[December 11, 2006 (Volume 71, Number 237)] [Unified Agenda] From the Federal Register Online via GPO Access [frwais.access.gpo.gov] [DOCID: f:ua061016.wais] [Page 73676-73798] Department of the Treasury ----------------------------------------------------------------------- Part XVI ----------------------------------------------------------------------- Semiannual Regulatory Agenda [[Page 73676]] DEPARTMENT OF THE TREASURY (TREAS) _______________________________________________________________________ DEPARTMENT OF THE TREASURY 31 CFR Subtitle A, Chs. I and II Semiannual Agenda and Fiscal Year 2007 Regulatory Plan AGENCY: Department of the Treasury. ACTION: Semiannual regulatory agenda and annual regulatory plan. _______________________________________________________________________ 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. E.O. 12866 also requires the publication by the Department of a regulatory plan for fiscal year 2007. 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 U.S. 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 now listed in the semiannual regulatory agenda of the Departmental Offices of the Department of the Treasury. Because of 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. For this edition of Treasury's regulatory agenda, one regulation to be issued jointly by the Office of the Comptroller of the Currency and the Office of Thrift Supervision (together with the other bank regulators), is included in The Regulatory Plan, which appears in part II of this issue of the Federal Register. The entries for this regulation are listed in the table of contents below and are denoted by a bracketed bold reference, which directs the reader to the appropriate sequence number in part II. The semiannual agenda and The Regulatory Plan of the Department of the Treasury conform to the Unified Agenda format developed by the Regulatory Information Service Center (RISC). Dated: September 15, 2006. Richard S. Carro, Senior advisor to the General Counsel for Regulatory Affairs. Departmental Offices--Proposed Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2394 Terrorism Risk Insurance Program; Recoupments of Federal Share of Compensation for 1505-AB10 Insured Losses........................................................................ 2395 19 CFR 111 Remote Location Filing..................................................... 1505-AB20 2396 Expanded Methods of Payment of Duties, Taxes, Interest, and Fees...................... 1505-AB22 2397 Uniform Rules of Origin............................................................... 1505-AB49 2398 Revision of Outbound Redelivery Procedures and Liabilities............................ 1505-AB52 2399 19 CFR 101 Centralization of the Continuous Bond Program at the CBP National Finance 1505-AB54 Center................................................................................ 2400 19 CFR 177 Administrative Rulings and Protests........................................ 1505-AB65 2401 Foreign Repairs to American Vessels; Consolidation of Vessel Repair Units............. 1505-AB71 ---------------------------------------------------------------------------------------------------------------- Departmental Offices--Final Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2402 31 CFR 501 Reporting and Procedures Regulations; Cuban Assets Control Regulations: 1505-AA95 Publication of Economic Sanctions Enforcement Guidelines.............................. 2403 Country-of-Origin Marking............................................................. 1505-AB21 2404 19 CFR 4 User and Navigation Fees; Other Reimbursable Charges......................... 1505-AB24 2405 19 CFR 10 African Growth and Opportunity Act and Generalized System of Preferences.... 1505-AB26 2406 19 CFR 10 United States-Caribbean Basin Trade Partnership Act and Caribbean Basin 1505-AB28 Initiative............................................................................ 2407 19 CFR 24 Reimbursable Customs Inspectional Services--Increase in Hourly Rate Charge.. 1505-AB29 [[Page 73677]] 2408 19 CFR 12 Dog and Cat Protection Act.................................................. 1505-AB31 2409 Trade Benefits Under the African Growth and Opportunity Act........................... 1505-AB38 2410 19 CFR 24 Fees for Customs Processing at Express Consignment Carrier Facilities....... 1505-AB39 2411 Trade Benefits Under the Caribbean Basin Economic Recovery Act........................ 1505-AB40 2412 19 CFR 10 United States--Chile Free Trade Agreement................................... 1505-AB47 2413 19 CFR 10 United States--Singapore Free Trade Agreement............................... 1505-AB48 2414 Recordation of Copyrights and Enforcement Procedures To Prevent Importation of 1505-AB51 Piratical Articles.................................................................... 2415 19 CFR 141 Conditional Release Period and Customs Bond Obligations for Food, Drugs, 1505-AB57 Devices, and Cosmetics (Section 610 Review)........................................... 2416 NAFTA: Merchandise Processing Fee Exemption and Technical Corrections................. 1505-AB58 2417 19 CFR 12 Country of Origin of Textile and Apparel Products........................... 1505-AB60 2418 Fees for Certain Services............................................................. 1505-AB62 2419 Dominican Republic-Central America-United States Free Trade Agreement................. 1505-AB64 2420 19 CFR 12.155 Entry of Certain Cement Products From Mexico Requiring a Commerce 1505-AB68 Department Import License............................................................. 2421 Economic Sanctions Enforcement Procedures for Banking Institutions.................... 1505-AB69 ---------------------------------------------------------------------------------------------------------------- Departmental Offices--Long-Term Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2422 31 CFR ch II Possible Regulation of Access to Accounts at Financial Institutions 1505-AA74 Through Payment Service Providers..................................................... 2423 Financial Subsidiaries................................................................ 1505-AA81 2424 12 CFR 1501.2 Secretary's Determination of Real Estate Brokerage...................... 1505-AA84 2425 19 CFR 4 Harbor Maintenance Fee....................................................... 1505-AB11 2426 Donated Cargo Exemption From Harbor Maintenance Fee................................... 1505-AB12 2427 19 CFR 142 Reconciliation............................................................. 1505-AB16 2428 19 CFR 181 North American Free Trade Agreement (NAFTA)--Implementation of Duty- 1505-AB17 Deferral Program Provisions........................................................... ---------------------------------------------------------------------------------------------------------------- Departmental Offices--Completed Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2429 19 CFR 141 Single Entry for Unassembled or Disassembled Entities Imported on Multiple 1505-AB34 Conveyances........................................................................... 2430 19 CFR 10 Implementation of the Andean Trade Promotion and Drug Eradication Act....... 1505-AB37 2431 Terrorism Risk Insurance Program; TRIA Extension Act Implementation................... 1505-AB66 2432 Terrorism Risk Insurance Program; TRIA Extension Act Implementation................... 1505-AB67 2433 17 CFR 400 Government Securities Act Regulations: Applicability to Over-the-Counter 1505-AB70 Derivatives Dealers................................................................... 2434 19 CFR 12.104g(a) Import Restrictions on Byzantine Ecclesiastical and Ritual 1505-AB72 Ethnological Material from Cyprus..................................................... ---------------------------------------------------------------------------------------------------------------- Financial Crimes Enforcement Network--Prerule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2435 Customer Identification Programs for Pawn Brokers..................................... 1506-AA39 2436 Provision of Banking Services to Money Services Businesses............................ 1506-AA85 ---------------------------------------------------------------------------------------------------------------- [[Page 73678]] Financial Crimes Enforcement Network--Proposed Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2437 Customer Identification Programs for Travel Agents.................................... 1506-AA38 2438 Customer Identification Programs for Loan and Finance Companies....................... 1506-AA40 2439 Customer Identification Programs for Sellers of Vehicles.............................. 1506-AA41 2440 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering 1506-AA73 Programs for Loan and Finance Companies............................................... 2441 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering 1506-AA80 Programs for Businesses Engaged in Vehicle Sales, Including Automobile, Airplane, and Boat Sales............................................................................ 2442 Amendments to Bank Secrecy Act Regulations--Casino Recordkeeping and Reporting 1506-AA84 Requirements.......................................................................... ---------------------------------------------------------------------------------------------------------------- Financial Crimes Enforcement Network--Final Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2443 31 CFR 103 Amendment to the Bank Secrecy Act Regulations Regarding Reporting of Cross- 1506-AA15 Border Transportation of Certain Monetary Instruments................................. 2444 31 CFR 103 Amendment to the Bank Secrecy Act Regulations--Exemptions From the 1506-AA23 Requirement To Report Transactions in Currency........................................ 2445 31 CFR 103.30 Amendment to the Bank Secrecy Act Regulations--Requirement That 1506-AA25 Nonfinancial Trades or Businesses Report Certain Currency Transactions................ 2446 31 CFR 103.121 Customer Identification Programs for Banks, Savings Associations, and 1506-AA31 Credit Unions......................................................................... 2447 31 CFR 103.15 Amendment to the Bank Secrecy Act Regulations--Requirement That Mutual 1506-AA37 Funds Report Suspicious Transactions.................................................. 2448 31 CFR 103.184 Imposition of Special Measures Against the Country of Nauru............ 1506-AA43 2449 Financial Crimes Enforcement; Amendments to the Bank Secrecy Act Regulations-- 1506-AA61 Nomenclature Changes.................................................................. 2450 Imposition of Special Measures Against the Commercial Bank of Syria as a Financial 1506-AA64 Institution of Primary Money Laundering Concern....................................... 2451 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............................................. 2452 Imposition of Special Measure Against Infobank as a Financial Institution of Primary 1506-AA67 Money Laundering Concern.............................................................. 2453 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering 1506-AA68 Programs for Mutual Funds............................................................. 2454 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering 1506-AA69 Programs for Travel Agencies.......................................................... 2455 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering 1506-AA71 Programs for Investment Advisors...................................................... 2456 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering 1506-AA72 Programs for Financial Institutions................................................... 2457 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering 1506-AA74 Programs for Money Services Businesses................................................ 2458 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering 1506-AA75 Programs for Commodity Trading Advisors............................................... 2459 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering 1506-AA76 Programs for Operators of a Credit Card System........................................ 2460 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering 1506-AA77 Programs for Unregistered Investment Companies........................................ 2461 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering 1506-AA78 Programs for Dealers in Precious Metals, Stones, or Jewels............................ 2462 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations--Anti-Money Laundering 1506-AA79 Programs for Persons Involved in Real Estate Closings and Settlements................. 2463 Amendment to the Bank Secrecy Act Regulations-Imposition of Special Measure Against 1506-AA83 Banco Delta Asia SARL................................................................. 2464 31 CFR 103 Threshold for the Requirement To Collect Retain and Transmit Information on 1506-AA86 Funds Transfer and Transmittal of Funds............................................... ---------------------------------------------------------------------------------------------------------------- [[Page 73679]] Financial Crimes Enforcement Network--Long-Term Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2465 31 CFR 103 Amendments to the Bank Secrecy Act Regulations--Special Reporting and 1506-AA19 Recordkeeping Requirements--Money Services Businesses (MSBs).......................... ---------------------------------------------------------------------------------------------------------------- Financial Management Service--Proposed Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2466 31 CFR 245 Claims on Account of Treasury Checks....................................... 1510-AA51 2467 31 CFR 208 Management of Federal Agency Disbursements and Automated Clearing House 1510-AB00 (ACH)................................................................................. 2468 Rules and Procedures for Efficient Federal-State Funds Transfers...................... 1510-AB12 ---------------------------------------------------------------------------------------------------------------- Financial Management Service--Final Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2469 31 CFR 901.9 Federal Claims Collection Standard--Collection by Installments........... 1510-AA91 2470 Payment of Federal Taxes and the Treasury Tax and Loan Program........................ 1510-AB01 2471 Administrative Offset and Claims Collection Under Reciprocal Agreements With States... 1510-AB09 2472 Depositaries and Financial Agents of the Federal Government........................... 1510-AB10 2473 Payment of Federal Taxes and the Treasury Loan Program................................ 1510-AB11 ---------------------------------------------------------------------------------------------------------------- Financial Management Service--Completed Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2474 31 CFR 256 Obtaining Payments from the Judgment Fund and Under Private Relief Bills... 1510-AA52 2475 Offset of Federal Payments To Collect Past-Due Legally Enforceable Nontax Debt........ 1510-AB05 2476 Management of Federal Agency Disbursements............................................ 1510-AB07 2477 Federal Process Agents of Surety Companies............................................ 1510-AB08 ---------------------------------------------------------------------------------------------------------------- Alcohol and Tobacco Tax and Trade Bureau--Prerule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2478 Proposed Revisions to the Beer Regulations............................................ 1513-AB05 2479 Use of Various Winemaking Terms on Wine Labels and in Advertisements; Request for 1513-AB24 Public Comment........................................................................ ---------------------------------------------------------------------------------------------------------------- Alcohol and Tobacco Tax and Trade Bureau--Proposed Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2480 27 CFR 4 Prohibition of Alcohol Beverage Containers and Standard of Fill for Distilled 1513-AA07 Spirits and Wine...................................................................... 2481 Denatured Spirits, Articles, and Nonbeverage Products................................. 1513-AB03 2482 Labeling and Advertising of Wines, Distilled Spirits, and Malt Beverages.............. 1513-AB07 2483 Alternating Brewery Proprietors....................................................... 1513-AB09 2484 Use of the Word ``Pure'' or Its Variants in the Labeling and Advertising of Alcohol 1513-AB16 Beverages............................................................................. 2485 Lehigh Valley......................................................................... 1513-AB19 2486 Swan Creek............................................................................ 1513-AB20 2487 San Francisco Bay Expansion........................................................... 1513-AB21 [[Page 73680]] 2488 Proposed Establishment of the Tulocay Viticultural Area............................... 1513-AB26 2489 Proposed Establishment of the Paso Robles Westside Viticultural Area.................. 1513-AB27 2490 Proposed Expansion of the Santa Maria Valley Viticultural Area........................ 1513-AB31 2491 Proposed Amendment to the Standards of Identity for Distilled Spirits................. 1513-AB33 2492 Modification of Mandatory Label Information for Wine.................................. 1513-AB36 2493 Firearms and Ammunition Excise Taxes, Consignment Sales of Imported Articles.......... 1513-AB12 2494 Tax Classification of Cigars and Cigarettes........................................... 1513-AB34 2495 27 CFR 252 Exportation of Liquors..................................................... 1513-AA00 2496 27 CFR 270 Determination of Tax and Recordkeeping on Large Cigars..................... 1513-AA16 2497 27 CFR 4 Proposed Addition of New Grape Variety Names for American Wines.............. 1513-AA42 2498 27 CFR 9 Petition To Establish ``Santa Maria Bench'' as a New American Viticultural 1513-AA51 Area.................................................................................. 2499 Form TTB F 5100.51, Formula and Process for Domestic and Imported Alcohol Beverages... 1513-AB28 2500 Nonbeverage Product Formulas.......................................................... 1513-AB35 2501 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 ---------------------------------------------------------------------------------------------------------------- 2502 New Certification Requirements for Imported Wine...................................... 1513-AB00 2503 Petition To Establish the Outer Coastal Plain American Viticultural Area.............. 1513-AB13 2504 Quarterly Excise Tax Filing for Small Alcohol Excise Taxpayers........................ 1513-AB17 2505 Green Valley of Russian River Valley.................................................. 1513-AB18 2506 Snake River Valley.................................................................... 1513-AB22 2507 Proposed Expansion of the Alexander Valley Viticultural Area.......................... 1513-AB23 2508 Technical Amendment to Regulations.................................................... 1513-AB32 2509 Firearms Excise Tax; Exemption for Small Manufacturers, Producers, and Importers...... 1513-AB25 2510 Implementation of Public Law 105-33, Section 9302, Relating to Tobacco Product Minimum 1513-AB37 Manufacturing Requirements and Transfer Marking....................................... 2511 Tobacco Products and Cigarette Papers and Tubes Shipped from Puerto Rico to the U.S... 1513-AB38 2512 27 CFR 24.278 Implementation of Wine Credit Provisions of Public Law 104-188.......... 1513-AA05 2513 27 CFR 275 Implementation of Public Law 105-33, Section 9302, Requiring the 1513-AA10 Qualification of Tobacco Product Importers and Miscellaneous Technical Amendments..... 2514 27 CFR 4 Proposal To Recognize Synonyms for Petite Sirah and Zinfandel Grape Varieties 1513-AA32 2515 27 CFR 4 Organic Claims in Labeling and Advertising of Alcohol Beverages.............. 1513-AA46 2516 27 CFR 9 Petition To Establish ``Chehalem Mountains'' as a New American Viticultural 1513-AA57 Area.................................................................................. 2517 27 CFR 7 Labeling and Advertising of Malt Beverages................................... 1513-AA60 2518 Petition To Establish the ``Fort Ross Seaview'' Viticultural Area..................... 1513-AA64 2519 Petition To Establish the ``Shawnee Hills'' Viticultural Area......................... 1513-AA70 2520 Proposed Establishment of Tracy Hills Viticultural Area............................... 1513-AA89 2521 Petition To Establish ``Calistoga'' as an American Viticultural Area.................. 1513-AA92 2522 Materials Authorized for the Treatment of Wine and Juice; Processes Authorized for the 1513-AA96 Treatment of Wine, Juice, and Distilling Material..................................... 2523 Suspension of Special (Occupational) Tax.............................................. 1513-AB04 ---------------------------------------------------------------------------------------------------------------- Alcohol and Tobacco Tax and Trade Bureau--Long-Term Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2524 Major Food Allergen Labeling for Wines, Distilled Spirits, and Malt Beverages......... 1513-AB08 2525 Availability of Information........................................................... 1513-AA98 2526 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............................ 2527 27 CFR 24.66 Implementation of Public Law 105-34, Section 1416, Relating to Refund of 1513-AA06 Tax for Domestic Wine Returned to Bond Regardless of Merchantability (Taxpayer Relief Act of 1997).......................................................................... [[Page 73681]] 2528 27 CFR 4 Amended Standard of Identity for Sherry...................................... 1513-AA08 2529 27 CFR 19, subpart W Proposed Revisions to the Distilled Spirits Plant Regulations.... 1513-AA23 ---------------------------------------------------------------------------------------------------------------- Alcohol and Tobacco Tax and Trade Bureau--Completed Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2530 Petition To Establish San Antonio Valley as a New American Viticultural Area.......... 1513-AB02 2531 Proposed Change to Vintage Date Requirements.......................................... 1513-AB11 2532 Petition To Establish the Rattlesnake Hills American Viticultural Area................ 1513-AB14 2533 Petition To Establish the Saddle Rock-Malibu American Viticultural Area............... 1513-AB15 2534 Use of the Words Scotch Ale or Scottish Ale or Its Variants on Labels or in 1513-AB30 Advertising of Malt Beverage Products; Request for Public Comment..................... 2535 Administrative Changes to Alcohol, Tobacco, and Firearms Regulations Due to the 1513-AA80 Homeland Security Act of 2002......................................................... 2536 27 CFR 17 Tax-Paid Distilled Spirits Used in Manufacturing Products Unfit for Beverage 1513-AA37 Use................................................................................... 2537 27 CFR 9 Petition To Establish ``Eola-Amity Hills'' as a New American Viticultural 1513-AA41 Area.................................................................................. 2538 27 CFR 9 Petition To Expand the Livermore Valley Viticultural Area.................... 1513-AA54 2539 27 CFR 9 San Francisco Bay and Central Coast Viticultural Areas--Boundary Realignment/ 1513-AA55 Expansion............................................................................. 2540 Proposed Amended Boundaries for the Santa Lucia Highlands and the Arroyo Seco 1513-AA72 Viticultural Area..................................................................... 2541 Proposed Establishment of Alta Mesa Viticultural Area................................. 1513-AA82 2542 Proposed Establishment of the Cosumnes River Viticultural Area........................ 1513-AA83 2543 Proposed Establishment of Sloughhouse Viticultural Area............................... 1513-AA84 2544 Proposed Establishment of Mokelumne River Viticultural Area........................... 1513-AA85 2545 Proposed Establishment of Jahant Viticultural Area.................................... 1513-AA86 2546 Proposed Establishment of Borden Ranch Viticultural Area.............................. 1513-AA87 2547 Proposed Establishment of Clements Hills Viticultural Area............................ 1513-AA88 2548 Proposed Establishment of Covelo Viticultural Area.................................... 1513-AA90 2549 Proposed Modification of Vintage Date Requirements.................................... 1513-AB29 ---------------------------------------------------------------------------------------------------------------- Comptroller of the Currency--Proposed Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2550 12 CFR 1 to 5 Regulatory Burden Reduction and Technical Amendments.................... 1557-AC79 2551 Interagency Proposal To Consider Alternative Forms of Privacy Notices Under the Gramm- 1557-AC80 Leach-Bliley Act...................................................................... 2552 Accuracy and Integrity of Information Furnished to a Consumer Reporting Agency........ 1557-AC89 2553 Implementation of a Revised Basel Capital Accord (Basel II) (Reg Plan Seq No. 95)..... 1557-AC91 2554 Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance: 1557-AC95 Domestic Capital Modifications (Basel IA) (Reg Plan Seq No. 96)....................... 2555 Risk-Based Capital Standards: Market Risk............................................. 1557-AC99 ---------------------------------------------------------------------------------------------------------------- References in boldface appear in the Regulatory Plan in part II of this issue of the Federal Register. Comptroller of the Currency--Final Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2556 Identity Theft Detection, Prevention, and Mitigation Program for Financial 1557-AC87 Institutions and Creditors............................................................ 2557 Fair Credit Reporting: Affiliate Marketing Regulations................................ 1557-AC88 ---------------------------------------------------------------------------------------------------------------- [[Page 73682]] Comptroller of the Currency--Long-Term Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2558 Recordkeeping Requirements for Bank Exceptions From Securities Broker or Dealer 1557-AB93 Registration.......................................................................... ---------------------------------------------------------------------------------------------------------------- Comptroller of the Currency--Completed Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2559 Assessment of Fees.................................................................... 1557-AC96 ---------------------------------------------------------------------------------------------------------------- Internal Revenue Service--Proposed Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2560 Income Tax--Taxpayer's Obligation To File a Notice of Redetermination of Foreign Tax 1545-AC09 and Civil Penalties for Failure To File............................................... 2561 Outbound Transfers of Property to Foreign Corporations................................ 1545-AM97 2562 Taxation of Global Trading............................................................ 1545-AP01 2563 Definition of ``Highly Compensated Employee''......................................... 1545-AQ74 2564 Integrated Financial Transaction...................................................... 1545-AR20 2565 Application of Attribution Rules to Foreign Trusts.................................... 1545-AU91 2566 Agreements for Payment of Tax Liabilities in Installments............................. 1545-AU97 2567 Transportation of Persons and Property by Air......................................... 1545-AW19 2568 Constructive Sales of Appreciated Financial Positions................................. 1545-AW97 2569 Rules for Sourcing Certain Transportation Income, Space, or Ocean Activity Income, and 1545-AX02 Related Foreign Base Company Shipping Income.......................................... 2570 Guidance on Cost Recovery in the Entertainment Industry............................... 1545-AX12 2571 Inspection of Written Determinations.................................................. 1545-AX40 2572 Awarding of Costs and Certain Fees.................................................... 1545-AX46 2573 Highly Compensated Employee........................................................... 1545-AX48 2574 Taxable Years of Controlled Foreign Corporations (CFCs) and Foreign Personal Holding 1545-AY30 Companies (FPHCs)..................................................................... 2575 Dollar-Value LIFO..................................................................... 1545-AY39 2576 Special Rules Relating to Transfers of Intangibles to Foreign Corporations............ 1545-AY41 2577 Liabilities Assumed in Certain Corporate Transactions................................. 1545-AY74 2578 Disclosure of Returns and Return Information in Judicial and Administrative Tax 1545-AY89 Proceedings........................................................................... 2579 Transactions Involving Obligations of Consolidated Group Members...................... 1545-BA11 2580 Deductibility of Employer Contributions for Deferred Compensation..................... 1545-BA13 2581 Allocation and Apportionment Rules: Guidance on Selected Issues....................... 1545-BA64 2582 Allocation of New Markets Tax Credit.................................................. 1545-BA84 2583 Mixed Use Output Facilities........................................................... 1545-BB23 2584 Accrual Rules for Creditable Foreign Taxes and Guidance on Change in Taxable Year..... 1545-BB27 2585 Application of Separate Limitations to Dividends From Noncontrolled Section 902 1545-BB28 Corporation........................................................................... 2586 Substitute Dividend Payments in Securities Lending and Similar Transactions........... 1545-BB56 2587 Loss on Subsidiary Stock.............................................................. 1545-BB61 2588 Liquidation of an Interest............................................................ 1545-BB71 2589 General Allocation and Accounting Regulations......................................... 1545-BC07 2590 Utility Allowance Regulation Update................................................... 1545-BC22 2591 Additional Guidance Regarding Mark-to-Market Accounting for Traders in Securities and/ 1545-BC48 or Commodities, Including Foreign Currency Instruments................................ 2592 Coordination of United States and Certain Possessions Income Taxes.................... 1545-BC54 2593 Suspension of Running of Period of Limitation During a Proceeding To Enforce or Quash 1545-BC55 a Designated or Related Summons....................................................... 2594 Guidance Under Section 2053 Regarding Post-Death Events............................... 1545-BC56 2595 Below-Market Loans.................................................................... 1545-BC78 2596 Regulations Governing the Performance of Actuarial Services Under the Employee 1545-BC82 Retirement Income Security Act of 1974................................................ 2597 Definition of Loss for Purposes of the Straddle Rules................................. 1545-BC83 [[Page 73683]] 2598 Guidance Regarding the Active Trade or Business Requirement Under Section 355(b)...... 1545-BC94 2599 Support Test in the Case of a Child of Divorced Parents............................... 1545-BD01 2600 Definition of Qualified Foreign Corporation........................................... 1545-BD15 2601 REMIC Interest-Only Regular Interests................................................. 