Bulletin No. 2021–52

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HIGHLIGHTS

OF THIS ISSUE

Bulletin No. 2021–52

December 27, 2021

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.

EXCISE TAX

Notice 2021-66, page 901.

Notice 2021-66 provides the initial list of taxable substances

under section 4672(a) required by section section 80201(c)

(3) of the Infrastructure Investment and Jobs Act (Public Law

117-58, 135 Stat. 429) to be published by the Secretary of

the Treasury no later than January 1, 2022. The notice also

addresses the registration requirements imposed by section

4662(b)(10)(C) and (c)(2)(B) to exempt certain sales and

uses of taxable chemicals from tax, and provides the procedural rules that apply to taxpayers subject to the reinstated

Superfund chemical taxes. In addition, pending further guidance, the notice suspends Notice 89-61, 1989-1 C.B. 717,

as modified by Notice 95-39, 1995-1 C.B. 312, which prescribed the former process for certain persons to request

that certain substances be added to or removed from the list

of taxable substances under section 4672(a)(3) as previously

in effect. Finally, the notice requests comments on whether

any issues related to the reinstated Superfund chemical

taxes require clarification or additional guidance.

EXEMPT ORGANIZATIONS

Announcement 2021-18, page 910.

This announcement revokes Announcement 2001-33, 200117 IRB 1137. Announcement 2001-33 provided tax-exempt

organizations with reasonable cause for purposes of relief

from the penalty imposed under § 6652(c)(1)(A)(ii) of the

Internal Revenue Code if they reported compensation on

their annual information returns in the manner described in

Announcement 2001-33 instead of in accordance with cer-

Finding Lists begin on page ii.

tain form instructions. The Announcement instructs affected

tax-exempt organizations to follow the specific instructions to

the Form 990, Form 990-EZ, and Form 990-PF, effective for

annual information returns required for taxable years beginning on or after January 1, 2022 (the earliest of which will be

filed in May 2023).

TAX CONVENTIONS

Announcement 2021-19, page 912.

The Competent Authorities of the United States and the Republic of Malta entered into a Competent Authority Arrangement

under paragraph 3 of Article 25 (Mutual Agreement Procedure) of the U.S.-Malta Treaty (Treaty) confirming that certain

pension or other retirement arrangements, including Maltese

personal retirement schemes, are not treated as “pension

funds” for purposes of the Treaty and that distributions from

these schemes are not “pensions or other similar remuneration” for purposes of the Treaty. Consequently, treaty benefits cannot be obtained with respect to these schemes.

INCOME TAX

Rev. Proc. 2021-54, page 903.

The revenue procedure sets forth the unpaid loss discount factors for the 2021 accident year for purposes

of section 846 of the Internal Revenue Code. The revenue procedure also prescribes the salvage discount

factors for the 2021 accident year, which must be used

to compute discounted estimated salvage recoverable

under section 832 of the Internal Revenue Code.

The IRS Mission

Provide America’s taxpayers top-quality service by helping

them understand and meet their tax responsibilities and

enforce 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

Conventions, 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 otherwise indicated. Procedures relating solely to matters of internal management are not published; however, statements of

internal 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,

identifying 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,

Legislation 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

Rulings. Bank Secrecy Act Administrative Rulings are issued

by the Department of the Treasury’s Office of the Assistant

Secretary (Enforcement).

Part IV.—Items of General Interest.

This part includes notices of proposed rulemakings, disbarment 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.

December 20, 2021

Bulletin No. 2021–51

Part III

Superfund; Initial List

of Taxable Substances;

Registration; Procedural

Rules; Request for

Comments; Suspension

of Notice 89-61

Notice 2021-66

SECTION 1. PURPOSE

This notice relates to section 80201 of

the Infrastructure Investment and Jobs Act

(IIJA), Public Law 117-58, 135 Stat. 429

(November 15, 2021), which reinstates,

effective July 1, 2022, the excise taxes

imposed on certain chemical substances by

sections 4661 and 4671 of the Internal Revenue Code (Code) (collectively, Superfund

chemical taxes) and modifies the applicable

rates of tax and other provisions related to

those taxes. (Unless otherwise stated, all section references in this notice are to the Code.)

Pursuant to section 80201(c)(3) of the

IIJA, this notice provides the initial list of

taxable substances under section 4672(a)

required to be published by the Secretary of

the Treasury or her delegate (Secretary) no

later than January 1, 2022. This notice also

addresses the registration requirements

imposed by section 4662(b)(10)(C) and (c)

(2)(B) to exempt certain sales and uses of

taxable chemicals from tax, and provides

the procedural rules that apply to taxpayers

subject to the reinstated Superfund chemical taxes. In addition, pending further guidance, this notice suspends Notice 89-61,

1989-1 C.B. 717, as modified by Notice

95-39, 1995-1 C.B. 312, which prescribed

the former process for certain persons to

request that certain substances be added

to or removed from the list of taxable substances under section 4672(a)(3) as previously in effect. Finally, this notice requests

comments on whether any issues related

to the reinstated Superfund chemical taxes

require clarification or additional guidance.

SECTION 2. BACKGROUND

The Comprehensive Environmental

Response, Compensation, and Liability Act

Bulletin No. 2021–52

of 1980 (CERCLA), Public Law 96-510,

94 Stat. 2767 (1980), informally referred

to as “Superfund,” was enacted, in part,

to create a hazardous substance cleanup

program. Section 221 of CERCLA established the “Hazardous Substance Response

Trust Fund,” which was funded, in part, by

the section 4661(a) tax on sales of taxable

chemicals (enacted by section 211 of CERCLA) and the section 4671(a) tax on sales

or uses of imported taxable substances that

use one or more taxable chemicals in their

manufacture or production (enacted by

section 515 of the Superfund Amendments

and Reauthorization Act of 1986, Public

Law 99-499, 100 Stat. 1613 (1986)). The

Superfund chemical taxes as previously in

effect expired on December 31, 1995.

