SECTION 4. PROCEDURE

An RI Owner within the scope of this revenue procedure may claim an otherwise allowable credit under § 29 with respect to a sale of qualified fuel in the taxable year (including a 2003 taxable year) in which

cations in the agreement is not substantial and that the allocations are not in accordance with the partners’ interests in the partnership.

Transactions that are the same as, or substantially similar to, the transactions described in this notice are identified as “listed transactions” for purposes of §§ 1.6011–4(b)(2), 301.6111–2(b)(2) and 301.6112–1(b)(2) effective April 1, 2004, the date this notice was released to the public.

Independent of their classification as “listed transactions,” transactions that are the same as, or substantially similar to, the transactions described in this notice may already be subject to the disclosure requirements of § 6011 (§ 1.6011–4), the tax shelter registration requirements of § 6111 (§§ 301.6111–1T, 301.6111–2), or the list maintenance requirements of § 6112 (§ 301.6112–1). Persons who are required to register these tax shelters under § 6111 but have failed to do so may be subject to the penalty under § 6707(a). Persons who are required to maintain lists of investors under § 6112 but have failed to do so (or who fail to provide those lists when requested by the Service) may be subject to the penalty under § 6708(a). In addition, the Service may impose penalties on parties involved in these transactions or substantially similar transactions, including the accuracy-related penalty under § 6662.

The principal authors of this notice are David J. Sotos of the Office of Associate Chief Counsel (International) and Sean Kahng of the Office of Associate Chief Counsel (Passthroughs and Special Industries). For further information regarding this notice, contact Mr. Sotos at (202) 622–3860 or Mr. Kahng at (202) 622–3050 (not a toll-free call).

26 CFR 601.105: Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability. (Also, Part I, § 29.)

Rev. Proc. 2004–27