Small Business Taxes & Management

IRS Pronouncements--2001

Small Business Taxes & Management--Copyright 2001-2002, A/N Group, Inc.

The list below contains a synopses of revenue rulings, revenue procedures, notices, announcements and regulations beginning with those issued during 2001. For a similar listing for 2000, go to IRS Pronouncements--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 are updated on our IRS Interest Rates page or, for more details go to the IRS AFR page



Revenue Rulings

Rev. Rul. 2001-62 (IRB 2001-53) Mortality tables; Sec. 417(e); employee plans.
Rev. Rul. 2001-66 (IRB 2001-53) LIFO Price indexes, October, 2001.
Rev. Rul. 2001-65 (IRB 2001-53) Inflation-adjusted Sec. 1274A amount, 2002.
Rev. Rul. 2001-64 (IRB 2001-53) CPI adjustment; below-market loans for 2002; qualified continuing care facility.
Rev. Rul. 2001-63 (IRB 2001-52) Interest rates on underpayments and overpayments; 1st quarter 2002.
Rev. Rul. 2001-60 (IRB 2001-51) Golf course greens; land preparation.
Rev. Rul. 2001-61 (IRB 2001-50) Sec. 301; retention of employer identification number; changing entity; partnership to disregarded entity.
Rev. Rul. 2001-55 (IRB 2001-47) Sec. 401; covered compensation table; contributions to defined benefit plans; permitted disparity.
Rev. Rul. 2001-57 (IRB 2001-46) Sec. 121; principal residence; sold and reacquired on January 1, 2001; exclusion disallowed.
Rev. Rul. 2001-54 (IRB 2001-46) LIFO Price indexes, September, 2001.
Rev. Rul. 2001-53 (IRB 2001-46) Low-income housing credit; bond factor; Oct. through Dec. 2001.
Rev. Rul. 2001-51 (IRB 2001-45) Sec. 415; limitations on benefits and contributions on qualified plans; 2001 Act.
Rev. Rul. 2001-50 (IRB 2001-43) Sec. 1374; built-in gains tax; S corporations; timber, coal and domestic iron ore.
Rev. Rul. 2001-46 (IRB 2001-42) Sec. 368; step transaction, integrated plan; merger.
Rev. Rul. 2001-45 (IRB 2001-42) LIFO Price indexes, August, 2001.
Rev. Rul. 2001-47 (IRB 2001-39) Interest rates on over- and underpayments; 4th quarter 2001.
Rev. Rul. 2001-40 (IRB 2001-38) Refund or credit of an overassessed tax, modifies Rev. Rul 78-127.
Rev. Rul. 2001-44 (IRB 2001-37) LIFO Price indexes, July, 2001.
Rev. Rul. 2001-41 (IRB 2001-35) LIFO Price indexes, June, 2001.
Rev. Rul. 2001-38 (IRB 2001-33) Sec. 1504(d); wholly owned Mexican subsidiary; consolidated return.
Rev. Rul. 2001-37 (IRB 2001-32) Low income housing credit; bond factor amounts; July-September, 2001.
Rev. Rul. 2001-35 (IRB 2001-29) LIFO Price indexes, May, 2001.
Rev. Rul. 2001-30 (IRB 2001-29) Sec. 1.401(a)(4)-8(b), nondiscrimination, cross-testing, defined contribution plan allocation.
Rev. Rul. 2001-32 (IRB 2001-26) Interest rates on under- and overpayments for quarter beginning July 1, 2001.
Rev. Rul. 2001-31 (IRB 2001-26) Captive insurance transactions; IRS will no longer challenge such transactions using the economic family theory.
Rev. Rul. 2001-28 (IRB 2001-25) LIFO Price indexes, April, 2001.
Rev. Rul. 2001-26 (IRB 2001-23) Sec. 368; two-step stock acquisitions; tender offer and merger
Rev. Rul. 2001-25 (IRB 2001-22) Sec. 368; reverse triangular merger.
Rev. Rul. 2001-24 (IRB 2001-22) Sec. 368; forward triangular merger.
Rev. Rul. 2001-23 (IRB 2001-20) LIFO Price indexes, March.
Rev. Rul. 2001-21 (IRB 2001-18) Special use value; farms; interest rates for 2001; Sec. 2032A.
Rev. Rul. 2001-20 (IRB 2001-18) Qualified lessee construction allowances for short-term leases; Sec. 110.
Rev. Rul. 2001-18 (IRB 2001-17) LIFO Price indexes, February.
Rev. Rul. 2001-15 (IRB 2001-13) List of Presidentially declared disaster areas for 2000.
Rev. Rul. 2001-14 (IRB 2001-12) LIFO Price indexes, January.
Rev. Rul. 2001-8 (IRB 2001-9) Inventories, floor stocks payments.
Rev. Rul. 2001-1 (IRB 2001-9) E&P adjustments on exercise of stock option.
Rev. Rul. 2001-9 (IRB 2001-8) LIFO Price indexes, December
Rev. Rul. 2001-6 (IRB 2001-6) Deductibility of payments in redemption of stock held by ESOP.
Rev. Rul. 2001-5 (IRB 2001-4) LIFO Price indexes, November
Rev. Rul. 2001-4 (IRB 2001-3) Aircraft maintenance costs; capitalize vs. expense; improvement vs. repair.


