This notice sets forth updates on the corporate bond monthly yield curve, the corresponding spot segment rates for July 2023 used under § 417(e)(3)(D), the 24-month average segment rates applicable for July 2023, and the 30-year Treasury rates, as reflected by the application of § 430(h)(2)(C)(iv).

These proposed rules would amend regulations regarding coverage of certain preventive services under the Patient Protection and Affordable Care Act, which requires non-grandfathered group health plans and non-grandfathered group or individual health insurance coverage to cover certain contraceptive services without cost sharing. Current regulations include exemptions and optional accommodations for entities and individuals with religious or moral objections to coverage of contraceptive services. These rules propose rescinding the moral exemption rule. These proposed rules also would establish a new individual contraceptive arrangement that individuals enrolled in plans or coverage sponsored, arranged, or provided by objecting entities may use to obtain contraceptive services at no cost directly from a provider or facility that furnishes contraceptive services. Under these proposed rules, a provider or facility that furnishes contraceptive services in accordance with the individual contraceptive arrangement for eligible individuals would be able to be reimbursed for its costs by entering into an arrangement with an issuer on a Federally-facilitated Exchange or State Exchange on the Federal platform, which in turn may seek a user fee adjustment.

These final regulations under sections 3111, 3131, 3132, 3134 and 3221 of the Internal Revenue Code (Code), issued under the authority granted by the Families First Coronavirus Response Act (Families First Act), the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) in 2020, and the American Rescue Plan Act of 2021 (ARP), implement the authority granted under these sections to prescribe regulations as may be necessary for reconciling advance payments of refundable employment tax credits provided under these sections and recapturing erroneous refunds of the credits. The regulations authorize the assessment and collection of any erroneous refund of the credits in the normal course of processing the applicable employment tax returns. This allows the IRS to efficiently recover any refund, while preserving administrative protections for taxpayers.

26 CFR 31.3111-6, 26 CFR 31.3131-1, 26 CFR 31.3132-1, 26 CFR 31.3134-1, 26 CFR 31.3221-5: Recapture of Certain Excess Employment Tax Credits under COVID

Revocation of IRC 501(c)(3) Organizations for failure to meet the code section requirements. Contributions made to the organizations by individual donors are no longer deductible under IRC 170(b)(1)(A).

The notice provides temporary relief in determining whether a foreign tax meets the definition of a foreign income tax under sections 901 and 903 for the 2022 and 2023 tax years (the relief period). For foreign taxes paid during any taxable year within the relief period, taxpayers may apply: (1) former § 1.901-2(a) and (b), before it was amended by Treasury Decision 9959, subject to a modification to the nonconfiscatory gross basis tax rule as described in the notice, and (2) existing § 1.903-1 without the attribution requirement.

Federal rates; adjusted federal rates; adjusted federal long-term rate, and the long-term tax exempt rate. For purposes of sections 382, 1274, 1288, 7872 and other sections of the Code, tables set forth the rates for August 2023.

(Also Sections 42, 280G, 382, 467, 468, 482, 483, 1288, 7520, 7872.)