Small Business Taxes & Management
IRS Pronouncements--2017--Short List


Small Business Taxes & ManagementTM--Copyright 2017, 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, 2017. Because the IRS is no longer indexing the contents of the bulletins as in the past, beginning with 2015 we have created two indicies--this one is 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. Because it does not contain items of interest to insurance companies, banks, etc. the list is shorter and easier to review. For a list of all pronouncements go to IRS Pronouncements--2017. For a abbreviated, similar listing for prior years, go to:

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". 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

Notes.

For Revenue Rulings-- www.irs.gov/pub/irs-drop/rr-17-xx.pdf
For Revenue Procedures-- www.irs.gov/pub/irs-drop/rp-17-xx.pdf
For Notices-- www.irs.gov/pub/irs-drop/n-17-xx.pdf

The xx must be at least two digits. Thus, Revenue Ruling 5 for 2017 would be: www.irs.gov/pub/irs-drop/RR-17-05.pdf   For prior years, change the 17 to the appropriate year (available years vary).

New Additions - Bulletin 12

Rev. Rul. 2017-6 (IRB 2017-12) Interest rates on underpayments and overpayments; quarter beginning April 1, 2017.

For the full text of these rulings, go to Internal Revenue Bulletin 2017-11

 

Cumulative Listings - 2017


Revenue Rulings

Rev. Rul. 2017-6 (IRB 2017-12) Interest rates on underpayments and overpayments; quarter beginning April 1, 2017.
Rev. Rul. 2017-7 (IRB 2017-10) Applicable federal rates; adjusted federal long-term rate; March 2017.
Rev. Rul. 2017-4 (IRB 2017-06) Applicable federal rates; adjusted federal long-term rate; February 2017.
Rev. Rul. 2017-2 (IRB 2017-02) Applicable federal rates; adjusted federal long-term rate; January 2017.

 

Revenue Procedures

Rev. Proc. 2017-19 (IRB 2017-7) Relief under Rev. Proc. 2015-57 extended; Federal student loans to finance attendance at school owned by American Career Institutes, Inc.; discharge of indebtedness information statements.
Rev. Proc. 2017-21 (IRB 2017-6) Withholding foreign partnerships; WPs; withholding foreign trusts; WTs; qualified intermediary withholding agreement; Rev. Proc. 2014-47; Rev. Proc. 2017-15.
Rev. Proc. 2017-14 (IRB 2017-3) Certified professional employer organizations; CFEO; employee leasing; voluntary certification.
Rev. Proc. 2017-7 (IRB 2017-1) Areas in which rulings will not be issued, Associate Chief Counsel International.
Rev. Proc. 2017-5 (IRB 2017-1) Revised procedures for issuing determination letters on on issues under jurisdicition of Director, Exempt Organizations Rulings and Agreements.
Rev. Proc. 2017-4 (IRB 2017-1) Revised procedures; guidance on issues under the jurisdiction of the Commissioner, Tax Exempt and Government Entities; Rev. Procs. 2016-4, 2016-6 and 2016-8 superseded.
Rev. Proc. 2017-3 (IRB 2017-1) Revised list of areas where IRS will not issue letter rulings or determination letters; Corporate; Financial Institutions and Products; Income Tax and Accounting; International; Passthroughs and Special Industries; Procedure and Administration; Tax Exempt and Government Entities; Associate Chief Counsel; Rev. Proc. 2016-3 superseded.
Rev. Proc. 2017-2 (IRB 2017-1) Procedures for Technical advice memoranda; TAMS; taxpayer rights when field office requests TAMS; Corporate; Financial Institutions and Products; Income Tax and Accounting; International; Passthroughs and Special Industries; Procedure and Administration; Tax Exempt and Government Entities; Associate Chief Counsel; Rev. Proc. 2016-2 superseded.
Rev. Proc. 2017-1 (IRB 2017-1) 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. 2016-1 superseded.

 

Regulations

T.D. 9817 (IRB 2017-9) Sec. 7704; qualifying income exception for publicly traded partnerships to not be treated as corporations; activities that generate qualifying source income from minerals and natural resources.
T.D. 9811 (IRB 2017-7) Sec. 1022; modified carryover basis; property transferred from certain decedents who died in 2010.
T.D. 9810 (IRB 2017-6) S corporations; regulated investment companies; RICs; real estate investment trusts; REITs; property previously held by a C corporation; specified recognition period.
T.D. 9808 (IRB 2017-5) Sec. 871; 3406; 6402; withholding tax on certain U.S. source income paid to foreign persons; information reporting and backup withholding.
T.D. 9804 (IRB 2017-3) Sec. 36B; health insurance premium credit; amendment to computation of credit; pediatric dental benefits; information reporting by Exchanges.

