
12
566
Jul. 1, 2002-Sep. 30, 2002
3.5%
12
566
Oct. 1, 2002-Dec. 31, 2002
3.5%
12
566
Jan. 1, 2003-Mar. 31, 2003
2.5%
10
564
Apr. 1, 2003-Jun. 30, 2003
2.5%
10
564
Jul. 1, 2003-Sep. 30, 2003
2.5%
10
564
Oct. 1, 2003-Dec. 31, 2003
1.5%
8
562
Jan. 1, 2004-Mar. 31, 2004
1.5%
56
610
Apr. 1, 2004-Jun. 30, 2004
2.5%
58
612
Jul. 1, 2004-Sep. 30, 2004
1.5%
56
610
Oct. 1, 2004-Dec. 31, 2004
2.5%
58
612
Jan. 1, 2005-Mar. 31, 2005
2.5%
10
564
Apr. 1, 2005-Jun. 30, 2005
3.5%
12
566
Jul. 1, 2005-Sep. 30, 2005
3.5%
12
566
Oct. 1, 2005-Dec. 31, 2005
4.5%
14
568
Jan. 1, 2006-Mar. 31, 2006
4.5%
14
568
Apr. 1, 2006-Jun. 30, 2006
4.5%
14
568
Jul. 1, 2006-Sep. 30, 2006
5.5%
16
570
Oct. 1, 2006-Dec. 31, 2006
5.5%
16
570
Jan. 1, 2007-Mar. 31, 2007
5.5%
16
570
Apr. 1, 2007-Jun. 30, 2007
5.5%
16
570
Jul. 1, 2007-Sep. 30, 2007
5.5%
16
570
Oct. 1, 2007-Dec. 31, 2007
5.5%
16
570
Jan. 1, 2008-Mar. 31, 2008
4.5%
62
616
Apr. 1, 2008-Jun. 30, 2008
3.5%
60
614
Jul. 1, 2008-Sep. 30, 2008
2.5%
58
612
Oct. 1, 2008-Dec. 31, 2008
3.5%
60
614
Jan. 1, 2009-Mar. 31, 2009
2.5%
10
564
Apr. 1, 2009-Jun. 30, 2009
1.5%
8
562
Jul. 1, 2009-Sep. 30, 2009
1.5%
8
562
Oct. 1, 2009-Dec. 31, 2009
1.5%
8
562
Jan. 1, 2010-Mar. 31, 2010
1.5%
8
562
Apr. 1, 2010-Jun. 30, 2010
1.5%
8
562
Jul. 1, 2010-Sep. 30, 2010
1.5%
8
562
Oct. 1, 2010-Dec. 31, 2010
1.5%
8
562
Jan. 1, 2011-Mar. 31, 2011
0.5%*
Apr. 1, 2011-Jun. 30, 2011
1.5%
8
562
Jul. 1, 2011-Sep. 30, 2011
1.5%
8
562
Oct. 1, 2011-Dec. 31, 2011
0.5%*
Jan. 1, 2012-Mar. 31, 2012
0.5%*
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# TABLE OF INTEREST RATES FOR CORPORATE OVERPAYMENTS EXCEEDING $10,000 FROM JANUARY 1, 1995 - PRESENT
1995-1 C.B.
RATE
TABLE
PG
Apr. 1, 2012-Jun. 30, 2012
0.5%*
Jul. 1, 2012-Sep. 30, 2012
0.5%*
Oct. 1, 2012-Dec. 31, 2012
0.5%*
Jan. 1, 2013-Mar. 31, 2013
0.5%*
Apr. 1, 2013-Jun. 30, 2013
0.5%*
Jul. 1, 2013-Sep. 30, 2013
0.5%*
Oct. 1, 2013-Dec. 31, 2013
0.5%*
Jan. 1, 2014-Mar. 31, 2014
0.5%*
Apr. 1, 2014-Jun. 30, 2014
0.5%*
Jul. 1, 2014-Sep. 30, 2014
0.5%*
Oct. 1, 2014-Dec. 31, 2014
0.5%*
* The asterisk reflects the interest factors for daily compound interest for annual rates of 0.5 percent are published in Appendix A of this Revenue Ruling.
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# Part III. Administrative, Procedural, and Miscellaneous
## Update for Weighted Average Interest Rates, Yield Curves, and Segment Rates
### Notice 2014-50
This notice provides guidance on the
corporate bond monthly yield curve, the
corresponding spot segment rates used
under § 417(e)(3), and the 24-month
average segment rates under § 430(h)(2)
of the Internal Revenue Code. In addi-
tion, this notice provides guidance as to
the interest rate on 30-year Treasury se-
curities under § 417(e)(3)(A)(ii)(II) as
in effect for plan years beginning before
2008 and the 30-year Treasury weighted
average rate under § 431(c)(6)(E)(ii)(I).
The rates in this notice reflect the appli-
cation of § 430(h)(2)(C)(iv), which was
added by the Moving Ahead for Prog-
ress in the 21st Century Act, Public Law
112-141 (MAP-21) and amended by
section 2003 of the Highway and Trans-
portation Funding Act of 2014, Public
Law 113-159 (HATFA).
### YIELD CURVE AND SEGMENT RATES
Generally, except for certain plans
under sections 104 and 105 of the Pen-
sion Protection Act of 2006 and CSEC
plans under § 414(y), § 430 of the Code
specifies the minimum funding require-
ments that apply to single-employer
plans pursuant to § 412. Section
430(h)(2) specifies the interest rates that
must be used to determine a plan's tar-
get normal cost and funding target. Un-
der this provision, present value is gen-
erally determined using three 24-month
average interest rates ("segment rates"),
each of which applies to cash flows during
specified periods. To the extent provided
under § 430(h)(2)(C)(iv), these segment
rates are adjusted by the applicable per-
centage of the 25-year average segment
rates for the period ending September 30
of the year preceding the calendar year in
which the plan year begins. However, an
election may be made under
§ 430(h)(2)(D)(ii) to use the monthly
yield curve in place of the segment rates.
Notice 2007-81, 2007-44 I.R.B. 899,
provides guidelines for determining the
monthly corporate bond yield curve, and
the 24-month average corporate bond seg-
ment rates used to compute the target nor-
mal cost and the funding target. In accor-
dance with the methodology specified in
Notice 2007-81, the monthly corporate
bond yield curve derived from August
2014 data is in Table I at the end of this
notice. The spot first, second, and third
segment rates for the month of August
2014 are, respectively, 1.24, 3.86, and
4.96.
The 24-month average segment rates
determined under § 430(h)(2)(C)(i)
through (iii) must be adjusted pursuant to
§ 430(h)(2)(C)(iv) by the applicable per-
centage of the corresponding 25-year av-
erage segment rates. Section 2003(a) of
HATFA amended the applicable percent-
ages under § 430(h)(2)(C)(iv). This
change generally applies to plan years be-
ginning on or after January 1, 2013. How-
ever, pursuant to section 2003(e)(2) of
HATFA, a plan sponsor can elect not to
have the amendments made to the appli-
cable percentages by section 2003 of
HATFA apply to any plan year beginning
in 2013. These elections can be made ei-
ther for all purposes or, alternatively, for
purposes of determining the adjusted
funding target attainment percentage un-
der § 436. The 25-year average segment
rates for plan years beginning in 2012,
2013, and 2014 were published in Notice
2012-55, 2012-36 I.R.B. 332, Notice
2013-11, 2013-11 I.R.B. 610, and Notice
2013-58, 2013-40 I.R.B. 294, respec-
tively. For plan years beginning in 2015,
based on the segment rates applicable for
October 1989 to September 2014, the 25-
year averages for the period ending Sep-
tember 30, 2014, of the first, second, and
third segment rates are 5.24, 6.79, and
7.57 percent, respectively.