Effective July 1, 2022, section 80201 of

the IIJA reinstates the Superfund chemical

taxes with several modifications, including

to the applicable rates of tax. In addition,

section 80201(c)(1) of the IIJA modifies

the method under section 4672(a)(2)(B)

for determining whether a substance is a

taxable substance by lowering the required

percentage of taxable chemicals used to

produce the substance from 50 percent to 20

percent of the weight (or the value) of the

materials used to produce such substance.

SECTION 3. LAW

Section 4661(a) imposes a tax on any

taxable chemical sold by the manufacturer, producer, or importer.

Section 4661(b) provides a list of taxable chemicals and the amount of tax

imposed by section 4661(a) on those

chemicals.

Section 4662 provides definitions and

special rules applicable to the section

4661(a) tax.

Section 4662(b)(10)(C) and (c)(2)(B)

requires parties to sales of certain intermediate hydrocarbon streams and inventory

exchanges to be registered by the IRS in

order to qualify for the exceptions in section 4662(b)(10)(A) and (c)(2)(A).

Section 4671(a) imposes a tax on any

taxable substance sold or used by the

importer.

Section 4671(b) provides that the

amount of tax imposed by section 4671(a)

with respect to any taxable substance

901

is equal to the amount of tax that would

have been imposed by section 4661 on

the taxable chemicals used as materials in

the manufacture of the taxable substance

if such taxable chemicals had been sold

in the United States for use in the manufacture or production of the taxable substance.

Section 4672 provides definitions and

special rules applicable to the section

4671(a) tax.

Section 4672(a)(1) generally provides

that the term “taxable substance” means

any substance which, at the time of sale or

use by the importer, is listed as a taxable

substance. Section 4672(a)(3) provides a

list of taxable substances.

Section 4672(a)(2), as modified by section 80201(c)(1) of the IIJA, generally provides that a substance shall be listed under

section 4672(a)(1) if (A) the substance

is contained in the list in section 4672(a)

(3), or (B) the Secretary determines, in

consultation with the Administrator of the

Environmental Protection Agency and the

Commissioner of U.S. Customs and Border Protection, that taxable chemicals constitute more than 20 percent of the weight

(or more than 20 percent of the value) of

the materials used to produce such substance (determined on the basis of the

predominant method of production). Section 4672(a)(2) further provides that an

importer or exporter of any substance may

request a determination on whether that

substance should be added to or removed

from the list of taxable substances.

Notice 89-61 provides rules for filing

a petition to request a modification of the

list of taxable substances under section

4672(a).

SECTION 4. INITIAL LIST OF

TAXABLE SUBSTANCES UNDER

SECTION 4672(a)

Section 80201(c)(2) of the IIJA creates a presumption that any substance that

was determined to be a taxable substance

under section 4672(a)(2) prior to November 15, 2021 (the date of enactment of the

IIJA), continues to be treated as a taxable

substance for purposes of section 4672(a)

(2). As noted above, section 80201(c)(3)

of the IIJA requires the Secretary to pub-

December 27, 2021

lish an initial list of taxable substances

under section 4672(a) by January 1, 2022.

Based on the presumption in section

80201(c)(2) of the IIJA and other considerations, such as the reduction of the

weight and value thresholds in section

4672(a)(2)(B) from 50 percent to 20 percent made by section 80201(c)(1) of the

IIJA and determinations regarding taxable

substances previously made pursuant to

the process described in Notice 89-61,

the Department of the Treasury (Treasury

Department) and the Internal Revenue

Service (IRS) have determined that the

initial list of taxable substances required

to be published by section 80201(c)(3)

of the IIJA includes only the taxable substances listed in section 4672(a)(3) and

the following substances:

1,4 butanediol

1,3-butylene glycol

1,5,9-cyclododecatriene

2-ethyl hexanol

2-ethylhexyl acrylate

2 , 2 , 4 - tr imeth y l- 1 , 3 - p en tan ed io l

diisobutyrate

2 , 2 , 4 - tr imeth y l- 1 , 3 - p en tan ed io l

monoisobutyrate

acetic acid

acetylene black

adipic acid

adiponitrile

allyl chloride

alpha-methylstyrene

aniline

benzaldehyde

benzoic acid

bisphenol-A

butanol

butyl acrylate

butyl benzyl phthalate

chlorinated polyethylene

cyclododecanol

decabromodiphenyl oxide

di-2 ethyl hexyl phthalate

di-n-hexyl adipate

diethanolamine

diglycidyl ether of bisphenol-A

diisopropanolamine

dimethyl terephthalate

dimethyl-2, 6-naphthalene dicarboxylate

diphenyl oxide

diphenylamine

epichlorohydrin

ethyl acetate

ethyl acrylate

December 27, 2021

ethyl chloride

ethylene dibromide

ethylenebistetrabromophthalimide

formic acid

glycerine

hexabromocyclododecane

hexamethylenediamine

isobutyl acetate

isopropyl acetate

linear alpha olefins

methyl acrylate

methyl chloroform

methyl isobutyl ketone

methyl methacrylate

monochlorobenzene

monoethanolamine

monoisopropanolamine

normal butyl acetate

normal propyl acetate

nylon 6/6

ortho-dichlorobenzene

ortho-nitrochlorobenzene

paraformaldehyde

para-dichlorobenzene

para-nitrochlorobenzene

para-nitrophenol

pentaerythritol

perchloroethylene

phenol

phosphorous pentasulfide

phosphorous trichloride

poly 1,4 butyleneterephthalate

poly (69/31 ethylene/cyclohexylenedimethylene terephthalate)

