IRS Pronouncements--2023


Small Business Taxes & ManagementTM--Copyright 2023, 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, 2023. Please note. Revenue Rulings, Procedures, etc. are not always released in strict numerical order. For a similar listing for prior years, go to:

IRS Pronouncements--2022
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.

For Revenue Rulings-- www.irs.gov/pub/irs-drop/rr-23-xx.pdf
For Revenue Procedures-- www.irs.gov/pub/irs-drop/rp-23-xx.pdf
For Notices-- www.irs.gov/pub/irs-drop/n-23-xx.pdf

The xx must be at least two digits. Thus, Revenue Ruling 5 for 2023 would be: www.irs.gov/pub/irs-drop/rr-23-05.pdf   For prior years, change the 23 to the appropriate year (available years vary).

New Additions - Bulletin 22

Rev. Proc. 2023-23 (IRB 2023-22) Sec. 223; Health Savings Accounts; HSAs; inflation adjusted maximum contribution for 2024; health reimbursement arrangements; HRAs

Notice 2023-40 (IRB 2023-22) Corporate bond monthly yield curve May 2023; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2023-39 (IRB 2023-22) Sec. 103; 148; intention to issue proposed regulations; exception to arbitrae investment restrictions; tax-exempt bonds; perpetual trust funds.
Notice 2023-38 (IRB 2023-22) General rules for domestic content bonus credit amounts; manufactured product adjusted percentage rule; safe harbor for certain components; retrofited projects; energy projects; energy storage.

For the full text of these rulings, go to Internal Revenue Bulletin 2023-22

 

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

Cumulative Listings - 2023

Revenue Rulings

Rev. Rul. 2023-9 (IRB 2023-19) Applicable federal rates; adjusted federal long-term rate; May, 2023.
Rev. Rul. 2023-8 (IRB 2023-18) Deductibility of research or experimental expenditures for taxable years where expense method applicable; Rev. Rul. 58-74 obsolete.
Rev. Rul. 2023-2 (IRB 2023-16) Sec. 1014; basis adjustment on death of asset owner does not apply to assets of irrevocable grantor trust if assets not included in grantor's gross estate.
Rev. Rul. 2023-7 (IRB 2023-15) Sec. 61; fringe benefits; terminal charge; aircraft valuation formula; SIFL; Standard Industry Fare Level first half 2023.
Rev. Rul. 2023-6 (IRB 2023-14) Applicable federal rates; adjusted federal long-term rate; April, 2023.
Rev. Rul. 2023-4 (IRB 2023-10) Applicable federal rates; adjusted federal long-term rate; March, 2023.
Rev. Rul. 2023-4 (IRB 2023-9) Interest rates on underpayments and overpayments; quarter beginning April 1, 2023.
Rev. Rul. 2023-3 (IRB 2023-6) Applicable federal rates; adjusted federal long-term rate; February, 2023.
Rev. Rul. 2023-1 (IRB 2023-1) Applicable federal rates; adjusted federal long-term rate; January, 2023.

 