For plan years beginning in years 2012
through 2017, pursuant to the changes
made by HATFA, the applicable mini-
mum percentage is 90% and the applica-
ble maximum percentage is 110%. These
applicable percentages are referred to as
HATFA applicable percentages. As de-
scribed in the preceding paragraph, a spe-
cial election is available for any plan year
beginning in 2013 under which this
change made by HATFA can be disre-
garded for all purposes or for limited pur-
poses. To the extent such an election is
made, the applicable minimum percentage
for a plan year beginning in 2013 is 85%
and the applicable maximum percentage
for that plan year is 115%. These applica-
ble percentages are referred to as MAP-21
applicable percentages.
The three 24-month average corporate
bond segment rates applicable for Sep-
tember 2014 without adjustment for the
25-year average segment rate limits are as
follows:
Applicable Month
First Segment
Second Segment
Third Segment
September 2014
1.15
4.06
5.15
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Based on § 430(h)(2)(C)(iv) as
amended by section 2003 of HATFA, the
24-month averages applicable for Septem-
ber 2014 adjusted for the HATFA appli-
cable percentages of the corresponding
25-year average segment rates, are as fol-
lows:
For Plan Years Beginning In
Adjusted 24-Month Average Segment Rates, Based on the HATFA Applicable Percentage of 25-Year Average Rates
Applicable Month
First Segment
Second Segment
Third Segment
2013
September
2014
5.23
6.51
7.16
2014
September
2014
4.99
6.32
6.99
2015
September
2014
4.72
6.11
6.81
Based on § 430(h)(2)(C)(iv) as in ef-
fect prior to amendment by section 2003
of HATFA, the three 24-month averages
applicable for September 2014 adjusted
for the MAP-21 applicable percentages of
the corresponding 25-year average seg-
ment rates, for plan years beginning in
2013, are as follows:
For Plan Years Beginning In
Adjusted 24-Month Average Segment Rates, Based on MAP-21 Applicable Percentage of 25-Year Average Rates
Applicable Month
First Segment
Second Segment
Third Segment
2013
September
2014
4.94
6.15
6.76
#### 30-YEAR TREASURY SECURITIES INTEREST RATES
Generally, for plan years beginning af-
ter 2007, § 431 specifies the minimum
funding requirements that apply to mul-
tiemployer plans pursuant to § 412. Sec-
tion 431(c)(6)(B) specifies a minimum
amount for the full-funding limitation de-
scribed in section 431(c)(6)(A), based on
the plan's current liability. Section
431(c)(6)(E)(ii)(I) provides that the inter-
est rate used to calculate current liability
for this purpose must be no more than 5
percent above and no more than 10 per-
cent below the weighted average of the
rates of interest on 30-year Treasury se-
curities during the four-year period ending
on the last day before the beginning of the
plan year. Notice 88-73, 1988-2 C.B.
383, provides guidelines for determining
the weighted average interest rate. The
rate of interest on 30-year Treasury secu-
rities for August 2014 is 3.20 percent. The
Service has determined this rate as the
average of the daily determinations of
yield on the 30-year Treasury bond ma-
turing in May 2044 determined each day
through August 13, 2014, and the yield on
the 30-year Treasury bond maturing in
August 2044 determined each day for the
balance of the month. The following rates
were determined for plan years beginning
in the month shown below.
For Plan Years Beginning in
30-Year Treasury Weighted Average
Permissible Range
Month
Year
90%
to
105%
September
2014
3.40
3.06
3.57
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# MINIMUM PRESENT VALUE SEGMENT RATES
In general, the applicable interest rates
under § 417(e)(3)(D) are segment rates
computed without regard to a 24-month
average. Notice 2007-81 provides guide-
lines for determining the minimum pres-
ent value segment rates. Pursuant to that
notice, the minimum present value seg-
ment rates determined for August 2014
are as follows:
First Segment
Second Segment
Third Segment
1.24
3.86
4.96
# DRAFTING INFORMATION
The principal author of this notice is
Tony Montanaro of the Employee Plans,
Tax Exempt and Government Entities Di-
vision. Mr. Montanaro may be e-mailed at
RetirementPlanQuestions@irs.gov.
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Table I Monthly Yield Curve for August 2014 Derived from August 2014 Data
Maturity
Yield
Maturity
Yield
Maturity
Yield
Maturity
Yield
Maturity
Yield
0.5
0.16
20.5
4.60
40.5
5.00
60.5
5.14
80.5
5.21
1.0
0.42
21.0
4.62
41.0
5.01
61.0
5.14
81.0
5.21
1.5
0.67
21.5
4.63
41.5
5.01
61.5
5.15
81.5
5.22
2.0
0.92
22.0
4.65
42.0
5.02
62.0
5.15
82.0
5.22
2.5
1.16
22.5
4.67
42.5
5.02
62.5
5.15
82.5
5.22
3.0
1.39
23.0
4.68
43.0
5.03
63.0
5.15
83.0
5.22
3.5
1.61
23.5
4.70
43.5
5.03
63.5
5.16
83.5
5.22
4.0
1.83
24.0
4.71
44.0
5.04
64.0
5.16
84.0
5.22
4.5
2.03
24.5
4.73
44.5
5.04
64.5
5.16
84.5
5.22
5.0
2.22
25.0
4.74
45.0
5.04
65.0
5.16
85.0
5.22
5.5
2.41
25.5
4.75
45.5
5.05
65.5
5.16
85.5
5.23
6.0
2.58
26.0
4.77
46.0
5.05
66.0
5.17
86.0
5.23
6.5
2.74
26.5
4.78
46.5
5.06
66.5
5.17
86.5
5.23
7.0
2.89
27.0
4.79
47.0
5.06
67.0
5.17
87.0
5.23
7.5
3.04
27.5
4.80
47.5
5.06
67.5
5.17
87.5
5.23
8.0
3.17
28.0
4.81
48.0
5.07
68.0
5.17
88.0
5.23
8.5
3.30
28.5
4.82
48.5
5.07
68.5
5.18
88.5
5.23
9.0
3.42
29.0
4.83
49.0
5.08
69.0
5.18
89.0
5.23
9.5
3.52
29.5
4.84
49.5
5.08
69.5
5.18
89.5
5.23
10.0
3.63
30.0
4.85
50.0
5.08
70.0
5.18
90.0
5.24
10.5
3.72
30.5
4.86
50.5
5.09
70.5
5.18
90.5
5.24
11.0
3.80
31.0
4.87
51.0
5.09
71.0
5.18
91.0
5.24
11.5
3.88
31.5
4.88
51.5
5.09
71.5
5.19
91.5
5.24
12.0
3.96
32.0
4.89
52.0
5.10
72.0
5.19
92.0
5.24
12.5
4.02
32.5
4.90
52.5
5.10
72.5
5.19
92.5
5.24
13.0
4.09
33.0
4.91
53.0
5.10
73.0
5.19
93.0
5.24
13.5
4.14
33.5
4.91
53.5
5.11
73.5
5.19
93.5
5.24
14.0
4.19
34.0
4.92
54.0
5.11
74.0
5.19
94.0
5.24
14.5
4.24
34.5
4.93
54.5
5.11
74.5
5.20
94.5
5.24
15.0
4.28
35.0
4.94
55.0
5.11
75.0
5.20
95.0
5.25
15.5
4.32
35.5
4.94
55.5
5.12
75.5
5.20
95.5
5.25
16.0
4.36
36.0
4.95
56.0
5.12
76.0
5.20
96.0
5.25
16.5
4.40
36.5
4.96
56.5
5.12
76.5
5.20
96.5
5.25
17.0
4.43
37.0
4.96
57.0
5.13
77.0
5.20
97.0
5.25
17.5
4.46
37.5
4.97
57.5
5.13
77.5
5.20
97.5
5.25
18.0
4.48
38.0
4.97
58.0
5.13
78.0
5.21
98.0
5.25
18.5
4.51
38.5
4.98
58.5
5.13
78.5
5.21
98.5
5.25
19.0
4.53
39.0
4.99
59.0
5.14
79.0
5.21
99.0
5.25
19.5
4.56
39.5
4.99
59.5
5.14
79.5
5.21
99.5
5.25
20.0
4.58
40.0
5.00
60.0
5.14
80.0
5.21
100.0
5.25
<!-- PageFooter="Bulletin No. 2014-40" -->
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Section 1298(f) Reporting
Requirements for U.S.
