IRS Pronouncements--2020


Small Business Taxes & ManagementTM--Copyright 2020, A/N Group, Inc.

Note. The list below contains a synopses of revenue rulings, revenue procedures, notices, announcements and regulations beginning with those issued January 1, 2020. Because the IRS is no longer indexing the contents of the bulletins as in the past, we have created two indicies--this one is a complete list of all pronouncements. For an abbreviated list that is limited to those items we believe to be of interest to small to mid-sized business owners, their advisors, CPAs, enrolled agents, etc, go to IRS Pronouncements--2020--Short List. Please note. Revenue Rulings, Procedures, etc. are not always released in strict numberical order. For a abbreviated, similar listing for prior years, go to:

IRS Pronouncements--2019
IRS Pronouncements--2018
IRS Pronouncements--2017
IRS Pronouncements--2016
IRS Pronouncements--2015
IRS Pronouncements--2014
IRS Pronouncements--2013
IRS Pronouncements--2012
IRS Pronouncements--2011
IRS Pronouncements--2010
IRS Pronouncements--2009
IRS Pronouncements--2008
IRS Pronouncements--2007
IRS Pronouncements--2006
IRS Pronouncements--2005
IRS Pronouncements--2004
IRS Pronouncements--2003
IRS Pronouncements--2002
IRS Pronouncements--2001
IRS Pronouncements--2000

We've included the IRB (Internal Revenue Bulletin) reference so you can find the full text on the IRS web site. We've tried to make the list as searchable as possible while keeping the descriptions short. Use the "find-in-page" or "find" feature of your browser (CTRL-F) to search this list. Be sure to try variations of keywords such as "activities" as well as "activity"; "depreciation" as well as "depreciate". The Applicable Federal Rate and interest rates on over- and underpayments are updated on our IRS Interest Rates page.

Notes.

For Revenue Rulings-- www.irs.gov/pub/irs-drop/rr-20-xx.pdf
For Revenue Procedures-- www.irs.gov/pub/irs-drop/rp-20-xx.pdf
For Notices-- www.irs.gov/pub/irs-drop/n-20-xx.pdf

The xx must be at least two digits. Thus, Revenue Ruling 5 for 2020 would be: www.irs.gov/pub/irs-drop/rr-20-05.pdf   For prior years, change the 20 to the appropriate year (available years vary).

New Additions - Bulletin 49

Rev. Proc. 2020-48 (IRB 2020-49) sEC. 832; 846; discount factors 2020 accident year; insurance companies; discounted unpaid losses.

T.D. 9930 (IRB 2020-49) Sec. 401; updated life expectancy and distribution period for determining minimum required distributions; qualified retirement plans; individual retirement accounts and annuities, certain other tax-favored employer-provided retirement arrangements.
T.D. 9929 (IRB 2020-49) Group health plans; health insurance issuers; disclosure of cost-sharing information to participant, beneficiary, or enrollee.
T.D. 9922 (IRB 2020-49) Sec. 951A; 965; TCJA; foreign income taxes; allocation and apportionment of expenses; hybrid deduction accounts; hybrid instruments; foreign tax credit rules.

REG-101657-20 (IRB 2020-49) Sec. 245A; foreign tax credit; dividends eligible for dividends-received deduction; allocation and apportionment of certain expenses..

Notice 2020-82 (IRB 2020-49) Contribution to single-employer defined benefit pension plans with extended due date of January 1, 2021 as timely if made no later than January 4, 2021.
Notice 2020-81 (IRB 2020-49) Corporate bond monthly yield curve November 2020; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2020-75 (IRB 2020-49) Sec. 164; S corporations and partnerships; deductibility of payments for certain state and local income taxes; non-separately stated income or loss.

For the full text of these rulings, go to Internal Revenue Bulletin 2020-49

 

NOTE!--When searching for references to the Coronavirus, use COVID-19 instead.

Cumulative Listings - 2020

Revenue Rulings

Rev. Rul. 2020-25 (IRB 2019-48) Sec. 995; base period T-bill rate; period ending September 30, 2020.
Rev. Rul. 2020-23 (IRB 2019-47) Sec. 403(b); terminated plan; distribution to an individual custodial account; inclusion in gross income.
Rev. Rul. 2020-24 (IRB 2019-45) Reporting and withholding obligations when payment is made from a qualified plan to a state unclaimed property fund.
Rev. Rul. 2020-22 (IRB 2019-45) Applicable federal rates; adjusted federal long-term rate; November, 2020.
Rev. Rul. 2020-21 (IRB 2019-41) Sec. 1.61-21(g); fringe benefits aircraft valuation formula; SIFL cents-per-mile rate; employer-provided aircraft; second half of 2020.
Rev. Rul. 2020-20 (IRB 2019-41) Applicable federal rates; adjusted federal long-term rate; October, 2020.
Rev. Rul. 2020-19 (IRB 2019-40) Sec. 807; life insurance reserves; what constitutes change in basis of computing.
Rev. Rul. 2020-18 (IRB 2019-39) Interest rates on underpayments and overpayments; quarter beginning October 1, 2020.
Rev. Rul. 2020-17 (IRB 2019-37) Sec. 2032A; special use value; farms; interest rates; 2020 interest rates.
Rev. Rul. 2020-16 (IRB 2019-37) Applicable federal rates; adjusted federal long-term rate; September.
Rev. Rul. 2020-15 (IRB 2019-32) Applicable federal rates; adjusted federal long-term rate; August, 2020.
Rev. Rul. 2020-14 (IRB 2019-28) Applicable federal rates; adjusted federal long-term rate; July, 2020; blended rate 2020.
Rev. Rul. 2020-13 (IRB 2019-26) Interest rates on underpayments and overpayments; quarter beginning July 1, 2020.
Rev. Rul. 2020-12 (IRB 2019-24) Applicable federal rates; adjusted federal long-term rate; June, 2020.
Rev. Rul. 2020-11 (IRB 2019-19) Applicable federal rates; adjusted federal long-term rate; May, 2020.
Rev. Rul. 2020-8 (IRB 2019-19) Sec. 6511; 10-year limitations period; claims of refund or overpayment resulting from foreign tax credit carryback arising as a result of a net operating loss carryback from a subsequent year; Rev. Rul. 71-533 suspended entirely; Rev. Rul. 68-150 suspended in party.
Rev. Rul. 2020-10 (IRB 2019-15) Sec. 1.61-21(g); fringe benefits aircraft valuation formula; SIFL cents-per-mile rate; employer-provided aircraft; first half of 2020.
Rev. Rul. 2020-9 (IRB 2019-15) Applicable federal rates; adjusted federal long-term rate; April, 2020.
Rev. Rul. 2020-7 (IRB 2019-12) Interest rates on underpayments and overpayments; quarter beginning April 1, 2020.
Rev. Rul. 2020-6 (IRB 2019-11) Applicable federal rates; adjusted federal long-term rate; March, 2020.
Rev. Rul. 2020-5 (IRB 2020-09) Sec. 1016; adjusted basis of an insurance contract not reduced by cost of insurance; Rev. Proc. 2009-13 and Rev. Rul. 20019-14 reversed; Tax Cuts and Jobs Act addition.
Rev. Rul. 2020-4 (IRB 2020-08) Sec. 42; computing income limits applicable to low-income housing credit; new minimum set-aside test; average income test.
Rev. Rul. 2020-3 (IRB 2020-07) Applicable federal rates; adjusted federal long-term rate; February, 2020
Rev. Rul. 2020-2 (IRB 2020-03) Sec. 401; tables of covered compensation; effective January 1, 2020.
Rev. Rul. 2020-1 (IRB 2019-03) Applicable federal rates; adjusted federal long-term rate; January, 2020.

