RP-2012-27 & N-2012-34
Internal Revenue Service (IRS) sent this bulletin at 05/02/2012 11:34 AM EDT
 |
||
|
||
News EssentialsIRS Resources |
Issue Number: RP-2012-27 & N-2012-34Inside This IssueRevenue Procedure 2012-27 provides guidance on how a taxpayer may make the notification required by § 42(j)(6)(B)(i) of the Internal Revenue Code which was added by section 3004(c) of the Housing Assistance Tax Act of 2008 (Pub. L. 110-289). The notification is required to begin the 3-year statutory period for assessing a deficiency with respect to the taxpayer resulting from a reduction in the qualified basis of a low-income housing tax credit building that occurs after the taxpayer disposes of the building (or an interest therein). Revenue Procedure 2012-27 will be in IRB 2012-21, dated May 21, 2012. Notice 2012-34 responds to comments on the proposed regulations relating to basis reporting by brokers for debt instruments and options published in the Federal Register on November 25, 2011 (REG-102988-11). Notice 2012-34 provides that the Treasury Department and the Internal Revenue Service intend to delay the proposed effective dates for reporting for debt instruments and options under sections 6045(g), 6045(h), 6045A, and 6045B from January 1, 2013, to January 1, 2014. Notice 2012-34 will be in IRB 2012-21, dated May 21, 2012. Thank you for subscribing to IRS GuideWire, an IRS e-mail service. If you are a Tax Professional and have a specific concern about your tax situation, call the IRS Practitioner Priority Service 1-866-860-4259. This message was distributed automatically from the IRS GuideWire mailing list. Please Do Not Reply To This Message. |