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May 2006 Plain Language Regulations

Guidance Necessary to Facilitate Business Electronic Filing and Burden Reduction
These proposed regulations affect taxpayers that file Federal income tax returns.  They simplify, clarify, or eliminate reporting burdens and 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.
REG-134317-05.  Published May 30, 2006.
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Guidance Necessary to Facilitate Business Electronic Filing and Burden Reduction
This document contains temporary regulations that affect taxpayers that file Federal income tax returns. They simplify, clarify, or eliminate reporting burdens and 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. 
TD 9264.  Published May 30, 2006.
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Credit for Household and Dependent Care Services
Taxpayers who pay for household and dependent care services in order to be employed are entitled to a credit if they have "qualifying individuals" (generally, children under 13 or disabled dependents).  These proposed regulations renumber, restructure, and revise the current regulations under to reflect statutory amendments and address significant issues that haven arisen recently.
REG-139059-02.  Published May 24, 2006.
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Intercompany Transactions; Manufacturer Incentive Payments
Proposed regulations published on August 13, 2004 provided additional examples in the intercompany transaction regulations to clarify the proper treatment of manufacturer incentive payments. One of these examples relied, in part, upon the premise that the manufacturer incentive payment is an ordinary and necessary business expense that is deductible.  Because this treatment is now under reconsideration, the proposed regulations are withdrawn.  REG-131264-04.  Published May 8, 2006.
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Intercompany Transactions; Manufacturer Incentive Payments
The transaction described in Example 13 of the intercompany transaction regulations relies, in part, upon the premise that the manufacturer incentive payment is an ordinary and necessary business expense that is deductible.  Because this treatment is now under reconsideration, these final regulations remove and reserve Example 13.
TD 9261.  Published May 8, 2006.
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Page Last Reviewed or Updated: 22-Jan-2014