Small Business Taxes & Management

IRS Pronouncements--2000

Small Business Taxes & Management--Copyright 2000-2001, A/N Group, Inc.

The list below contains a synopses of revenue rulings, revenue procedures, notices, announcements and regulations issued during, 2000. The list is limited to those items we believe to be of interest to small to mid-sized businesses, their advisors, CPAs, etc. 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 feature of your browser to search this list. You can download any Bulletin at the IRS website. The Applicable Federal Rate and interest rates on over- and underpayments is updated on our IRS Interest Rates page or, for more details go to the IRS AFR page



Revenue Rulings

Rev. Rul. 2000-56 (IRB 2000-52) Sec. 7872(g), inflation adjustment, below-market loans, continuing care facility, imputed interest.
Rev. Rul. 2000-55 (IRB 2000-52) Sec. 1274A, inflation adjusted amounts.
Rev. Rul. 2000-58 (IRB 2000-50) LIFO price indexes; department stores; October 2000.
Rev. Rul. 2000-57 (IRB 2000-50) Interest rates on under- and overpayments, 1st Q. 2001.
Rev. Rul. 2000-53 (IRB 2000-47) Covered compensation tables for 2001; Sec. 401.
Rev. Rul. 2000-51 (IRB 2000-46) LIFO price indexes; department stores; September 2000.
Rev. Rul. 2000-49 (IRB 2000-44) Notice and reporting requirements, Sec. 527 organizations.
Rev. Rul. 2000-45 (IRB 2000-41) LIFO price indexes; department stores; August 2000.
Rev. Rul. 2000-44 (IRB 2000-41) Transactions between partner and partnership; Secs. 381(a) and 707; disguised sale.
Rev. Rul. 2000-43 (IRB 2000-41) Charitable contributions of accrual-basis S corporations.
Rev. Rul. 2000-42 (IRB 2000-39) Interest rates on under- and overpayments for quarter beginning October 1, 2000.
Rev. Rul. 2000-36 (IRB 2000-31) Qualified plans, default rollover, involuntary cash-out, Sec. 401(a)(31).
Rev. Rul. 2000-35 (IRB 2000-31) Sec. 403(b) plans, automatic deferral of employee's wages considered elective.
Rev. Rul. 2000-33 (IRB 2000-31) Cash or deferred arrangements, 401(k), automatic deferral of employee's wages.
Rev. Rul. 2000-30 (IRB 2000-25) Interest rates on under- and overpayments for quarter beginning July 1, 2000.
Rev. Rul. 2000-26 (IRB 2000-22) Special use value; farms; interest rates; estate tax; Sec. 2032A.
Rev. Rul. 2000-27 (IRB 2000-21) Qualified cash or deferred arrangements; separation from service; 401(k).
Rev. Rul. 2000-25 (IRB 2000-20) LIFO price indexes; department stores.
Rev. Rul. 2000-24 (IRB 2000-19) Medical expenses, deduction for trips to medical conferences for individuals.
Rev. Rul. 2000-18 (IRB 2000-14) Recapture of gain on disposition of qualified replacement property by a partnership, Sec. 1042.
Rev. Rul. 2000-15 (IRB 2000-12) Election for losses attributable to a disaster.
Rev. Rul. 2000-12 (IRB 2000-11) Treatment of certain debt instruments (offsetting movements).
Rev. Rul. 2000-7 (IRB 2000-9) Sec. 263, 263A, retirement and removal costs of depreciable asset.
Rev. Rul. 2000-8 (IRB 2000-7) 401(k), Cash or deferred arrangements, elective deferrals.
Rev. Rul. 2000-5 (IRB 2000-5) Statutory merger not qualified under Sec. 368 if target remains in existence.
Rev. Rul. 2000-4 (IRB 2000-4) Business expenses, deductibility of ISO 9000 costs.
Rev. Rul. 2000-2 (IRB 2000-3) Qualified terminable interest (QTIP) elections.


