Internal Revenue Bulletin: 2005-42
October 17, 2005
This notice summarizes and clarifies the relief previously granted under sections 6081, 6161, 6656, and 7508A of the Code with respect to taxpayers affected by Hurricane Katrina. By news releases issued on August 30, 2005, September 2, 2005, September 8, 2005, and September 14, 2005, the IRS granted relief from filing and payment deadlines, and granted relief from the acts listed in regulations section 301.7508A-1(c)(1) and Rev. Proc. 2005-27, 2005-20 I.R.B. 1050. See IR-2005-84, IR-2005-91, IR-2005-96, and IR-2005-103. The news releases provided that taxpayers affected by the disaster will have until January 3, 2006, to file certain tax returns and submit payments. In addition, the news releases announced that the IRS will abate interest and any late filing or late payment penalties that otherwise would apply. This relief includes the September 15, 2005, due date for estimated taxes and for calendar-year corporate returns with automatic extensions. This notice summarizes the relief previously granted in the news releases.
Per diem allowances. This procedure provides optional rules for deeming substantiated the amount of certain business expenses of traveling away from home reimbursed to an employee or deductible by an employee or self-employed individual. Rev. Proc. 2005-10 superseded.
This document changes the date of a public hearing on proposed regulations (REG-108524-00, 2005-23 I.R.B. 1209) relating to the circumstances under which a partnership may take partner-level deductions and losses into account in computing its withholding tax obligation with respect to a foreign partner's allocable share of effectively connected taxable income. The public hearing is rescheduled for November 16, 2005.
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