October 2002 Plain Language Regulations

Suspension of Losses on Certain Stock Dispositions
Temporary, final and proposed regulations under section 1502 of the Code redetermine the basis of stock of a subsidiary member of a consolidated group immediately prior to certain transfers of such stock and certain deconsolidations of a subsidiary member.  In addition, the temporary regulations suspend certain losses recognized on the disposition of stock of a subsidiary member.  REG-131478-02.
Published October 23, 2002.  Republished March 14, 2003.
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Unit-Livestock Price Method
The unit-livestock-price method is a method of accounting for the costs of raising livestock These regulations modify the existing regulations by requiring taxpayers using the unit-livestock-price method to annually decrease unit costs without securing the consent of the Commissioner in response to changes in the costs of raising livestock used for draft, breeding, or dairy purposes. TD 9019. Published October 28, 2002.
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Requirement to Maintain List of Investors
Requirement to Maintain a List of Investors in Potentially Abusive Tax Shelters; These temporary regulations modify the rules relating to the list maintenance requirements for sellers and organizers of potentially abusive tax shelters under section 6112. These regulations describe who is a seller or organizer of a tax shelter and what types of transactions constitute tax shelters. REG-103736-00. Published October 22, 2002.
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Tax Shelter Disclosure Statements
These temporary regulations modify the rules relating to the filing by certain taxpayers of a disclosure statement with their Federal income tax returns under section 6011(a). These regulations affect all taxpayers that participate, directly or indirectly, in any of the six reportable transactions described in the regulations. Additionally, these temporary regulations provide that “listed transactions” that involve Federal estate, gift, employment, or pension or exempt organizations excise tax must be disclosed in accordance with the published guidance that identifies them as listed transactions. Conforming changes have been made to the regulations under section 6111(d). REG-103735-00. Published October 22, 2002.
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Requirement to Maintain List of Investors
Requirement to Maintain a List of Investors in Potentially Abusive Tax Shelters; These temporary regulations modify the rules relating to the list maintenance requirements for sellers and organizers of potentially abusive tax shelters under section 6112. These regulations describe who is a seller or organizer of a tax shelter and what types of transactions constitute tax shelters. TD 9018. Published October 22, 2002.
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Tax Shelter Disclosure Statements
These temporary regulations modify the rules relating to the filing by certain taxpayers of a disclosure statement with their Federal income tax returns under section 6011(a). These regulations affect all taxpayers that participate, directly or indirectly, in any of the six reportable transactions described in the regulations. Additionally, these temporary regulations provide that “listed transactions” that involve Federal estate, gift, employment, or pension or exempt organizations excise tax must be disclosed in accordance with the published guidance that identifies them as listed transactions. Conforming changes have been made to the regulations under section 6111(d). TD 9017. Published October 22, 2002.
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Redemptions Taxable as Dividends
These proposed regulations provide guidance regarding the treatment of the basis of redeemed stock when a distribution in redemption of such stock is treated as a dividend, as well as guidance regarding certain acquisitions of stock by related corporations that are treated as distributions in redemption of stock. The proposed regulations affect shareholders whose stock in a corporation is redeemed or is acquired by a corporation related to the issuer of the stock, and are necessary to provide such shareholders with guidance regarding the treatment of the basis of such stock. REG-150313-01. Published October 18, 2002.
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Disclosure Values of Optional Forms of Benefits
These proposed regulations would consolidate the content requirements applicable to explanations of qualified joint and survivor annuities and qualified preretirement survivor annuities payable under certain retirement plans. In addition, these proposed regulations would specify requirements for disclosing the relative value of optional forms of benefit that are payable from certain retirement plans in lieu of a qualified joint and survivor annuity. REG-124667-02. Published October 7, 2002.
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