Internal Revenue Bulletin:  2010-5 

February 1, 2010 

INCOME TAX


Table of Contents

T.D. 9476 T.D. 9476

Final regulations under section 1561 of the Code provide guidance to corporations that are component members of a controlled group of corporations and to consolidated groups filing life-nonlife Federal income tax returns. The regulations also provide guidance to component members regarding the apportionment of tax benefit items and the amount and type of information they are required to submit with their returns.

REG-101896-09 REG-101896-09

Proposed regulations under section 6045 of the Code provide rules for stockbrokers regarding changes in the law that require them to report for certain sales the adjusted basis of the stock being sold and whether any gain or loss with respect to the sale is long-term or short-term. The regulations under section 1012 of the Code address changes in the law that alter how investors compute basis when averaging the basis of shares acquired at different prices and that expand the ability of investors to compute basis by averaging. The regulations under sections 6045A, 6045B, 6721, and 6722 of the Code address new reporting requirements imposed on issuers of securities for corporate actions that affect the securities’ basis and on brokers (including custodians and issuers of securities) for transfers of securities. A public hearing is scheduled for February 17, 2010. Rev. Rul. 67-436 obsoleted.


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