Source: https://www.cpehours.com/basics-beyond-tax-newlsetter-february-2020/
Timestamp: 2020-04-05 04:50:14
Document Index: 598510050

Matched Legal Cases: ['§ 179', '§ 863', '§6402', '§301', '§301', '§ 170']

Basics & Beyond Tax Newsletter February 2020 - Basics & Beyond
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Basics & Beyond Tax Newsletter February 2020
February 4th, 2020 Claudine
Several issues to review before we get deep into filing season are in the monthly tax newsletter. Changes in law, the standard mileage rates, transcripts and a review of Timely Mailing rules will serve you well as we soon become immersed with tax returns.
We have also highlighted Illinois’s new guidance on Nexus.
Each month we will try to highlight state guidance on an area of tax concern.
The 2020 Webinar Schedule is now available, check it out here.
Repeal of Select ACA Taxes and Other Healthcare Issues
IRS Issues 2020 Standard Mileage Rates – Notice 2020-05
Source of Income from Certain Sales of Personal Property – Reg- 100956-19
Requests for Transcripts Through e-Services
Proposed Rules for Identifying and Recovering Misdirected Direct Deposit Refunds – Reg. 116163-19
Client Letter Concerning the SECURE Act
Highlight of the Taxpayer Advocates Report to Congress
Guidance for the Qualified Business Income Deduction on a Substitute for Return (SFR) – SBSE-04-1219-0054
Guidance to Charities that Receive Donations of Virtual Currency
IRS P.O. Box Closings
IRS Provides Relief to Financial institutions Affected by Tax Change Raising the Age for Required Minimum Distributions
IRS and Treasury Issued Guidance for Students with Discharged Student Loans and Their Creditors – Criteria Must be Met
Additional Resources for Marketplace Facilitators, Marketplace Sellers and Remote Sellers in Illinois
Annual Enrollment Renewal Application Period for EA’s
Timely Mailing as Timely Filing or Payment—The Postmark Date Rule
Rul. 2020-3 – Applicable Federal Rates for February 2020
Issue 1: Repeal of Select ACA Taxes and Other Healthcare Issues
When the President signed two Senate-passed appropriations bills on December 20, 2019 it funded the government through September 30, 2020.
In addition, it repealed or made changes or funding to:
The Affordable Care Act “Cadillac” tax on employer-sponsored health plans repealed effective in 2020.
The 2.3% tax on medical devices, repealed effective 2020.
Health insurer fee repealed effective 2021.
An extension of the 7.5% medical expense deduction, overrides the 10% amount phased in from the Tax Cuts and Jobs Act.
The minimum age to purchase tobacco products nationwide was raised to age to 21.
Funding for the Patient-Centered Outcomes Research Institute (PCORI) was approved for ten years.
Issue 2: IRS Issues 2020 Standard Mileage Rates – Notice 2020-05
The IRS issued the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on January 1, 2020, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
It is important to note that under the Tax Cuts and Jobs Act, taxpayers cannot claim a miscellaneous itemized deduction for unreimbursed employee travel expenses. Taxpayers also cannot claim a deduction for moving expenses, except members of the Armed Forces on active duty moving under orders to a permanent change of station. Review Rev. Proc. 2019-46.
A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a § 179 deduction for that vehicle. In addition, the business standard mileage rate cannot be used for more than five vehicles used simultaneously. Review 4.05 of Rev. Proc. 2019-46.
Issue 3: Source of Income from Certain Sales of Personal Property – Reg- 100956-19
Treasury and the IRS issued proposed regulations on Special Rules for Determining Source.
Gains, profits and income from the sale or exchange of inventory property that is produced in whole or in part within the United States and sold outside of the United States (or vice versa) is allocated and apportioned between U.S. and foreign sources solely on the basis of the production activities, § 863(b), as amended by the Tax Cuts and Jobs Act.
Under the tax reform rule, if income is produced entirely in the United States, it is U.S. source income. Income produced entirely in a foreign country is foreign source income. Inventory produced in both the United States and a foreign country is mixed-source income. Finally, these proposed regulations modify certain rules for determining whether foreign source income is effectively connected with the conduct of a trade or business within the United States.