 

Proposed Regulations

REG-137604-07 (IRB 2017-7) Dependency exemption; definition of surviving spouse; definition of head of household; child and dependent care credit; earned income tax credit.
REG-131643-15 (IRB 2017-6) Sec. 401(k); funding matching contributions; qualified nonelective contributions; satisfying certain nonforfeitability and distribution requirements.
REG-134247-16 (IRB 2017-5) Sec. 871; 3406; 6402; withholding tax on certain U.S. source income paid to foreign persons; information reporting and backup withholding.
REG-112324-15 (IRB 2017-4) Mortality tables for defined benefit pension plans.

 

Notices

Notice 2017-20 (IRB 2017-11) Qualified small employer health reimbursement arrangement; QSEHRA; extension of time to furnish written notice to employees; period extended from March 13, 2017 to 90 days after additional guidance regarding contents of notice; transitional relief from penalties; Sec. 6652.
Notice 2017-19 (IRB 2017-9) Sec 41; 142; 146; state housing credit ceiling; private activity bond volume cap; private activity bond volume limit.
Notice 2017-16 (IRB 2017-7) Sec. 35; health coverage tax credit; HCTC; time for election; 3-year statute of limitations under Sec. 6511.
Notice 2017-15 (IRB 2017-6) Recalculating of taxpayer's remaining applicable exclusion amount and remaining GST exemption; allocation of exclusion or exemption to transfers made while taxpayer married to person of same sex.
Notice 2017-14 (IRB 2017-6) Sec. 5000A; 35; individual shared responsibility payment; hardship exemption; health coverage tax credit; HCTC.
Notice 2017-12 (IRB 2017-5) Estate tax; confirmation of closing of an examination of an estate tax return; account transcript with a transaction code of 421.
Notice 2017-10 (IRB 2017-4) Syndicated conservation easement transactions; tax avoidance transactions; listed transactions; participants and material advisors.
Notice 2017-9 (IRB 2017-4) Sec. 6721 and 6722; error on an information return or payee statement; correction threshold to avoid penalty; safe harbor $100 amount, $25 tax withheld.
Notice 2017-4 (IRB 2017-4) Sec. 45 and 48; beginning of construction; extension and modification of Continuity Safe Harbor; Five Percent Safe Harbor; renewable energy facilties.
Notice 2017-8 (IRB 2017-3) Extension of time for filing participant and material advisor disclosure statements until May 1, 2017; Notice 2016-66 modified.
Notice 2017-6 (IRB 2017-3) Secs. 162; 263; Automatic changes to utilize final tangible property regulations; waiver of eligibility rule for one more year taxable year beginning before January 1, 2017; automatic changes to comply with final depreciation and disposition regulations; five taxable year period of accounting method change for same item.
Notice 2017-3 (IRB 2017-2) Maximum vehicle values for use with special valuation rule; cents per mile valuation rule; inflation adjustment.
Notice 2017-1 (IRB 2017-2) Sec. 7528; exemption from user fee; requests for determination letters; qualified status of pension, profit-sharing, stock bonus, annuity, and employee stock ownership plans maintained by small employers; Rev. Proc. 2016-37.

 

Announcements

Announcement 2017-1 (IRB 2017-8) Office of Professional Responsibility; OPR; recent disciplinary sanctions; attorneys; CPAs; enrolled agents; enrolled actuaries; entrolled retirement plan agents; appraisers.

 

Action on Decision

Action on Decision 2017-1 (IRB 2017-7 Nonacquiescence announced; holding in Burnett Ranches, Ltd v. United States; limited partnership not a farming syndicate; sole shareholder of limited partner S corporation; active participation in farming business.

 

       Links to Individual Bulletins

Internal Revenue Bulletin 2017-1
Internal Revenue Bulletin 2017-2
Internal Revenue Bulletin 2017-3
Internal Revenue Bulletin 2017-4
Internal Revenue Bulletin 2017-5
Internal Revenue Bulletin 2017-6
Internal Revenue Bulletin 2017-7
Internal Revenue Bulletin 2017-8
Internal Revenue Bulletin 2017-9
Internal Revenue Bulletin 2017-10
Internal Revenue Bulletin 2017-11
Internal Revenue Bulletin 2017-12

 


Copyright 2017 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. Copyright is not claimed on material from U.S. Government sources--ISSN 1089-1536


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--Last Update 03/18/17