Bulletin No. 2006-14 April 3, 2006

T.D. 9253, page 689. The Treasury Department and the IRS issued comprehensive withholding and reporting regulations (T.D. 8734 and T.D. 8881) that became effective on January 1, 2001. In Notice 2001–4, 2001–1 C.B. 267; Notice 2001–11, 2001–1 C.B. 464; and Notice 2001–43, 2001–2 C.B. 72; the Treasury Department and the IRS announced the intention to amend the final regulations. These final regulations implement certain changes announced in those notices and other changes. In addition, these final regulations provide guidance under section 411 of the American Jobs Act of 2004. Notice 2001–11 and certain sections of Notices 2001–4 and 2001–43 superseded.

Notice 2006–34, page 705. The Treasury Department and the Service request information that will be considered in formulating guidance on the income tax treatment of cross licensing arrangements.

Notice 2006–35, page 708. This notice modifies Announcement 2000–48, 2000–1 C.B. 1243, and Notice 2001–43, 2001–2 C.B. 72, by providing that, generally, a branch of a financial institution may not act as a qualified intermediary (QI) after December 31, 2006, in a country that does not have approved know-your-customer (KYC) rules. Announcement 2000–48 and Notice 2001–43 modified.

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