Revenue Procedures

Rev. Proc. 2001-59 (IRB 2001-52) Cost of living adjustments for 2002; tax rate tables; personal exemption; standard deduction.
Rev. Proc. 2001-56 (IRB 2001-51) Demo autos; automobile dealerships; valuing.
Rev. Proc. 2001-58 (IRB 2001-50) Sec. 6656; failure to deposit penalty; how IRS will credit federal tax deposits.
Rev. Proc. 2001-55 (IRB 2001-49) Qualified plans; extension of remedial amendment period to February 28, 2002; to June 30, 2002 for plans directly affected by September 11 terrorist attack.
Rev. Proc. 2001-54 (IRB 2001-48) Optional standard mileage rate; automobile; business use.
Rev. Proc. 2001-53 (IRB 2001-47) Sec. 7508A; list of time-sensitive acts; postponement; presidentially declared disaster area.
Rev. Proc. 2001-52 (IRB 2001-46) Sec. 6662(d); penalties; substantial understatement; adequate disclosure.
Rev. Proc. 2001-51 (IRB 2001-43) Sec. 1374; removal from no-rule list for timber, coal, and domestic iron ore.
Rev. Proc. 2001-47 (IRB 2001-42) Rules for deemed substantiated T&E; meals; per diem allowances 2001-2002.
Rev. Proc. 2001-49 (IRB 2001-39) Procedures for investigating abusive tax shelter promotions. Revokes Rev. Proc. 83-78 and 84-84.
Rev. Proc. 2001-43 (IRB 2001-34) Grant of partnership profits interest for provision of services.
Rev. Proc. 2001-41 (IRB 2001-33) Frivolous issues; technical advice denied; Rev. Proc. 2001-2 modified.
Rev. Proc. 2001-38 (IRB 2001-24) Qualified terminable interest property (QTIP); election; treated as a nullity; estate taxes.
Rev. Proc. 2001-36 (IRB 2001-23) Securities partnerships; aggregate built-in gains and losses; contributed property.
Rev. Proc. 2001-37 (IRB 2001-23) Elections; FSC Repeals and Extraterritorial Income Exclusion Act of 2000; exclusion of foreign income.
Rev. Proc. 2001-29 (IRB 2001-19) Rulings; leveraged leasing transactions; information and representations.
Rev. Proc. 2001-28 (IRB 2001-19) Rulings; leveraged leasing transactions; guidelines IRS uses for advance rulings to determine whether a lease is a true lease.
Rev. Proc. 2001-23 (IRB 2001-10) Dollar-value LIFO, optional method for dealers of used automobiles and light-duty trucks.
Rev. Proc. 2001-22 (IRB 2001-9) Pre-filing agreement program; large and mid-size business division.
Rev. Proc. 2001-21 (IRB 2001-9) Election to treat certain debt substitutions as realization events.
Rev. Proc. 2001-19 (IRB 2001-9) Luxury autos; depreciation limits; lease inclusion table.
Rev. Proc. 2001-18 (IRB 2001-8) Procedure on how a taxpayer is to inform IRS of change of address.
Rev. Proc. 2001-13 (IRB 2001-3) Cost-of-living adjustments for 2001; tax rate tables. (See also Notice 2001-12)
Rev. Proc. 2001-11 (IRB 2001-2) Adequate disclosure to reduce understatement penalty.
Rev. Proc. 2001-10 (IRB 2001-2) Accounting methods, cash vs. accrual, accounting for inventories, $1,000,000 exception.
Rev. Proc. 2001-8 (IRB 2001-1) User fees for requesting letter rulings, determination letters, etc. for employee plans and exempt organizations.
Rev. Proc. 2001-7 (IRB 2001-1) List of matters where Service will not issue rulings or determination letters for international issues.
Rev. Proc. 2001-6 (IRB 2001-1) Revised procedures for issuing determination letters on employee plans.
Rev. Proc. 2001-5 (IRB 2001-1) Revised procedures for furnishing technical advice to area managers.
Rev. Proc. 2001-4 (IRB 2001-1) Revised procedures for furnishing ruling letters, information letters, etc.
Rev. Proc. 2001-3 (IRB 2001-1) List of matters where Service will not issue rulings or determination letters for domestic issues.
Rev. Proc. 2001-2 (IRB 2001-1) Revised procedures for issuing technical advice on issues under jurisdiction of Assc. Chief Counsel (corporate, income tax and accounting, passthroughs).
Rev. Proc. 2001-1 (IRB 2001-1) Revised procedures for issuing letter rulings on issues under jurisdiction of Assc. Chief Counsel (corporate, income tax and accounting, passthroughs).




