Internal Revenue Bulletin 2017-34 (PDF rendition): IRS Notices

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HIGHLIGHTS
OF THIS ISSUE
These synopses are intended only as aids to the reader in
identifying the subject matter covered. They may not be
relied upon as authoritative interpretations.
INCOME TAX
Notice 2017–41, page 211.
Notice 2017– 41 extends issuer voluntary reporting for 2017
catastrophic coverage enrolled in through an Exchange. In
addition, issuers may rely on this notice to voluntarily report
catastrophic plan coverage enrolled in through an Exchange
for coverage years after 2017 to the extent final regulations
requiring issuer reporting of catastrophic plan coverage en-
rolled in through an Exchange are not applicable.
Notice 2017–42, page 212.
The notice announces that Treasury and the IRS intend to
amend the sections 871(m) regulations to delay the effective/
applicability date of certain rules in those final regulations and
extends the phase-in period provided in Notice 2016 –76,
2016 –51 I.R.B. 834, for certain provisions of the section
871(m) regulations.
Finding Lists begin on page ii.
Bulletin No. 2017–34
August 21, 2017

The IRS Mission
Provide America’s taxpayers top-quality service by helping
them understand and meet their tax responsibilities and en-
force the law with integrity and fairness to all.
Introduction
The Internal Revenue Bulletin is the authoritative instrument of
the Commissioner of Internal Revenue for announcing official
rulings and procedures of the Internal Revenue Service and for
publishing Treasury Decisions, Executive Orders, Tax Conven-
tions, legislation, court decisions, and other items of general
interest. It is published weekly.
It is the policy of the Service to publish in the Bulletin all
substantive rulings necessary to promote a uniform application
of the tax laws, including all rulings that supersede, revoke,
modify, or amend any of those previously published in the
Bulletin. All published rulings apply retroactively unless other-
wise indicated. Procedures relating solely to matters of internal
management are not published; however, statements of inter-
nal practices and procedures that affect the rights and duties
of taxpayers are published.
Revenue rulings represent the conclusions of the Service on
the application of the law to the pivotal facts stated in the
revenue ruling. In those based on positions taken in rulings to
taxpayers or technical advice to Service field offices, identify-
ing details and information of a confidential nature are deleted
to prevent unwarranted invasions of privacy and to comply with
statutory requirements.
Rulings and procedures reported in the Bulletin do not have the
force and effect of Treasury Department Regulations, but they
may be used as precedents. Unpublished rulings will not be
relied on, used, or cited as precedents by Service personnel in
the disposition of other cases. In applying published rulings and
procedures, the effect of subsequent legislation, regulations,
court decisions, rulings, and procedures must be considered,
and Service personnel and others concerned are cautioned
against reaching the same conclusions in other cases unless
the facts and circumstances are substantially the same.
The Bulletin is divided into four parts as follows:
Part I.—1986 Code.
This part includes rulings and decisions based on provisions of
the Internal Revenue Code of 1986.
Part II.—Treaties and Tax Legislation.
This part is divided into two subparts as follows: Subpart A, Tax
Conventions and Other Related Items, and Subpart B, Legisla-
tion and Related Committee Reports.
Part III.—Administrative, Procedural, and Miscellaneous.
To the extent practicable, pertinent cross references to these
subjects are contained in the other Parts and Subparts. Also
included in this part are Bank Secrecy Act Administrative Rul-
ings. Bank Secrecy Act Administrative Rulings are issued by
the Department of the Treasury’s Office of the Assistant Sec-
retary (Enforcement).
Part IV.—Items of General Interest.
This part includes notices of proposed rulemakings, disbar-
ment and suspension lists, and announcements.
The last Bulletin for each month includes a cumulative index for
the matters published during the preceding months. These
monthly indexes are cumulated on a semiannual basis, and are
published in the last Bulletin of each semiannual period.
The contents of this publication are not copyrighted and may be reprinted freely. A citation of the Internal Revenue Bulletin as the source would be appropriate.
