This is the table of contents of Internal Revenue Bulletin IRB 2016-34. 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.
This document contains a correction to Notice 2016–44, as published on Monday, July 18, 2016 (I.R.B. 2016–29, 132). In particular, this announcement corrects one administrative item.
The IRS will treat the sample provision in this revenue procedure as a qualified contingency under section 664(f). A CRAT containing the sample provision will not be subject to the probability of exhaustion test set forth in Rev. Rul. 70–452, 1970–2 C.B. 199, and applied in Rev. Rul. 77–374, 1977–2 C.B. 329.
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).
The IRS will treat the sample provision in this revenue procedure as a qualified contingency under section 664(f). A CRAT containing the sample provision will not be subject to the probability of exhaustion test set forth in Rev. Rul. 70–452, 1970–2 C.B. 199, and applied in Rev. Rul. 77–374, 1977–2 C.B. 329.
The IRS will treat the sample provision in this revenue procedure as a qualified contingency under section 664(f). A CRAT containing the sample provision will not be subject to the probability of exhaustion test set forth in Rev. Rul. 70–452, 1970–2 C.B. 199, and applied in Rev. Rul. 77–374, 1977–2 C.B. 329.
The Treasury Department and the IRS recently issued temporary and proposed regulations under section 7705 of the Internal Revenue Code (Code) addressing the requirements relating to an application for and maintenance of certification as a Certified Professional Employer Organization (CPEO), as well as a revenue procedure setting forth detailed procedures for applying for certification as a CPEO. In response to comments that certain requirements in the regulations and revenue procedure may inappropriately limit the ability of persons to apply for and maintain certification as a CPEO, this notice specifies revisions that are intended to be made to the temporary regulations and revenue procedure and provides reliance until further guidance containing those revisions is published. In addition, this notice provides CPEO applicants with additional time to submit a complete and accurate application for certification in order to be eligible for an effective date of certification of January 1, 2017.
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