Income Tax

NOTICE 2018–88, page 817. This notice is intended to initiate and inform the process of developing guidance under sections 4980H and 105(h) that would address issues raised in the NPRM (REG-135724–17) that was issued on October 29, 2018 (83 FR 54420), and requests comments on potential approaches developed by the Treasury Department and the IRS, so employers understand how to structure HRAs integrated with individual health insurance coverage to avoid assessable payments (section 4980H) and potential loss of the exclusion from income for employerprovided health benefits (section 105(h)).

NOTICE 2018–89, page 826. This notice provides that the IRS will not assert that cash payments an employer makes to § 170(c) organizations (in exchange for vacation, sick or personal leave that its employees elect to forgo) constitute gross income or wages of the employees under certain circumstances.

NOTICE 2018–90, page 826. The notice provides that transition relief in Rev. Rul. 2018-17 (Withholding and Reporting With Respect to Payments from IRAs to State Unclaimed Property Funds) is extended so that a person will not be treated as failing to comply with the withholding and reporting requirements described in Rev. Rul. 2018–17 with respect to payments made before the earlier of January 1, 2020, or the date it becomes reasonably practicable for the person to comply with those requirements.

REV. PROC. 2018–57, page 827. This procedure provides the 2019 cost-of-living adjustments to certain items due to inflation as required by various provisions of the Code and Service guidance.

REV. RUL. 2018–30, page 815. Federal rates; adjusted federal rates; adjusted federal longterm rate, the long-term exempt rate, and the blended annual rate. For purposes of sections 382, 1274, 1288, 7872 and other sections of the Code, tables set forth the rates for December 2018.