Revenue Procedures

Rev. Proc. 2023-23 (IRB 2023-22) Sec. 223; Health Savings Accounts; HSAs; inflation adjusted maximum contribution for 2024; health reimbursement arrangements; HRAs
Rev. Proc. 2023-12 (IRB 2023-19) Sec. 143; 25; issuers of qualified mortgage bonds; mortgage credit certificates; average purchase prices for residences; average area purchase price safe harbors for residences.
Rev. Proc. 2023-21 (IRB 2023-19) Sec. 842; domestic asset/liability percentages; investment yields needed by foreign life and property and liability insurance companies; minimum effectively connected net investment income.
Rev. Proc. 2023-15 (IRB 2023-18) Natural gas transmission and distribution property; safe harbor method of accounting; capitalize or expense repairs, maintenance, replacement, improvements; linear vs. non-linear property.
Rev. Proc. 2023-12 (IRB 2023-17) Form 8950; electronic submission process; 90-day transition relief period; Rev. Proc. 2023-5 modified.
Rev. Proc. 2023-20 (IRB 2023-15) Sec. 4672; list of taxable substances; Rev. Proc. 2022-26 modified.
Rev. Proc. 2023-19 (IRB 2023-13) Sec. 911; U.S. citizens living and working abroad; bona fide physical presence test; Ethiopia, Iraq, Ukraine, Belarus, China and Mali added to the list of waiver countries for 2022.
Rev. Proc. 2023-18 (IRB 2023-13) Certified Professional Employer Organization; CPEO; requirements for applying and to remain certified; Rec. Procs. 2016-33 and 2017-14; modified and superseded.
Rev. Proc. 2023-17 (IRB 2023-13) Sec. 4980H; indexed adjustments to calculate employer shared responsibility payments.
Rev. Proc. 2023-13 (IRB 2023-13) Specifications for substitute Form 841; Schedule B, D; Rev. Proc. 2022-15 superseded.
Rev. Proc. 2023-9 (IRB 2023-7) Sec. 446; 460; 461; 481; new rules and conditions for implementing the optional safe harbor method of account for real estate developers; when common improvement costs may be included in basis; determining gain or loss; Rev. Proc. 92-29 obsoleted.
Rev. Proc. 2023-14 (IRB 2023-6) Sec. 280F; depreciation limits passenger automobiles (including trucks and vans); lease income inclusion amount.
Rev. Proc. 2023-11 (IRB 2023-3) Sec. 446; automatic consent to change methods of accounting for specified research or experimental expenditures; comply with Sec. 174; Rev. Proc. 2023-8 modified and superseded.
Rev. Proc. 2023-10 (IRB 2023-3) Sec. 832; 846; insurance companies; loss payment patterns for 2022 determination year; discount factors for 2022 accident year; unpaid losses.
Rev. Proc. 2023-8 (IRB 2023-3) Sec. 446; automatic consent to change methods of accounting for specified research or experimental expenditures; comply with Sec. 174; Rev. Proc. 2022-14 modified.
Rev. Proc. 2023-7 (IRB 2023-1) Areas in which rulings will not be issued, Associate Chief Counsel (International).
Rev. Proc. 2023-5 (IRB 2023-1) Procedures for isuing determination letters on issues under the jurisdiction of Director, Exempt Organizations; user fees for requests.
Rev. Proc. 2023-4 (IRB 2023-1) Update of Rev.Proc. 2022-4; types of advice the IRS to taxpayers on issues under the Commissioner, Tax Exempt and Government Entities Division, Employee Plans Rulings and Agreements and procedures for letter rulings and determination letters.
Rev. Proc. 2023-3 (IRB 2023-1) Revised list of areas under Associated Chief Counsel (Corporate, Financial institutions and Products, Income Tax and Accounting, Passthroughs and Special Industries, Procedure and Administration, and Employee Benefits, Exempt Organizations and Employment Taxes) on which the Service will not issue letter rulings or determination letters; Rev. Proc. 2022-3 superseded.
Rev. Proc. 2023-2 (IRB 2023-1) Procedures for Technical advice memoranda; TAMS; taxpayer rights when field office requests TAMS; Rev. Proc. 2022-2 superseded.
Rev. Proc. 2023-1 (IRB 2023-1) 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. 2021-1 superseded.

 

Regulations

T.D. 9973 (IRB 2023-11) Sec. 951; treat members of a consolidated group as a single U.S. shareholder in certain purposes.
T.D. 9972 (IRB 2023-11) Amending rules for filing certain returns and statements electronically; changes made by Taxpayer First Act of 2019.
T.D. 9971 (IRB 2023-3) Withholding on sale of United States real property interest from foreign person; foreign pension funds which are exempt.
T.D. 9970 (IRB 2023-2) Automatic extension of time for providers of minimum essential coverage; health insurance agencies, self-insured employers, government agencies; to firnish statements regarding such coverage and an alternative method for furnishing statementments; automatic extension for applicable large employers (50 or more employees).