T.D. 8966 (IRB 2001-45) Sec. 125; final regulations; Family and Medical Leave Act; cafeteria plans.
T.D. 8965 (IRB 2001-44) Sec. 6221 through 6233; unified partnership audit procedures.
T.D. 8964 (IRB 2001-42) Sec. 301; liabilities assumed in connection with corporate distributions.
T.D. 8963 (IRB 2001-35) Sec. 6302(a); requirements for excise tax returns, payments, and deposits.
T.D. 8962 (IRB 2001-35) Sec. 7701; final regs. amend Sec. 301.7701-7; listed trusts; domestic trusts.
T.D. 8961 (IRB 2001-35) Sec. 6011a, 6111(d), and 6112; temporary and proposed regs.; disclosure requirements and list maintenance for tax shelters. (REG-103735-00; 110311-98; 103736-00)
T.D. 8959 (IRB 2001-34) Sec. 6205; interest-free adjustments of certain underpayments of employment taxes.
T.D. 8960 (IRB 2001-34) Sec. 355(e); gain recognition on certain distributions of stock or securities of a subsidiary corporation.
T.D. 8957 (IRB 2001-33) Sec. 6075; 6081; automatic 6-month extension to file Form 706; estate tax return.
T.D. 8956 (IRB 2001-32) Sec. 684; recognition of gain on transfers to certain foreign trusts and estates.
T.D. 8955 (IRB 2001-32) Sec. 679; transfers of property by U.S. persons to foreign trusts.
T.D. 8954 (IRB 2001-29) Sec. 401(a)(4), conditions where certain defined contribution plans (new comparability) can comply with nondiscrimination requirements based on benefits, not contributions.
T.D. 8953 (IRB 2001-29) Sec. 32, earned income credit, denied, claim in subsequent year.
T.D. 8951 (IRB 2001-29) Sec. 6323, withdrawal of notice of tax lien.
T.D. 8948 (IRB 2001-28) Sec. 420(c), significant reduction in retiree health coverage.
T.D. 8950 (IRB 2001-28) Sec. 1502, time for filing application tentative carryback adjustment by consolidated groups.
T.D. 8949 (IRB 2001-28) Sec. 1502, aggregation of stock ownership in a corporation of members of consolidated group.
T.D. 8947 (IRB 2001-28) Sec. 6656, final regulations removed; section obsolete.
T.D. 8946 (IRB 2001-24) Sec. 6302, de minimis threshold for tax deposits; $2,500.
T.D. 8944 (IRB 2001-16) Sec. 925, election to be treated as a foreign sales corporation (FSC).
T.D. 8940 (IRB 2001-15) Sec. 338, 1060, deemed and actual asset acquisitions.
T.D. 8939 (IRB 2001-12) Sec. 6212, last known address.
T.D. 8937 (IRB 2001-11) Sec. 367(b), distributions of stock.
T.D. 8933 (IRB 2001-11) Sec. 132(f), qualified transportation fringe benefits (vanpooling, parking, transit passes), Notice 94-3 modified.
T.D. 8932 (IRB 2001-11) Sec. 7502, extend timely-mailing-timely-filing rule to electronically filed returns.
T.D. 8929 (IRB 2001-10) Sec. 460, final regulations, accounting for long-term contracts.
T.D. 8920 (IRB 2001-8) Sec. 4958, definitions, excise taxes on excess benefit transactions, tax exempt organizations.
T.D. 8928 (IRB 2001-8) Final regulations, COBRA continuation coverage requirements of group health plans.
T.D. 8921 (IRB 2001-7) Sec. 125, tax treatment of cafeteria plans.
T.D. 8917 (IRB 2001-7) Sec. 467, removal of exception to constant rental accrual for rental agreements involving payments of $2 million or less.
T.D. 8926 (IRB 2001-6) Sec. 643, 644, charcter of distributions from charitable remainder trusts.
T.D. 8925 (IRB 2001-6) Sec. 708, tax consequences partnership mergers and divisons.
T.D. 8924 (IRB 2001-6) Sec. 301, assumption of liabilities in certain corporate transactions.
T.D. 8923 (IRB 2001-6) Sec. 170, 2055, 2522, definition of guaranteed annuity interest, unitrust interest.
T.D. 8930 (IRB 2001-5) Sec. 41, final regulations, research and experimentation credit.
T.D. 8912 (IRB 2001-5) Sec. 2601, retention of trust's exempt status for generation-skipping transfer.
T.D. 8915 (IRB 2001-4) Sec. 444, Electing Small Business Trust, Sec. 501(c)(3) not deferral entities.
T.D. 8913 (IRB 2001-3) Sec. 355(d), gain recognition on distributions of stock of controlled corporation.
T.D. 8911 (IRB 2001-3) Sec. 7508, 7508A, Presidentially declared disaster areas, combat zone, postpone tax-related deadlines.
T.D. 8909 (IRB 2001-2) Sec. 6053, electronic systems for tipped employees, substantiation requirements.