Persons that Hold Stock of
a Passive Foreign
Investment Company that
is Marked to Market Under
Section 475 or Another
Chapter 1 Code Provision
Other Than Section 1296
Notice 2014-51
SECTION 1. PURPOSE
This notice announces that the Depart-
ment of the Treasury (Treasury Depart-
ment) and the Internal Revenue Service
(IRS) will amend the regulations under
section 1298(f) of the Internal Revenue
Code (Code) to provide guidance con-
cerning United States persons (U.S. per-
sons) that hold stock of a passive foreign
investment company within the meaning
of section 1297(a) (PFIC) that is marked
to market under section 475 or another
chapter 1 Code provision other than sec-
tion 1296.
## SECTION 2. BACKGROUND
.01 Sections 1291 Through 1298
Sections 1291 through 1298 set forth
three tax regimes for shareholders that
own stock of a PFIC: (i) the excess distri-
bution rules under section 1291; (ii) the
qualified electing fund (QEF) rules under
section 1293; and (iii) the mark to market
rules under section 1296, which apply
when an election under section 1296(k) is
in effect.
Section 1298(f) provides that, except
as otherwise provided by the Secretary, a
U.S. person that is a shareholder of a PFIC
must file an annual report containing the
information required by the Secretary.
Section 1.1298-1T sets forth the annual
information reporting requirements for
PFIC shareholders. Annual information
reports of PFIC shareholders are provided
on Form 8621, "Information Return by a
Shareholder of a Passive Foreign Invest-
ment Company or Qualified Electing
Fund." Under section 6501(c)(8), the pe-
riod of limitation for assessment of tax
with respect to periods for which report-
ing is required under section 1298(f) will
not expire before three years after the date
on which the IRS receives Form 8621 for
the taxable year.
.02 PFIC Stock Marked to Market
Under Section 475 or Another Chapter 1
Code Provision Other than Section 1296
Section 1291(d)(1) provides that, sub-
ject to the coordination rules provided in
section 1296(j), section 1291 does not ap-
ply if an election under section 1296(k) is
in effect for the taxpayer's taxable year.
Section 1291(d)(1) further provides that,
subject to coordination rules similar to the
rules of section 1296(j), section 1291 also
does not apply in the case of PFIC stock
that is marked to market under any other
provision of chapter 1 of the Code (a
non-section 1296 MTM regime), includ-
ing section 475. The regulations under
section 1291 incorporate these rules, pro-
vide guidance on the coordination rules,
and clarify that the section 1291(d)(1) rule
applies with respect to a non-section 1296
MTM regime regardless of whether the
applicable mark to market regime is man-
datory or elective. § 1.1291-1(c)(4). The
coordination rule relevant to a non-section
1296 MTM regime applies to the first
taxable year in which a U.S. person marks
to market the PFIC stock if, during the
U.S. person's holding period (as defined
in section 1291(a)(3)(A) and § 1.1296-
1(f)), the foreign corporation was a PFIC
for any taxable year prior to such first
taxable year and the corporation was not
treated as a QEF with respect to the U.S.
person. Section 1291(d)(1) and § 1.1291-
1(c)(4)(ii). Subject to this coordination
rule, U.S. persons that hold PFIC stock
that has been marked to market under a
non-section 1296 MTM regime are not
subject to tax under any of the PFIC re-
gimes. See also §§ 1.1295-1(i)(3) and
1.1296-1(h)(3).
For example, in cases in which a U.S.
person properly marks to market under
section 475 its PFIC stock in the first year
and each succeeding year that it holds the
stock, the U.S. person will not be subject
to any of the PFIC regimes with respect to
the stock. Rather, the U.S. person will be
required to report any gain with respect to
the PFIC stock under the rules of section
475. However, a U.S. person that is sub-
ject to section 475 (either because the U.S.
person is a dealer in securities under sec-
tion 475 or has made a valid and timely
election under section 475(f)) may not be
required under section 475 to mark to
market certain stock, such as stock that it
holds for investment or as a hedge. See
section 475(b)(1)(A) and (C). A U.S. per-
son will be subject to tax under the PFIC
regimes with respect to any PFIC stock
that is not marked to market under a non-
section 1296 MTM regime.
### .03 Section 1298(f) Information Reporting Regulations
On December 31, 2013, the Treasury
Department and the IRS published tempo-
rary and proposed regulations under sec-
tions 1291 and 1298 (2014-3 I.R.B. 394),
which included guidance under section
1298(f) on the annual filing requirements
for shareholders of PFICs. § 1.1298-1T.
The regulations generally are effective for
taxable years of shareholders ending on
or after December 31, 2013. § 1.1298-
1T(h).
Under § 1.1298-1T(b), a U.S. person
that directly owns stock in a PFIC or that
is an indirect shareholder of a PFIC gen-
erally is required to file a Form 8621.
Section 1.1298-1T(b) provides certain
exceptions from the information reporting
requirements, including an exception that
can apply when the aggregate value of
PFIC stock held by a shareholder is less
than a specified threshold. §§ 1.1298-
1T(c)(2)(i)(A)(1) and 1.1298-1T(c)(2)(iii).
The § 1.1298-1T regulations do not
provide an exception from the information
reporting requirements for shareholders of
PFIC stock that is marked to market under
a non-section 1296 MTM regime. Thus, a
U.S. person that owns PFIC stock that is
marked to market under a non-section
1296 MTM regime is subject to the gen-
erally applicable rules in § 1.1298-1T
that apply to direct and indirect sharehold-
ers that own PFIC stock.