 

Proposed Regulations

REG 124064-19 (IRB 2023-21) Sec. 367; transfer of tangible property to a related foreign corporation; deemed income inclusion in certain cases.
REG 121709-19 (IRB 2023-17) Supervisor approval of penalties; uncertainty caused by recent court decisions.
REG 109309-22 (IRB 2023-17) Sec. 6011; 6111; 6112; micro-captive transactions; listed transactions; transactions for interest; reporting requirements; material advisors.
REG 120080-22 (IRB 2023-16) Sec. 30D; credit for clean vehicles; rules for claiming the credit.
REG 105954-22 (IRB 2023-16) Sec. 4661; 4662; 4671; 4672; Superfund chemical taxes; excise tax on sale or use of taxable substances by importers; reinstatement of provision.
REG 120653-22 (IRB 2023-15) Sec. 48D; advanced manufacturing credit; CHIPS Act; incentivize manufacture of semiconductors and semiconductor manufacturing equipment in U.S.
REG 122286-18 (IRB 2023-11) Rules relating to the forfeitures in qualifed retirement plans; deadline for use in defined contribution plans; use of forfeiture amounts.
REG 114666-22 (IRB 2023-4) Sec. 401; participant election rules; alternatives to the physical presence requirement; witnessing spousal consent.
REG 100442-22 (IRB 2023-3) Sec. 892; 897; limited exemption from taxation for foreign governments; foreign person taxed on gain on sale of U.S. real estate; REITs and RICs; when qualified investment entity domestically controlled.
REG 146537-06 (IRB 2023-3) Sec. 892; IRS reopening comment period for REG-146537-06; exemption from taxation afforded foreign governments.

 

