Source: https://www.irs.gov/irb/2014-10-IRB
Timestamp: 2019-11-22 13:44:21
Document Index: 766255270

Matched Legal Cases: ['§ 430', '§ 431', '§ 412', '§ 417', '§ 10', '§ 371', '§ 10', '§ 10', '§ 7206', '§ 10', '§ 7206', '§ 7206', '§ 6672', '§ 10', '§ 10', '§ 10', '§ 7201', '§ 10', '§ 10', '§ 7206', '§ 10', '§ 10', '§ 7201', '§ 10', '§ 10', '§ 10', '§ 10', '§ 10', '§ 10', '§ 10', '§ 10']

Internal Revenue Bulletin: 2014-10 | Internal Revenue Service
Internal Revenue Bulletin: 2014-10
Notice 201413
Rev. Proc. 201419
Announcement 201413
Announcement 2014–13 Announcement 2014–13
Notice 2014–13 Notice 2014–13
This notice contains updates for the corporate bond weighted average interest rate for plan years beginning in February 2014; the 24-month average segment rates; the funding segment rates applicable for February 2014; and the minimum present value rates for January 2014. The rates in this notice reflect certain changes implemented by the Moving Ahead for Progress in the 21st Century Act, Public Law 112–141 (MAP-21).
Rev. Proc. 2014–19 Rev. Proc. 2014–19
Revenue Procedure 2014–4 as published on January 2, 2014 (2014–1 I.R.B. 125) contains errors regarding expedited handling of EO Determination Letter requests in sections 2.06 and 9.03(3). This revenue procedure corrects those errors to clarify that EO Determination Letters are still eligible for expedited handling under section 9 of Revenue Procedure 2014–4.
Notice 2014–13
Notice 2007–81, 2007–44 I.R.B. 899, provides guidelines for determining the monthly corporate bond yield curve, and the 24-month average corporate bond segment rates used to compute the target normal cost and the funding target. Pursuant to Notice 2007–81, the monthly corporate bond yield curve derived from January 2014 data is in Table I at the end of this notice. The spot first, second, and third segment rates for the month of January 2014 are, respectively, 1.24, 4.42, and 5.40. For plan years beginning on or after January 1, 2012, the 24-month average segment rates determined under § 430(h)(2)(C)(iv) must be adjusted by the applicable percentage of the corresponding 25-year average segment rates. The 25-year average segment rates for plan years beginning in 2012, 2013, and 2014 were published in Notice 2012–55, 2012–36 I.R.B. 332, Notice 2013–11, 2013–11 I.R.B. 610, and Notice 2013–58, 2013–40 I.R.B. 294, respectively. The three 24-month average corporate bond segment rates applicable for February 2014 without adjustment, and the adjusted 24-month average segment rates taking into account the applicable percentages of the corresponding 25-year average segment rates, are as follows:
morerows="1" align="center">For Plan Years Beginning In
2013 February 2014 1.22 4.06 5.09 4.94 6.15 6.76
2014 February 2014 1.22 4.06 5.09 4.43 5.62 6.22
Generally for plan years beginning after 2007, § 431 specifies the minimum funding requirements that apply to multiemployer plans pursuant to § 412. Section 431(c)(6)(B) specifies a minimum amount for the full-funding limitation described in section 431(c)(6)(A), based on the plan’s current liability. Section 431(c)(6)(E)(ii)(I) provides that the interest rate used to calculate current liability for this purpose must be no more than 5 percent above and no more than 10 percent below the weighted average of the rates of interest on 30-year Treasury securities during the four-year period ending on the last day before the beginning of the plan year. Notice 88–73, 1988–2 C.B. 383, provides guidelines for determining the weighted average interest rate. The rate of interest on 30-year Treasury securities for January 2014 is 3.77 percent. The Service has determined this rate as the average of the daily determinations of yield on the 30-year Treasury bond maturing in November 2043. The following rates were determined for plan years beginning in the month shown below.
