Written and electronic comments responding to the notice of proposed rulemaking were received. A public hearing on the proposed regulations was held on January 15, 2009. On July 29, 2008, the Treasury Department published a notice of proposed rulemaking (REG-106251-08) in the Federal Register ( 73 FR 43875) under section 423. In Notice 2004-55 (2004-34 IRB 319 (August 23, 2004)) (see § 601.601(d)(2)(ii)( b)), the IRS and the Treasury Department requested comments concerning whether the existing regulations under section 423 should be amended, and if so, what issues should be addressed. These Start Printed 75regulations were amended on Septem(TD 7645), Octo(TD 7728), and Decem(TD 8235). Regulations under section 423 were published in the Federal Register on J(TD 6887). Changes to the applicable law concerning section 423 were made by sections 1402(b)(1)(C) and 1402(b)(2) of the Tax Reform Act of 1976, Public Law 94-455 (90 Stat. Section 423 was added to the Code by section 221(a) of the Revenue Act of 1964, Public Law 88-272 (78 Stat. This document contains final amendments to the Income Tax Regulations ( 26 CFR part 1) under sections 421, 422, 423 and 424 of the Code. End Further Info End Preamble Start Supplemental Information SUPPLEMENTARY INFORMATION: Background Thomas Scholz or Ilya Enkishev at (202) 622-6030 (not a toll-free number). Start Further Info FOR FURTHER INFORMATION CONTACT: DATES:Įffective Date: These regulations are effective on November 17, 2009.Īpplicability Date: These regulations apply as of January 1, 2010. This document also contains final regulations under sections 421, 422 and 424 of the Code. These final regulations provide guidance to assist taxpayers in complying with section 423 in addition to clarifying certain rules regarding options granted under an employee stock purchase plan. These final regulations affect certain taxpayers who participate in the transfer of stock pursuant to the exercise of options granted under an employee stock purchase plan. This document contains the final regulations relating to options granted under an employee stock purchase plan as defined in section 423 of the Internal Revenue Code (Code). Internal Revenue Service (IRS), Treasury.
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