SECTION 3. SECTION 1298(f)
INFORMATION REPORTING FOR
U.S. PERSONS THAT OWN AN
INTEREST IN A PFIC THAT IS
MARKED TO MARKET UNDER A
NON-SECTION 1296 MTM REGIME
The Treasury Department and the IRS
have determined that a U.S. person that
holds PFIC stock that is marked to market
under a non-section 1296 MTM regime
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generally should not be subject to the re-
porting requirements of § 1.1298-1T with
respect to that stock. Accordingly, the
Treasury Department and the IRS will
amend § 1.1298-1T to provide an excep-
tion from the reporting requirements of
§ 1.1298-1T for a U.S. person with re-
spect to PFIC stock that is marked to
market under a non-section 1296 MTM
regime, except that the exception will not
be available for a taxable year in which
the U.S. person is required to apply the
rules of section 1291 with respect to the
PFIC stock pursuant to the coordination
rules in § 1.1291-1(c)(4)(ii). The excep-
tion from the reporting requirements of
§ 1.1298-1T will not be available to the
extent PFIC stock held by a U.S. person is
not in fact marked to market for any rea-
son, including, for example, because it is
treated as held for investment or as a
hedge under section 475. In addition, the
regulations will be revised to provide that
a shareholder that is not subject to section
1298(f) information reporting with respect
to PFIC stock that is marked to market
under a non-section 1296 MTM regime is
not required to take the value of the stock
into account for purposes of determining
whether it exceeds the relevant threshold
under § 1.1298-1T(c)(2)(i)(A)(1) or
§ 1.1298-1T(c)(2)(iii).
If a U.S. person is not subject to the
reporting requirements of section 1298(f)
with respect to PFIC stock for a taxable
year pursuant to the regulations, the fail-
ure to furnish Form 8621 with respect to
the PFIC stock does not result in the ex-
tension of the period of limitation for the
taxable year under section 6501(c)(8). Ac-
cordingly, the IRS will not assert that the
period of limitation is extended for any
taxable year of any shareholder of PFIC
stock that appropriately relies on the rules
described in this notice prior to the issu-
ance of final regulations.
# SECTION 4. EFFECTIVE DATE
Shareholders may rely on the rules de-
scribed in Section 3 of this notice for their
taxable years ending on or after December
31, 2013. The provisions of the future
final regulations incorporating the guid-
ance described in Section 3 of this notice
will be effective for taxable years of
shareholders ending on or after December
31, 2013.
# SECTION 5. DRAFTING INFORMATION
The principal author of this notice is
Rose E. Jenkins of the Office of Associate
Chief Counsel (International). For further
information regarding this notice contact
Rose E. Jenkins at (202) 317-6934 (not a
toll-free number).
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# Definition of Terms
Revenue rulings and revenue procedures
(hereinafter referred to as "rulings") that
have an effect on previous rulings use the
following defined terms to describe the
effect:
Amplified describes a situation where
no change is being made in a prior pub-
lished position, but the prior position is
being extended to apply to a variation of
the fact situation set forth therein. Thus, if
an earlier ruling held that a principle ap-
plied to A, and the new ruling holds that
the same principle also applies to B, the
earlier ruling is amplified. (Compare with
modified, below).
Clarified is used in those instances
where the language in a prior ruling is
being made clear because the language
has caused, or may cause, some confu-
sion. It is not used where a position in a
prior ruling is being changed.
Distinguished describes a situation
where a ruling mentions a previously pub-
lished ruling and points out an essential
difference between them.
Modified is used where the substance
of a previously published position is being
changed. Thus, if a prior ruling held that a
principle applied to A but not to B, and the
new ruling holds that it applies to both A
and B, the prior ruling is modified because
it corrects a published position. (Compare
with amplified and clarified, above).
Obsoleted describes a previously pub-
lished ruling that is not considered deter-
minative with respect to future transac-
tions. This term is most commonly used in
a ruling that lists previously published rul-
ings that are obsoleted because of changes
in laws or regulations. A ruling may also
be obsoleted because the substance has
been included in regulations subsequently
adopted.
Revoked describes situations where the
position in the previously published ruling
is not correct and the correct position is
being stated in a new ruling.
Superseded describes a situation where
the new ruling does nothing more than
restate the substance and situation of a
previously published ruling (or rulings).
Thus, the term is used to republish under
the 1986 Code and regulations the same
position published under the 1939 Code
and regulations. The term is also used
when it is desired to republish in a single
ruling a series of situations, names, etc.,
that were previously published over a pe-
riod of time in separate rulings. If the new
ruling does more than restate the sub-
stance of a prior ruling, a combination of
terms is used. For example, modified and
superseded describes a situation where the
substance of a previously published ruling
is being changed in part and is continued
without change in part and it is desired to
restate the valid portion of the previously
published ruling in a new ruling that is
self contained. In this case, the previously
published ruling is first modified and then,
as modified, is superseded.
Supplemented is used in situations in
which a list, such as a list of the names of
countries, is published in a ruling and that
list is expanded by adding further names
in subsequent rulings. After the original
ruling has been supplemented several
times, a new ruling may be published that
includes the list in the original ruling and
the additions, and supersedes all prior rul-
ings in the series.
Suspended is used in rare situations to
show that the previous published rulings
will not be applied pending some future
action such as the issuance of new or
amended regulations, the outcome of
cases in litigation, or the outcome of a
Service study.
# Abbreviations
The following abbreviations in current
use and formerly used will appear in ma-
terial published in the Bulletin.
A-Individual.
Acq .- Acquiescence.
B-Individual.
BE-Beneficiary.
F.R .- Federal Register.
FUTA-Federal Unemployment Tax Act.
FX-Foreign corporation.
G.C.M .- Chief Counsel's Memorandum.
GE-Grantee.
GP-General Partner.
GR-Grantor.
COOP-Cooperative.
IC-Insurance Company.
Ct.D .- Court Decision.
I.R.B .- Internal Revenue Bulletin.
CY-County.
LE-Lessee.
TT-Trustee.
D Decedent.
LP-Limited Partner.
LR-Lessor.
X-Corporation.
DE-Donee.
M-Minor.
Nonacq .- Nonacquiescence.
O Organization.
P-Parent Corporation.
PHC-Personal Holding Company.
PO Possession of the U.S.
PR-Partner.
PRS Partnership.
PTE-Prohibited Transaction Exemption.
Pub. L .- Public Law.
REIT-Real Estate Investment Trust.
Rev. Proc .- Revenue Procedure.
Rev. Rul .- Revenue Ruling.
S Subsidiary.
S.P.R .- Statement of Procedural Rules.
Stat .- Statutes at Large.
BK-Bank.
B.T.A .- Board of Tax Appeals.
C-Individual.
C.B .- Cumulative Bulletin.
CFR-Code of Federal Regulations.
CI-City.
T.I.R .- Technical Information Release.
TP-Taxpayer.
TR-Trust.
U.S.C .- United States Code.
DC-Dummy Corporation.
Del. Order-Delegation Order.
DISC-Domestic International Sales Corporation.
DR-Donor.
E-Estate.
EE-Employee.
E.O .- Executive Order.
ER-Employer.
ERISA-Employee Retirement Income Security Act.
EX-Executor.
F-Fiduciary.
FC-Foreign Country.