Revenue Procedures

Rev. Proc. 2000-50 (IRB 2000-52) Sec. 167(f)(1); Sec. 197; computer software expenditures.
Rev. Proc. 2000-48 (IRB 2000-49) Standard mileage rate for 2001; substantiating automobile expenses.
Rev. Proc. 2000-49 (IRB 2000-47) Specifications, electronic or magnetic filing, Form 8027; Rev. Proc. 99-46 superseded.
Rev. Proc. 2000-46 (IRB 2000-44) Rulings, nonissuance, undivided fractional interest, real property, partnership.
Rev. Proc. 2000-43 (IRB 2000-43) Guidance to taxpayers about ex parte communication during the appeals process.
Rev. Proc. 2000-42 (IRB 2000-43) Closing agreement information under Sec. 1.1503 to prevent recapture of dual consolidated losses.
Rev. Proc. 2000-41 (IRB 2000-42) Qualified defined benefit plan, change in funding method, procedure to obtain approval.
Rev. Proc. 2000-40 (IRB 2000-42) Minimum funding standards, automatic change in funding method.
Rev. Proc. 2000-39 (IRB 2000-41) Per diem allowances.
Rev. Proc. 2000-37 (IRB 2000-40) Sec. 1031, like-kind exchanges, replacement property, parking arrangements.
Rev. Proc. 2000-36 (IRB 2000-37) Low-income housing credit; unused credit carryover amounts.
Rev. Proc. 2000-33 (IRB 2000-36) Sec. 108, acquisition of corporate debt, related party, decedent creditor's estate.
Rev. Proc. 2000-35 (IRB 2000-35) Sec. 1445, withholding certificate, disposition of U.S. real property interests by foreign persons.
Rev. Proc. 2000-34 (IRB 2000-34) Procedure for adequately disclosing information if not initially submitted with a gift tax return filed for year gift made.
Rev. Proc. 2000-30 (IRB 2000-28) Gross income; de minimis premiums provided depositors.
Rev. Proc. 2000-29 (IRB 2000-28) Election for debt substitutions as realization event; Rev. Rul. 99-18 modified.
Rev. Proc. 2000-27 (IRB 2000-26) Qualified plans; determination letters; remedial amendment period.
Rev. Proc. 2000-26 (IRB 2000-24) Interest netting for interest accruing on or after October 1, 1998.
Rev. Proc. 2000-25 (IRB 2000-21) Magnetic media; electronic filing; 2000 form specifications.
Rev. Proc. 2000-22 (IRB 2000-20) Accounting methods, inventory, small taxpayers can use cash method.
Rev. Proc. 2000-18 (IRB 2000-9)  Sec. 1.61-21(e), lease inclusion tables.
Rev. Proc. 2000-20 (IRB 2000-6)  Master and prototype plans.
Rev. Proc. 2000-16 (IRB 2000-6)  Closing agreements, VCR (Voluntary Correction Program).
Rev. Proc. 2000-15 (IRB 2000-5)  Innocent spouse and equitable relief.
Rev. Proc. 2000-11 (IRB 2000-3)  Automatic consent for changes in accounting periods.
Rev. Proc. 2000-9 (IRB 2000-2)  Per diem allowances.
Rev. Proc. 2000-3 (IRB 2000-1)  Areas on which advanced rulings will not be issued.
Rev. Proc. 2000-1 (IRB 2000-1)  Revised procedures for issuing letter rulings and determination letters.
Rev. Proc. 2000-8 (IRB 2000-1)  User fees for employee plans and exempt organizations.
Rev. Proc. 2000-6 (IRB 2000-1)  Revised procedures for issuing determination letters on qualified status on employee plans.
Rev. Proc. 2000-5 (IRB 2000-1)  Revised procedures for obtaining technical advice on employee plans.
Rev. Proc. 2000-4 (IRB 2000-1)  Revised procedures for furnishing ruling letters on employee plans.