August 21, 2017Bulletin No. 2017–34

Part III. Administrative, Procedural, and Miscellaneous
Information Reporting on
Minimum Essential
Coverage Under a
Catastrophic Plan
Notice 2017–41
PURPOSE
Currently, no reporting is required with
respect to coverage under a catastrophic
plan (described in § 1302(e) of the Patient
Protection and Affordable Care Act, Pub-
lic Law 111–148, 124 Stat. 119 (2010), as
amended by the Health Care and Educa-
tion Reconciliation Act of 2010, Public
Law 111–152, 124 Stat. 1029 (2010) (col-
lectively, the Affordable Care Act)) en-
rolled in through an Affordable Insurance
Exchange (Exchange, also called a Mar-
ketplace). Guidance applicable for 2015
and 2016 coverage provided that health
insurance issuers could voluntarily report
coverage under a catastrophic plan en-
rolled in through an Exchange. This notice
extends issuer voluntary reporting for
2017 coverage under a catastrophic plan
enrolled in through an Exchange. Accord-
ingly, issuers may, but are not required to,
report 2017 coverage under a catastrophic
plan enrolled in through an Exchange. Is-
suers reporting coverage under a cata-
strophic plan are not subject to informa-
tion reporting penalties under §§ 6721 and
6722 of the Internal Revenue Code (Code)
with respect to returns and statements
voluntarily filed and furnished under
this notice.
Issuers may rely on this notice to vol-
untarily report coverage under a cata-
strophic plan enrolled in through an Ex-
change for coverage years after 2017 to
the extent final regulations requiring is-
suer reporting of coverage under a cata-
strophic plan enrolled in through an Ex-
change are not applicable.
BACKGROUND
Section 1302(e) of the Affordable Care
Act provides for catastrophic plans. These
plans are minimum essential coverage
and qualified health plans, may be of-
fered only in the individual market, and
may be enrolled in through an Ex-
change, but taxpayers may not claim the
premium tax credit for this coverage.
See§ 36B(c)(3)(A) of the Code.
Under § 5000A of the Code, individu-
als who do not qualify for a health cover-
age exemption have the choice to either
maintain minimum essential coverage or
make an individual shared responsibility
payment.
Section6055oftheCodeand
§ 1.6055–1(a) of the Income Tax Regula-
tions require all persons providing mini-
mum essential coverage (such as issuers)
to file annual information returns with the
Internal Revenue Service (IRS) reporting
certain information, including information
that identifies each covered individual and
the months of coverage. Section 6055 and
§ 1.6055–1(g) also require persons pro-
viding minimum essential coverage to fur-
nish a statement to the responsible indi-
vidual (generally, the person named on an
application who enrolls one or more indi-
viduals, including him or herself, in min-
imum essential coverage) containing the
same information that is included on the
information return required to be filed
with the IRS. This reporting allows indi-
viduals to establish (and the IRS to verify)
that they have minimum essential cover-
age and, therefore, are not liable for the
individual shared responsibility payment
under § 5000A.
Section 36B allows a premium tax
credit to eligible individuals who enroll or
enroll a family member in a qualified
health plan (other than a catastrophic
plan)throughanExchange.Under
§ 36B(f)(3), Exchanges must report to the
IRS information relating to qualified
health plans in which individuals enroll
through the Exchange, and furnish annual
statements to individuals regarding this
information.See also§ 1.36B–5(a) and (f)
of the Income Tax Regulations. For pur-
poses of reporting by Exchanges under
§ 36B(f)(3) on coverage in a qualified
health plan, the term “qualified health
plan” has the same meaning as in
§ 1301(a) of the Affordable Care Act,
except that it does not include a cata-
strophic plan described in § 1302(e) of the
Affordable Care Act.See§ 1.36B–1(c).
Accordingly, Exchanges are not required
to report coverage under a catastrophic
plan enrolled in through the Exchange.
