This is the table of contents of Internal Revenue Bulletin IRB 2012-42. 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.
Federal rates; adjusted federal rates; adjusted federal long-term rate and the long-term exempt rate. For purposes of sections 382, 642, 1274, 1288, and other sections of the Code, tables set forth the rates for October 2012.
Extension of replacement period for livestock sold on account of drought. This notice explains the circumstances under which the 4-year replacement period under section 1033(e)(2) of the Code is extended for livestock sold on account of drought. The Appendix to this notice contains a list of the counties that experienced exceptional, extreme, or severe drought during the preceding 12-month period ending August 31, 2012. Taxpayers may use this list to determine if an extension is available.
This notice provides guidance on the special rules relating to pension funding stabilization for single employer defined benefit pension plans under amendments to the Internal Revenue Code (Code) and the Employee Retirement Income Security Act of 1974 (ERISA) made by the Moving Ahead for Progress in the 21st Century Act (MAP-21), Pub. L. No. 112-141. MAP-21, which was enacted July 6, 2012, contains a number of pension provisions in Division D (Finance).
Capital loss carryforward effective date. This ruling holds that the effective date of section 101 of the Regulated Investment Company Modernization Act of 2010, Pub. L. 111-325 (2010), for excise tax purposes is the calendar year following the date of enactment, or the calendar year beginning January 1, 2011.
Optional special per diem rates. This notice provides the 2012-2013 special per diem rates for taxpayers to use in substantiating the amount of ordinary and necessary business expenses incurred while traveling away from home, specifically (1) the special transportation industry rates, (2) the rate for the incidental expenses only deduction, and (3) the rates and list of high-cost localities for the high-low substantiation method. This notice also announces a change in the definition of incidental expenses under the Federal Travel Regulations. Notice 2011-81 superseded.
This document provides notice of public hearing on proposed regulations (REG-13066-11, 2012-32 I.R.B. 126) that provide guidance regarding the requirements for charitable hospital organizations relating to financial assistance and emergency medical care policies, charges for certain care provided to individuals eligible for financial assistance, and billing and collections. A public hearing is scheduled for October 29, 2012.
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