1545-BD18 2602 Section 42 Qualified Contract Provisions.............................................. 1545-BD20 2603 Payments for Which No Return of Information Is Required Under Section 6041............ 1545-BD21 2604 Definition of Disqualified Person..................................................... 1545-BD28 2605 Classification of Indian Tribal Corporations.......................................... 1545-BD61 2606 Declaratory Judgment--Gift Tax Value.................................................. 1545-BD67 2607 Regulations Under Section 706 Regarding Determination of Distributive Share When a 1545-BD71 Partner's Interest Changes............................................................ 2608 Shareholder's Basis in Stock of an S Corporation...................................... 1545-BD72 2609 Guidance Under Section 707(c) Regarding Guaranteed Payments........................... 1545-BD74 2610 Update and Revision of Treasury Regulation Sections 1.381(c)(4) and (5)-1............. 1545-BD81 2611 Guidance Regarding Selected Issues Under Section 336(e)............................... 1545-BD84 2612 Definition of the ``Due Date'' for Purposes of Calculating Overpayment Interest Under 1545-BD86 Section 301.6611(h)................................................................... 2613 Reduction of Fuel Excise Tax Evasion.................................................. 1545-BE03 2614 Intra-Group Gross Receipts Under Section 41........................................... 1545-BE14 2615 Farmer and Fisherman Income Averaging Under the American Jobs Creation Act of 2004 1545-BE23 (AJCA)................................................................................ 2616 Section 6011 Regulations.............................................................. 1545-BE24 2617 Section 6111 Regulations.............................................................. 1545-BE26 2618 Section 6112 Regulations.............................................................. 1545-BE28 2619 Tractors, Trailers, Trucks, and Tires................................................. 1545-BE31 2620 Release of Lien or Discharge of Property.............................................. 1545-BE35 2621 Definition of Dependent and Other Related Provisions.................................. 1545-BE40 2622 Balanced System for Measuring Organizational and Employee Performance Within the 1545-BE45 Internal Revenue Service.............................................................. 2623 Limitation on Transfer of Built-In Losses............................................. 1545-BE58 2624 Research Expenditures Resulting in Inventory Property................................. 1545-BE64 2625 Section 401(a)(4) Guidance............................................................ 1545-BE69 2626 Information Reporting on Real Estate Transactions..................................... 1545-BE73 2627 Start-Up and Organizational Expenditures.............................................. 1545-BE77 2628 Targeted Populations Under Section 45D(e)(2).......................................... 1545-BE89 2629 Railroad Track Maintenance Credit..................................................... 1545-BE90 2630 S Corporation Guidance Under American Jobs Creation Act of 2004....................... 1545-BE95 2631 Capital Costs Incurred To Comply With EPA Sulfur Regulations.......................... 1545-BE96 2632 Disallowance of Partnership Loss Transfers and Basis Reduction in Stock of a Corporate 1545-BE98 Partner............................................................................... 2633 Section 704(c) and 737 Regulations Update............................................. 1545-BE99 2634 Cafeteria Plans....................................................................... 1545-BF00 2635 Election To Expense Certain Refineries................................................ 1545-BF05 2636 Credit Card Claims.................................................................... 1545-BF07 2637 Nuclear Decommissioning Cost.......................................................... 1545-BF08 2638 Clean Renewable Energy Bonds.......................................................... 1545-BF11 2639 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.................................................................................. 2640 Rules Under Section 302 of the Katrina Emergency Tax Relief Act of 2005............... 1545-BF14 2641 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.................................. 2642 Alcohol Fuel and Biodiesel............................................................ 1545-BF17 2643 Credit for Production From Advanced Nuclear Power Facilities.......................... 1545-BF19 2644 Debt Satisfied by a Partnership Interest.............................................. 1545-BF27 2645 Taxpayer Assistance Orders............................................................ 1545-BF33 2646 Entertainment Expense Disallowance.................................................... 1545-BF34 2647 Accuracy-Related Penalties............................................................ 1545-BF40 2648 Taxation of Fringe Benefits and Exclusions from Gross Income of Certain Fringe 1545-BF42 Benefits.............................................................................. 2649 Limitation on Importation of Built-In Losses.......................................... 1545-BF43 2650 Special Rules Under Section 7874...................................................... 1545-BF47 2651 Further Guidance Regarding Application of Section 409A................................ 1545-BF50 2652 475 Held for Investment............................................................... 1545-BF53 2653 Change to Office to Which Notices of Nonjudicial Sale and Requests for Return of 1545-BF54 Wrongfully Levied Property Must be Sent............................................... [[Page 73684]] 2654 Section 6707 and the Failure to Furnish Information Regarding Reportable Transactions. 1545-BF59 2655 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.. 2656 Activities Customarily Performed by States and Local Governments...................... 1545-BF63 2657 Clarification of Section 6411 Regulations............................................. 1545-BF65 2658 User Fees for Processing Installment Agreements....................................... 1545-BF69 2659 Applying Section 1(h) To Capital Gain Dividends of RIC and REITS...................... 1545-BF72 2660 Multiple Annuity Starting Date Limitations on Benefits Under Qualified Plans.......... 1545-BF74 2661 Guidance on Determination of Interest Expense Allocable in a Global Dealing Operation. 1545-BF76 2662 U.S. Source Income Effectively Connected with U.S. Business........................... 1545-BF77 2663 Source of Income; Source of Guarantee Fee Income...................................... 1545-BF78 2664 Tax Increase Prevention and Reconciliation Act of 2005 Amendments to Section 199...... 1545-BF79 2665 Guidance Under Section 67 Regarding Miscellaneous Itemized Deductions of a Trust or 1545-BF80 Estate................................................................................ 2666 Regulation to Delete the Tort Type Rights Test From the Section 104(a)(2) Regulations. 1545-BF81 2667 Guidance Regarding Scope of Section 368(a)(1)(D)...................................... 1545-BF83 2668 Treatment of Payments in Lieu of Taxes................................................ 1545-BF87 2669 Withholding and Reporting Obligations Under Section 1441 Regarding Tender Offers...... 1545-BF93 2670 Section 181 - Deduction for Qualified Film and Television Production Costs............ 1545-BF94 2671 Circular 230 - Review of Section 10.35 et seq......................................... 1545-BF96 ---------------------------------------------------------------------------------------------------------------- Internal Revenue Service--Final Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2672 Income Tax--Definition of Qualified Possession Source Investment Income for Purposes 1545-AC10 of Puerto Rico and Possession Tax Credit.............................................. 2673 Information From Passport and Immigration Applicants.................................. 1545-AJ93 2674 Earnings Stripping Payments........................................................... 1545-AO24 2675 Registration Required Obligations..................................................... 1545-AP33 2676 Straddles---Miscellaneous Issues...................................................... 1545-AT46 2677 Mark-to-Market Accounting for Dealers in Commodities and Traders in Securities and 1545-AW06 Commodities........................................................................... 2678 Stocks and Securities Safe Harbor Exception........................................... 1545-AW13 2679 Intercompany Obligations.............................................................. 1545-AW30 2680 Source of Income From Certain Space and Ocean Activities and for Communications Income 1545-AW50 2681 Capitalization of Interest and Carrying Charges Properly Allocable to Straddles....... 1545-AX92 2682 Authorized Placement Agency........................................................... 1545-AY18 2683 Guidance on Changes to the Laws for Corporate Estimated Taxes......................... 1545-AY22 2684 HIPAA General Nondiscrimination....................................................... 1545-AY32 2685 HIPAA Nondiscrimination Exception for Church Plans.................................... 1545-AY33 2686 HIPAA Nondiscrimination Exception for Bona Fide Wellness Programs..................... 1545-AY34 2687 Normalization......................................................................... 1545-AY75 2688 Reductions of Accruals and Allocations Because of Increased Age....................... 1545-BA10 2689 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....................................................................... 2690 Amendment to the Definition of Refunding.............................................. 1545-BA46 2691 Noncompensatory Partnership Options................................................... 1545-BA53 2692 Circular 230--Phase 2 Nonshelter Revisions............................................ 1545-BA72 2693 Section 1248 Attribution Principles................................................... 1545-BA93 2694 Allocation of Foreign Tax Credits Among Partners...................................... 1545-BB11 2695 Section 482: Methods To Determine Taxable Income in Connection With a Cost Sharing 1545-BB26 Arrangement........................................................................... 2696 Treatment of Services Under Section 482............................................... 1545-BB31 2697 Contributions To Purchase Certain Retirement Annuities or Custodial Accounts Under 1545-BB64 Section 403(b)........................................................................ 2698 Notional Principal Contracts; Contingent Nonperiodic Payments......................... 1545-BB82 2699 REMIC Residuals--Timing of Income for Foreign Holders................................. 1545-BB84 2700 Predecessors or Successors Under Section 355(e)....................................... 1545-BB85 2701 Dependent Care Credit................................................................. 1545-BB86 2702 Guidance Regarding Mark-to-Market Valuation for Certain Securities.................... 1545-BB90 [[Page 73685]] 2703 Partnership Equity for Services....................................................... 1545-BB92 2704 Accrual for Certain REMIC Regular Interests........................................... 1545-BB94 2705 Miscellaneous Changes to Collection Due Process Procedures Relating to Notice and 1545-BB96 Opportunity for Hearing Upon Filing of Notice of Lien................................. 2706 Miscellaneous Changes to Collection Due Process Procedures Relating to Hearings Before 1545-BB97 Levy.................................................................................. 2707 Entry of Taxable Fuel................................................................. 1545-BC08 2708 Guidance Necessary To Facilitate Business Electronic Filing........................... 1545-BC15 2709 Changes in Computing Depreciation..................................................... 1545-BC18 2710 Special Consolidated Return Rules for Interest Expense Disallowed Under Section 1545-BC23 265(a)(2)............................................................................. 2711 Guidance Regarding Application of Section 265(a)(2) and 246A in Transactions Involving 1545-BC24 Related Parties, Pass-Through Entities, or Other Intermediaries....................... 2712 Prohibited Allocation of Securities in an S Corporation............................... 1545-BC34 2713 Guidance on PFIC Purging Elections.................................................... 1545-BC37 2714 Qualified Severance Regulations....................................................... 1545-BC50 2715 Stewardship Expenses.................................................................. 1545-BC52 2716 Qualified Zone Academy Bonds; Obligations of States and Political Subdivisions........ 1545-BC61 2717 Guidance Under Section 707 Regarding Disguised Sales.................................. 1545-BC63 2718 Section 1045 Application to Partnerships.............................................. 1545-BC67 2719 Disclosures to Subcontractors......................................................... 1545-BC92 2720 Solid Waste Disposal Facilities....................................................... 1545-BD04 2721 Public Inspection of Written Determinations Under Section 6110 of the Internal Revenue 1545-BD09 Code (Temporary)...................................................................... 2722 Dual Consolidated Loss Regulations.................................................... 1545-BD10 2723 Coordination of United States and Certain Possessions Income Taxes (Temporary)........ 1545-BD32 2724 Underpayment for Qualified Amended Returns............................................ 1545-BD40 2725 Update of 415 Regulations............................................................. 1545-BD52 2726 Guidance Under Section 1502; Miscellaneous Operating Rules for Successor Persons; 1545-BD54 Applicability of Section 381.......................................................... 2727 Asset Transfers Following Putative Reorganizations.................................... 1545-BD56 2728 Mandatory e-Filing for Forms 1120..................................................... 1545-BD65 2729 Use of Electronic Technologies for Providing Notices and Transmitting Elections and 1545-BD68 Consents.............................................................................. 2730 Section 704(b)(2) and Substantiality.................................................. 1545-BD70 2731 Dye Injection......................................................................... 1545-BE04 2732 Elimination of Country-by-Country Reporting to Shareholders of Foreign Taxes Paid by 1545-BE09 Regulated Investment Companies........................................................ 2733 Circular 230--Covered Opinion Amendments.............................................. 1545-BE13 2734 Capitalization of Amounts Paid To Repair or Improve Tangible Property................. 1545-BE18 2735 Withholding Exemptions................................................................ 1545-BE20 2736 Guidance Under Subpart F Relating to Partnerships..................................... 1545-BE34 2737 Farmer and Fisherman Income Averaging Under the American Jobs Creation Act of 2004 1545-BE39 (AJCA) (Temporary).................................................................... 2738 Disregarded Entities and Collections.................................................. 1545-BE43 2739 Regulations Under Section 263A Regarding Use of Simplified Service Cost Method and 1545-BE57 Simplified Production Method.......................................................... 2740 Assumption of Liabilities............................................................. 1545-BE67 2741 Deferred Compensation (Proposed)...................................................... 1545-BE79 2742 REMIC Residuals--Foreign Holders (Temporary).......................................... 1545-BE81 2743 Treatment of Excess Loss Accounts..................................................... 1545-BE87 2744 Guidance Under Section 7874 for Determining Ownership by Former Shareholders or 1545-BE93 Partners of Domestic Entities......................................................... 2745 Capital Costs Incurred To Comply With EPA Sulfur Regulations (Temporary).............. 1545-BE97 2746 Application of Section 338 to Insurance Companies..................................... 1545-BF02 2747 Designated Roth Accounts Under Section 402A........................................... 1545-BF04 2748 Election To Expense Certain Refineries (Temporary).................................... 1545-BF06 2749 Nuclear Decommissioning Costs (Temporary)............................................. 1545-BF09 2750 Charitable Contributions of Certain Motor Vehicles.................................... 1545-BF10 2751 Clean Renewable Energy Bonds (Temporary).............................................. 1545-BF12 2752 Credit for Production From Advanced Nuclear Power Facilities (Temporary).............. 1545-BF20 2753 Subchapter S Banks.................................................................... 1545-BF24 2754 Revision of Regulations To Comply With Commissioner's e-File Program.................. 1545-BF25 2755 Revision of Regulation To Comply With the Commissioner's e-File Program (Temporary)... 1545-BF26 [[Page 73686]] 2756 Charitable Contributions of Qualified Vehicles (Temporary)............................ 1545-BF29 2757 Section 3121(a)(5)(D) Regulation (Salary Reduction Agreement) (Temporary)............. 1545-BF35 2758 Accuracy-Related Penalties............................................................ 1545-BF41 2759 Regulations Under Sections 501(c)(3) and 4958 on Revocation Standards................. 1545-BF44 2760 Application of Separate Limitations to Dividends from Noncontrolled Section 902 1545-BF46 Corporation (temporary)............................................................... 2761 Section 1221(a)(4) Capital Asset Exclusion for Accounts and Notes Receivable.......... 1545-BF52 2762 Computer Software Under Section 199(c)(5)(B).......................................... 1545-BF56 2763 Section 6707 and the Failure to Furnish Information Regarding Reportable Transactions. 1545-BF60 2764 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.. 2765 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. 2766 Clarification of Section 6411 Regulations............................................. 1545-BF66 2767 United States Dollar Approximate Separate Transactions Method......................... 1545-BF67 2768 Reporting Rules For Widely Held Fixed Investment Trusts............................... 1545-BF75 2769 Return Required by Subchapter T Cooperatives Under Section 6012....................... 1545-BF82 2770 Source Rules Involving U.S. Possessions and Other Conforming Changes.................. 1545-BF85 2771 Reporting Rules for Widely Held Fixed Investment Trusts............................... 1545-BF86 2772 Tax Increase Prevention and Reconciliation Act of 2005 Amendments to Section 199...... 1545-BF88 2773 Rules Under Section 302 of The Katrina Emergency Tax Relief Act of 2005............... 1545-BF89 2774 Section 181 - Deduction for Qualified Film and Television Production Costs............ 1545-BF95 ---------------------------------------------------------------------------------------------------------------- Internal Revenue Service--Long-Term Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2775 FSC Transfer Pricing Rules, Distributions, Dividends Received, Deduction, and Other 1545-AI16 Special Rules for FSC................................................................. 2776 Foreign Corporations.................................................................. 1545-AK74 2777 Nonrecognition of Corporate Distributions and Reorganizations Under the Foreign 1545-AK79 Investment in Real Property Tax Act................................................... 2778 Income of Foreign Governments and International Organizations......................... 1545-AL93 2779 Clarification of Treatment of Separate Limitation Losses.............................. 1545-AM11 2780 Computation of a Branch's Taxable Income; Taxation of Exchange Gain or Loss on Branch 1545-AM12 Remittances........................................................................... 2781 Earnings and Profits of Controlled Foreign Corporations............................... 1545-AM90 2782 Caribbean Basin Investments........................................................... 1545-AM91 2783 Consolidated Alternative Minimum Tax.................................................. 1545-AN73 2784 Conforming Taxable Years of CFCs and FPHCs............................................ 1545-AO22 2785 Foreign Insurance Company--Domestic Election.......................................... 1545-AO25 2786 Information Reporting and Record Maintenance.......................................... 1545-AP10 2787 Use of GAAP Earnings as E&P of Foreign Corporations................................... 1545-AQ55 2788 Interest-Free Adjustments............................................................. 1545-AQ61 2789 The Treatment of Accelerated Death Benefits........................................... 1545-AQ70 2790 Mark-to-Market Upon Disposition....................................................... 1545-AS85 2791 Allocation of Accrued Benefits Between Employer and Employee Contributions............ 1545-AT82 2792 Foreign Corporations Regulations...................................................... 1545-AT96 2793 Application of Grantor Trust Rules to Nonexempt Employees' Trusts..................... 1545-AU29 2794 Recomputation of Life Insurance Reserves.............................................. 1545-AU49 2795 Electronic Transmission of Withholding Certificates................................... 1545-AV27 2796 Substantiating Travel Expense Deductions for Members of Congress...................... 1545-AV55 2797 Definition of Accounting Method....................................................... 1545-AX21 2798 Allocation and Apportionment of Interest Expense and Certain Other Expenses........... 1545-AX72 2799 Modification to Section 367(a) Stock Transfer Regulations............................. 1545-AX77 2800 Definition of Passive Foreign Investment Company Under Section 1297................... 1545-AX78 2801 Clarification of Foreign Base Company Sales Income Rules.............................. 1545-AX91 2802 Special Rules for S Corporations...................................................... 1545-AY44 2803 Previously Taxed Earnings and Profits Under Subpart F................................. 1545-AY54 2804 Payments For Interest in Partnership.................................................. 1545-AY90 [[Page 73687]] 2805 Consolidated Returns; Nonapplicability of Section 357(c).............................. 1545-BA09 2806 Guidance on Reporting of Deposit Interest Paid to Nonresident Aliens.................. 1545-BA86 2807 Guidance To Facilitate Electronic Tax Administration.................................. 1545-BA96 2808 Timely Mailing Treatment.............................................................. 1545-BA99 2809 Communications Excise Tax; Taxable Communication Services............................. 1545-BB04 2810 Toll Telephone Service--Definition.................................................... 1545-BB18 2811 Amending the Low-Income Housing Tax Credit Program.................................... 1545-BB37 2812 Amendment to Section 6724 Relating to Failure To File Correct Information Returns..... 1545-BB41 2813 Notarization Requirement for Statements of Purchase................................... 1545-BC11 2814 Contingent at Closing Escrows......................................................... 1545-BC16 2815 Substitute for Return (SFR) and Automated Substitute for Return (ASFR)................ 1545-BC45 2816 Transactions Involving the Transfer of No Net Equity Value............................ 1545-BC88 2817 Revision of Section 301.6103(j)-1 for Disclosure to the Bureau of Economic Analysis, 1545-BC93 Department of Commerce................................................................ 2818 Accumulated Adjustment Account and Other Corporate Separations Under Section 355...... 1545-BC98 2819 Escrow Accounts, Trusts, and Other Funds Used During Deferred Exchanges of Like-Kind 1545-BD19 Property.............................................................................. 2820 Guidance on Phased Retirement......................................................... 1545-BD23 2821 Transfers of Restricted Stock......................................................... 1545-BD44 2822 Transfers of Restricted Stock (Temporary)............................................. 1545-BD45 2823 HIPAA Portability: Special Enrollment Procedures, Tolling, and Interaction With FMLA.. 1545-BD51 2824 Special Rules To Reduce Section 1446 Withholding...................................... 1545-BD80 2825 Amendments to 26 CFR Section 1.263(a)-5 Regarding Treatment of Capitalized Costs...... 1545-BD82 2826 Return for Subchapter T Cooperatives.................................................. 1545-BD92 2827 Employer's Annual Federal Employment Tax Return--Form 944............................. 1545-BD93 2828 Return for Subchapter T Cooperatives (Temporary)...................................... 1545-BD98 2829 Revision of Section 301.6103(j)-1 for Disclosure to the Bureau of Economic Analysis, 1545-BE02 Department of Commerce (Temporary).................................................... 2830 Application of Section 6404(g) Suspension Provisions.................................. 1545-BE07 2831 Disclosure of Return Information to the Bureau of the Census.......................... 1545-BE08 2832 Information Returns by Donees Relating to Qualified Intellectual Property 1545-BE11 Contributions......................................................................... 2833 Information Returns Required With Respect to Certain Foreign Corporations and Other 1545-BE47 Conforming Changes.................................................................... 2834 Simplification of Extension Process Under Section 6081................................ 1545-BE62 2835 Converting an IRA Annuity to a Roth IRA............................................... 1545-BE65 2836 Abandonment of Stock and Other Securities............................................. 1545-BE80 2837 Foreign Currency Contract Defined..................................................... 1545-BE82 2838 Foreign Currency Contract Defined (Temporary)......................................... 1545-BE83 2839 Life/Non-Life Tacking Rule............................................................ 1545-BE85 2840 Procedures for Administrative Review of a Determination That an Authorized Recipient 1545-BF21 Has Failed To Safeguard Federal Tax Returns or Return Information..................... 2841 Depreciation of MACRS Property That Is Acquired in a Like-Kind Exchange or as a Result 1545-BF37 of an Involuntary Conversion.......................................................... 2842 Failure To Maintain List of Advisees With Respect to Reportable Transactions.......... 1545-BF38 2843 Failure To Maintain List of Advisees With Respect to Reportable Transactions.......... 1545-BF39 2844 Requirements for Reorganizations Qualifying Under Section 368(a)(1)(E) or (F)......... 1545-BF51 2845 Determination of Interest Expense Deduction of Foreign Corporations................... 1545-BF71 2846 Definition of Taxpayer for Purposes of Section 901 and Related Matters................ 1545-BF73 2847 Exclusion of Income from the International Operation of Ships or Aircraft............. 1545-BF90 ---------------------------------------------------------------------------------------------------------------- Internal Revenue Service--Completed Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2848 Reporting of Payments to Attorneys.................................................... 1545-AW72 2849 Stock Transfer Rules--Carryover of Earnings and Taxes................................. 1545-AX65 2850 Allocation of Income and Deductions From Intangibles.................................. 1545-AY38 2851 Election--Asset Acquisitions of Insurance Companies................................... 1545-AY49 2852 Transitional Relief for Qualified Intermediaries...................................... 1545-AY92 2853 Redemptions Treated as Dividends...................................................... 1545-BA80 [[Page 73688]] 2854 Investigative Disclosures............................................................. 1545-BB16 2855 Limitation on Use of Nonaccrual Experience Method of Accounting....................... 1545-BB43 2856 Special Depreciation Allowance........................................................ 1545-BB57 2857 Collection After Assessment........................................................... 1545-BC72 2858 Exclusion of Employees of 501(c)(3) Organizations in 401(k) and 401(m) Plans.......... 1545-BC87 2859 Attained Age of the Insured........................................................... 1545-BD00 2860 Requirements for Reorganizations...................................................... 1545-BD31 2861 Treatment of Disregarded Entities Under Section 752................................... 1545-BD48 2862 Manufacturer Incentive Payments in an Intercompany Transaction........................ 1545-BD55 2863 Aggregate Computation; Allocation of Research Credit.................................. 1545-BD60 2864 Flat Rate Supplemental Wage Withholding............................................... 1545-BD96 2865 Section 6011 Regulations (Temporary).................................................. 1545-BE25 2866 Section 6111 Regulations (Temporary).................................................. 1545-BE27 2867 Section 6112 Regulations (Temporary).................................................. 1545-BE29 2868 Employer Comparable Contributions to Health Savings Accounts Under Section 4980G...... 1545-BE30 2869 Domestic Workers Regulation Update (Application of the Federal Insurance Contributions 1545-BE32 Act to Payments Made for Certain Services)............................................ 2870 Income Attributable to Domestic Production Activities................................. 1545-BE33 2871 Special Depreciation Allowance--Extended Placed-In-Service Date....................... 1545-BE55 2872 Special Depreciation Allowance-Extended Placed-In-Service Date (Temporary)............ 1545-BE56 2873 Limitation on Transfer of Built-In Losses (Temporary)................................. 1545-BE59 2874 Dividends Paid Deduction for Stock Held in Employee Stock Ownership Plan (ESOP)....... 1545-BE74 2875 Railroad Track Maintenance Credit (Temporary)......................................... 1545-BE91 2876 Intercompany Transactions; Manufacturer Incentive Payments............................ 1545-BF32 2877 Amendment of Statutory Mergers and Consolidations..................................... 1545-BF36 2878 Information Returns Required With Respect to Certain Foreign Corporations and Other 1545-BF49 Conforming Changes (temporary)........................................................ 2879 Computer Software Under Section 199(c)(5)(B).......................................... 1545-BF57 2880 User Fees Relating to Enrollment...................................................... 1545-BF68 2881 Determination of Interest Expense Deduction of Foreign Corporations (Temporary)....... 1545-BF70 ---------------------------------------------------------------------------------------------------------------- Office of Thrift Supervision--Proposed Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2882 Implementation of a Revised Basel Capital Accord (Basel II) (Reg Plan Seq No. 97)..... 1550-AB56 2883 12 CFR 506 Securities-Related Activities of Savings Associations...................... 1550-AB92 2884 Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Maintenance: Domestic 1550-AB98 Capital Modifications................................................................. 