Internal Revenue Bulletin: 2005-9
February 28, 2005
Proposed regulations under section 6103(n) of the Code describe the circumstances under which officers and employees of the Treasury Department, a state tax agency, the Social Security Administration, or the Department of Justice may disclose returns and return information to any person to obtain property or services for tax administration purposes. The proposed regulations clarify the existing regulations with respect to redisclosures of returns or return information by contractors, especially with regard to redisclosures by contractors to agents or subcontractors, and clarify that the civil and criminal penalties for the unauthorized inspection or disclosure of returns or return information apply to the agents or subcontractors.
The differential earnings rate for 2004 is tentatively determined for use by mutual life insurance companies to compute their income tax liability for 2004.
This procedure provides issuers of qualified mortgage bonds and qualified mortgage credit certificates with average area purchase price safe-harbors for statistical areas in the United States and with a nationwide average purchase price for residences in the United States for purposes of the mortgage revenue bond rules under section 143 of the Code (and the mortgage credit certificate rules under section 25). Rev. Proc. 2004-18 obsoleted in part.
This document contains corrections and clarifications to Publication 1220, Specifications for Filing Forms 1098, 1099, 5498, and W-2G Electronically or Magnetically (revised 9-2004).
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