Internal Revenue Bulletin: 2005-43
October 24, 2005
Low-income housing credit; satisfactory bond; “bond factor” amounts for the period January through December 2005. This ruling provides the monthly bond factor amounts to be used by taxpayers who dispose of qualified low-income buildings or interests therein during the period January through December 2005.
Final regulations under section 864 of the Code relate to the application of the asset-use test to stock held by foreign insurance companies. The regulations provide that income from stock may, in some circumstances, be effectively connected income.
Proposed regulations under new section 409A of the Code, added as part of the American Jobs Creation Act of 2004, provide certain rules relating to nonqualified deferred compensation plans, which generally are effective as of January 1, 2005. These regulations provide general guidance with respect to what arrangements are covered by section 409A, and the requirements that must be met under section 409A with respect to initial deferral elections, subsequent deferral elections and payments. A public hearing is scheduled for January 25, 2006.
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