Small Business Taxes & Management

IRS Pronouncements--2021

Note. The list below contains a synopses of revenue rulings, revenue procedures, notices, announcements and regulations beginning with those issued January 1, 2021. 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--2021--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--2021
IRS Pronouncements--2020
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.

The list below includes pronouncements for the first 52 bulletins of 2021.
Entries for each section are in the order they appear in the bulletins.
Go to our Abbreviations page for details on any abbreviations.
Quick link to Individual Bulletins for 2021
If you know the number, you can access a PDF file of any recent Revenue Ruling, Revenue Procedure, or Notice at the IRS Web site directly. Simply paste the appropriate link below into your browser and enter the desired ruling, procedure, or notice number instead of the xx.

For Revenue Rulings-- www.irs.gov/pub/irs-drop/rr-21-xx.pdf
For Revenue Procedures-- www.irs.gov/pub/irs-drop/rp-21-xx.pdf
For Notices-- www.irs.gov/pub/irs-drop/n-21-xx.pdf

The xx must be at least two digits. Thus, Revenue Ruling 5 for 2021 would be: www.irs.gov/pub/irs-drop/rr-21-05.pdf For prior years, change the 21 to the appropriate year (available years vary).

New Additions - Bulletin 52

For the full text of these rulings, go to Internal Revenue Bulletin 2021-52

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

Cumulative Listings - 2021

Revenue Rulings

Rev. Rul. 2021-20 (IRB 2021-51) Sec. 42; low-income buildings; 4-percent applicable percentage; draw-down bond; allocation of housing credit.
Rev. Rul. 2021-24 (IRB 2021-50) Interest rates on underpayments and overpayments; quarter beginning January 1, 2022.
Rev. Rul. 2021-23 (IRB 2021-49) Applicable federal rates; adjusted federal long-term rate; December, 2021.
Rev. Rul. 2021-22 (IRB 2021-47) Sec. 995; taxation of DISC income to shareholders; 2021 base period T-Bill rate.
Rev. Rul. 2021-21 (IRB 2021-44) Applicable federal rates; adjusted federal long-term rate; November, 2021.
Rev. Rul. 2021-19 (IRB 2021-42) Sec. 61; fringe benefits; aircraft valuation formula; SIFL; Standard Industry Fare Level second half 2021.
Rev. Rul. 2021-18 (IRB 2021-40) Applicable federal rates; adjusted federal long-term rate; October, 2021.
Rev. Rul. 2021-17 (IRB 2021-37) Interest rates on underpayments and overpayments; quarter beginning October 1, 2021.
Rev. Rul. 2021-16 (IRB 2021-36) Applicable federal rates; adjusted federal long-term rate; September, 2021.
Rev. Rul. 2021-15 (IRB 2021-35) Sec. 2032A; estate taxes; special use value; farms; interest rates; 2021 interest rates.
Rev. Rul. 2021-14 (IRB 2021-31) Applicable federal rates; adjusted federal long-term rate; August, 2021.
Rev. Rul. 2021-13 (IRB 2021-30) Sec. 45Q; acid-gas removal unit; component of carbon capture.
Rev. Rul. 2021-12 (IRB 2021-27) Applicable federal rates; adjusted federal long-term rate; July, 2021.
Rev. Rul. 2021-10 (IRB 2021-25) Interest rates on underpayments and overpayments; quarter beginning July 1, 2021.
Rev. Rul. 2021-11 (IRB 2021-24) Sec. 61; fringe benefits; aircraft valuation formula; SIFL; Standard Industry Fare Level first half 2021.
Rev. Rul. 2021-9 (IRB 2021-23) Applicable federal rates; adjusted federal long-term rate; June, 2021.
Rev. Rul. 2021-8 (IRB 2021-18) Applicable federal rates; adjusted federal long-term rate; May, 2021.
Rev. Rul. 2021-7 (IRB 2021-14) Applicable federal rates; adjusted federal long-term rate; April, 2021.
Rev. Rul. 2021-6 (IRB 2021-12) Interest rates on underpayments and overpayments; quarter beginning April 1, 2021.
Rev. Rul. 2021-5 (IRB 2021-10) Applicable federal rates; adjusted federal long-term rate; March, 2021.
Rev. Rul. 2021-4 (IRB 2021-6) Applicable federal rates; adjusted federal long-term rate; February, 2021.
Rev. Rul. 2021-3 (IRB 2021-5) Sec. 401; tables of covered compensation.
Rev. Rul. 2021-2 (IRB 2021-4) Deductibility of expenses paid with proceeds from a Paycheck Protection Program loan; Notice 2020-32 and Rev.a Rul. 2020-27 obsoleted.
Rev. Rul. 2021-1 (IRB 2021-2) Applicable federal rates; adjusted federal long-term rate; January, 2021.

