Internal Revenue Bulletin: 2012-20
May 14, 2012
Final regulations under section 6049 of the Code provide guidance regarding the reporting requirements for interest paid to the U.S. accounts of certain nonresident alien individuals. The reporting required by these final regulations will support the U.S. government’s efforts to combat offshore tax evasion.
This notice requests comments on information reporting under section 6055 of the Code by health insurance issuers, government agencies, employers that sponsor self-insured plans, and other persons that provide minimum essential coverage to an individual.
This notice invites comments on reporting under section 6056 of the Code by applicable large employers (as defined in section 4980H(c)(2)) that are subject to section 4980H. Section 6056 requires reporting of certain information on employer-provided health care coverage provided on or after January 1, 2014. The notice also advises the public that the Treasury and IRS intend to propose regulations implementing section 6056 and invites comments on issues arising under section 6056, including on possible approaches for coordinating and minimizing duplication between the information required to be reported and furnished by employers under section 6056 and information required to be reported and/or furnished by employers or other persons under other applicable Code provisions.
This procedure provides guidance for implementing final regulations under section 6049 of the Code. The procedure contains two lists of countries with which the IRS has an income tax or other convention or bilateral agreement relating to the exchange of information for tax administration purposes.
This procedure provides issuers of qualified mortgage bonds (QMBs) and qualified mortgage credit certificates (MCCs) with average area purchase price safe harbors for statistical areas in the United States and with a nationwide average purchase price for residences in the United States for purposes of the QMB rules under section 143 of the Code and the MCC rules under section 25. Rev. Proc. 2011-23 obsoleted in part.
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