This announcement delays, until further notice, the enrollment renewal period under section 10.6(d) of the regulations governing practice before the IRS, which are reprinted as Treasury Department Circular No. 230, 31 CFR part 10 (Circular 230), for enrolled agents with social security numbers or tax identification numbers ending in 4, 5, or 6.

Temporary and proposed regulations under section 108 of the Code provide rules regarding partnerships and S corporations. Section 108(i) allows a taxpayer to defer discharge of indebtedness income (and in certain cases, deductions for original issue discount) arising from a reacquisition of an applicable debt instrument that occurs in 2009 or 2010 for a four or five taxable-year period (unless an acceleration event occurs earlier). Once the deferral period ends, taxpayers take into account the deferred income and deductions ratably over a five taxable-year period.

Temporary and proposed regulations under section 108 of the Code provide rules regarding partnerships and S corporations. Section 108(i) allows a taxpayer to defer discharge of indebtedness income (and in certain cases, deductions for original issue discount) arising from a reacquisition of an applicable debt instrument that occurs in 2009 or 2010 for a four or five taxable-year period (unless an acceleration event occurs earlier). Once the deferral period ends, taxpayers take into account the deferred income and deductions ratably over a five taxable-year period.

Final regulations under section 6411 of the Code amend existing regulations relating to the computation and allowance of the tentative carryback adjustments.

Proposed regulations under section 7701 of the Code provide whether or not a series of a domestic series LLC, a cell of a domestic cell company, or a foreign series or cell that conducts an insurance business is a juridical person for local law purposes, for Federal tax purposes it is treated as an entity formed under local law. Classification of a series or cell that is treated as a separate entity for Federal tax purposes generally is determined under the same rules that govern the classification of other types of separate entities.

This ruling provides guidance, in the form of examples, on what constitutes an unforeseeable emergency distribution under section 457(b) of the Code and regulations section 1.457-6(c). The ruling also applies the same standards to distributions from a nonqualified deferred compensation plan subject to section 409A.

The IRS has revoked its determination that the Jeffrey Reiken Johnson Clergy Public Ministry Association, Inc., a Church, of San Francisco, CA; Life Time Transition, Inc., of Robbinsdale, MN; Minnesota StandDown, Inc., of Minneapolis, MN; Ohio Narcotic Officers Association of Warren, OH; Owls Nest 1424, Inc., of St. Mary’s, WV; and Task of Rome GA, Inc., of Rome, GA, qualify as organizations described in sections 501(c)(3) and 170(c)(2) of the Code.

This announcement delays, until further notice, the enrollment renewal period under section 10.6(d) of the regulations governing practice before the IRS, which are reprinted as Treasury Department Circular No. 230, 31 CFR part 10 (Circular 230), for enrolled agents with social security numbers or tax identification numbers ending in 4, 5, or 6.