Revenue Procedures

Rev. Proc. 2021-54 (IRB 2021-52) Sec. 846; insurance companies; unpaid loss discount factors for 2021 accident year; salvage discount factors.
Rev. Proc. 2021-53 (IRB 2021-51) Sec. 301; 305; publicly offered real estate investment trusts; REITs; publicly offered regulated investment companies; RIC; treatment of certain stock distributions; temporary modification.
Rev. Proc. 2021-52 (IRB 2021-51) Sec. 6694; disclosure on a taxpayer's income tax return adequate for the purpose of reducing the understatement of income tax penalty; tax return preparer penalty; revenue procedure application to returns filed on 2021 tax forms for taxable year beginning in 2021.
Rev. Proc. 2021-43 (IRB 2021-51) Sec. 42; allocation of low-income housing credit; safe harbors for an obligation; more than de minimis.
Rev. Proc. 2021-50 (IRB 2021-49) Partnership returns; Form 1065; amended return and Schedule K-1 furnished to partners as alternative option to filing an administrative adjustment request; AAR.
Rev. Proc. 2021-49 (IRB 2021-49) Paycheck Protection Program Loans; PPP; forgiveness; treatment for partnerships and consolidated groups; allocations under Sec. 704(b); 705; 1502; basis adjustments of stock resulting from forgiven PPP loans, grant proceeds or subsidized payment of certain principal, interest, and fees.
Rev. Proc. 2021-48 (IRB 2021-49) Paycheck Protection Program Loans; PPP; exclusion of forgiveness; timing of treatment of forgiveness.
Rev. Proc. 2021-47 (IRB 2021-48) Reporting requirements; payments made to financially distressed individual homeowners; Homeowner's Assistance Fund; HAF.
Rev. Proc. 2021-45 (IRB 2021-48) Cost-of-living adjustments for 2022; COLA; inflation; individual tax rates; standard deduction; alternative minimum tax exemptions and phasehout; qualified transportation fringe; estate and gift taxes; penalties.
Rev. Proc. 2021-46 (IRB 2021-47) Specifications for private printing of Forms W-2 and W-3 red-ink substitutes for 2021; Rev. Proc. 2020-38 superseded.
Rev. Proc. 2021-42 (IRB 2021-43) Specifications for private printing of certain information returns.
Rev. Proc. 2021-44 (IRB 2021-42) Sec. 42; unused housing credit carryovers allocated for calendar year 2021.
Rev. Proc. 2021-32 (IRB 2021-42) Sec. 6049; information exchange treaty; Chile; Dominican Republic; Singapore; bank deposit interest; Rev. Proc. 2020-15 updated and superseded.
Rev. Proc. 2021-41 (IRB 2021-39) Sec. 842; foreign life, property, and liability insurance companies; domestic asset/liability percentages and deomestic investment yields.
Rev. Proc. 2021-39 (IRB 2021-38) Sec. 147; tax-exempt private activity bonds; public approval requirement; extension to March 31, 2022 time period described in Rev. Proc. 2020-21 and 2020-22.
Rev. Proc. 2021-38 (IRB 2021-38) Sec. 401 pre-approved plans; deadline for adopting interim amendment extended; Rev. Proc. 2016-37 modified.
Rev. Proc. 2021-37 (IRB 2021-38) Sec. 403; procedures for issuing opinion letters concerning satisfaction of Sec. 403 requirement of preapproved plans; second remedial amendment cycle.
Rev. Proc. 2021-36 (IRB 2021-35) Sec. 36B; premium tax credit; applicable percentage table; indexing adjustment for required contribution percentage; eligibility for affordable employer-sponsored minimum essential coverage.
Rev. Proc. 2021-35 (IRB 2021-35) Sec. 451(b); treatment of credit card fees; proportional method of accounting for original issue discount on pool of receivables.
Rev. Proc. 2021-34 (IRB 2021-35) Sec. 446; automatic consent to change methods of accounting; final regulations Secs. 1.451-3, 1.451-8 and 1.1275-2(l); Rev. Proc. 2015-13, 2015-33, 2016-1, 2017-59, and 2021-26 modified.
Rev. Proc. 2021-33 (IRB 2021-34) Exclusion of certain items from gross receipts definition; safe harbor for eligibility for employee retention credit; ERC; forgiveness of Paycheck Protection Program loan; PPP; grant under Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act; restaurant revitalization grant.
Rev. Proc. 2021-31 (IRB 2021-34) Sec. 280F; limitations on depreciation for business use of autos; lease inclusion tables for passenger automobiles; includes trucks and vans.
Rev. Proc. 2021-30 (IRB 2021-31) New benefit overpayment correction methods to avoid seeking recoupment of benefit overpayments made to participants and beneficiaries; elimination of VCPanonymous submission procedure and addition of annonymous, non-fee VCP pre-submission conference procedure; extension of safe-harbor correction method for certain missed elective deferrals.
