Bulletin No. 2018–20 May 14, 2018

taxable year, but are unable to offer employees a qualified health plan (QHP) through a Small Business Health Options Program (SHOP) Exchange for all or part of the remainder of the credit period because the employer’s principal business address is in a county in which a QHP through a SHOP Exchange is not available. With respect to those employers, this notice provides transition relief allowing employers to calculate the credit for such subsequent portion of the credit period by treating health insurance coverage as qualifying for the credit if that coverage would have qualified for the credit under the section 45R rules applicable before January 1, 2014.

Notice 2018–36, page 582. The inflation adjustment factor is used to determine the amount of the Indian Coal production tax credit. The inflation adjustment factor applies to calendar year 2017 sales of Indian coal produced in the United States or a possession thereof.

Notice 2018–40, page 583. This notice publishes the inflation adjustment factor for the carbon oxide sequestration credit under § 45Q for calendar year 2018.

Notice 2018–41, page 584. This notice announces that the Department of the Treasury and the Internal Revenue Service intend to issue proposed regulations providing guidance to assist taxpayers in complying with information reporting obligations for reportable policy sales of life insurance contracts under § 6050Y, which was added by section 13520 of “[a]n Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018,” P.L. 115–97 (the “Act”). The proposed regulations also will provide guidance on an exception to the transfer for valuable consideration rules for life insurance contracts added to § 101(a) by section 13522 of the Act. This notice describes the anticipated guidance and requests public comments on the implementation of these provisions of the Act.

Rev. Proc. 2018–27, page 591. The revenue procedure provides relief for taxpayers with family coverage under high deductible health plans with respect to health savings accounts under Code section 223 for the 2018 taxable year. It allows taxpayers to continue to treat the the 2018 limit as $6,900. It also provides clarification for taxpayers who have already received a distribution from a health savings account of an excess contribution based on the the $6,850 deduction limit previously published in Rev. Proc. 2018–18.

Rev. Rul. 2018–12, page 575. Federal rates; adjusted federal rates; adjusted federal longterm rate and the long-term exempt rate. For purposes of sections 382, 1274, 1288, and other sections of the Code, tables set forth the rates for May 2018.

Rev. Rul. 2018–13, page 576. This revenue ruling supplements the schedules of prevailing state assumed interest rates set forth in Rev. Rul. 92–19, 1992–1 C.B. 227, for purposes of § 807 of the Internal Revenue Code, for certain insurance products issued in 2017. These rates apply to taxable years beginning after December 31, 2016, and on or before December 31, 2017. This revenue ruling also describes the amendments to § 807 by section 13517 of “[a]n Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018,” P.L. 115–97.