2885 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. 2886 Risk Based Capital--Market Risk Rule.................................................. 1550-AC02 ---------------------------------------------------------------------------------------------------------------- References in boldface appear in the Regulatory Plan in part II of this issue of the Federal Register. Office of Thrift Supervision--Final Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2887 Fair Credit Reporting Affiliate Marketing Regulations................................. 1550-AB90 2888 Identity Theft Detection, Prevention, and Mitigation Program for Financial 1550-AB94 Institutions and Creditors............................................................ 2889 12 CFR 544 Federal Savings Association Bylaws; Integrity of Directors................. 1550-AC00 2890 Supplemental Standards of Ethical Conduct for Employees of the Department of Treasury. 1550-AC03 2891 Subordinated Debt Securities and Mandatorily Redeemable Preferred Stock............... 1550-AC06 2892 12 CFR 563b Stock Benefit Plans in Mutual-to-Stock Conversions and Mutual Holding 1550-AC07 Company Structures.................................................................... ---------------------------------------------------------------------------------------------------------------- [[Page 73689]] Office of Thrift Supervision--Completed Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identifier Number Number ---------------------------------------------------------------------------------------------------------------- 2893 12 CFR 563e Community Reinvestment Act................................................ 1550-AB48 2894 12 CFR 528 Technical Amendments to Reflect BIF and SAIF Merger........................ 1550-AC05 ---------------------------------------------------------------------------------------------------------------- _______________________________________________________________________ Department of the Treasury (TREAS) Proposed Rule Stage Departmental Offices (DO) _______________________________________________________________________ 2394. TERRORISM RISK INSURANCE PROGRAM; RECOUPMENTS OF FEDERAL SHARE OF COMPENSATION FOR INSURED LOSSES Priority: Other Significant Legal Authority: 5 USC 301; Terrorism Risk Insurance Act of 2002, Title I, PL 107-297, 116 Stat 2322; Terrorism Risk Insurance Extension Act of 2005, PL 109-144, 119 Stat 2660 CFR Citation: 31 CFR 50 Legal Deadline: None Abstract: As the statutorily authorized administrator of the Terrorism Risk Insurance Program, Treasury is issuing proposed and final regulations to implement the Program. Under the Terrorism Risk Insurance Act of 2002, title I, Public Law 107-297, and the Terrorism Risk Insurance Extension Act of 2005, Public Law 109-144, the Federal Government shares the risk of insured losses from certified acts of terrorism with commercial property and casualty insurers until the Program sunsets on December 31, 2007. This rule incorporates and clarifies statutory requirements for the recoupment of the Federal share of compensation for insured losses. The rule establishes requirements for determining amounts to be recouped and for procedures insurers are to use for collecting terrorism policy surcharges and remitting them to the Treasury. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Howard Leikin, Deputy Director, Department of the Treasury, Office of Financial Institutions, Terrorism Risk Insurance Program, 1425 New York Avenue NW., Washington, DC 20220 Phone: 202 622-6770 Email: howard.leikin@do.treas.gov RIN: 1505-AB10 _______________________________________________________________________ 2395. 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 12/00/06 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1515-AC23 Agency Contact: Marla Bianchetta, Operations Officer, Department of the Treasury, Customs and Border Protection, Office of Field Operations, 1300 Pennsylvania Avenue, NW., Washington, DC 20229 Phone: 202 344-2693 RIN: 1505-AB20 _______________________________________________________________________ 2396. 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 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 12/00/06 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1515-AC40 [[Page 73690]] 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 _______________________________________________________________________ 2397. 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 12/00/06 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Daniel Cornette, Attorney, Valuation and Special Programs Branch, Department of the Treasury, Office of Regulations and Rulings, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 572-8731 RIN: 1505-AB49 _______________________________________________________________________ 2398. 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 12/00/06 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 _______________________________________________________________________ 2399. 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 12/00/06 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 _______________________________________________________________________ 2400. 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 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 [[Page 73691]] 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 12/00/06 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 _______________________________________________________________________ 2401. [bull] 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 12/00/06 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Jennifer Dolan, Entry Specialist, Department of the Treasury, 1300 Pennsylvania Avenue NW., Office of Field Operations, Washington, DC 20229 Phone: 202 344-2568 RIN: 1505-AB71 _______________________________________________________________________ Department of the Treasury (TREAS) Final Rule Stage Departmental Offices (DO) _______________________________________________________________________ 2402. 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 superceded 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 _______________________________________________________________________ 2403. 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 [[Page 73692]] 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 12/00/06 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 _______________________________________________________________________ 2404. 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 01/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1515-AC63 Agency Contact: Peter Flores, Department of the Treasury, Office of Field Operations, 1300 Pennsylvania Avenue, NW., Washington, DC 20229 Phone: 202 344-3127 RIN: 1505-AB24 _______________________________________________________________________ 2405. 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 10/05/00 65 FR 59668 Interim Final Rule Effective 10/01/00 Interim Final Rule Comment Period End 12/04/00 Final Action 02/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1515-AC72 Agency Contact: Cynthia Reese, Senior Attorney, Department of the Treasury, Office of Regulations and Rulings, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 572-8810 RIN: 1505-AB26 _______________________________________________________________________ 2406. 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 02/00/07 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 [[Page 73693]] _______________________________________________________________________ 2407. 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 02/00/07 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 _______________________________________________________________________ 2408. 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 12/00/06 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 _______________________________________________________________________ 2409. 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 02/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1515-AD20 Agency Contact: Robert Abels, Operations Officer, Department of the Treasury, Office of Field Operations, 1300 Pennsylvania 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 [[Page 73694]] _______________________________________________________________________ 2410. 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 12/00/06 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 _______________________________________________________________________ 2411. 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 Interim Final Rule Comment Period End 05/20/03 Final Action 02/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1515-AD22 Agency Contact: Robert Abels, Operations Officer, Department of the Treasury, Office of Field Operations, 1300 Pennsylvania 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 _______________________________________________________________________ 2412. UNITED STATES--CHILE 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, United States-Chile 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 Chile. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 03/07/05 70 FR 10868 Interim Final Rule Comment Period End 06/06/05 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Robert Abels, Operations Officer, Department of the Treasury, Office of Field Operations, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 344-1959 RIN: 1505-AB47 [[Page 73695]] _______________________________________________________________________ 2413. 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 12/00/06 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Robert Abels, Operations Officer, Department of the Treasury, Office of Field Operations, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 344-1959 RIN: 1505-AB48 _______________________________________________________________________ 2414. 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 12/00/06 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 _______________________________________________________________________ 2415. CONDITIONAL RELEASE PERIOD AND CUSTOMS BOND OBLIGATIONS FOR FOOD, DRUGS, DEVICES, AND COSMETICS (SECTION 610 REVIEW) Priority: Substantive, Nonsignificant Legal Authority: 19 USC 66; 19 USC 1202; 19 USC 1448; 19 USC 1484; 19 USC 1499; 19 USC 1623; 19 USC 1624; 21 USC 381 CFR Citation: 19 CFR 141; 19 CFR 151 Legal Deadline: None Abstract: Amendment to provide for a specific conditional release period for any food, drug, device, or cosmetic that has been released under bond and for which admissibility is to be determined under the provisions of the Food, Drug, and Cosmetic Act. Amendment also clarifies the amount of liquidated damages that may be assessed when there is a breach of the terms and conditions of the customs bond. Lastly, amendment authorizes any representative of the Food and Drug Administration to obtain a sample of any food, drug, device, or cosmetic, the importation of which is governed by section 801 of the Food, Drug, and Cosmetic Act, as amended. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/07/02 67 FR 39322 NPRM Comment Period End 08/06/02 Final Action 01/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1515-AD05; 1651-AA39. Agency Contact: 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-AB57 _______________________________________________________________________ 2416. 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 [[Page 73696]] Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Seth Mazze, CBP Officer, Office of Field Operations, Department of the Treasury, Customs and Border Protection, Office of Field Operations, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 344-2634 RIN: 1505-AB58 _______________________________________________________________________ 2417. 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 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 12/00/06 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Cynthia Reese, Senior Attorney, Department of the Treasury, Office of Regulations and Rulings, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 572-8810 Robert Abels, Operations Officer, Department of the Treasury, Office of Field Operations, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 344-1959 RIN: 1505-AB60 _______________________________________________________________________ 2418. FEES FOR CERTAIN SERVICES Priority: Substantive, Nonsignificant Legal Authority: 5 USC 301; 19 USC 58c; 19 USC 66; 19 USC 1202; . . . CFR Citation: 19 CFR 24 Legal Deadline: None Abstract: Amendment revises the fees charged for certain customs inspectional services under 13031 of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended. Amendments are necessary to reflect recent changes in the pertinent statutory provisions. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/24/06 71 FR 20922 NPRM Comment Period End 05/24/06 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Jerry Petty, Director, Cost Management Division, Department of the Treasury, Office of Finance, Customs and Border Protection, 1300 Pennsylvania Avenue NW, Washington, DC 20229 Phone: 202 344-1317 RIN: 1505-AB62 _______________________________________________________________________ 2419. 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, Public Law 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 01/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Robert Abels, Operations Officer, Department of the Treasury, Office of Field Operations, 1300 Pennsylvania 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: 202 572-8810 RIN: 1505-AB64 _______________________________________________________________________ 2420. 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 [[Page 73697]] 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 12/00/06 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 _______________________________________________________________________ 2421. 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 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 _______________________________________________________________________ Department of the Treasury (TREAS) Long-Term Actions Departmental Offices (DO) _______________________________________________________________________ 2422. 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 _______________________________________________________________________ 2423. 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 _______________________________________________________________________ 2424. 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 _______________________________________________________________________ 2425. 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 [[Page 73698]] _______________________________________________________________________ 2426. 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 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Deborah Thompson Phone: 317 614-4511 RIN: 1505-AB12 _______________________________________________________________________ 2427. 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 _______________________________________________________________________ 2428. 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) _______________________________________________________________________ 2429. SINGLE ENTRY FOR UNASSEMBLED OR DISASSEMBLED ENTITIES IMPORTED ON MULTIPLE CONVEYANCES Priority: Substantive, Nonsignificant CFR Citation: 19 CFR 141; 19 CFR 142 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action 06/02/06 71 FR 31921 Final Action Effective 07/03/06 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Timothy Sushil Phone: 202 344-2567 Emily Simon Phone: 202 572-8867 RIN: 1505-AB34 _______________________________________________________________________ 2430. IMPLEMENTATION OF THE ANDEAN TRADE PROMOTION AND DRUG ERADICATION ACT Priority: Substantive, Nonsignificant CFR Citation: 19 CFR 10; 19 CFR 163 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action 08/07/06 71 FR 44564 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Cynthia Reese Phone: 202 572-8790 Robert Abels Phone: 202 344-1959 RIN: 1505-AB37 _______________________________________________________________________ 2431. TERRORISM RISK INSURANCE PROGRAM; TRIA EXTENSION ACT IMPLEMENTATION Priority: Other Significant CFR Citation: 31 CFR 50 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Interim Final Rule 05/11/06 71 FR 27564 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: David J. Brummond Phone: 202 622-7255 Email: david.brummond@do.treas.gov Howard Leikin Phone: 202 622-6770 Email: howard.leikin@do.treas.gov Related RIN: Related to 1505-AB67 RIN: 1505-AB66 _______________________________________________________________________ 2432. TERRORISM RISK INSURANCE PROGRAM; TRIA EXTENSION ACT IMPLEMENTATION Priority: Other Significant CFR Citation: 31 CFR Part 50 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ NPRM 05/11/06 71 FR 27573 Final Action 08/25/06 71 FR 50341 Final Action Effective 09/25/06 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 Related RIN: Related to 1505-AB66 RIN: 1505-AB67 [[Page 73699]] _______________________________________________________________________ 2433. [bull] GOVERNMENT SECURITIES ACT REGULATIONS: APPLICABILITY TO OVER-THE-COUNTER DERIVATIVES DEALERS Priority: Substantive, Nonsignificant Legal Authority: 15 USC 78o-5; 15 USC 78o-5(b)(1)(A),(b)(4); sec 101, PL 99-571, 100 Stat 3209; sec 4(b), PL 101-432, 104 Stat 963; sec 102, sec 106, PL 103-202, 107 Stat 2344 (15 USC 78o-5(a)(5), (b)(1)(A), (b)(4); 15 USC 78o-5 (b)(1)(B), (b)(1)(C), (b)(2), (b)(4) CFR Citation: 17 CFR 400; 17 CFR 402; 17 CFR 403; 17 CFR 404; 17 CFR 405 Legal Deadline: None Abstract: The amendment adds language to state explicitly that Treasury deems over-the-counter (OTC) derivatives dealers that are also government securities dealers to be in compliance with the GSA regulations if they comply with the applicable Securities and Exchange Commission (SEC) OTC derivatives dealer rules, and other SEC rules, applicable to them. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action 09/15/06 71 FR 54409 Final Action Effective 09/15/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Lori Santamorena, Executive Director, Department of the Treasury, Government Securities Regulations Staff, 799 9th Street NW., Washington, DC 20239 Phone: 202 504-3632 Email: govsecreg@bpd.treas.gov Chuck Andreatta, Associate Director, Department of the Treasury, Washington, DC 20239 Phone: 202 504-3632 Email: govsecreg@bpd.treas.gov RIN: 1505-AB70 _______________________________________________________________________ 2434. [bull] IMPORT RESTRICTIONS ON BYZANTINE ECCLESIASTICAL AND RITUAL ETHNOLOGICAL MATERIAL FROM CYPRUS 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 2602; 19 USC 2603(c)(3), (c)(4); 19 USC 2612; . . . CFR Citation: 19 CFR 12.104g(a); 19 CFR 12.104g(b) Legal Deadline: Final, Statutory, September 4, 2006, 19 USC 2603(c)(3). Final, Statutory, July 19, 2007, 19 USC 2602(b). The maximum period an emergency protection can be in place is 8 years and that end point is September 4, 2006. As such, in order to continue an import restriction beyond September 4, 2006, the Government of the Republic of Cyprus and the Government of the United States have amended the existing bilateral agreement on archaeological material to include the Byzantine material for the duration of the bilateral agreement which terminates on July 19, 2007 unless extended by the State Parties. Abstract: This document amends the Bureau of Customs and Border Protection (CBP) regulations by reflecting that the bilateral agreement of July 16, 2002 between Cyprus and the U.S. to impose certain import restrictions on archaeological material from Cyprus has been amended on August 11, 2006 to include import restrictions which had been previously imposed on an emergency basis for certain Byzantine period ecclesiastical and ritual ethnological material. The document amends 19 CFR 12.104g(b) of the CBP regulations by removing Byzantine Ecclesiastical and Ritual Ethnological Material from Cyprus from the list of import restrictions imposed by emergency action, and by including these materials under the listing of cultural property (section 12.104g(a)) protected pursuant to bilateral agreement, as amended. The document also contains the designated list of Byzantine ecclesiastical and ritual ethnological materials from Cyprus that describes the types of articles to which the restrictions apply. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action 08/31/06 71 FR 51724 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, Trade Compliance and Facilitation, Office of Field Operations, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Phone: 202 344-1684 RIN: 1505-AB72 BILLING CODE 4810--02--S _______________________________________________________________________ Department of the Treasury (TREAS) Prerule Stage Financial Crimes Enforcement Network (FINCEN) _______________________________________________________________________ 2435. 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 12/00/06 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Russell Stephenson, Snr. Compliance Admin. Spec., Department of the Treasury, Financial [[Page 73700]] Crimes Enforcement Network, Dept. of the Treasury/FinCEN, 1099 14th Street, NW., Suite 4600E, Washington, DC 20005 Phone: 202 354-6012 Fax: 202 354-6411 Email: russell.stephenson@fincen.gov RIN: 1506-AA39 _______________________________________________________________________ 2436. 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 12/00/06 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, Office of Regulatory Policy, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street, 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) _______________________________________________________________________ 2437. 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, Office of Regulatory Policy, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street, Suite 4600, Washington, DC 20005 Phone: 202 654-6400 RIN: 1506-AA38 _______________________________________________________________________ 2438. 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, Snr. Compliance Admin. Spec., Department of the Treasury, Financial Crimes Enforcement Network, Dept. of the Treasury/FinCEN, 1099 14th Street, NW., Suite 4600E, Washington, DC 20005 Phone: 202 354-6012 Fax: 202 354-6411 Email: russell.stephenson@fincen.gov RIN: 1506-AA40 _______________________________________________________________________ 2439. 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 [[Page 73701]] 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, Snr. Compliance Admin. Spec., Department of the Treasury, Financial Crimes Enforcement Network, Dept. of the Treasury/FinCEN, 1099 14th Street, NW., Suite 4600E, Washington, DC 20005 Phone: 202 354-6012 Fax: 202 354-6411 Email: russell.stephenson@fincen.gov RIN: 1506-AA41 _______________________________________________________________________ 2440. 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, Office of Regulatory Policy, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street, Suite 4600, Washington, DC 20005 Phone: 202 654-6400 Related RIN: Split from 1506-AA28 RIN: 1506-AA73 _______________________________________________________________________ 2441. 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 _______________________________________________________________________ 2442. 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 cashier's as reportable transactions in currency. 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, Office of Regulatory Policy, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street, Suite 4600, Washington, DC 20005 Phone: 202 654-6400 RIN: 1506-AA84 [[Page 73702]] _______________________________________________________________________ Department of the Treasury (TREAS) Final Rule Stage Financial Crimes Enforcement Network (FINCEN) _______________________________________________________________________ 2443. 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 _______________________________________________________________________ 2444. 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 _______________________________________________________________________ 2445. 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 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 _______________________________________________________________________ 2446. 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 NPRM 05/09/03 68 FR 25163 Final Rule 05/09/03 68 FR 25090 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, Office of Regulatory Policy, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street, Suite 4600, Washington, DC 20005 Phone: 202 654-6400 RIN: 1506-AA31 _______________________________________________________________________ 2447. 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 [[Page 73703]] 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, P.O. Box 39, Vienna, VA 22183 Phone: 703 905-3590 Fax: 703 905-3735 RIN: 1506-AA37 _______________________________________________________________________ 2448. 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 _______________________________________________________________________ 2449. 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 _______________________________________________________________________ 2450. IMPOSITION OF SPECIAL MEASURES AGAINST THE COMMERCIAL BANK OF SYRIA AS A FINANCIAL INSTITUTION OF PRIMARY MONEY LAUNDERING CONCERN Priority: Substantive, Nonsignificant Legal Authority: 31 USC 5318A CFR Citation: 31 CFR 103.188 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 05/18/04 69 FR 28098 NPRM Comment Period End 06/17/04 Final Action 03/15/06 71 FR 13260 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-AA64 _______________________________________________________________________ 2451. 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 [[Page 73704]] Fax: 703 905-3758 RIN: 1506-AA65 _______________________________________________________________________ 2452. 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 12/00/06 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 _______________________________________________________________________ 2453. 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, P.O. Box 39, Vienna, VA 22183 Phone: 703 905-3590 Fax: 703 905-3735 Related RIN: Split from 1506-AA28 RIN: 1506-AA68 _______________________________________________________________________ 2454. 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 _______________________________________________________________________ 2455. 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 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 _______________________________________________________________________ 2456. 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 [[Page 73705]] 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, P.O. Box 39, Vienna, VA 22183 Phone: 703 905-3590 Fax: 703 905-3735 Related RIN: Split from 1506-AA28 RIN: 1506-AA72 _______________________________________________________________________ 2457. 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, Office of Regulatory Policy, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street, Suite 4600, Washington, DC 20005 Phone: 202 654-6400 Related RIN: Split from 1506-AA28 RIN: 1506-AA74 _______________________________________________________________________ 2458. 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, Office of Regulatory Policy, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street, Suite 4600, Washington, DC 20005 Phone: 202 654-6400 Related RIN: Split from 1506-AA28 RIN: 1506-AA75 _______________________________________________________________________ 2459. 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, Office of Regulatory Policy, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street, Suite 4600, Washington, DC 20005 Phone: 202 654-6400 Related RIN: Split from 1506-AA28 RIN: 1506-AA76 _______________________________________________________________________ 2460. 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. 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, P.O. 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 _______________________________________________________________________ 2461. 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) [[Page 73706]] 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, Office of Regulatory Policy, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street, Suite 4600, Washington, DC 20005 Phone: 202 654-6400 Related RIN: Split from 1506-AA28 RIN: 1506-AA78 _______________________________________________________________________ 2462. 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, Office of Regulatory Policy, Department of the Treasury, Financial Crimes Enforcement Network, 1099 14th Street, Suite 4600, Washington, DC 20005 Phone: 202 654-6400 Related RIN: Split from 1506-AA28 RIN: 1506-AA79 _______________________________________________________________________ 2463. 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 _______________________________________________________________________ 2464. [bull] 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 73707]] _______________________________________________________________________ Department of the Treasury (TREAS) Long-Term Actions Financial Crimes Enforcement Network (FINCEN) _______________________________________________________________________ 2465. 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 BILLING CODE 4810--35--S _______________________________________________________________________ Department of the Treasury (TREAS) Proposed Rule Stage Financial Management Service (FMS) _______________________________________________________________________ 2466. 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 12/00/06 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 _______________________________________________________________________ 2467. MANAGEMENT OF FEDERAL AGENCY DISBURSEMENTS AND 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 208; 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 and 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 and 210.5 require 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 and part 208. FMS anticipates publishing the proposed rule with a 60-day comment period. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/00/07 NPRM Comment Period End 03/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: Federal 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 RIN: 1510-AB00 _______________________________________________________________________ 2468. [bull] 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. [[Page 73708]] Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/00/07 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 _______________________________________________________________________ Department of the Treasury (TREAS) Final Rule Stage Financial Management Service (FMS) _______________________________________________________________________ 2469. 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, a partial or installment payment on a debt should be applied to that charge first, then to penalties, other administrative charges, interest, and principal. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 03/00/07 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 Email: tom.dungan@fms.treas.gov RIN: 1510-AA91 _______________________________________________________________________ 2470. 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: 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 12/00/06 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 _______________________________________________________________________ 2471. ADMINISTRATIVE OFFSET AND CLAIMS COLLECTION UNDER RECIPROCAL AGREEMENTS WITH STATES Priority: Substantive, Nonsignificant Legal Authority: 31 USC 3716 CFR Citation: 31 CFR 285.6 Legal Deadline: None Abstract: This rule implements 31 U.S.C. 3716(h), which provides for the administrative offset of Federal payments to collect delinquent debts owed to States, provided the State has entered into a reciprocal agreement with the Secretary of the Treasury. This rule will not address past-due support debts, which are collected pursuant to 31 CFR 285.1. