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This notice provides a safe harbor under which a transfer of property from an electricity generator to a regulated public utility, used to facilitate the transmission of electricity over the utility's transmission system, will not be treated as income under section 118. Notice 88–129, Notice 90–60, and Notice 2001–82 are modified and superseded by this notice.
The Stephen Beck, Jr., Achieving a Better Life Experience Act of 2014 requires the establishment of a voluntary certification program for professional employer organizations. A professional employer organization, sometimes referred to as an employee leasing company, is an organization that enters into an agreement with a client to perform some or all of the federal employment tax withholding, reporting, and payment functions related to workers performing services for the client. Being certified by the IRS as a certified professional employer organization (CPEO) has certain federal employment tax consequences for both the CPEO and its clients. This revenue procedure describes the process by which a person applies for certification as a CPEO and the requirements a person must satisfy in order to become a CPEO.
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