Internal Revenue Bulletin 2007-5

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Internal Revenue Bulletin: 2007-5
January 29, 2007

Table of Contents

• Highlights of This Issue
  • INCOME TAX
    • Rev. Rul. 2007-5
    • Rev. Rul. 2007-6
    • T.D. 9303
    • REG-125632-06
    • Notice 2007-9
    • Notice 2007-13
  • EMPLOYEE PLANS
    • T.D. 9302
    • Notice 2007-7
    • Notice 2007-12
  • EXCISE TAX
    • Notice 2007-11
  • ADMINISTRATIVE
    • Rev. Proc. 2007-18
    • Announcement 2007-8
    • Announcement 2007-9
• Preface
  • The IRS Mission
  • Introduction
• Part I. Rulings and Decisions Under the Internal Revenue Code of 1986
  • Rev. Rul. 2007-5
    • DRAFTING INFORMATION
  • T.D. 9303
    • AGENCY:
    • ACTION:
    • SUMMARY:
    • DATES:
    • FOR FURTHER INFORMATION CONTACT:
    • SUPPLEMENTARY INFORMATION:
      • Background
      • Explanation of Provisions
      • Special Analyses
    • Amendments to the Regulations
      • PART 1—INCOME TAXES
    • Drafting Information
  • T.D. 9302
    • AGENCY:
    • ACTION:
    • SUMMARY:
    • DATES:
    • FOR FURTHER INFORMATION CONTACT:
    • SUPPLEMENTARY INFORMATION:
      • Background
      • Explanation of Provisions
      • Effective Dates
      • Special Analyses
    • Adoption of Amendments to the Regulations
      • PART 1—INCOME TAXES
    • Drafting Information
  • Rev. Rul. 2007-6
    • DRAFTING INFORMATION
• Part III. Administrative, Procedural, and Miscellaneous
  • Notice 2007-7
    • I. PURPOSE
    • II. SECTION 303 OF PPA ’06
    • III. SECTION 826 OF PPA ’06
    • IV. SECTION 828 OF PPA ’06
    • V. SECTION 829 OF PPA ’06
    • VI. SECTION 845 OF PPA ’06
    • VII. SECTION 904 OF PPA ’06
    • VIII. SECTION 1102 OF PPA ’06
    • IX. SECTION 1201 OF PPA ’06
    • DRAFTING INFORMATION
  • Notice 2007-9
    • SECTION 1. OVERVIEW
    • SECTION 2. BACKGROUND
    • SECTION 3. DIVIDENDS
    • SECTION 4. PARTNERSHIPS
    • SECTION 5. ALLOCATION AND ATTRIBUTION RULES FOR INTEREST
      • (a) Interest properly allocable or apportionable to non-subpart F income
      • (b) Interest properly allocable or apportionable to non-ECI
    • SECTION 6. ALLOCATION AND ATTRIBUTION RULES FOR RENTS AND ROYALTIES
      • (a) Rents and royalties properly allocable or apportionable to non-subpart F income
      • (b) Rents and royalties properly allocable or apportionable to non-ECI
    • SECTION 7. ANTI-ABUSE RULES
      • (a) Overview
      • (b) Amounts that reduce the U.S. income tax base, including factoring income
      • (c) Avoidance of section 956
      • (d) Use of options or similar interests
      • (e) Change of character of income through the use of a conduit entity
    • SECTION 8. EFFECTIVE DATE
    • SECTION 9. DRAFTING INFORMATION
    • Request for Comments
  • Notice 2007-11
    • SECTION 1. PURPOSE
    • SECTION 2. BACKGROUND
    • SECTION 3. STANDARD AMOUNT
    • SECTION 4. DISTINCTION BETWEEN LOCAL-ONLY SERVICE AND BUNDLED SERVICE
    • SECTION 5. CLARIFICATION OF DEFINITION OF BUNDLED SERVICE
    • SECTION 6. PREPAID TELEPHONE CARDS (PTC)
    • SECTION 7. PREPAID CELLULAR TELEPHONES
    • SECTION 8. CHARGES IN CONNECTION WITH LOCAL-ONLY SERVICE
    • SECTION 9. PERSON TO MAKE REQUEST IF TAXPAYER IS NO LONGER IN BUSINESS OR DECEASED
    • SECTION 10. EFFECT OF NOTICE 2006-50 ON STATE AND LOCAL TELECOMMUNICATIONS TAXES
    • SECTION 11. NO OBLIGATION OF TELECOMMUNICATIONS PROVIDERS TO SUPPLY RECORDS TO CUSTOMERS
    • SECTION 12. BUSINESS AND NONPROFIT ESTIMATION METHOD
    • SECTION 13. FORM 1040EZ-T, REQUEST FOR REFUND OF FEDERAL TELEPHONE EXCISE TAX
    • SECTION 14. MODIFICATION OF PROVISION REGARDING REQUESTS FOR CREDIT OR REFUND
    • SECTION 15. EFFECT ON OTHER DOCUMENTS
    • SECTION 16. DRAFTING INFORMATION
  • Notice 2007-12
    • CORPORATE BOND WEIGHTED AVERAGE INTEREST RATE
    • 30-YEAR TREASURY SECURITIES INTEREST RATE
    • Drafting Information
  • Notice 2007-13
    • SECTION 1. OVERVIEW
    • SECTION 2. SUBSTANTIAL ASSISTANCE RULES
    • SECTION 3. FOREIGN BASE COMPANY SHIPPING RULES
    • SECTION 4. REQUEST FOR COMMENTS
    • SECTION 5. DRAFTING INFORMATION
  • Rev. Proc. 2007-18
    • SECTION 1. PURPOSE
    • SECTION 2. BACKGROUND
    • SECTION 3. NATIONAL QUALIFIED ZONE ACADEMY BOND LIMITATION FOR 2006 AND 2007
    • SECTION 4. EFFECTIVE DATE
    • SECTION 5. DRAFTING INFORMATION
• Part IV. Items of General Interest
  • REG-125632-06
    • AGENCY:
    • ACTION:
    • SUMMARY:
    • DATES:
    • ADDRESSES:
    • FOR FURTHER INFORMATION CONTACT:
    • SUPPLEMENTARY INFORMATION:
      • Background
      • Explanation of Provisions
      • Special Analyses
      • Comments and Requests for a Public Hearing
    • Proposed Amendments to the Regulations
      • PART 1—INCOME TAXES
    • Drafting Information
  • Announcement 2007-8
    • AGENCY:
    • ACTION:
    • SUMMARY:
    • DATES:
    • FOR FURTHER INFORMATION CONTACT:
    • SUPPLEMENTARY INFORMATION:
      • Background
      • Need for Correction
      • Correction of Publication
  • Announcement 2007-9
    • AGENCY:
    • ACTION:
    • SUMMARY:
    • EFFECTIVE DATE:
    • FOR FURTHER INFORMATION CONTACT:
    • SUPPLEMENTARY INFORMATION:
      • Background
      • Need for Correction
      • Correction of Publication
      • PART 1—INCOME TAXES
      • §1.482-1 Allocation of income and deductions among taxpayers.
      • §1.482-1T Allocation of income and deductions among taxpayers (temporary).
      • §1.482-8T Example of the best method rule (temporary).
      • §1.482-9T Methods to determine taxable income in connection with a controlled services transaction (temporary).
      • §1.861-8T Computation of taxable income from sources within the United States and from other sources and activities (temporary).
      • §1.6662-6T Transactions between parties described in section 482 and net section 482 transfer price adjustments (temporary).
• 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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