Issue 4: Requests for Transcripts Through e-Services
IRS will be updating its databases from which Return Transcripts and Record of Account transcripts generate on January 4, 2020. Once these databases update, you will no longer be able to request Tax Year 2015 Return Transcripts and Record of Account Transcripts.
Issue 5: Proposed Rules for Identifying and Recovering Misdirected Direct Deposit Refunds – Reg. 116163-19
The proposed regulations provide guidance on §§6402(n)and 6402(n) of the Internal Revenue Code (Code), concerning the procedures for identification and recovery of a misdirected direct deposit refund. The regulations reflect changes to the law made by the Taxpayer First Act. The proposed regulations affect taxpayers who have made a claim for refund, requested the refund be issued as a direct deposit, but did not receive a refund in the account designated on the claim for refund.
In §301.6402-2(g)(1), a misdirected direct deposit refund is defined as any refund of an overpayment of tax that is disbursed as a direct deposit but is not deposited into the account designated on the claim for refund. This typically occurs when the IRS or a taxpayer mistakenly inputs or provides to the tax professional an incorrect account or routing number from the claim for refund. A misdirected direct deposit refund can also occur if a financial institution mistakenly credits the payment to an account other than the account designated in the IRS’s direct deposit instruction.
Not all instances where a taxpayer fails to receive a direct deposit in the account designated on the claim for refund are the result of a misdirected direct deposit refund. The requested tax refund may have instead been issued in the form of a paper check or may not have been issued at all if the IRS adjusted the requested refund amount during the processing of the tax return or offset the requested tax refund to pay certain debts.
301.6402-2(g)(2) of the proposed regulations designates the method of reporting a misdirected direct deposit refund.
Taxpayers may submit Form 3911.
May report a missing refund orally through an IRS customer service line
Report a missing refund, after scheduling an appointment, through submission of the Form 3911 in person at a Taxpayer Assistance Center.
If experiencing a hardship, the taxpayer may report a missing refund to TAS by telephone, facsimile, mail or in person.
If the IRS determines a direct deposit was issued, it will initiate a refund trace for any missing refund in accordance with the procedures set out in §301.6402-2(g)(3) of the proposed regulations.
301.6402-2(g)(4) of the proposed regulations establishes that when a misdirected direct deposit refund has been identified by the IRS, the IRS will issue a replacement refund in the full amount of the refund that was misdirected. The refund will generally be issued as soon as possible to make the taxpayer whole and limit credit interest.
Issue 6: IRS Helps Workers, Businesses with New Gig Economy Tax Center
The IRS launched a new Gig Economy Tax Center on IRS.gov to help people in this growing area meet their tax obligations through more streamlined information.
The gig economy is also known as the sharing, on-demand or access economy. It usually includes businesses that operate an app or website to connect people to provide services to customers. While there are many types of gig economy businesses, ridesharing and home rentals are two of the most popular.
The Gig Economy Tax Center offers tips and resources on a variety of topics including:
Issue 7: Client Letter Concerning the SECURE Act
You can use the Client Letter that follows to inform your clients of key provisions under the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) that affect individuals.
Partial elimination of stretch IRAs. For deaths of plan participants or IRA owners occurring before 2020, beneficiaries (both spousal and non-spousal) were generally allowed to stretch out the tax-deferral advantages of the plan or IRA by taking distributions over the beneficiary’s life or life expectancy (in the IRA context, this is sometimes referred to as a “stretch IRA”).
However, for deaths of plan participants or IRA owners beginning in 2020 (later for some participants in collectively bargained plans and governmental plans), distributions to most non-spouse beneficiaries are generally required to be distributed within ten years following the plan participant’s or IRA owner’s death (10-year rule). So, for those beneficiaries, the “stretching” strategy is no longer allowed.
Issue 8: Highlight of the Taxpayer Advocates Report to Congress
Over the next few newsletters we will highlight specific issues pointed out by the National Taxpayer Advocate
According to its mission statement, the IRS aims to “provide America’s taxpayers top quality service by helping them understand and meet their tax responsibilities and enforce the law with integrity and fairness to all.” The report says the IRS is struggling to meet both of those goals.
More on this SIGNIFICANT report in March
Issue 9: Guidance for the Qualified Business Income Deduction on a Substitute for Return (SFR) – SBSE-04-1219-0054 – IRS’s Small Business/Self-Employed (SB/SE) Division has said that it will not allow a qualified business income (QBI) deduction on IRS-prepared substitute returns.
