Internal Revenue Bulletin: 2013-15
April 8, 2013
Table of Contents
Fringe benefits aircraft valuation formula. For purposes of section 1.61-21(g) of the Income Tax Regulations, relating to the rule for valuing non-commercial flights on employer-provided aircraft, the Standard Industry Fare Level (SIFL) cents-per-mile rates and terminal charge in effect for the first half of 2013 are set forth.
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 April 2013.
Final regulations under sections 1471 through 1474 of the Code, commonly known as FACTA, were added by the Hiring Incentives to Restore Employment Act of 2010, Pub. L. 111-147 (the HIRE Act). These sections generally require U.S. withholding agents to withhold tax on certain payments to a foreign financial institution (FFI) that has not agreed to provide the IRS with certain information regarding its United States accounts. These sections also require U.S. withholding agents to withhold tax on certain payments to a nonfinancial foreign entity (NFFE) that does not provide information about its substantial United States owners to withholding agents. These regulations provide guidance to persons making certain U.S.-related payments to FFIs and NFFE’s, and payments by FFIs to other persons. Notices 2010-60, 2011-34, and 2011-53 obsoleted. Announcement 2012-42 obsoleted.
This notice provides interim guidance relating to the allocation of the credit for increasing research activities to corporations and trades or businesses under common control for purposes of § 41(f)(1)(A)(ii) and § 41(f)(1)(B)(ii) of the Internal Revenue Code, as amended by section 301(c) of the American Taxpayer Relief Act of 2012, P.L. 112-240, for taxable years beginning after December 31, 2011.
This notice postpones until October 15, 2013, the deadline to make an election under section 165(i) of the Code to deduct in the preceding taxable year losses attributable to Hurricane Sandy sustained in federally declared disaster areas in Connecticut, Delaware, District of Columbia, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Virginia, and West Virginia resulting from Hurricane Sandy.
This notice invites public comment on recommendations for items that should be included on the 2013-2014 Guidance Priority List. The Guidance Priority List is used by the Treasury Department and the Service to identify and prioritize the tax issues that should be addressed through regulations, revenue rulings, revenue procedures, notices, and other published administrative guidance. The 2013-2014 Guidance Priority List will establish the guidance that the Treasury Department and the Service intend to prioritize for purposes of allocating resources from July 1, 2013, through June 30, 2014. Please submit comments by May 1, 2013.
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