Currently, under the § 6055 regula-
tions, issuers are not required to report any
coverage under a plan, including a cata-
strophicplan, enrolled in through an Ex-
change. Specifically, § 1.6055–1(d) pro-
vides that issuers are not required to
report on coverage in a qualified health
plan in the individual market enrolled in
through an Exchange because that infor-
mation is generally reported by Ex-
changes under § 1.36B–5. Thus, cur-
rently neither the Exchanges nor issuers
are required to report coverage under a
catastrophic plan enrolled in through an
Exchange.
Effective administration of § 5000A
requires reporting of all types of minimum
essential coverage, including coverage un-
der catastrophic plans enrolled in through
an Exchange. Accordingly, on September
16, 2015, the Department of the Treasury
(Treasury Department) and the IRS issued
Notice 2015– 68, 2015– 41 I.R.B. 547,
which stated our intent to propose regula-
tions under § 6055 to require issuers of
catastrophic plans to report catastrophic
plan coverage on Form 1095–B, Health
Coverage, beginning with coverage in
2016 (for returns and statements filed and
furnished in 2017). Notice 2015– 68 also
permitted and encouraged issuers to vol-
untarily report on 2015 catastrophic plan
coverage (on returns and statements filed
and furnished in 2016). Notice 2015– 68
provided that an issuer that voluntarily
reports on 2015 catastrophic plan cover-
age will not be subject to information re-
porting penalties for these returns and
statements.
On August 2, 2016, the Treasury De-
partment and the IRS published proposed
regulations under § 6055 that would re-
quire issuers of catastrophic plans en-
rolled in through an Exchange to report
catastrophic plan coverage under § 6055
on Form 1095–B. To allow issuers suffi-
cient time to update their systems to com-
ply with required reporting, the rule was
proposed to be effective beginning with
coverage for 2017 (for returns and state-
ments filed and furnished in 2018). The
preamble to the proposed regulations per-
mitted and encouraged issuers to volun-
Bulletin No. 2017–34August 21, 2017
211

tarily report on 2016 catastrophic plan
coverage (on returns and statements filed
and furnished in 2017). In addition, the
preamble to the proposed regulations pro-
vided that an issuer that voluntarily re-
ports on 2016 catastrophic plan coverage
will not be subject to information report-
ing penalties for these returns and state-
ments. Because these regulations have not
been finalized yet, the Treasury Depart-
ment and the IRS are issuing this notice to
allow issuers to continue to voluntarily
report catastrophic plan coverage enrolled
in through an Exchange and to inform
issuers that information reporting penal-
ties will not apply to such voluntary re-
porting.
GUIDANCE
Consistent with guidance for 2015 and
2016, issuers of catastrophic plan cover-
age may, but are not required to, report on
2017 catastrophic plan coverage enrolled
in through an Exchange (on returns and
statements filed and furnished in 2018). In
addition, issuers may rely on this notice to
voluntarily report catastrophic plan cover-
age enrolled in through an Exchange for
coverage years after 2017 to the extent
final regulations requiring issuer reporting
of catastrophic plan coverage enrolled in
through an Exchange are not applicable.
The Treasury Department and the IRS en-
courage issuers to voluntarily report on
catastrophic plan coverage enrolled in
through an Exchange.
An issuer that voluntarily reports on
catastrophic plan coverage under this no-
tice is not subject to information reporting
penalties under §§ 6721 and 6722 with
respect to returns and statements reporting
such coverage.
FURTHER INFORMATION
The principal author of this notice is
Erika C. Reigle of the Office of Associate
Chief Counsel (Income Tax & Account-
ing). For further information regarding
this notice contact Erika C. Reigle at (202)
317-7006 (not a toll-free number).
Extension of the Phase-in
Period for the Enforcement
and Administration of
Section 871(m)
Notice 2017–42
I. PURPOSE
This Notice provides taxpayers with
additional guidance for complying with
the final and temporary regulations under
sections 871(m), 1441, 1461, and 1473 of
the Internal Revenue Code (the Code)
(collectively referred to as the section
871(m) regulations) in 2018
1
and 2019.