This memorandum provides guidance for the qualified business income (QBI) deduction on a substitute for return (SFR) prepared under IRC section 6020(b). See IRM 4.12.1.8.2.1, IRC 6020(b). Please distribute this information throughout your organization.
Depending on the taxpayer’s taxable income, the QBI deduction is subject to multiple limitations including the type of trade or business, the amount of W-2 wages paid by the trade or business, and the unadjusted basis immediately after acquisition (UBIA) of qualified property held by the trade or business. Additionally, a qualified business loss or qualified publicly traded partnership loss carried forward from prior years must be considered. Therefore, while a taxpayer may be entitled to claim a QBI deduction on a filed return, the Service will not allow the QBI deduction on an SFR prepared under IRC section 6020(b).
If a taxpayer subsequently files a delinquent tax return that includes a QBI deduction, the Service will consider the deduction following the same policies for other items included on the filed return.
This guidance is effective immediately and will be incorporated into IRM 4.12.1, Non-filed Returns, and IRM 4.19.17, Campus Examination Non-Filer Program, within two years of issuance. –
A qualified business income (QBI) deduction will not be allowed on a substitute for return (SFR) prepared under
6020(b).
If a taxpayer subsequently files a signed delinquent tax return reporting a QBI deduction, the deduction will be considered following the guidance in IRM 4.12.1.9, Examination of a Secured Delinquent Return.
Issue 10: Guidance to Charities that Receive Donations of Virtual Currency
A33. If you donate virtual currency to a charitable organization described in Internal Revenue Code § 170(c), you will not recognize income, gain, or loss from the donation.
A34. Your charitable contribution deduction is generally equal to the fair market value of the virtual currency at the time of the donation if you have held the virtual currency for more than one year. If you have held the virtual currency for one year or less at the time of the donation, your deduction is the lesser of your basis in the virtual currency or the virtual currency’s fair market value at the time of the contribution.
A35. A charitable organization can assist a donor by providing the contemporaneous written acknowledgment that the donor must obtain if claiming a deduction of $250 or more for the virtual currency donation.
Charities must file Form 8282, Donee Information Return, if they sell, exchange or otherwise dispose of charitable deduction property (or any portion thereof) – such as the sale of virtual currency for real currency as described in FAQ #4 – within three years after the date they originally received the property and give the original donor a copy of the form. See the instructions on Form 8282 for more information. (12/2019)
Issue 11: IRS P.O. Box Closings
The IRS is closing several business payment P.O. Boxes (or Lockbox addresses) in the Cincinnati and Hartford areas beginning July 1, 2020. Payments mailed to these closed payment locations will be returned to the sender. No forwarding service will be available.
To help ensure timely receipt, check Where to File on irs.gov before mailing the client’s payment. If you receive an IRS payment letter, please send the payment to the address found in the letter.
IRS encourages taxpayers to use IRS Direct Pay. It’s fast, secure and easy to use to pay a tax bill or estimated tax payment directly from a checking or savings account. Users receive instant confirmation that their payment has been made.
Issue 12: IRS Provides Relief to Financial institutions Affected by Tax Change Raising the Age for Required Minimum Distributions
The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) changed the age for which an RMD is first required from age 70½ to 72. Under prior law, financial institutions would have needed to notify IRA owners who attained age 70½ in 2020 about their 2020 RMDs by Jan. 31, 2020.
Issue 12: IRS and Treasury Issued Guidance for Students with Discharged Student Loans and Their Creditors – Criteria Must be Met
The IRS and Treasury issued Revenue Procedure 2020-11 that establishes a safe harbor extending relief to additional taxpayers who took out federal or private student loans to finance attendance at a nonprofit or for-profit school.
Issue 13: Additional Resources for Marketplace Facilitators, Marketplace Sellers and Remote Sellers in Illinois
Public Acts (P.A.) 101-0009 and 101-0604 expand nexus in Illinois to include marketplace facilitators that meet certain thresholds effective January 1, 2020. As a result, marketplace facilitators that meet either threshold, as detailed below, are required to register to collect and remit Illinois Use Tax for sales made through their marketplace. Marketplace sellers selling through the marketplace are not responsible for collecting and remitting Illinois Use Tax on these sales.