poly (96.5/3.5 ethylene/cyclohexylenedimethylene terephthalate)

poly (98.5/1.5 ethylene/cyclohexylenedimethylene terephthalate)

poly(ethyleneoxy)glycerol

poly(propylene)glycol

poly(propylene/ethylene)glycol

poly(propyleneoxy)glycerol

poly(propyleneoxy)sucrose

poly(propyleneoxy/ethyleneoxy)benzenediamine

poly(propyleneoxy/ethyleneoxy)

diamine

poly(propyleneoxy/ethyleneoxy)glycerol

poly(propyleneoxy/ethyleneoxy)

sucrose

polyalphaolefins

polybutene

polybutylene

polybutylene/ethylene

polycarbonate

polyethylene terephthalate pellets

902

propanol

sodium nitriolotriacetate monohydrate

synthetic linear fatty alcohols

synthetic linear fatty alcohol ethoxylates

terephthalic acid

tetrabromobisphenol-A

tetrachlorophthalic anhydride

tetrahydrofuran

texanol benzyl phthalate

toluene diisocyanate

toluenediamine

trichloroethylene

triethanolamine

triisopropanolamine

trimethylolpropane

vinyl acetate

SECTION 5. PETITIONS TO

MODIFY THE LIST OF TAXABLE

SUBSTANCES

Notice 89-61, issued when the Superfund chemical taxes were previously

in effect, prescribes the process under

section 4672(a)(2) by which importers

or exporters may request a determination that the list of taxable substances be

modified by either adding or removing a

substance. The Treasury Department and

the IRS intend to update Notice 89-61

to reflect the changes made to section

4672(a)(2) by the IIJA, and to make other

changes that may be necessary. Accordingly, Notice 89-61 is suspended pending

the issuance of additional guidance. See

IRM 32.2.2.8.1, para. 9 (Aug. 11, 2004)

(providing that previously published guidance can be suspended in rare situations

“to show that previously published guidance will not be applied pending some

future action, such as the issuance of new

or amended regulations”).

SECTION 6. REGISTRATION FOR

CERTAIN EXCEPTIONS

Section 4662(b)(10)(A) provides that

no tax is imposed on any organic taxable

chemical while the chemical is part of an

intermediate hydrocarbon stream containing one or more organic taxable chemicals. Section 4662(b)(10)(C) provides that

the exception in section 4662(b)(10)(A)

does not apply to the sale of any intermediate hydrocarbon stream unless the registration requirements of section 4662(c)(2)

(B) are satisfied.

Bulletin No. 2021–52

Section 4662(c)(2)(A) provides that

no tax is imposed on inventory exchanges

of taxable chemicals. Section 4662(c)(2)

(B) provides that the exception in section 4662(c)(2)(A) does not apply to any

inventory exchange unless the registration

requirements of section 4662(c)(2)(B) are

satisfied.

The registration requirements of section 4662(c)(2)(B) are not satisfied unless

(i) both parties are registered by the IRS

as manufacturers, producers, or importers

of taxable chemicals; and (ii) the person

receiving the taxable chemical has notified

the manufacturer, producer, or importer of

such person’s registration number.

Application for section 4662(b)(10)(C)

intermediate hydrocarbon stream registration and section 4662(c)(2)(B) inventory

exchange registration must be made on

Form 637, Application for Registration

(For Certain Excise Tax Activities), under

Activity Letter “G” (persons making

inventory exchanges of taxable chemicals under section 4662(c)(2) or persons

selling or buying intermediate hydrocarbon streams under section 4662(b)(10))

in accordance with the instructions for

that form. The IRS is revising Form 637

to add Activity Letter G. Until the revised

Form 637 is released, applicants may use

the current Form 637 by writing in Activity Letter G and providing the following

information: (i) a list of the taxable chemicals the applicant exchanges and/or the

intermediate hydrocarbon streams the

applicant sells or buys; and (ii) a description of the applicant’s processing plants,

the products produced, the handling

and storage facilities, and the processes

involving hydrocarbon streams, as applicable.

SECTION 7. APPLICABLE

PROCEDURAL RULES

The Superfund chemical taxes are part

of Subtitle D, chapter 38 of the Code.

Accordingly, the procedural rules in 26

C.F.R. part 40 regarding filing, deposits,

etc., apply to persons subject to the reinstated Superfund chemical taxes. Such

persons must report the reinstated Superfund chemical taxes on Form 6627, Environmental Taxes, which is attached to

Form 720, Quarterly Federal Excise Tax

Return.

Bulletin No. 2021–52

SECTION 8. REQUEST FOR

COMMENTS

SECTION 11. DRAFTING

INFORMATION

The Treasury Department and the IRS

request comments on whether any issues

related to the reinstated Superfund chemical taxes require clarification or additional guidance. Comments should be

submitted in writing by January 28, 2022,

and should include a reference to Notice

2021-66. Comments may be submitted

electronically via the Federal Rulemaking Portal at www.regulations.gov (type

IRS-2021-0018 or Notice 2021-66 in the

search field on the regulations.gov homepage to find this notice and submit comments). Alternatively, comments may be

mailed to: Internal Revenue Service, Attn:

CC:PA:LPD:PR (Notice 2021-66), Room

5203, P.O. Box 7604, Ben Franklin Station,

Washington D.C. 20044. All commenters

are strongly encouraged to submit public

comments electronically. The IRS expects

to have limited personnel available to process public comments that are submitted

on paper through mail. Until further notice,

any comments submitted on paper will be

considered to the extent practicable. The

Treasury Department and the IRS will publish for public availability any comment

submitted electronically, and, to the extent

practicable, on paper, to its public docket.

