ADMINISTRATIVE

Rev. Proc. 2023-39, page 1590.

This revenue procedure provides specifications for the private printing of red-ink and black-and-white substitutes for the August 2023 revisions of Forms W-2c and W-3c. This revenue procedure will be produced as the next revision of Publication 1223. Rev. Proc. 2016-20, 2016-13 IRB dated March 28, 2016, is superseded.

NOTE. This revenue procedure will be reproduced as the next revision of IRS Publication 1223, General Rules and Specifications for Substitute Forms W-2c and W-3c.

26 CFR 601.602: Tax forms and instructions. (Also Part I, Sections 6041, 6051, 6071, 6081, 6091; 1.6041-1, 1.6041-2, 31.6051-1, 31.6051-2, 31.6071(a)-1, 31.6081(a)-1, 31.6091-1.)

EMPLOYEE PLANS

Notice 2023-79, page 1581.

This notice sets forth the 2023 Required Amendments List (2023 RA List). The 2023 RA List applies to both individually designed plans qualified under section 401(a) of the Internal Revenue Code (qualified individually designed plans) and individually designed plans that satisfy the requirements of section 403(b) (section 403(b) individually designed plans).

EXEMPT ORGANIZATIONS

Announcement 2023-35, page 1615.

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(c).

INCOME TAX

Notice 2023-80, page 1583.

This notice announces that Treasury and the IRS intend to issue proposed regulations to address the application of the foreign tax credit and related rules and the dual consolidated loss (DCL) rules to certain types of taxes described in the GloBE Model Rules. This notice also extends and modifies the temporary relief described in Notice 2023-55 for determining whether a foreign tax is eligible for a foreign tax credit under §§ 901 and 903.

REG-132569-17, page 1616.

This document contains proposed regulations that would amend the regulations relating to the energy credit for the taxable year in which eligible energy property is placed in service. This document also withdraws and reproposes, for additional clarity, portions of previously proposed regulations regarding the increased energy credit amount available if prevailing wage and registered apprenticeship requirements are met.

Rev. Proc. 2023-41, page 1607.

The revenue procedure sets forth the unpaid loss discount factors for the 2023 accident year for purposes of section 846 of the Internal Revenue Code. The revenue procedure also prescribes the salvage discount factors for the 2023 accident year, which must be used to compute discounted estimated salvage recoverable under section 832 of the Internal Revenue Code.

26 CFR 601.201: Rulings and determination letters. (Also: Part I, Sections 832, 846; 1.832-4, 1.846-1.)