FICA-Federal Insurance Contributions Act.
FISC-Foreign International Sales Company.
FPH-Foreign Personal Holding Company.
T-Target Corporation.
T.C .- Tax Court.
T.D .- Treasury Decision.
TFE-Transferee.
TFR-Transferor.
Y-Corporation.
Z-Corporation.
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## Numerical Finding List1
Bulletins 2014-27 through 2014-40
### Announcements:
2014-2, 2014-28 I.R.B. 120
2014-28, 2014-34 I.R.B. 391
2014-29, 2014-35 I.R.B. 452
### Notices:
2014-40, 2014-27 I.R.B. 100
2014-41, 2014-27 I.R.B. 97
2014-42, 2014-34 I.R.B. 387
2014-43, 2014-31 I.R.B. 249
2014-44, 2014-32 I.R.B. 270
2014-45, 2014-34 I.R.B. 388
2014-46, 2014-36 I.R.B. 520
2014-47, 2014-36 I.R.B. 522
2014-48, 2014-36 I.R.B. 523
2014-50, 2014-40 I.R.B. 590
2014-51, 2014-40 I.R.B. 594
### Proposed Regulations:
REG-104579-13, 2014-33 I.R.B. 370
REG-120756-13, 2014-31 I.R.B. 252
REG-105067-14, 2014-34 I.R.B. 391
REG-110948-14, 2014-30 I.R.B. 239
REG-121542-14, 2014-28 I.R.B. 119
REG-107012-14, 2014-33 I.R.B. 371
REG-123286-14, 2014-33 I.R.B. 377
REG-209459-78, 2014-31 I.R.B. 253
REG-129507-14, 2014-38 I.R.B. 561
REG-129786-14, 2014-38 I.R.B. 562
## Revenue Procedures:
2014-26, 2014-27 I.R.B. 26
2014-27, 2014-27 I.R.B. 41
2014-29, 2014-28 I.R.B. 105
2014-37, 2014-33 I.R.B. 363
2014-38, 2014-29 I.R.B. 132
2014-39, 2014-29 I.R.B. 151
2014-40, 2014-30 I.R.B. 229
2014-41, 2014-33 I.R.B. 364
2014-42, 2014-29 I.R.B. 193
2014-43, 2014-32 I.R.B. 273
2014-44, 2014-32 I.R.B. 274
2014-45, 2014-34 I.R.B. 388
2014-46, 2014-33 I.R.B. 367
2014-47, 2014-35 I.R.B. 393
2014-48, 2014-36 I.R.B. 527
2014-49, 2014-37 I.R.B. 535
2014-50, 2014-37 I.R.B. 540
2014-51, 2014-37 I.R.B. 543
2014-52, 2014-38 I.R.B. 560
2014-53, 2014-39 I.R.B. 573
## Revenue Rulings:
2014-14, 2014-27 I.R.B.
12
2014-19, 2014-32 I.R.B.
266
2014-20, 2014-28 I.R.B.
101
2014-21, 2014-34 I.R.B.
381
2014-22, 2014-37 I.R.B.
523
2014-23, 2014-40 I.R.B.
575
2014-24, 2014-37 I.R.B.
529
2014-25, 2014-40 I.R.B.
574
## Treasury Decisions:
9664, 2014-32 I.R.B. 254
9668, 2014-27 I.R.B. 1
9669, 2014-28 I.R.B. 103
9670, 2014-29 I.R.B. 121
9671, 2014-29 I.R.B. 124
9672, 2014-30 I.R.B. 196
9673, 2014-30 I.R.B. 212
9674, 2014-30 I.R.B. 225
9675, 2014-31 I.R.B. 242
9676, 2014-32 I.R.B. 260
9677, 2014-31 I.R.B. 241
9678, 2014-32 I.R.B. 262
9679, 2014-32 I.R.B. 267
9680, 2014-32 I.R.B. 254
9681, 2014-33 I.R.B. 340
9682, 2014-33 I.R.B. 342
9683, 2014-33 I.R.B. 330
9684, 2014-33 I.R.B. 345
9685, 2014-34 I.R.B. 379
9686, 2014-34 I.R.B. 382
9687, 2014-36 I.R.B. 486
9688, 2014-36 I.R.B. 482
9689, 2014-36 I.R.B. 456
9690, 2014-38 I.R.B. 548
9691, 2014-38 I.R.B. 547
9692, 2014-40 I.R.B. 574
1A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2014-01 through 2014-26 is in Internal Revenue Bulletin
2014-26, dated June 30, 2014.
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Finding List of Current Actions on Previously Published Items1
Revenue Procedures-Continued: 2011-16
Notices:
2013-11
Bulletins 2014-27 through 2014-40
Modified by
Modified by
Rev. Proc. 2014-51, 2014-51 I.R.B. 543
Notice 2014-48, 2014-36 I.R.B. 523
Announcements:
2012-38
2013-23
Superseded by
Modified by
2012-11
Rev. Proc. 2014-27, 2014-27 I.R.B. 26
Notice 2014-48, 2014-36 I.R.B. 523
Supplemented by
2013-28
Ann. 2014-2, 2014-28 I.R.B. 120
2012-46
Modified by
Superseded by
Notice 2014-48, 2014-36 I.R.B. 523
2013-11
Rev. Proc. 2014-26, 2014-27 I.R.B. 41
Supplemented by
2013-29
Ann. 2014-2, 2014-28 I.R.B. 120
2014-4
Modified by
Amplified by
Notice 2014-46, 2014-36 I.R.B. 520
2010-41
Rev. Proc. 2014-40, 2014-30 I.R.B. 229
Obsoleted by
2013-29
Rev. Proc. 2014-43, 2014-32 I.R.B. 273
2014-5
Clarified by
Amplified by
Notice 2014-46, 2014-36 I.R.B. 520
Rev. Proc. 2014-40, 2014-30 I.R.B. 229
Revenue Procedures:
2013-32
2014-8
Modified by
1981-38
Amplified by
Notice 2014-48, 2014-36 I.R.B. 523
Superseded by
Rev. Proc. 2014-40, 2014-30 I.R.B. 229
2013-37
Rev. Proc. 2014-42, 2014-29 I.R.B. 193
Modified by
2014-9
Notice 2014-48, 2014-36 I.R.B. 523
93-37
Amplified by
Modified and Superseded by
Rev. Proc. 2014-40, 2014-30 I.R.B. 229
2013-51
Rev. Proc. 2014-43, 2014-32 I.R.B. 273
Obsoleted by
2014-10
Notice 2014-42, 2014-34 I.R.B. 387
1981-38
Amplified by
Modified by
Rev. Proc. 2014-40, 2014-30 I.R.B. 229
2013-60
Rev. Proc. 2014-42, 2014-29 I.R.B. 193
2014-13
Modified by Notice 2014-46, 2014-36 I.R.B. 520
2000-12
Modified by
2013-60
Superseded by
Rev. Proc. 2014-38, 2014-29 I.R.B. 132
Clarified by
Rev. Proc. 2014-39, 2014-29 I.R.B. 151
2014-13
Notice 2014-46, 2014-36 I.R.B. 520
2002-55
Superseded by
2014-44
Rev. Proc. 2014-38, 2014-29 I.R.B. 132
Supplemented by
Revoked by
Rev. Proc. 2014-39, 2014-29 I.R.B. 151
2014-16
Notice 2014-45, 2014-34 I.R.B. 388
Superseded by
Treasury Decisions:
2003-64
Rev. Proc. 2014-51, 2014-37 I.R.B. 543
Superseded by
2005-47
Rev. Proc. 2014-47, 2014-35 I.R.B. 393
2014-16
Obsoleted by
Modified by
T.D. 9668 2014-27 I.R.B. 1
2004-21
Rev. Proc. 2014-51, 2014-37 I.R.B. 543
Superseded by
2010-51
Rev. Proc. 2014-47, 2014-35 I.R.B. 393
Revenue Rulings:
Obsoleted by T.D. 9684 2014-33 I.R.B. 345
2005-77
2008-40
2010-71
Superseded by Rev. Proc. 2014-47, 2014-35 I.R.B. 393
Modified by Rev. Rul. 2014-24, 2014-37 I.R.B. 529
Obsoleted by T.D. 9684 2014-33 I.R.B. 345
2011-14
2011-1
2011-6
Modified by
Modified by
Obsoleted by
Rev. Proc. 2014-48, 2014-36 I.R.B. 527
Rev. Rul. 2014-24, 2014-37 I.R.B. 529
T.D. 9684 2014-33 I.R.B. 345
2011-16
2012-6
2011-9
Superseded by
Modified by
Obsoleted by
Rev. Proc. 2014-51, 2014-37 I.R.B. 543
Rev. Rul. 2014-24, 2014-37 I.R.B. 529
T.D. 9684 2014-33 I.R.B. 345
1A cumulative list of current actions on previously published items in Internal Revenue Bulletins 2014-01 through 2014-26 is in Internal Revenue Bulletin 2014-26, dated June 30, 2014.