The principal authors of this notice are

Stephanie Bland, Amanda Dunlap, and

Natalie Payne of the Office of Associate

Chief Counsel (Passthroughs & Special

Industries). For questions regarding the

registration process, contact Diane M.

Williams at (856) 792-9362. For all other

questions regarding this notice, contact

Ms. Payne at (202) 317-6855.

SECTION 9. EFFECT ON OTHER

DOCUMENTS

Notice 89-61 is suspended.

SECTION 10. PAPERWORK

REDUCTION ACT

Section 6 of this notice sets forth a

collection of information to be provided

to the IRS with Form 637. This collection of information will be reflected in the

submission to the Office of Management

and Budget (OMB) for review in accordance with the Paperwork Reduction Act

(44 U.S.C. 3507(c)) that is associated with

Form 637 (OMB control number 15451835). This submission will be updated

in the ordinary course. An agency may

not conduct or sponsor, and a person is

not required to respond to, a collection

of information unless the collection of

information displays a valid OMB control

number.

903

26 CFR 601.201: Rulings and determination letters.

(Also: Part I, Sections 832, 846; 1.832-4, 1.846-1.)

Rev. Proc. 2021-54

SECTION 1. PURPOSE

This revenue procedure prescribes discount factors for the 2021 accident year

for use by insurance companies in computing discounted unpaid losses under

§ 846 of the Internal Revenue Code and

discounted estimated salvage recoverable

under § 832. This revenue procedure also

provides, for convenience, discount factors for losses incurred in the 2020 accident year and earlier accident years for use

in taxable years beginning in 2021. The

discount factors for accident years before

2021 were prescribed in Rev. Proc. 202048, 2020-49 I.R.B. 1459. See Rev. Proc.

2019-31, 2019-33 I.R.B. 643, and Rev.

Proc. 2019-06, 2019-02 I.R.B. 284, for

background concerning the loss payment

patterns and application of the discount

factors.

SECTION 2. SCOPE

This revenue procedure applies to any

insurance company that is required to

discount unpaid losses under § 846 for a

line of business using the discount factors published by the Secretary, and also

applies to any insurance company that is

required to discount estimated salvage

recoverable under § 832.

SECTION 3. DISCOUNT FACTORS

FOR THE 2021 ACCIDENT YEAR

.01 The tables in this section 3 present separately for each line of business

December 27, 2021

the discount factors for losses incurred in

the 2021 accident year for use by insurance companies in computing discounted

unpaid losses under § 846 and estimated

salvage recoverable under § 832. The discount factors presented in this section are

generally determined by using the applicable interest rate for 2021 under § 846(c),

which is 2.84 percent, compounded semiannually. The exceptions are the discount

factors for long-tail lines of business provided for taxable years beginning in 2031,

which are computed using discount factors

applicable to multiple accident years. All

discount factors are determined by assuming all loss payments occur in the middle

of the calendar year.

.02 Section V of Notice 88-100, 1988-2

C.B. 439, sets forth a composite method

for computing discounted unpaid losses

for accident years that are not separately

reported on the annual statement. Tables 1

and 2 separately provide discount factors

for insurance companies that have elected

to use the composite method of Notice

88-100. See Rev. Proc. 2002-74, 2002-2

C.B. 980. The discount factors computed

using the composite method are unrelated

to the composite discount factors referred

to in § 1.846-1(b)(1)(ii) and (4) of the

Income Tax Regulations, which apply

to lines of business for which the Secretary has not published discount factors.

The composite discount factors for use

with respect to such lines of business are

labelled “Short-Tail Composite” (in Table

1, part B) and “Long-Tail Composite”

(in Table 2, part B). The “Miscellaneous

Casualty” discount factors referenced in

§ 1.846-1(b)(2) are not set forth in tables,

but are equivalent to the “Short-Tail Composite” discount factors.

Table 1 (part A)

Discount Factors Under Section 846 (percent)

For Losses Incurred in Accident Year 2021 in Short-Tail Lines of Business

Taxable Year

Fidelity/

Financial Guaranty/

Beginning in

Auto Physical Damage

Surety

Mortgage Guaranty

International

Other*

2021

98.4430

96.1212

95.8926

96.4227

97.1971

2022

97.2290

Taxpayer Not Using Composite Method

Years after 2022

98.5999

Taxpayer Using the Composite Method

2023

98.5999

Years after 2023

Use composite method discount factors published in Table 1 for the relevant accident year.**

* For Accident and Health lines of business (other than disability income or credit disability insurance), the discount factor

for taxable year 2021 is 98.5999 percent. This is also the discount factor used in later taxable years for taxpayers not using

the composite method. For taxpayers using the composite method, the discount factor for losses incurred in 2021 is the

discount factor published for Accident and Health lines of business for losses incurred in the accident year coinciding with

the taxable year.

