Issue Number: 2014-37
Inside This Issue
- IRS Commissioner Health Care Video Series
- Sept. 17 Webinar: 2014 Affordable Care Act Tax Provisions for Individuals, Families and Small Businesses
- New Filing Season Program for Tax Return Preparers
- Tax Relief for Victims of Terrorist Attacks
- Tax Payments Top the One Million Mark with New IRS Direct Pay
- Sept. 18 Phone Forum: Defined Benefit Plan Update
- Technical Guidance
1. IRS Commissioner Health Care Video Series
IRS Commissioner John Koskinen discusses the premium tax credit and the individual shared responsibility provision in two new YouTube videos.
Watch this and other videos on the IRS YouTube Channel.
2. Sept. 17 Webinar: 2014 Affordable Care Act Tax Provisions for Individuals, Families and Small Businesses
This Sept. 17 webinar will provide information on the:
• Individual Shared Responsibility Provision
• Premium Tax Credit
• Small Business Health Care Tax Credit
The webinar includes a live Q&A session with a subject matter expert.
3. New Filing Season Program for Tax Return Preparers
The IRS has a new voluntary program designed to encourage education and filing season readiness. Return preparers who elect to participate will receive a Record of Completion from the IRS. Learn more about the Annual Filing Season Program.
4. Tax Relief for Victims of Terrorist Attacks
Victims, survivors and some dependents of those killed during the Sept. 11, 2001 attack on the World Trade Center, the Pentagon and United Airlines Flight 93; the Oklahoma City bombing in 1995; and the 2001 anthrax terrorist attacks may be eligible to claim certain types of tax relief. To benefit, taxpayers must file claims for these benefits using the guidelines and time frames set by law.
5. Tax Payments Top the One Million Mark with New IRS Direct Pay
With more than one million tax payments already processed this year through IRS Direct Pay, the Internal Revenue Service encourages anyone facing upcoming tax payment deadlines to consider choosing this free online system to quickly and easily pay what they owe.
6. Sept. 18 Phone Forum: Defined Benefit Plan Update
Sign up now for this Sept. 18 phone forum and learn about recent legislation, recent and pending guidance, current developments in determination letter and Employee Plans Compliance Resolution System cases, and common exam issues.
Notice 2014-50 provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates used under Section 417(e)(3), and the 24-month average segment rates under Section 430(h)(2) of the Internal Revenue Code. In addition, this notice provides guidance as to the interest rate on 30-year Treasury securities under Section 417(e)(3)(A)(ii)(II) as in effect for plan years beginning before 2008 and the 30-year Treasury weighted average rate under Section 431(c)(6)(E)(ii)(I). The rates in this notice reflect the application of Section 430(h)(2)(C)(iv), which was added by the Moving Ahead for Progress in the 21st Century Act, Public Law 112-141 (MAP-21) and amended by section 2003 of the Highway and Transportation Funding Act of 2014, Public Law 113-159 (HATFA).
Notice 2014-51 announces that the Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) will amend the regulations under section 1298(f) of the Internal Revenue Code (Code) to provide guidance concerning United States persons (U.S. persons) that hold stock of a passive foreign investment company.
Notice 2014-53 provides guidance on the changes to the funding stabilization rules for single-employer pension plans under the Internal Revenue Code (Code) and the Employee Retirement Income Security Act of 1974 (ERISA) that were made by section 2003 of the Highway and Transportation Funding Act of 2014 (HATFA), Pub. L. No. 113-159, which was enacted on August 8, 2014.
