Internal Revenue Bulletin: 2013-3
January 14, 2013
Table of Contents
Final regulations under section 181 of the Code provide rules to reflect the amendments to section 181 made by the Tax Extenders and Alternative Minimum Tax Relief Act of 2008. Section 181 allows producers to deduct the first $15 million ($20 million in certain cases) of the costs of producing qualified film and television productions.
Final regulations that provide rules under section 7216 of the Code relating to the disclosure or use of tax return information by tax return preparers.
Proposed regulations that will provide comprehensive guidance for the award program authorized under section 7623 of the Code, as amended.
This procedure under section 7216 of the Code provides guidance, pursuant to section 301.7216-3 of the Regulations on Procedure and Administration, to tax return preparers regarding the format and content of taxpayer consents to disclose and consents to use tax return information with respect to taxpayers filing a return in the Form 1040 series. Rev. Proc. 2008-35 modified and superseded.
This document contains corrections to a notice of proposed rulemaking (REG-140668-07, 2013-43 I.R.B. 501) that was published in the Federal Register on Monday, September 17, 2012 (77 FR 57452). The proposed regulation provides guidance regarding the treatment of corporate equity reduction transactions (CERTs), including the treatment of multiple step plans for the acquisition of stock and CERTs involving members of a consolidated group.
This document amends temporary regulations (T.D. 9564, 2012-14 I.R.B. 614) regarding the deduction and capitalization of expenditures under sections 162(a) and 263(a) of the Code relating to tangible property to apply to taxable years beginning on or after January 1, 2014, while permitting taxpayers to apply the temporary regulations for taxable years beginning on or after January 1, 2012, and before applicability date of the final regulations.
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