Internal Revenue Bulletin:  2010-40 

October 4, 2010 

INCOME TAX


Rev. Rul. 2010-24 Rev. Rul. 2010-24

Federal rates; adjusted federal rates; adjusted federal long-term rate and the long-term exempt rate. For purposes of sections 382, 642, 1274, 1288, and other sections of the Code, tables set forth the rates for October 2010.

REG-119046-10 REG-119046-10

Proposed regulations under section 6012 of the Code allow the IRS to require corporations to file a schedule disclosing uncertain tax positions related to the tax return as required by the IRS. A public hearing is scheduled for October 15, 2010.

Notice 2010-54 Notice 2010-54

This notice provides rules relating to the availability of the production tax credit for refined coal. Notice 2009-90 superseded.

Notice 2010-62 Notice 2010-62

This notice provides interim guidance regarding the codification of the economic substance doctrine under section 7701(o) of the Code and the related amendments to the penalties under sections 6662, 6662A, 6664 and 6676 by the Health Care Education Reconciliation Act of 2010. Rev. Proc. 2010-3 modified.

Rev. Proc. 2010-31 Rev. Proc. 2010-31

This procedure provides safe harbors for determining the finality of foreign adoptions for purposes of the adoption credit and the exclusion for employer-provided assistance for qualified adoption expenses. The procedure applies to adoptions governed by the Hague Convention on Protection of Children and Co-operation in Respect of Intercountry Adoption.

Announcement 2010-60 Announcement 2010-60

This announcement withdraws proposed regulations published on September 10, 2003, in the Federal Register (REG-146893-02 and REG-115037-00) relating to the treatment of controlled services transactions under section 482 and the allocation of income from intangibles, in particular with respect to contributions by a controlled party to the value of an intangible that is owned by another controlled party. The IRS and Treasury Department are withdrawing these regulations because they have been superseded.


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