Today’s Federal Register contains some non-benefits tax-related regulations:
- final regulations relating both to the amount treated as a transfer under section 2519 of the Internal Revenue Code (the “Code”) when there is a right to recover gift tax under Code section 2207A(b) and to the related gift and estate tax consequences if the right to recover the gift tax is not exercised; and
- temporary and proposed regulations relating to the reduction of tax attributes under sections 108 and 1017 of the Code. These temporary regulations affect taxpayers that exclude discharge of indebtedness income from gross income under Code section 108.
Blogs are the subject of this op-ed in the Wall Street Journal today: “The Blog Shall Make You Free.” (Subscription required.) The op-ed talks about the impact blogs are having in Iran and the story of Iranian journalist Sina Motallebi, apparently arrested for the crime of blogging. Glenn Reynold’s Instapundit is mentioned in the article.
The Wall Street Journal also reports: “House to Consider a Pension Bill Based on Corporate-Bond Rates.” (Subscription required.) The article reports that the House Ways and Means Committee today is expected to take up legislation to establish a temporary benchmark for calculating a company’s pension-fund liability, as part of a broader effort to overhaul federal-pension rules.
This lively Wall Street Journal op-ed discusses what the auto industry is facing as it negotiates with unions over health care benefits: “Detroit’s Health-Care Tar Pit.” (Subscription required.)