IRS Notices

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In Notice 2014-21, The Internal Revenue Service provided guidance regarding the tax treatment of "convertible virtual currency", i. e. Bitcoin. For those who were thinking that Bitcoin or other similar ideas was a panacea for trading freely without the need for...

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On December 23, 2013, the IRS issued Notice 2014-4, 2014-2 IRB, providing interim guidance for Type III supporting organizations (SOs) seeking to qualify as functionally integrated by supporting a governmental supported organization.  The notice also provides...

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1 Aug 2012 | IRS Notices | National Publication | News story

The IRS has issued guidance regarding the deductibility of contributions to domestic single-member limited liability companies that are wholly owned and controlled by U.S. charities and for federal tax purposes are disregarded as entities separate from their owners...

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12 Apr 2012 | IRS Notices | National Publication | News story | 1 comments

In response to IRS Notice 2012-25, which requests items for inclusion in the 2012-2013 Guidance Priority List, attorney Lawrence P. Katzenstein of of Thompson Coburn LLP has suggested three exceptions or clarifications be made to the qualified appraisal...

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12 Dec 2011 | IRS Notices | National Publication | News story | 1 comments

The IRS has issued guidance for standard mileage rates for taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes for 2012. The rate for rendering gratuitous services to a...

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13 Sep 2011 | IRS Notices | National Publication | News story

The IRS has announced it is extending the due dates for Forms 706, 706A (Federal Estate Tax Returns), and 8939 (Allocation of Increase in Basis for Property Acquired From a Decedent.) for decedents who died in 2010 provided the executor files a timely Form 4768...

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21 Jul 2011 | IRS Notices | National Publication | News story

The Department of the Treasury, as part of its continuing effort to reduce paperwork and...

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18 Jul 2011 | IRS Notices | National Publication | News story

The IRS is asking for comments in connection with Rev. Proc. 2005-24, which provides a safe harbor procedure to avoid the disqualification of a charitable remainder trust because of the existence of a spousal right of election under state law, and notice 2006-...

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9 Jun 2011 | IRS Notices | National Publication | News story

Notice 2011-43 provides transitional relief for certain small organizations (those that normally have annual gross receipts of not more than $50,000 in their most recently completed taxable year) that have been automatically revoked because they failed to file an...

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31 Mar 2010 | IRS Notices | National Publication | News story
Writing for the national office of Deloitte Tax LLP, Laura Peebles has asked the IRS to clarify the gift tax consequences that Notice 2010-19 imposes on transfers to charitable remainder trusts.
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10 Mar 2010 | IRS Notices | National Publication | News story
The IRS has announced the February 27 earthquake in Chile is a qualified disaster for section 139 purposes. Accordingly, employer-sponsored private foundations may provide disaster relief to employee victims of the earthquake and recipients may exclude relief payments...
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19 Feb 2010 | IRS Notices | National Publication | News story
Writing on his own behalf and for Martin Hall of Ropes and Gray, LLP, Boston, attorney Lawrence P. Katzenstein of Thompson Coburn LLP, St. Louis, has asked the service to address the gift tax consequences of Notice 2010-19 on transfers to charitable remainder trusts.
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9 Feb 2010 | IRS Notices | National Publication | News story
The IRS has issued Notice 2010-19 in which it states that transfers made after 2009 to a grantor trust that is not wholly owned by the donor or the donor's spouse is treated as a gift of the entire interest in the property under section 2511(c).
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9 Feb 2010 | IRS Notices | National Publication | News story | 2 comments

Writing on behalf of the American Counsel on Gift Annuities, Conrad Teitell has responded to Notice 2010-19 in which he explains potential unintended and adverse gift tax consequences on transfers to charitable remainder trusts and asks the IRS to immediately issue...

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1 Feb 2010 | IRS Notices | National Publication | News story
The IRS has issued guidance explaining how exempt organizations required to file certain returns electronically may obtain a waiver of those requirements. The Notice also includes guidance on the timely filing of an electronically filed return that is rejected.
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21 Jul 2009 | IRS Notices | National Publication | News story
In Notice 2009-55 the IRS has issued its current list of transactions of interest identified in previous guidance that requires taxpayers entering into such transactions and material advisers who make a tax statement regarding such transactions to disclose them to the...
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3 Nov 2008 | IRS Notices | National Publication | News story | 3 comments

The IRS on Halloween issued Notice 2008-99 in which it announced its interest in a type of transaction involving the sale of interests in a charitable remainder trust that might result in inappropriate tax avoidance by the trust

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6 Oct 2008 | IRS Notices | National Publication | News story | 2 comments
Treasury has issued Notice 2008-90 in which it announces that the Internal Revenue Service (Service) and the Treasury Department are studying the computation of the deductible amount and adjustment to cost of goods sold for charitable contributions of inventory...
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14 May 2008 | IRS Notices | National Publication | News story
The IRS has provided interim guidance on the requirement that section 501(c)(3) organizations (charities) make available for public inspection Forms 990-T, Exempt Organization Business Income Tax Return.
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28 Feb 2008 | IRS Notices | National Publication | News story
The IRS has issued interim guidance and requested comments on the treatment under IRC
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Define: IRS Notices

A notice is a public pronouncement that may contain guidance that involves substantive interpretations of the Internal Revenue Code or other provisions of the law. For example, notices can be used to relate what regulations will say in situations where the regulations may not be published in the immediate future. Notices are also used by the IRS to notify the public and IRS staff regarding specific transactions that have come to its attention and how it might respond to them.

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