Proposed Regulations

REG-142686-01 (IRB 2001-49) Sec. 422; 423; FICA; FUTA; applicability on excercise of statuory stock option; incentive stock option.
REG-137518-01 (IRB 2001-49) Sec. 357(c); nonapplicability of Sec. 357(c); consolidated return regulations.
REG-126485-01 (IRB 2001-49) Sec. 368(a)(1)(A); definition of statutory merger or consolidation.
REG-125161-01 (IRB 2001-48) Sec. 446; timing rules of intercompany transaction regulations.
REG-142499-01 (IRB 2001-45) Sec. 414(v); catch-up contributions individuals age 50 or over; qualified retirement plans; 2001 tax Act.
REG-107151-00 (IRB 2001-43) Sec. 1041; redemptions of stock owned by spouse during marriage or incident to divorce.
REG-106431-01 (IRB 2001-37) Sec. 1341, qualified subchapter S trust election, testamentary trust.
REG-100548-01 (IRB 2001-29) Sec. 341, proposed regulations relating to collapsible corporations and proposed regulations under Sec. 1502 relating to filing of consolidated returns are withdrawn.
REG-106917-99 (IRB 2001-27) Sec. 441, 442, adoption, change, and retention of annual accounting periods.
REG-106513-00 (IRB 2001-16) Sec. 643, definition of income for trust purposes.
REG-105946-00 (IRB 2001-16) Sec. 460, changes in accounting for long-term contracts.
REG-101520-97 (IRB 2001-15) Sec. 6343, return of levied property; request return of property levied upon.
REG-106047-00 (IRB 2001-14) Sec. 1221, character of gain or loss from hedging transactions.
REG-104876-00 (IRB 2001-14) Sec. 706, taxable year of partnership with foreign partners.
REG-115560-99 (IRB 2001-14) Sec. 1092, qualified covered call treatment for equity options with flexible terms, etc.
REG-106446-98 (IRB 2001-13) Sec. 6015, married taxpayers filing joint; relief from joint and several liability.
REG-107175-00 (IRB 2001-13) Sec. 1031, qualified escrow accounts, qualified intermediaries.
REG-105801-00 (IRB 2001-13) Sec. 263(g), capitalization of interest and carrying charges allocable to personal property that is part of a straddle.
REG-110659-00 (IRB 2001-12) Sec. 332, associations, entity classification election; liquidation.
REG-110374-00 (IRB 2001-12) Sec. 6205, interest free adjustments on underpayments of employment taxes; Section 530 relief.
REG-111835-99 (IRB 2001-11) Practice before the IRS, advice regarding tax shelters.
REG-130477-00 (IRB 2001-11) Sec. 457, 403(b), required minimum distributions, qualified plans, tax-sheltered annuities, and IRAs; corrected version.
REG-114084-00 (IRB 2001-7) HIPAA exception for bona fide wellness programs.
REG-114082-00 (IRB 2001-7) HIPAA requirements for group health plans.
REG-119352-00 (IRB 2001-6) Sec. 1502, time for filing tentative carryback adjustment by consolidated groups and by certain new members of groups.
REG-106542-98 (IRB 2001-5) Sec. 645, certain revocable trusts treated as part of an estate.
REG-251701-96 (IRB 2001-4) Sec. 641 and 1361, electing small business trusts (ESBTs)
REG-106702-00 (IRB 2001-4) Sec. 705 and 1032, basis adjustments, corporation acquires interest in partnership that holds stock in corporation.
REG-107176-00 (IRB 2001-4) Sec. 6302, deposit of federal taxes.
REG-107566-00 (IRB 2001-3) Sec. 355(e), gain recognition on distribution of stock of subsidiary corporation; 50% or greater interest in corporation.



