Internal Revenue Bulletin:  2013-45 

November 4, 2013 

INCOME TAX


REG–148812–11 REG–148812–11

These proposed regulations provide guidance on the recovery of overpayments of arbitrage rebate on tax-exempt bonds and other tax-advantaged bonds. Comments are requested by December 16, 2013. A public hearing is scheduled for February 5, 2014.

REG–148659–07 REG–148659–07

These proposed regulations amend existing regulations on the arbitrage restrictions under § 148 of the Code to address certain current market developments, simplify certain provisions, address certain technical issues, and make the regulations more administrable. These proposed regulations affect issuers of tax-exempt and other tax-advantaged bonds. Guidance is provided in the following areas: working capital financings, issue price, qualified hedges, temporary period exception to yield restriction, yield and valuation of investments, definition of tax-advantaged bonds, definition of issue, definition and treatment of grants, and transition provision for certain guarantee funds. Comments are requested by December 16, 2013. A public hearing is scheduled for February 5, 2014.

Notice 2013–62 Notice 2013–62

Extension of replacement period for livestock sold on account of drought. This notice explains the circumstances under which the 4-year replacement period under section 1033(e)(2) of the Code is extended for livestock sold on account of drought. The Appendix to this notice contains a list of the counties that experienced exceptional, extreme, or severe drought during the preceding 12-month period ending August 31, 2013. Taxpayers may use this list to determine if an extension is available.

Notice 2013–67 Notice 2013–67

This notice sets forth a process that allows manufacturers to certify to the Internal Revenue Service that a particular vehicle meets the requirements of § 30D(g) of the Code. Taxpayers purchasing such vehicles can rely on the domestic manufacturer’s (or, in the case of a foreign manufacturer, its domestic distributor’s) certification that both a particular make, model, and model year of vehicle qualifies as a 2- or 3-wheeled plug-in electric motor vehicle under § 30D(g), and the amount of the credit allowable with respect to the vehicle.


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