Internal Revenue Bulletin: 2010-16
April 19, 2010
Proposed regulations under section 6109 of the Code provide guidance to tax return preparers on furnishing an identifying number on tax returns and claims for refund of tax.
2009 nonconventional source fuel credit, section 45K inflation adjustment factor, and section 45K reference price. The notice announces the inflation adjustment factor, the reference price, and the credit amount for the nonconventional source fuel credit for coke or coke gas (other than from petroleum based products) for the 2009 calendar year.
This notice extends to taxable years that begin before January 1, 2010, the interim guidance provided in Notice 2008-116, 2008-52 I.R.B. 1372, and Notice 2008-32, 2008-1 C.B. 593, on the treatment under section 67 of the Code of investment advisory costs and other costs subject to the 2-percent floor under section 67(a) that are integrated as part of one commission or fee paid to a trustee or executor and are incurred by a trust other than a grantor trust or an estate. Notice 2008-116 modified and superseded.
This document informs the public that Treasury and the Service will provide guidance on the implementation of FATCA. On March 18, 2010, the Hiring Incentives to Restore Employment (HIRE) Act of 2010, Pub. L. 111-147 (H.R. 2847) was enacted including FATCA, which makes a number of changes to the tax law affecting foreign account tax compliance. Treasury and the IRS are soliciting comments from the public to consider while drafting guidance projects.
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