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 12/00/06 Regulatory Flexibility Analysis Required: 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 Email: tom.dungan@fms.treas.gov RIN: 1510-AB09 _______________________________________________________________________ 2472. [bull] 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 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 fiscal agents of the United States and to clarify definitions and obligations. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 10/00/07 [[Page 73709]] 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 _______________________________________________________________________ 2473. [bull] 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) _______________________________________________________________________ 2474. OBTAINING PAYMENTS FROM THE JUDGMENT FUND AND UNDER PRIVATE RELIEF BILLS Priority: Substantive, Nonsignificant CFR Citation: 31 CFR 256 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Direct Final Rule 10/17/06 71 FR 60848 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Federal Agency Contact: Vivian Cooper Phone: 202 874-8380 Email: vivian.cooper@fms.treas.gov RIN: 1510-AA52 _______________________________________________________________________ 2475. OFFSET OF FEDERAL PAYMENTS TO COLLECT PAST-DUE LEGALLY ENFORCEABLE NONTAX DEBT Priority: Substantive, Nonsignificant CFR Citation: 31 CFR 285.5 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Withdrawn 08/16/06 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-AB05 _______________________________________________________________________ 2476. [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 Treasury, Financial Management Service, is amending 31 CFR part 208 to facilitate the delivery of relief and assistance payments to victims of disasters or emergencies. Part 208 implements the provisions of 31 U.S.C. 3332, which generally requires that Federal payments be made by electronic funds transfer (EFT). Under 31 U.S.C. 3332, the Secretary of the Treasury must ensure that any individual required to receive a Federal payment by EFT has access to an account at a financial institution at a reasonable cost and with certain consumer protections. This amendment implements 31 U.S.C. 3332 by providing that the Department of the Treasury may establish and administer accounts for disaster victims to allow for the delivery of Federal payments by EFT. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 08/07/06 71 FR 44584 Interim Final Rule Comment Period End 09/06/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Federal Agency Contact: Sally Phillips, Director, EFT Strategy Division, Department of the Treasury, Financial Management Service, 401 14th Street SW, Washington, DC 20227 Phone: 202 874-7106 Fax: 202 874-6965 Email: sally.phillips@fms.treas.gov RIN: 1510-AB07 _______________________________________________________________________ 2477. FEDERAL PROCESS AGENTS OF SURETY COMPANIES Priority: Substantive, Nonsignificant CFR Citation: 31 CFR 224 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Direct Final Rule 10/17/06 71 FR 60847 Regulatory Flexibility Analysis Required: No Government Levels Affected: Federal Agency Contact: Rose M. Miller [[Page 73710]] Phone: 202 874-6850 Fax: 202 874-9978 Email: rose.miller@fms.treas.gov RIN: 1510-AB08 BILLING CODE 4810--31--S _______________________________________________________________________ Department of the Treasury (TREAS) Prerule Stage Alcohol and Tobacco Tax and Trade Bureau (TTB) _______________________________________________________________________ ALCOHOL ____________________________________________________ 2478. 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 12/00/06 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 _______________________________________________________________________ 2479. 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. Legal Authority: 27 USC 205 CFR Citation: 27 CFR 4 Legal Deadline: None Abstract: The Alcohol and Tobacco Tax and Trade Bureau is considering amending the regulations concerning various winemaking terms commonly used on labels and in advertisements of wine products to provide the consumer with information about the growing and/or bottling conditions of the product. We wish to gather information by inviting comments from industry members, consumers, and other interested parties as to whether and to what extent the existing regulations should be revised. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 12/00/06 Regulatory Flexibility Analysis Required: 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-AB24 _______________________________________________________________________ Department of the Treasury (TREAS) Proposed Rule Stage Alcohol and Tobacco Tax and Trade Bureau (TTB) _______________________________________________________________________ ALCOHOL ____________________________________________________ 2480. PROHIBITION OF ALCOHOL BEVERAGE CONTAINERS AND STANDARD OF FILL FOR DISTILLED SPIRITS AND WINE Priority: Substantive, Nonsignificant Legal Authority: 27 USC 205 CFR Citation: 27 CFR 4 to 5; 27 CFR 7 Legal Deadline: None Abstract: TTB proposes to amend regulations to clarify the standards of fill for distilled spirits and wine. TTB also proposes to amend regulations to prohibit certain alcohol beverage containers that are likely to mislead consumers as to the identity or character of the distilled spirits, wine, or malt beverage products or to be confused with other (nonalcohol) food products. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 02/09/99 64 FR 6486 NPRM Comment Period End 04/12/99 Revised NPRM-Aggregate Packaging04/00/07 Revised NPRM-Deceptive Packaging04/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1512-AB89 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-AA07 _______________________________________________________________________ 2481. DENATURED SPIRITS, ARTICLES, AND NONBEVERAGE PRODUCTS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 [[Page 73711]] 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 12/00/06 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 _______________________________________________________________________ 2482. 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 12/00/06 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 _______________________________________________________________________ 2483. 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, taxpayment, recordkeeping, reporting, and segregation of products made by separate brewers. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None 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 _______________________________________________________________________ 2484. 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 12/00/06 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 _______________________________________________________________________ 2485. 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 [[Page 73712]] 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 12/00/06 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: 202 927-8210 Fax: 202 927-8525 Email: nancy.sutton@ttb.gov RIN: 1513-AB19 _______________________________________________________________________ 2486. 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 12/00/06 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: 202 927-8210 Fax: 202 927-8525 Email: nancy.sutton@ttb.gov RIN: 1513-AB20 _______________________________________________________________________ 2487. 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 12/00/06 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: 202 927-8210 Fax: 202 927-8525 Email: nancy.sutton@ttb.gov RIN: 1513-AB21 _______________________________________________________________________ 2488. 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 12/00/06 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: 202 927-8210 Fax: 202 927-8525 Email: nancy.sutton@ttb.gov RIN: 1513-AB26 _______________________________________________________________________ 2489. 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 12/00/06 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: 202 927-8210 Fax: 202 927-8525 Email: nancy.sutton@ttb.gov RIN: 1513-AB27 [[Page 73713]] _______________________________________________________________________ 2490. [bull] 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 12/00/06 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: 202 927-8210 Fax: 202 927-8525 Email: nancy.sutton@ttb.gov RIN: 1513-AB31 _______________________________________________________________________ 2491. [bull] PROPOSED AMENDMENT TO THE STANDARDS OF IDENTITY FOR DISTILLED SPIRITS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 27 USC 205(e) CFR Citation: 27 CFR 5.22 Legal Deadline: None Abstract: TTB has received a petition to 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 12/00/06 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 _______________________________________________________________________ 2492. [bull] 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 01/00/07 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 _______________________________________________________________________ FIREARMS ____________________________________________________ 2493. FIREARMS AND AMMUNITION EXCISE TAXES, CONSIGNMENT SALES OF IMPORTED ARTICLES Priority: Other Significant. Major status under 5 USC 801 is undetermined. 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 02/00/07 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 [[Page 73714]] _______________________________________________________________________ TOBACCO PRODUCTS ____________________________________________________ 2494. [bull] 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 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 12/00/06 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 _______________________________________________________________________ 2495. EXPORTATION OF LIQUORS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 27 CFR 28 Legal Deadline: None Abstract: TTB proposes the plain language revision of 27 CFR part 28 to eliminate obsolete or unnecessary rules and forms and streamline export processing, while providing adequate protection for the revenue. 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 ANPRM 08/09/96 61 FR 41500 ANPRM Comment Period End 12/10/96 NPRM 06/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: Transferred from RIN 1512-AA98 Agency Contact: Joanne Brady, TTB Specialist, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, P.O. Box 45797, Philadelphia, PA 19149 Phone: 215 333-7050 Fax: 215 333-8871 Email: joanne.brady@ttb.treas.gov RIN: 1513-AA00 _______________________________________________________________________ 2496. 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 275 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 12/00/06 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 _______________________________________________________________________ 2497. 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 01/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: Transferred from RIN 1512-AC79 [[Page 73715]] 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 _______________________________________________________________________ 2498. 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 12/00/06 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 _______________________________________________________________________ 2499. 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 01/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses 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 Susan Weil, Assistant Director, ALFD, Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, 1510 G Street NW., Room 400W, Washington, DC 20220 Phone: 202 927-8122 Fax: 202 927-8487 Email: susan.weil@ttb.gov RIN: 1513-AB28 _______________________________________________________________________ 2500. [bull] 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. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/00/07 Interim Final Rule 01/00/07 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 _______________________________________________________________________ 2501. [bull] 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. As part of this revision, we will propose moving to our Web site the lists of approved maps and boundary description sections for each approved American viticultural area published in the CFR. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/00/07 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 [[Page 73716]] _______________________________________________________________________ Department of the Treasury (TREAS) Final Rule Stage Alcohol and Tobacco Tax and Trade Bureau (TTB) _______________________________________________________________________ ALCOHOL ____________________________________________________ 2502. 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 01/00/07 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 _______________________________________________________________________ 2503. PETITION TO ESTABLISH THE OUTER COASTAL PLAIN 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 proposing to establish the Outer Coastal Plain viticultural area in southeast New Jersey. The 2,255,400- acre area includes all of Cape May, Atlantic Ocean, and Cumberland Counties and portions of Salem, Gloucester, Camden, Burlington, and Monmouth Counties. Currently, the area has 1,227 vineyard acres. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/03/06 71 FR 37870 NPRM Comment Period End 09/01/06 Final Rule 03/00/07 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-AB13 _______________________________________________________________________ 2504. 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 amended section 5061 of the Internal Revenue Code of 1986. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Temporary Rule With NPRM 02/02/06 71 FR 5598 Temporary Rule Effective Date 01/01/06 NPRM 02/02/06 71 FR 5629 NPRM Comment Period End 04/03/06 Final Rule 12/00/06 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 _______________________________________________________________________ 2505. 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 02/00/07 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: 202 927-8210 Fax: 202 927-8525 Email: nancy.sutton@ttb.gov RIN: 1513-AB18 _______________________________________________________________________ 2506. 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 [[Page 73717]] 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 03/00/07 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: 202 927-8210 Fax: 202 927-8525 Email: nancy.sutton@ttb.gov RIN: 1513-AB22 _______________________________________________________________________ 2507. 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 03/00/07 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: 202 927-8210 Fax: 202 927-8525 Email: nancy.sutton@ttb.gov RIN: 1513-AB23 _______________________________________________________________________ 2508. [bull] TECHNICAL AMENDMENT TO REGULATIONS Priority: Substantive, Nonsignificant Legal Authority: 27 USC 205(e) CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: Amend 27 CFR 9.32, Los Carneros viticultural area, to include the name. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Rule 12/00/06 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: 202 927-8210 Fax: 202 927-8525 Email: nancy.sutton@ttb.gov RIN: 1513-AB32 _______________________________________________________________________ FIREARMS ____________________________________________________ 2509. FIREARMS EXCISE TAX; EXEMPTION FOR SMALL MANUFACTURERS, PRODUCERS, AND IMPORTERS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. 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 12/00/06 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 [[Page 73718]] _______________________________________________________________________ TOBACCO PRODUCTS ____________________________________________________ 2510. [bull] 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 01/00/07 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 _______________________________________________________________________ 2511. [bull] 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 01/00/07 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 _______________________________________________________________________ 2512. 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 12/00/06 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 Phone: 202 927-8210 Fax: 202 927-8525 Email: marjorie.ruhf@ttb.gov RIN: 1513-AA05 _______________________________________________________________________ 2513. 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 275 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 [[Page 73719]] Interim Final Rule Comment Period End 05/03/00 65 FR 17477 Final Rule 01/00/07 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 _______________________________________________________________________ 2514. 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 01/00/07 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 _______________________________________________________________________ 2515. 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 12/00/06 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 _______________________________________________________________________ 2516. PETITION TO ESTABLISH ``CHEHALEM MOUNTAINS'' 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 has received a petition proposing the establishment of the ``Chehalem Mountains'' viticultural area located in Yamhill, Washington, and Clackamas Counties, Oregon. The draft final rule is in review. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 10/07/03 68 FR 57840 NPRM Comment Period End 12/08/03 Final Rule 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: Transferred from RIN 1512-AD02 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: 202 927-8210 Fax: 202 927-8525 Email: nancy.sutton@ttb.gov RIN: 1513-AA57 _______________________________________________________________________ 2517. LABELING AND ADVERTISING OF MALT BEVERAGES Priority: Substantive, Nonsignificant Legal Authority: 27 USC 205 CFR Citation: 27 CFR 7 Legal Deadline: None Abstract: This project revises malt beverage labeling and advertising regulations in plain language, and updates titles and definitions to reflect the status of TTB. This revision makes no substantive changes to 27 CFR part 7. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/27/02 67 FR 43496 NPRM Comment Period End 08/26/02 NPRM Comment Period Extended 08/27/02 67 FR 54388 Comment Period Extended End 09/25/02 Final Rule 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Additional Information: Transferred from RIN 1512-AC10 URL For Public Comments: [[Page 73720]] www.ttb.gov/foia/nprm--comments/ notice946--comments.htm 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-AA60 _______________________________________________________________________ 2518. 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 12/00/06 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: 202 927-8210 Fax: 202 927-8525 Email: nancy.sutton@ttb.gov RIN: 1513-AA64 _______________________________________________________________________ 2519. PETITION TO ESTABLISH THE ``SHAWNEE HILLS'' VITICULTURAL AREA Priority: Routine and Frequent Legal Authority: 27 USC 205(e) CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: TTB requests comments concerning the proposed establishment of the ``Shawnee Hills'' viticultural area in southern Illinois. The proposed Shawnee Hills viticultural area is approximately 80 miles long from the Ohio River on the east to the Mississippi River on the west, and approximately 20 miles wide from north to south. Approximately 160 acres are planted with wine varietals. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/08/05 70 FR 17940 NPRM Comment Period End 06/07/05 Final Rule 12/00/06 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-AA70 _______________________________________________________________________ 2520. PROPOSED ESTABLISHMENT OF TRACY HILLS VITICULTURAL AREA Priority: Routine and Frequent Legal Authority: 27 USC 205 CFR Citation: 27 CFR 9 Legal Deadline: None Abstract: The Alcohol and Tobacco Tax and Trade Bureau proposes to establish the 39,200-acre Tracy Hills viticultural area in San Joaquin and Stanislaus Counties, California, approximately 55 miles east- southeast of San Francisco. The sloping hillside topography includes streams and alluvial fans and plains. The distinguishing climatic features of the proposed area include limited rainfall and persistent winds, along with sparse fog, frost, and dew. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/07/05 70 FR 72733 NPRM Comment Period End 02/06/06 Final Rule 12/00/06 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, Room 200E, 1310 G Street NW., Washington, DC 20220 Phone: 202 927-8210 Fax: 202 927-8525 Email: nancy.sutton@ttb.gov RIN: 1513-AA89 _______________________________________________________________________ 2521. 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 12/00/06 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-AA92 [[Page 73721]] _______________________________________________________________________ 2522. 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 01/00/07 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 _______________________________________________________________________ 2523. 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 _______________________________________________________________________ Department of the Treasury (TREAS) Long-Term Actions Alcohol and Tobacco Tax and Trade Bureau (TTB) _______________________________________________________________________ ALCOHOL ____________________________________________________ 2524. MAJOR FOOD ALLERGEN LABELING FOR WINES, DISTILLED SPIRITS, AND MALT BEVERAGES Priority: Other Significant CFR Citation: 27 CFR 4.32; 27 CFR 5.32; 27 CFR 7.22 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 Final Rule 01/00/08 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Jessica M. Bungard Phone: 202 927-8210 Fax: 202 927-8525 Email: jessica.bungard@ttb.gov Related RIN: Related to 1513-AB07 RIN: 1513-AB08 _______________________________________________________________________ Administrative/Procedures ____________________________________________________ 2525. AVAILABILITY OF INFORMATION Priority: Info./Admin./Other CFR Citation: 27 CFR 70 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Jessica Bungard Phone: 202 927-8210 Fax: 202 927-8525 Email: jessica.bungard@ttb.gov RIN: 1513-AA98 [[Page 73722]] _______________________________________________________________________ TOBACCO PRODUCTS ____________________________________________________ 2526. 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 CFR Citation: 27 CFR 45.31 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: Linda W. Chapman Phone: 202 927-8210 Fax: 202 927-8525 Email: linda.chapman@ttb.gov RIN: 1513-AA99 _______________________________________________________________________ 2527. 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 _______________________________________________________________________ 2528. 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 _______________________________________________________________________ 2529. PROPOSED REVISIONS TO THE DISTILLED SPIRITS PLANT REGULATIONS Priority: Substantive, Nonsignificant CFR Citation: 27 CFR 19 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 Phone: 202 927-8210 Fax: 202 927-8525 Email: daniel.hiland@ttb.gov RIN: 1513-AA23 _______________________________________________________________________ Department of the Treasury (TREAS) Completed Actions Alcohol and Tobacco Tax and Trade Bureau (TTB) _______________________________________________________________________ 2530. PETITION TO ESTABLISH SAN ANTONIO VALLEY AS A NEW AMERICAN VITICULTURAL AREA Priority: Routine and Frequent CFR Citation: 27 CFR 9 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 06/08/06 71 FR 33239 Final Rule Effective 07/10/06 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-AB02 _______________________________________________________________________ 2531. PROPOSED CHANGE TO VINTAGE DATE REQUIREMENTS Priority: Substantive, Nonsignificant CFR Citation: 27 CFR 4.27 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 05/02/06 71 FR 25748 Final Rule Effective 06/01/06 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-AB11 _______________________________________________________________________ 2532. PETITION TO ESTABLISH THE RATTLESNAKE HILLS AMERICAN VITICULTURAL AREA Priority: Routine and Frequent CFR Citation: 27 CFR 9 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 02/16/06 71 FR 8206 Final Rule Effective 03/20/06 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-AB14 [[Page 73723]] _______________________________________________________________________ 2533. PETITION TO ESTABLISH THE SADDLE ROCK-MALIBU AMERICAN VITICULTURAL AREA Priority: Routine and Frequent CFR Citation: 27 CFR 9 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 07/17/06 71 FR 40397 Final Rule Effective 08/16/06 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-AB15 _______________________________________________________________________ 2534. USE OF THE WORDS SCOTCH ALE OR SCOTTISH ALE OR ITS VARIANTS ON LABELS OR IN ADVERTISING OF MALT BEVERAGE PRODUCTS; REQUEST FOR PUBLIC COMMENT Priority: Substantive, Nonsignificant CFR Citation: 27 CFR 7.24 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Withdrawn 07/26/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Ramona L. Hupp Phone: 202 927-8210 Fax: 202 927-8525 Email: ramona.hupp@ttb.gov RIN: 1513-AB30 _______________________________________________________________________ 2535. ADMINISTRATIVE CHANGES TO ALCOHOL, TOBACCO, AND FIREARMS REGULATIONS DUE TO THE HOMELAND SECURITY ACT OF 2002 Priority: Info./Admin./Other CFR Citation: 27 CFR 1; 27 CFR 4 to 6; 27 CFR 8; . . . Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 04/04/06 71 FR 16918 Final Rule Effective 03/31/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: 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-AA80 _______________________________________________________________________ 2536. TAX-PAID DISTILLED SPIRITS USED IN MANUFACTURING PRODUCTS UNFIT FOR BEVERAGE USE Priority: Substantive, Nonsignificant CFR Citation: 27 CFR 17 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Withdrawn 08/09/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Linda W. Chapman Phone: 202 927-8181 Fax: 202 927-8525 Email: linda.chapman@ttb.gov RIN: 1513-AA37 _______________________________________________________________________ 2537. PETITION TO ESTABLISH ``EOLA-AMITY HILLS'' AS A NEW AMERICAN VITICULTURAL AREA Priority: Routine and Frequent CFR Citation: 27 CFR 9 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 07/17/06 71 FR 40400 Final Rule Effective 08/16/06 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-AA41 _______________________________________________________________________ 2538. PETITION TO EXPAND THE LIVERMORE VALLEY VITICULTURAL AREA Priority: Routine and Frequent CFR Citation: 27 CFR 9 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 06/15/06 71 FR 34527 Final Rule Effective 07/17/06 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-AA54 _______________________________________________________________________ 2539. SAN FRANCISCO BAY AND CENTRAL COAST VITICULTURAL AREAS--BOUNDARY REALIGNMENT/EXPANSION Priority: Routine and Frequent CFR Citation: 27 CFR 9 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 06/15/06 71 FR 34522 Final Rule Effective 07/17/06 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-AA55 _______________________________________________________________________ 2540. PROPOSED AMENDED BOUNDARIES FOR THE SANTA LUCIA HIGHLANDS AND THE ARROYO SECO VITICULTURAL AREA Priority: Routine and Frequent CFR Citation: 27 CFR 9.139; 27 CFR 9.59 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 06/15/06 71 FR 34525 Final Rule Effective 07/17/06 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-AA72 [[Page 73724]] _______________________________________________________________________ 2541. PROPOSED ESTABLISHMENT OF ALTA MESA VITICULTURAL AREA Priority: Routine and Frequent CFR Citation: 27 CFR 9 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 07/17/06 71 FR 40404 Final Rule Effective 08/16/06 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-AA82 _______________________________________________________________________ 2542. PROPOSED ESTABLISHMENT OF THE COSUMNES RIVER VITICULTURAL AREA Priority: Routine and Frequent CFR Citation: 27 CFR 9 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 07/17/06 71 FR 40404 Final Rule Effective 08/16/06 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-AA83 _______________________________________________________________________ 2543. PROPOSED ESTABLISHMENT OF SLOUGHHOUSE VITICULTURAL AREA Priority: Routine and Frequent CFR Citation: 27 CFR 9 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 07/17/06 71 FR 40404 Final Rule Effective 08/16/06 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-AA84 _______________________________________________________________________ 2544. PROPOSED ESTABLISHMENT OF MOKELUMNE RIVER VITICULTURAL AREA Priority: Routine and Frequent CFR Citation: 27 CFR 9 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 07/17/06 71 FR 40404 Final Rule Effective 08/16/06 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-AA85 _______________________________________________________________________ 2545. PROPOSED ESTABLISHMENT OF JAHANT VITICULTURAL AREA Priority: Routine and Frequent CFR Citation: 27 CFR 9 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 07/17/06 71 FR 40404 Final Rule Effective 08/16/06 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-AA86 _______________________________________________________________________ 2546. PROPOSED ESTABLISHMENT OF BORDEN RANCH VITICULTURAL AREA Priority: Routine and Frequent CFR Citation: 27 CFR 9 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 07/17/06 71 FR 40404 Final Rule Effective 08/16/06 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-AA87 _______________________________________________________________________ 2547. PROPOSED ESTABLISHMENT OF CLEMENTS HILLS VITICULTURAL AREA Priority: Routine and Frequent CFR Citation: 27 CFR 9 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 07/17/06 71 FR 40404 Final Rule Effective 08/16/06 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-AA88 _______________________________________________________________________ 2548. PROPOSED ESTABLISHMENT OF COVELO VITICULTURAL AREA Priority: Routine and Frequent CFR Citation: 27 CFR 9 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 02/16/06 71 FR 8202 Final Rule Effective 03/20/06 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-AA90 _______________________________________________________________________ 2549. PROPOSED MODIFICATION OF VINTAGE DATE REQUIREMENTS Priority: Substantive, Nonsignificant CFR Citation: 27 CFR 4.27 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Withdrawn 08/01/06 [[Page 73725]] 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-AB29 BILLING CODE 4810--33--S _______________________________________________________________________ Department of the Treasury (TREAS) Proposed Rule Stage Comptroller of the Currency (OCC) _______________________________________________________________________ 2550. 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 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 recent 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; to 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; update and make technical corrections to part 37; and 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. