This Notice announces that the Treasury Department and IRS are suspending withholding obligations under section 1446(f) with respect to certain publicly traded partnership interests pending further guidance. The notice further announces that the Treasury Department and IRS intend to issue future regulations or other guidance on how to withhold, deposit, and report the tax withheld under section 1446(f) with respect to a disposition of an interest in a publicly traded partnership.

The revenue procedure sets forth the unpaid loss discount factors for the 2017 accident year for purposes of section 846 of the Internal Revenue Code. The revenue procedure also prescribes the salvage discount factors for the 2017 accident year, which must be used to compute discounted estimated salvage recoverable under section 832 of the Internal Revenue Code.

This notice (1) extends the effective period of Forms W–4 furnished for 2017 to claim exemption from income tax withholding under § 3402(n) for 2017 from February 15, 2018 until February 28, 2018 and temporarily permits employees to claim exemption from withholding under § 3402(n) for 2018 by using 2017 Form W–4, (2) suspends the requirement that employees must furnish their employers new Forms W–4 within 10 days of changes of status resulting in fewer withholding allowances, (3) provides that the optional withholding rate on supplemental wage payments is 22% for taxable years 2018 through 2025, and (4) provides that, for 2018, withholding on annuities or similar periodic payments where no withholding certificate is in effect is based on treating the payee as a married individual claiming three withholding allowances under § 3405(a)(4).

The Revenue Procedure modifies Revenue Procedure 2018–5 by applying the procedures for Exempt Organizations determination letters to new Form 1024–A, Application for Recognition of Exemption Under Section 501(c)(4) of the Internal Revenue Code.

This Notice announces that the Treasury Department and IRS are suspending withholding obligations under section 1446(f) with respect to certain publicly traded partnership interests pending further guidance. The notice further announces that the Treasury Department and IRS intend to issue future regulations or other guidance on how to withhold, deposit, and report the tax withheld under section 1446(f) with respect to a disposition of an interest in a publicly traded partnership.

This Notice announces that the Treasury Department and IRS are suspending withholding obligations under section 1446(f) with respect to certain publicly traded partnership interests pending further guidance. The notice further announces that the Treasury Department and IRS intend to issue future regulations or other guidance on how to withhold, deposit, and report the tax withheld under section 1446(f) with respect to a disposition of an interest in a publicly traded partnership.