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<!-- PageHeader="INDEX" -->
### Internal Revenue Bulletins 2014-27 through 2014-40
The abbreviation and number in parenthesis following the index
entry refer to the specific item; numbers in roman and italic type
following the parentheses refer to the Internal Revenue Bulletin in
which the item may be found and the page number on which it
appears.
Key to Abbreviations:
Ann
Announcement
CD
Court Decision
DO
Delegation Order
EO
Executive Order
PL
Public Law
PTE
Prohibited Transaction Exemption
RP
Revenue Procedure
RR
Revenue Ruling
SPR
Statement of Procedural Rules
TC
Tax Convention
TD
Treasury Decision
TDO
Treasury Department Order
## ADMINISTRATIVE
AJCA-Section 6707 and the Penalty for Failure to Furnish
Information Regarding Reportable Transactions by Material
Advisors (TD 9686) 34, 382
Announcement to Discontinue the Internal Revenue Bulletin
Index (Ann 27) 28, 120
Annual Filing Season Program (RP 42) 29, 193
Disclosure to Census Bureau (REG-120756-13) 31, 252
Disclosure to Census Bureau (TD 9677) 31, 241
Information reporting by passport applicants (TD 9679) 32, 267
Low-Income Housing Tax Credit (RP 52) 38, 560
Procedures to void backup withholding (RP 43) 32, 273
Proposed Regulations:
26 CFR part 301 is amended, section 301.6103(j)(1)-1 is
amended, section 301.6103(j)(1)-1T added (REG-
120756-13) 31, 252
Regulations Governing Practice Before the Internal Revenue
Service (REG-138367-06) (TD 9668) 27, 1
Regulations:
31 CFR 10.1, revised; 10.3, revised; 10.22, revised; 10.31,
revised; 10.35, revised; 10.36, revised; 10.37, revised;
10.52, revised; 10.81, revised; 10.82, revised; 10.91, re-
vised. (TD 9668) 27, 1
26 CFR 301.6109-4, added; 1.6042-4, amended; 1.6043-4,
amended; 1.6044-5, amended; 1.6045-2, amended;
1.6045-3, amended; 1.6045-4, amended; 1.6045-5,
amended; 1.6049-6, amended; 1.6050A-1, amended;
1.6050E-1, amended; 1.6050N-1, amended; 1.6050P-1,
amended; 1.6050S-1, amended; 1.6050S-3, amended (TD
9675) 31, 242
26 CFR part 301 is amended, section 301.6103(j)(1)-1 is
amended, section 301.6103(j)(1)-1T added (TD 9677) 31,
241
# ADMINISTRATIVE-Cont.
26 CFR part 301, amended; 26 CFR 301.6039E-1 added (TD
9679) 32, 267
26 CFR 301.6707-1, added; 301.6707-1T, removed; Rev.
Proc. 2007-21, sections 4.04, 4.05, and 4.06 superseded;
material advisor penalty for failure to furnish informa-
tion regarding reportable transactions (TD 9686) 34, 382
Substitute Forms Preparation for Certain Information Returns
(RP 27) 27, 41
Substitute Forms Preparation for Certain Information Returns
(RP 44) 32, 274
Truncated Taxpayer Identification Numbers (TD 9675) 31, 242
# EMPLOYEE PLANS
Group Trusts (RR 24) 37, 529
Individual Retirement Account Rollover Limitations (REG-
209459-78) 31, 253
Longevity Annuity Contracts (TD 9673) 30, 212
Proposed Regulations:
26 CFR 408, Individual Retirement Accounts (REG-209459-
78) 31, 253
Regulations:
26 CFR 54.9815-2708, as amended (TD 9671) 29, 174
26 CFR 1.401(a)(9)-5, amended; 1.401(a)(9)-6, amended;
1.403(b)-6, amended; 1.408-8, amended; 1.408A-6,
amended; 1.6047-2, added (TD 9673) 30, 212
Rules relating to 90 day waiting period limitation (TD 9671) 29,
174
Weighted average interest rates
Segment rates for June 2014 (Notice 41) 27, 97
Segment rates for July 2014 (Notice 43) 31, 249
Segment rates for August 2014 (Notice 48) 36, 523
Segment rates for September 2014 (Notice 50) 40, 590
# EMPLOYMENT TAX
Extending religious and family member FICA and FUTA excep-
tions to disregarded entities; regulations regarding the indoor
tanning services excise tax and disregarded entities (TD 9670)
29, 121
Method of accounting for gains and losses on shares in certain
money market funds; broker returns with respect to sales of
shares in money market funds (REG-107012-14) 33, 371
Publications:
1223, General Rules and Specifications for Substitute Forms
W-2c and W-3c (RP29) 28, 105
4436, General Rules and Specifications for Substitute Form
941 and Schedule B (Form 941), and Schedule R (RP 26)
27, 26
Summons Interview Regulations Under Section 7602 (REG-
121542-14) (TD 9669) 28, 103
Regulations:
26 CFR 301.7602-1 is amended to add new paragraph (b)(3)
pertaining to summons interviews. (TD 9669) 28, 103
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# EMPLOYMENT TAX-Cont.
