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.
This revenue procedure provides specifications for the private printing of red-ink substitutes for the 2023 Forms W-2 and W-3. This revenue procedure will be produced as the next revision of Publication 1141. Rev. Proc. 2022-30 is superseded.
26 CFR 601.602: Tax forms and instructions. (Also Part I, Sections 6041, 6051, 6071, 6081, 6091; 1.6041-1, 1.6041-2, 31.6051-1, 31.6051-2, 31.6071(a)-1, 31.6081(a)-1, 31.6091-1.)
The notice provides transition relief in connection with the change to the required beginning date of required minimum distributions (RMDs) from IRAs and employer plans pursuant to section 107 of the SECURE 2.0 Act of 2022, enacted on December 29, 2022, as Division T of the Consolidated Appropriations Act, 2023, Pub. L. 117-328, 136 Stat. 4459 (2022). In addition, this notice provides guidance related to certain provisions of section 401(a)(9) that apply for 2021, 2022, and 2023, and the related excise tax under section 4974. Finally, the notice announces that the final regulations intended to be published relating to RMDs will apply for purposes of determining RMDs for calendar years beginning no earlier than 2024.
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).
Section 2303 of the “Coronavirus Aid, Relief, and Economic Security Act,” Pub. L. No. 116-136, 134 Stat. 281 (March 27, 2020) (the “CARES Act”), amended the carryback provisions related to net operating losses. As a result of the CARES Act amendments, which specifically extended the carryback period for certain net operating losses, temporary regulations were issued on July 2, 2020, permitting certain acquiring consolidated groups to elect to waive all or a portion of the pre-acquisition portion of the extended carryback period under section 172 for certain losses attributable to certain acquired members. These final regulations adopt without substantive change those temporary regulations.
26 CFR 1.1502-21: Carryback of Consolidated Net Operating Losses
Rev. Proc. 2023-3, 2023-1 I.R.B. 144 (January 3, 2023) contains an error in the second 2022-19, 2022-42 I.R.B. 282, is superseded. However, Rev. Proc. 2022-19, 2022-42 I.R.B. 282 remains in effect and is not superseded. Section 7 is corrected to read, “Rev. Proc. 2022-3, 2022-1 I.R.B. 144, is superseded. Rev. Proc. 2022-28, 2022-27 I.R.B. 65, is superseded.
The Internal Revenue Bulletin is produced and published by the Internal Revenue Service and contains IRS pronouncements affecting tax analysis under the Code and the Regulations, including but not limited to Revenue Procedures, Revenue Rulings, Notices and Announcements. Access the IRS site at https://www.irs.gov/help/irsgov-accessibility for information concerning accessibility of IRS materials. While every effort has been made to ensure that the IRB database files available through the TouchTax application are accurate, those using TouchTax for legal research should verify their results against the printed versions of the IRBs available from the IRS.