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IRS Technical Guidance and Notices

IRS Technical Guidance and Notices
  • Notice 2015-3 provides rules for claimants to make one-time claims for the retroactively extended 2014 biodiesel mixture and alternative fuel excise tax credits.  It also provides guidance for claimants to claim the other retroactively extended credits for 2014, including the alternative fuel mixture excise tax credit. This will appear in IRB 2015-6 dated February 9, 2015. 
  • Notice 2015-08 provides guidance on section 45R for certain small employers that cannot offer a qualified health plan (QHP) through a Small Business Health Options Program (SHOP) Exchange because the employer’s principal business address is in a county in which a QHP through a SHOP Exchange will not be available for the 2015 calendar year (the counties, which are listed in the notice, are all in Iowa).  Notice 2015-08 will appear in IRB 2015-06, dated February 9th, 2015. 

  • Revenue Procedure 2015-13 updates and revises the general procedures under § 446(e) of the Internal Revenue Code and § 1.446-1(e) of the Income Tax Regulations to obtain the consent of the Commissioner of Internal Revenue (Commissioner) to change a method of accounting for federal income tax purposes.  Specifically, this revenue procedure provides the general procedures to obtain the advance (non-automatic) consent of the Commissioner to change a method of accounting and provides the procedures to obtain the automatic consent of the Commissioner to change a method of accounting described in Rev. Proc. 2015-14, 2015-5 I.R.B., (or successor) (List of Automatic Changes).  
  • Revenue Procedure 2015-14 provides the List of Automatic Changes to which the automatic change procedures in Rev. Proc. 2015-13, 2015-5 I.R.B., (or successor) apply.  The definitions in section 3 of Rev. Proc. 2015-13 apply to this revenue procedure. Both Revenue Procedures will be in IRB 2015-5, dated February 2nd, 2015. 
  • Revenue Procedure 2015-15 provides the 2015 monthly national average premium for qualified health plans that have a bronze level of coverage for taxpayers to use in determining their maximum individual shared responsibility payment under § 5000A(c)(1)(B) of the Internal Revenue Code and § 1.5000A-4 of the Income Tax Regulations.  Revenue Procedure 2015-15 will appear in IRB 2015-05 dated February 2nd, 2015. 

Source:  IRS Guidewire and eNews for Professionals Publications

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