Marketplace means a physical or electronic place, forum, platform, application, or other method by which a marketplace seller sells or offers to sell tangible personal property. Examples of marketplaces include, but are not limited to, auctions, internet marketplace platforms on which tangible personal property is offered for sale; antique malls, home shopping networks selling tangible personal property over television, cable or satellite networks; or consignment shops selling tangible personal property on behalf of numerous persons.
Marketplace facilitator means a person who, pursuant to an agreement with an unrelated third-party marketplace seller, directly or indirectly through one or more affiliates, facilitates a sale by an unrelated third-party marketplace seller by doing both of the following:
Either directly or indirectly, through agreements or arrangements with third parties, collecting payment from the customer and transmitting that payment to the marketplace seller regardless of whether the marketplace facilitator receives compensation or other consideration in exchange for its services.
Marketplace seller means a person that sells or offers to sell tangible personal property through a marketplace operated by an unrelated third-party marketplace facilitator. A marketplace seller only includes persons who incur an Illinois Use Tax liability on their sales to Illinois purchasers. Persons making sales to Illinois purchasers that are subject to Illinois Retailers’ Occupation Tax (sales tax) are not considered to be “marketplace sellers” and are not subject to the provisions of 86 Ill. Adm. Code 150.804.
Affiliate is a person that, with respect to another person:
has a direct or indirect ownership of more than 5 percent in the other person; or
is related to the other person because a third person, or a group of third persons who are affiliated with each other, holds a direct or indirect ownership interest of more than 5 percent in the related person.
Effective January 1, 2020, a marketplace facilitator that meets either of the thresholds outlined below is considered a retailer maintaining a place of business in Illinois for each sale of tangible personal property made through its marketplace resulting in Illinois Use Tax. A marketplace facilitator must register to collect and remit Illinois Use Tax to the Illinois Department of Revenue (IDOR). A marketplace seller or remote seller that uses a marketplace facilitator will not include sales resulting in Illinois Use Tax made through the marketplace in its threshold determination.
These new requirements apply when Illinois Use Tax is the only tax required to be remitted to IDOR by marketplace facilitators for sales made through the marketplace.
Note about sales made through the marketplace resulting in Illinois Retailers’ Occupation Tax (sales tax) liability: Sales to Illinois purchasers made through the marketplace resulting in Illinois Retailers’ Occupation Tax (sales tax) liability are the responsibility of the marketplace seller. In this case, the marketplace seller is considered the retailer for sales resulting in Retailers’ Occupation Tax (sales tax) liability and the marketplace seller must register to remit Illinois Retailers’ Occupation Tax (sales tax) to IDOR.
A marketplace facilitator who meets either of the following thresholds is considered the retailer for each sale of tangible personal property made through its marketplace on behalf of marketplace sellers:
The cumulative gross receipts from retail sales of tangible personal property to purchasers in Illinois made through the marketplace by both the marketplace facilitator and marketplace sellers are $100,000 or more; or
The marketplace facilitator and marketplace sellers selling through the marketplace cumulatively enter into 200 or more separate transactions through the marketplace for the sale of tangible personal property to purchasers in Illinois.
The thresholds are determined by examining the gross receipts and number of separate transactions (see 86 Ill. Adm. Code 150.804(f) for more information) and must include or exclude the following types of sales:
Sales for resale must be excluded (for additional information see 86 Ill. Adm. Code 130. 201),
Sales of tangible personal property that are required to be registered with an Illinois agency, including motor vehicles, watercraft, aircraft, and trailers, when these sales are made from locations outside Illinois to Illinois purchasers must be excluded, and
Sales made through the marketplace on behalf of a marketplace seller or by a marketplace facilitator that are subject to Retailers’ Occupation Tax (sales tax) must be excluded. For example, sales made through a marketplace on behalf of a marketplace seller that are filled from inventory located in an Illinois warehouse. Marketplace sellers making such sales through the marketplace are required to register with IDOR and remit Illinois Retailers’ Occupation Tax (sales tax) on such sales. A marketplace facilitator making its own retail sales of tangible personal property through the marketplace that are subject to Illinois Retailers’ Occupation Tax (sales tax) must be registered for Retailers’ Occupation Tax (sales tax) and remit Retailers’ Occupation Tax (sales tax) on such sales.
