ADMINISTRATIVE

Rev. Proc. 2020-38, page 522.

This procedure provides specifications for the private printing of red-ink substitutes for the 2020 Forms W-2 and W-3. This procedure will be produced as the next revision of Publication 1141. Rev. Proc. 2019-28 is superseded.

EMPLOYEE PLANS

Announcement 2020-14, page 549.

This announcement provides that user fees relating to certain requests for letter rulings and determination letters submitted to Employee Plans Rulings and Agreements will increase in four categories, effective January 4, 2021.

Notice 2020-60, page 514.

The notice provides procedures for the election of alternative minimum funding standards for defined benefit pension plans sponsored by community newspapers under § 430(m), which was added by § 115 of the SECURE Act. The draft notice also provides guidance and relief with respect to the election under § 430(m).

Notice 2020-64, page 519.

This notice sets forth updates on the corporate bond monthly yield curve, the corresponding spot segment rates for August 2020 used under § 417(e)(3)(D), the 24-month average segment rates applicable for August 2020, and the 30-year Treasury rates, as reflected by the application of § 430(h)(2)(C)(iv).

INCOME TAX

Rev. Proc. 2020-39, page 546.

This revenue procedure addresses normalization issues that have arisen or are anticipated in ratemaking proceedings due to the corporate tax rate decrease that was included in the Tax Cuts and Jobs Act, Pub. L. 115-97 (131 Stat 2054), enacted on December 22, 2017.

26 CFR 601.105: Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability.

(Also: § 1.168(i)-3)