Rev. Proc. 2021-14 (IRB 2021-30) Sec. 172; net operating loss; NOL; special rules for 2018, 2019. 2020; farming loss; CARES Act; Tax Relief Act of 2020.
Rev. Proc. 2021-24 (IRB 2021-29) Procedure for receiving child tax credit; 2020 recovery rebate credit payments; additional 2020 recovery rebate credit payments; third round economic impact payments; taxpayers not otherwise required to file 2020 federal income tax returns; simplified return; complete returns.
Rev. Proc. 2021-29 (IRB 2021-27) Alternative to administrative adjustment request; AAR; amended Form 1065.
Rev. Proc. 2021-28 (IRB 2021-27) Sec. 168; TCDTRA; 30-year recovery period; ADS; residential rental; held by electing property trade or business; Rev. Proc. 2019-8 modified; Rev. Proc. 2019-43 modified.
Rev. Proc. 2021-27 (IRB 2021-26) Specifications for private printing of certain information returns.
Rev. Proc. 2021-22 (IRB 2021-26) Specifications for substitute Form 941 and related forms; Rev. Proc. 2020-31 superseded.
Rev. Proc. 2021-26 (IRB 2021-22) Controlled foreign corporations; automatic consent to change method of accounting; alternative depreciation system; earnings and profits compuations; Rev. Proc. 2015-13 clarified.
Rev. Proc. 2021-25 (IRB 2021-21) Sec. 223; Health Savings Accounts; HSAs; inflation adjusted amounts; health reimbursement arrangements; HRAs.
Rev. Proc. 2021-23 (IRB 2021-19) Sec. 36B; child tax credit; earned income tax credit; amount of credit revised; percentage table revised for American Rescue Plan Act; Rev. Proc. 2020-45 and Rev. Proc. 2020-36 superseded.
Rev. Proc. 2021-20 (IRB 2021-19) PPP loan; Payroll Protection Program; expenses used to justify loan not deducted on return for taxable year ending on or before December 31, 2020; safe harbor; expenses deductible on first taxable year following.
Rev. Proc. 2021-21 (IRB 2021-17) Sec. 911; foreign earned income exclusion; waiver of time requirements for individuals who must leave a foreign country because of war, civil unrest, or similae adverse conditions; Iraq added to list of waiver countries.
Rev. Proc. 2021-19 (IRB 2021-15) Sec. 25; 143; qualified mortgage bonds; mortgage credit certificates; average median gross income figures.
Rev. Proc. 2021-18 (IRB 2021-15) Sec 139; procedure for extending empowerment zone designation.
Rev. Proc. 2021-17 (IRB 2021-15) Sec. 25; 143; qualified mortgage bonds; mortgage credit certificates; average purchase price of residences; average area purchase price safe harbors.
Rev. Proc. 2021-15 (IRB 2021-8) Sec. 62; educator's deduction; safe harbor; unreimbursed expenses paid o incurred after March 20, 2020; personal protective equipment, disinfecttant, other items to prevent spread of COVID-19.
Rev. Proc. 2021-11 (IRB 2021-6) Sec. 199A; methods for calculating W-2 wages; agricultural or horticultural cooperatives; short taxable years; Rev. Proc. 2019-11 modified.
Rev. Proc. 2021-12 (IRB 2021-5) REMICs and investment trusts; forbearances of mortgage loans; safe harbor in Rev. Proc. 2020-26 and Rev. Proc. 2020-34 deadline extended to September 30, 2021.
Rev. Proc. 2021-10 (IRB 2021-4) Sec. 150; issuer of tax-exempt bonds; request for administrative appeal on proposed adverse determination.
Rev. Proc. 2021-8 (IRB 2021-4) Sec. 501; electronic submission of Form 1024-A; 90-day transition relief period; Rev. Proc. 2021-5 modified.
Rev. Proc. 2021-9 (IRB 2021-3) Sec. 163; trade or business managing a qualified residential living facility; safe harbor treatment as real property trade or business.
Rev. Proc. 2021-7 (IRB 2021-1) Areas of IRC under jurisdiction of Associate Chief Counsel (International); IRS will not issue rulings.
Rev. Proc. 2021-5 (IRB 2021-1) 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. 2021-4 (IRB 2021-1) Revised procedures; determination letters and letter rulings issued by the Commissioner; Tax Exempt and Government Entities; Employee Plans Rulings and Agreements; Rev. Procs. 2020-4 updated.
Rev. Proc. 2021-3 (IRB 2021-1) 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. 2020-3 superseded.
Rev. Proc. 2021-2 (IRB 2021-1) Procedures for Technical advice memoranda; TAMS; taxpayer rights when field office requests TAMS; Rev. Proc. 2020-2 superseded.
Rev. Proc. 2021-1 (IRB 2021-1) 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. 2020-1 superseded.