February 2014 3.46 3.12 3.63
In general, the applicable interest rates under § 417(e)(3)(D) are segment rates computed without regard to a 24-month average. Notice 2007–81 provides guidelines for determining the minimum present value segment rates. Pursuant to that notice, the minimum present value segment rates determined for January 2014 are as follows:
1.24 4.42 5.40
Monthly Yield Curve for January 2014
Derived from January 2014 Data
0.5 0.23 20.5 5.19 40.5 5.43 60.5 5.52 80.5 5.56
1.0 0.43 21.0 5.20 41.0 5.43 61.0 5.52 81.0 5.56
1.5 0.63 21.5 5.21 41.5 5.43 61.5 5.52 81.5 5.56
2.0 0.86 22.0 5.22 42.0 5.44 62.0 5.52 82.0 5.56
2.5 1.09 22.5 5.23 42.5 5.44 62.5 5.52 82.5 5.56
3.0 1.34 23.0 5.23 43.0 5.44 63.0 5.52 83.0 5.56
3.5 1.59 23.5 5.24 43.5 5.44 63.5 5.52 83.5 5.57
4.0 1.84 24.0 5.25 44.0 5.45 64.0 5.53 84.0 5.57
4.5 2.09 24.5 5.26 44.5 5.45 64.5 5.53 84.5 5.57
5.0 2.34 25.0 5.26 45.0 5.45 65.0 5.53 85.0 5.57
5.5 2.57 25.5 5.27 45.5 5.46 65.5 5.53 85.5 5.57
6.0 2.80 26.0 5.28 46.0 5.46 66.0 5.53 86.0 5.57
6.5 3.02 26.5 5.29 46.5 5.46 66.5 5.53 86.5 5.57
7.0 3.22 27.0 5.29 47.0 5.46 67.0 5.53 87.0 5.57
7.5 3.42 27.5 5.30 47.5 5.47 67.5 5.53 87.5 5.57
8.0 3.60 28.0 5.31 48.0 5.47 68.0 5.54 88.0 5.57
8.5 3.77 28.5 5.31 48.5 5.47 68.5 5.54 88.5 5.57
9.0 3.93 29.0 5.32 49.0 5.47 69.0 5.54 89.0 5.57
9.5 4.07 29.5 5.32 49.5 5.47 69.5 5.54 89.5 5.57
10.0 4.20 30.0 5.33 50.0 5.48 70.0 5.54 90.0 5.57
10.5 4.32 30.5 5.34 50.5 5.48 70.5 5.54 90.5 5.58
11.0 4.43 31.0 5.34 51.0 5.48 71.0 5.54 91.0 5.58
11.5 4.53 31.5 5.35 51.5 5.48 71.5 5.54 91.5 5.58
12.0 4.62 32.0 5.35 52.0 5.49 72.0 5.54 92.0 5.58
12.5 4.70 32.5 5.36 52.5 5.49 72.5 5.55 92.5 5.58
13.0 4.77 33.0 5.36 53.0 5.49 73.0 5.55 93.0 5.58
13.5 4.83 33.5 5.37 53.5 5.49 73.5 5.55 93.5 5.58
14.0 4.88 34.0 5.37 54.0 5.49 74.0 5.55 94.0 5.58
14.5 4.93 34.5 5.38 54.5 5.50 74.5 5.55 94.5 5.58
15.0 4.97 35.0 5.38 55.0 5.50 75.0 5.55 95.0 5.58
15.5 5.00 35.5 5.39 55.5 5.50 75.5 5.55 95.5 5.58
16.0 5.03 36.0 5.39 56.0 5.50 76.0 5.55 96.0 5.58
16.5 5.06 36.5 5.40 56.5 5.50 76.5 5.55 96.5 5.58
17.0 5.08 37.0 5.40 57.0 5.50 77.0 5.55 97.0 5.58
17.5 5.10 37.5 5.40 57.5 5.51 77.5 5.55 97.5 5.58
18.0 5.12 38.0 5.41 58.0 5.51 78.0 5.56 98.0 5.58
18.5 5.14 38.5 5.41 58.5 5.51 78.5 5.56 98.5 5.59
19.0 5.15 39.0 5.42 59.0 5.51 79.0 5.56 99.0 5.59
19.5 5.17 39.5 5.42 59.5 5.51 79.5 5.56 99.5 5.59
20.0 5.18 40.0 5.42 60.0 5.51 80.0 5.56 100.0 5.59
Rev. Proc. 2014–19
.01 Revenue Procedure 2014–4 as published on January 2, 2014 (2014–1 I.R.B. 125) contains unintentional errors in sections 2.06 and 9.03(3). The errors are:
Section 2.06 of Rev. Proc. 2014–4 should have stated that section 9.03(3) has been modified only with respect to EP determination letter requests and not EO determination letter requests, and
Section 9.03(3) of Rev. Proc. 2014–4 should have stated that only EP Determination Letter requests (and not EO determination letter requests) are not eligible for expedited handling, and
All references in Section 9.03(3) of Rev. Proc. 2014–4 to “letter ruling” should have also included references to “determination letter.”