Notices

Notice 2023-40 (IRB 2023-22) Corporate bond monthly yield curve May 2023; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2023-39 (IRB 2023-22) Sec. 103; 148; intention to issue proposed regulations; exception to arbitrae investment restrictions; tax-exempt bonds; perpetual trust funds.
Notice 2023-38 (IRB 2023-22) General rules for domestic content bonus credit amounts; manufactured product adjusted percentage rule; safe harbor for certain components; retrofited projects; energy projects; energy storage.
Notice 2023-36 (IRB 2023-21) 2023-2024 Priority Guidance Plan; recommendations solicited.
Notice 2023-33 (IRB 2023-18) Corporate bond monthly yield curve April 2023; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2023-30 (IRB 2023-17) Charitable contributions; contribution of property easement; safe harbor deed language for extinguishment and boundary line adjustment clauses required under SECURE 2.0 Act; process to amend language.
Notice 2023-31 (IRB 2023-16) Sec. 903; extension of transition period from May 17, 2023 to 180 day8s after final regulations filed with Federal Register; single country exception; royalties for use of intellectual property.
Notice 2023-28 (IRB 2023-15) Sec. 4661; 4671; Superfund chemical taxes; failure to deposit penalty; deposit safe harbor rules; relief under Notice 2022-15 extended.
Notice 2023-27 (IRB 2023-15) Sec. 408; collectibles; nonfungible tokens; NFTs; also applies to long-term capital gain treatment. Notice 2023-19 (IRB 2023-14) Corporate bond monthly yield curve March 2023; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2023-26 (IRB 2023-13) Sec. 911; adjustment to limitation on housing expenses for taxpayers living and working abroad; adjusted amounts applicable to 2022 tax year.
Notice 2023-24 (IRB 2023-13) Sec. 45J; general rules for determining the credit for production from advanced nuclear power facilities; unutilized national megawatt capacity limitation.
Notice 2023-23 (IRB 2023-13) Sec. 401; guidance to financial institutiions on reporting required minimum distributions; RMD.
Notice 2023-22 (IRB 2023-12) Sec. 42; 142; 146; resident populations of the 50 states, D.C. Puerto Rico; state housing credit ceiling; private activity bond volume cap.Notice 2023-21 (IRB 2023-11) Sec. 7508A; postponement of lookback period under Sec. 6511 for certain taxpayers to file a claim for refund; alings lookback perids with the postponed 2020 and 2021 tax return filing due dates.
Notice 2023-19 (IRB 2023-11) Corporate bond monthly yield curve Feb 2023; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2023-20 (IRB 2023-10) Interim guidance to insurance companies; adjusted financial statement income; AFSI; corporate alternative minimum tax.
Notice 2023-18 (IRB 2023-10) Sec. 48C; allocation of $10 billlon of Sec. 48C credits; certain energy communities.
Notice 2023-17 (IRB 2023-10) Sec. 48; program to allocate environmental justice solar and wind capacity limitation.
Notice 2023-16 (IRB 2023-7) Notice changes vehicle classification standard for vans, sport utility vehicles, pickup trucks and other vechicles; Notice 2023-1 modified.
Notice 2023-13 (IRB 2023-6) Notice of proposed revenue procedure; Service Industry Tip Compliance Agreement; SITCA; voluntary tip reporting program; service industry including gaming; replacing Employer-Designed Tip Reporting Program; EmTRAC.
Notice 2023-11 (IRB 2023-6) Corporate bond monthly yield curve January 2023; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2023-11 (IRB 2023-3) FACTA reporting relief to Model 1 FFIs who have not been ab le to obtain U.S. TINs for pre-oexisting accounts.
Notice 2023-10 (IRB 2023-3) Third party settlement organizations; TPSO; trnasition period for purposes of enforcement and administration; modified de minimis exception; $20,000 amount and 200 transaction threshold.
Notice 2023-9 (IRB 2023-3) Sec. 45W; Commercial clean air vehicles; incremental cost of manufactureed vehicles; $7,500.
Notice 2023-7 (IRB 2023-3) Corporate alternative minimum tax; forthcoming aregulations; special rules; consolidated returns; depreciation of Sec. 168 property; determining "applicable" corporation.
Notice 2023-3 (IRB 2023-3) Sec. 61; optional standard mileage rates for computing cost of operating an auto for business, medical, anc charitable purposes; depreciation assumed taken; maximum standard auto cost for fixed and variable plan.
Notice 2023-2 (IRB 2023-3) Sec. 4501; stock repurchase excise tax; M&A transactions; accelerated stock repurchases; compensatory stock awards; how to report and pay the excise tax.
Notice 2023-1 (IRB 2023-3) Sec. 30D; expected content of regulations; definitions of terms including final assembly, North America; classification for categories of vehicles.
Notice 2023-8 (IRB 2023-2) Sec. 1446; withholding onm the transfer of an interest in a publicly traded partnership; PTP; guidance to brokers.
Notice 2023-6 (IRB 2023-2) Sec. 34, 38, 40B, 87, 6426, 6427; sustainable aviation fuel credits; credit and payment rules.
Notice 2023-5 (IRB 2023-2) Corporate bond monthly yield curve December 2022; Sec. 417; 430; interest rate on 30-year Treasury securities.
Notice 2023-4 (IRB 2023-2) No Surprises Act; qualifying payment amount; QPA; indexing factors for group health plans and health insurance issuers; certain out-of-network items or services to patients.

