Internal Revenue Bulletin: 2004-10
March 8, 2004
This procedure provides an elective safe harbor that the owner of an oil and gas property may use in determining the property’s recoverable reserves for purposes of computing cost depletion under section 611 of the Code.
This announcement provides information regarding changes to the reporting for certain 2002 forms by certain fiscal year pass-through entities affected by pending technical corrections to the qualified dividend rules. Partnerships, S corporations, and estates (including revocable trusts treated as part of an estate) with a fiscal year beginning in 2002 that received qualified dividends in 2003 must reflect the changes required by this announcement in their reporting for the tax year. Announcement 2003-56 modified.
This document announces the cancellation of a public hearing on proposed regulations (REG-110896-98, 2003-51 I.R.B. 1226) under section 664(b) of the Code concerning the characterization of distributions from charitable remainder trusts.
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