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: 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 _______________________________________________________________________ 2551. INTERAGENCY PROPOSAL TO CONSIDER ALTERNATIVE FORMS OF PRIVACY NOTICES UNDER THE GRAMM-LEACH-BLILEY ACT Priority: Substantive, Nonsignificant Legal Authority: 15 USC 6801 et seq CFR Citation: 12 CFR 40 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, the Federal Trade Commission, the Commodities Futures Trading Commission, and the Securities and Exchange Commission jointly are considering amending their rules that implement sections 502 and 503 of the Gramm-Leach-Bliley Act to allow or require financial institutions to provide alternative types of privacy notices, such as a short form privacy notice, which would be easier for consumers to understand. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 12/30/03 68 FR 75164 ANPRM Comment Period End 03/29/04 NPRM 04/00/07 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-AC80 _______________________________________________________________________ 2552. 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 [[Page 73726]] 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 02/00/07 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 _______________________________________________________________________ 2553. IMPLEMENTATION OF A REVISED BASEL CAPITAL ACCORD (BASEL II) Regulatory Plan: This entry is Seq. No. 95 in part II of this issue of the Federal Register. RIN: 1557-AC91 _______________________________________________________________________ 2554. RISK-BASED CAPITAL GUIDELINES; CAPITAL ADEQUACY GUIDELINES; CAPITAL MAINTENANCE: DOMESTIC CAPITAL MODIFICATIONS (BASEL IA) Regulatory Plan: This entry is Seq. No. 96 in part II of this issue of the Federal Register. RIN: 1557-AC95 _______________________________________________________________________ 2555. RISK-BASED CAPITAL STANDARDS: MARKET RISK Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. 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 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 _______________________________________________________________________ Department of the Treasury (TREAS) Final Rule Stage Comptroller of the Currency (OCC) _______________________________________________________________________ 2556. IDENTITY THEFT DETECTION, PREVENTION, AND MITIGATION PROGRAM FOR FINANCIAL INSTITUTIONS AND CREDITORS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. 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 proposal to establish guidelines and regulations to implement section 114 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 (CRA), 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 [[Page 73727]] the CRA. The policies and procedures must enable the user to form a reasonable belief that the user knows the identity of the consumer to whom the consumer report pertains. In addition, the regulation must require a user that establishes a continuing relationship with a consumer to furnish to the consumer reporting agency that provided the notice of discrepancy the correct address of the consumer as part of the information that the user regularly furnishes for the period in which the relationship is established. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/18/06 71 FR 40786 NPRM Comment Period End 09/18/06 Final Action 04/00/07 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 _______________________________________________________________________ 2557. FAIR CREDIT REPORTING: AFFILIATE MARKETING REGULATIONS Priority: Other Significant. Major status under 5 USC 801 is undetermined. 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 01/00/07 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 _______________________________________________________________________ Department of the Treasury (TREAS) Long-Term Actions Comptroller of the Currency (OCC) _______________________________________________________________________ 2558. 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 Small Entities Affected: 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 _______________________________________________________________________ Department of the Treasury (TREAS) Completed Actions Comptroller of the Currency (OCC) _______________________________________________________________________ 2559. ASSESSMENT OF FEES Priority: Substantive, Nonsignificant CFR Citation: 12 CFR 8 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action 07/25/06 71 FR 42017 Final Action Effective 08/24/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Jean Campbell Phone: 202 874-5090 Fax: 202 874-4889 Email: jean.campbell@occ.treas.gov RIN: 1557-AC96 BILLING CODE 4830--01--S [[Page 73728]] _______________________________________________________________________ Department of the Treasury (TREAS) Proposed Rule Stage Internal Revenue Service (IRS) _______________________________________________________________________ 2560. 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. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/23/88 53 FR 23659 Second NPRM 12/00/06 Final Action 12/00/06 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: 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-AC09 _______________________________________________________________________ 2561. 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 05/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-209006-89 (INTL-089-89) Drafting attorney: Christopher Trump (202) 622-3840 Reviewing attorney: Charles P. Besecky (202) 622-3860 CC:INTL Agency Contact: Christopher L. Trump, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3840 RIN: 1545-AM97 _______________________________________________________________________ 2562. 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 12/00/06 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: Patricia Brown (202) 622-1781 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 _______________________________________________________________________ 2563. 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 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Local, State Federalism: Undetermined Additional Information: REG-209558-92 [[Page 73729]] 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 Service, 1111 Constitution Avenue NW, CC: TEGE: EB: QP1, Washington, DC 20224 Phone: 202 622-6090 Fax: 202 927-1851 Email: christopher.a.crouch@ irscounsel.treas.gov RIN: 1545-AQ74 _______________________________________________________________________ 2564. 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 12/00/06 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 Treasury attorney: Patricia Brown (202) 622-1781 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 _______________________________________________________________________ 2565. 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 12/00/06 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 _______________________________________________________________________ 2566. 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 12/00/06 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 _______________________________________________________________________ 2567. TRANSPORTATION OF PERSONS AND PROPERTY BY AIR Priority: Substantive, Nonsignificant Legal Authority: 26 USC 4261; 26 USC 4271; 26 USC 7805 CFR Citation: 26 CFR 49 Legal Deadline: None Abstract: The proposed regulations provide guidance concerning the excise taxes imposed on the amounts paid for the transportation of persons and property by air. 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-106167-98 [[Page 73730]] Drafting attorney: Taylor Cortright (202) 622-3130 Reviewing attorneys: Frank K. 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 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3130 RIN: 1545-AW19 _______________________________________________________________________ 2568. 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 Sleeth (202) 622-3920 Reviewing attorney: Elizabeth Handler (202) 622-3920 Treasury attorney: Michael Novey (202) 622-1339 CC:FI Agency Contact: Kathleen Sleeth, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3920 RIN: 1545-AW97 _______________________________________________________________________ 2569. 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 12/00/06 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-115557-98 Drafting attorney: Edward R. Barret (202) 622-3880 Reviewing attorney: Elizabeth U. Karzon (202) 622-3880 Treasury attorney: Gretchen Sierra (202) 622-1755 CC:INTL Agency Contact: 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-AX02 _______________________________________________________________________ 2570. 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 12/00/06 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 _______________________________________________________________________ 2571. 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: Anita Soucy (202) 622-1766 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 [[Page 73731]] _______________________________________________________________________ 2572. 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 12/00/06 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 _______________________________________________________________________ 2573. HIGHLY COMPENSATED EMPLOYEE Priority: Substantive, Nonsignificant Legal Authority: 26 USC 414 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will provide the definition of highly compensated employee. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-111277-99 Drafting attorney: Christopher A. Crouch (202) 622-6090 Reviewing attorney: E. Preston Rutledge (202) 622-6090 CC: TEGE Agency Contact: Christopher A. Crouch, Attorney Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, CC: TEGE: EB: QP1, Washington, DC 20224 Phone: 202 622-6090 Fax: 202 927-1851 Email: christopher.a.crouch@ irscounsel.treas.gov RIN: 1545-AX48 _______________________________________________________________________ 2574. TAXABLE YEARS OF CONTROLLED FOREIGN CORPORATIONS (CFCS) AND FOREIGN PERSONAL HOLDING COMPANIES (FPHCS) 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 12/00/06 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 Phone: 202 622-3840 RIN: 1545-AY30 _______________________________________________________________________ 2575. 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 12/00/06 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, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4970 RIN: 1545-AY39 _______________________________________________________________________ 2576. 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 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No [[Page 73732]] 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 _______________________________________________________________________ 2577. 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 06/00/07 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 _______________________________________________________________________ 2578. 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 _______________________________________________________________________ 2579. 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. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/06 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 _______________________________________________________________________ 2580. 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 12/00/06 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 [[Page 73733]] 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 _______________________________________________________________________ 2581. 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 _______________________________________________________________________ 2582. 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: James A. Quinn (202) 622-3070 Reviewing attorney: Christine Ellison (202) 622-3070 CC: PSI Agency Contact: James A. Quinn, Senior Counsel, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3070 RIN: 1545-BA84 _______________________________________________________________________ 2583. MIXED USE OUTPUT FACILITIES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation describes rules relating to mixed use output facilities. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 09/23/02 67 FR 59767 NPRM 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: Local, State Federalism: Undetermined Additional Information: REG-142599-02 Drafting attorney: Johanna Som de Cerff (202) 622-3980 Treasury attorney: John Cross (202) 622-1322 CC: TEGE Agency Contact: Johanna Som de Cerff, Senior Technican Reviewer, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3980 RIN: 1545-BB23 _______________________________________________________________________ 2584. 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 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 _______________________________________________________________________ 2585. 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 [[Page 73734]] 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 ________________________________________________________________________ NPRM 05/00/07 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 _______________________________________________________________________ 2586. 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 12/00/06 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 _______________________________________________________________________ 2587. 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 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-157711-02 Drafting attorney: Phoebe Bennett (202) 622-7388 Reviewing attorney: Theresa Abell (202) 622-4117 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 RIN: 1545-BB61 _______________________________________________________________________ 2588. 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 12/00/06 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 _______________________________________________________________________ 2589. GENERAL ALLOCATION AND ACCOUNTING REGULATIONS Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation provides rules for the allocation of and accounting for bond proceeds for purposes of determining whether bonds are private activity bonds under section 141 of the Internal Revenue Code. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: Local, State Federalism: Undetermined Additional Information: REG-140379-02 [[Page 73735]] Drafting attorney: Johanna Som de Cerff (202) 622-3980 CC: TEGE Agency Contact: Johanna Som de Cerff, Senior Technican Reviewer, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3980 RIN: 1545-BC07 _______________________________________________________________________ 2590. 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 12/00/06 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 _______________________________________________________________________ 2591. 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 12/00/06 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: Andrew Froberg (202) 622-1779 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 _______________________________________________________________________ 2592. 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 03/00/07 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 [[Page 73736]] _______________________________________________________________________ 2593. 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. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/31/03 68 FR 44905 NPRM 12/00/06 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: Michael Desmond (202) 622-1981 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 _______________________________________________________________________ 2594. 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 12/00/06 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 _______________________________________________________________________ 2595. 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 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-209226-84 Drafting attorney: David B. Silber (202) 622-3930 Reviewing attorney: William Blanchard (202) 622-3950 Treasury attorney: Viva Hammer (202) 622-0869 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-BC78 _______________________________________________________________________ 2596. 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 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 12/00/06 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 [[Page 73737]] _______________________________________________________________________ 2597. 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 and Viva Hammer (202) 622-0869 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 _______________________________________________________________________ 2598. 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 12/00/06 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: Richard Coss (202) 622-7790 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 _______________________________________________________________________ 2599. 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 12/00/06 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 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 _______________________________________________________________________ 2600. 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 12/00/06 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 Treasury attorney: Andrew D. Froberg (202) 622-1779 CC:INTL Agency Contact: Ana C. Guzman, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, [[Page 73738]] 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 _______________________________________________________________________ 2601. 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 Sleeth (202) 622-3920 Reviewing attorney: Dale Collinson (202) 622-3920 Treasury attorney: Michael Novey (202) 622-1339 CC:FI Agency Contact: Kathleen Sleeth, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3920 RIN: 1545-BD18 _______________________________________________________________________ 2602. 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 12/00/06 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 _______________________________________________________________________ 2603. 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 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-147136-03 Drafting attorney: Timothy 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 _______________________________________________________________________ 2604. 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 12/00/06 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 Treasury attorney: Matthew Lay (202) 622-1788 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 _______________________________________________________________________ 2605. CLASSIFICATION OF INDIAN TRIBAL CORPORATIONS Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined [[Page 73739]] 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: Barbara Campbell (202) 622-3050 Reviewing attorney: Dianna Miosi (202) 622-3050 CC:PSI Agency Contact: Barbara Campbell, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3050 RIN: 1545-BD61 _______________________________________________________________________ 2606. 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 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Undetermined Federalism: Undetermined Additional Information: REG-143716-04 Drafting attorney: William Blodgett (202) 622-3090 Reviewing attorney: George Masnik (202) 622-3090 Treasury attorney: Cathy 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 _______________________________________________________________________ 2607. REGULATIONS UNDER SECTION 706 REGARDING DETERMINATION OF DISTRIBUTIVE SHARE 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 12/00/06 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 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 _______________________________________________________________________ 2608. 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 06/00/07 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 _______________________________________________________________________ 2609. 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 06/00/07 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 [[Page 73740]] Reviewing attorney: David Haglund (202) 622-3050 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 _______________________________________________________________________ 2610. 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 procedually 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: Jeffery G. Mitchell (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 _______________________________________________________________________ 2611. 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 07/00/07 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 Weiss, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7790 RIN: 1545-BD84 _______________________________________________________________________ 2612. 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 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-148576-04 Drafting attorney: Timothy 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 _______________________________________________________________________ 2613. 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 04/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: Undetermined Federalism: Undetermined Additional Information: REG-153838-04 Drafting attorney: Deborah Karet (202) 622-3130 Reviewing attorney: Frank Boland (202) 622-3130 and Curtis Wilson (202) 622-3000 [[Page 73741]] Treasury attorney: John Parcell (202) 622-2578 CC: PSI Agency Contact: Deborah Karet, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3130 RIN: 1545-BE03 _______________________________________________________________________ 2614. INTRA-GROUP GROSS RECEIPTS UNDER SECTION 41 Priority: Substantive, Nonsignificant Legal Authority: 26 USC 41; 26 USC 7805 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 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Undetermined Additional Information: REG-159420-04 Drafting attorney: Jaime 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 RIN: 1545-BE14 _______________________________________________________________________ 2615. 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 12/00/06 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-161695-04 Drafting attorney: Amy J. Pfalzgraf (202) 622-4950 Treasury attorney: John Parcell (202) 622-2578 CC: ITA Agency Contact: Amy J. Pfalzgraf, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4950 Related RIN: Related to 1545-BE39 RIN: 1545-BE23 _______________________________________________________________________ 2616. 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 regulations for reportable transactions under section 1.6011-4. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/06 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-103038-05 Drafting attorney: Tara P. Volungis (202) 622-3080 Reviewing attorney: Christine Ellison (202) 622-3080 Treasury attorney: Michael Desmond (202) 622-1981 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-BE25 RIN: 1545-BE24 _______________________________________________________________________ 2617. 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 12/00/06 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-103039-05 Drafting attorney: Tara P. Volungis (202) 622-3080 Reviewing attorney: Christine Ellison (202) 622-3080 Treasury attorney: Michael Desmond (202) 622-1981 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-BE27 RIN: 1545-BE26 _______________________________________________________________________ 2618. 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.'' [[Page 73742]] Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/06 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-103043-05 Drafting attorney: Tara P. Volungis (202) 622-3080 Reviewing attorney: Christine Ellison (202) 622-3080 Treasury attorney: Michael Desmond (202) 622-1981 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-BE29 RIN: 1545-BE28 _______________________________________________________________________ 2619. 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 04/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: Undetermined Federalism: Undetermined Additional Information: REG-103380-05 Drafting attorney: Celia Gabrysh (202) 622-3130 Reviewing attorneys: Barbara Franklin (202) 622-3130 and Curt 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 _______________________________________________________________________ 2620. 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 12/00/06 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 _______________________________________________________________________ 2621. DEFINITION OF DEPENDENT AND OTHER RELATED PROVISIONS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Unfunded Mandates: Undetermined Legal Authority: 26 USC 7805; 26 USC 152 CFR Citation: Not Yet Determined Legal Deadline: None Abstract: This project will update regulations under sections 2, 151, 152, and other sections of the Internal Revenue Code that refer to the definition of ``dependent'' in section 152, as amended by the Working Families Tax Relief Act of 2004. 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-106682-05 Drafting attorney: Victoria J. Driscoll (202) 622-4920 Reviewing attorney: Donna J. Welch (202) 622-4920 Treasury attorney: Eric San Juan (202) 622-0224 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-BE40 _______________________________________________________________________ 2622. 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 12/00/06 Regulatory Flexibility Analysis Required: No [[Page 73743]] Small Entities Affected: No Government Levels Affected: Federal Additional Information: REG-114444-05 Drafting attorney: Karen Keller (202) 283-7919 Reviewing attorney: Neil B. Worden (202) 283-7911 Treasury attorney: Michael Desmond (202) 622-1981 CC:GLS:CL Agency Contact: Karen Keller, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7919 Related RIN: Related to 1545-BE46 RIN: 1545-BE45 _______________________________________________________________________ 2623. 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 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-110405-05 Drafting attorney: Jay M. Singer (202) 622-7530 Reviewing attorney: Filiz Serbes (202) 622-3703 Treasury attorney: Marc Countryman (202) 622-9858 CC: COR Agency Contact: Jay M. Singer, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7530 Related RIN: Related to 1545-BE59 RIN: 1545-BE58 _______________________________________________________________________ 2624. 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. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 03/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Undetermined Additional Information: REG-124148-05 Drafting attorney: Nicole R. Cimino (202) 622-3120 Reviewing attorney: Leslie Finlow (202) 622-3120 Treasury attorney: Sharon Kay (202) 622-0865 CC:PSI Agency Contact: Nicole R. Cimino, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3120 RIN: 1545-BE64 _______________________________________________________________________ 2625. 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 12/00/06 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, CC: TEGE: EB: QP1, Washington, DC 20224 Phone: 202 622-6090 Fax: 202 927-1851 Email: christopher.a.crouch@ irscounsel.treas.gov RIN: 1545-BE69 _______________________________________________________________________ 2626. INFORMATION REPORTING ON REAL ESTATE TRANSACTIONS Priority: Info./Admin./Other Legal Authority: 26 USC 6011; 26 USC 6045 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 12/00/06 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-155669-04 Drafting attorney: William Kostak (202) 622-4910 Reviewing attorney: James C. Gibbons (202) 622-4910 CC:PA:APJ Agency Contact: William M. Kostak, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4910 RIN: 1545-BE73 [[Page 73744]] _______________________________________________________________________ 2627. 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 12/00/06 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 _______________________________________________________________________ 2628. 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 12/00/06 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 _______________________________________________________________________ 2629. 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 12/07/06 Public Hearing 01/00/07 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 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 Related RIN: Related to 1545-BE91 RIN: 1545-BE90 _______________________________________________________________________ 2630. 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: 2 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: 703 605-1905 [[Page 73745]] Email: bradford.r.poston@irscounsel.treas.gov RIN: 1545-BE95 _______________________________________________________________________ 2631. 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 12/00/06 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 _______________________________________________________________________ 2632. 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 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 _______________________________________________________________________ 2633. 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 _______________________________________________________________________ 2634. CAFETERIA PLANS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 125 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 [[Page 73746]] _______________________________________________________________________ 2635. 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 12/00/06 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 _______________________________________________________________________ 2636. 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 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3130 RIN: 1545-BF07 _______________________________________________________________________ 2637. 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 12/00/06 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 _______________________________________________________________________ 2638. 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 04/00/07 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 _______________________________________________________________________ 2639. 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 [[Page 73747]] 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 12/00/06 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-116372-03 Drafting attorney: Laurence K. Williams (202) 622-3600 Reviewing attorney: Michael Gompertz (202) 622-3620 Treasury attorney: Michael Desmond (202) 622-1981 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 _______________________________________________________________________ 2640. 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 12/00/06 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-152043-05 Drafting Attorney: Marnette M. Myers (202) 622-4920 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 _______________________________________________________________________ 2641. 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 06/00/07 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: 202 622-7930 RIN: 1545-BF16 _______________________________________________________________________ 2642. 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 12/00/06 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 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 _______________________________________________________________________ 2643. 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 [[Page 73748]] 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 03/00/07 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 Related RIN: Related to 1545-BF20 RIN: 1545-BF19 _______________________________________________________________________ 2644. DEBT SATISFIED BY A PARTNERSHIP INTEREST Priority: Substantive, Nonsignificant Legal Authority: 26 USC 108; 26 USC 704; 26 USC 752; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Proposed regulations to address partnership issues relating to the satisfaction of a debt with a partnership interest. 