T.D. 8909 (IRB 2000-52) Sec. 6302, deposit of federal employment taxes.
T.D. 8907 (IRB 2000-49) Sec. 197, amortization of intangibles; partnership basis adjustments.
T.D. 8906 (IRB 2000-46) Sec. 752, final regulations relating to allocation of nonrecourse liabilities of partnership.
T.D. 8905 (IRB 2000-44) Sec. 6695(g), preparer due diligence for earned income credit.
T.D. 8904 (IRB 2000-42) Sec. 351, 354, 355, 356, 1036, definition of nonqualified preferred stock received by shareholders in certain reorganizations and distributions.
T.D. 8903 (IRB 2000-42) Sec. 1397E, qualified zone academy bonds.
T.D. 8902 (IRB 2000-41) Sec. 1250, look through provisions for capital gains of partnerships and S corporations.
T.D. 8895 (IRB 2000-40) Sec. 6071, extension of due date for information returns electronically filed from last day of February to March 31; Sec. 6651 failure to pay penalty reduced to 0.25% (from 0.5) while installment agreement in effect.
T.D. 8899 (IRB 2000-38) Sec. 2702, definition of qualified interest.
T.D. 8900 (IRB 2000-38) Sec. 411, amendment for qualified defined contribution plans; account balance plans; transfers between defined contribution plans.
T.D. 8901 (IRB 2000-38) Sec. 110, exclusion for qualified lessee construction allowances for constructing long-lived property to be used by lessee.
T.D. 8898 (IRB 2000-38) Sec. 368, continuity of interest requirement for certain corporate reorganizations.
T.D. 8897 (IRB 2000-36) Sec. 263A, UNICAP rules related to property produced in business of farming.
T.D. 8894 (IRB 2000-33) Sec. 72(p), loans from qualified employer plans to plan participants or beneficiaries.
T.D. 8891 (IRB 2000-32) Sec. 411, 417, increase from $3,500 to $5,000 limit on distributions from qualified plans without participant or spousal consent.
T.D. 8893 (IRB 2000-31) Sec. 6695, return preparers requirement for retaining copy of return.
T.D. 8890 (IRB 2000-30) Sec. 671, definition of the word grantor for determining who is the grantor of a trust.
T.D. 8886 (IRB 2000-27) Sec. 7520, use of actuarial tables in valuing annuities, interests for life, and remainder or reversionary interests.
T.D. 8885 (IRB 2000-25) Sec. 368(a)(1)(C), reorganization, solely for voting stock requirement, Rev. Rul. 54-396 obsoleted.
T.D. 8884 (IRB 2000-24) Sec. 1502, credits of corporations that become members of a consolidated group.
T.D. 8883 (IRB 2000-23) Sec. 1032, treatment of disposition by corporation or partnership of stock in a corporation.
T.D. 8882 (IRB 2000-23) Sec. 356, nonqualified preferred stock and rights to acquire nonqualified preferred stock.
T.D. 8880 (IRB 2000-20) Sec. 401(a)(31), disqualification of retirement plan that inadvertently accepts and invalid rollover contribution.
T.D. 8878 (IRB 2000-15) Sec. 125, tax treatment of cafeteria plans.
T.D. 8873 (IRB 2000-9)  Notices to qualified plan participants using electronic means.
T.D. 8865 (IRB 2000-7)  Sec. 167(f) and 197, amortization of goodwill and other intangibles.
T.D. 8864 (IRB 2000-7)  Final and temporary regs., Sec. 274, substantiation of business expenses.
T.D. 8869 (IRB 2000-6)  Sec. 1361, subsidiaries of S corporations.
T.D. 8866 (IRB 2000-6)  Sec. 1092, equity options and qualified covered calls.
T.D. 8859 (IRB 2000-5)  Sec. 42, low-income housing tax credit.
T.D. 8858 (IRB 2000-4)  Temporary regs. on purchase price allocations in asset acquisitions.
T.D. 8852 (IRB 2000-2)  Sec. 1366, 1367, and 1368 relating to S corporations.


Proposed Regulations

REG-107279-00 (IRB 2000-51) Sec. 152, definition of authorized placement agency; legal adoption; dependent.
REG-106050-99 (IRB 2000-48) Sec. 367(b), carryover and allocation of tax attributes such as earnings and profits.
REG-106511-00 (IRB 2000-45) Sec. 6075, 6081, guidance on filing for automatic 6-month extension of estate tax return (Form 706).
REG-108553-00 (IRB 2000-44) Sec. 7701, classification of pension and employee benefit trusts.
REG-105235-99 (IRB 2000-44) Sec. 121, exclusion of gain sale or exchange of principal residence.
REG-246249-96 (IRB 2000-44) Sec. 6041, 6045 information returns, two or more payments.
REG-114697-00 (IRB 2000-43) Nondiscrimination requirements for certain defined contribution retirement plans.
REG-103805-99 (IRB 2000-42) Sec. 1502, common parent of consolidated group as agent for group.
REG-103735-00 (IRB 2000-36) Sec. 6011, 6111, 6112 disclosure, registration, and list maintenance requirements relating to tax shelters.
REG-108522-00 (IRB 2000-34) Sec. 684, tax on transfers of appreciated propety to foreign trusts and estates.
REG-209038-89 (IRB 2000-34) Sec. 679, transfers of property by U.S. persons to foreign trusts.
REG-116495-99 (IRB 2000-33) Sec. 72(p), loans from qualified employer plans to plan participants or beneficiaries.
REG-107644-98 (IRB 2000-23) Sec. 472, dollar-value, last-in, first-out (LIFO) and inventory price computation.
REG-106186-98 (IRB 2000-23) Sec. 368, mergers involving disregarded entities.
REG-107872-99 (IRB 2000-16) Sec. 755, partnerships, allocation of basis adjustments among partnership assets.
REG-100291-00 (IRB 2000-16) Sec. 170, definition of guaranteed annuity interest and unitrust interest.
REG-100163-00 (IRB 2000-7) Sec. 197, antichurning rules to partnerships.
REG-113572-89 (IRB 2000-7) Sec. 132(f), qualified transportation fringe benefits.
REG-105089-99 (IRB 2000-6) Sec. 356, treatment of nonqualified preferred stock in certain exchanges and distributions.