26 CFR 1.1361-4, amended; 1.1361-4T, removed;
31.3121(b)(3)-1, amended; 31.3121(b)(3)-1T, removed;
31.3127-1, added; 31.3127-1T, removed;
31.3306(c)(5)-1, amended; 31.3306(c)(5)-1T, removed;
301.7701-2, amended; 301.7701-2T, removed; extending
religious and family member FICA and FUTA exceptions
to disregarded entities; regulations regarding the indoor
tanning services excise tax and disregarded entities (TD
9670) 29, 121
26 CFR 1.446-7 added; 1.6045-1 amended; method of ac-
counting for gains and losses on shares in certain money
market funds; broker returns with respect to sales of shares
in money market funds (REG-107012-14) 33, 371
# ESTATE TAX
Section 2032A .- Valuation of Certain Farm, Etc., Real Property
(RR 21) 34, 381
Summons Interview Regulations Under Section 7602 (REG-
121542-14) (TD 9669) 28, 103
Regulations:
26 CFR 301.7602-1 is amended to add new paragraph (b)(3)
pertaining to summons interviews. (TD 9669) 28, 103
# EXCISE TAX
Alternative process for religious objections to providing contra-
ceptive coverage under section 9815 (REG-129507-14) 38,
561
Alternative process for religious objections to providing contra-
ceptive coverage under section 9815 (TD 9690) 38, 548
Branded Prescription Drug Fee (REG-123286-14) 33, 377
Branded Prescription Drug Fee (TD 9684) 33, 245
Branded Prescription Drug Fee (Notice 42) 34, 387
Definition of "eligible organization" under section 9815, regard-
ing coverage of preventive services, including contraceptive
coverage (REG-129786-14) 38, 562
Extending religious and family member FICA and FUTA excep-
tions to disregarded entities; regulations regarding the indoor
tanning services excise tax and disregarded entities (TD 9670)
29, 121
Section 9010 of the ACA; health insurance providers fee (Notice
47) 36, 522
Summons Interview Regulations Under Section 7602 (REG-
121542-14) (TD 9669) 28, 103
Proposed Regulations:
26 CFR 54.9815-2713A is revised; accommodations in con-
nection with coverage of preventive health services under
section 9815 (REG-129507-14) 38, 561
26 CFR 54.9815-2713A(a) amended; accommodations in
connection with coverage of preventive health services
under section 9815 (REG-129786-14) 38, 562
Regulations:
26 CFR 301.7602-1 is amended to add new paragraph (b)(3)
pertaining to summons interviews. (TD 9669) 28, 103
# EXCISE TAX-Cont.
26 CFR 1.1361-4, amended; 1.1361-4T, removed;
31.3121(b)(3)-1, amended; 31.3121(b)(3)-1T, removed;
31.3127-1, added; 31.3127-1T, removed;
31.3306(c)(5)-1, amended; 31.3306(c)(5)-1T, removed;
301.7701-2, amended; 301.7701-2T, removed; extending
religious and family member FICA and FUTA exceptions
to disregarded entities; regulations regarding the indoor
tanning services excise tax and disregarded entities (TD
9670) 29, 121
26 CFR 54.9815-2708, as amended (TD 9671) 29, 121
26 CFR 51.2(e)(3), amended; (REG-123286-14) 33, 377
26 CFR 54.9815-2713A(b), (c)(1), and (c)(2)(i) introductory
text amended; 54.9815-2713A(f) and 54.9815-2713AT
added; accommodations in connection with coverage of
preventive health services under section 9815 (TD 9690)
38, 548
Rules relating to 90 day waiting period limitation (TD 9671) 29,
121
# EXEMPT ORGANIZATIONS
Streamlined Application for Recognition of Exemption Under
Section 501(c)(3) (RP 2014-40) 30, 229
Streamlined process for 501(c)(3) recognition (REG-110948-
14) 30, 225
Streamlined process for 501(c)(3) recognition (TD 9674) 30, 225
Regulations:
26 CFR 1.501(c)-1 amended 1. 501(a)-1T added;
1.501(c)(3)-1 amended, 1.501(c)(3)-1T added; and
1.508-1 amended, 1.508-1T added (REG-110948-
14)(TD 9674) 30, 225
# GIFT TAX
Summons Interview Regulations Under Section 7602 (REG-
121542-14) (TD 9669) 28, 103
Regulations:
26 CFR 301.7602-1 is amended to add new paragraph (b)(3)
pertaining to summons interviews (REG-121542-14) (TD
9669) 28, 103
# INCOME TAX
Accounting method change, retail inventory method (RP 48) 36,
132
AJCA-Section 6707 and the Penalty for Failure to Furnish
Information Regarding Reportable Transactions by Material
Advisors (TD 9686) 34, 382
Allocation and Apportionment of Interest Expense (TD 9676)
32, 260
Awards for Information Relating to Detecting Underpayments of
Tax or Violations of the Internal Revenue Laws (TD 9687) 36,
486
Basis of indebtedness of S corporations to their shareholders (TD
9682) 33, 342
Credit for carbon dioxide Sequestration (Notice 40) 27, 100
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# INCOME TAX-Cont.
Debt that is a position in personal property that is part of a
straddle (TD 9691) 38, 547
Disciplinary actions involving attorneys, certified public accoun-
tants, enrolled agents, and enrolled actuaries, enrolled retire-
ment plan agents, and appraisers (Ann 29) 35, 452
Disclosure to Census Bureau (REG-120756-13) 31, 252
Disclosure to Census Bureau (TD 9677) 31, 241
Dispositions of property subject to depreciation under section
168 (TD 9689) 36, 456
FFI Agreement for Participating FFI and Reporting Model 2 FFI
(RP 38) 29, 132
Foreign Earned Income Exclusion (Ann 2014-28) 34, 391
Foreign tax credit guidance under section 901 (m) (Notice 44)
32, 391
Foreign tax credit guidance under section 901 (m) (Notice 45)
34, 270
Information reporting by passport applicants (TD 9679) 32, 267
Insurance; effectively connected income (RP 53) 39, 573
Interest:
Investment:
Federal short-term, mid-term, and long-term rates for: July
2014 (RR 20) 28, 101
Federal short-term, mid-term, and long-term rates for: Au-
gust 2014 (RR 19) 32, 266
Federal short-term, mid-term, and long-term rates for: Sep-
tember 2014 (RR 22) 37, 533
Money market funds and the wash sale rules (RP 45) 34, 388
Premium Tax Credit (REG-104579-13) 33, 370
Premium Tax Credit (RP 37) 33, 363
Premium Tax Credit (RP 41) 33, 364
Premium Tax Credit (TD 9683) 33, 330
Production Tax Credit, Investment Tax Credit, Beginning of
Construction (Notice 46) 36, 520
Proposed Regulations:
26 CFR part 301 is amended, section 301.6103(j)(1)-1 is
amended, section 301.6103(j)(1)-1T added (REG-
120756-13) 31, 252
26 C.F.R. 1.382-3(j)(17), modified; 1.382-3T(j)(17), added,
segregation rules for public groups of shareholders (REG-
105067-14) 34, 391
Publications:
1223, General Rules and Specifications for Substitute Forms
W-2c and W-3c (RP 29) 28, 105
4436, General Rules and Specifications for Substitute Form
941 and Schedule B (Form 941), and Schedule R (RP 26)
27, 26
Qualified Intermediary (QI) Agreement (RP 39) 29, 151
Qualified residential rental projects (RP-105272-13) (RP 50) 37, 540
Regulations:
31 CFR 10.1, revised; 10.3, revised; 10.22, revised; 10.31,
revised; 10.35, revised; 10.36, revised; 10.37, revised;
