Internal Revenue Bulletin:  2010-44 

November 1, 2010 

INCOME TAX


Rev. Rul. 2010-25 Rev. Rul. 2010-25

Limitations on qualified residence interest. This ruling holds that indebtedness in excess of $1 million that a taxpayer incurs to acquire, construct, or substantially improve a qualified residence may constitute home equity indebtedness within the meaning of section 163(h)(3)(C) of the Code.

Rev. Rul. 2010-26 Rev. Rul. 2010-26

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 November 2010.

T.D. 9497 T.D. 9497

Temporary and proposed regulations under section 108(i) of the Code provide guidance to C corporations regarding the acceleration of deferred COD income and deferred OID deductions including special rules for members of consolidated groups. In addition, these regulations provide rules applicable to all taxpayers regarding deferred OID deductions.

REG-142800-09 REG-142800-09

Temporary and proposed regulations under section 108(i) of the Code provide guidance to C corporations regarding the acceleration of deferred COD income and deferred OID deductions including special rules for members of consolidated groups. In addition, these regulations provide rules applicable to all taxpayers regarding deferred OID deductions.


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