Notice 2023-74 provides that calendar year 2023 will be regarded as a further transition period for purposes of IRS enforcement and administration of the minimum reporting threshold for Form 1099-K, Payment Card and Third Party Network Transactions. With respect to calendar years beginning before January 1, 2024, a third party settlement organization is not required to report payments in settlement of third party network transactions with respect to a participating payee unless the amount to be reported exceeds $20,000 and the number of such transactions with that participating payee exceeds 200.

This proposed revenue procedure specifies when information shown on a return in accordance with the applicable forms and instructions will be an adequate disclosure for purposes of reducing an understatement of income tax under section 6662(d) and for purposes of avoiding the section 6694(a) preparer penalty. This revenue procedure updates Rev. Proc. 2022-41, 2022-50 I.R.B. 527, and applies to any income tax return filed on 2023 tax forms for a taxable year beginning in 2023, and to any income tax return filed in 2024 on 2023 tax forms for short taxable years beginning in 2024.

26 CFR 601.105: Examination of returns and claims for refund, credit or abatement; determination of correct tax liability.

(Also: Part 1, §§ 6662, 6694, 1.6662-4, 1.6694-2)

This document sets forth a proposed regulation that would amend the rules applicable to plans that include cash or deferred arrangements to provide guidance with respect to long-term, part-time employees. The proposed regulation reflects statutory changes made by the SECURE Act and the SECURE 2.0 Act that relate to long-term, part-time employees. The proposed regulation would affect participants in, beneficiaries of, employers maintaining, and administrators of plans that include cash or deferred arrangements. This document also provides notice of a public hearing.

This revenue procedure sets forth the rules regarding qualified pre-approved plans and section 403(b) pre-approved plans, and combines, conforms, clarifies, and updates rules for those plans previously set forth in prior revenue procedures.

This revenue procedure updates the procedures under § 30D(d)(3) of the Internal Revenue Code (Code) for qualified manufacturers to enter into a written agreement with the Secretary of the Treasury or her delegate (Secretary) under which such manufacturer agrees to make periodic written reports to the Secretary providing vehicle identification numbers and other information regarding vehicles eligible for a clean vehicle credit. Vehicles eligible for the clean vehicle credit under § 30D of the Code (§ 30D credit), the qualified commercial clean vehicles credit under § 45W of the Code (§ 45W credit), and the previously-owned clean vehicles credit under § 25E of the Code (§ 25E credit), generally must be manufactured by a qualified manufacturer as described in § 30D(d)(1)(C) and (d)(3). See §§ 45W(c)(1) and 25E(c)(1)(D)(i). This revenue procedure establishes the procedures for qualified manufacturers to submit information regarding vehicles for upfront review by the Department of Energy, to ensure the vehicles are eligible for the § 30D credit for the calendar year at issue in accordance with the excluded entities provision of § 30D(d)(7).

Submission of Information to IRS by Qualified Manufacturers of Clean Vehicles, Previously-Owned Clean Vehicles, and Commercial Clean Vehicles

2023 Base Period T-Bill Rate. The “base period T-bill rate” for the period ending September 30, 2023 is published as required by section 995(f) of the Internal Revenue Code.

2023 Base Period T-Bill Rate. The “base period T-bill rate” for the period ending September 30, 2023, is published as required by section 995(f) of the Internal Revenue Code.

This revenue procedure updates and supersedes Rev. Proc. 2022-35. Ecuador is added to the list of jurisdictions with which the United States has in effect a relevant information exchange agreement. Argentina and Kazakhstan are added to the list of countries with which Treasury and the IRS have determined it is appropriate to have an automatic exchange relationship with respect to the information collected under Treas. Reg. §§ 1.6049-4(b)(5) and 1.6049-8(a).

26 CFR 601.601: Rules and regulations

(Also Part 1, §§ 6049; 1.6049-4, 1.6049-8)