[Federal Register Volume 79, Number 144 (Monday, July 28, 2014)]
[Proposed Rules]
[Pages 43693-43694]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-17696]
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Proposed Rules
Federal Register
________________________________________________________________________
This section of the FEDERAL REGISTER contains notices to the public of
the proposed issuance of rules and regulations. The purpose of these
notices is to give interested persons an opportunity to participate in
the rule making prior to the adoption of the final rules.
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Federal Register / Vol. 79, No. 144 / Monday, July 28, 2014 /
Proposed Rules
[[Page 43693]]
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG-104579-13]
RIN 1545-BM09
Rules Regarding the Health Insurance Premium Tax Credit
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice of proposed rulemaking by cross-reference to temporary
regulations.
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SUMMARY: In the Rules and Regulations section of this issue of the
Federal Register, the IRS is issuing final and temporary regulations
under section 36B of the Internal Revenue Code (Code) relating to the
health insurance premium tax credit. The regulations provide guidance
to individuals who enroll in qualified health plans through Affordable
Insurance Exchanges (Exchanges) and claim the premium tax credit, and
Exchanges that make qualified health plans available to individuals and
employers. The text of those temporary regulations also serves as the
text of these proposed regulations.
DATES: Comments and requests for a public hearing must be received by
October 27, 2014.
ADDRESSES: Send submissions to: CC:PA:LPD:PR (REG-104579-13), Internal
Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044.
Taxpayers also may submit comments electronically via the Federal
eRulemaking Portal at www.regulations.gov (IRS REG-104579-13).
FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulations,
Arvind Ravichandran, (202) 317-4718; concerning submission of comments
or to request a hearing, Oluwafunmilayo Taylor, (202) 317-6901 (not
toll-free numbers).
SUPPLEMENTARY INFORMATION:
Background and Explanation of Provisions
Final and temporary regulations in the Rules and Regulations
section of this issue of the Federal Register amend the Income Tax
Regulations (26 CFR Part 1) relating to section 36B and section 162(l)
of the Code. The final and temporary regulations provide guidance for
individuals who enroll in qualified health plans through Affordable
Insurance Exchanges (Exchanges) and claim the premium tax credit, and
Exchanges that make qualified health plans available to individuals and
employers. The text of those temporary regulations also serves as the
text of these proposed regulations. The preamble to the final and
temporary regulations explains the amendments.
Proposed Effective Date
These regulations are proposed to apply for taxable years ending
after December 31, 2013. See Sec. 1.36B-1(o). Taxpayers must apply the
final and temporary regulations until publication of final regulations.
Special Analyses
It has been determined that this notice of proposed rulemaking is
not a significant regulatory action as defined in Executive Order
12866. Therefore, a regulatory assessment is not required. It also has
been determined that section 553(b) of the Administrative Procedure Act
(5 U.S.C. chapter 5) does not apply to these regulations, and because
the regulations do not impose a collection of information on small
entities, the Regulatory Flexibility Act (5 U.S.C. chapter 6) does not
apply. Pursuant to section 7805(f) of the Code, this regulation has
been submitted to the Chief Counsel for Advocacy of the Small Business
Administration for comment on its impact on small business.
Comments and Requests for a Public Hearing
Before these proposed regulations are adopted as final regulations,
consideration will be given to any comments that are submitted timely
to the IRS as prescribed in this preamble under ADDRESSES heading. The
IRS and the Treasury Department request comments on all aspects of the
proposed rules. All comments will be available at www.regulations.gov
or upon request. A public hearing will be scheduled if requested in
writing by any person that timely submits written comments. If a public
hearing is scheduled, notice of the date, time, and place for the
public hearing will be published in the Federal Register.
Drafting Information
The principal authors of these regulations are Arvind Ravichandran,
Shareen Pflanz and Steve Toomey of the Office of Associate Chief
Counsel (Income Tax & Accounting). However, other personnel from the
IRS and the Treasury Department participated in their development.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
Proposed Amendments to the Regulations
Accordingly, 26 CFR part 1 is proposed to be amended as follows:
PART 1--INCOME TAXES
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Paragraph 1. The authority citation for part 1 continues to read in
part as follows:
Authority: 26 U.S.C. 7805 * * *
0
Par. 2. Section 1.36B-2 is amended by revising paragraphs (b)(2) and
(c)(3)(v)(C), and adding paragraph (d) to read as follows:
Sec. 1.36B-2 Eligibility for premium tax credit.
