SPECIAL ANNOUNCEMENT

Notice 2011-4 Notice 2011-4

This notice provides procedures for a taxpayer to obtain automatic consent to change its method of accounting for unearned premiums by reason of section 833(c)(5) of the Code. Rev. Proc. 2008-52 modified. Notice 2010-79 clarified and modified.

INCOME TAX

Rev. Rul. 2011-2 Rev. Rul. 2011-2

Federal rates; adjusted federal rates; adjusted federal long-term rate and the long-term exempt rate. For purposes of sections 382, 642, 1274, 1288, and other sections of the Code, tables set forth the rates for January 2011.

Notice 2011-2 Notice 2011-2

This notice provides guidance on the application of section 162(m)(6) of the Code. Section 162(m)(6) limits the allowable deduction for remuneration for services provided by individuals to certain health insurance providers. Section 162(m)(6) was enacted as part of the Patient Protection and Affordable Care Act (2010).

Notice 2011-4 Notice 2011-4

This notice provides procedures for a taxpayer to obtain automatic consent to change its method of accounting for unearned premiums by reason of section 833(c)(5) of the Code. Rev. Proc. 2008-52 modified. Notice 2010-79 clarified and modified.

Rev. Proc. 2011-12 Rev. Proc. 2011-12

Cost-of-living adjustments for 2011. This procedure sets forth the 2011 cost-of-living adjustments to certain items due to inflation as required under various provisions of the Code.

EMPLOYEE PLANS

Rev. Rul. 2011-1 Rev. Rul. 2011-1

This ruling modifies the rules for group trusts described in Rev. Rul. 81-100, 1981-1 C.B. 326, as clarified and modified by Rev. Rul. 2004-67, 2004-2 C.B. 28. The modifications revise the generally applicable rules for these group trusts and, if certain requirements are met, permit the participation in group trusts of custodial accounts under section 403(b)(7), retirement income accounts under section 403(b)(9), and governmental retiree benefit plans under section 401(a)(24). This ruling also modifies the transition relief provided in Rev. Rul. 2008-40, 2008-2 C.B. 166, relating to plans qualifying under section 1165 of the Puerto Rico Internal Revenue Code (Puerto Rico Code). In addition, this ruling provides related model language that may be used by group trusts to comply with these new provisions. Rev. Ruls. 81-100, 2004-67, and 2008-40 modified.

Notice 2011-1 Notice 2011-1

This notice addresses the timing of the application of the Affordable Care Act provisions prohibiting insured group health plans from discriminating in favor of highly compensated individuals. It states that the Treasury Department and the IRS, as well as the Departments of Labor and Health and Human Services, have determined that compliance with these requirements should not be required (and thus, any sanctions for failure to comply do not apply) until after regulations or other administrative guidance of general applicability has been issued. The notice includes a request for public comments.

Notice 2011-2 Notice 2011-2

This notice provides guidance on the application of section 162(m)(6) of the Code. Section 162(m)(6) limits the allowable deduction for remuneration for services provided by individuals to certain health insurance providers. Section 162(m)(6) was enacted as part of the Patient Protection and Affordable Care Act (2010).

Notice 2011-3 Notice 2011-3

Special rules relating to funding relief for single-employer pension plans under PRA 2010. This notice provides guidance on the special rules relating to funding relief for single-employer defined benefit pension plans (including multiple employer defined benefit pension plans) under the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 (PRA 2010).

EXEMPT ORGANIZATIONS

Rev. Proc. 2011-9 Rev. Proc. 2011-9

Determination letters and rulings. This document sets forth procedures for issuing determination letters and rulings on the exempt status of organizations under sections 501 and 521 of the Code. The procedures also apply to the revocation and modification of determination letters or rulings, and provide guidance on the exhaustion of administrative remedies for purposes of declaratory judgment under section 7428. Rev. Proc. 2010-9 superseded.

Rev. Proc. 2011-10 Rev. Proc. 2011-10

This document sets forth updated procedures with respect to issuing rulings and determination letters on private foundation status under section 509(a) of the Code, operating foundation status under section 4942(j)(3), and exempt operating foundation status under section 4940(d)(2), of organizations exempt from Federal income tax under section 501(c)(3). This document also applies to the issuance of determination letters on the foundation status under section 509(a)(3) of nonexempt charitable trusts described in section 4947(a)(1). Rev. Procs. 72-50 and 76-34 modified and superseded. Announcements 85-88 and 2009-62 obsoleted.

ADMINISTRATIVE

REG-124018-10 REG-124018-10

Proposed regulations under Part 300 of the Code would amend regulations relating to the imposition of user fees for enrolled agents and enrolled retirement plan agents. A public hearing is scheduled for January 14, 2011.

Notice 2011-4 Notice 2011-4

This notice provides procedures for a taxpayer to obtain automatic consent to change its method of accounting for unearned premiums by reason of section 833(c)(5) of the Code. Rev. Proc. 2008-52 modified. Notice 2010-79 clarified and modified.

Announcement 2011-1 Announcement 2011-1

Update to Publication 1220 (Revised 8-2010). This announcement contains an update to Publication 1220, Specifications for Filing Forms 1097-BTC, 1098, 1099, 3921, 3922, 5498, 8935, and W-2G Electronically (Revised 8-2010) concerning the filing of Form 1099-R.