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October 2005 Plain Language Regulations

Disregarded Entities; Employment & Excise Taxes
These proposed regulations would affect qualified subchapter S subsidiaries and single owner eligible entities, as well as their owners and employees, in the payment and reporting of federal employment taxes. These regulations also would affect such disregarded entities and their owners in the payment and reporting of certain federal excise taxes, and in the registration and claims related to these taxes. 
REG-114371-05.  Published October 18, 2005.
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Balanced System for Measuring Organizational and Employee Performance Within the Internal Revenue Service
The Internal Revenue Service manages its organizational components and employees using a balanced system of measures of customer satisfaction, employee satisfaction, and business results. These regulations revise the existing regulations governing the balanced measures system by removing the limitations on the use of quantity measures in evaluating the performance of, or imposing or suggesting goals for organizational units, and the use of quantity measures to impose or suggest goals for employees. 
TD 9227.  Published October 17, 2005.
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Balanced System for Measuring Organizational and Employee Performance Within the Internal Revenue Service
The Internal Revenue Service manages its organizational components and employees using a balanced system of measures of customer satisfaction, employee satisfaction, and business results.  These regulations revise the existing regulations governing the balanced measures system by removing the limitations on the use of quantity measures in evaluating the performance of, or imposing or suggesting goals for organizational units, and the use of quantity measures to impose or suggest goals for employees.  REG-114444-05.  Published October 17, 2005.
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Section 409A to Nonqualified Deferred Compensation Plans
Section 409A provides that unless certain requirements are met, amounts deferred under a nonqualified deferred compensation plan for all taxable years are currently includible in gross income to the extent not subject to a substantial risk of forfeiture and not previously included in gross income.  The proposed regulations address the requirements set forth in section 409A to avoid this immediate taxation.  Specifically, the proposed regulations address the scope of nonqualified deferred compensation and the application of the statutory effective dates.  The regulations also provide guidance with respect to the rules governing initial deferral elections, subsequent deferral elections and the acceleration of payments contained in section 409A.  Finally, the preamble and the regulations provide certain additional transition relief, and extend certain transition relief contained in Notice 2005-1.
REG-158080-04.  Published October 4, 2005.
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