Bulletin No. 2012-11 March 12, 2012

Notice 2012–23, page 483. This notice answers several questions about the federal income tax consequences related to the receipt of a section 1603 payment, a cash reimbursement from the Department of Treasury for a portion of the cost of certain qualifying renewable energy projects. The section 1603 program was created by the American Recovery and Reinvestment Tax Act of 2009 and was extended for one year by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.

Rev. Proc. 2012–21, page 484. This procedure provides guidance to individuals who fail to meet the eligibility requirements of section 911 of the Code because adverse conditions in a foreign country preclude the individual from meeting those requirements. A current list of countries for tax year 2011 and the dates those countries are subject to the section 911(d)(4) waiver is provided.