 

Revenue Procedures

Rev. Proc. 2020-48 (IRB 2020-49) sEC. 832; 846; discount factors 2020 accident year; insurance companies; discounted unpaid losses.
Rev. Proc. 2020-50 (IRB 2020-48) Sec. 168; guidance on Reg. Sec. 1.168(k)-2 and !.1502-68; reliance on proposed regulations under Sec. 168(k)
Rev. Proc. 2020-49 (IRB 2020-48) Sec. 147; temporary guidance; public approval requirement; tax-exempt qualified private activity bonds; extension of time period to September 30, 2021; telephonic hearings; Rev. Proc. 2020-21.
Rev. Proc. 2020-47 (IRB 2020-48) Gaming Industry Tip Compliance Agreement; GITCA; extending expiration and renewal term of a GITCA from three to five years; Rev. Proc. 2001-32 modified.
Rev. Proc. 2020-45 (IRB 2020-46) Cost-of-living adjustments for 2021; inflation; individual tax rates; standard deduction; alternative minimum tax exemptions and phasehout; qualified transportation fringe; estate and gift taxes.
Rev. Proc. 2020-46 (IRB 2020-45) Sec. 402; rollover of eligible retirement plans; 60-day period; waiver; permissible reasons to self-certify; distribution to state unclaimed property fund; Rev. Proc. 2016-47 modified and updated.
Rev. Proc. 2020-44 (IRB 2020-45) LIBOR; London Interbank Offerred Rate; modification of certain contracts to accomodate phaseout of LIBOR.
Rev. Proc. 2020-43 (IRB 2020-45) Health reimbursement arrangement; account-based group health plans for plan years beginning after December 31, 2020; inflation adjusted maximum dollar amount.
Rev. Proc. 2020-42 (IRB 2020-41) Sec. 42; unused housing credit carryovers allocated to qualified states for calender 2020.
Rev. Proc. 2020-41 (IRB 2020-40) Sec. 842; domestic asset/liability percentages and domestic investment yields needed by foreign life insurance and prpoerty and liability insurance companies.
Rev. Proc. 2020-40 (IRB 2020-38) Discretionary amendment to qualified pre-approved plan or 403(b) pre-approved plan; timely adopted requirement; Rev. Proc. 2016-37 and 2019-39 amended.
Rev. Proc. 2020-39 (IRB 2020-36) Normalization issues arised or anticipated in ratemaking proceedings as a result of corporate tax rate decrease in TCJA.
Rev. Proc. 2020-38 (IRB 2020-36) Private printing of red-ink substitutes for 2020 Forms W-2 and W-3; Rev. Proc. 2019-28 superseded.
Rev. Proc. 2020-37 (IRB 2020-33) Sec. 280F; luxury automobiles; depreciation limitation; passenger automobiles (includes trucks and vans) first place in service in 2020; lease inclusion amount.
Rev. Proc. 2020-36 (IRB 2020-32) Sec. 36B; Applicable Percentage Table; calculation of individual's premium tax credit for 2021; required contribution percentage.
Rev. Proc. 2020-35 (IRB 2020-29) Private printing of red-ink substitute for 2020 revisions of certain information returns; Rev. Proc. 2019-24 superseded.
Rev. Proc. 2020-31 (IRB 2020-27) Substitute Form 941, Schedule B, Schedule, Schedule R, and Form 8974 rules and specifications; Rev. Proc. 2018-24 superseded.
Rev. Proc. 2020-16 (IRB 2020-27) Sec. 1391; extension of empowerment zone to December 31, 2020; State or local government; automatic procedure; procedure to decline extension.
Rev. Proc. 2020-34 (IRB 2020-26) Sec. 7701; 677; 1031; Temporary relief to trusts which are, or have tenants who are, experiencing financial hardship; COVID-19; modifications to mortgage loans and lease agreements; acceptance of additional cash contributions.
Rev. Proc. 2020-33 (IRB 2020-25) Sec. 143; qualified mortgage bonds; area median gross income figures; mortgage credit certificates.
Rev. Proc. 2020-32 (IRB 2020-24) Sec. 223; Health Savings Accounts; HSA; 2021 inflation adjusted amounts.
Rev. Proc. 2020-15 (IRB 2020-23) Sec. 6049; list of countries with which U.S. has an information exchange agreement; bank deposit interest; Rev. Proc. 2019-23 updated and superseded.
Rev. Proc. 2020-30 (IRB 2020-22) Sec. 1503; Form 8858; COVID-19; individuals may temporarily conduct activities in a foreign country that would not otherwise be conducted there.
Rev. Proc. 2020-21 (IRB 2020-22) Sec. 147; temporary guidance; public approval requirement for tax-exempt qualified private activity bonds; COVID-19.
Rev. Proc. 2020-19 (IRB 2020-22) Sec. 301; 305; real estate investment trusts; REITs; RIC; temporary reduction in minimum amount of cash that shareholders may receive to not less than 10 percent of total declared distribution; Rev. Proc. 2017-45 modified.
Rev. Proc. 2020-29 (IRB 2020-21) Temporary modification of Rev. Proc. 2020-1 to allow for the electronic submission of requests for letter rulings, closing agreements, determination letters, etc.
Rev. Proc. 2020-27 (IRB 2020-20) Sec. 911; foreign earned income exclusion; relief from bona fide residence test and physical presence test; COVID-19 health emergency; qualified individual.