Specifically, this Notice announces that
the Department of the Treasury (Treasury
Department) and the Internal Revenue
Service (IRS) intend to amend the section
871(m) regulations to delay the effective/
applicability date of certain rules in those
final regulations. This Notice also extends
the phase-in period provided in Notice
2016 –76, 2016 –51 I.R.B. 834, for certain
provisions of the section 871(m) regula-
tions.
Theanti-abuseruleprovidedin
§ 1.871–15(o) will continue to apply dur-
ing the phase-in years described in this
Notice. As a result, a transaction that
would not otherwise be treated as a sec-
tion 871(m) transaction (including as a
result of this Notice) may be a section
871(m) transaction under § 1.871–15(o).
II. BACKGROUND
On September 18, 2015, theFederal
Registerpublished final regulations and
temporary regulations (TD 9734, 80 FR
56866), which finalized a portion of a
2013 notice of proposed rulemaking (78
FR 73128), and introduced new temporary
regulations based on comments received
with respect to that notice of proposed
rulemaking (80 FR 56415) (2015 final
regulations and 2015 temporary regula-
tions, respectively).
On December 19, 2016, the Treasury
Department and the IRS published Notice
2016 –76, 2016 –51 I.R.B. 834, which
provided for the phased-in application
of certain provisions of the section
871(m) regulations to allow for the or-
derly implementation of those final
regulations.
2
On December 30, 2016, the Treasury
Department and the IRS released Revenue
Procedure 2017–15, 2017–3 I.R.B. 437,
which contains the final QI withholding
agreement (2017 QI Agreement), includ-
ing the requirements and obligations ap-
plicable to qualified derivatives dealers
(QDDs).
On January 24, 2017, theFederal Reg-
isterpublished final regulations and tem-
porary regulations (TD 9815, 82 FR 8144)
(the 2017 regulations), which finalized the
2015 notice of proposed rulemaking (80
FR 56415) that was issued in conjunction
with the 2015 temporary regulations. The
effective/applicability dates in the 2017
final regulations reflect the phased-in ap-
plication described in Notice 2016 –76.
SeeTreas. Reg. § 1.871–15(r)(3).
As described in more detail in sections
III through V of this Notice, this Notice
extends parts of the phase-in period de-
scribed in both Notice 2016 –76 and Rev.
Proc. 2017–15 for one additional year.
Dealers, issuers, and other withholding
agents have indicated that the phase-in
period for delta-one transactions provided
in Notice 2016 –76 and Rev. Proc.
2017–15 has provided them with valuable
time to test and further develop their with-
holding and reporting systems. Even with
the 2017 phase-in period, these market
participants have indicated that they
would benefit from additional time to re-
fine their systems based on the testing that
has occurred in 2017. In addition, dealers,
issuers, and other withholding agents con-
tinue to design, build, and test new with-
holding and reporting systems that will
enable testing and withholding on non-
delta-one transactions, and have requested
additional time to complete those systems
before being required to comply with the
section 871(m) regulations with respect to
non-delta-one transactions. Finally, con-
sistent with Executive Order 13777 (82
FR 12285), the Treasury Department and
the IRS continue to evaluate the section
871(m) regulations and consider possible
1
Unless otherwise provided, all references to years refer to calendar years.
2
The terms used in this Notice have the meanings provided in the section 871(m) regulations.
August 21, 2017Bulletin No. 2017–34
212

agency actions that may reduce unneces-
sary burdens imposed by the regulations.
III. EXTENSION OF THE PHASE-IN
YEAR FOR DELTA-ONE AND NON-
DELTA-ONE TRANSACTIONS
This section describes the extension to
the phased-in application of the section
871(m) regulations to delta-one and non-
delta-one transactions. This Notice does
not apply to any transaction that is a
section 871(m) transaction pursuant to
§ 1.871–15(d)(1) (providing that before
January 1, 2017, a notional principal con-
tract (NPC) is a specified NPC if certain
factors are present).