**The relevant accident year is the accident year that is two years prior to the specified taxable year.

Table 1 (part B)

Discount Factors Under Section 846 (percent)

For Losses Incurred in Accident Year 2021 in Short-Tail Lines of Business

Special Property

Reinsurance Reinsurance Reinsurance (Fire, Allied Lines,

Taxable

Nonproportional Nonproportional Nonproportional

Inland Marine,

Year

Assumed

Earthquake,

Beginning in Financial Lines

Liability

Property

Burglary & Theft) Warranty

2021

95.7494

95.0072

96.4056

97.5958

98.2549

2022

97.2290

Taxpayer Not Using Composite Method

Years after

98.5999

2022

Taxpayer Using the Composite Method

2023

98.5999

Years after

2023

Use composite discount factors published in Table 1 for the relevant accident year.*

Short-Tail

Composite

97.0943

97.2290

98.5999

*The relevant accident year is the accident year that is two years prior to the specified taxable year.

December 27, 2021

904

Bulletin No. 2021–52

Table 2 (part A)

Discount Factors Under Section 846 (percent)

For Losses Incurred in Accident Year 2021 in Long-Tail Lines of Business

Medical

Other

Taxable

Commercial

Professional

Liability Year

Auto/Truck

Liability Liability Multiple Peril

ClaimsBeginning in Liability/Medical

Claims-Made

Occurrence

Lines

Made

2021

94.2466

91.9173

87.2985

95.4554

91.1762

2022

94.9297

92.8717

89.2979

93.8725

91.9550

2023

95.4344

93.0842

90.7809

94.1554

92.4448

2024

95.4717

93.3572

92.0790

93.4173

92.4864

2025

95.3575

93.4953

92.9976

91.6759

92.3482

2026

95.2101

93.5188

93.7158

91.8684

92.8399

2027

95.4780

94.4288

94.5029

91.5907

93.2995

2028

95.1447

95.2881

95.1626

91.3051

94.0375

2029

96.5290

96.1473

96.2499

93.7295

95.0924

2030

98.4134

97.8252

97.8637

95.0210

96.7971

Taxpayer Not Using Composite Method

2031

98.5999

96.3150

98.0698

2032

98.5999

97.5874

98.5999

Years after

98.5999

2032

Taxpayer Using the Composite Method

2031

98.5999

96.9392

98.1368

Years after

2031

Use composite discount factors published in Table 2 for the relevant accident year.*

Other

Liability Occurrence

89.6959

90.5083

91.0405

91.2022

90.9746

91.0447

91.0706

92.2390

92.8607

94.6766

95.9875

97.3100

98.5999

96.7452

*The relevant accident year is the accident year that is ten years prior to the specified taxable year.

Bulletin No. 2021–52

905

December 27, 2021

Table 2 (part B)

Discount Factors Under Section 846 (percent)

For Losses Incurred in Accident Year 2021 in Long-Tail Lines of Business

Private

Taxable

Passenger

Products

Year

Auto Liability/

Liability Liability Workers'

Beginning in

Medical

Claims-Made

Occurrence

Compensation

2021

95.8143

86.3181

88.1921

88.3902

2022

95.4438

86.7679

89.4762

86.9319

2023

95.4048

88.4963

90.1990

85.8758

2024

95.0561

84.2953

91.4658

84.4348

2025

94.4178

85.5424

90.1962

83.9002

2026

94.4666

86.8355

90.2467

83.3968

2027

94.6980

88.1822

91.1419

83.7563

2028

95.2164

89.3819

92.0685

84.5824

2029

95.7906

90.6034

92.4505

85.1799

2030

97.8038

91.8471

94.5952

87.0064

Taxpayer Not Using Composite Method

2031

98.5999

93.1129

95.9128

88.1846

2032

98.5999

94.4005

97.2514

89.3844

2033

98.5999

95.7084

98.5999

90.6060

2034

98.5999

97.0315

98.5999

91.8498

2035

98.5999

98.3441

98.5999

93.1157

2036

98.5999

94.4034

2037

98.5999

95.7116

2038

98.5999

97.0350

2039

98.5999

98.3484

Years after

98.5999

2039

Taxpayer Using the Composite Method

2031

98.5999

94.6915

96.7042

91.1782

Years after

2031

Use composite discount factors published in Table 2 for the relevant accident year.*

Long-Tail

Composite

92.9811

91.9840

91.7095

90.5906

89.0997

88.9927

88.9796

89.5061

90.6906

92.3972

93.6657

94.9515

96.2473

97.5271

98.5999

95.0674

*The relevant accident year is the accident year that is ten years prior to the specified taxable year.

SECTION 4. DISCOUNT FACTORS

FOR TAXABLE YEARS BEGINNING

IN 2021

.01 The tables in this section 4 present separately for each line of business

discount factors for losses incurred in the

2021 accident year and earlier accident

years for use by insurance companies in

computing discounted unpaid losses under

§ 846 and estimated salvage recoverable

December 27, 2021

under § 832 in taxable years beginning in

2021.

.02 Tables 3 and 4 separately provide

discount factors for insurance companies

that have elected to use the composite

method of Notice 88-100. See Rev. Proc.

2002-74. The discount factors computed

using the composite method are unrelated to the composite discount factors

referred to in § 1.846-1(b)(1)(ii) and

(4), which apply to lines of business for

906

which the Secretary has not published

discount factors. The composite discount factors for use with respect to such

lines of business are labelled “ShortTail Composite” (in Table 3, part B) and

“Long-Tail Composite” (in Table 4, part

B). The “Miscellaneous Casualty” discount factors referenced in § 1.846-1(b)

(2) are not set forth in tables, but are

equivalent to the “Short-Tail Composite”

discount factors.

