Internal Revenue Bulletin: 2004-49
December 6, 2004
Table of Contents
Federal rates; adjusted federal rates; adjusted federal long-term rate and the long-term exempt rate. For purposes of sections 382, 642, 1274, 1288, and other sections of the Code, tables set forth the rates for December 2004.
Proposed regulations provide updated guidance on tax-shelter annuities, custodial accounts of public schools and section 501(c)(3) tax-exempt organizations and church retirement income accounts authorized under section 403(b) of the Code. These regulations would provide the public with guidance necessary to comply with the law and affect sponsors of section 403(b) contracts, administrators, participants, and beneficiaries. A public hearing is scheduled for February 15, 2005.
This notice provides guidance regarding the definition of dependent under section 106 of the Code.
Insurance companies; loss reserves; discounting unpaid losses. The loss payment patterns and discount factors are set forth for the 2004 accident year. These factors will be used to compute discounted unpaid losses under section 846 of the Code.
Insurance companies; discounted estimated salvage recoverable. The salvage discount factors are set forth for the 2004 accident year. These factors will be used to compute discounted estimated salvage recoverable under section 832 of the Code.
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