INCOME TAX

Rev. Proc. 2014–64, page 1022. Revenue Procedure 2014–64 provides an updated list of jurisdictions with which the United States has in effect an income tax or other convention or bilateral agreement relating to the exchange of information for purposes of the bank deposit interest reporting requirements under §§ 1.6049–4(b)(5) and 1.6049–8(a), as well as jurisdictions with which the IRS and Treasury have determined the automatic exchange of such information is appropriate.

Notice 2014–81, page 1001. Reallocation of Section 48B Credits under the Qualifying Gasification Project Program. This notice establishes section 48B Phase III of the qualifying gasification project program to reallocate the section 48B Phase I credits that are available for allocation after the conclusion of the section 48B Phase I program.

T.D. 9706, page 980. Section 6038D of the Internal Revenue Code, added by the Hiring Incentives to Restore Employment (HIRE) Act, Public Law 111–147 (124 Stat. 71), requires foreign financial assets to be reported to the Internal Revenue Service for taxable years beginning after March 18, 2010. These regulations provide guidance relating to the requirement that individuals attach a statement to their income tax return to provide required information regarding foreign financial assets in which they have an interest.

Finding Lists begin on page ii.