You would never know what was hidden in these regulations unless you conduct extensive research which we did for our members. We will be providing our research to our members.  Based on a preliminary review, these proposals could be very far reaching and effect a wide range of our member’s clients. These proposals deserve your immediate review!

TaxConnections Members should study this very important information in order to make comments or request a public hearing on areas that will impact you and your clients. If you want to comment or request a public hearing please make note of the date of May 14, 2018. You must make a request for a public hearing before this date.

Treasury Regulations §1.179A-1(Recapture of Deduction For Qualified Clean-Fuel Vehicle Property)

These regulations provide guidance under Section 179A. Section 179A was repealed by Section 221(a) (34) (A) of the Tax Increase Prevention Act of 2014, effective December 19, 2014. Public Law No. 113-295.

Treasury Regulations §§1.244-1(Deduction For Dividends Received On Certain Preferred Stock

and Treasury Regulation 1.244-2 (Computation of Deduction)

These regulations provide guidance under section 244. Section 244 was repealed by section 221(a) (41)(A) of the Tax Increase Prevention Act of 2014, effective December 19, 2014. Public Law No.113-295.

Treasury Regulations §§1.341-1(Collapsible Corporations) through

Treasury Regulations 1.341-7 (Sales of Stock Consenting Corporations)

These regulations provide guidance under Section 341. Section 341 was temporarily repealed until December 31, 2010, by Section 302(e) (4) of the Jobs and Growth Tax Relief and Reconciliation Act of2003, effective for taxable years beginning after December 31, 2002. Public Law No. 108-27. Section 102 of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, extended the repeal until December 31, 2012. Public Law No. 111-312. Section 102(a) of the American Taxpayer Relief Act of 2012 made the repeal of Section 341 permanent. Public Law No. 112-240.

Treasury Regulations §§1.405-1(Qualified Bond Purchase Plans) through

Treasury Regulations 1.405-3 (Taxation of Retirement Bonds)

These regulations provide guidance under section 405 relating to qualified bond purchase plans. Section 405 was repealed by Section 491(a) of the Deficit Reduction Act of 1984, effective for obligations issued after December 31, 1983. Public Law No. 98-369.

Treasury Regulations §1.501(k)-1   (Communist Controlled Organization)

These regulations provide guidance under Section 501(s) relating to non-exemption of Communist-Controlled Organizations. Section 501(s) was repealed by section 221(a) (62) of the Tax Increase Prevention Act of 2014, effective December 19, 2014. Public Law No. 113-295.

Treasury Regulations §§1.551-3 (Deductions For Obligations Of US Citizens) through

Treasury Regulation 1.551-5 (Effect On Capital Accounts Of Foreign Personal Holding Company)

These regulations provide guidance under section 551. Section 551 was repealed by Section 413(a)(1) of the American Jobs Creation Act of 2004, effective for taxable years of foreign corporations beginning after December 31, 2004, and for taxable years of United States shareholders with or within which such taxable years of foreign corporations end. Public Law No. 108-357.

Treasury Regulations §§1.552-1 (Foreign Personal Holding Company) through

Treasury Regulations 1.552-5  (US Shareholder Of Excluded Bank)