 

Announcements

Announcement 2023-15 (IRB 2023-21) Sec. 501; organizations no longer qualifying as 501(c)(3) for failure to meet code section requirements; contributions by individual donors no longer deductible.
Announcement 2023-16 (IRB 2023-20) IRS will no longer conduct public hearings on proposed rulemaking solely by telephone; telephonic option still available.
Announcement 2023-14 (IRB 2023-19) Sec. 501; organizations no longer qualifying as 501(c)(3) for failure to meet code section requirements; contributions by individual donors no longer deductible.
Announcement 2023-13 (IRB 2023-18) Office of Professional Responsibility; OPR; disciplinary sanctions.
Announcement 2023-12 (IRB 2023-17) Form 3115 Application for Change in Accounting Method; has been revised; guidance on reasonable amount of time to transition December 2022 version.
Announcement 2023-11 (IRB 2023-17) Sec. 6011; notice of proposed regulation; certain micro-captive insurance transactions are listed transactions.
Announcement 2023-7 (IRB 2023-17) Federal civilian employees not employed by Federal government who received certain payments in 2022from Department of Defense as reimbursement for lodguing, meals, etc. after release of petroleum from storage facility in Hawaii; payments excludable under Sec. 139.
Announcement 2023-10 (IRB 2023-16) Annual reporting concerning advance pricing agreements (APA) and Advance Pricing and Mutual Agreement Program (APMA).
Announcement 2023-9 (IRB 2023-15) Sec. 501; organizations no longer qualifying as 501(c)(3) for failure to meet code section requirements; contributions by individual donors no longer deductible.
Announcement 2023-8 (IRB 2023-14) Sec. 501; organizations no longer qualifying as 501(c)(3) for failure to meet code section requirements; contributions by individual donors no longer deductible.
Announcement 2023-6 (IRB 2023-8) IRS to issue opinion letters on plre-approved defined benefit plansthat were updated for changes in plan qualification requirements in Notice 2020-14.
Announcement 2023-5 (IRB 2023-8) Office of Professional Responsibility; OPR; disciplinary sanctions.
Announcement 2023-4 (IRB 2023-7) Sec. 501; organizations no longer qualifying as 501(c)(3) for failure to meet code section requirements; contributions by individual donors no longer deductible.
Announcement 2023-3 (IRB 2023-3) Notification that there were no articles submitted for publication in IRB 2023-5.
Announcement 2023-1 (IRB 2023-3) Sec. 179D; energy efficient commercial building property deduction; new reference standard.
Announcement 2023-2 (IRB 2023-2) Sec. 6045, 6045A; rules regarding the reporting of information on digital assets by brokers; report based on existing law; no change until new final regulations issued.

 

Action On Decision

Action on Decision 2023-2 (IRB 2023-11) Issue 1-nonacquiescence to conclusion that failure to report transactions fully or consistently should not be a major factor for taxpayer to disavow form of transctions; Issue 2-nonacquiescence to dtermination that the fair market value of a "Deferred Payment Right" for puposes of Sec. 351 is not equal to its issue price; Complex Media Inc. T.C. Memo. 2021-14.
Action on Decision 2023-1 (IRB 2023-10) Sec. 4611; imposition of tax on exports in violation of the Export Clause of the United States Constitution; acquiescence in the interest of sound tax administration; Trafigura Trading LLC 5th Circuit.

 

       Links to Individual Bulletins

Internal Revenue Bulletin 2023-1
Internal Revenue Bulletin 2023-2
Internal Revenue Bulletin 2023-3
Internal Revenue Bulletin 2023-4
Internal Revenue Bulletin 2023-5
Internal Revenue Bulletin 2023-6
Internal Revenue Bulletin 2023-7
Internal Revenue Bulletin 2023-8
Internal Revenue Bulletin 2023-9
Internal Revenue Bulletin 2023-10
Internal Revenue Bulletin 2023-11
Internal Revenue Bulletin 2023-12
Internal Revenue Bulletin 2023-13
Internal Revenue Bulletin 2023-14
Internal Revenue Bulletin 2023-15
Internal Revenue Bulletin 2023-16
Internal Revenue Bulletin 2023-17
Internal Revenue Bulletin 2023-18
Internal Revenue Bulletin 2023-19
Internal Revenue Bulletin 2023-20
Internal Revenue Bulletin 2023-21
Internal Revenue Bulletin 2023-22

 


Copyright 2023 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 05/27/23