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-164370-05 Drafting attorney: Eric Lee (202) 622-3070 Reviewing attorney: Mary Beth Collins (202) 622-3070 CC: PSI Agency Contact: Eric B. Lee, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3070 RIN: 1545-BF27 _______________________________________________________________________ 2645. 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 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 _______________________________________________________________________ 2646. 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 01/00/07 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 _______________________________________________________________________ 2647. 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 12/00/06 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 [[Page 73749]] 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 _______________________________________________________________________ 2648. [bull] 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 _______________________________________________________________________ 2649. [bull] 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 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 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-161948-05 Drafting attorney: Jay M. Singer (202) 622-7530 Reviewing attorney: Filiz A. Serbes (202) 622-3703 CC: COR Agency Contact: Jay M. Singer, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7530 RIN: 1545-BF43 _______________________________________________________________________ 2650. [bull] 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 12/00/06 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 Related RIN: Related to 1545-BF48 RIN: 1545-BF47 _______________________________________________________________________ 2651. [bull] 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 _______________________________________________________________________ 2652. [bull] 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. [[Page 73750]] 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 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 _______________________________________________________________________ 2653. [bull] 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 7425; 26 USC 6343 CFR Citation: 26 CFR 6343-2; 26 CFR 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 12/00/06 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 Email: robin.m.ferguson@ irscounsel.treas.gov RIN: 1545-BF54 _______________________________________________________________________ 2654. [bull] 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) 622-8445 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 _______________________________________________________________________ 2655. [bull] 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 penalities 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 ________________________________________________________________________ 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 _______________________________________________________________________ 2656. [bull] 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 [[Page 73751]] 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 06/00/07 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 _______________________________________________________________________ 2657. [bull] 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's 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 _______________________________________________________________________ 2658. [bull] USER FEES FOR PROCESSING INSTALLMENT AGREEMENTS Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. Legal Authority: 31 USC 9701; OMB Circular A-25 CFR Citation: 26 CFR 300.1; 26 CFR 300.2 Legal Deadline: None Abstract: The proposed regulations relate to the user fees charged by the Service for installment agreements. The proposed regulations increase the amount of the user fees imposed under sections 300.1 and 300.2 for entering into and restructuring or reinstating installment agreements. The proposed regulations bring the fees in line with the actual costs to the Service. Currently, the Service charges $43 for entering into an installment agreement and $24 for restructuring or reinstating an installment agreement that is in default. The IRS recently completed a review of the installment agreement program and determined that the full cost of an installment agreement is $105, and the full cost of restructuring or reinstating an installment agreement is $45. The proposed regulations reflect these costs, with one exception, the fee for entering into an installment agreement paid by way of a direct debit from the taxpayer's checking account will be $52, to encourage this type of payment arrangement. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/06 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-148576-05 Drafting attorney: William Beard (202) 622-4173 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-BF69 _______________________________________________________________________ 2659. [bull] APPLYING SECTION 1(H) TO CAPITAL GAIN DIVIDENDS OF RIC 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 [[Page 73752]] 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 _______________________________________________________________________ 2660. [bull] 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 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 12/00/06 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, CC: TEGE: EB: QP1, Washington, DC 20224 Phone: 202 622-6090 Fax: 202 927-1851 Email: christopher.a.crouch@ irscounsel.treas.gov RIN: 1545-BF74 _______________________________________________________________________ 2661. [bull] 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 12/00/06 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: Andrew Froberg (202) 622-1779 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 _______________________________________________________________________ 2662. [bull] 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 12/00/06 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: Andrew Froberg (202) 622-1779 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 _______________________________________________________________________ 2663. [bull] 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 12/00/06 Regulatory Flexibility Analysis Required: No Government Levels Affected: Undetermined Federalism: Undetermined Additional Information: REG-125599-06 [[Page 73753]] Drafting Attorney: Margaret K. Harris (202) 622-3870 Reviewing Attorney: Paul S. Epstein (202) 622-3870 Treasury Attorney: Andrew Froberg (202) 622-1779 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 _______________________________________________________________________ 2664. [bull] 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 12/00/06 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 _______________________________________________________________________ 2665. [bull] GUIDANCE UNDER SECTION 67 REGARDING MISCELLANEOUS ITEMIZED DEDUCTIONS OF A TRUST OR ESTATE Priority: Substantive, Nonsignificant Legal Authority: 26 USC 67 CFR Citation: Not Yet Determined Legal Deadline: None Abstract: The guidance will address the application of IRC section 67 to the 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: Bradford Poston (202) 622-3060 Reviewing attorney: John T. Hines (202) 622-3060 CC: PSI: 2 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: 703 605-1905 Email: bradford.r.poston@ irscounsel.treas.gov RIN: 1545-BF80 _______________________________________________________________________ 2666. [bull] 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 1.104-1(c) CFR Citation: 26 CFR Part 1 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 07/00/07 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 _______________________________________________________________________ 2667. [bull] GUIDANCE REGARDING SCOPE OF SECTION 368(A)(1)(D) 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 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 12/00/06 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 [[Page 73754]] 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 _______________________________________________________________________ 2668. [bull] TREATMENT OF PAYMENTS IN LIEU OF TAXES Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1.141-4(e)(5) Legal Deadline: None Abstract: The notice of proposed rulemaking provides that the Internal Revenue Service and the Department of Treasury propose to modify the standards for treating payments in lieu of taxes as generally applicable taxes for purposes of the private security or payment test under section 141. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/06 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-136806-06 Drafting attorneys: Vassiliki Tsilas (202) 622-3353 and Carla Young (202) 622-3419 Reviewing attorney: Rebecca Harrigal (202) 622-3449 Treasury attorney: John Cross (202) 622-1322 CC: TEGE: TEB Agency Contact: Vassiliki Tsilas, Assistant Branch Chief, TEGE: TEB, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3353 Carla A. Young, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-3419 RIN: 1545-BF87 _______________________________________________________________________ 2669. [bull] 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 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-140206-06 Drafting attorney: Kathryn T. Holman (202) 622-3840 Reviewing attorney: Valerie A. Mark-Lippe (202) 622-3840 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 _______________________________________________________________________ 2670. [bull] 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 12/00/06 Regulatory Flexibility Analysis Required: Undetermined 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-BE95 RIN: 1545-BF94 _______________________________________________________________________ 2671. [bull] 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 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-138367-06 Drafting attorney: Matthew Cooper (202) 622-4940 Reviewing attorney: Brinton Warren (202) 622-7800 Treasury attorney: Anita Soucy (202) 622-1766 CC: PA: APJP: B02 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 [[Page 73755]] _______________________________________________________________________ Department of the Treasury (TREAS) Final Rule Stage Internal Revenue Service (IRS) _______________________________________________________________________ 2672. 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 12/00/06 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 _______________________________________________________________________ 2673. 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 03/00/07 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 _______________________________________________________________________ 2674. 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 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-209059-89 (INTL-870-89) Drafting attorney: Theodore Setzer (202) 622-3870 Reviewing attorney: Jeffrey L. Dorfman (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-AO24 _______________________________________________________________________ 2675. 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 12/00/06 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 _______________________________________________________________________ 2676. 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 [[Page 73756]] 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 _______________________________________________________________________ 2677. 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 04/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-104924-98 Drafting attorney: Stephen J. Coleman (202) 622-6289 Reviewing attorney: Elizabeth Handler (202) 622-3920 CC:FI Agency Contact: Stephen J. Coleman, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6289 RIN: 1545-AW06 _______________________________________________________________________ 2678. 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 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-106031-98 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-AW13 _______________________________________________________________________ 2679. 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 12/00/06 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 _______________________________________________________________________ 2680. SOURCE OF INCOME FROM CERTAIN SPACE AND OCEAN ACTIVITIES AND FOR COMMUNICATIONS INCOME Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 863 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulations provide source rules for income from certain space and ocean activities under section 863(d) and communications income under section 863(a), (d), and (e). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/17/01 66 FR 3903 Hearing 03/01/01 66 FR 12916 Second NPRM 09/19/05 70 FR 54859 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-106030-98 Drafting attorney: H. Michael Huynh (202) 435-5265 Reviewing attorney: Anne Shelburne (202) 435-5265 Treasury attorney: Gretchen Sierra (202) 622-1755 [[Page 73757]] CC:INTL Agency Contact: H. Michael Huynh, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 435-5265 RIN: 1545-AW50 _______________________________________________________________________ 2681. 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 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 _______________________________________________________________________ 2682. AUTHORIZED PLACEMENT AGENCY Priority: Substantive, Nonsignificant Legal Authority: 26 USC 152 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation amends the definition of ``authorized placement agency'' (for purposes of determining whether a child placed for legal adoption in a taxpayer's home is a dependent of the taxpayer) to include biological parents and other persons authorized by State law to place children for legal adoption. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 11/30/00 65 FR 71277 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-107279-00 Drafting attorney: Victoria Driscoll (202) 622-4920 Reviewing attorney: Donna J. Welch (202) 622-4920 Treasury attorney: Eric San Juan (202) 622-0224 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-AY18 _______________________________________________________________________ 2683. 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 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 _______________________________________________________________________ 2684. HIPAA GENERAL NONDISCRIMINATION Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 9833 CFR Citation: 26 CFR 54 Legal Deadline: None Abstract: These regulations provide guidance regarding the requirements imposed on group health plans not to discriminate in rules for eligibility under the plan on the basis of any health factor, and not to require any individual to pay a higher premium or contribution for coverage under the plan than any similarly situated individual based on any health factor. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/08/01 66 FR 1435 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-114082-00 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 [[Page 73758]] Phone: 202 622-6080 RIN: 1545-AY32 _______________________________________________________________________ 2685. HIPAA NONDISCRIMINATION EXCEPTION FOR CHURCH PLANS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 7853 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These regulations provide guidance on the exception for certain grandfathered church plans from the general rule requiring group health plans not to discriminate in rules for eligibility on the basis of any health factor. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/10/01 66 FR 1437 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-114083-00 Drafting attorney: Russell Weinheimer (202) 622-6080 Reviewing attorney: Alan Tawnshunsky (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 RIN: 1545-AY33 _______________________________________________________________________ 2686. HIPAA NONDISCRIMINATION EXCEPTION FOR BONA FIDE WELLNESS PROGRAMS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 9833 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These regulations provide guidance regarding the exception for certain wellness programs to the general rule imposed on group health plans not to require a higher premium or contribution from an individual than from a similarly situated individual based on any health factor. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/08/01 66 FR 1421 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-114084-00 Drafting attorney: Russell Weinheimer (202) 622-6080 Reviewing attorney: Alan Tawnshunsky (202) 622-6080 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 RIN: 1545-AY34 _______________________________________________________________________ 2687. 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 12/00/06 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 _______________________________________________________________________ 2688. 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 Hearing 04/09/03 Final Action 12/00/06 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 [[Page 73759]] _______________________________________________________________________ 2689. 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 12/00/06 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: Michael Desmond (202) 622-1981 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 _______________________________________________________________________ 2690. AMENDMENT TO THE DEFINITION OF REFUNDING Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation will amend the definition of a refunding issue applicable to tax-exempt bonds issued by State and local governments. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/10/02 67 FR 17309 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Local, State Additional Information: REG-165706-01 Drafting attorney: Vicky Tsilas (202) 622-3980 Reviewing attorney: Timothy L. Jones (202) 622-3701 Treasury attorney: John Cross (202) 622-1322 CC: TEGE: TEB Agency Contact: Vassiliki Tsilas, Assistant Branch Chief, TEGE: TEB, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3353 RIN: 1545-BA46 _______________________________________________________________________ 2691. 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 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-103580-02 Drafting attorneys: Joy Spies and Donnell Rini-Swyers (202) 622-3050 Reviewing attorney: Audrey W. Ellis (202) 622-3050 CC: PSI Agency Contact: Joy Spies, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3050 Donnell M. Rini-Swyers, Attorney, Department of the Treasury, Internal Revenue Service, 1111 Constitution Ave NW, Washington, DC 20224 Phone: 202 622-3050 RIN: 1545-BA53 _______________________________________________________________________ 2692. CIRCULAR 230--PHASE 2 NONSHELTER REVISIONS Priority: Substantive, Nonsignificant Legal Authority: 31 USC 330 CFR Citation: 26 CFR 1 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 NPRM 02/08/06 71 FR 6421 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-122380-02 Drafting attorney: Matthew 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 [[Page 73760]] Email: matthew.s.cooper@ irscounsel.treas.gov RIN: 1545-BA72 _______________________________________________________________________ 2693. 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 03/00/07 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 _______________________________________________________________________ 2694. ALLOCATION OF FOREIGN TAX CREDITS AMONG PARTNERS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 704(b); 26 USC 703(b)(3); 26 USC 702(a)(b); 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulation will provide guidance on how foreign tax expenditures must be allocated to partners under section 704(b). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/21/04 69 FR 21454 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-139792-02 Drafting attorney: Timothy J. Leska (202) 622-3050 Reviewing attorney: Beverly M. Katz (202) 622-3060 Treasury attorney: Bill Bowers CC: PSI Agency Contact: Timothy J. Leska, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3050 Related RIN: Related to 1545-BD70 RIN: 1545-BB11 _______________________________________________________________________ 2695. 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 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Federalism: Undetermined 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 _______________________________________________________________________ 2696. 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 [[Page 73761]] _______________________________________________________________________ 2697. 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. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 11/16/04 69 FR 67075 Hearing 11/16/04 69 FR 67084 Final Action 12/00/06 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 _______________________________________________________________________ 2698. 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: Kathleen Sleeth (202) 622-3920 Reviewing attorney: Elizabeth Handler (202) 622-3920 Treasury attorney: Viva Hammer (202) 622-0869 CC:FI Agency Contact: Kathleen Sleeth, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3920 RIN: 1545-BB82 _______________________________________________________________________ 2699. 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 12/00/06 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-159929-02 Drafting attorney: Arturo Estrada (202) 622-3900 Treasury attorneys: Andrew Froberg (202) 622-1779 and 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 _______________________________________________________________________ 2700. 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 12/00/06 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 [[Page 73762]] 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 _______________________________________________________________________ 2701. DEPENDENT CARE CREDIT Priority: Substantive, Nonsignificant Unfunded Mandates: Undetermined Legal Authority: 26 USC 21; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The notice of proposed rulemaking will amend existing but partially obsolete regulations under 26 U.S.C. 21 relating to dependent care credits. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/24/06 71 FR 29847 Final Action 10/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-139059-02 Drafting attorney: Sara P. Shepherd (202) 622-4960 Reviewing attorney: William A. Jackson (202) 622-4960 CC:ITA Agency Contact: Sara P. Shepherd, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 4231, Washington, DC 20224 Phone: 202 622-4960 RIN: 1545-BB86 _______________________________________________________________________ 2702. 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 12/00/06 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 attorneys: Michael Novey (202) 622-1339 and Viva Hammer (202) 622-0869 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 _______________________________________________________________________ 2703. 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 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-105346-03 Drafting attorneys: Joy Spies and Jason T. Smyzcek (202) 622-3050 Reviewing attorney: Audrey W. Ellis (202) 622-3050 Treasury attorney: Matthew Lay (202) 622-1788 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 Joy Spies, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3050 RIN: 1545-BB92 _______________________________________________________________________ 2704. ACCRUAL FOR CERTAIN REMIC REGULAR INTERESTS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 [[Page 73763]] 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 White (202) 622-3930 Reviewing attorney: Dale Collinson (202) 622-3900 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 _______________________________________________________________________ 2705. MISCELLANEOUS CHANGES TO COLLECTION DUE PROCESS PROCEDURES RELATING TO NOTICE AND OPPORTUNITY FOR HEARING UPON FILING OF NOTICE OF LIEN Priority: Other Significant Legal Authority: 26 USC 6320; 26 USC 6330; 26 USC 7805 CFR Citation: 26 CFR 301 Legal Deadline: None Abstract: IRS is revising the regulations that apply to Collection Due Process (CDP) and equivalent hearings under section 6320 involving Federal tax liens. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/16/05 70 FR 54681 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-150088-02 Drafting attorney: Laurence K. Williams (202) 622-3600 Reviewing attorney: Gary D. Gray (202) 622-3600 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 Related RIN: Related to 1545-BB97 RIN: 1545-BB96 _______________________________________________________________________ 2706. MISCELLANEOUS CHANGES TO COLLECTION DUE PROCESS PROCEDURES RELATING TO HEARINGS BEFORE LEVY Priority: Other Significant Legal Authority: 26 USC 6330; 26 USC 7805 CFR Citation: 26 CFR 301 Legal Deadline: None Abstract: IRS is revising the regulations that apply to Collection Due Process (CDP) and equivalent hearings under section 6330 involving Federal tax levies. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/16/05 70 FR 54687 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-150091-02 Drafting attorney: Laurence K. Williams (202) 622-3600 Reviewing attorney: Gary D. Gray (202) 622-3610 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 Related RIN: Related to 1545-BB96 RIN: 1545-BB97 _______________________________________________________________________ 2707. 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 Boland (202) 622-3130 and Curt 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 _______________________________________________________________________ 2708. GUIDANCE NECESSARY TO FACILITATE BUSINESS ELECTRONIC FILING Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1; 26 CFR 602 Legal Deadline: None Abstract: The regulatory amendments are designed to facilitate electronic filing of certain income tax returns and other forms. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/19/03 68 FR 70747 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Federal Additional Information: REG-116664-01 Drafting attorney: Nathan B. Rosen (202) 622-4910 Reviewing attorney: Pamela Fuller (202) 622-4910 Treasury attorney: Michael Desmond (202) 622-1981 [[Page 73764]] CC:PA:APJ Agency Contact: Nathan B. Rosen, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4910 RIN: 1545-BC15 _______________________________________________________________________ 2709. CHANGES IN COMPUTING DEPRECIATION Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation provides guidance under section 446(e) regarding changes in computing depreciation or amortization. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/02/04 69 FR 42 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-126459-03 Drafting attorney: Douglas Kim (202) 622-3110 Reviewing attorney: Kathleen Reed (202) 622-3110 Treasury attorney: Dennis Tingey (202) 622-1335 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-BC17 RIN: 1545-BC18 _______________________________________________________________________ 2710. 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 12/00/06 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 _______________________________________________________________________ 2711. 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: Dale S. Collinson ( 202) 622-3900 Treasury attorneys: Michael Novey (202) 622-1339 and Viva Hammer (202) 622-0869 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 _______________________________________________________________________ 2712. PROHIBITED ALLOCATION OF SECURITIES IN AN S CORPORATION Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 409(p)(7)(A) CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: The regulation will provide guidance for employee stock ownership plans holding stock of a subchapter S corporation concerning the prohibition against allocations to disqualified persons under section 409(p). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/21/03 68 FR 43058 NPRM Comment Period End 10/20/03 [[Page 73765]] Second NPRM 12/17/04 69 FR 75492 Second NPRM Comment Period End 03/17/05 Hearing 04/20/05 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-129709-03 Drafting attorney: John T. Ricotta (202) 622-6060 Reviewing attorney: Marjorie Hoffman (202) 622-6060 CC: TEGE Agency Contact: John T. Ricotta, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6060 Related RIN: Related to 1545-BC33 RIN: 1545-BC34 _______________________________________________________________________ 2713. 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 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-133446-03 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 Related RIN: Related to 1545-BD33 RIN: 1545-BC37 _______________________________________________________________________ 2714. 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 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-145987-03 Drafting attorney: Mayer R. Samuels (202) 622-7265 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 _______________________________________________________________________ 2715. 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 would be revised to clarify the parameters of stewardship expenses, thereby demarcating them from shareholder activities under section 482 and supportive expenses under section 1.861-8T(b)(3). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/04/06 71 FR 44247 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 _______________________________________________________________________ 2716. 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 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. [[Page 73766]] Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 03/26/04 69 FR 15747 Public Hearing 07/21/04 Final Action 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) 622-3721 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: 202 622-3721 RIN: 1545-BC61 _______________________________________________________________________ 2717. 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 06/00/07 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 _______________________________________________________________________ 2718. 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 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: Undetermined Additional Information: REG-150562-03 Drafting attorneys: Charlotte Chyr (202) 622-3070 and Jian Grant (202) 622-3050 Reviewing attorneys: James Quinn (202) 622-3070 and Mary Beth Collins (202) 622-3070 Treasury attorney: William Bowers (202) 622-5721 CC:PSI Agency Contact: Charlotte Chyr, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC 20224 Phone: 202 622-3070 Fax: 202 622-4804 Email: charlotte.chyr@ irscounsel.treas.gov Jian Grant, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3050 RIN: 1545-BC67 _______________________________________________________________________ 2719. 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 03/00/07 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: Anita Soucy (202) 622-1766 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 _______________________________________________________________________ 2720. 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 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No [[Page 73767]] 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 _______________________________________________________________________ 2721. 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 Regulation 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: Anita Soucy (202) 622-1766 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 _______________________________________________________________________ 2722. DUAL CONSOLIDATED LOSS REGULATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 1503 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation provides additional guidance with respect to dual consolidated losses under section 1503(d). