Today from Our Government (TFOG):
IRS:
New IRS Temporary Rule eff 11/1/11 - Extending Religious and Family Member FICA and FUTA Exceptions to Disregarded Entities
These regulations extend the exceptions from taxes under the Federal Insurance Contributions Act (‘‘FICA’’) and the Federal Unemployment Tax Act (‘‘FUTA’’) under sections 3121(b)(3) (concerning individuals who work for certain family members), 3127 (concerning members of religious faiths), and 3306(c)(5) (concerning persons employed by children and spouses and children under 21 employed by their parents) of the Internal Revenue Code (‘‘Code’’) to entities that are disregarded as separate from their owners for federal tax purposes. The temporary regulations also clarify the existing rule that the owners of disregarded entities, except for qualified subchapter S subsidiaries, are responsible for backup withholding and related information reporting requirements under section 3406.
Notice of IRS Proposed Rule Making - Extending Religious and Family Member FICA and FUTA Exceptions To Disregard Entities - open for Comments through 1/30/12:
the IRS is issuing temporary regulations to extend the exceptions from taxes under the Federal Insurance Contributions Act (‘‘FICA’’) and theFederal Unemployment Tax Act(‘‘FUTA’’) under sections 3121(b)(3),3127, and 3306(c)(5) to entities that a redisregarded as separate from their owners for federal tax purposes. The temporary regulations also clarify the existing rule that the owners of disregarded entities, except for qualified subchapter S subsidiaries, are responsible for backup withholding and related information reporting requirements under section 3406. The text of those regulations also serves as the text of these proposed regulations.
FRS / FDIC Final Rule eff 11/30/11 re: Banks Holding Cos with Assets > $50 Billion Reporting of Rapid Orderly Resolution Plans in Event of Material Financial Distress or Failure:
Final rule to implement the requirement in a section of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the ‘‘Dodd-Frank Act’’) regarding resolution plans. The Dodd-Frank Act section require seach nonbank financial company designated by the Financial Stability Oversight Council (the ‘‘Council’’) for enhanced supervision by the Board and each bank holding company with assets of $50 billion or more to report periodically to the Board, the Corporation, and the Council the plan of such company for rapid and orderly resolution in the event of material financial distress or failure.
SEC Notice - Curatech Industries, Inc., Order of Suspension of Trading
Medicare 2012
Notice: Medicare Program; Inpatient Hospital Deductible and Hospital and Extended Care Services Coinsurance Amounts for CY 2012
Notice: Medicare Program; Part A Premiums for CY 2012 for the Uninsured Aged and for Certain Disabled Individuals Who Have Exhausted OtherEntitlement
Notice: Medicare Program; Medicare Part B Monthly Actuarial Rates, Premium Rate, and Annual Deductible Beginning January 1, 2012
DOT/FTA:
Federal Transit Administration / DOT: Notice Capital Project Management
FTA is extending the comment period on its proposed rule for Capital Project Management to December 2, 2011, to allow interested parties time to carefully review the Notice of Proposed Rulemaking (NPRM)issued September 13, 2011. Also, FTA will hold a webinar on November 10,2011, to enable the public to ask questions and to clarify any misunderstandings regarding the NPRM or the Federal Transit Administrator’s Dear Colleague, letter of September 30,2011.
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IRS Rule Extending Religious and Family Members FICA and Futa to Disregarded Entities
IRS Prop Rule Extending Religious and Family Member FICA and FUTA Exemptions
FDIC Rules Res Plan Bank Holding Cos > $50 bn
11-1-11 SEC Trade Suspension Order
2012- Inpatient Hospital Deductible
2012 Medicare Part a Premiums for Uninsured, Aged and Disabled Who Have Exhausted Other Entitlements
2012 Part B Medicare
FTA Rule Capital Proj Management
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