All sales of tangible personal property, except those listed above, even if they are exempt from tax, must be included for purposes of calculating the thresholds.
How to determine if you meet a threshold
A marketplace facilitator must examine its selling activities in Illinois for the period of January 1, 2019, through December 31, 2019. If, during this period, the marketplace facilitator meets either of the thresholds, the marketplace facilitator must register with IDOR to collect and remit Illinois Use Tax beginning January 1, 2020, for one year.
If the marketplace facilitator does not meet either threshold effective January 1, 2020, the marketplace facilitator must determine on a quarterly basis (ending on the last day of March, June, September, and December) whether it meets either of the thresholds for the preceding 12-month period. If the marketplace facilitator meets either of the thresholds for the preceding 12-month period, the marketplace facilitator must register with IDOR and begin collecting and remitting Illinois Use Tax for all sales made through its marketplace beginning on the first day of the following quarter.
If at the end of the one-year period, a marketplace facilitator determines it met either of the thresholds during the preceding 12-month period, it is considered a retailer maintaining a place of business in Illinois and is required to continue to collect and remit Illinois Use Tax and file returns for the subsequent year for all sales subject to Illinois Use Tax made over its marketplace.
If at the end of the one-year period, a marketplace facilitator who was required to collect and remit Illinois Use Tax, determines it did not meet either of the thresholds during the preceding 12-month period, then going forward, the marketplace facilitator shall determine on a quarterly basis (ending on the last day of March, June, September, and December) whether it meets either of the thresholds for the preceding 12-month period. If you determine that you are no longer required to collect and remit Illinois Use Tax, you must contact IDOR to update your registration. If your registration is not updated with IDOR you will be considered to be actively registered with IDOR and required to file a return. We encourage you to continue to collect and remit Illinois Use Tax as a courtesy to your Illinois purchasers.
Requirements for marketplace facilitators
A marketplace facilitator shall
Enter into an agreement with each of its marketplace sellers to facilitate sales of tangible personal property by that marketplace seller. The agreement shall contain a certification by the marketplace facilitator that, the marketplace facilitator assumes the rights and duties of a retailer under the Illinois Use Tax Act with respect to collection and remittance of Illinois Use Tax on sales made by the marketplace seller through the marketplace.
Collect and remit Illinois Use Tax for sales made through its marketplace based on information provided by marketplace sellers. When Retailers’ Occupation Tax (sales tax) is incurred on a sale made through the marketplace on behalf of a marketplace seller, a marketplace facilitator may collect Illinois Use Tax from the purchaser, along with any local tax (sales tax) reimbursements, and transmit it to the marketplace seller for remittance to IDOR as Retailers’ Occupation Tax (sales tax).
Register with IDOR for sales made through the marketplace by marketplace sellers and file returns in accordance with procedures required by the Illinois Use Tax Act. We encourage a marketplace facilitator to report its own sales separately from the sales made through the marketplace on behalf of marketplace sellers.
See 86 Ill. Adm. Code 150.804(h) for additional requirements.
Marketplace Sellers/Remote Sellers
Under Wayfair (economic) nexus, a remote seller making sales to Illinois purchasers from locations outside Illinois is required to register with IDOR to collect and remit Illinois Use Tax on those sales if it falls within the definition of a “retailer maintaining a place of business in this State” in 35 ILCS 105/2 . There are two groups of remote sellers that must collect tax on sales to Illinois purchasers:
Remote sellers with a physical presence in Illinois. Remote sellers that have a physical presence in Illinois are required to register with IDOR to collect and remit Illinois Use Tax on sales to Illinois purchasers.
Remote sellers without a physical presence in Illinois (See 86 Ill. Adm. Code 150.80, Wayfair (economic) nexus, for more information). On and after October 1, 2018, remote sellers without a physical presence in Illinois are required to register to collect and remit Illinois Use Tax for sales of tangible personal property to Illinois purchaser if they meet either of the following thresholds:
Cumulative gross receipts of $100,000 or more from sales to Illinois purchasers,or
200 or more separate transactions with Illinois purchasers.
Note: Marketplace sellers and remote sellers may already be collecting and remitting Illinois Use Tax under Wayfair (economic) nexus. Your collection obligations may change effective January 1, 2020.