The Treasury Department and the IRS
have determined that it is appropriate for
taxpayers and withholding agents to
have additional time to implement the
section 871(m) regulations for non-
delta-onetransactions, including transac-
tions that are combined transactions under
§ 1.871–15(n). Therefore, the Treasury
Department and the IRS intend to revise
theeffective/applicabilitydatefor
§ 1.871–15(d)(2) and (e) to provide that
these rules will not apply to any payment
made with respect to any non-delta-one
transaction issued before January 1, 2019.
Notice 2016 –76 provides that the IRS
will take into account the extent to which
the taxpayer or withholding agent made a
good faith effort to comply with the sec-
tion 871(m) regulations with respect to
delta-one transactions in 2017 and non-
delta-one transactions in 2018 when it en-
forces the section 871(m) regulations.
This Notice extends the periods during
which the enforcement standards provided
by Notice 2016 –76 will apply. Consistent
with this extension, the IRS will take into
account the extent to which the taxpayer
or withholding agent made a good faith
effort to comply with the section 871(m)
regulations in enforcing the section
871(m) regulations for (1) any delta-one
transaction in 2017 and 2018, and (2) any
non-delta-one transaction that is a section
871(m) transaction pursuant to § 1.871–
15(d)(2) or (e) in 2019.
Similarly, for purposes of the IRS’s
enforcement and administration of the
QDD rules in the section 871(m) regula-
tions and the relevant provisions of the
2017 QI Agreement, this Notice extends
through 2018 the period during which the
IRS will take into account the extent to
which the QDD made a good faith effort
to comply with the section 871(m) regu-
lations and the relevant provisions of the
2017 QI Agreement. In addition, the IRS
intends to revise the 2017 QI Agreement
to provide that a QDD will be considered
to satisfy the obligations that apply spe-
cifically to a QDD under that agreement
for 2018 provided that the QDD makes a
good faith effort to comply with the rele-
vant provisions of the 2017 QI Agree-
ment.
IV. EXTENSION OF THE
SIMPLIFIED STANDARD FOR
DETERMINING WHETHER
TRANSACTIONS ARE COMBINED
TRANSACTIONS
Notice 2016 –76 provided a simplified
standard for withholding agents to deter-
mine whether transactions entered into in
2017 are combined transactions. Specifi-
cally, a withholding agent is required to
combine transactions entered into in 2017
for purposes of determining whether the
transactions are section 871(m) transac-
tions only when the transactions are over-
the-counter transactions that are priced,
marketed, or sold in connection with each
other. Withholding agents are not required
to combine any transactions that are listed
securities entered into in 2017.
This Notice extends the period during
which this simplified standard for com-
bined transactions applies to include 2018.
Transactions that are entered into in 2017
and 2018 that are combined under this
simplified standard will continue to be
treated as combined transactions for fu-
ture years and will not cease to be com-
bined transactions as a result of applying
§ 1.871–15(n) or disposing of less than all
of the potential section 871(m) transac-
tions that are combined under this rule.
Transactions that are entered into in 2017
and 2018 that are not combined under this
simplified standard will not become com-
bined transactions as a result of applying
§ 1.871–15(n) to these transactions in fu-
ture years, unless a reissuance or other
event causes the transactions to be re-
tested to determine whether they are sec-
tion 871(m) transactions.See§ 1.871–
15(g)(2) (providing that the delta of a
potential section 871(m) transaction gen-
erally is determined on the earlier of when
the transaction is (1) priced or (2) issued);
see also§ 1.871–15(a)(6) (defining the
term “issue” to include “an issuance as a
result of a deemed exchange pursuant to
section 1001”). This simplified standard
applies only to withholding agents, and
does not apply to taxpayers that are long
parties to potential section 871(m) trans-
actions.
