Tax News

CCH (cch.taxgroup.com) reports:

The IRS and Treasury Department have issued temporary and proposed regulations adding an additional item of tax return information, concerning total qualified research expenses, which the Treasury Secretary may disclose to the Bureau of the Census (Bureau) for use in the latter's annual Survey of Industrial Research and Development. The regulation permits disclosure of such data from the taxpayers' Forms 6765, Credit for Increasing Research Activities.
The amendment to the regulation is effective on December 31, 2007 and is applicable to disclosures to the Bureau on or after that date. The applicability of the amendment expires on or before December 28, 2010.
The text of the temporary regulation also serves as the text of the proposed regulation. Written or electronic comments regarding the proposed regulation have been requested, and must be received by March 31, 2008.
T.D. 9373, 2008FED ¶47,010
T.D. 9373, FINH ¶43,115
Proposed Regulations, NPRM REG-147832-07, 2008FED ¶49,783
Proposed Regulations, NPRM REG-147832-07, FINH ¶41,130
Other References:
Code Sec. 6103
CCH Reference - 2007FED ¶36,886B
CCH Reference - 2007FED ¶36,886C
CCH Reference - FINH ¶20,435.30
Tax Research Consultant
CCH Reference - TRC IRS: 9,254