Regulations

T.D. 9958 (IRB 2021-49) Consolidated Appropriates Act; transparency requirements; group health and health insurance plans; report information about prescription drugs and health care spending.
T.D. 9955 (IRB 2021-42) Ambulance services; group health plans; nonparticipating providers; No Surprises Act.
T.D. 9957 (IRB 2021-41) Estate tax closing letter; user fee for issuing IRS Letter 627; $67.
T.D. 9956 (IRB 2021-41) Sec. 250; 951A; qualified improvement property; qualified business asset investment; alternative depreciation system; net operating loss carrybacks.
T.D. 9953 (IRB 2021-39) Recapture of excess employment tax credits under American Rescue Plan Act of 2021; refundable sick pay and family leave and employee retention credits; collection of erroneous refunds in normal course of processing employment tax returns.
T.D. 9952 (IRB 2021-39) Taxpayer first Act; modification of final regulations; persons who may provided books, papers, records or other data obtained under Sec. 7602 for expert evaluation and assistance to the IRS.
T.D. 9951 (IRB 2021-30) No Surprises Act; protection for consumers from surprise medical bills; emergency services; etc.
T.D. 9950 (IRB 2021-26) Sec. 165; 7508A; mandatory postponements of time to perform time-sensitive tax acts; federally declared disaster; mandatory 60-day period; either major disaster or emergency under Stafford Act.
T.D. 9944 (IRB 2021-16) Sec. 45Q; carbon dioxide sequestration; credit.
T.D. 9938 (IRB 2021-7) Sec. 4960; remuneration in excess of $1 million; excess parachute payments; excise tax; tax-exempt organizations.
T.D. 9948 (IRB 2021-6) Excise taxes imposed on amounts paid for transportation of persons and property by air.
T.D. 9947 (IRB 2021-6) Sec. 199A; 1381 through 1388; cooperatives and patrons; Sec. 199A; qualified business income; QBI; agricultural and horticultural cooperatives.
. T.D. 9946 (IRB 2021-6) Sec. 162; 6050X; TCJA; deduction of certain fines, penalties, and other amounts; information reporting.
T.D. 9945 (IRB 2021-5) Sec. 1061; rechacterization of certain net long-term capital gains of a partner; carried interest.
T.D. 9943 (IRB 2021-5) Sec. 163; limitation on the business interest expense deduction; TCJA changes and Coronavirus Aid, Relief, and Economic Security Act; limitation application to consolidated group.
T.D. 9936 (IRB 2021-5) Sec. 1291; 1297; 1298; determination of owenership in a pasive foreign investment company; treatment of certain income of foreign corporation.
T.D. 9937 (IRB 2021-4) Sec. 402; TCJA; extended rollover period for a qualified plan loan offset.
T.D. 9942 (IRB 2021-3) Sec. 262A; 448; 460; 471; TCJA; simplification of application of tax accounting provisions; business with average gross receipts of $25 million or less (indexed for inflation); special accounting rules for long-term contracts
T.D. 9941 (IRB 2021-3) Sec. 451; TCJA; timing of income inclusion for accrual method taxpayers with an applicable financial statement; treatment of advance payments.
T.D. 9939 (IRB 2021-3) Sec. 274; amendments by TCJA; elimination of deduction for certain transportation and commuting benefits provided by employers; exceptions.
T.D. 9932 (IRB 2021-3) Sec. 162; $1,000,000 allowable deduction for employee remuneration with respect to covered employee; publicly held corporation; TCJA amendments; grandfather rule.
T.D. 9940 (IRB 2021-2) Procedures used by IRS to handle misdirected direct deposit tax refunds; procedure for taxpayers who believe direct deposit refund is missing.
T.D. 9925 (IRB 2021-2) Sec. 274; elimination of deduction for entertainment expenses paid or incurred in taxable years beginning after December 31, 2017; distinguishing entertainment expenses from meal and beverage expenses; exception to rule.