Rev. Proc. 2020-20 (IRB 2020-20) Nonreident individuals; substantial presence test; COVID-19; medical condition exception to exclude up to 60 consecutive days spent in U.S.; claiming benefits under and income tax treaty.
Rev. Proc. 2020-28 (IRB 2020-19) Economic impact payments provided by CARES Act; tax return filing procedures for certain eligible individuals not otherwise required to file 2019 Federal income tax return.
Rev. Proc. 2020-25 (IRB 2020-19) Sec. 168; change of depreciation method; qualified improvement property; QIP; making of late election for certain years.
Rev. Proc. 2020-26 (IRB 2020-18) Tax qualification of certain securitization vehicles that hold mortgage loans for which borrowers have participated in forbearance programs from COVID-19 emergency; real estate mortgage investment conduits; REMICs.
Rev. Proc. 2020-24 (IRB 2020-18) Sec. 172; net operating losses; NOLs; carryback of losses arising in 2018, 2019, and 2020 back 5 preceding taxable years; election to waive or reduce carryback period; election with respect to income inclusion as a result of Sec. 965.
Rev. Proc. 2020-23 (IRB 2020-18) Sec. 6031; CARES Act; partnerships; relief for 2018 and 2019 centralized partnership audit regime under BBA Act of 2015; amendment of partnership returns; administrative adjustment request; AAR.
Rev. Proc. 2020-22 (IRB 2020-18) Sec. 163; interest limitation deduction; elections to be an electing real property or farming trade or business.
Rev. Proc. 2020-14 (IRB 2020-16) Sec. 911; earned income exclusion; waiver of time requirements for time in foreign country; countries added to waiver countries.
Rev. Proc. 2020-18 (IRB 2020-15) Sec. 25; 143; qualified mortgage bonds; mortgage credit certificates; nationwide average purchase price for residences; purchase price safe harbor.
Rev. Proc. 2020-17 (IRB 2020-12) Sec. 6048; reporting information requirements; exemption for certain U.S. individuals' transactions with, and ownership of, certain tax-favored foreign trusts exclusively for retirement and pension benefits or medical, disability, or educational benefits; request for abatement of penalties.
Rev. Proc. 2020-13 (IRB 2020-11) SEc. 263A; taxpayers in farming business; changes by Tax Cuts and Jobs Act; application to certain plants; qualification as a small business under Sec. 448 gross receipts test.
Rev. Proc. 2020-12 (IRB 2020-11) Sec. 45Q; safe harbor relating to allocation of credits for the sequestration of carbon oxide to partners in a partnership for purposes of Sec. 704(b).
Rev. Proc. 2020-8 (IRB 2020-8) Form 1023; application for recognition of exemption organization; Sec. 501; electronic submission process; Rev. Proc. 2020-5 modified.
Rev. Proc. 2020-11 (IRB 2020-6) Sec. 108; income from discharge of indebtedness; Federal or private student loans to finance; discharge not taxable for certain students where schools closed.
Rev. Proc. 2020-10 (IRB 2020-2) Qualified pension plans; requirement to obtain opinion letters once every six years; third amendment cycle; date amendment cycles begin.
Rev. Proc. 2020-9 (IRB 2020-2) Sec. 401; amendments which are treated as integral to a plan provision that fails to satisfy qualification requirements of Code; recent regulations under Sec. 401(k), 401(m); hardship distributions of elective deferrals; interim amendment for pre-approved plans.
Rev. Proc. 2020-7 (IRB 2020-1) Areas of IRC under jurisdiction of Associate Chief Counsel (International); IRS will not issue determination letters or letter rulings.
Rev. Proc. 2020-5 (IRB 2020-1) Procedures for issuing determination letters; issues under jurisdiction of Director, Exempt Organizations; EO; rulings and agreements; pension, profit-sharing, stock bonus, annuity, and employee stock ownership plans; private foundation status; Sec. 7428.
Rev. Proc. 2020-4 (IRB 2020-1) Revised procedures; determination letters and letter rulings issued by the Commissioner; Tax Exempt and Government Entities; Employee Plans Rulings and Agreements; Rev. Procs. 2019-4 superseded.
Rev. Proc. 2020-3 (IRB 2020-1) Revised list of areas where IRS will not issue letter rulings or determination letters; Corporate; Financial Institutions and Products; Income Tax and Accounting; Passthroughs and Special Industries; Procedure and Administration; Tax Exempt and Government Entities; Associate Chief Counsel; Rev. Proc. 2019-3 superseded.
Rev. Proc. 2020-2 (IRB 2020-1) Procedures for Technical advice memoranda; TAMS; taxpayer rights when field office requests TAMS; Rev. Proc. 2019-2 superseded.
Rev. Proc. 2020-1 (IRB 2020-1) Procedures for letter rulings and information letters; Associate Chief Counsel; Corporate; Financial Institutions and Products; Income Tax and Accounting; International; Passthroughs and Special Industries; Procedure and Administration; Tax Exempt and Government Entities; Rev. Proc. 2019-1 superseded.

