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This Week's Internal Revenue Bulletin

OCT. 9, 2001

2001-41 IRB 1

DATED OCT. 9, 2001
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Citations: 2001-41 IRB 1

 

=============== SUMMARY ===============

 

The full text of the Table of Contents for Internal Revenue Bulletin No. 2001-41 is included in this issue of Tax Notes Today. Two announcements and one notice are included in this issue. Those documents listed in the Table of Contents but not included in this issue have previously been published in Tax Notes Today and are listed with their electronic citations.

 

=============== FULL TEXT ===============

 

INCOME TAX

[1] REV. RUL. 2001-49, PAGE 312. FEDERAL RATES; ADJUSTED FEDERAL RATES; ADJUSTED FEDERAL LONG-TERM RATE AND THE LONG-TERM EXEMPT RATE. For purposes of sections 382, 1274, 1288, and other sections of the Code, tables set forth the rates for October 2001. [Full text: See 2001 TNT 184-8 Database 'Tax Notes Today 2001', View '(Number'.]

[2] NOTICE 2001-59, PAGE 315. INTEREST ALLOCATION. The IRS and the Treasury Department are soliciting comments on the appropriate method for allocating interest to certain types of financial positions that may constitute integrated financial transactions. [Full text: See 2001 TNT 183-16 Database 'Tax Notes Today 2001', View '(Number'.]

[3] NOTICE 2001-64, PAGE 316. This notice solicits comments concerning the scope and substance of proposed regulations under section 707(a)(2)(B) of the Code. Comments must be received by March 31, 2002. [Full text in this issue.]

EMPLOYEE PLANS

[4] ANNOUNCEMENT 2001-96, PAGE 317. The Service has issued a new form to be used by sponsors of prototype simplified employee pensions (SEPs) and prototype SIMPLE IRA plans to apply for opinion letters on these documents. The new Form 5306-A, Application for Approval of Prototype Simplified Employee Pension (SEP) or Savings Incentive Match Plan for Employees of Small Employers (SIMPLE IRA Plan), will replace Form 5306-SEP. [Full text in this issue.]

EXEMPT ORGANIZATIONS

[5] ANNOUNCEMENT 2001-100, PAGE 317. A list is provided of organizations now classified as private foundations. [Full text in this issue.]

EMPLOYMENT TAX

[6] PAGE 314. RAILROAD RETIREMENT; RATE DETERMINATION; QUARTERLY. The Railroad Retirement Board has determined that the rate of tax imposed by section 3221 of the Code shall be 26 cents for the quarter beginning October 1, 2001. [Full text: See 2001 TNT 185-74 Database 'Tax Notes Today 2001', View '(Number'.]

EXCISE TAX

[7] ANNOUNCEMENT 2001-98, PAGE 317. This announcement advises taxpayers who file Form 720, Quarterly Federal Excise Tax Return, of the revised filing and deposit requirements effective for calendar quarters beginning after September 30, 2001. [Full text: See 2001 TNT 192-23 Database 'Tax Notes Today 2001', View '(Number'.]

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