Change effective January 1, 2020
With the new marketplace law under P.A. 101-0009 and P.A. 101-0604, a marketplace facilitator is required to collect and remit Illinois Use Tax on all sales subject to Illinois Use Tax made by all marketplace sellers through its marketplace. A marketplace seller will no longer be required to report these sales. However, if you also make sales outside the marketplace or if the marketplace facilitator is not required to collect Illinois Use Tax because it does not meet either of the marketplace thresholds, you are required to collect and remit Illinois Use Tax on those sales if you are a “retailer maintaining a place of business” in Illinois (i.e., you have nexus, including, but not limited to, Wayfair [economic] nexus). When determining if a marketplace seller or remote seller meets a Wayfair (economic) nexus threshold, it should not include the gross receipts nor the number of separate transactions for sales to Illinois purchasers made through a registered marketplace.
Requirements for marketplace sellers
A marketplace seller shall
Furnish to the marketplace facilitator information that is necessary for the marketplace facilitator to correctly collect and remit Illinois Use Tax on each sale. The information may include a certification that an item being sold is taxable, not taxable, exempt from taxation, or taxable at a specified rate.
Determine if it is required to separately register and collect and remit Illinois Use Tax on sales to Illinois purchasers in addition to those made through a marketplace. If the marketplace seller is a “retailer maintaining a place of business in this State” under Section 2 of the Illinois Use Tax Act, it is required to separately register and remit Illinois Use Tax on such sales to Illinois purchasers. In determining if a marketplace seller has Wayfair (economic) nexus (see 86 Ill. Adm. Code 150.803), neither the gross receipts from nor the number of separate transactions for sales of tangible personal property to purchasers in Illinois that a marketplace seller makes through a registered marketplace facilitator and for which it has received a certification from the marketplace facilitator shall be included for purposes of determining whether it meets the Wayfair (economic) nexus thresholds.
separately register and remit tax on all sales of tangible personal property, including those made over a registered marketplace, that result in Retailers’ Occupation Tax (sales tax). For sales made through the marketplace that result in Illinois Retailers’ Occupation Tax (sales tax), the marketplace seller is considered the retailer and must report and remit tax on such sales as provided in the Retailers’ Occupation Tax Act, as well as applicable local occupation taxes. The marketplace facilitator is not considered the retailer with respect to such sales and is not required to remit tax to IDOR on such sales. However, the marketplace facilitator may collect these taxes from the purchaser and transmit them to the marketplace seller for reporting and remittance to IDOR as Retailers’ Occupation Tax (sales tax).
See 86 Ill. Adm. Code 150.804(i) for additional requirements.
A marketplace seller shall be held harmless for liability for the collection and remittance of Illinois Use Tax when a marketplace facilitator fails to correctly collect and remit tax after having been provided with information by a marketplace seller to correctly collect and remit tax.
If a marketplace facilitator demonstrates to the satisfaction of IDOR that its failure to correctly collect and remit Illinois Use Tax on a sale resulted from its good faith reliance on incorrect or insufficient information provided by a marketplace seller, it shall be relieved of liability for the tax on that sale. In this case, a marketplace seller is liable for any resulting Illinois Use Tax due.
Issue 14: Annual Enrollment Renewal Application Period for EA’s
The 2020 Enrollment Renewal Application Period is open from November 1, 2019 through January 31, 2020. Per U.S. Treasury Department Circular No. 230 (Rev. 6-2014) (PDF), you are required to renew your EA status during this time frame if your SSN ends in 4, 5, or 6. Without renewal your current enrollment will expire on March 31, 2020. You may submit your enrollment renewal application and payment online using Pay.gov.
Issue 15: Timely Mailing as Timely Filing or Payment—The Postmark Date Rule
(A)the postmark date falls within the prescribed period or on or before the prescribed date—
(b)Postmarks
(1)the filing of a document in, or the making of a payment to, any court other than the Tax Court,
(f)Treatment of private delivery services
Issue 16: Rev. Rul. 2020-3 – Applicable Federal Rates for February 2020
REV. RUL. 2020-3 TABLE 1
REV. RUL. 2020-3 TABLE 2
Adjusted AFR for February 2020
REV. RUL. 2020-3 TABLE 5
Rate Under Section 7520 for February 2020
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