 

Regulations

T.D. 9930 (IRB 2020-49) Sec. 401; updated life expectancy and distribution period for determining minimum required distributions; qualified retirement plans; individual retirement accounts and annuities, certain other tax-favored employer-provided retirement arrangements.
T.D. 9929 (IRB 2020-49) Group health plans; health insurance issuers; disclosure of cost-sharing information to participant, beneficiary, or enrollee.
T.D. 9922 (IRB 2020-49) Sec. 951A; 965; TCJA; foreign income taxes; allocation and apportionment of expenses; hybrid deduction accounts; hybrid instruments; foreign tax credit rules.
T.D. 9931 (IRB 2020-48) Preventive health care services; CARES Act; health insurance plans; coverage; COVID-19 immunizations.
T.D. 9919 (IRB 2020-48) nonresident aliens and foreign corporations; rules for determining amount of effectively connected gain or loss recognized from sale of partnership engaged in trade or business in the U.S.
T.D. 9927 (IRB 2020-47) Sec. 1502; update of regulations under Reg. Sec. 1.1502-21; reflect changes made to Sec. 172 by TCJA; consolidated returns.
T.D. 9914 (IRB 2020-46) Eligible terminated S corporations; distributions of money and after post-termination period; allocation of earnings and profits; C corporations that were formerly S corporations.
T.D. 9918 (IRB 2020-45) Sec. 67; deductions allowed to an estate or non-grantor trust not miscellaneous itemized deductions subject to suspension; costs paid in connection with the administration of an estate.
T.D. 9913 (IRB 2020-45) Sec. 152; definition of qualifying relative.
T.D. 9911 (IRB 2020-45) Life insurance reserves; conforming changes to other regulations; modified guaranteed contracts; TCJA changes.
T.D. 9924 (IRB 2020-44) Sec. 3401; 3402; income tax withholding from employee's pay; redesigned withholding allowance certificate; Form W-4.
T.D. 9910 (IRB 2020-44) Sec. 59A; 6031; base erosion and anti-abuse tax; payments maade to foreign parties.
T.D. 9920 (IRB 2020-43) Sec. 3405; income tax withholding on certain periodic retirement and annity payments; TCJA; plan administrators.
T.D. 9908 (IRB 2020-42) Sec. 267, 332, 367, 672, 863, 904, 958, 6049; ownership attribution through foreign entities as result of repeal of Sec. 958(b)(4); controlled foreign corporations.
T.D. 9915 (IRB 2020-41) Sec. 47; rehabilitation credit; allocation over 5-year period; TCJA changes.
T.D. 9905 (IRB 2020-40) Sec. 163; limitation on the deduction for business interest expense; calculation of limitation; definition of interest for limitation.
T.D. 9906 (IRB 2020-39) Sec. 468A; nuclear decommissioning costs; new issues.
T.D. 9907 (IRB 2020-38) Sec. 162, 164, 170; adoption of proposed regulations; clarifying changes.
T.D. 9904 (IRB 2020-34) Sec. 3111; 3221; Families First Coronavirus Response Act; CARES Act; reconciling advance payments of refundable employment tax credits; recapture of benefits.
T.D. 9902 (IRB 2020-33) Sec. 951A; 954; income subject to high rate of foreign tax; Subpart F income; U.S. shareholders of foreign corporations.
T.D. 9901 (IRB 2020-33) Sec. 250; 962; 1502; 6038; 6038A; deduction for Foreign-Derived Intangible Income; Global Intangible Low-Taxed Income; FDII; GILTI; computation in consolidated group.
T.D. 9903 (IRB 2020-32) PTINs; cost of providing; new cost $21 plus $14.95 payable directly to a third-party contractor.
T.D. 9900 (IRB 2020-30) Sec. 172; CARES Act; carryback provisions related to net operating losses; extension of carryback period.
T.D. 9899 (IRB 2020-29) Sec. 199A; 20 percent deduction of qualified business income; previously suspended losses included in qualified business income; regulated investment companies, split-interest trusts, charitable remainder trusts.
T.D. 9898 (IRB 2020-25) Sec. 503; 6033; information reporting requirements for exempt organizations; certain grants of reporting relief; Form 990 and 990-EZ.
T.D. 9897 (IRB 2020-23) Sec. 385; treatment of certain interests in coporations as stock or indebtedness.
T.D. 9896 (IRB 2020-18) Sec. 245; 267A; hybrid dividends and certain amounts paid or accrued in hybrid transactions or with hybrid entities; Secs. 1503; 6038; 6038A; 6038C; 7701.
T.D. 9895 (IRB 2020-15) Sec. 901; foreign taxes disqualfied for foreign tax credit; covered asset acquisitions that result in basis step-up.
T.D. 9893 (IRB 2020-9) Sec. 61; valuation of fringe benefits; employee personal use company car; maximum vehicle values for use with special valuation rule for autos; adoption of special valuation rule for 2018 and 2019.
T.D. 9892 (IRB 2020-8) Due dates and extensions of time to file certain tax returns and information returns; reflect statutory requirements; removal of a provision for electing large partnerships.
T.D. 9891 (IRB 2020-8) Sec. 721; transfers of appreciated property by U.S. persons to partnerships with related foreign partners; finalize REG-127203-15.
T.D. 9886 (IRB 2020-2) Sec. 512; calculation of unrelated business taxable income; UBTI; voluntary employees' beneficiary associations; VEBAs; supplement employee benefit trusts; SUBs.

 