Bulletin No. 2021–52

Accident Year

Auto Physical

Damage

2021

98.4430

2020

97.0010

Taxpayer Not Using Composite Method

2019

98.4785

Years before

98.5513

2019

Taxpayer Using the Composite Method

Years before

98.4785

2020

Table 3 (part A)

Discount Factors Under Section 846 (percent)

For Taxable Year(s) Beginning in 2021

Short-Tail Lines of Business

Fidelity/Surety

Financial Guaranty/

Mortgage Guaranty

96.1212

95.8926

97.0010

International

Other*

96.4227

97.0010

97.1971

97.0010

98.4785

98.5513

98.4785

98.5513

98.4785

98.5513

98.4785

98.5513

98.4785

* For Accident and Health lines of business (other than disability income or credit disability insurance), the discount factor

for taxable year 2021 is 98.5999 percent.

Table 3 (part B)

Discount Factors Under Section 846 (percent)

For Taxable Year(s) Beginning in 2021

Short-Tail Lines of Business

Special Property

Reinsurance Reinsurance Reinsurance (Fire, Allied Lines,

Nonproportional Nonproportional Nonproportional

Accident Year

Inland Marine,

Assumed

Earthquake,

Financial Lines

Liability

Property

Burglary & Theft)

2021

95.7494

95.0072

96.4056

97.5958

2020

97.0010

Taxpayer Not Using Composite Method

2019

98.4785

Years before

2019

98.5513

Taxpayer Using the Composite Method

Years before

98.4785

2020

Bulletin No. 2021–52

907

Warranty

Short-Tail

Composite

98.2549

97.0010

97.0943

97.0010

98.4785

98.5513

98.4785

December 27, 2021

Table 4 (part A)

Discount Factors Under Section 846 (percent)

For Taxable Year(s) Beginning in 2021

Long-Tail Lines of Business

Medical

Commercial

Professional

Accident

Auto/Truck

Liability - ClaimsYear

Liability/Medical

Made

2021

94.2466

91.9173

2020

94.5252

92.3148

2019

95.0543

92.5197

2018

95.3204

93.1388

2017

95.2024

93.2805

2016

95.0498

93.3035

2015

95.3260

94.2423

2014

94.9804

95.1291

2013

96.4102

96.0160

2012

98.3585

97.7503

Taxpayer Not Using the Composite Method

2011

98.5513

2010

98.5513

Years

98.5513

before 2010

Taxpayer Using the Composite Method

Years

98.5513

before 2012

Medical

Professional

Liability Occurrence

87.2985

88.4733

90.0344

91.8194

92.7664

93.5069

94.3189

94.9993

96.1220

97.7902

Multiple

Peril Lines

95.4554

93.3939

93.6815

93.2041

91.4064

91.6039

91.3154

91.0177

93.5200

94.8530

Other

Liability Claims-Made

91.1762

91.3319

91.8334

92.2415

92.0976

92.6040

93.0770

93.8378

94.9264

96.6876

Other

Liability Occurrence

89.6959

89.7843

90.3264

90.9196

90.6836

90.7542

90.7788

91.9830

92.6228

94.4974

98.5513

96.1895

97.5045

98.5513

98.0033

98.5513

95.8511

97.2176

98.5513

96.9185

98.0920

96.7300

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908

Bulletin No. 2021–52

Table 4 (part B)

Discount Factors Under Section 846 (percent)

For Taxable Year(s) Beginning in 2021

Long-Tail Lines of Business

Private

Passenger

Products

Auto Liability/

Liability Accident Year

Medical

Claims-Made

2021

95.8143

86.3181

2020

95.0805

85.7949

2019

95.0239

87.6130

2018

94.8920

83.8076

2017

94.2325

85.0889

2016

94.2824

86.4184

2015

94.5205

87.8040

2014

95.0550

89.0388

2013

95.6473

90.2969

2012

97.7282

91.5785

Taxpayer Not Using the Composite Method

2011

98.5513

92.8838

2010

98.5513

94.2124

2009

98.5513

95.5629

2008

98.5513

96.9299

2007

98.5513

98.2868

2006

98.5513

2005

98.5513

2004

98.5513

2003

98.5513

Years before 2003

98.5513

Taxpayer Using the Composite Method

Years before 2012

98.5513

94.7288

SECTION 5. DRAFTING

INFORMATION

The principal author of this revenue

procedure is Megan McGuire of the Office

of Associate Chief Counsel (Financial

Institutions & Products). For further information regarding this revenue procedure

contact Ms. McGuire at (202) 317-6995

(not a toll-free number).

Bulletin No. 2021–52

Products

Liability Occurrence

88.1921

88.6772

89.4203

91.1924

89.8810

89.9309

90.8527

91.8072

92.1992

94.4133

Workers'

Compensation

88.3902

85.9962

84.8235

83.9662

83.4129

82.8905

83.2567

84.1036

84.7150

86.5946

Long-Tail

Composite

92.9811

91.3753

91.0564

90.2933

88.7546

88.6421

88.6258

89.1661

90.3858

92.1457

95.7739

97.1571

98.5513

87.8065

89.0414

90.2995

91.5813

92.8867

94.2154

95.5661

96.9334

98.2913

98.5513

93.4541

94.7812

96.1195

97.4421

98.5513

96.6903

91.2579

95.0968

Section 846.—Discounted

Unpaid Losses Defined.

Section 832.—Insurance

company taxable income.

26 C.F.R. 1.846-1: Application of discount factors.

Applicable unpaid loss discount factors for the

2021 accident year for purposes of section 846. See

Rev. Proc. 2021-54, page 903.

