IRS Logo
Print - Click this link to Print this page

June 2002 Plain Language Regulations

Agent for Consolidated Group
These final regulations relate to the agent for subsidiaries of an affiliated group that files a consolidated return (agent for the group). The regulations address certain issues concerning the scope of the common parent's authority, as well as questions concerning the agent for the group when the common parent's existence terminates. They affect all consolidated groups. TD9002. Published June 28, 2002.
Download Full Text

Widely Held Fixed Investment Trusts
These proposed regulations provide the reporting rules for the trustees of certain investment trusts and for the brokerage firms that hold interests, as middlemen, for investors in these trusts. These proposed regulations replace proposed regulations (REG-209813-96), published on August 13, 1998 in the Federal Register (63 FR 43354). REG-106871-00; REG-209813-96. Published June 20, 2002.
Download Full Text

Disclosure of Return Information
The Internal Revenue Code provides that, pursuant to regulations, the IRS may disclose to the Department of Agriculture, for its use in compiling the Census of Agriculture, tax returns and other information that the IRS receives from taxpayers. Current regulations specify the particular items of information that the IRS may disclose to the Department of Agriculture for this purpose. This final regulation adds the taxpayer's phone number to the list of items that may be disclosed to the Department of Agriculture. TD 9001. Published June 19, 2002.
Download Full Text

Modification of Tax Shelter Rules III
These temporary regulations modify the rules relating to the filing by certain taxpayers of a statement with their Federal income tax returns under section 6011(a) and the registration of confidential corporate tax shelters under section 6111(d). They also affect the list maintenance requirement under section 6112. REG-103735-00; REG-110311-98. Published June 18, 2002.
Download Full Text

Modification of Tax Shelter Rules III
These temporary regulations modify the rules relating to the filing by certain taxpayers of a statement with their Federal income tax returns under section 6011(a) and the registration of confidential corporate tax shelters under section 6111(d). They also affect the list maintenance requirement under section 6112. TD 9000. Published June 18, 2002.
Download Full Text

Guidance on Cancellation of Indebtedness
These proposed regulations define organizations a significant trade or business of which is the lending of money. They provide that, for the purpose of section 6050P(c)(2)(D), lending money includes acquiring a loan, and gross income arising from that loan is gross income from lending money. REG-107524-00. Published June 13, 2002.
Download Full Text

Domestic Reverse Hybrid Entities
These final regulations clarify the eligibility for treaty benefits of items of income paid by domestic entities that are not fiscally transparent under U.S. law but are fiscally transparent under the laws of the jurisdiction of the person claiming treaty benefits (domestic reverse hybrid entities). TD 8999. Published June 12, 2002. Correction published July 17, 2002.
Download Full Text

Low Income Taxpayer Clinics
Low-Income Taxpayer Clinics; Definition of Income Tax Preparer. These proposed regulations provide guidance as to when a qualified Low-Income Taxpayer Clinic (LITC) will be considered an income tax return preparer under the Internal Revenue Code. They also provide guidance as to when certain persons who are employed by, or volunteer for, such a clinic will be considered an income tax return preparer. REG-115285-01. Published June 11, 2002.
Download Full Text

Definition of Highway Vehicle
These proposed regulations will revise the definition of a highway vehicle for purposes of various excise taxes and affect vehicle manufacturers, dealers, and lessors, tire manufacturers, sellers and buyers of certain motor fuels, and operators of heavy highway vehicles. REG-103829-99. Published June 6, 2002.
Download Full Text

Modified Guaranteed Contracts
These proposed regulations affect insurance companies that define the interest rate to be used with respect to certain insurance contracts that guarantee higher returns for an initial, temporary period. Specifically, they define the appropriate interest rate to be used in the determination of tax reserves and required interest for certain modified guarantee contracts. They also address how temporary guarantee periods that extend past the end of a taxable year are to be taken into account. REG-248110-96. Published June 3, 2002. Correction Notice June 19, 2002.
Download Full Text

- Go to July 2002 -          - Go to May 2002 -

Page Last Reviewed or Updated: 17-Aug-2012