Internal Revenue Bulletin:  2012-23 

June 4, 2012 

INCOME TAX


Rev. Rul. 2012-15 Rev. Rul. 2012-15

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 June 2012.

T.D. 9588 T.D. 9588

Final regulations under section 163 of the Code provide rules on allocating prepaid qualified mortgage insurance premiums to determine the amount of the prepaid premium that is treated as qualified residence interest each taxable year.

T.D. 9589 T.D. 9589

Final, temporary, and proposed regulations under section 956 of the Code provide that certain obligations of United States persons arising from upfront payments made by controlled foreign corporations pursuant to contracts that are cleared by a derivatives clearing organization or clearing agency do not constitute United States property.

REG-107548-11 REG-107548-11

Final, temporary, and proposed regulations under section 956 of the Code provide that certain obligations of United States persons arising from upfront payments made by controlled foreign corporations pursuant to contracts that are cleared by a derivatives clearing organization or clearing agency do not constitute United States property.

REG-119632-11 REG-119632-11

Proposed regulations under section 6103 of the Code was enacted under the Patent Protection and Affordable Care Act, Public Law 111-48 (124 Stat. 119 (2010)) to permit the disclosure of return information in order to determine a taxpayer’s eligibility in certain health insurance affordability programs. In addition to items specifically enumerated in the statute, section 6103(1)(21)(A)(iv) permits the disclosure of items prescribed by the Secretary by regulation as might indicate whether the taxpayer is eligible for a tax credit under section 36B of the Code, or a cost-sharing reduction under section 1402 of the Affordable Act. The regulation contains detailing items of return information that may be disclosed under section 6101(1)(21). A public hearing is scheduled for August 31, 2012.


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