Proposed Regulations

REG-109128-21 (IRB 2021-51) Minimum essential coverage; does not include Medicaid coverage that is limited to COVID-19testing and diagnostic services provided under Families First Coronavirus Response Act; statements regarding coverage be employers; extension of time to furnish statements.
REG-117575-21 (IRB 2021-49) Consolidated Appropriates Act; transparency requirements; group health and health insurance plans; report information about prescription drugs and health care spending.
REG-107707-21 (IRB 2021-42) Certain requirements regarding implementation of the protections against balance billing; No Surprises Act.
REG-100718-21 (IRB 2021-42) Enrolled agents and enrolled retirement plan agents; user fees for special enrollment examinations; $99 per part.
REG-109077-21 (IRB 2021-39) Recapture of excess employment tax credits under American Rescue Plan Act of 2021; refundable sick pay and family leave and employee retention credits; collection of erroneous refunds in normal course of processing employment tax returns.
REG-102951-16 (IRB 2021-32) Rules for filing certain returns and statements electronically; changes made by Taxpayer First Act of 2019; earlier proposed regulations withdrawn regarding whether information returns must be filed electronically; aggregation rule.
REG-107706-21 (IRB 2021-30) No Surprises Act; protection for consumers from surprise medical bills; emergency services; etc.
REG-121095-19 (IRB 2021-18) Opportunity Zone; OZ; requirements that foreign persons and foreign-owned partnerships must meet to defer capital gains; working capital safe harbor; Federally declared disasters.
REG-111950-20 (IRB 2021-5) Sec. 1291; 1297; 1298; determination of owenership in a pasive foreign investment company; treatment of certain income of foreign corporation.
REG-115057-20 (IRB 2021-5) Sec. 165; 7508A; mandatory postponements of time to perform time-sensitive acts by reason of federally declared disaster; discrection of Secretary of Treasury to determine time-sensitive acts postponed for the mandatory 60-day period.
REG-114615-16 (IRB 2021-3) New user fee for IRS Letter 627; estate tax closing letter.
REG-130081-19 (IRB 2021-2) Grandfathered group health plans and grandfathered group health insurance coverage; amended rules to provide greater flexibility; changes to certain cost sharing requirements.

