Internal Revenue Bulletin: 2009-16
April 20, 2009
Table of Contents
Qualifying gasification project program. This notice updates the procedures for the allocation of credits for the qualifying gasification project program of section 48B of the Code and announces a beginning of an allocation round of credits for qualifying gasification projects. Notice 2007-53 clarified, modified, and amplified.
Qualifying advanced coal project program. This notice updates the procedures for the allocation of credits for the qualifying advanced coal project program under section 48A of the Code. The notice also announces the beginning of an allocation round of credits in the amount of $1.25 billion for qualifying advanced coal-based generation technology projects under Phase II of the qualifying advanced coal project program. Notice 2007-52 clarified, modified, and amplified.
This notice provides guidance on the new Build America Bonds under § 54AA of the Code and the modified Build America Bond program for Recovery Zone Economic Development Bonds under § 1400U-2 of the Code. The notice also includes guidance on the initial refundable credit payment procedures, required elections, and information reporting for these bonds. The notice also solicits public comments on the refundable credit payment procedures.
This notice sets forth the maximum face amount of qualified energy conservation bonds (“QECBs”) that may be issued by each state and large local government under section 54D(e)(1) of the Code. The notice also provides limited regulatory guidance for QECBs.
This notice sets forth the maximum face amount of Qualified Zone Academy Bonds (“QZABs”) that may be issued for each state for each of the calendar years 2008 and 2009 under section 54E(c)(2) of the Code. This notice also provides certain interim guidance for QZABs issued after October 3, 2008.
Changes to cost-of-living adjustments for 2008 and 2009. This procedure reflects statutory amendments made by the Tax Extenders and Alternative Minimum Tax Relief Act of 2008 and the American Recovery and Reinvestment Tax Act of 2009. The Acts establish amounts that are to be used in certain sections of the Code in lieu of amounts that are adjusted annually for inflation. Parts of Rev. Procs. 2007-66 and 2008-66 modified and superseded.
This procedure provides guidance to individuals who fail to meet the eligibility requirements of section 911(d)(1) of the Code because adverse conditions in a foreign country preclude the individual from meeting those requirements. A current list of countries for tax year 2008 and the dates those countries are subject to the section 911(d)(4) waiver is provided.
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