Notice 2001-84 (IRB 2001-53) Retirement plans; 2002 Sec. 415(d) limitations; dollar limits on benefits; limit on contributions; control employee.
Notice 2001-76 (IRB 2001-52) Sec. 446; proposed revenue procedure; use of cash method of accounting.
Notice 2001-75 (IRB 2001-51) Sec. 45D; Qualified equity investment; new markets tax credit.
Notice 2001-74 (IRB 2001-49) Mid-quarter convention; supplement to relief in Notice 2001-70.
Notice 2001-73 (IRB 2001-49) FICA and FUTA; application to statutory stock options.
Notice 2001-72 (IRB 2001-49) Income tax withholding and reporting; sale or disposition of stock acquired pursuant to statutory stock option.
Notice 2001-67 (IRB 2001-49) LMSB (large and medium size businesses); Fast Track Dispute Resolution Pilot Program.
Notice 2001-68 (IRB 2001-47) Terrorist attack; September 11; tax relief; Notice 2001-61 expanded; additional acts for postponement.
Notice 2001-69 (IRB 2001-46) Leave-based donation programs; income and employment taxes; September 11 terrorist attack.
Notice 2001-70 (IRB 2001-45) Additional disaster relief; Sept. 11 terrorist attack; depreciation; mid-quarter convention.
Notice 2001-66 (IRB 2001-44) Qualified intermediaries; withholding and reporting regulations; audit guidelines.
Notice 2001-63 (IRB 2001-40) Additional relief for taxpayers affected by the September 11, 2001 terrorist attack on World Trade Center.
Notice 2001-62 (IRB 2001-40) Updated list of private delivery services that meet timely-mailing, timely-filing rule.
Notice 2001-61 (IRB 2001-40) Relief for taxpayers affected by the September 11, 2001 terrorist attack on World Trade Center.
Notice 2001-55 (IRB 2001-39) Sec. 529, qualified tuition programs, restrictions on investment direction.
Notice 2001-56 (IRB 2001-38) Pension plans, increase in compensation limit, modification of top heavy, 401(k) hardship distributions, Economic Growth and Tax Relief Reconciliation Act of 2001.
Notice 2001-54 (IRB 2001-37) 2001 enchanced oil recovery credit.
Notice 2001-53 (IRB 2001-37) 2001 marginal production rates; Sec. 613A; percentage depletion.
Notice 2001-47 (IRB 2001-35) Additional comment period for proposed regs. 1.469-7 relating to self-charged items of income and expense for passive activity losses and credits.
Notice 2001-51 (IRB 2001-34) Listed transactions; tax avoidance transactions; Sec. 1.6011-4T(b)(2) and 301.6111-2T(b)(2).
Notice 2001-50 (IRB 2001-34) Extension of time to make an allocation of generation-skipping transfer (GST) exemption under Sec. 2642(b)(1) and (2).
Notice 2001-45 (IRB 2001-33) IRS will challenge basis shifting tax avoidance transactions; listed transactions.
Notice 2001-46 (IRB 2001-32) Extension of relief for nondiscrimination rules for certain church and governmental plans.
Notice 2001-40 (IRB 2001-26) Frivolous filing position; Section 861.
Notice 2001-37 (IRB 2001-25) Definition of compensation; qualified transportation fringe benefits; qualified plans; tax sheltered annuities.
Notice 2001-38 (IRB 2001-24) Information returns; reporting exceptions; Sec. 6041
Notice 2001-34 (IRB 2001-23) Accounting periods; automatic approval; S corporations; partnerships.
Notice 2001-34 (IRB 2001-23) Sec. 442; adopt, change or retain an accounting period.
Notice 2001-30 (IRB 2001-14) Tax relief for Cerro Grande Fire victims.
Notice 2001-29 (IRB 2001-14) Research credit suspension period; corporate taxpayers; extension; expired credit.
Notice 2001-26 (IRB 2001-13) Section 645; reporting method allowed.
Notice 2001-25 (IRB 2001-13) Electing small business trust (ESBT); transfer of estimated taxes.
Notice 2001-23 (IRB 2001-12) Changes in accounting method, Rev. Rul. 2001-4 modified; aircraft airframe; heavy maintenance.
Notice 2001-22 (IRB 2001-12) Installment sale; changes in accounting method; accrual method taxpayers.
Notice 2001-17 (IRB 2001-9) Contingent liability tax shelter; transfer of assets to a corporation; assumption of contingent liability.
Notice 2001-16 (IRB 2001-9) Intermediary transactions tax shelter; sale of assets of corporation; intermediary.
Notice 2001-14 (IRB 2001-6) Notice of intent to issue guidance regarding withholding upon disposition of stock acquired through exercise of statutory option.
Notice 2001-10 (IRB 2001-5) Split dollar life insurance. Rev. Rul. 55-747 revoked; Rev. Ruls. 64-328, 66-110 modified.
Notice 2001-8 (IRB 2001-4)  Information returns, discharge of indebtedness.
Notice 2001-7 (IRB 2001-4)  Information returns, payments to attorneys, delay of effective date of regulations under Sec. 6045(f).
Notice 2001-12 (IRB 2001-3)  Cost of living adjustments for 2001; Rev. Proc. 2001-13 clarified.
Notice 2001-5 (IRB 2001-3)  Sec. 708(b)(1)(B); terminated partnership, short-year returns.
Notice 2001-2 (IRB 2001-2)  Sec. 41; Computation of research credit; suspension period.
Notice 2001-1 (IRB 2001-2)  Requirements for employers and approval procedures for employer designed tip reporting alternative commitment (EmTRAC) for food and beverage industry.



