Internal Revenue Bulletin: 2007-2
January 8, 2007
Final regulations under section 6011 of the Code eliminate regulatory obstacles to the electronic filing of certain business income tax returns and other forms. Requiring signatures on attachments to a tax return, for example, can impede a taxpayer’s ability to file the return electronically. The regulations provide that in a number of situations, the signature on a taxpayer’s return covers attachments to that return.
This procedure provides the maximum vehicle values using the special valuation rules under sections 1.61-21(d) and (e) of the regulations. These values are indexed for inflation and must be adjusted annually by referring to the Consumer Price Index (CPI).
This document cancels a public hearing on proposed regulations (REG-142270-05, 2006-43 I.R.B. 791) relating to the railroad track maintenance credit determined for qualified railroad track maintenance expenditures paid or incurred by a Class II or Class III railroad and other eligible taxpayers during the taxable year.
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