Internal Revenue Bulletin: 2016-30
July 25, 2016
These proposed regulations (REG–109086–15) primarily address issues under section 36B of the Internal Revenue Code relating to the health insurance premium tax credit. The proposed regulations amend the computation of the premium tax credit for families with children who enroll in health coverage through Exchanges offering qualified health plans that do not provide pediatric dental benefits, and address information reporting by Exchanges and other issues. These proposed regulations also address the effect of employer opt-out arrangements on the affordability of employer-provided health coverage for purposes of the premium tax credit and the section 5000A individual shared responsibility provision.
This revenue procedure provides the procedures by which a taxpayer may obtain the automatic consent of the Commissioner to change to or from the net asset value method of accounting provided in section 1.446 –7 for gain or loss on shares in a money market fund.
These final regulations provide a permissible and simplified method of accounting for gains and losses on shares in money market funds. The final regulations also clarify that an exception to certain information reporting requirements applies to shares in all money market funds.
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