Internal Revenue Bulletin:  2010-42 

October 18, 2010 

INCOME TAX


REG-153340-09 REG-153340-09

Proposed regulations under section 6302 of the Code relate to Federal Tax Deposits (FTDs) by Electronic Funds Transfer (EFT) and provide rules requiring depositors to use EFT for all FTDs and eliminate rules regarding FTD coupons.

Rev. Proc. 2010-36 Rev. Proc. 2010-36

This procedure provides a safe harbor that treats certain damage resulting from corrosive drywall as a casualty loss and provides a formula for determining the amount of the loss. This procedure applies to any individual who pays to repair damage to his or her personal residence or household appliances that results from corrosive drywall.


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