Internal Revenue Bulletin:  2004-7 

February 17, 2004 


Rev. Proc. 2004-14 Rev. Proc. 2004-14

This document provides procedures under which a corporation’s S status will not be terminated by a direct rollover of stock from its employee stock ownership plan (ESOP) to a participant’s individual retirement account (IRA). Rev. Proc. 2003-23 modified and superseded.

Announcement 2004-10 Announcement 2004-10

This document contains corrections to final and temporary regulations (T.D. 9048, 2003-1 C.B. 644) under section 1502 of the Code that redetermine the basis of stock of a subsidiary member of a consolidated group immediately prior to certain transfers of such stock and certain deconsolidations of a subsidiary member and also suspend certain losses recognized on the disposition of stock of a subsidiary member.

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