Internal Revenue Bulletin:  2007-9 

February 26, 2007 


Rev. Proc. 2007-21 Rev. Proc. 2007-21

This procedure provides guidance to persons against whom a penalty under section 6707 or 6707A of the Code is assessed, and who may request rescission of those penalties from the Commissioner if the violation is with respect to a reportable transaction other than a listed transaction. This procedure describes the procedures for requesting rescission, including the deadline by which a person must request rescission; the information the person must provide in the rescission request; the factors that weigh in favor and against granting rescission; where the person must submit the rescission request; and the rules governing requests for additional information from the person requesting rescission.

Announcement 2007-21 Announcement 2007-21

This document contains corrections to final regulations (T.D. 9276, 2006-37 I.R.B. 423) that provide for determining the amount of income tax withholding on supplemental wages. The regulations apply to all employers and others making supplemental wage payments to employees.

Announcement 2007-22 Announcement 2007-22

This document contains corrections to final regulations (T.D. 9263, 2006-25 I.R.B. 1063) relating to the deductions for income attributable to domestic production activities under section 199 of the Code.

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