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/24/05 70 FR 29868 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-102144-04 Drafting attorney: Christopher L. Trump (202) 622-3840 Reviewing attorney: John Merrick (202) 622-3800 Treasury attorney: David Sotos (202) 622-0851 CC:INTL Agency Contact: Christopher L. Trump, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3840 RIN: 1545-BD10 _______________________________________________________________________ 2723. 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 03/00/07 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 _______________________________________________________________________ 2724. UNDERPAYMENT FOR QUALIFIED AMENDED RETURNS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None [[Page 73768]] Abstract: These regulations will revise the definition of ``qualified amended return'' in accordance with Notice 2004-38. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 03/02/05 70 FR 10062 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Federalism: Undetermined Additional Information: REG-122847-04 Drafting attorney: Laura Urich (202) 622-7022 Reviewing attorney: Ashton P. Trice (202) 622-4940 Treasury attorney: Michael 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-BD40 _______________________________________________________________________ 2725. UPDATE OF 415 REGULATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These regulations amend the regulations under section 415 of the Internal Revenue Code relating to limitations on benefits and contributions under qualified plans. Section 415 provides a complex series of limits on benefits under defined benefit plans and contributions and other additions under defined contribution plans. Comprehensive regulations regarding section 415 were last issued in 1980. These regulations are being proposed to reflect statutory changes and guidance items and to clarify certain other issues. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/31/05 70 FR 31214 Public Hearing 08/17/05 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-130241-04 Drafting attorney: Vernon Carter (202) 622-6060 and Christopher Crouch (202) 622-6090 Reviewing attorney: Linda Marshall (202) 622-6090 Treasury attorney: Harlan Weller (202) 622-1001 CC:TEGE Agency Contact: Vernon S. Carter, Tax Law Specialist, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-6060 Christopher A. Crouch, Attorney Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, CC: TEGE: EB: QP1, Washington, DC 20224 Phone: 202 622-6090 Fax: 202 927-1851 Email: christopher.a.crouch@ irscounsel.treas.gov RIN: 1545-BD52 _______________________________________________________________________ 2726. GUIDANCE UNDER SECTION 1502; MISCELLANEOUS OPERATING RULES FOR SUCCESSOR PERSONS; APPLICABILITY OF SECTION 381 Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 1502 CFR Citation: 26 CFR 1 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 _______________________________________________________________________ 2727. 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 12/00/06 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 [[Page 73769]] _______________________________________________________________________ 2728. 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 12/00/06 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-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4910 RIN: 1545-BD65 _______________________________________________________________________ 2729. USE OF ELECTRONIC TECHNOLOGIES FOR PROVIDING NOTICES AND TRANSMITTING ELECTIONS AND CONSENTS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 401; PL 106-229, sec 104 CFR Citation: 26 CFR 1; 26 CFR 35; 26 CFR 54 Legal Deadline: None Abstract: The proposed regulations provide guidance on the permitted use of electronic media to provide certain notices to recipients or to transmit participant and beneficiary elections or consents with respect to employee benefit plans. In general, the proposed regulations would affect plan sponsors of and participants and beneficiaries in employee benefit plans. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/14/05 70 FR 40675 Hearing 11/02/05 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-138362-04 Drafting attorney: Pamela R. Kinard (202) 622-6060 Reviewing attorney: Lisa Mojri-Azad (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-BD68 _______________________________________________________________________ 2730. 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, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3050 Related RIN: Related to 1545-BB11 RIN: 1545-BD70 _______________________________________________________________________ 2731. 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 Karet (202) 622-3130 and Curt Wilson (202) 622-3000 Treasury attorney: John Parcell (202) 622-2578 CC:PSI Agency Contact: Deborah Karet, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3130 RIN: 1545-BE04 [[Page 73770]] _______________________________________________________________________ 2732. 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 regulated investment company (RIC). A 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 02/00/07 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 _______________________________________________________________________ 2733. 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 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-159824-04 Drafting attorney: Matthew 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 _______________________________________________________________________ 2734. CAPITALIZATION OF AMOUNTS PAID TO REPAIR OR IMPROVE TANGIBLE PROPERTY 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 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: Kimberly L. Koch (202) 622-7739 Reviewing attorney: Robert M. Casey (202) 622-4950 Treasury attorney: Sharon Kay (202) 622-0865 CC:ITA Agency Contact: Kimberly L. Koch, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-7739 Fax: 202 622-7241 RIN: 1545-BE18 _______________________________________________________________________ 2735. 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 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: Margaret A. Owens (202) 622-0047 Reviewing attorney: Janine Cook (202) 622-0047 Treasury attorney: Kevin Knopf (202) 622-2329 CC: TEGE Agency Contact: Margaret A. Owens, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 [[Page 73771]] Phone: 202 622-0047 Related RIN: Related to 1545-BE21 RIN: 1545-BE20 _______________________________________________________________________ 2736. 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 Final Action 12/00/06 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 _______________________________________________________________________ 2737. 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. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Temporary Regulation 12/00/06 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-161695-04 Drafting attorney: Amy J. Pfalzgraf (202) 622-4950 Treasury attorney: John Parcell (202) 622-2578 CC: ITA Agency Contact: Amy J. Pfalzgraf, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4950 Related RIN: Related to 1545-BE23 RIN: 1545-BE39 _______________________________________________________________________ 2738. 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 Final Action 12/00/06 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 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 _______________________________________________________________________ 2739. REGULATIONS UNDER SECTION 263A REGARDING USE OF SIMPLIFIED SERVICE COST METHOD AND SIMPLIFIED PRODUCTION METHOD Priority: Substantive, Nonsignificant Legal Authority: 26 USC 263A; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Application of simplified service cost method and simplified production method to self-constructed assets. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/03/05 70 FR 44535 Final Action 12/00/06 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-121584-05 Drafting attorney: Scott H. Rabinowitz (202) 622-4970 CC:ITA Agency Contact: Scott H. Rabinowitz, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-4970 Related RIN: Related to 1545-BE61 RIN: 1545-BE57 _______________________________________________________________________ 2740. 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 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None [[Page 73772]] 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 _______________________________________________________________________ 2741. DEFERRED COMPENSATION (PROPOSED) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 409 A CFR Citation: Not Yet Determined Legal Deadline: None Abstract: Proposed regulations that reflect the enactment of section 885 of the American Jobs Creation Act of 2004. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 10/04/05 70 FR 57930 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-158080-04 Drafting attorney: Stephen Tackney (202) 622-6030 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-BE79 _______________________________________________________________________ 2742. REMIC RESIDUALS--FOREIGN HOLDERS (TEMPORARY) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These temporary regulations 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 ________________________________________________________________________ Final and Temporary Rules 08/01/06 71 FR 43363 Final Action 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-159929-02 Drafting attorney: Arturo Estrada (202) 622-3900 Treasury attorney: Andrew Froberg (202) 622-1779 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-BE81 _______________________________________________________________________ 2743. 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 Final Action 01/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None 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 _______________________________________________________________________ 2744. 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 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No [[Page 73773]] 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 _______________________________________________________________________ 2745. 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 12/00/06 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 _______________________________________________________________________ 2746. 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 07/00/07 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 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 _______________________________________________________________________ 2747. 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 12/00/06 Regulatory Flexibility Analysis Required: No Government Levels Affected: Undetermined Additional Information: REG-146459-05 Drafting attorney: Linda L. Conway (202) 622-6090 Reviewing attorney: Cathy Vohs (202) 622-6090 and Lisa Mohiri-Azad (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: 202 622-6090 Related RIN: Related to 1545-BF05 RIN: 1545-BF04 _______________________________________________________________________ 2748. 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 12/00/06 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 [[Page 73774]] 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 _______________________________________________________________________ 2749. 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 12/00/06 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 _______________________________________________________________________ 2750. 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 12/00/06 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 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 _______________________________________________________________________ 2751. 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 04/00/07 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 _______________________________________________________________________ 2752. 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 03/00/07 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 [[Page 73775]] 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 Related RIN: Related to 1545-BF19 RIN: 1545-BF20 _______________________________________________________________________ 2753. 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 Miosi (202) 622-3050 Treasury attorney: Michael Novey (202) 622-1339 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 _______________________________________________________________________ 2754. REVISION OF REGULATIONS TO COMPLY WITH COMMISSIONER'S E-FILE PROGRAM Priority: Info./Admin./Other Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 301 Legal Deadline: None Abstract: The regulations will revise a number of regulations that present impediments to e-filing. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/30/06 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-161919-05 Drafting attorney: Grid R. Glyer (202) 622-7930 Reviewing attorneys: Theresa Abell (202) 622-7700, Marc Countryman (202) 622-7530, and 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: 202 622-7930 Related RIN: Related to 1545-BF26 RIN: 1545-BF25 _______________________________________________________________________ 2755. REVISION OF REGULATION TO COMPLY WITH THE COMMISSIONER'S E-FILE PROGRAM (TEMPORARY) Priority: Info./Admin./Other Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 301 Legal Deadline: None Abstract: The project will revise a number of regulations that present impediments to e-filing. It will also contain proposed regulations under section 1561. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-161919-05 Drafting attorney: Grid R. Glyer (202) 622-7930 Reviewing attorneys: Theresa Abell (202) 622-7700, and Marc Countryman (202) 622-7530, and 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: 202 622-7930 Related RIN: Previously reported as 1545-BF25 RIN: 1545-BF26 _______________________________________________________________________ 2756. CHARITABLE CONTRIBUTIONS OF QUALIFIED VEHICLES (TEMPORARY) 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: This temporary regulation will set forth temporary rules governing the charitable contribution deduction allowed for contribution of certain vehicles for which a value of more than $500 is claimed. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Temporary Regulations 12/00/06 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 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-BF10 RIN: 1545-BF29 [[Page 73776]] _______________________________________________________________________ 2757. 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 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: Governmental Jurisdictions, Organizations Government Levels Affected: Local, State Additional Information: REG-155608-02 Drafting attorney: John A. Tolleris (202) 622-6060 Reviewing attorney: Cheryl E. Press (202) 622-6060 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: Previously reported as 1545-BB64 RIN: 1545-BF35 _______________________________________________________________________ 2758. 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 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 _______________________________________________________________________ 2759. [bull] 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 03/00/07 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 _______________________________________________________________________ 2760. [bull] 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 [[Page 73777]] 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 _______________________________________________________________________ 2761. [bull] SECTION 1221(A)(4) CAPITAL ASSET EXCLUSION FOR ACCOUNTS AND NOTES RECEIVABLE 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 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 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: Undetermined 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, Financial Institutions and Products, Branch 1, Room 3539, Washington, DC 20224 Phone: 202 622-3920 RIN: 1545-BF52 _______________________________________________________________________ 2762. [bull] COMPUTER SOFTWARE UNDER SECTION 199(C)(5)(B) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 199; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Guidance regarding the deduction for income attributable to domestic production activities under Section 199 as applied to the production of computer software. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/01/06 71 FR 31128 NPRM Comment Period End 08/30/06 Final Rule 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-111578-06 Drafting attorney: Lauren Ross Taylor (202) 622-3040 Reviewing attorney: Paul F. Handleman (202) 622-3040 Treasury attorney: Dennis Tingey (202) 622-1335 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 Related RIN: Related to 1545-BE33 RIN: 1545-BF56 _______________________________________________________________________ 2763. [bull] 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) 622-8445 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 _______________________________________________________________________ 2764. [bull] 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 penalities 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 [[Page 73778]] 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 _______________________________________________________________________ 2765. [bull] 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 Legal Authority: 26 USC 871; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Clarifies that the ten percent shareholders test for portfolio interest is applied at the partner level, when interest is received by a partnership, and at the beneficiary of owner level, when interest is received by a simple or grantor trust. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 06/12/06 71 FR 34047 NPRM Comment Period End 08/14/06 Final Action 06/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Undetermined Additional Information: REG-118775-06 Drafting attorney: Jason Kleinman (202) 622-3840 CC: INTL Agency Contact: Jason Kleinman, Attorney Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3840 RIN: 1545-BF64 _______________________________________________________________________ 2766. [bull] 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's 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 _______________________________________________________________________ 2767. [bull] UNITED STATES DOLLAR APPROXIMATE SEPARATE TRANSACTIONS METHOD Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 989(c) CFR Citation: 26 CFR 1; 26 CFR 985-3 Legal Deadline: None Abstract: This regulation revises Treasury Regulation Section 1.985- 3(d). The regulation will provide the translation rates that must be used when translating into dollars certain items and amounts transferred by a qualified business unit to its home office or parent corporation for purposes of computing dollar approximate separate transactions method (DASTM) gain or loss. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/13/06 71 FR 39604 NPRM Comment Period End 10/11/06 Final Action 07/00/07 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-118897-06 Drafting attorney: Sheila N. Ramaswamy (202) 622-3870 Reviewing attorney: Jeffrey Dorfman (202) 622-3870 Treasury attorney: Andrew Froberg (202) 622-1779 CC:INTL Agency Contact: Sheila Ramaswamy, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3870 RIN: 1545-BF67 _______________________________________________________________________ 2768. [bull] REPORTING RULES FOR WIDELY HELD FIXED INVESTMENT TRUSTS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: These regulations will amend TD 9241 published in the Federal Register on January 24, 2006 providing reporting rules for widely held fixed investment trusts. [[Page 73779]] Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM by XREF to TEMP 08/03/06 71 FR 43998 NPRM Comment Period End 10/02/06 Final Action 01/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-125071-06 Drafting attorney: Faith Colson (202) 622-3060 Reviewing attorney: J. Thomas Hines (202) 622-3060 Treasury attorney: Viva Hammer (202) 622-0869 CC: PSI Agency Contact: Faith Colson, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3060 Related RIN: Related to 1545-BF86 RIN: 1545-BF75 _______________________________________________________________________ 2769. [bull] 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 _______________________________________________________________________ 2770. [bull] 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 12/00/06 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 _______________________________________________________________________ 2771. [bull] REPORTING RULES FOR WIDELY HELD FIXED INVESTMENT TRUSTS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 671 CFR Citation: 26 CFR 1.671-5 Legal Deadline: None Abstract: This regulation will amend TD 9241 published in the Federal Register on January 24, 2006 providing reporting rules for widely held fixed investment trusts. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule Completed by TD 9279 08/03/06 71 FR 43968 Interim Final Rule Comment Period End 10/02/06 Final Action 01/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-125071-06 Drafting attorney: Faith Colson (202) 622-3060 Reviewing attorney: J. Thomas Hines (202) 622-3060 Treasury attorney: Viva Hammer (202) 622-0869 CC: PSI Agency Contact: Faith Colson, Attorney-Advisor, Department of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Phone: 202 622-3060 Related RIN: Related to 1545-BF75 RIN: 1545-BF86 _______________________________________________________________________ 2772. [bull] TAX INCREASE PREVENTION AND RECONCILIATION ACT OF 2005 AMENDMENTS TO SECTION 199 Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 199 CFR Citation: 26 CFR 1.199-3T; 26 CFR 1.199-5T; 26 CFR 1.1997T; 26 CFR 1.1998T Legal Deadline: None Abstract: These temporary regulations provide guidance on the Tax Increase [[Page 73780]] Prevention and Reconciliation Act of 2005 amendments to Section 199. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 12/00/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Additional Information: REG-127819-06 Drafting attorney: Lauren Ross Taylor (202) 622-3040 Reviewing attorney: Paul F. 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 Related RIN: Related to 1545-BF79 RIN: 1545-BF88 _______________________________________________________________________ 2773. [bull] RULES UNDER SECTION 302 OF THE KATRINA EMERGENCY TAX RELIEF ACT OF 2005 Priority: Substantive, Nonsignificant Legal Authority: 5 USC 801 (PL 104-121); 26 USC 7805 CFR Citation: 26 CFR 1.9300-1 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 ________________________________________________________________________ Interim Final Rule 12/00/06 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Additional Information: REG-152043-05 Drafting attorney: Marnette Myers (202) 622-4920 Reviewing attorney: Michael 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 Avenue NW, Room 4241, Washington, DC 20224 Phone: 202 622-4920 Fax: 703 605-1753 Email: marnette.m.myers@ irscounsel.treas.gov Related RIN: Related to 1545-BF14 RIN: 1545-BF89 _______________________________________________________________________ 2774. [bull] 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 ________________________________________________________________________ Temporary Regulations 12/00/06 Regulatory Flexibility Analysis Required: Undetermined 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-BF94 RIN: 1545-BF95 _______________________________________________________________________ Department of the Treasury (TREAS) Long-Term Actions Internal Revenue Service (IRS) _______________________________________________________________________ 2775. 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 _______________________________________________________________________ 2776. FOREIGN CORPORATIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 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 Agency Contact: Thomas D. Beem Phone: 202 622-3860 RIN: 1545-AK74 _______________________________________________________________________ 2777. NONRECOGNITION OF CORPORATE DISTRIBUTIONS AND REORGANIZATIONS UNDER THE FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 [[Page 73781]] 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 Agency Contact: Margaret A. Hogan Phone: 202 622-3850 RIN: 1545-AK79 _______________________________________________________________________ 2778. INCOME OF FOREIGN GOVERNMENTS AND INTERNATIONAL ORGANIZATIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 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 _______________________________________________________________________ 2779. CLARIFICATION OF TREATMENT OF SEPARATE LIMITATION LOSSES Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Richard L. Chewning Phone: 202 622-3850 RIN: 1545-AM11 _______________________________________________________________________ 2780. COMPUTATION OF A BRANCH'S TAXABLE INCOME; TAXATION OF EXCHANGE GAIN OR LOSS ON BRANCH REMITTANCES Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 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 Agency Contact: Sheila Ramaswamy Phone: 202 622-3870 Theodore D. Setzer Phone: 202 622-3870 RIN: 1545-AM12 _______________________________________________________________________ 2781. EARNINGS AND PROFITS OF CONTROLLED FOREIGN CORPORATIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/25/90 55 FR 2535 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-AM90 _______________________________________________________________________ 2782. 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 _______________________________________________________________________ 2783. 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 _______________________________________________________________________ 2784. 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 _______________________________________________________________________ 2785. FOREIGN INSURANCE COMPANY--DOMESTIC ELECTION Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Valerie A. Mark-Lippe Phone: 202 622-3840 RIN: 1545-AO25 [[Page 73782]] _______________________________________________________________________ 2786. INFORMATION REPORTING AND RECORD MAINTENANCE Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Next Action Undetermined 12/00/07 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 _______________________________________________________________________ 2787. 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 _______________________________________________________________________ 2788. 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 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Karin Loverud Phone: 202 622-6080 RIN: 1545-AQ61 _______________________________________________________________________ 2789. THE TREATMENT OF ACCELERATED DEATH BENEFITS 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: Ann H. Logan Phone: 202 622-3970 RIN: 1545-AQ70 _______________________________________________________________________ 2790. MARK-TO-MARKET UPON DISPOSITION Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 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 Agency Contact: Lauren J. Medovoy Phone: 202 622-3920 Fax: 202 622-7970 Email: lauren.j.medovoy@ irscounsel.treas.gov RIN: 1545-AS85 _______________________________________________________________________ 2791. 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 RIN: 1545-AT82 _______________________________________________________________________ 2792. FOREIGN CORPORATIONS REGULATIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 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 _______________________________________________________________________ 2793. 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 _______________________________________________________________________ 2794. RECOMPUTATION OF LIFE INSURANCE RESERVES Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/02/97 62 FR 71 Final Action 01/00/08 [[Page 73783]] Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Linda Boyd Phone: 202 622-3970 RIN: 1545-AU49 _______________________________________________________________________ 2795. 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 12/00/07 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 _______________________________________________________________________ 2796. SUBSTANTIATING TRAVEL EXPENSE DEDUCTIONS FOR MEMBERS OF CONGRESS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1; 26 CFR 5 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: George B. Baker Phone: 202 622-4930 RIN: 1545-AV55 _______________________________________________________________________ 2797. DEFINITION OF ACCOUNTING METHOD Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Next Action Undetermined 12/00/07 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 _______________________________________________________________________ 2798. ALLOCATION AND APPORTIONMENT OF INTEREST EXPENSE AND CERTAIN OTHER EXPENSES Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 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 Agency Contact: David F. Bergkuist Phone: 202 622-3850 RIN: 1545-AX72 _______________________________________________________________________ 2799. MODIFICATION TO SECTION 367(A) STOCK TRANSFER REGULATIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1; 26 CFR 602 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 M. McCall Phone: 202 622-3860 RIN: 1545-AX77 _______________________________________________________________________ 2800. DEFINITION OF PASSIVE FOREIGN INVESTMENT COMPANY UNDER SECTION 1297 Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Ethan A. Atticks Phone: 202 622-3840 RIN: 1545-AX78 _______________________________________________________________________ 2801. CLARIFICATION OF FOREIGN BASE COMPANY SALES INCOME RULES Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Valerie A. Mark-Lippe Phone: 202 622-3840 RIN: 1545-AX91 _______________________________________________________________________ 2802. 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 _______________________________________________________________________ 2803. PREVIOUSLY TAXED EARNINGS AND PROFITS UNDER SUBPART F Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/29/06 71 FR 51155 NPRM Comment Period End 11/27/06 Final Action 12/00/07 [[Page 73784]] Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Jeffrey L. Vinnik Phone: 202 622-3840 RIN: 1545-AY54 _______________________________________________________________________ 2804. 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 _______________________________________________________________________ 2805. CONSOLIDATED RETURNS; NONAPPLICABILITY OF SECTION 357(C) Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 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 Agency Contact: Thomas I. Russell Phone: 202 622-7550 RIN: 1545-BA09 _______________________________________________________________________ 2806. GUIDANCE ON REPORTING OF DEPOSIT INTEREST PAID TO NONRESIDENT ALIENS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1; 26 CFR 31 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 Agency Contact: Ethan A. Atticks Phone: 202 622-3840 RIN: 1545-BA86 _______________________________________________________________________ 2807. GUIDANCE TO FACILITATE ELECTRONIC TAX ADMINISTRATION Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 301 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 Agency Contact: Dillon Taylor Phone: 202 622-4940 Fax: 202 622-1585 Email: dillon.j.taylor@ irscounsel.treas.gov RIN: 1545-BA96 _______________________________________________________________________ 2808. 