Proposed regulations under Section 7508A clarify rules relating to the postponement of certain tax-related acts by reason of a Presidentially declared disaster or terroristic or military action. The proposed regulation clarifies the scope of relief under Section 7508A and specifies that interest may be suspended during the postponement period. These changes are necessary to reflect changes in the law made by the Victims of Terrorism Tax Relief Act and current IRS practice.
Part IV. Items of General Interest Notice of Proposed FOR FURTHER INFORMATION additional amounts, and additions to tax Rulemaking CONTACT: Concerning the proposed reg- which would normally accrue during the ulation Mary Ellen Keys (202) 622–4570,
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