Proposed Regulations

REG-101657-20 (IRB 2020-49) Sec. 245A; foreign tax credit; dividends eligible for dividends-received deduction; allocation and apportionment of certain expenses..
REG-122462-20 (IRB 2020-48) CARES Act; preventive health services; insurance coverage without cost sharing; COVID-19 immunizations.
REG-119890-18 (IRB 2020-47) Sec. 42; average income test; low-income housing tax credit.
REG-110059-20 (IRB 2020-42) Sec. 367, 954; ownership attribution through foreign entities; repeal of Section 958(b)(4); application of look-through rule to foreign corporations that are controlled foreign corporations.
REG-107911-18 (IRB 2020-40) Sec. 163; supplement to T.D. 9905; limitations with respect to pass-through entities; regulated investment companies; shareholders of controlled foreign corporation; real property development.
REG-116475-19 (IRB 2020-37) Sec. 402; changes made by TCJA; extended rollover period for qualified plan loan offset.
REG-132434-17 (IRB 2020-35) Sec. 7602; restrictions on non-governmental persons (contractors) to whom the IRS may provide books, papers, records or other data to assist the IRS.
REG-112042-19 (IRB 2020-34) Sec. 4271; 4261; excise taxes on amounts paid for transportation of persons by air; exemption for amounts paid for certain aircraft maintenance services; out-of-date regulations.
REG-132766-18 (IRB 2020-34) Sec. 263A; 448; 460; 471; simplification of application of tax account provisions; average annual gross receipts not in excess of $25 million; long-term contracts.
REG-111879-20 (IRB 2020-34) Sec. 3111; 3221; Families First Coronavirus Response Act; CARES Act; reconciling advance payments of refundable employment tax credits; recapture of benefits.
REG-127732-19 (IRB 2020-33) Sec. 951; 954; global intangible low-taxed income; GILTI; reporting provisions for foreign corporations.
REG-130081-19 (IRB 2020-32) Sec. 9815; Reg. Sec. 54.9815; additional flexibility for grandfathered group health plans; no loss of grandfathered status.
REG-123027-19 (IRB 2020-31) Sec. 42; low-income housing credit; compliance monitoring regulations; State or local housing credit agencies; relaxation of compliance monitoring sampling requirements.
REG-125716-18 (IRB 2020-30) Sec. 1502; changes made to Sec. 172; net operating loss; consolidated returns.
REG-117589-18 (IRB 2020-30) Sec. 1031; like-kind exchange; definition of real property; receipt of personal property incidental to real property exchange.
REG-112339-19 (IRB 2020-30) Sec. 45Q; credit for carbon oxide sequestration; tertiary injectant.
REG-119307-19 (IRB 2020-28) Sec. 274; elimination of deduction for certain transportation and commuting benefits provided by employers to employees in taxable years beginning after December 31, 2017; expenses that are nondeductible; exceptions.
REG-109755-19 (IRB 2020-26) Sec. 213; treatment of amounts paid for certain medical care arrangements; health care sharing ministries; certain government sponsored health care programs; deduction for amount paid as medical expenses.
REG-100320-20 (IRB 2020-25) Sec. 3405; income tax withholding on certain periodic retirement and annuity payments; Tax Cuts and Jobs Act; TCJA.
REG-124327-19 (IRB 2020-24) Sec. 47; guidance regarding allocation of rehabilitation credit over a 5-year period; coordination with other special rules for investment credit property.
REG-104591-18 (IRB 2020-23) Sec. 162; 6050X; deduction of certain fines, penalties, and other amounts; amounts paid or incurred to or at the direction of governments or governmental entities in relation to the violation of a law; TCJA.
REG-113295-18 (IRB 2020-22) Sec. 67; clarification of deductions allowed to an estate or non-grantor trust not miscellaneous itemized deductions subject to suspension; costs paid or incurred in connection with administration of estate or trust that would not be incurred but for the estate or trust; distribution deduction.
REG-106864-18 (IRB 2020-20) Sec. 511; exempt organizations; unrelated business income; more than one unrelated trade or business; calculation of taxable income from unrelated business activities; application to individual retirment accounts.
REG-117138-17 (IRB 2020-19) User fee on tax return preparers; PTIN number; costs recalculated; user fee reduced from $33 to $21 plus $14.95 third party contractor fee.
REG-106013-19 (IRB 2020-18) Sec. 245A; adjusting hybrid deduction accounts to take into account earnings and profits of a controlled foreign corporation included in income; conduit financing; multiple-party financing arrangements; Secs. 881; 951A; 7701.
REG-132529-17 (IRB 2020-17) Determining life insurance reserves; method of computing insurance reserves; reporting requirements.
REG-100814-19 (IRB 2020-12) Sec. 274; amendments by Tax Cuts and Jobs Act; elimination of deduction for expenditures related to entertainment, amusement, or recreation activities; whether an activity is entertainment.
REG-132741-17 (IRB 2020-10) Sec. 3401; 3402; conformation to changes made by Tax Cuts and Jobs Act; redesigned Form W-4; new computational procedures; employee withholding.
REG-125710-18 (IRB 2020-5) Sec. 382; portion of proposed rulemaking withdrawn; items of income and deduction included in calculation of built-in gains and losses; ownership changes.
REG-100956-19 (IRB 2020-4) Sec. 863; rules for determining source of income from sales of inventory produced in U.S. and sold without the U.S. or vice versa; sales of personal property sold by nonresident attributable to place of business in U.S.
REG-122180-18 (IRB 2020-3) Sec. 162; $1 million compensation limit for covered employee of publicly held corporation.
REG-107431-19 (IRB 2020-3) Sec. 162, 164, 170; proposed amendments to reflect current law; transfer to Sec. 170(c) entity for business purposes; safe harbor; payments for individuals who itemize contributions; benefits expected to be received by donor.

 

