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September 2004 Plain Language Regulations

Timely Mailing Treated As Timely Filing
These proposed regulations clarifies that, other than direct proof of actual delivery, taxpayers may only rely on a registered or certified mail receipt to establish a presumption that Federal tax documents have been delivered to the intended office.
REG-138176-02. Published September 21, 2004.
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Treatment of Certain Nuclear Decommissioning Funds for Purposes of Allocating Purchase Price in Certain Deemed and Actual Asset Acquisitions
The proposed regulations would affect the treatment of certain nuclear decommissioning funds in the allocation of purchase price in deemed and actual asset acquisitions under sections 338 and 1060.  The rule would not apply to nuclear decommissioning funds qualifying under section 468A.  The new treatment would be elective on the part of taxpayers.  The election might result in a reduced allocation to the assets held in the settlement fund and a commensurately increased allocation to other deemed-acquired or actually-acquired assets. 
REG-169135-03.  Published September 16, 2004.
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Treatment of Certain Nuclear Decommissioning Funds for Purposes of Allocating Purchase Price in Certain Deemed and Actual Asset Acquisitions
The temporary regulations will affect the treatment of certain nuclear decommissioning funds in the allocation of purchase price in deemed and actual asset acquisitions under sections 338 and 1060.  The rule will not apply to nuclear decommissioning funds qualifying under section 468A.  The new treatment is elective on the part of taxpayers.  The election may result in a reduced allocation to the assets held in the settlement fund and a commensurately increased allocation to other deemed-acquired or actually-acquired assets. TD 9158.  Published September 16, 2004.
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Place for Filing Returns or Other Documents
These final regulations relating to the filing of hand-carried returns and other documents, remove references to IRS titles and organizational units that have been superseded and replace them with updated references to offices and officers that are sufficiently flexible to take in account any future changes to structure or operations of the IRS.  TD 9156.  Published September 16, 2004.
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Electronic Filing of Duplicate Forms 5472
This final regulation amends existing regulations to provide that a Form 5472 that is timely filed electronically is treated as satisfying the requirement timely to file a duplicate Form 5472 with the Internal Revenue Service Center in Philadelphia, Pennsylvania.  The regulation affects corporations subject to the reporting requirements in sections 6038A and 6038C of the Internal Revenue Code that file Form 5472 electronically.  The regulations are effective for taxable years ending on or after January 1, 2003. TD 9161.  Published September 15, 2004.
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Predeceased Parent Rule
A generation-skipping transfer tax is imposed on certain transfers made to individuals who are two or more generations below the generation of the transferor.  These proposed regulations provide guidance and examples regarding a special rule for persons with a deceased parent.  In addition, these proposed regulations provide a special rule for certain adopted individuals.
REG-145988-03.  Published September 3, 2004.
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Treatment of a Stapled Foreign Corporation under Sections 269B and 367(b)

These proposed regulations address whether a foreign corporation is a stapled foreign corporation under Internal Revenue Code section 269B, whether a foreign stapled corporation is an includable corporation under section 1504(b), how a deemed conversion under section 269B is treated, whether treaties impact the taxation of stapled foreign corporations, and whether the IRS may collect tax owed by a stapled foreign corporation from the corresponding stapled domestic corporation or the stapled foreign corporation's shareholders. REG-101282-04. 
Published September 7, 2004.
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Page Last Reviewed or Updated: 30-Dec-2013