This notice provides interim guidance addressing whether certain Medicaid coverage of COVID-19 testing and diagnostic services is minimum essential coverage for purposes of the premium tax credit under section 36B of the Internal Revenue Code. This notice also announces that the Department of the Treasury and the Internal Revenue Service intend to amend § 1.5000A-2 of the Income Tax Regulations to add Medicaid coverage of COVID-19 testing and diagnostic services to the list of health care coverage that is not minimum essential coverage under a government-sponsored program.

Announcement 2020-17 postpones, until January 15, 2021, the due dates for reporting and paying the excise taxes under §§ 4971(a)(1) and 4971(f)(1) of the Internal Revenue Code with respect to certain delayed minimum required contributions to a single employer defined benefit plan. This postponement applies with respect to a required contribution to which the extended due date under § 3608(a) of the Coronavirus Aid, Relief, and Economic Security Act, Pub. L. No. 116-136 (134 Stat. 281) (CARES Act), applies.

This notice sets forth updates on the corporate bond monthly yield curve, the corresponding spot segment rates for September 2020 used under § 417(e)(3)(D), the 24-month average segment rates applicable for September 2020, and the 30-year Treasury rates, as reflected by the application of § 430(h)(2)(C)(iv).

This notice contains a proposed revenue procedure with a safe harbor for a trade or business that manages or operates a qualified residential living facility to be treated as a real property trade or business solely for purposes of qualifying as an electing real property trade or business under section 163(j)(7)(B) of the Internal Revenue Code.

Optional special per diem rates. This notice provides the 2020-2021 special per diem rates for taxpayers to use in substantiating the amount of ordinary and necessary business expenses incurred while traveling away from home. The notice includes (1) the special transportation industry rate, (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 of proposed rulemaking supplements TD 9905 and provides rules concerning the limitation on the deduction for business interest expense. Specifically, these proposed regulations address application of the limitation in contexts involving passthrough entities, regulated investment companies (RICs), United States shareholders of controlled foreign corporations, and foreign persons with effectively connected income in the United States. These proposed regulations also provide guidance regarding the definitions of real property development, real property redevelopment, and a syndicate.

Revenue Procedure 2020-41 provides domestic asset/liability percentages and domestic investment yields needed by foreign life insurance companies and foreign property and liability insurance companies to compute their minimum effectively connected net investment income under section 842(b) of the Internal Revenue Code for taxable years beginning after December 31, 2018.

26 CFR 601.601. Rules and regulations.

(Also Part I, §163(j).)

26 CFR 601.105: Examination of returns and claims for refund, credit or abatement; determination of tax liability (Also: 842(b))

This revenue ruling provides guidance on what constitutes a change in basis of computing life insurance reserves under § 807(f) of the Internal Revenue Code, as amended by the Tax Cuts and Jobs Act. This revenue ruling provides specific holdings in a number of different situations, with each holding indicating whether the described situation is a change in basis under § 807(f).

This document contains final regulations providing guidance about the limitation on the deduction for business interest expense. The regulations provide guidance to taxpayers on how to calculate the limitation, what constitutes interest for purposes of the limitation, which taxpayers and trades or businesses are subject to the limitation, and how the limitation applies in consolidated group, partnership, international, and other contexts.

26 CFR 1.163(j)-1 through -11, etc.