Notices

Notice 2020-82 (IRB 2020-49) Contribution to single-employer defined benefit pension plans with extended due date of January 1, 2021 as timely if made no later than January 4, 2021.
Notice 2020-81 (IRB 2020-49) Corporate bond monthly yield curve November 2020; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2020-75 (IRB 2020-49) Sec. 164; S corporations and partnerships; deductibility of payments for certain state and local income taxes; non-separately stated income or loss.
Notice 2020-50 (IRB 2020-47) Sec. 403(b); terminating plans; distribution of individual custodial account; spousal rights prvoisions; request for comments.
Notice 2020-76 (IRB 2020-47) Sec. 6055; 6056; extension for self-insuring employers, applicable large employers other providers of minimum essential coverage to furnish 2020 Form 1095-B and 1095-C.
Notice 2020-79 (IRB 2020-46) Sec. 415; dollar limitations on benefits and contributions under qualified retirement plans; pensions; IRAs; compensation; Roth; cost-of-living increase; inflation adjustments for 2021.
Notice 2020-77 (IRB 2020-45) Corporate bond monthly yield curve October 2020; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2020-70 (IRB 2020-43) Form 1040-NR; exemption from electronic filing removed; Notice 2011-26 modified; notice in IRS Publication 4146.
Notice 2020-74 (IRB 2020-41) Sec. 1033; replacement period for livestock sold on account of drought; 4-year replacement period; list of counties the experienced exceptional, extreme, or severe drought conditions; 12-month period ending August 31, 2020.
Notice 2020-73 (IRB 2020-41) Sec. 987; defer applicability of final regulations for one addtional year to taxable years beginning after December 7, 2021.
Notice 2020-72 (IRB 2020-40) Corporate bond monthly yield curve September 2020; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2020-71 (IRB 2020-40) Optional special per diem rates; 2020-2021 amounts; high-low substantiation amount; special transportation industry rate; list of high-cost localities.
Notice 2020-66 (IRB 2020-40) Medicaid coverage of COVID-19 testing and diagnostic services as minimum eseential coverage for purpose of the premiium tax credit; Sec. 36B; intent to amend Reg. Sec. 1.5000A.
Notice 2020-59 (IRB 2020-40) Sec. 163; proposed revenue procedure; real property trade or business; qualified residential living facility; safe harbor.
Notice 2020-69 (IRB 2020-39) IRS intends to issue regulations; Secs. 951, 951A as applicable to certain S corporations with accumulated earnings and profits; intent to issue regulations addressing treatment of qualified improvement property under alternative depreciation system; TCJA.
Notice 2020-68 (IRB 2020-38) Guidance on various provisions of SECURE Act of 2019 and Bipartisan American Minders Act of 2019.
Notice 2020-65 (IRB 2020-38) Sec. 7508A; expedited guidance; postpone the time for withholding and paying certain payroll taxes; Presidential Memorandum; taxes on wages paid between September 1, 2020 and December 31, 2020.
Notice 2020-64 (IRB 2020-36) Corporate bond monthly yield curve August 2020; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2020-60 (IRB 2020-36) Sec. 430; election of alternative minimum funding standards for defined benefit pension plans sponsored by community newspapers added by SECURE Act.
Notice 2020-63 (IRB 2020-35) Address for vehicle manufacturer for vehicle certifications and quarter reports; Notice 2006-09 and 2008-33 modified.
Notice 2020-62 (IRB 2020-35) Sec. 402; modification of two safe harbor explanations in Notice 2018-74 to be provided to eligible rollover distributons; changes made by SECURE Act.
Notice 2020-61 (IRB 2020-35) Sec. 436; single-employer defined benefit plans under sec. 3608 of CARES Act; 2020 payment requirement to be made by January 1, 2021.
Notice 2020-55 (IRB 2020-35) Federal excise tax filing and payment deadlines, and associated interest and penalties; sales of of sport fishing or archery equipment; filing for first quarter 2020 postpone to October 31, 2020.
Notice 2020-58 (IRB 2020-34) Sec. 47; relief from deadline; qualified rehabilitation expenditures; QRE; qualified rehabilitated building; QRB; placed in service.
Notice 2020-57 (IRB 2020-32) Corporate bond monthly yield curve July 2020; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2020-56 (IRB 2020-32) Sec. 501; hospital organizations required to meet the community health needs assessment; CHNA; further postponement to December 31, 2020; Notice 2020-23 amplified.
Notice 2020-54 (IRB 2020-31) Requirement to report qualified sick leave wages and qualified family leave wages paid under Families First Coronavirus Response Act; W-2 or separate statement; reporting for self-employed individuals; claiming qualified sick leave equivalent.
Notice 2020-53 (IRB 2020-30) Sec. 42; 142; 147; temporary relief; qualified low-income housing projects; qualified residential rental properties.
Notice 2020-52 (IRB 2020-29) Sec. 401(m); 401(k); mid-year amendment; safe harbor plan; highly compensated employees; reduction in contributions; COVID-19.
Notice 2020-51 (IRB 2020-29) Required minimum distributions for 2020; RMDs; CARES Act; rollover relief; 60-day rollover period extended to August 31, 2020; sample amendment; repayments to inherited IRAs.
Notice 2020-48 (IRB 2020-29) Expanded disaster relief; postponement until October 15, 2020 certain Federal excise tax filing and payment deadlines; sport fishing or archery equipment for the second quarter of 2020.
Notice 2020-50 (IRB 2020-28) Sec. 72; CARES Act; distributions from eligible retirement plans; COVID-19 related distributions; 10 percent additional tax; 3-year period for repayment to avoid inclusion in income; suspension of repayment of plan loans.
Notice 2020-49 (IRB 2020-27) Sec. 45D; due dates for making investments, making reinvestments, and expending amounts for construction of real property due to be performed on or after April 1, 2020 and before December 31, 2020 postponed until December 31, 2020.
Notice 2020-47 (IRB 2020-27) Comments requested on 2020-2021 Priority Guidance Plan.
Notice 2020-46 (IRB 2020-27) Income and employment tax treatment of cash payments made by employers under leave-based donation programs in aid of COVID-19 victims.
Notice 2020-45 (IRB 2020-27) Corporate bond monthly yield curve June 2020; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2020-43 (IRB 2020-27) Partners and certain other persons; reporting of capital accounts on Schedule K-1; partnership taxable years ending on or after December 31, 2020; methods of reporting limited.
Notice 2020-44 (IRB 2020-26) Sec. 4375; 4376; fee on insurers of specified health insurance policies and plan administrators; Patient Centered Outcomes Research Trust Fund; PCORTF.
Notice 2020-42 (IRB 2020-26) Sec. 401; qualified retirement plans; participants, beneficiaries, administrators; temporary relief from physical presence; witnessing of documents; facilitate distributions and plan loans; COVID-19; CARES Act.
