EXEMPT ORGANIZATIONS

Announcement 2017–12 Announcement 2017–12

Revocation of IRC 501(c)(3) Organizations for failure to meet the code section requirements. Contributions made to the organizations by individual donors are no longer deductible under IRC 170(b)(1)(A).

EMPLOYEE PLANS

Notice 2017–45 Notice 2017–45

The notice extends temporary relief under Notice 2014–5 from section 401(a)(4) nondiscrimination testing for closed defined benefit plans through plan years beginning before 2019, and provides that taxpayers may continue to rely on the proposed regulations for the same period.

ADMINISTRATIVE

Notice 2017–47 Notice 2017–47

Notice 2017–47 provides penalty relief to partnerships and REMICs that filed certain untimely returns or untimely requests for extension of time to file those returns for the first taxable year that began after December 31, 2015, by the fifteenth day of the fourth month following the close of that taxable year.

INCOME TAX

Notice 2017–47 Notice 2017–47

Notice 2017–47 provides penalty relief to partnerships and REMICs that filed certain untimely returns or untimely requests for extension of time to file those returns for the first taxable year that began after December 31, 2015, by the fifteenth day of the fourth month following the close of that taxable year.

Rev. Proc. 2017–47 Rev. Proc. 2017–47

Safe Harbor for Inadvertent Normalization Violations. This revenue procedure provides a safe harbor concerning inadvertent or unintentional uses of a practice or procedure that is inconsistent with §§ 50(d)(2) and 168(i)(9) of the Internal Revenue Code of 1986, as amended, which require the use of the Normalization Rules. If the safe harbor provided in this revenue procedure applies, the Internal Revenue Service will not assert that a taxpayer’s inadvertent or unintentional use of a practice or procedure that is inconsistent with §§ 50(d)(2) and 168(i)(9) constitutes a violation of the Normalization Rules. This revenue procedure does not limit or change the process by which a taxpayer may request a letter ruling or a referral for a technical advice memorandum that the taxpayer’s proposed practice or procedure is consistent or inconsistent with the Normalization Rules.