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 12/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Amy Mielke Phone: 202 622-7371 RIN: 1545-BA99 _______________________________________________________________________ 2809. COMMUNICATIONS EXCISE TAX; TAXABLE COMMUNICATION SERVICES Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 49 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 07/02/04 69 FR 40345 ANPRM Comment Period End 09/30/04 Next Action Undetermined 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Taylor Cortright Phone: 202 622-3130 RIN: 1545-BB04 _______________________________________________________________________ 2810. 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 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Taylor Cortright Phone: 202 622-3130 RIN: 1545-BB18 _______________________________________________________________________ 2811. AMENDING THE LOW-INCOME HOUSING TAX CREDIT PROGRAM Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Jack Malgeri Phone: 202 622-3040 RIN: 1545-BB37 _______________________________________________________________________ 2812. AMENDMENT TO SECTION 6724 RELATING TO FAILURE TO FILE CORRECT INFORMATION RETURNS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 [[Page 73785]] 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 Agency Contact: William M. Kostak Phone: 202 622-4910 RIN: 1545-BB41 _______________________________________________________________________ 2813. 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 _______________________________________________________________________ 2814. 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 Gee Phone: 202 622-7876 Related RIN: Related to 1545-AR82 RIN: 1545-BC16 _______________________________________________________________________ 2815. 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 Hearing 03/08/06 Next Action Undetermined 12/00/07 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 _______________________________________________________________________ 2816. 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 _______________________________________________________________________ 2817. 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 Next Action Undetermined 12/00/07 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 _______________________________________________________________________ 2818. ACCUMULATED ADJUSTMENT ACCOUNT AND OTHER CORPORATE SEPARATIONS UNDER SECTION 355 Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Deane M. Burke Phone: 202 622-3070 RIN: 1545-BC98 _______________________________________________________________________ 2819. ESCROW ACCOUNTS, TRUSTS, AND OTHER FUNDS USED DURING DEFERRED EXCHANGES OF LIKE-KIND PROPERTY Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1; 26 CFR 602 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 02/07/06 71 FR 6231 Hearing 02/07/06 71 FR 6233 Final Action 12/00/07 Regulatory Flexibility Analysis Required: Yes Small Entities Affected: Businesses Government Levels Affected: None Agency Contact: A. Katharine Kiss Phone: 202 622-4930 Related RIN: Split from 1545-AR82 RIN: 1545-BD19 _______________________________________________________________________ 2820. GUIDANCE ON PHASED RETIREMENT Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 11/10/04 69 FR 65108 NPRM Comment Period End 02/08/05 Next Action Undetermined Regulatory Flexibility Analysis Required: No [[Page 73786]] Small Entities Affected: No Government Levels Affected: None Agency Contact: Cathy A. Vohs Phone: 202 622-6090 RIN: 1545-BD23 _______________________________________________________________________ 2821. TRANSFERS OF RESTRICTED STOCK Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 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-BD45 RIN: 1545-BD44 _______________________________________________________________________ 2822. TRANSFERS OF RESTRICTED STOCK (TEMPORARY) Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Temporary Regulations 12/00/07 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 _______________________________________________________________________ 2823. HIPAA PORTABILITY: SPECIAL ENROLLMENT PROCEDURES, TOLLING, AND INTERACTION WITH FMLA Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 54 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/30/04 69 FR 78800 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Russell Weinheimer Phone: 202 622-6080 Related RIN: Related to 1545-AW02, Related to 1545-AX84 RIN: 1545-BD51 _______________________________________________________________________ 2824. SPECIAL RULES TO REDUCE SECTION 1446 WITHHOLDING Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/18/05 70 FR 28743 Hearing 10/03/05 70 FR 57523 Final Action 12/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Ronald M. Gootzeit Phone: 202 622-3860 Related RIN: Related to 1545-AY28 RIN: 1545-BD80 _______________________________________________________________________ 2825. 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. CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Angella L. Warren Phone: 202 622-4950 RIN: 1545-BD82 _______________________________________________________________________ 2826. 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 Next Action Undetermined Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Matthew P. Howard Phone: 202 622-4910 RIN: 1545-BD92 _______________________________________________________________________ 2827. 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 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 _______________________________________________________________________ 2828. 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 [[Page 73787]] _______________________________________________________________________ 2829. 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 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Temporary Regulation 07/06/06 71 FR 38262 Next Action Undetermined 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 _______________________________________________________________________ 2830. 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: 202 622-7950 RIN: 1545-BE07 _______________________________________________________________________ 2831. DISCLOSURE OF RETURN INFORMATION TO THE BUREAU OF THE CENSUS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 301 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 Agency Contact: Charles B. Christopher Phone: 202 622-4580 Charles B. Christopher Phone: 202 622-4580 Related RIN: Related to 1545-BC93, Related to 1545-BE02, Related to 1545-BE01 RIN: 1545-BE08 _______________________________________________________________________ 2832. 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 _______________________________________________________________________ 2833. INFORMATION RETURNS REQUIRED WITH RESPECT TO CERTAIN FOREIGN CORPORATIONS AND OTHER CONFORMING CHANGES Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. CFR Citation: 26 CFR 1 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 Agency Contact: Kate Y. Hwa Phone: 202 622-3840 RIN: 1545-BE47 _______________________________________________________________________ 2834. 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: Allen David Madison Phone: 202 622-4940 Fax: 202 622-1585 Email: allen.d.madison@ irscounsel.treas.gov Related RIN: Related to 1545-BE63 RIN: 1545-BE62 _______________________________________________________________________ 2835. CONVERTING AN IRA ANNUITY TO A ROTH IRA Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. CFR Citation: Not Yet Determined Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 08/22/05 70 FR 48924 Next Action Undetermined Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Cathy A. Vohs Phone: 202 622-6090 Related RIN: Related to 1545-BE66 RIN: 1545-BE65 _______________________________________________________________________ 2836. ABANDONMENT OF STOCK AND OTHER SECURITIES Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is undetermined. CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Sean Dwyer Phone: 202 622-5020 RIN: 1545-BE80 _______________________________________________________________________ 2837. FOREIGN CURRENCY CONTRACT DEFINED Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: No [[Page 73788]] Small Entities Affected: No Government Levels Affected: None Agency Contact: Stephen J. Coleman Phone: 202 622-6289 Related RIN: Related to 1545-BE83 RIN: 1545-BE82 _______________________________________________________________________ 2838. 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: Stephen J. Coleman Phone: 202 622-6289 Related RIN: Related to 1545-BE82 RIN: 1545-BE83 _______________________________________________________________________ 2839. LIFE/NON-LIFE TACKING RULE Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 04/25/06 71 FR 23882 TEMP 04/25/06 71 FR 23856 Next Action Undetermined Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Ross E. Poulsen Phone: 202 622-7770 RIN: 1545-BE85 _______________________________________________________________________ 2840. 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 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 _______________________________________________________________________ 2841. 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 Timetable: Next Action Undetermined Regulatory Flexibility Analysis Required: Undetermined Small Entities Affected: Businesses Government Levels Affected: None Agency Contact: Winston H. Douglas Phone: 202 622-3110 Related RIN: Related to 1545-BC27, Related to 1545-AX95 RIN: 1545-BF37 _______________________________________________________________________ 2842. FAILURE TO MAINTAIN LIST OF ADVISEES WITH RESPECT TO REPORTABLE TRANSACTIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 301.6708-1T Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 12/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Allen David Madison Phone: 202 622-4940 Fax: 202 622-1585 Email: allen.d.madison@ irscounsel.treas.gov RIN: 1545-BF38 _______________________________________________________________________ 2843. FAILURE TO MAINTAIN LIST OF ADVISEES WITH RESPECT TO REPORTABLE TRANSACTIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 301.6708-1 Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/00/07 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Allen David Madison Phone: 202 622-4940 Fax: 202 622-1585 Email: allen.d.madison@ irscounsel.treas.gov RIN: 1545-BF39 _______________________________________________________________________ 2844. [bull] 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 12/00/07 Regulatory Flexibility Analysis Required: No 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 _______________________________________________________________________ 2845. [bull] DETERMINATION OF INTEREST EXPENSE DEDUCTION OF FOREIGN CORPORATIONS Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 882 [[Page 73789]] 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: Andrew Froberg (202) 622-1779 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 _______________________________________________________________________ 2846. [bull] 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: Next Action Undetermined 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 _______________________________________________________________________ 2847. [bull] 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 1.883-3; 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 _______________________________________________________________________ Department of the Treasury (TREAS) Completed Actions Internal Revenue Service (IRS) _______________________________________________________________________ 2848. REPORTING OF PAYMENTS TO ATTORNEYS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9270 07/13/06 71 FR 39548 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nancy L. Rose Phone: 202 622-4910 RIN: 1545-AW72 _______________________________________________________________________ 2849. STOCK TRANSFER RULES--CARRYOVER OF EARNINGS AND TAXES Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9273 08/08/06 71 FR 44887 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Jeffrey L. Parry Phone: 202 622-3850 RIN: 1545-AX65 [[Page 73790]] _______________________________________________________________________ 2850. ALLOCATION OF INCOME AND DEDUCTIONS FROM INTANGIBLES Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9278 08/04/06 71 FR 44466 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Thomas A. Vidano Phone: 202 435-5265 Related RIN: Related to 1545-BC52, Related to 1545-BB31 RIN: 1545-AY38 _______________________________________________________________________ 2851. ELECTION--ASSET ACQUISITIONS OF INSURANCE COMPANIES Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9257 04/10/06 71 FR 17990 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Mark Weiss Phone: 202 622-7790 Related RIN: Related to 1545-BF02 RIN: 1545-AY49 _______________________________________________________________________ 2852. TRANSITIONAL RELIEF FOR QUALIFIED INTERMEDIARIES Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9253 03/14/06 71 FR 13003 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Ethan A. Atticks Phone: 202 622-3840 RIN: 1545-AY92 _______________________________________________________________________ 2853. REDEMPTIONS TREATED AS DIVIDENDS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Withdrawn 04/19/06 71 FR 20044 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Theresa M. Kolish Phone: 202 622-7530 Fax: 202 622-7556 Email: theresa.m.kolish@ irscounsel.treas.gov RIN: 1545-BA80 _______________________________________________________________________ 2854. INVESTIGATIVE DISCLOSURES Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 301 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9274 07/11/06 71 FR 38985 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: Federal Agency Contact: Helene R. Newsome Phone: 202 622-4570 Related RIN: Related to 1545-BB17 RIN: 1545-BB16 _______________________________________________________________________ 2855. LIMITATION ON USE OF NONACCRUAL EXPERIENCE METHOD OF ACCOUNTING Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9285 09/06/06 71 FR 52430 Regulatory Flexibility Analysis Required: No Small Entities Affected: Businesses Government Levels Affected: None Agency Contact: Thomas McElroy Phone: 202 622-4970 RIN: 1545-BB43 _______________________________________________________________________ 2856. SPECIAL DEPRECIATION ALLOWANCE Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action 08/31/06 71 FR 51727 Final Action Effective 08/31/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Douglas Kim Phone: 202 622-3110 Related RIN: Related to 1545-BC19 RIN: 1545-BB57 _______________________________________________________________________ 2857. COLLECTION AFTER ASSESSMENT Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9284 09/06/06 71 FR 52444 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Debra A. Kohn Phone: 202 622-7985 Email: debra.akohn@ irscounsel.treas.gov RIN: 1545-BC72 _______________________________________________________________________ 2858. EXCLUSION OF EMPLOYEES OF 501(C)(3) ORGANIZATIONS IN 401(K) AND 401(M) PLANS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9275 07/21/06 71 FR 41357 Regulatory Flexibility Analysis Required: No [[Page 73791]] Small Entities Affected: No Government Levels Affected: None Agency Contact: Lisa Mojiri-Azad Phone: 202 622-6060 RIN: 1545-BC87 _______________________________________________________________________ 2859. ATTAINED AGE OF THE INSURED Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9287 09/13/06 71 FR 53967 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Ann H. Logan Phone: 202 622-3970 RIN: 1545-BD00 _______________________________________________________________________ 2860. REQUIREMENTS FOR REORGANIZATIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9182 02/25/05 70 FR 9219 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Douglas C. Bates Phone: 202 622-7550 Fax: 202 622-4111 Email: douglas.c.bates@ irscounsel.treas.gov Related RIN: Related to 1545-BF51 RIN: 1545-BD31 _______________________________________________________________________ 2861. TREATMENT OF DISREGARDED ENTITIES UNDER SECTION 752 Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9289 10/11/06 71 FR 59669 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Charlotte Chyr Phone: 202 622-3070 Fax: 202 622-4804 Email: charlotte.chyr@ irscounsel.treas.gov RIN: 1545-BD48 _______________________________________________________________________ 2862. MANUFACTURER INCENTIVE PAYMENTS IN AN INTERCOMPANY TRANSACTION Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Withdrawn 05/08/06 71 FR 26721 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Frances L. Kelly Phone: 202 622-7072 Email: frances.l.kelly@ irscounsel.treas.gov Related RIN: Related to 1545-BF32 RIN: 1545-BD55 _______________________________________________________________________ 2863. AGGREGATE COMPUTATION; ALLOCATION OF RESEARCH CREDIT Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9296 11/09/06 71 FR 65722 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Nicole R. Cimino Phone: 202 622-3120 Related RIN: Related to 1545-BA88, Related to 1545-BE17 RIN: 1545-BD60 _______________________________________________________________________ 2864. FLAT RATE SUPPLEMENTAL WAGE WITHHOLDING Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 31 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9276 07/25/06 71 FR 42049 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Alfred G. Kelley Phone: 202 622-6040 RIN: 1545-BD96 _______________________________________________________________________ 2865. SECTION 6011 REGULATIONS (TEMPORARY) Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Withdrawn 08/22/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Tara P. Volungis Phone: 202 622-3080 Related RIN: Related to 1545-BE24 RIN: 1545-BE25 _______________________________________________________________________ 2866. SECTION 6111 REGULATIONS (TEMPORARY) Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 301 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Withdrawn 08/22/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Tara P. Volungis Phone: 202 622-3080 Related RIN: Related to 1545-BE26 RIN: 1545-BE27 _______________________________________________________________________ 2867. SECTION 6112 REGULATIONS (TEMPORARY) Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 301 [[Page 73792]] Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Withdrawn 08/22/06 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Tara P. Volungis Phone: 202 622-3080 Related RIN: Related to 1545-BE28 RIN: 1545-BE29 _______________________________________________________________________ 2868. EMPLOYER COMPARABLE CONTRIBUTIONS TO HEALTH SAVINGS ACCOUNTS UNDER SECTION 4980G Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 54 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action completed by TD 9277 07/31/06 71 FR 43056 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Elizabeth A. Purcell Phone: 202 622-6080 RIN: 1545-BE30 _______________________________________________________________________ 2869. DOMESTIC WORKERS REGULATION UPDATE (APPLICATION OF THE FEDERAL INSURANCE CONTRIBUTIONS ACT TO PAYMENTS MADE FOR CERTAIN SERVICES) Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 31 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9266 06/19/06 71 FR 35153 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Selvan V. Boominathan Phone: 202 622-0047 RIN: 1545-BE32 _______________________________________________________________________ 2870. INCOME ATTRIBUTABLE TO DOMESTIC PRODUCTION ACTIVITIES Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9263 06/01/06 71 FR 31268 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Paul F. Handleman Phone: 202 622-3040 RIN: 1545-BE33 _______________________________________________________________________ 2871. SPECIAL DEPRECIATION ALLOWANCE--EXTENDED PLACED-IN-SERVICE DATE Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Withdrawn 07/25/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Patrick S. Kirwan Phone: 202 622-3110 Related RIN: Related to 1545-BE56 RIN: 1545-BE55 _______________________________________________________________________ 2872. SPECIAL DEPRECIATION ALLOWANCE-EXTENDED PLACED-IN-SERVICE DATE (TEMPORARY) Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Withdrawn 07/25/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Patrick S. Kirwan Phone: 202 622-3110 Related RIN: Related to 1545-BE55 RIN: 1545-BE56 _______________________________________________________________________ 2873. LIMITATION ON TRANSFER OF BUILT-IN LOSSES (TEMPORARY) Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Withdrawn 10/18/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Jay M. Singer Phone: 202 622-7530 Related RIN: Related to 1545-BE58 RIN: 1545-BE59 _______________________________________________________________________ 2874. DIVIDENDS PAID DEDUCTION FOR STOCK HELD IN EMPLOYEE STOCK OWNERSHIP PLAN (ESOP) Priority: Substantive, Nonsignificant CFR Citation: 26 USC 404(K) Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9282 08/30/06 71 FR 51471 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: John T. Ricotta Phone: 202 622-6060 RIN: 1545-BE74 _______________________________________________________________________ 2875. RAILROAD TRACK MAINTENANCE CREDIT (TEMPORARY) Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Temporary Regulation 09/08/06 71 FR 53009 Temporary Regulation Effective 09/08/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Winston H. Douglas Phone: 202 622-3110 Related RIN: Related to 1545-BE90 RIN: 1545-BE91 _______________________________________________________________________ 2876. INTERCOMPANY TRANSACTIONS; MANUFACTURER INCENTIVE PAYMENTS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 [[Page 73793]] Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9261 05/08/06 71 FR 26687 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Frances L. Kelly Phone: 202 622-7072 Email: frances.l.kelly@ irscounsel.treas.gov Related RIN: Related to 1545-BD55 RIN: 1545-BF32 _______________________________________________________________________ 2877. AMENDMENT OF STATUTORY MERGERS AND CONSOLIDATIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9259 04/25/06 71 FR 23855 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Richard M. Heinecke Phone: 202 622-7930 Related RIN: Related to 1545-BA06, Related to 1545-BD76 RIN: 1545-BF36 _______________________________________________________________________ 2878. [bull] INFORMATION RETURNS REQUIRED WITH RESPECT TO CERTAIN FOREIGN CORPORATIONS AND OTHER CONFORMING CHANGES (TEMPORARY) Priority: Substantive, Nonsignificant 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 ________________________________________________________________________ Interim Final Rule Completed by TD 9268 06/21/06 71 FR 35524 Regulatory Flexibility Analysis Required: No Small Entities Affected: 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 Related RIN: Related to 1545-BE47 RIN: 1545-BF49 _______________________________________________________________________ 2879. [bull] COMPUTER SOFTWARE UNDER SECTION 199(C)(5)(B) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 199; 26 USC 7805 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: Guidance regarding the deduction for income attributable to domestic production activities under section 199 as applied to the production of computer software. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule Completed by TD 9262 06/01/06 71 FR 31074 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Additional Information: REG-111578-06 Drafting attorney: Lauren Ross Taylor (202) 622-3040 Reviewing attorney: Paul F. Handleman (202) 622-3040 Treasury attorney: Dennis Tingey (202) 622-1335 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 Related RIN: Related to 1545-BE33 RIN: 1545-BF57 _______________________________________________________________________ 2880. [bull] USER FEES RELATING TO ENROLLMENT Priority: Substantive, Nonsignificant Legal Authority: 31 USC 9701 CFR Citation: 26 CFR 300 Legal Deadline: None Abstract: Proposed regulations implementing user fees for the special enrollment examination for enrolled agents, the application for enrollment of enrolled agents and the renewal of such enrollment. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action Completed by TD 9288 10/05/06 71 FR 58740 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Additional Information: REG-145154-05 Drafting attorney: Matthew S. Cooper (202) 622-4940 Reviewing attorney: Janice Feldman (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-BF68 _______________________________________________________________________ 2881. [bull] DETERMINATION OF INTEREST EXPENSE DEDUCTION OF FOREIGN CORPORATIONS (TEMPORARY) Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC 882 CFR Citation: 26 CFR 1 Legal Deadline: None Abstract: This regulation sets forth rules providing the allocation of [[Page 73794]] 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 ________________________________________________________________________ Temporary Final Action Completed by TD 9281 08/17/06 71 FR 47443 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: Andrew Froberg (202) 622-1779 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-BF71 RIN: 1545-BF70 BILLING CODE 6720--01--S _______________________________________________________________________ Department of the Treasury (TREAS) Proposed Rule Stage Office of Thrift Supervision (OTS) _______________________________________________________________________ 2882. IMPLEMENTATION OF A REVISED BASEL CAPITAL ACCORD (BASEL II) Regulatory Plan: This entry is Seq. No. 97 in part II of this issue of the Federal Register. RIN: 1550-AB56 _______________________________________________________________________ 2883. 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. 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 _______________________________________________________________________ 2884. RISK-BASED CAPITAL GUIDELINES; CAPITAL ADEQUACY GUIDELINES; MAINTENANCE: DOMESTIC CAPITAL MODIFICATIONS Priority: Other Significant. 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 1828 note CFR Citation: 12 CFR 567 Legal Deadline: None Abstract: The Office of the Comptroller of the Currency, Board of Governors of 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 plan to publish an NPRM implementing domestic capital modifications. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 10/20/05 70 FR 61068 ANPRM Comment Period End 01/18/06 NPRM 12/00/06 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: Undetermined [[Page 73795]] Federalism: Undetermined 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, Counsel (Banking and Finance), 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 _______________________________________________________________________ 2885. 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 12/00/06 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 _______________________________________________________________________ 2886. 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 is proposing 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 would be substantively identical to the rules adopted by the other Banking Agencies (OCC, FRB, and FDIC), including rules reflecting the Agencies' views on the U.S. implementing trading book improvements in international accords. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 09/25/06 71 FR 55958 NPRM Comment Period End 01/23/07 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 _______________________________________________________________________ Department of the Treasury (TREAS) Final Rule Stage Office of Thrift Supervision (OTS) _______________________________________________________________________ 2887. 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 [[Page 73796]] 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 12/00/06 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 _______________________________________________________________________ 2888. 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 06/00/07 Regulatory Flexibility Analysis Required: Undetermined Small Entities Affected: Businesses 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 _______________________________________________________________________ 2889. 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 12/00/06 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 [[Page 73797]] _______________________________________________________________________ 2890. 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 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 _______________________________________________________________________ 2891. [bull] SUBORDINATED DEBT SECURITIES AND MANDATORILY REDEEMABLE PREFERRED STOCK 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; 31 USC 5318; 42 USC 4106 CFR Citation: 12 CFR 563 Legal Deadline: None Abstract: OTS issued a proposed rule revising its rules governing the inclusion of subordinated debt securities and mandatorily redeemable preferred stock in supplementary capital. The proposed rule deletes several unnecessary or outdated requirements and conforms certain other provisions, such as maturity period requirements and purchaser restrictions, to the rules issued by the other Federal banking agencies. In addition, the proposed rule reconciles conflicting rules, add appropriate statutory cross-references, and rewrites the rule in plain language. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/03/06 71 FR 37862 NPRM Comment Period End 09/01/06 Final Rule 01/00/07 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: 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 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 Gary Jeffers, Senior Attorney, Business Transactions Division, Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-6457 RIN: 1550-AC06 _______________________________________________________________________ 2892. [bull] 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 12/00/06 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 [[Page 73798]] _______________________________________________________________________ Department of the Treasury (TREAS) Completed Actions Office of Thrift Supervision (OTS) _______________________________________________________________________ 2893. COMMUNITY REINVESTMENT ACT Priority: Substantive, Nonsignificant CFR Citation: 12 CFR 563e Completed: ________________________________________________________________________ Reason Date FR Cite ________________________________________________________________________ Final Rule 04/12/06 71 FR 18614 Final Rule Effective 04/12/06 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Celeste Anderson Phone: 202 906-7990 Richard Bennett Phone: 202 906-7409 RIN: 1550-AB48 _______________________________________________________________________ 2894. [bull] TECHNICAL AMENDMENTS TO REFLECT BIF AND SAIF MERGER Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1464; 12 USC 2810 et seq; 12 USC 2901 et seq; 15 USC 1691; 42 USC 1981 to 1982; 42 USC 3601 to 3619; 12 USC 1462; 12 USC 1462a; 12 USC 1463; 12 USC 1467a; 12 USC 375b; 12 CFR 1468; 12 CFR 1817; 12 CFR 1820; 12 CFR 1828; 12 CFR 1831i, o, p-1; 12 CFR 3806; 31 USC 5318; 42 USC 4106; 15 USC 78c, l, m, n, and w; 12 USC 1881 to 1884; 15 USC 1681s; 15 USC 1681w; 15 USC 6801; 15 USC 6805(b)(1) CFR Citation: 12 CFR 528; 12 CFR 546; 12 CFR 552; 12 CFR 561; 12 CFR 563; 12 CFR 563b; 12 CFR 570; 12 CFR 574; 12 CFR 575; 12 CFR 583 Legal Deadline: None Abstract: OTS is amending its regulations to incorporate numerous technical and conforming amendments necessary to reflect the recent merger of the Bank Insurance Fund (BIF) and the Savings Association Insurance Fund (SAIF) under the Deposit Insurance Reform Act of 2005. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Rule 04/18/06 71 FR 19810 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Sandra Evans, Department of the Treasury, Office of Thrift Supervision, Regulation and Legislative Division, 1700 G Street NW., Washington, DC 20552 Phone: 202 906-6076 Fax: 202 906-6518 Email: sandra.evans@ots.treas.gov RIN: 1550-AC05 [FR Doc. 06-8147 Filed 12-08-06; 8:45 am] BILLING CODE 6720-01-S