Notice 2020-39 (IRB 2020-26) Sec. 7508A; qualified opportunity funds; QOF; COVID-19; certain relief provisions of Sec. 1400Z.
Notice 2020-41 (IRB 2020-25) Sec. 45; 48; beginning of construction; extension of Continuity Safe Harbor; COVID-19; production tax credit for renewable energy facilities; investment tax credit for energy property.
Notice 2020-40 (IRB 2020-25) Sec. 45Q; inflation adjustment factor; carbon oxide sequestration credit for calendar year 2020.
Notice 2020-33 (IRB 2020-25) Postponement of certain time-sensitive actions with respect to certain employment taxes, employee benefit plans, exempt organizations, and Coverdell education savings accounts; COVID-19 pandemic.
Notice 2020-38 (IRB 2020-23) Sec. 45; inflation adjustment factors; reference prices; used to determine the availability of renewable electricity production credit; refined coal credit; Indian coal production credit.
Notice 2020-37 (IRB 2020-23) Corporate bond monthly yield curve May 2020; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2020-33 (IRB 2020-22) Sec. 125; carryover amount 20 percent of maximum salary reduction amount; for 2020 carryover amount increased from $500 to $550.
Notice 2020-29 (IRB 2020-22) Sec. 125; cafeteria plans; COVID-19; flexibility; mid-year elections; during calendar year 2020; employer-sponsored health coverage; health Flexible Spending Arrangements; FSAs; dependent care assistance programs; increased flexibility with respect to grace periods to apply unused amounts; telehealth services.
Notice 2020-25 (IRB 2020-22) Sec. 103; 141 through 150; temporary expansion of circumstances and time periods; tax-exempt bond purchased by state or local governmental issuer treated as continuing in effect.
Notice 2020-36 (IRB 2020-21) Sec. 501; recognition of exemption from federal income tax; updated procedures; group basis for subordinate organizations affiliated with central organization.
Notice 2020-34 (IRB 2020-21) Sec. 45I; reference price for qualified natural gas production for qualified marginal wells.
Notice 2020-32 (IRB 2020-21) Loan forgiveness under CARES Act; guidance regarding nondeductibility of financed costs.
Notice 2020-31 (IRB 2020-19) Inflation adjustment factor and phase-out amount for enhanced oil recovery credit for taxable years beginning in 2020; 2019 calendar year price; phased out completely.
Notice 2020-30 (IRB 2020-19) Sec. 631A; applicable percentage for determining percentage deplection from marginal wells for 2020 is 15 percent.
Notice 2020-28 (IRB 2020-19) Sec. 43; 45; 45K; 631A; reference price; enhanced oil recovery credit; marginal well production credit for qualified crude oil production; percentage depletion from marginal wells.
Notice 2020-27 (IRB 2020-19) Corporate bond monthly yield curve April 2020; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2020-26 (IRB 2020-18) Sec. 6411; Net operating losses; NOLs; changes made by CARES Act; tentative carryback adjustment; taxable years beginning before calendar year 2018.
Notice 2020-23 (IRB 2020-18) Selected tax filings and payments delayed to July 15; specified time-sensitive actions also postponed; Notice 2020-18 and Notice 2020-20 amplified.
Notice 2020-22 (IRB 2020-17) Sec. 6302; failure to make a deposit of employment taxes; Families First Coronavirus Response Act; qualified sick leave; qualified family leaves wages; employment tax deposits in anticipation of credits.
Notice 2020-21 (IRB 2020-16) Sec. 3111; 3221; Families First Coronavirus Response Act; tax credits for qualified sick leave wages and qualified family leave wages; credit against employment taxes; certain self-employed individuals.
Notice 2020-20 (IRB 2020-16) Sec. 7508A; tax relief; due date for filing give and generation-skipping transfer tax returns due April 15; associated interest, penalties, and additions to tax for late payment suspended; Coronavirus Disease; Notice 2020-18 amplified.
Notice 2020-19 (IRB 2020-15) Notice 2004-20 withdrawn; listed transactions; Sec. 901 curtailed use of those transactions.
Notice 2020-18 (IRB 2020-15) Sec. 7508A; due date extensions for tax returns from April 15, 2020 to July 15, 2020; suspension of associated interest, additions to tas, late payment penalties; Notic 2020-17 superseded.
Notice 2020-17 (IRB 2020-15) Sec. 7508A; due date extensions for tax returns from April 15, 2020 to July 15, 2020; suspension of associated interest, additions to tas, late payment penalties.
Notice 2020-16 (IRB 2020-14) Corporate bond monthly yield curve March 2020; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2020-15 (IRB 2020-14) Sec. 223; high deductible health plan; HDHP; testing and treatment of COVID-19; satisfaction of applicable minimum deductible.
Notice 2020-14 (IRB 2020-13) 2020 Cumulative List of Changes in Plan Qualification Requirements for Pre-Approved Defined Benefit Plans; statutory and regulatory provisions issued between October 1, 2012 and December 31, 2019.
Notice 2020-13 (IRB 2020-11) Sec. 911; exclusion from gross income of foreign housing cost amount.
Notice 2020-12 (IRB 2020-11) Sec. 45Q; beginning of construction for the credit for carbon oxide sequestration; two methods to establish beginning of construction; physical work test and five-percent safe harbor.
Notice 2020-11 (IRB 2020-11) Corporate bond monthly yield curve February 2020; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2020-10 (IRB 2020-10) Sec. 42, 142, 146; state housing credit ceiling; private activity bond volume cap; private activity bond volume limit.
Notice 2020-9 (IRB 2020-7) Sec. 45 Indian coal production credit; inflation adjustment factor for 2018 and 2019.
Notice 2020-8 (IRB 2020-7) Sec. 6426; claim for credits and payments for biodiesel mixtures and alternative fuels sold in 2018 and 2019; instructions for claim.
Notice 2020-7 (IRB 2020-7) Corporate bond monthly yield curve January 2020; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2020-6 (IRB 2020-7) Reporting by financial institutions; notification to owners of IRAs; required minimum distribution; RMD; increase in age triggering RMD to 72.
Notice 2020-5 (IRB 2020-4) Sec. 61; standard mileage rates for 2020; cost of operating motor vehicle for business, charitable, medical or moving purposes; reduction to basis for deemed depreciation; maximum fair market value of employer-provided autos for personal use; fleet-average valuation rule; cents-per-mile valuation rule.
Notice 2020-4 (IRB 2020-4) Sec. 4081; temporary dyed fuel relief from Milwaukee or Madison terminals additional extension; Green Bay terminal.
Notice 2020-3 (IRB 2020-3) Sec. 3405; withholding from periodic payments for pensions, annuities, and certain other deferred income when no withholding certficate has been furnished.
Notice 2020-2 (IRB 2020-3) Sec. 871; delay of certain rules; extension of phase-in period in Notice 2018-72.
Notice 2020-1 (IRB 2020-2) Corporate bond monthly yield curve December 2019; Sec. 417; 430; interest rate on 30-year Treasury securities.