26 C.F.R. 1.832-4: Gross income.

Applicable salvage discount factors for the 2021

accident year, which must be used to compute discounted estimated salvage recoverable under section

832. See Rev. Proc. 2021-54, page 903.

909

December 27, 2021

Part IV

Revocation of

Announcement 2001-33

Announcement 2021-18

INTRODUCTION

This announcement revokes Announcement 2001-33, 2001-17 IRB 1137, which

deemed organizations exempt from taxation under § 501(a) of the Internal Revenue Code (Code) (tax-exempt organizations) to have reasonable cause for purposes of relief from the penalty imposed

under § 6652(c)(1)(A)(ii) of the Code

if they reported compensation on their

annual information returns in the manner described in Announcement 2001-33

instead of in accordance with certain form

instructions.

BACKGROUND

In general, § 6033(a)(1) of the Code

provides that every tax-exempt organization must file an annual return, stating

specifically the items of gross income,

receipts, and disbursements, and such

other information for the purpose of carrying out the internal revenue laws as the

Secretary of the Treasury or her delegate

may by forms or regulations prescribe.

Section 1.6033-2 of the Income Tax Regulations recites the language in § 6033(a)

(1), and requires that the organization

provide certain specified information,

including: (1) the names and addresses

of all officers, directors, or trustees (or

any person having similar responsibilities

or powers), and, in the case of a private

foundation, names and addresses of the

foundation’s managers; (2) a schedule

showing the names and addresses and/or

total numbers of key employees, highly

compensated employees, and independent

contractors; and (3) a schedule showing

the compensation and other payments

made to each of the persons listed. Section

6652(c)(1)(A)(ii) imposes a daily penalty

for the failure to include any of the information required to be shown on a return

filed under § 6033(a)(1).

The annual information returns

required under § 6033(a)(1) are Form

990, Return of Organization Exempt From

Income Tax; Form 990-EZ, Short Form

Return of Organization Exempt From

Income Tax; and Form 990-PF, Return of

Private Foundation (collectively, for purposes of this announcement, Form 990

series).

Beginning in 1999, in response to concerns that tax-exempt organizations were

paying excessive compensation to employees and avoiding reporting by channeling

the compensation through management

services companies and other entities, the

Internal Revenue Service (IRS) added to

the Form 990 series instructions the following statement: “If you pay any other

person, such as a management services

company, for the services provided by any

of your officers, directors, trustees or key

employees [or foundation managers for

private foundations], report the compensation and other items as if you had paid

them directly.”

The IRS received numerous comments concerning these new instructions

and issued Announcement 2001-33 to

solicit additional comments. Announcement 2001-33 provided that, until the IRS

notifies organizations otherwise by an

Announcement published in the Internal

Revenue Bulletin, a tax-exempt organization will be deemed to have reasonable

cause, for purposes of the penalty imposed

under § 6652(c)(1)(A)(ii), if it reports in

the compensation section of the Form 990

series1 return the amount paid to the management company (or other entity or person) for services, rather than reporting the

compensation paid to the person(s) who

provided services to the tax-exempt organization on behalf of that management

company.

In 2007, the IRS extensively redesigned the Form 990 for the tax year 2008,

including the parts of the form for reporting of compensation. Specifically, the

instructions to new Part VII of the 2008

Form 990 changed the reporting requirements for payments to management companies, treating them as independent contractors to be reported in Form 990, Part

VII, Section B, and requiring payments

from related management companies (but

not other management companies) to a

current or former officer, director, trustee,

or key employee (ODTKE) or highly compensated employee (HCE) to be reported

in Form 990, Part VII, Section A, columns

(E) and (F).

In response to questions and comments

received from the public, the IRS continued to refine Form 990, its schedules,

and instructions for tax years 2009 and

2010, including the instructions on reporting compensation paid through management companies. For example, the 2009

Form 990 instructions added an exception to the direction to report payments

to management companies as payments

to independent contractors, requiring that

employees of a management company be

reported as the tax-exempt organization’s

own employees if they are common law

employees of the tax-exempt organization

under state law.

In 2011, the IRS issued Announcement

2011-36, 2011-26 IRB 933, to, in part,

solicit comments from the public on transitional issues involving the redesigned

Form 990, including with respect to the

reporting of compensation paid to management and leasing companies. Announcement 2011-36 described Announcement

2001-33, the updated instructions to the

Form 990, and the concerns raised by the

public (1) that the instructions may allow

tax-exempt organizations to shield compensation to highly-paid executives from

disclosure by paying those executives

indirectly through management companies and (2) that determining whether a

Specifically, Announcement 2001-33 deems organizations to have reasonable cause for the “failure to provide the information required by the relevant portions of Parts IV, V, or VII” of Form

990-EZ, Form 990, and Form 990-PF, respectively. At the time Announcement 2001-33 was issued, Part V of the Form 990 addressed compensation and was titled List of Officers, Directors,

Trustees, and Key Employees. However, beginning with the 2008 Form 990 to the present, Part VII now addresses compensation and is titled Compensation of Officers, Directors, Trustees,

Key Employees, Highly Compensated Employees, and Independent Contractors.

December 27, 2021

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Bulletin No. 2021–52

person is a common law employee under

state law is difficult. Based on some of

the comments received in response to

Announcement 2011-36, the IRS made

additional changes to the Form 990 and its

instructions.

Throughout the years, the IRS has continued to make revisions to the Form 990

and its instructions, including with regard

to compensation reporting, and to further

solicit and consider public feedback. Presently, the Form 990 instructions require

reporting on compensation that is similar

to the reporting described in Announcement 2011-36. However, the instructions

now clarify that if a tax-exempt organization’s current or former ODTKEs or HCEs

receive compensation from a related

management company that provided services to the tax-exempt organization, the

tax-exempt organization must report the

compensation separately. In addition,

the current instructions provide that, if a

tax-exempt organization has delegated

management duties to a management

company (or other entity or person), then

the tax-exempt organization must report

the details of the arrangement on Form

990, Schedule O, including the name(s) of

any of its current or former ODTKEs and

HCEs that were compensated under the

arrangement, and the amount(s) received

by the management company for the services provided to the tax-exempt organization. The current instructions also

explain how the tax-exempt organization

should treat employees of an employee

leasing company, a professional employer

organization (PEO) (whether or not a certified PEO), or a management company.

