Internal Revenue Bulletin 2007-9

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Internal Revenue Bulletin: 2007-9
February 26, 2007

Table of Contents

• Highlights of This Issue
  • INCOME TAX
    • Rev. Rul. 2007-11
    • REG-159444-04
    • Notice 2007-21
    • Announcement 2007-18
  • EMPLOYEE PLANS
    • T.D. 9310
    • Notice 2007-18
    • Notice 2007-20
  • EXEMPT ORGANIZATIONS
    • Notice 2007-18
  • ADMINISTRATIVE
    • Rev. Proc. 2007-21
    • Announcement 2007-21
    • Announcement 2007-22
• Preface
  • The IRS Mission
  • Introduction
• Part I. Rulings and Decisions Under the Internal Revenue Code of 1986
  • T.D. 9310
    • AGENCY:
    • ACTION:
    • SUMMARY:
    • DATES:
    • FOR FURTHER INFORMATION CONTACT:
    • SUPPLEMENTARY INFORMATION:
      • Background
      • Explanation of Provisions
      • Applicability Date
      • Special Analyses
    • Adoption of Amendments to the Regulations
      • PART 1—INCOME TAXES
    • Drafting Information
  • Rev. Rul. 2007-11
    • DRAFTING INFORMATION
• Part III. Administrative, Procedural, and Miscellaneous
  • Notice 2007-18
    • I Purpose
    • II Background
      • A. Imposition of Excise Tax on Certain Tax-Exempt Entities
      • B. General Computation Rule
      • C. Computation Rule for Subsequently Listed Transactions
      • D. Effective Date
    • III Definition of Party
      • A. In General
      • B. Examples
    • IV Net Income and Proceeds
      • A. In general
      • B. Allocation of net income / proceeds to a taxable year
      • C. Examples
      • D. Special rule relating to taxable years that include August 16, 2006
    • V Request For Comments
    • VI Drafting Information
  • Notice 2007-20
    • CORPORATE BOND WEIGHTED AVERAGE INTEREST RATE
    • 30-YEAR TREASURY SECURITIES INTEREST RATE
    • Drafting Information
  • Notice 2007-21
    • PURPOSE
    • BACKGROUND
      • Supporting Organizations
      • Donor Advised Funds
      • Supporting Organizations and Donor Advised Funds as Alternatives to Private Foundations
      • New Rules Affecting Supporting Organizations and Donor Advised Funds under the PPA
      • Deductible Charitable Contributions
    • ISSUES IDENTIFIED FOR FURTHER STUDY UNDER THE PPA
    • REQUEST FOR PUBLIC COMMENTS
    • DRAFTING INFORMATION
  • Rev. Proc. 2007-21
    • SECTION 1. PURPOSE
    • SECTION 2. BACKGROUND
    • SECTION 3. SCOPE
    • SECTION 4. APPLICATION
    • SECTION 5. PAPERWORK REDUCTION ACT
    • SECTION 6. EFFECTIVE DATE
    • SECTION 7. DRAFTING INFORMATION
• Part IV. Items of General Interest
  • REG-159444-04
    • AGENCY:
    • ACTION:
    • SUMMARY:
    • DATES:
    • ADDRESSES:
    • FOR FURTHER INFORMATION CONTACT:
    • SUPPLEMENTARY INFORMATION:
      • Background
      • Explanation of Provisions
      • Proposed Effective Date
      • Special Analyses
      • Comments and Requests for Public Hearing
    • Proposed Amendments to the Regulations
      • PART 301—PROCEDURE AND ADMINISTRATION
    • Drafting Information
  • Announcement 2007-18
    • Section 1. Background
      • A. Section 409A
      • B. Application of § 409A to Certain Discounted Stock Rights
      • C. Consequences Under § 409A of the Exercise of Certain Discounted Stock Rights in 2006
    • Section 2. Scope of Program
    • Section 3. Eligibility Requirements
    • Section 4. Terms of Participation in the Program
      • A. Notice to the IRS of Intent to Participate
      • B. Notices to Affected Employees and IRS
      • i. Notice to Affected Employees of Intent to Participate
      • ii. Second Notice to IRS
      • C. Employer’s Further Submission of Information and Payment to the IRS
      • i. Information
      • ii. Remittance of All § 409A Taxes Due
      • a. Remittance of Taxes
      • b. Calculation of the 20% tax
      • c. Calculation of the Interest Tax
      • d. Additional Amount Due for Taxes Remitted After April 17, 2007
      • iii. Section 409A Tax Payments Constitute Compensation to the Employee
      • iv. Further Representations by the Employer
      • D. Notice to Affected Employees of the Employer’s Further Submission
    • Section 5. Scope of Relief
      • A. Employer’s Information Reporting Requirements
      • B. Employee’s § 409A Taxes
      • C. An Employer’s Failure to Comply with Representations or Other Actions Required under the Program
      • D. An Employer’s or Employee’s State and Local Information Reporting, Filing and Tax Requirements
    • Section 6. Procedures for Submission of Notices and Further Submissions to the IRS
      • A. Submissions to the IRS
      • B. Requests for Further Information and Withdrawals of Applications and Further Submissions
  • Announcement 2007-21
    • AGENCY:
    • ACTION:
    • SUMMARY:
    • DATES:
    • FOR FURTHER INFORMATION CONTACT:
    • SUPPLEMENTARY INFORMATION:
    • Background
    • Need for Corrections
    • Correction of Publication
    • PART 31—EMPLOYMENT TAXES AND COLLECTION OF INCOME TAX AT SOURCE
      • § 31.3402(g)-1 Supplemental wage payments.
  • Announcement 2007-22
    • AGENCY:
    • ACTION:
    • SUMMARY:
    • DATES:
    • FOR FURTHER INFORMATION CONTACT:
    • SUPPLEMENTARY INFORMATION:
      • Background
      • Need for Correction
      • Correction of Publication
      • PART 1—INCOME TAXES
      • § 1.199-1 (Corrected)
      • § 1.199-1 Income attributable to domestic production activities.
      • § 1.199-2 (Corrected)
      • § 1.199-2 Wage limitation.
      • § 1.199-3 (Corrected)
      • § 1.199-3 Domestic production gross receipts.
      • § 1.199-4 (Corrected)
      • § 1.199-4 Costs allocable to domestic production gross receipts.
      • § 1.199-6 (Corrected)
      • § 1.199-6 Agricultural and horticultural cooperatives.
      • § 1.199-7 (Corrected)
      • § 1.199-7 Expanded affiliated groups.
      • § 1.199-8 (Corrected)
      • § 1.199-8 Other rules.
      • § 1.199-9 (Corrected)
      • § 1.199-9 Application of section 199 to pass-thru entities for taxable years beginning on or before May 17, 2006, the enactment date of the Tax Increase Prevention and Reconciliation Act of 2005.
• Definition of Terms and Abbreviations
  • Definition of Terms
  • Abbreviations
• Numerical Finding List
  • Numerical Finding List
• Effect of Current Actions on Previously Published Items
  • Finding List of Current Actions on Previously Published Items
• How to get the Internal Revenue Bulletin
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