SECTION 2. MODIFICATIONS TO REVENUE PROCEDURE 2014-4
.01 Section 2.06 of Rev. Proc. 2014–4 is modified to add “EP” before “determination letter requests are not eligible for expedited handling.”
.02 The second sentence of the first paragraph of Section 9.03(3) of Rev. Proc. 2014–4 is modified to add “EP” before “Determination Letter requests are not eligible for expedited handling.”
.03 Section 9.03(3) of Rev. Proc. 2014–4 is modified to add the phrase “or EO determination letter” after all references to the phrase “letter ruling” in this Section.
.01 The modification in this revenue procedure will be treated as in effect as of the effective date of Rev. Proc. 2014–4, January 2, 2014.
.01 This Rev. Proc. modifies Rev. Proc. 2014–4 to ensure that EO Determination Letters remain eligible for expedited handling under Section 9.03(3) of Rev. Proc. 2014–4.
The principal author of this Revenue Procedure is Dave Rifkin of Exempt Organizations, Tax Exempt and Government Entities Division. For further information regarding this Revenue Procedure, contact Dave Rifkin at (202) 317-8525 (not a toll-free number).
Announcement 2014–13
Disbarred from practice before the IRS—An individual who is disbarred is not eligible to practice before the IRS as defined at 31 C.F.R. § 10.2(a)(4).
Disbarred by decision, Suspended by decision, Censured by decision, Monetary penalty imposed, and Disqualified after hearing—An administrative law judge (ALJ) either 1) granted the government’s summary judgment motion or 2) conducted an evidentiary hearing upon OPR’s complaint alleging violation of the regulations; and 3) issued a decision imposing one of these sanctions. After 30 days from the issuance of the decision, in the absence of an appeal, the ALJ’s decision became the final agency decision.
Disbarred by consent, Suspended by consent, Censured by consent, Monetary penalty imposed by consent, and Disqualified by consent—In lieu of a disciplinary proceeding being instituted or continued, an individual offered a consent to one of these sanctions and OPR accepted the offer. Typically, an offer of consent will provide for: suspension for an indefinite term; conditions that the individual must observe during the suspension; and the individual’s opportunity, after a stated number of months, to file with OPR a petition for reinstatement affirming compliance with the terms of the consent and affirming current eligibility to practice (i.e., an active professional license or active enrollment status).
OPR has authority to disclose the grounds for disciplinary sanctions in these situations: (1) an ALJ or the Secretary’s delegate on appeal has issued a decision on or after September 26, 2007, which was the effective date of amendments to the regulations that permit making such decisions publicly available; (2) the individual has settled a disciplinary case by signing OPR’s “consent to sanction” form, which requires consenting individuals to admit to one or more violations of the regulations and to consent to the disclosure of the individual’s own return information related to the admitted violations (for example, failure to file Federal income tax returns); or (3) OPR has issued a decision in an expedited proceeding for indefinite suspension.