V. EXTENSION OF PHASE-IN
RELIEF FOR QUALIFIED
DERIVATIVES DEALERS
Section 1.871–15T(q)(1) of the 2015
temporary regulations provided that when
a QDD received a dividend or dividend
equivalent payment and the QDD was
contractually obligated to make an offset-
ting dividend equivalent payment on the
same underlying security in an amount
that was less than the dividend and divi-
dend equivalent amount received, the
QDD would be liable for tax under section
871(a) or 881 for the difference. The 2015
final regulations provided that a withhold-
ing agent who made a payment of a divi-
dend to a qualified intermediary acting as a
QDD was not required to withhold on that
payment if the withholding agent reliably
associated the payment with a valid quali-
fied intermediary withholding form contain-
ing a certification described in § 1.1441–
1(e)(3)(ii)(E).See§ 1.1441–1(b)(4)(xxii) of
the 2015 final regulations.
Comments requested that the Treasury
Department and the IRS adopt a different
method of determining a QDD’s tax
liability. Those comments generally re-
quested that this method be based on the
QDD’s net delta exposure for each under-
lying security. The Treasury Department
and the IRS agreed that the net delta ap-
proach was an administrable and accurate
method for a QDD to determine its resid-
ual exposure to underlying securities, and
the 2017 final regulations adopted the net
delta exposure method.
In adopting the net delta approach, the
Treasury Department and the IRS were
concerned that the exemption from with-
holding on dividends paid to a QDD,
when combined with the net delta expo-
sure method, could result in U.S. source
dividends escaping U.S. tax completely
in certain circumstances. Therefore, the
2017 final regulations revised §§ 1.871–
15(q)(1) and 1.1441–1(b)(4)(xxii) to pro-
Bulletin No. 2017–34August 21, 2017
213

vide that a QDD remains liable for tax
under section 881(a)(1) and subject to
withholding under chapters 3 and 4 on
dividends. However, to allow taxpayers
time to implement the net delta approach,
the 2017 QI Agreement and the 2017 final
regulations provided that dividends and
dividend equivalents received by a QDD
in its equity derivatives dealer capacity in
2017 will not be subject to tax under sec-
tion 881(a)(1) or subject to withholding
under chapters 3 and 4.
This Notice announces that the Trea-
sury Department and the IRS intend to
amend §§ 1.871–15(q)(1) and (r)(3), and
1.1441–1(b)(4)(xxii)(C) to provide that a
QDD will not be subject to tax on divi-
dends and dividend equivalents received
in 2017 and 2018 in its equity derivatives
dealer capacity or withholding on divi-
dends (including deemed dividends).
Section 4.01(1) of Rev. Proc. 2017–15
provides that a QDD will be required to
compute its section 871(m) amount using
the net delta approach beginning in 2018.
This Notice provides that a QDD will be
required to compute its section 871(m)
amount using the net delta approach be-
ginning in 2019.
A QDD will remain liable for tax under
section 881(a)(1) on dividends and divi-
dend equivalents that it receives in any
capacity other than as an equity deriva-
tives dealer, and on any other U.S. source
FDAP payments that it receives (whether
or not in its equity derivatives dealer ca-
pacity). In addition, a QDD is responsible
for withholding on dividend equivalents it
pays to a foreign person on a section
871(m) transaction, whether acting in its
capacity as an equity derivatives dealer or
otherwise.
Finally, section 10.01(C) of the 2017
QI Agreement provides that: “For calen-
dar year 2017, a QDD is not required to
perform a periodic review with respect to
its QDD activities (as otherwise required
by section 10.04 of this Agreement) or
provide the factual information specified
in Appendix I.” This Notice provides that
a QDD is not required to perform a peri-
odic review with respect to its QDD ac-
tivities for calendar year 2017 and 2018.
Note that a QDD must use the same year
for the periodic review of its QI activities
and its QDD activities. A QI that is a
QDD must choose 2019 or a later year
within its periodic review period in which
to perform its periodic review unless its
applicable periodic review period ends in
2018 or an earlier year.
