Internal Revenue Bulletin: 2007-39
September 24, 2007
Table of Contents
This document removes the temporary regulations pertaining to benefits that may be offered to participants under a section 125 cafeteria plan. The temporary regulations were published in the Federal Register on February 4, 1986. Guidance issued by the IRS and the Treasury Department under section 125 have made these temporary regulations obsolete.
On February 4, 1986, the IRS and Treasury Department published temporary regulations on section 125. The temporary regulations were published in the Federal Register (T.D. 8073, 1986-1 C.B. 45 [51 FR 4318]) as section 1.125-2T. A notice of proposed rulemaking issued under section 125 (REG-142695-05, this Bulletin) and other guidance issued by the IRS and the Treasury Department under section 125 have made these temporary regulations obsolete. The temporary regulations are removed.
It has been determined that this removal of temporary regulations is not a significant regulatory action as defined in Executive Order 12866. Therefore, a regulatory assessment is not required. It also has been determined that section 553(b) of the Administrative Procedure Act (5 U.S.C. chapter 5) does not apply to this removal of temporary regulations. This removal of temporary regulations does not impose a collection of information on small entities, thus the Regulatory Flexibility Act (5 U.S.C. chapter 6) does not apply. Pursuant to section 7805(f) of the Code, the preceding temporary regulations were submitted to the Chief Counsel for Advocacy of the Small Business Administration for comment on its impact on small business.
Accordingly, 26 CFR part 1 is amended as follows:
Paragraph 1. The authority citation for part 1 continues to read in part, as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.125-2T is removed.
Kevin M. Brown,
Deputy Commissioner for
Services and Enforcement.
Approved July 24, 2007.
Assistant Secretary of
the Treasury (Tax Policy).
(Filed by the Office of the Federal Register on July 31, 2007, 8:45 a.m., and published in the issue of the Federal Register for August 1, 2007, 72 F.R. 41891)
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