Tucson Heckinger, Robert F. Enrolled Agent Suspended by consent (guilty plea in USDC of Arizona for 18 U.S.C. § 371 and 1014, conspiracy to provide false statements to influence a bank) (31 C.F.R. § 10.51(a)(2)) Indefinite from June 24, 2013
Visalia Frantz, Mark A. CPA Suspended by decision in expedited proceeding under 31 C.F.R. § 10.82 (conviction under 26 U.S.C § 7206(2), aiding and assisting the preparation of a false income tax return) Indefinite from August 19, 2013
Milford Thorndike, Thomas Unenrolled Return Preparer Suspended by default decision in expedited proceeding under 31 C.F.R. § 10.82 (conviction under 26 U.S.C § 7206(2), aiding and assisting the preparation of a false income tax return, and 26 U.S.C. § 7206(1), making and subscribing a false income tax return) Indefinite from August 23, 2013
Sunrise Gass, Daniel G. Attorney/CPA Disbarred by default decision (failure to pay Federal Individual Income Tax Return for tax years 1999, 2004, and 2010; failure to pay Quarterly Federal Employment Tax Returns for 1st quarter 2009, 1st and 2nd quarters 2010, and 4th quarter 2011; failed to file Form 941 for the 2nd quarter 2012; failure to pay Trust Fund Recovery Penalty under 26 U.S.C. § 6672 for the 4th quarter 1997, 2nd and 3rd quarters 1998, 1st, 2nd and 3rd quarters 2001, 2nd, 3rd, and 4th quarters 2007, all quarters 2008 and 2009, 3rd and 4th quarters 2010, 1st and 2nd quarters 2011; and failure to pay past due Federal Employment Taxes for four businesses in access of $85,386.00. (31 C.F.R. § 10.51(a)(6)) Indefinite from September 29, 2013
Baton Rouge Blackwell, Brian R. CPA Suspended by default decision in expedited proceeding under 31 C.F.R. § 10.82 (revocation of CPA license) Indefinite from July 23, 2013
Ada Rominger, Charles S. Attorney Suspended by default decision in expedited proceeding under 31 C.F.R. § 10.82 (conviction under 26 U.S.C § 7201, tax evasion) Indefinite from October 25, 2013
Dowagiac Ross, Jr., Charles C. CPA Suspended by default decision in expedited proceeding under 31 C.F.R. § 10.82 (suspension of CPA license) Indefinite from July 15, 2013
Brooklyn Park Sea, Bobby G. Attorney Suspended by default decision in expedited proceeding under 31 C.F.R. § 10.82 (conviction under 26 U.S.C § 7206(1), filing false income tax return) Indefinite from September 9, 2013
Fair Lawn Casale, Michael A. Attorney Suspended by default decision in expedited proceeding under 31 C.F.R. § 10.82 (suspension of attorney license) Indefinite from September 9, 2013
Long Beach Feerst, Barry R. Attorney Reinstated to practice before the IRS, effective August 23, 2013
Rutherford Gallagher, Joseph W. Unenrolled Return Preparer Suspended by default decision in expedited proceeding under 31 C.F.R. § 10.82 (conviction under 26 U.S.C § 7201, tax evasion) Indefinite from October 30, 2013
Waxhaw Ashley, Cynthia S. Enrolled Agent Disbarred by decision (failure to timely file Federal Individual Income Tax Returns for tax years 2007–2011) (31 C.F.R. § 10.51(a)(6)) Indefinite from October 9, 2013
Solon Davis, Scott E. CPA Reinstated to practice before the IRS, effective August 23, 2013
Butler Sulkoske, Jr., Edward B. Enrolled Agent Disbarred by decision (failure to file timely Federal income tax returns for tax years 2008-2011, failure to estimate taxes and pay tax liabilities for tax years 2009-2011, (31 C.F.R. § 10.51(a)(6)), and failing to respond to requests from IRS (31 C.F.R. § 10.20)) Indefinite from August 18, 2013
Springfield Bell, Robert E. CPA Suspended by default decision in expedited proceeding under 31 C.F.R. § 10.82 (revocation of CPA license) Indefinite from November 8, 2013
Cotulla Box, Cheryl A. CPA Suspended by default decision in expedited proceeding under 31 C.F.R. § 10.82 (suspension of CPA license) Indefinite from September 9, 2013
Southlake Ybarra (aka Mondrianh), Karena Unenrolled Return Preparer Disbarred by consent (permanent injunction in U.S. District Court barring practitioner from preparing and/or filing any federal tax returns, amended returns or other federal tax documents; and from representing anyone other than herself before the IRS) (31 C.F.R. § 10.8(a)) Indefinite from November 8, 2013
Vancouver Christensen, David O. CPA Disbarred by decision (felony conviction for theft in Washington State Superior Court (31 C.F.R. § 10.51(a)(2)), and revocation of CPA license in Washington State and Oregon) (31 C.F.R. § 10.51(a)(10)) Indefinite from August 23, 2013
Bulletins 2014–1 through 2014–10
2014-10 2014-9 I.R.B. 2014-9 605
2014-12 2014-9 I.R.B. 2014-9 606
2014-16 2014-9 I.R.B. 2014-9 606
2014-20 2014-9 I.R.B. 2014-9 614
9655 2014-9 I.R.B. 2014-9 541
2011-14 Modified by Rev. Proc. 2014-16 2014-9 I.R.B. 2014-9 606
2011-14 Clarified by Rev. Proc. 2014-16 2014-9 I.R.B. 2014-9 606
2012-19 Modified by Rev. Proc. 2014-16 2014-9 I.R.B. 2014-9 606
2012-19 Superseded by Rev. Proc. 2014-16 2014-9 I.R.B. 2014-9 606