 

Announcements

Announcement 2020-19 (IRB 2020-47) Office of Professional Responsibility; OPR; disciplinary sanctions involving attorneys, certified public accountants, enrolled agents, enrolled actuaries, etc.
Announcement 2020-40 (IRB 2020-45) Hong Kong; termination of reciprocal agreement to exempt from income tax certain income; termination to take effect January 1, 2021.
Announcement 2020-12 (IRB 2020-41) PPP; paycheck protection program loans that are forgiven under CARES Act; lenders should not file information returns reporting forgiveness.
Announcement 2020-17 (IRB 2020-40) Sec. 4971; excise taxes; postpone until January 15, 2021 reporting and paying; minimum required contributions to single employer defined benefit plan.
Announcement 2020-16 (IRB 2020-38) Notice to donors; stipulated Tax Court decision under Sec. 7428.
Announcement 2020-15 (IRB 2020-38) Sec.501(c)(3); revocation of organizations for failure to meet code requirements; contributions no longer deductible.
Announcement 2020-14 (IRB 2020-36) User fee increase; certain requests for letter rulings and determination letters submitted to Employee Plans Rulings and Agreements.
Announcement 2020-13 (IRB 2020-35) U.S. and Switzerland; Competent Authority Arrangement; avoidance of double taxation; income taxes.
Announcement 2020-11 (IRB 2020-33) Corrections to T.D. 9900; Sec. 172; CARES Act; carryback provisions related to net operating losses; extension of carryback period.
Announcement 2020-10 (IRB 2020-33) United States-Mexico-Canada Agreement; USMCA; references to North American Free Trade Agreement; NAFTA; tax treaty United States and Switzerland.
Announcement 2020-9 (IRB 2020-32) Office of Professional Responsibility; OPR; disciplinary sanctions involving attorneys, certified public accountants, enrolled agents, enrolled actuaries, etc.
Announcement 2020-8 (IRB 2020-32) Amends Rev. Proc. 2020-35 to show correct information; substitute forms.
Announcement 2020-7 (IRB 2020-25) Qualified pre-approved plans; opinion letters; six-year remedial amendment cycles.
Announcement 2020-6 (IRB 2020-23) Interpretation of references to the North American Free Trade Agreement; NAFTA; replaced by Agreement between United States Canada and Mexico; USMCA; references to NAFTA interpreted as reference to USMCA.
Announcement 2020-5 (IRB 2020-19) Connecticut homeowners; financial assistance from Connecticut Foundation Solutions Indemnity Company; premature deterioration of concrete foundations; mineral pyrrhotite.
Announcement 2020-4 (IRB 2020-17) Public hearings on proposed rulemaking will be held telephonically; submit public comments electronically.
Announcement 2020-3 (IRB 2020-15) Office of Professional Responsibility; OPR; disciplinary sanctions involving attorneys, certified public accountants, enrolled agents, enrolled actuaries, etc.
Announcement 2020-2 (IRB 2020-15) Advance pricing agreements; APA; Advance Pricing and Mutual Agreement Program; APMA; report on experience, structure, and activities.
Announcement 2020-1 (IRB 2020-5) Sec.501(c)(3); revocation of organizations for failure to meet code requirements; contributions no longer deductible.

 

Action On Decision

Action on Decision 2020-3 (IRB 2020-17) Sec. 7811; acquiescence to the holding that the term “taxpayer” interpreted to include a wrongful-levy claimant. Nonacquiescence to the holding that suspends the running of the limitations periods for third-parties to file wrongful levy claims or suits. Rothkamm; (5th Cir. 2015).
Action on Decision 2020-2 (IRB 2020-14) Acquiescence in result only; medicaid waiver payments received as wages for care of taxpayer's disabled adult children in their own home; Feigh, 152 T.C. No. 15.
Action on Decision 2020-1 (IRB 2020-12) Nonacquiescence; Paychex Business Solutions, LLC et al.; bankrupt owner of employer who leased employees is responsible party.

 

       Links to Individual Bulletins

Internal Revenue Bulletin 2020-1        Internal Revenue Bulletin 2020-27
Internal Revenue Bulletin 2020-2        Internal Revenue Bulletin 2020-28
Internal Revenue Bulletin 2020-3        Internal Revenue Bulletin 2020-29
Internal Revenue Bulletin 2020-4        Internal Revenue Bulletin 2020-30
Internal Revenue Bulletin 2020-5        Internal Revenue Bulletin 2020-31
Internal Revenue Bulletin 2020-6        Internal Revenue Bulletin 2020-32
Internal Revenue Bulletin 2020-7        Internal Revenue Bulletin 2020-33
Internal Revenue Bulletin 2020-8        Internal Revenue Bulletin 2020-34
Internal Revenue Bulletin 2020-9        Internal Revenue Bulletin 2020-35
Internal Revenue Bulletin 2020-10      Internal Revenue Bulletin 2020-36
Internal Revenue Bulletin 2020-11      Internal Revenue Bulletin 2020-37
Internal Revenue Bulletin 2020-12      Internal Revenue Bulletin 2020-38
Internal Revenue Bulletin 2020-13      Internal Revenue Bulletin 2020-39
Internal Revenue Bulletin 2020-14      Internal Revenue Bulletin 2020-40
Internal Revenue Bulletin 2020-15      Internal Revenue Bulletin 2020-41
Internal Revenue Bulletin 2020-16      Internal Revenue Bulletin 2020-42
Internal Revenue Bulletin 2020-17      Internal Revenue Bulletin 2020-43
Internal Revenue Bulletin 2020-18      Internal Revenue Bulletin 2020-44
Internal Revenue Bulletin 2020-19      Internal Revenue Bulletin 2020-45
Internal Revenue Bulletin 2020-20      Internal Revenue Bulletin 2020-46
Internal Revenue Bulletin 2020-21      Internal Revenue Bulletin 2020-47
Internal Revenue Bulletin 2020-22      Internal Revenue Bulletin 2020-48
Internal Revenue Bulletin 2020-23      Internal Revenue Bulletin 2020-49
Internal Revenue Bulletin 2020-24
Internal Revenue Bulletin 2020-25
Internal Revenue Bulletin 2020-26

 


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--Last Update 11/28/20