Internal Revenue Bulletin:  2010-4 

January 25, 2010 

INCOME TAX


Rev. Rul. 2010-4 Rev. Rul. 2010-4

Section 7216—Disclosure or use of information by preparers of returns. This ruling provides guidance on whether a tax return preparer is liable for criminal and civil penalties under sections 7216 and 6713 of the Code when the tax return preparer discloses or uses tax return information in certain circumstances in communicating with taxpayers and in certain other circumstances.

Rev. Rul. 2010-5 Rev. Rul. 2010-5

Section 7216—Disclosure or use of information by preparers of returns. This ruling provides guidance on whether a tax return preparer is liable for criminal and civil penalties under sections 7216 and 6713 of the Code when the tax return preparer discloses or uses tax return information under certain circumstances in connection with professional liability insurance.

T.D. 9474 T.D. 9474

Final regulations under 26 CFR Part 1 provide rules relating to the reduction in taxable income for housing displaced individuals under the Katrina Emergency Tax Relief Act of 2005 and the Heartland Disaster Tax Relief Act of 2008.

T.D. 9475 T.D. 9475

Final regulations under section 368 of the Code provide guidance regarding the qualification of certain transactions as reorganizations described in section 368(a)(1)(D) where no stock and/or securities of the acquiring corporation is issued and distributed in the transaction.

T.D. 9478 T.D. 9478

Final, temporary, and proposed regulations under section 7216 of the Code provide rules relating to the disclosure and use of tax return information by tax return preparers. Notice 2009-13 obsoleted.

REG-131028-09 REG-131028-09

Final, temporary, and proposed regulations under section 7216 of the Code provide rules relating to the disclosure and use of tax return information by tax return preparers. Notice 2009-13 obsoleted.

Notice 2010-11 Notice 2010-11

This notice extends the suspension of the applicability of section 163(e)(5) of the Code for certain applicable high yield discount obligations to December 31, 2010.

Notice 2010-12 Notice 2010-12

This notice extends the application of Notice 2008-91, which describes an elective exclusion from the definition of “obligation” for purposes of section 956(c) of the Code, to the last taxable year of the CFC that immediately follows the last taxable year of the CFC to which the regulations described in Notice 2008-91 could apply. This notice also extends the application of Rev. Proc. 2008-26, which applies to determine whether securities are “readily marketable” for purposes of section 956(c)(2)(J), for an additional year (2010).

Notice 2010-13 Notice 2010-13

This notice provides procedures for corporations, electing small business corporations, and organizations required to file returns under section 6033 to request a waiver of the requirement to electronically file Form 1120, U.S. Corporation Income Tax Return; Form 1120-F, U.S. Income Tax Return of a Foreign Corporation; Form 1120S, U.S. Income Tax Return for an S Corporation; Form 990, Return of Organization Exempt From Income Tax; Form 990-PF, Return of Private Foundation or Section 4947(a)(1) Nonexempt Charitable Trust Treated as a Private Foundation; and returns, amended returns, and superseding returns in the Form 1120 and 990 series of returns when required by regulations and IRS publications. Notice 2005-88 superseded.

Rev. Proc. 2010-13 Rev. Proc. 2010-13

This procedure requires taxpayers to report to the Service their groupings and regroupings of activities and the addition of specific activities within their existing groupings of activities for purposes of section 469 of the Code and section 1.469-4 of the Income Tax Regulations.


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