Notice 2000-65 (IRB 2000-52)  Pilot program, resolve frequently disputed tax issues.
Notice 2000-66 (IRB 2000-52)  Sec. 415(d); retirement plans, cost of living adjustment, dollar limits.
Notice 2000-61 (IRB 2000-49)  Sec. 935; Guam; trusts.
Notice 2000-60 (IRB 2000-49)  Stock compensation corporate tax shelter; parent company's stock purchased by subsidiary; distributions to employees.
Notice 2000-58 (IRB 2000-47)  Election procedures for qualified subchapter S subsidiaries.
Notice 2000-47 (IRB 2000-46)  Table showing amount of individual's income exempt from levy for delinquent taxes.
Notice 2000-56 (IRB 2000-43)  Sec. 1032, owner of grantor trust when a parent corporation contributes its stock to a rabbi trust for the benefit of the employees of a subsidiary.
Notice 2000-53 (IRB 2000-38)  Sec. 1.1502-15(g); 1.1502-21(g); 1.1502-22(g); SRLY election, corporation ceasing to be a member of a consolidated group.
Notice 2000-51 (IRB 2000-38)  Enhanced oil recovery credit for 2000.
Notice 2000-50 (IRB 2000-38)  Sec. 631A, 2000 marginal production rates; percentage depletion.
Notice 2000-48 (IRB 2000-37)  New per diem rates to be issued for GSA employees to be issued Oct. 1, 2000. Rules for taxpayers using the new rates are contained in this notice.
Notice 2000-45 (IRB 2000-36)  Sec. 263A, UNICAP rules related to property produced in business of farming.
Notice 2000-44 (IRB 2000-36)  Tax avoidance using artificially high basis, shelters.
Notice 2000-41 (IRB 2000-33)  New Form 8872, Political Organization Report of Contributions and Expenditures.
Notice 2000-38 (IRB 2000-33)  Cash or deferred arrangements; nonqualified deferred compensation, withholding and reporting requirements, Sec. 457(b).
Notice 2000-36 (IRB 2000-33)  New Form 8871, Political Organization Notice of Section 527 Status.
Notice 2000-39 (IRB 2000-30)  IRA, new method for calculating net income attributable to returned IRA contributions (Sec. 408(d)(4)) and recharacterized contributions (Sec. 408A(d)(6)).
Notice 2000-35 (IRB 2000-29)  Current procedures for requesting letter rulings, determination letters, information letters, technical advice, from Chief Counsel unchanged despite reorganization.
Notice 2000-32 (IRB 2000-26)  Rollovers; hardship distributions; Sec. 402(c)(4)(C) and 403(b)(8)(B); Notice 99-5 modified.
Notice 2000-30 (IRB 2000-25)  IRAs, reporting requirements, Forms 1099-R and 5498. Notice 98-49 modified.
Notice 2000-21 (IRB 2000-19)  TRAC (tip reporting alternative commitment) info for food and beverage industry.
Notice 2000-24 (IRB 2000-17)  Charitable split-dollar insurance contributions.
Notice 2000-26 (IRB 2000-17)  Q&A guidance on installment sale accounting for accrual method taxpayers.
Notice 2000-23 (IRB 2000-17)  Credit for producing fuel from a nonconventional source, inflation adjustment.
Notice 2000-19 (IRB 2000-13)  Interim waiver for signatures on Form SS-4.
Notice 2000-15 (IRB 2000-12)  List of tax avoidance transactions for Reg. Sec. 1.6011-4T(b)(2).
Notice 2000-11 (IRB 2000-6)  Safe harbor explanation for certain qualified plan distributions.
Notice 2000-3 (IRB 2000-4)  Safe harbor and nondiscrimination tests for 401(k) plans.
Notice 2000-6 (IRB 2000-3)  Information reporting and barter exchanges.
Notice 2000-4 (IRB 2000-3)  Depreciation rules on like-kind exchange in involuntary conversion of MACRS property.
Notice 2000-1 (IRB 2000-2)  Effective date of proposed regulations under Sec. 1.368-2(d)(4) (mergers).