* * * * *
(b) * * *
(2) [The text of the proposed amendment to Sec. 1.36B-2(b)(2) is
the same as the text of Sec. 1.36B-2T(b)(2) published elsewhere in
this issue of the Federal Register].
* * * * *
(c) * * *
(3) * * *
(v) * * *
(C) [The text of the proposed amendment to Sec. 1.36B-
2(c)(3)(v)(C) is the same as the text of Sec. 1.36B-2T(c)(3)(v)(C)
published elsewhere in this issue of the Federal Register].
* * * * *
(d) [The text of the proposed amendment to Sec. 1.36B-2(d) is the
same as the text of Sec. 1.36B-2T(d) published elsewhere in this issue
of the Federal Register].
[[Page 43694]]
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Par. 3. Section 1.36B-3 is amended by revising paragraph (g)(1) and
adding paragraph (m) to read as follows:
Sec. 1.36B-3 Computing the premium assistance credit amount.
* * * * *
(g) * * *
(1) [The text of the proposed amendment to Sec. 1.36B-3(g)(1) is
the same as the text of Sec. 1.36B-3T(g)(1) published elsewhere in
this issue of the Federal Register].
* * * * *
(m) [The text of the proposed amendment to Sec. 1.36B-3(m) is the
same as the text of Sec. 1.36B-3T(m) published elsewhere in this issue
of the Federal Register].
0
Par. 4. Section 1.36B-4 is amended by:
0
1. Revising paragraph (a)(1)(ii).
0
2. Adding paragraph (a)(3)(iii).
0
3. In paragraph (a)(4), revising Example 4 and adding Examples 10, 11,
12, 13, and 14.
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4. Revising paragraphs (b)(3) and (b)(4).
0
5. Removing paragraph (b)(5).
0
6. Redesignating paragraph (b)(6) as paragraph (b)(5), and revising
Example 9, and adding Example 10 to newly redesignated paragraph
(b)(5).
0
7. Adding paragraph (c).
Sec. 1.36B-4 Reconciling the premium tax credit with advance credit
payments.
(a) * * *
(1) * * *
(ii) [The text of the proposed amendment to Sec. 1.36B-4(a)(1)(ii)
is the same as the text of Sec. 1.36B-4T(a)(1)(ii) published elsewhere
in this issue of the Federal Register].
* * * * *
(3) * * *
(iii) [The text of the proposed amendment to Sec. 1.36B-
4(a)(3)(iii) is the same as the text of Sec. 1.36B-4T(a)(3)(iii)
published elsewhere in this issue of the Federal Register].
(4) [The text of the proposed amendment to Sec. 1.36B-4, Example
4, Example 10, Example 11, Example 12, Example 13, and Example 14 of
paragraph (a)(4) is the same as the text of Sec. 1.36B-4T(a)(4),
Example 4, Example 10, Example 11, Example 12, Example 13, and Example
14 published elsewhere in this issue of the Federal Register].
* * * * *
(b) * * *
(3) [The text of the proposed amendment to Sec. 1.36B-4(b)(3) is
the same as the text of Sec. 1.36B-4T(b)(3) published elsewhere in
this issue of the Federal Register].
(4) [The text of the proposed amendment to Sec. 1.36B-4(b)(4) is
the same as the text of Sec. 1.36B-4T(b)(4) published elsewhere in
this issue of the Federal Register].
(5) Examples. * * *
[The text of the proposed amendment to Sec. 1.36B-4, Example 9 and
Example 10 of paragraph (b)(5) is the same as the text of Sec. 1.36B-
4T, Example 9 and Example 10 of paragraph (b)(5) published elsewhere in
this issue of the Federal Register].
* * * * *
(c) [The text of the proposed amendment to Sec. 1.36B-4(c) is the
same as the text of Sec. 1.36B-4T(c) published elsewhere in this issue
of the Federal Register].
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Par 5. Section 1.162(l)-1 is added to read as follows:
Sec. 1.162(l)-1. Deduction for health insurance costs of self-
employed individuals.
[The text of the proposed amendment to Sec. 1.162(l)-1(a) through
(c) is the same as the text of Sec. 1.162(l)-1T(a) through (c)
published elsewhere in this issue of the Federal Register].
John Dalrymple,
Deputy Commissioner for Services and Enforcement.
[FR Doc. 2014-17696 Filed 7-24-14; 4:15 pm]
BILLING CODE 4830-01-P