This is the table of contents of Internal Revenue Bulletin IRB 2005-26. Click on an entry to view the entry. Items shown under "Highlights of This Issue" open summaries of each IRB-referenced document only. Scroll to Parts I, II, etc. to view the full text versions of each IRB-referenced document. Use the "Keyword Search" option of TouchTax to search the full text of all Internal Revenue Bulletins, including this IRB.
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.
LIFO; price indexes; department stores. The April 2005 Bureau of Labor Statistics price indexes are accepted for use by department stores employing the retail inventory and last-in, first-out inventory methods for valuing inventories for tax years ended on, or with reference to, April 30, 2005.
Final, temporary, and proposed regulations under section 752 of the Code relate to the definition of liabilities. These regulations provide rules regarding a partnership’s assumption of certain fixed and contingent obligations in connection with the issuance of a partnership interest and provide conforming changes to certain regulations. These regulations also provide rules under section 358(h) for assumptions of liabilities by corporations from partners and partnerships. In addition, to prevent the abuse that section 358(h) was designed to prevent, these regulations also provide rules that, with respect to an exchange to which section 358(a)(1) applies, remove the exception for transfers in which substantially all of the assets associated with a liability are transferred to the person assuming the liability as part of the exchange.
Final, temporary, and proposed regulations under section 752 of the Code relate to the definition of liabilities. These regulations provide rules regarding a partnership’s assumption of certain fixed and contingent obligations in connection with the issuance of a partnership interest and provide conforming changes to certain regulations. These regulations also provide rules under section 358(h) for assumptions of liabilities by corporations from partners and partnerships. In addition, to prevent the abuse that section 358(h) was designed to prevent, these regulations also provide rules that, with respect to an exchange to which section 358(a)(1) applies, remove the exception for transfers in which substantially all of the assets associated with a liability are transferred to the person assuming the liability as part of the exchange.
This procedure provides safe harbors for determining the finality of the adoption of eligible foreign-born children for purposes of the adoption credit and the exclusion for employer-provided assistance for qualified adoption expenses. The expenses of a re-adoption proceeding may be qualified adoption expenses. Notice 2003-15 modified and superseded.
Individual Retirement Account (IRA); decedent; beneficiary's disclaimer. This ruling discusses whether a beneficiary's disclaimer of a beneficial interest in a decedent's IRA is a qualified disclaimer under section 2518 of the Code even though prior to making the disclaimer, the beneficiary receives from the IRA the required minimum distribution for the year of the decedent's death.
Weighted average interest rate update; corporate bond indices; 30-year Treasury securities. The weighted average interest rate for June 2005 and the resulting permissible range of interest rates used to calculate current liability and to determine the required contribution are set forth.
Individual Retirement Account (IRA); decedent; beneficiary's disclaimer. This ruling discusses whether a beneficiary's disclaimer of a beneficial interest in a decedent's IRA is a qualified disclaimer under section 2518 of the Code even though prior to making the disclaimer, the beneficiary receives from the IRA the required minimum distribution for the year of the decedent's death.
Individual Retirement Account (IRA); decedent; beneficiary's disclaimer. This ruling discusses whether a beneficiary's disclaimer of a beneficial interest in a decedent's IRA is a qualified disclaimer under section 2518 of the Code even though prior to making the disclaimer, the beneficiary receives from the IRA the required minimum distribution for the year of the decedent's death.
This notice provides an interim definition of state or local bond opinions under section 10.35(b)(9) of Treasury Department Circular No. 230 and provides information relating to changes to the proposed requirements for state or local bond opinions that are under consideration.
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