Announcement 2000-101 (IRB 2000-52) Large partnerships, waiver to electronically file, 100 or more partners.
Announcement 2000-100 (IRB 2000-51) Corrections to regulations in T.D. 8899; qualifed interest; Sec. 2702.
Announcement 2000-97 (IRB 2000-48) New reporting codes for 2001 Form W-2.
Announcement 2000-96 (IRB 2000-48) Corrections to proposed rulemaking (REG-209038-89, 2000-34) transfers of property by U.S. persons to foreign trusts with U.S. beneficiaries.
Announcement 2000-92 (IRB 2000-46) Corrections to proposed regulations (REG-117162-99, 2000-15) relating to tax treatment of cafeteria plans.
Announcement 2000-89 (IRB 2000-45) Tax treaty with Ukraine.
Announcement 2000-88 (IRB 2000-44) Sec. 263A, final regulations, farming.
Announcement 2000-86 (IRB 2000-44) Distribution code changes for 1099-R, distributions, pension plans.
Announcement 2000-71 (IRB 2000-44) Sec. 411(d)(6), qualified plans, determination letters.
Announcement 2000-85 (IRB 2000-43) Corrections to proposed rulemaking (REG-108522-00, 2000-34, IRB 187) relating to recognition of gain on certain transfers to foreign trusts and estates.
Announcement 2000-82 (IRB 2000-42) Sec. 170(f)(10), exempt organizations, personal benefit contracts, Form 8870, information return.
Announcement 2000-83 (IRB 2000-41) New form 8869; Qualified Subchapter S Subsidiary Election.
Announcement 2000-77 (IRB 2000-36) Plan amendments needed to obtain favorable determination letters for volume submitter plan applications.
Announcement 2000-73 (IRB 2000-35) Corrections to final regulations (T.D. 8884, 2000-24) under Sec. 1502 relating to credits of corporations, consolidated group.
Announcement 2000-65 (IRB 2000-32) Corrections to notice of proposed rulemaking (REG-107644-98) relating to dollar-value LIFO.
Announcement 2000-64 (IRB 2000-31) Supplemental information on short-term Treasury bills for 1999 edition of Publication 1212.
Announcement 2000-60 (IRB 2000-31) Prototype plans, automatic enrollment feature, 401(k) plans.
Announcement 2000-58 (IRB 2000-30) Targeted Jobs Tax Credit, terms of settlement of claims involving lack of certification.
Announcement 2000-57 (IRB 2000-28) Corrections to regulations T.D. 8883; Sec. 1032 dispositions of stock by acquiring entity.
Announcement 2000-55 (IRB 2000-25) Tax shelters, telephone number, e-mail address for those wishing to submit info to Office of Tax Shelter Analysis.
Announcement 2000-46 (IRB 2000-19) Notice of call for redemption; 8-1/4% Treasury Bonds of 2000-5.
Announcement 2000-32 (IRB 2000-15) Corrects Announcement 2000-18 relating to passthrough items S corporations, basis adjustments, and treatment of distributions.
Announcement 2000-28 (IRB 2000-15) Corrects TD 8849 relating to separate share rules for estates under Sec. 663(c).
Announcement 2000-26 (IRB 2000-15) Corrects TD 8864 relating to certain business expenses under Sec. 274.
Announcement 2000-25 (IRB 2000-14) Corrects TD 8819 relating to actuarial tables to value annuities, interests for life, and remainder interests.
Announcement 2000-18 (IRB 2000-13) Corrects errors in TD 8852 relating to S corporations, adjustments to basis, distributions.
Announcement 2000-17 (IRB 2000-17) Corrects errors in Rev. Proc. 2000-16, employee plans compliance resolution system.
Announcement 2000-12 (IRB 2000-12) Temp. and Prop. regs. registration of confidential corporate tax shelters.
Announcement 2000-13 (IRB 2000-11) Corrects final regs. under Secs. 743, 754, 755.
Announcement 2000-6 (IRB 2000-4)  Corrects final regs. on gift tax valuation.

Copyright 2000-2001 by A/N Group, Inc. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is distributed with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional should be sought. The information is not necessarily a complete summary of all materials on the subject.--ISSN 1089-1536

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--Last Update 10/18/01