EMPLOYEE PLANS

Rev. Rul. 2022-13, page 99.

This revenue ruling addresses the application of section 432(b)(7) in the case of a merger of a multiemployer defined benefit pension plan that receives special financial assistance (SFA) from the Pension Benefit Guaranty Corporation into a multiemployer defined benefit pension plan that does not receive SFA.

ESTATE TAX

Rev. Proc. 2022-32, page 101.

This revenue procedure provides a simplified method for certain estates to obtain an extension of time under § 301.9100-3 to file a return on or before the fifth anniversary of the decedent’s death to elect portability of the deceased spousal unused exclusion (DSUE) amount pursuant to § 2010(c)(5)(A). This revenue procedure applies to estates that are not normally required to file an estate tax return because the value of the gross estate and adjusted taxable gifts is under the filing threshold in § 6018(a).

26 CFR 601.201: Rulings and determination letters.

(Also Part I, Section 2010; 20.2010-2; 301.9100-3)

INCOME TAX

REG 130675-17, page 104.

These proposed regulations define the term “foreign currency contract” under section 1256(g)(2) to include only foreign currency forward contracts.