Announcement 2001-124 (IRB 2001-52) Disaster relief for partners, shareholders, beneficiaries; September 11 terrorist attack.
Announcement 2001-121 (IRB 2001-50) Withdrawal of proposed regulations; certain corporate reorganizations involving disregarded entities.
Announcement 2001-117 (IRB 2001-49) Partners, S corporation shareholders, beneficiaries; passthrough entities; extension for September 11 terrorist attack.
Announcement 2001-112 (IRB 2001-46) Redesignation of estimated income tax payments as employment tax deposits; September 11 terrorist attack.
Announcement 2001-109 (IRB 2001-45) Revisions Forms 5300, 5307, 5309, 6406, and Schedule Q (Form 5300).
Announcement 2001-107 (IRB 2001-44) Martinsburg Computing Center (MCC) Information Reporting Program Call site; toll-free telephone number.
Announcement 2001-106 (IRB 2001-44) Saver's Credit, Sec. 25B, employee plans and individual retirement arrangements.
Announcement 2001-93 (IRB 2001-44) Form W-2 for 2002, elective deferral catch-up contributions.
Announcement 2001-103 (IRB 2001-43) Schedules B and R of Form 5500; late filing; relief from penalties.
Announcement 2001-101 (IRB 2001-43) Issuers of tax-exempt bonds; additional time to file forms required under Sec. 149 and 148.
Announcement 2001-99 (IRB 2001-42) Archer MSA; Sec. 200; not a cut-off year.
Announcement 2001-96 (IRB 2001-41) New form for sponsors of prototype simplified employee pension (SEP) and SIMPLE IRA plans.
Announcement 2001-98 (IRB 2001-41) Quarterly excise tax return, Form 720, revised filing and deposit requirements.
Announcement 2001-92 (IRB 2001-39) W-2, exercise of nonstatutory stock options, optional for 2002.
Announcement 2001-86 (IRB 2001-35) Corrections to proposed regulations relating to adoption, changes, and retention of annual accounting period.
Announcement 2001-80 (IRB 2001-31) Reduction in backup withholding rate; list of publications and forms to be revised to reflect new rate.
Announcement 2001-77 (IRB 2001-30) Qualified plans; determination letters; IRS taking steps to simplify application process.
Announcement 2001-75 (IRB 2001-28) Procedure for requesting waiver from electronic filing; partnership returns.
Announcement 2001-73 (IRB 2001-28) Correction to Rev. Proc. 2000-39 (IRB 2000-41); business and traveling expenses and per diem allowances.
Announcement 2001-74 (IRB 2001-28) Revised filing locations for estate, gift, and generation skipping transfer tax returns.
Announcement 2001-63 (IRB 2001-25) Sec. 416, 417 Defined Benefit Listing of Required Modifications; master and prototype and volume submitter plans.
Announcement 2001-64 (IRB 2001-25) Schedule of IRS Nationwide Tax Forums and 2001 IRS/SSA Information Reporting Program Seminars.
Announcement 2001-62 (IRB 2001-24) New address; Form 8264; Application for Registration of Tax Shelter.