VI. TAXPAYER RELIANCE
Before the promulgation of the amend-
ments to the section 871(m) regulations
and the 2017 QI Agreement, taxpayers
may rely on the provisions of this Notice
regarding the proposed amendments de-
scribed in sections III and V. Withholding
agents may rely on the simplified standard
for determining whether transactions are
combined transactions as described in sec-
tion IV.
VII. DRAFTING INFORMATION
The principal authors of this Notice are
Karen Walny and Peter Merkel of the
Office of Associate Chief Counsel (Inter-
national). For further information regard-
ing this Notice, contact Karen Walny or
Peter Merkel at (202) 317-6938 (not a
toll-free number).
August 21, 2017Bulletin No. 2017–34
214

Definition of Terms
Revenue rulings and revenue procedures
(hereinafter referred to as “rulings”) that
have an effect on previous rulings use the
following defined terms to describe the
effect:
Amplifieddescribes a situation where
no change is being made in a prior pub-
lished position, but the prior position is
being extended to apply to a variation of
the fact situation set forth therein. Thus, if
an earlier ruling held that a principle ap-
plied to A, and the new ruling holds that
the same principle also applies to B, the
earlier ruling is amplified. (Compare with
modified, below).
Clarifiedis used in those instances
where the language in a prior ruling is
being made clear because the language
has caused, or may cause, some confu-
sion. It is not used where a position in a
prior ruling is being changed.
Distinguisheddescribes a situation
where a ruling mentions a previously pub-
lished ruling and points out an essential
difference between them.
Modifiedis used where the substance
of a previously published position is being
changed. Thus, if a prior ruling held that a
principle applied to A but not to B, and the
new ruling holds that it applies to both A
and B, the prior ruling is modified because
it corrects a published position. (Compare
withamplifiedandclarified, above).
Obsoleteddescribes a previously pub-
lished ruling that is not considered deter-
minative with respect to future transac-
tions. This term is most commonly used in
a ruling that lists previously published rul-
ings that are obsoleted because of changes
in laws or regulations. A ruling may also
be obsoleted because the substance has
been included in regulations subsequently
adopted.
Revokeddescribes situations where the
position in the previously published ruling
is not correct and the correct position is
being stated in a new ruling.
Supersededdescribes a situation where
the new ruling does nothing more than
restate the substance and situation of a
previously published ruling (or rulings).
Thus, the term is used to republish under
the 1986 Code and regulations the same
position published under the 1939 Code
and regulations. The term is also used
when it is desired to republish in a single
ruling a series of situations, names, etc.,
that were previously published over a pe-
riod of time in separate rulings. If the new
ruling does more than restate the sub-
stance of a prior ruling, a combination of
terms is used. For example,modifiedand
supersededdescribes a situation where the
substance of a previously published ruling
is being changed in part and is continued
without change in part and it is desired to
restate the valid portion of the previously
published ruling in a new ruling that is
self contained. In this case, the previously
published ruling is first modified and then,
as modified, is superseded.
Supplementedis used in situations in
which a list, such as a list of the names of
countries, is published in a ruling and that
list is expanded by adding further names
in subsequent rulings. After the original
ruling has been supplemented several
times, a new ruling may be published that
includes the list in the original ruling and
the additions, and supersedes all prior rul-
ings in the series.
Suspendedis used in rare situations to
show that the previous published rulings
will not be applied pending some future
action such as the issuance of new or
amended regulations, the outcome of
cases in litigation, or the outcome of a
Service study.
Abbreviations
The following abbreviations in current
use and formerly used will appear in ma-
terial published in the Bulletin.
A—Individual.
Acq.—Acquiescence.
B—Individual.
BE—Beneficiary.
BK—Bank.
B.T.A.—Board of Tax Appeals.
C—Individual.
C.B.—Cumulative Bulletin.
CFR—Code of Federal Regulations.
CI—City.
COOP—Cooperative.
Ct.D.—Court Decision.
CY—County.
D—Decedent.
DC—Dummy Corporation.
DE—Donee.
Del. Order—Delegation Order.
DISC—Domestic International Sales Corporation.