Notices

Notice 2021-66 (IRB 2021-52) Sec. 4672; 4662; initial list of taxable substances; Infrastructure Investment and Jobs Act; exemption for certain sales; Notice 89-61 suspended.
Notice 2021-65 (IRB 2021-51) Sec. 3134; retroactive termination of employee retention credit in fourth quarter of 2021; employers who took advance credit.
Notice 2021-64 (IRB 2021-50) List of requirement amendments to pension plans for 2021; qualified individually designed plans.
Notice 2021-63 (IRB 2021-49) Sec. 274; 100-percent deduction for food and beverages paid after December 31, 2020 anhd before January 1, 2023; meal portion of per diem rate provided by a restaurant.
Notice 2021-62 (IRB 2021-49) Corporate bond monthly yield curve November 2021; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2021-61 (IRB 2021-47) Sec. 415; dollar limitations on benefits and contributions under qualified retirement plans; pensions; IRAs; compensation; Roth; cost-of-living increase; inflation adjustments for 2022.
Notice 2021-35 (IRB 2021-46) Sec. 45Q; carbon sequestration credit for 2021; inflation adjustment.
Notice 2021-60 (IRB 2021-45) Corporate bond monthly yield curve October 2021; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2021-56 (IRB 2021-45) Sec. 501; limited liability company; LLC; standards that must be met for determination letter recognizing tax-exempt status.
Notice 2021-57 (IRB 2021-44) Sec. 431, 432; multiemployer defined benefit pension plan sponsors and actuaries; American Rescue Plan Act.
Notice 2021-59 (IRB 2021-43) Sec. 987; intention to amend regulations and defer applicability for one additional year.
Notice 2021-58 (IRB 2021-43) Electing COBRA; extension of timeframes; EBSA Disaster Notice; elections and payments of COBRA premiums.
Notice 2021-55 (IRB 2021-41) Sec. 1033; Disposition of livestock on account of drought; extension of four-year replacement period; list of counties that experienced exceptional, extreme or severe drought; 12-month period ended August 2021.
Notice 2021-54 (IRB 2021-41) Corporate bond monthly yield curve September 2021; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2021-53 (IRB 2021-39) Guidance to employers; requirement to report amount of qualified sick leave wages and qualified family leave wages paid to employees under Families First Coronavirus Response Act; report amounts either on Form W-2 Box 14 or on separate statement; reporting for employees who are also self-employed to claim qualified six leave and family leave equivalent.
Notice 2021-52 (IRB 2021-38) Optional per-diem rates;for 2021-2022; business expenses while away from home; special transportation industry rates; high-low cost localities; correction of portion of year Sedona Arizona is high-cost under Notice 2020-71.
Notice 2021-51 (IRB 2021-36) Sec. 1446; IRS intends to amend certain regulations under Secs. 1446(a) and 1446(f) to defer the applicability date to January 1, 2023; transfers of interests in publicly traded partnerships; PTP; withholding.
Notice 2021-50 (IRB 2021-35) Corporate bond monthly yield curve August 2021; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2021-43 (IRB 2021-35) Sec. 51; Work Opportunity Tax Credit; WOTC; transition relief; additional time to submit certification request to a Designated Local Agency.
Notice 2021-49 (IRB 2021-34) Sec. 3134; guidance on employee retention credit; ERC; qualified wages paid after June 30, 2021 and before January 1, 2022; miscellaneous issues; Notices 2021-20 and 2021-23 amplified.
Notice 2021-48 (IRB 2021-33) Sec. 430; guidance on changes to funding rules single-employer defined benefit pension plans; American Rescue Plan Act of 2021.
Notice 2021-46 (IRB 2021-33) Guidance on American Rescue Plan Act of 2021; premium assistance for COBRA; various changes.
Notice 2021-47 (IRB 2021-32) Enhanced oil recovery credit; inflation adjustment factor; phase-out amount; 2021 calendar year.
Notice 2021-45 (IRB 2021-31) Sec. 42; Low-income housing credits; populations residing in a qualified disaster area.
Notice 2021-44 (IRB 2021-31) Corporate bond monthly yield curve July 2021; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2021-38 (IRB 2021-30) Sec. 402; 432; multiemployer defined benefit pension plans required to reinstate certain previously suspended benefits; rollove of suspended benefits.
Notice 2021-42 (IRB 2021-29) Sec. 170; federal income and employment tax treatment in Notice 2020-46 extended; cash payments to charitable organizations after December 31, 2020 and before January 1, 2022; leave based donation programs.
Notice 2021-41 (IRB 2021-29) Sec. 45; 48; beginning of construction; Continuity Safe Harbor to Address Delays Related to COVID-19; clarification of continuity requirement.
Notice 2021-40 (IRB 2021-28) Sec. 401; extension of two types of relief from physical presence requirements for participant elections required to be witnessed.
Notice 2021-39 (IRB 2021-27) Transition penalty relief for taxable years that begin in 2021 for new Scheules K-2 and K-3 of Forms 1065 and 1120-S. Notice 2021-37 (IRB 2021-26) Corporate bond monthly yield curve June 2021; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2021-36 (IRB 2021-26) Sec. 59A; 6038A; notice to amend regulations; defer applicability date of certain provisions; reporting of qualified derivative payments until taxable years on or after January 1, 2023.