Announcement 2001-56 (IRB 2001-21) Corrections to final regulations; (T.D. 8929, 2001-10, IRB 756) guidance on methods of accounting for long-term contracts.
Announcement 2001-55 (IRB 2001-21) Corrections to final regulations; Sec. 1461-1463; withholding of tax on certain U.S. source income paid to foreign persons.
Announcement 2001-53 (IRB 2001-20) Corrections to final regulations; Sec. 338, 1060; asset acquisitions.
Announcement 2001-52 (IRB 2001-20) Corrections to proposed regulations; Sec. 121; exclusion of gain sale or exchange of principal residence.
Announcement 2001-51 (IRB 2001-20) Corrections to proposed regulations; Sec. 367; carryover of tax attributes.
Announcement 2001-32 (IRB 2001-17) Advance Pricing Agreements (APA).
Announcement 2001-31 (IRB 2001-17) Corrections to final regulations (T.D. 8933) guidance on qualified transportation fringes.
Announcement 2001-40 (IRB 2001-17) Corrections to final regulations (T.D. 8912) relating to trust's exempt status for generation-skipping transfer tax.
Announcement 2001-37 (IRB 2001-16) Delay in effective date of regulations relating to HIPAA requirements; group health plans.
Announcement 2001-29 (IRB 2001-14) Original issue discount; Treasury bills; Publication 1212; supplemental list.
Announcement 2001-28 (IRB 2001-13) Corrections to proposed regulations; basis of a partner's interest.
Announcement 2001-22 (IRB 2001-11) Corrections to Rev. Proc. 2001-2, relating to nonruling issues for letter rulings and determination letters.
Announcement 2001-22 (IRB 2001-11) Advance valuation of art for income, estate, and gift tax purposes; change of address.
Announcement 2001-26 (IRB 2001-11) Corrections to final regulations for guidance on recognition of gain on certain distributions of stock or securities.
Announcement 2001-19 (IRB 2001-10) Correction of error in Rev. Rul. 2000-56 regarding loans to qualified continuing care facility; imputed interest.
Announcement 2001-18 (IRB 2001-10) Supplements to Publication 575, Pension and Annuity Income and Publication 590, Individual Retirement Arrangements reflect proposed regulations on minimum required distributions.
Announcement 2001-21 (IRB 2001-9) Medical savings accounts; MSAs; extension.
Announcement 2001-13 (IRB 2001-9) Schedule N, Form 1120; Foreign Operations of U.S. Corporations.
Announcement 2001-12 (IRB 2001-6) Commonly asked questions for determining GUST remedial amendment period.
Announcement 2001-11 (IRB 2001-4) Withdraws notice of proposed rulemaking (REG-116733-98, IRB 1999-36) relating to recognition of gain on certain distributions of stock of controlled corporation.
Announcement 2001-7 (IRB 2001-3) 2001 W-2, Code V for exercise of nonstatutory stock options in Box 12 is optional.
Announcement 2001-1 (IRB 2001-2) Tip reporting agreements.


Executive Order

Executive Order 13239 Afghanistan (and its airspace) designated a combat zone.

Copyright 2001-2002 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 01/11/02