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TREAS/IRS RIN: 1545-BI09 Publication ID: Fall 2010 
Title: Election of Reduced Credit 
Abstract: These proposed regulations revise the reduced section 41 credit election in section 1.280C-4(a). Under section 1.280C-4(a), the election under section 280C(c)(3) is made by claiming the reduced credit under section 41(a) on an original return for the taxable year, filed at any time on or before the due date (including extensions) for filing the income tax return for such year. The guidance would amend section 1.280C-4(a) in light of the generic legal advice memo (AM-2008-02, Feb. 8, 2008) on section 280(c)(3) which provides that a taxpayer should be treated as having made a valid reduced section 41 credit election if the taxpayer clearly indicates the intent to claim the reduced credit on a timely filed original return for the taxable year. 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 26 CFR 1.280C-4(a)   
Legal Authority: 26 USC 280C(c)(3)(c)    26 USC 7805   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  07/16/2009  74 FR 34523   
NPRM Comment Period End  10/14/2009    
Outlines of Topics Due  10/16/2009    
Public Hearing  11/04/2009    
Public Hearing Cancellation  10/27/2009  74 FR 55162   
Final Action  12/00/2010    
Additional Information: REG-130200-08 Drafting attorney: David A. Selig (202) 622-3040 Reviewing attorney: Paul F. Handleman (202) 622-3040 Treasury attorney: Brandon Carlton (202) 622-6865 CC: PSI
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
James W. Rider
Attorney-Advisor (Tax)
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW., Room 5107,
Washington, DC 20224
Phone:202 317-4137
Fax:855 591-7867
Email: james.w.rider@irscounsel.treas.gov