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November 2002 Plain Language Regulations

Liability for Insurance Premium Excise Tax
An excise tax is imposed on policies of insurance and reinsurance issued by foreign insurance companies. The excise tax is incurred by any person who makes, signs, issues or sells any of the documents and instruments subject to the tax, or for whose use of benefit the same are made, signed, issued, or sold. These regulations clarify that liability for the tax is uncured by a U.S. person for whose benefit a policy is written when the premium is paid by a foreign person. TD 9024. Published November 27, 2002.
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Taxpayer Identification Number Rule
Taxpayer Identification Number Rule Where Taxpayer Claims Treaty Rate and is Entitled to an Unexpected Payment; These final regulations allow withholding agents, who are also special acceptance agents, to rely on a beneficial owner withholding certificate that does not contain an individual taxpayer identifying number (ITIN) in limited circumstances when the IRS is not issuing ITINs. Specifically, the regulation has the effect of: (1) allowing certain withholding agents to obtain ITINs on an expedited basis for foreign individuals receiving unexpected payments and claiming tax treaty benefits with respect to those payments; and (2) allowing withholding agents to make unexpected payments to foreign individuals, who do not possess ITINs, when the use of the expedited process is unavailable. TD 9023. Published November 22, 2002.
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Outbound Liquidations to Foreign Corporations
These proposed regulations provide guidance regarding certain outbound liquidations of a subsidiary corporation into its parent corporation. Specifically, the regulations clarify the scope of an anti-abuse rule that is applicable to outbound transfers by a domestic corporation to a foreign corporation in a complete liquidation in which a principal purpose of such liquidation is the avoidance of U.S. tax. REG-127380-02. Published November 20, 2002.
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Statement of Procedural Rules
This final rule amends the Statement of Procedural Rules to reflect changes effected by the Electronic Freedom of Information Act Amendments of 1996, to update organizational titles and addresses, and to make certain changes in the IRS's procedures for processing Freedom of Information Act requests. These amendments conform to procedures set forth in the Department of the Treasury's regulations on disclosure of records under the FOIA. REG-251003-96. Published November 19, 2002.
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Reporting Taxable Stock Transactions
These proposed regulations relate to information reporting by a corporation if control of the corporation is acquired, or if the corporation has a recapitalization or other substantial change in capital structure. The proposed regulations also concern information reporting requirements for brokers with respect to transactions. REG-143321-02. Published November 18, 2002.
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Reporting Taxable Stock Transactions
These proposed regulations relate to information reporting by a corporation if control of the corporation is acquired, or if the corporation has a recapitalization or other substantial change in capital structure. The proposed regulations also concern information reporting requirements for brokers with respect to transactions. TD 9022. Published November 18, 2002.
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Substantiation of Incidental Expenses
Taxpayers are generally required to substantiate deductions for travel expenses such as lodging, meals and incidental expenses. These regulations authorize the Commissioner to establish a method under which taxpayers may substantiate the amount of incidental expenses paid or incurred while traveling away from home by means of an allowance without substantiating the actual cost. The taxpayer will not be relieved of the requirement to substantiate the actual cost of other travel expenses as well as the time, place, and business purpose of the travel. REG-141832-02. Published November 12, 2002.
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Substantiation of Incidental Expenses

Taxpayers are generally required to substantiate deductions for travel expenses such as lodging, meals and incidental expenses. These regulations authorize the Commissioner to establish a method under which taxpayers may substantiate the amount of incidental expenses paid or incurred while traveling away from home by means of an allowance without substantiating the actual cost. The taxpayer will not be relieved of the requirement to substantiate the actual cost of other travel expenses as well as the time, place, and business purpose of the travel. TD 9020. Published November 12, 2002.
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User Fees for Processing Offers to Compromise
These proposed regulations provide for the imposition of a $150.00 user fee for the processing of offers to compromise. The charging of user fees implements the Independent Offices Appropriations Act, 31 U.S.C. §9701. The proposed user fee would not apply to offers based on doubt as to liability, offers made by low income taxpayers, offers accepted to promote effective tax administration, and offers accepted based on doubt as to collectibility where there has been a determination that, although an amount greater than the amount offered could be collected, collection of more than the amount offered would create economic hardship within the meaning of Treas. Reg. §301.6343-1. REG-103777-02. Published November 6, 2002.
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Page Last Reviewed or Updated: 17-Aug-2012