This Week's Internal Revenue Bulletin
2009-44 IRB 1
- Institutional AuthorsInternal Revenue Service
- Subject Area/Tax Topics
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2009-23850
- Tax Analysts Electronic Citation2009 TNT 209-18
INCOME TAX
Rev. Rul. 2009-35, page 568. Federal rates; adjusted federal rates; adjusted federal long-term rate and the long-term exempt rate. For purposes of sections 382, 642, 1274, 1288, and other sections of the Code, tables set forth the rates for November 2009. [Full text: see 2009 TNT 200-12
.] Notice 2009-83, page 588. Credit for carbon dioxide sequestration under section 45Q. This notice sets forth interim guidance, pending the issuance of regulations, relating to the credit for carbon dioxide sequestration under section 45Q of the Code. Specifically, the notice provides guidance on determining eligibility for the credit and the amount of the credit, as well as rules regarding adequate security measures for secure geological storage of carbon dioxide. The notice also sets forth a separate reporting requirement. [Full text: see 2009 TNT 194-8 .]
EXEMPT ORGANIZATIONS
Announcement 2009-78, page 594. The IRS has revoked its determination that Concerned Residents of Southeast, Inc., of Brewster, NY, qualifies as an organization described in sections 501(c)(3) and 170(c)(2) of the Code. [Full text: see Doc 2009-23854
.] ESTATE TAX
T.D. 9468, page 570. Final regulations under section 2053 of the Code relate to the amount deductible from a decedent's gross estate for claims against the estate. In addition, the regulations update the provisions relating to the deduction for certain state death taxes to reflect the statutory amendments made in 2001 to sections 2053(d) and 2058. [Full text: see 2009 TNT 199-9
.] Notice 2009-84, page 592. This notice provides a limited administrative exception to the ability of the Service to examine a Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, in connection with certain Code section 2053 protective claims for refund filed within the time prescribed in section 6511(a). [Full text: see 2009 TNT 199-11 .]
GIFT TAX
T.D. 9460, page 584. Final regulations under section 7477 of the Code provide guidance for determining whether a donor may petition the Tax Court for a declaratory judgment with respect to the value of a taxable gift, where the gift does not generate any current gift tax liability. [Full text: see 2009 TNT 172-43
.] ADMINISTRATIVE
T.D. 9460, page 584. Final regulations under section 7477 of the Code provide guidance for determining whether a donor may petition the Tax Court for a declaratory judgment with respect to the value of a taxable gift, where the gift does not generate any current gift tax liability. [Full text: see 2009 TNT 172-43
.] Notice 2009-84, page 592. This notice provides a limited administrative exception to the ability of the Service to examine a Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, in connection with certain Code section 2053 protective claims for refund filed within the time prescribed in section 6511(a). [Full text: see 2009 TNT 199-11 .]
- Institutional AuthorsInternal Revenue Service
- Subject Area/Tax Topics
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2009-23850
- Tax Analysts Electronic Citation2009 TNT 209-18
