Internal Revenue Bulletin: 2008-9 |
March 3, 2008 |
Table of Contents
- Highlights of This Issue
- Preface
- Actions Relating to Decisions of the Tax Court
- Part I. Rulings and Decisions Under the Internal Revenue Code of 1986
- Part III. Administrative, Procedural, and Miscellaneous
- Part IV. Items of General Interest
- REG-139236-07
- REG-149475-07
- Announcement 2008-15
- Announcement 2008-16
- Announcement 2008-17
- AGENCY:
- ACTION:
- SUMMARY:
- DATES:
- ADDRESSES:
- FOR FURTHER INFORMATION CONTACT:
- SUPPLEMENTARY INFORMATION:
- Prior Administrative Guidance
- Pension Protection Act of 2006
- Potential for Abuse of Section 529 Accounts
- Overview of Proposed Regulations
- Explanation of Provisions
- I. Anti-abuse Rule.
- II. Rules Relating to the Tax Treatment of Contributions to and Participants in Section 529 Accounts.
- A. AO’s liability for any gift and/or GST tax imposed on a taxable change of DB.
- B. AO’s liability for tax imposed on any withdrawal by the AO from a section 529 account for the AO’s own benefit and on a change in AO.
- C. Application of transfer tax where permissible contributors to section 529 accounts include persons other than individuals.
- D. Special rules apply in the case of individuals who contribute to section 529 accounts for their own benefit and in the case of Uniform Gifts to Minors Act (UGMA) and Uniform Transfers to Minors Act (UTMA) accounts that contribute to such accounts for the benefit of their minor beneficiaries.
- E. Circumstances under which the account of a deceased DB will be distributed to, and includible in, the gross estate of the deceased DB for estate tax purposes.
- III. Rules Governing the Function and Operation of QTPs and Section 529 Accounts
- A. Rules for making the election under section 529(c)(2)(B) to treat contributions to a section 529 account as being made over a 5-year period.
- B. Income tax issues related to section 529 accounts
- C. Recordkeeping reguirements and administrative procedures
- Request for Comments
- Drafting Information
- Definition of Terms and Abbreviations
- Numerical Finding List
- Effect of Current Actions on Previously Published Items
- How to get the Internal Revenue Bulletin
More Internal Revenue Bulletins |