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This Week's Internal Revenue Bulletin

JUN. 15, 2015

2015-24 IRB 1

DATED JUN. 15, 2015
DOCUMENT ATTRIBUTES
  • Institutional Authors
    Internal Revenue Bulletin
  • Subject Area/Tax Topics
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 2015-13809
  • Tax Analysts Electronic Citation
    2015 TNT 114-28
Citations: 2015-24 IRB 1

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.

 

INCOME TAX

 

 

Rev. Proc. 2015-33 2015 TNT 105-12: IRS Revenue Procedures, page 1067. This revenue procedure corrects or clarifies several items in Rev. Proc. 2015-13, 2015-13 I.R.B. 419, regarding certain procedures for changing a method of accounting. Specifically, this revenue procedure (1) modifies the transition rules under section 15.02(1)(a)(ii) of Rev. Proc. 2015-13 to provide additional time to file Forms 3115 under Rev. Proc. 2011-14, 2011-4 I.R.B. 330; (2) clarifies when the automatic change procedures do not apply if the taxpayer engages, within the requested year of change, in a transaction to which § 381(a) applies; (3) clarifies the meaning of three-month window under section 8.02(1)(a)(ii) of Rev. Proc. 2015-13 for a taxpayer with a 52-53 week taxable year; and (4) discusses a clarification to the applicable Ogden, UT, address provided in section 9.05 of Rev. Proc. 2015-1, 2015-1 I.R.B. 1.

Notice 2015-40 2015 TNT 104-15: Internal Revenue Bulletin, page 1057. This notice requests comments regarding the effect on taxpayers' methods of accounting of new financial accounting revenue recognition standards announced by the Financial Accounting Standards Board and the International Accounting Standards Board. Comments should be submitted by September 16, 2015.

Notice 2015-41 2015 TNT 104-16: Internal Revenue Bulletin, page 1058. This notice provides guidance under sections 1(h) and 852 of the Code to regulated investment companies and their shareholders on the computation and treatment of capital gain dividends.

 

EMPLOYEE PLANS

 

 

Rev. Proc. 2015-32 2015 TNT 104-19: IRS Revenue Procedures, page 1063. This revenue procedure establishes a permanent program providing administrative relief to the plan administrators and plan sponsors of certain retirement plans for failing to timely comply with the annual reporting requirements of sections 6047(e), 6058, and 6059. This permanent program replaces the pilot program established by Revenue Procedure 2014-32, 2012-23 I.R.B. 1073.

 

EXEMPT ORGANIZATIONS

 

 

Announcement 2015-16 2015 TNT 114-27: Internal Revenue Bulletin, page 1069. Correction of Announcement 2015-14, Revocation of IRC 501(c)(3) Organizations for failure to meet the code section requirements.
DOCUMENT ATTRIBUTES
  • Institutional Authors
    Internal Revenue Bulletin
  • Subject Area/Tax Topics
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 2015-13809
  • Tax Analysts Electronic Citation
    2015 TNT 114-28
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