Notice 2021-34 (IRB 2021-23) Sec. 45I; natural gas production from qualified marginal wells; marginal well production credit.
Notice 2021-33 (IRB 2021-23) Corporate bond monthly yield curve May 2021; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2021-31 (IRB 2021-23) COBRA; temporary premium assistance; loss of coverage resulting from reduction in hours or involuntary termination of employment.
Notice 2021-32 (IRB 2021-21) Sec. 45; inflation adjustment factors; renewable electricity production credit; renewable electricity production credit; refined coal production credit.
Notice 2021-26 (IRB 2021-21) Dependent care benefits; benefits excluded from income in used during preceding year; 2020 and 2021; excludable 2021 and 2022; limits under Sec. 129.
Notice 2021-30 (IRB 2021-19) Sec. 613; percentage depletion on marginal properties.
Notice 2021-29 (IRB 2021-19) Sec. 43; 45; referenc price; oil recovery credit: marginal well production credit; percentage depletion from marginal properties.
Notice 2021-28 (IRB 2021-18) Request for public recommendations; published guidance projects; 2021-2022 Priority Guidance Plan.
Notice 2021-27 (IRB 2021-18) Corporate bond monthly yield curve April 2021; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2021-24 (IRB 2021-18) Sec. 6656; penalty relief; employer's failure to timely deposit employment taxes; employers required to pay qualified sick wages and qualified family leave wages; Notice 2020-22 amplified.
Notice 2021-25 (IRB 2021-17) Food and beverages provided by a restaurant; when 100-percent deduction and when 50-percent deduction continues to apply.
Notice 2021-23 (IRB 2021-16) Employee retention credit; qualified wages paid after December 31, 2020 and before July 1, 2021; Notice 2021-20 amplified.
Notice 2021-22 (IRB 2021-15) Corporate bond monthly yield curve March 2021; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2021-21 (IRB 2021-15) Sec. 7508A; guidance on postponement of Federal income tax filings and payments from April 15, 2021 to May 17, 2021; postponement of other forms.
Notice 2021-17 (IRB 2021-14) Clarification of Notice 2021-12; more precise citation.
Notice 2021-20 (IRB 2021-11) Employee retention credit; as amended by Taxpayer Certainty and Disaster Tax Relief Act of 2020; Paycheck Protection Program loans.
Notice 2021-19 (IRB 2021-11) Sec. 42; state housing credit; housing credit ceiling; private activity bond volume cap.
Notice 2021-18 (IRB 2021-11) Sec. 911; adjustments to limitation on housing expenses for 2021.
Notice 2021-16 (IRB 2021-10) Corporate bond monthly yield curve February 2021; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2021-15 (IRB 2021-10) Sec. 125; health flexible spending arrangements; FSAs; dependent care assistance program; carryover of unused portion; Taxpayer Certainty and Disaster Tax Relief Act of 2020.
Notice 2021-10 (IRB 2021-7) Sec. 7508A; 1400Z; qualified opportunity funds; QOFs; addtional relief; 180-day investment requirement; 30-month substantial improvement period; Notice 2020-39 relief extended.
Notice 2021-13 (IRB 2021-6) Relief for partnerships from certain penalties due to inclusion of incorrect information in reporting partners' beginning capital account balances on 2020 K-1.
Notice 2021-12 (IRB 2021-6) Sec. 42; 142; 147; extension of temporary relief; qualified low-income housing project; Notice 2020-53 amplified.
Notice 2021-11 (IRB 2021-6) Deferral of employee's portion of Social Security taxes from September 1, 2020 to December 31, 2020; extension of date for repayment; Notice 2020-65 modified.
Notice 2021-8 (IRB 2021-6) Sec. 6654; waiver of addition to tax for underpayment of estimated tax; underpayment attributable to amendment of Sec. 461 made by CARES Act; relief not automatic.
Notice 2021-6 (IRB 2021-6) 1099 Series Forms; waiver of requirements; specified grants, payments, subsidies and loan forgiveness excludable from income under various COVID-19 relief acts.
Notice 2021-9 (IRB 2021-5) Corporate bond monthly yield curve December 2020; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2021-7 (IRB 2021-3) Automobile lease valuation rule for income inclusion of personal use of vehicle; temporary relief in response to pandemic to revert to cents-per-mile valuation and vice versa.
Notice 2021-5 (IRB 2021-3) Sec. 45; 48; Extension of Continuity Safe Harbor for Offshore Projects and Federal Land Projects.
Notice 2021-2 (IRB 2021-3) Standard mileage rates for 2021; operation of motor vehicle for business, charitable, and medical or moving purposes; fixed and variable rate; FAVR; maximum fair market value for fleet-average valuation or cents-per-mile valuation rule.
Notice 2021-4 (IRB 2021-2) Dyed fuel relief; Milwaukee or Madison terminal; final extension; Notice 2017-30; Notice 2018-39; Notice 2019-04.
Notice 2021-3 (IRB 2021-2) Sec. 401; Notice 2020-42; 6-month extension physical presence test for participant elections required to be witnessed by plan representative.
Notice 2021-1 (IRB 2021-2) Private foundations; electronic filing of Form 4720; private foundations may no longer rely on Reg. Sec. 53.6011-1(c).