DR—Donor.
E—Estate.
EE—Employee.
E.O.—Executive Order.
ER—Employer.
ERISA—Employee Retirement Income Security Act.
EX—Executor.
F—Fiduciary.
FC—Foreign Country.
FICA—Federal Insurance Contributions Act.
FISC—Foreign International Sales Company.
FPH—Foreign Personal Holding Company.
F.R.—Federal Register.
FUTA—Federal Unemployment Tax Act.
FX—Foreign corporation.
G.C.M.—Chief Counsel’s Memorandum.
GE—Grantee.
GP—General Partner.
GR—Grantor.
IC—Insurance Company.
I.R.B.—Internal Revenue Bulletin.
LE—Lessee.
LP—Limited Partner.
LR—Lessor.
M—Minor.
Nonacq.—Nonacquiescence.
O—Organization.
P—Parent Corporation.
PHC—Personal Holding Company.
PO—Possession of the U.S.
PR—Partner.
PRS—Partnership.
PTE
—Prohibited Transaction Exemption.
Pub. L.—Public Law.
REIT—Real Estate Investment Trust.
Rev. Proc.—Revenue Procedure.
Rev. Rul.—Revenue Ruling.
S—Subsidiary.
S.P.R.—Statement of Procedural Rules.
Stat.—Statutes at Large.
T—Target Corporation.
T.C.—Tax Court.
T.D.—Treasury Decision.
TFE—Transferee.
TFR—Transferor.
T.I.R.—Technical Information Release.
TP—Taxpayer.
TR—Trust.
TT—Trustee.
U.S.C.—United States Code.
X—Corporation.
Y—Corporation.
Z—Corporation.
Bulletin No. 2017–34August 21, 2017
i

Numerical Finding List
1
Bulletin 2017–27 through 2017–34
Action on Decision:
2017-5, 2017-27 I.R.B.1
2017-6, 2017-33 I.R.B.194
Announcements:
2017-05, 2017-27 I.R.B.5
2017-08, 2017-28 I.R.B.9
2017-10, 2017-33 I.R.B.210
Notices:
2017-36, 2017-33 I.R.B.208
2017-37, 2017-29 I.R.B.89
2017-38, 2017-30 I.R.B.147
2017-39, 2017-31 I.R.B.150
2017-40, 2017-32 I.R.B.190
2017-41, 2017-34 I.R.B.211
2017-42, 2017-34 I.R.B.212
Proposed Regulations:
REG-139633-08, 2017-31 I.R.B.175
REG-128483-15, 2017-32 I.R.B.191
REG-136118-15, 2017-28 I.R.B.9
Revenue Procedures:
2017-41, 2017-29 I.R.B.92
2017-42, 2017-29 I.R.B.124
2017-43, 2017-31 I.R.B.153
Revenue Rulings:
2017-14, 2017-27 I.R.B.2
2017-15, 2017-32 I.R.B.176
Treasury Decisions:
9819, 2017-29 I.R.B.85
9820, 2017-32 I.R.B.178
9821, 2017-32 I.R.B.181
9822, 2017-33 I.R.B.195
9823, 2017-33 I.R.B.206
1
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2017– 01 through 2017–26 is in Internal Revenue Bulletin
2017–26, dated June 27, 2017.
August 21, 2017Bulletin No. 2017–34
ii

Finding List of Current Actions on
Previously Published Items
1
Bulletin 2017–27 through 2017–34
Notices:
2015-77
Amplified by
Notice 2017-40, 2017-32 I.R.B.190
Revenue Procedures:
2016-27
Modified by
Rev. Proc. 2017-43, 2017-31 I.R.B.153
2016-27
Superseded by
Rev. Proc. 2017-43, 2017-31 I.R.B.153
1
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2017– 01 through 2017–26 is in Internal Revenue Bulletin
2017–26, dated June 27, 2017.
Bulletin No. 2017–34August 21, 2017
iii

INTERNAL REVENUE BULLETIN
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