This Week's Internal Revenue Bulletin

HIGHLIGHTS OF THIS ISSUE

These synopses are intended only as aids to the reader in identifying the subject matter covered. They may not be relied upon as authoritative interpretations.

ADMINISTRATIVE

Announcement 2019-03, page 965. This Announcement is issued pursuant to § 521(b) of Pub. L. 106-170, the Ticket to Work and Work Incentives Improvement Act of 1999, which requires the Secretary of the Treasury to report annually to the public concerning advance pricing agreements (APAs) and the Advance Pricing and Mutual Agreement Program (APMA Program), formerly known as the Advance Pricing Agreement Program (APA Program). This twentieth report describes the experience, structure, and activities of the APMA Program during calendar year 2018.

Notice 2019-25, page 942. This notice modifies and supersedes the guidance in Notice 2019-11, which announced the waiver of the addition to tax for underpayment of estimated income tax for certain individuals for the 2018 tax year. This notice increases the availability of the waiver of the addition to tax by expanding the waiver to individuals whose total withholding and estimated tax payments equal or exceed eighty percent of the tax shown on the return for the 2018 taxable year. The notice updates procedures for requesting the waiver of the addition to tax. Additionally, the notice provides procedures for taxpayers who paid additions to tax for underpayment of estimated tax for tax year 2018 but who qualify for relief under this notice to request a refund of the addition to tax.

Rev. Proc. 2019-14, page 948. This procedure provides issuers of qualified mortgage bonds (QMBs) and qualified mortgage certificates (MCCs) with average area purchase price safe harbors for statistical areas in the United States and with a nationwide average purchase price for residences in the United States for purposes of QMB rules under section 143 of the Code and the MCC rules under section 25.

EMPLOYEE PLANS

Notice 2019-26, page 943. This notice sets forth the updated mortality improvement rates and static mortality tables that are used for purposes of determining minimum funding requirements under § 430(h)(3) for 2020 and minimum present value under § 417(e)(3) for distributions with annuity starting dates that occur during stability periods beginning in the 2020 calendar year.

INCOME TAX

Notice 2019-23, page 941. ITG is updating the appendix to Notice 2013–1. The appendix lists the tribes that have resolved claims against the United States regarding trust assets. The list includes seven new tribes.

Notice 2019-25, page 942. This notice modifies and supersedes the guidance in Notice 2019-11, which announced the waiver of the addition to tax for underpayment of estimated income tax for certain individuals for the 2018 tax year. This notice increases the availability of the waiver of the addition to tax by expanding the waiver to individuals whose total withholding and estimated tax payments equal or exceed eighty percent of the tax shown on the return for the 2018 taxable year. The notice updates procedures for requesting the waiver of the addition to tax. Additionally, the notice provides procedures for taxpayers who paid additions to tax for underpayment of estimated tax for tax year 2018 but who qualify for relief under this notice to request a refund of the addition to tax.