Announcements

Announcement 2021-19 (IRB 2021-52) Republic of Malta; Competent Authority Arrangement; pension or other retirement arrangements; Maltese personal retirement schemes; treaty benefits.
Announcement 2021-18 (IRB 2021-52) 6652; Announcement 2001-33 revoked; tax-exempt organizations; instructions to follow; annual information returns; Form 990.
Announcement 2021-17 (IRB 2021-51) Sec. 501; organizations no longer qualifying as 501(c)(3) organizations where contributions are deductible.
Announcement 2021-16 (IRB 2021-50) Office of Professional Responsibility; OPR; disciplinary sanctions.
Announcement 2021-15 (IRB 2021-49) Sec. 501; revocation of 501(c)(3) organizations for failure to meet code section requirements; contributions no longer deductible.
Announcement 2021-14 (IRB 2021-33) Competent Authority Arrangement; United Kingdom.
Announcement 2021-13 (IRB 2021-33) Competent Authority Arrangement; United Kingdom.
Announcement 2021-12 (IRB 2021-31) Office of Professional Responsibility; OPR; disciplinary sanctions.
Announcement 2021-11 (IRB 2021-23) Competent Authority Arrangement; Switzerland; Swiss pension and retirement arrangements; individual retirement plans.
Announcement 2021-10 (IRB 2021-22) Qualified opportunity tax credit; new or updated census tract boundaries and numbers; no effect on opportunity zone credits.
Announcement 2021-9 (IRB 2021-20) Notification that no articles were submitted for publication in IRB 2021-20.
Announcement 2021-8 (IRB 2021-18) Office of Professional Responsibility; OPR; disciplinary sanctions.
Announcement 2021-7 (IRB 2021-15) Sec.213; Amounts paid for personal protective equipment (PPE) deductible as medical expense; reimbursable under health flexible spending arrangements and health reimbursement arrangements.
Announcement 2021-6 (IRB 2021-15) Notification of Advance Pricing Agreement Program and Mutual Agreement Program; advance pricing agreements.
Announcement 2021-5 (IRB 2021-13) Competent Authority Agrrangement; U.S. and Japan; avoidance of double taxation; prevention of fiscal evasion with respect to taxes.
Announcement 2021-4 (IRB 2021-9) Notification that no articles were submitted for publication in IRB 2021-9.
Announcement 2021-3 (IRB 2021-8) Office of Professional Responsibility; OPR; disciplinary sanctions.
Announcement 2021-2 (IRB 2021-8) Subsidized loan payments reported on Form 1099-MISC; file and furnish corrected forms excluding payments; waiver of reporting requirements.
Announcement 2021-1 (IRB 2021-4) Competent Authority Agrrangement; U.S. and Italy; remuneration paid by U.S. to U.S. citizens or dual nationals who are residents of Italy rendering services to the U.S. embassies and consulates in Italy.

Action On Decision

Action on Decision 2021-4 (IRB 2021-47) Nonacquiescence as to holding; Mayo Clinic; Sec. 1.170A; primary function of educational organization.
Action on Decision 2021-3 (IRB 2021-24) Nonacquiescence to holdings; Gevity, Sec. 3401; TriNet Group, Inc. 979 F.3d 1311.
Action on Decision 2021-2 (IRB 2021-21) Nonacquiescence; Machacek, 906 F.3d 429.
Action on Decision 2021-1 (IRB 2021-15) Nonacquiescence; Schieber, T.C. Memo. 2017-32.

Links to Individual Bulletins

Copyright 2021 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 12/30/21