10.52, revised; 10.81, revised; 10.82, revised; 10.91, re-
vised (TD 9668) 27, 1
26 CFR 301.7602-1 is amended to add new paragraph (b)(3)
pertaining to summons interviews (REG-121542-14) (TD
9669) 28, 103
# INCOME TAX-Cont.
26 CFR 1.45R-0, added; 1.45R-1, added; 1.45R-2, added;
1.45R-3, added; 1.45R-4, added; 1.45R-5, added; tax
credit for employee health insurance expenses of small
employers (TD 9672) 30, 196
26 CFR 301.6109-4, added; 1.6042-4, amended; 1.6043-4,
amended; 1.6044-5, amended; 1.6045-2, amended;
1.6045-3, amended; 1.6045-4, amended; 1.6045-5,
amended; 1.6049-6, amended; 1.6050A-1, amended;
1.6050E-1, amended; 1.6050N-1, amended; 1.6050P-1,
amended; 1.6050S-1, amended; 1.6050S-3, amended (TD
9675) 31, 242
26 CFR 1.67-4, amended (TD 9667) 32, 254
26 CFR part 301 is amended, section 301.6103(j)(1)-1 is
amended, section 301.6103(j)(1)-1T added (TD 9677) 31,
241
26 CFR 1.861-9 amended, 1.861-11 amended; (TD 9676) 32,
260
26 CFR 1.1092(b)-6, added; 1.1092(b)-6T, removed;
1.1092(b)-3T, amended; (TD 9678) 32, 262
26 CFR part 301, amended; 26 CFR 301.6039E-1 added (TD
9679) 32, 267
26 CFR 1.174-2 amended; (TD 9680) 32, 254
26 CFR 1.36B-2T, 26 CFR 1.36B-3T, 1.36B-4T, added; 26
CFR 1.36B-2, 26 CFR 1.36B-3\\, 1.36B-4, amended; 26
CFR 1.162(1)-1 and 26 CFR 1.162(1)-1T, added. (REG-
104579-13) 33, 370
26 CFR 1.195-2, added; 26 CFR 1.708-1, amended; 26 CFR
1.709-1, amended. (TD 9681) 33, 340
26 CFR 1.1366-2(a), added new paragraph (a)(2) and moved
current (a)(2) through (a)(6) to (a)(3) through (a)(7), re-
spectively; basis of indebtedness of S corporations to their
shareholders (TD 9682) 33, 342
26 CFR 1.36B-2T, 26 CFR 1.36B-3T, 1.36B-4T added, 26
CFR 1.36B-2, 26 CFR 1.36B-3\\, 1.36B-4, amended, 26
CFR 1.162(1)-1 and 26 CFR 1.162(1)-1T added, (TD
9683) 33, 330
26 C.F.R. 1.382-3(j)(17), modified; 1.382-3T(j)(17), added,
segregation rules for public groups of shareholders (TD
9685) 34, 379
26 CFR 301.6707-1, added; 301.6707-1T, removed; Rev.
Proc. 2007-21, sections 4.04, 4.05, and 4.06 superseded;
material advisor penalty for failure to furnish information
regarding reportable transactions (TD 9686) 34, 382
26 CFR 301.7623-1, revised; 26 CFR 301.7623-4, added; 26
CFR 301.7623-2, added; 26 CFR 301.6103(h)(4)-1, added
26 CFR 301.7623-3, added; (TD 9687) 36, 486
26 CFR 1.471-8 amended (TD 9688) 36, 482
26 CFR 1.168(i)-8 added; 1.165-2, 1.168(i)-0, 1.168(i)-1,
1.168(i)-7, 1.263(a)-3, 1.1016-3 amended; 1.168(i)-0T,
1.168(i)-1T, 1.168(i)-8T removed; dispositions of prop-
erty subject to depreciation under section 168 (TD 9689)
36, 456
26 CFR 1.1092(d)-1, amended; 1.1092(d)-1T, removed; debt
that is a position in personal property that is part of a
straddle (TD 9691) 38, 547
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# INCOME TAX-Cont.
Regulations Governing Practice Before the Internal Revenue
Service (REG-138367-06) (TD 9668) 27, 1
REIT Distressed Debt (RP 51) 37, 543
Research and experimental expenditures (TD 9680) 32, 254
Retail inventory method (TD 9688) 36, 482
Tax Credit for Employee Health Insurance Expenses of Small
Employers (TD 9672) 30, 196
Temporary relief from certain requirements of § 42 (Rev. Proc.
2014-39) (RP 49) 37, 535
Truncated Taxpayer Identification Numbers (TD 9675) 31, 242
Section 67 Limitations on Estates or Trusts; Change of Effective
Date (TD 9664) 32, 254
Section 1298(f) Reporting Requirements for U.S. Persons that
Hold Stock of a Passive Foreign Investment Company that is
Marked to Market Under Section 475 or Another Chapter 1
Code Provision Other Than Section 1296 (Notice 51) 40, 594
Section 5000A national average premium for a bronze level of
coverage (RP 46) 33, 367
Segregation rules for public groups of shareholders, (REG-
105067-14) 34, 391
Segregation rules for public groups of shareholders, (TD 9685) 34, 379
Standard Industry Fare Level (RR 2014-25) 40, 574
Substitute Forms Preparation for Certain Information Returns
(RP 27) 27, 379
Substitute Forms Preparation for Certain Information Returns
(RP 44) 32, 41
Summons Interview Regulations Under Section 7602 (REG-
121542-14) (TD 9669) 28, 103
Unamortized organization and syndication expenses following a
partnership technical termination (TD 9681) 33, 340
Underpayment and overpayments, quarter beginning: July 1,
2014 (RR 14) 27, 12
Underpayment and overpayments, quarter beginning: October 1,
2014 (RR 23) 40, 575
Unrealized gain or loss treatment upon establishment of an
identified mixed straddle (TD 9678) 32, 262
Voluntary withholding(TD-9692) 40, 574
26 CFR 31.3402(p)-1, section (c) added (TD 9692) 40, 574
Withholding Foreign Partnership and Trust Agreements (RP 47)
35, 393
# SELF-EMPLOYMENT TAX
Extending religious and family member FICA and FUTA excep-
tions to disregarded entities; regulations regarding the indoor tan-
ning services excise tax and disregarded entities (TD 9670) 29, 121
Regulations:
26 CFR 1.1361-4, amended; 1.1361-4T, removed;
31.3121(b)(3)-1, amended; 31.3121(b)(3)-1T, removed;
31.3127-1, added; 31.3127-1T, removed;
31.3306(c)(5)-1, amended; 31.3306(c)(5)-1T, removed;
301.7701-2, amended; 301.7701-2T, removed; extending
religious and family member FICA and FUTA exceptions
to disregarded entities; regulations regarding the indoor
tanning services excise tax and disregarded entities (TD
9670) 29, 121
# SPECIAL ANNOUNCEMENT
Annual Filing Season Program (RP 42) 29, 193
Procedures to Avoid Backup Withholding (RP 43) 32, 273
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# INTERNAL REVENUE BULLETIN
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or by calling 1-877-233-6767. The first release is available in mid-December and the final release is available in late January.
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