While the Forms 990-EZ and 990-PF2

were not redesigned to align with the Form

990, minor changes to their instructions

regarding compensation reporting have

been made over the years, and tax-exempt

organizations have had the opportunity to

comment on the Forms 990-EZ and 990PF as well as on their instructions.

and related instructions over the years,

including as part of the Form 990 redesign

process and in response to Announcement

2011-36. Having all tax-exempt organizations report compensation in accordance with the specific Form 990 series

instructions will improve transparency

and compliance by making it easier for

the public and the IRS to understand the

financial operations, including compensation arrangements, of tax-exempt organizations that file Form 990 series returns.

Accordingly, this announcement revokes

Announcement 2001-33, effective for

annual information returns required to

be filed for taxable years beginning on or

after January 1, 2022.

ANNOUNCEMENT 2001-33

REVOKED

DRAFTING INFORMATION

The Department of the Treasury and

the IRS have determined that it is no longer appropriate for tax-exempt organizations that file Form 990 series returns to

rely on Announcement 2001-33 rather

than follow the specific instructions to the

Form 990, Form 990-EZ, and Form 990PF. Tax-exempt organizations have had

multiple opportunities to comment on the

Form 990, Form 990-EZ, Form 990-PF,

The principal author of this announcement is La Vonne Fischer of the Office of

Associate Chief Counsel (Employee Benefits, Exempt Organizations, and Employment Taxes). For further information

regarding this announcement, contact La

Vonne Fischer at (202) 317-5800 (not a

toll-free number).

The Form 990-PF instructions currently reference Announcement 2001-33; the reference will be removed.

Bulletin No. 2021–52

911

December 27, 2021

Subpart A – Tax Conventions and Other Related Items

U.S. - Malta Competent Authority Arrangement

Announcement 2021-19

The following is a copy of the Competent Authority Arrangement entered into by the competent authorities of the United States

of America and the Republic of Malta under paragraph 3 of Article 25 (Mutual Agreement Procedure) of the Convention between

the Government of the United States of America and the Government of Malta for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income signed on August 8, 2008, and entered into effect on January 1, 2011 (the

“Treaty”), regarding the meaning of “pension fund” for purposes of the Treaty.

The text of the Competent Authority Arrangement is as follows:

COMPETENT AUTHORITY ARRANGEMENT

The competent authorities of the United States of America and the Republic of Malta enter into the following arrangement (Arrangement) regarding the definition of the term “pension fund” under the Convention between the Government of the United States of

America and the Government of Malta for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to

Taxes on Income signed on August 8, 2008, and entered into effect on January 1, 2011 (Treaty). This Arrangement is entered into

under paragraph 3 of Article 25 (Mutual Agreement Procedure) of the Treaty.

It has come to the attention of the competent authorities that U.S. citizens and residents are establishing personal retirement schemes

in Malta under the Retirement Pensions Act of 2011 with no limitation based on earnings from employment or self-employment, and

are making contributions to these schemes in forms other than cash (e.g., securities). Questions have arisen in the United States about

whether these personal retirement schemes are “pension funds” for purposes of applying the Treaty.

The term “pension fund” is defined in paragraph 1(k) of Article 3 (General Definitions) and is relevant for the application of Articles

1 (General Scope), 4 (Resident), 10 (Dividends), 17 (Pensions, Social Security, Annuities, Alimony, and Child Support), 18 (Pension

Funds), and 22 (Limitation on Benefits) of the Treaty. Paragraph 1(k) of Article 3 of the Treaty states in relevant part that a pension

fund means:

any person established in a Contracting State that is:

i) in the case of pension funds established in the United States, generally exempt from income taxation, and in the case of pension

funds established in Malta, a licensed fund or scheme subject to tax only on income derived from immovable property situated in

Malta; and

ii) operated principally either:

A) to administer or provide pension or retirement benefits; or

) to earn income for the benefit of one or more persons meeting the requirements of subparagraph i) and clause A) of this subB

paragraph.

Under paragraph 3 of Article 25 of the Treaty, the competent authorities may resolve by mutual agreement any difficulties or doubts

arising as to the interpretation or application of the Treaty.

The competent authorities confirm that a fund, scheme or arrangement established in a Contracting State that, except in the case of a

qualified rollover from a pension fund established in the same Contracting State,

(a) is allowed to accept contributions from a participant in a form other than cash, or

( b) does not limit contributions by reference to earned income from personal services (including self-employment) of the participant or the participant’s spouse,

is not operated principally to administer or provide pension or retirement benefits within the meaning of paragraph 1(k) of Article 3

of the Treaty, and is therefore not a “pension fund”. The competent authorities therefore also confirm that distributions from this type

December 27, 2021

912

Bulletin No. 2021–52

of fund, scheme or arrangement are not “pensions or other similar remuneration” in consideration of past employment for purposes

of paragraph 1(b) of Article 17 of the Treaty. This type of fund, scheme, or arrangement includes a personal retirement scheme established in Malta under the Retirement Pensions Act of 2011.

Accordingly, U.S. citizens and residents may not claim benefits under paragraph 1(b) of Article 17 and Article 18 of the Treaty with

respect to the type of fund, scheme or arrangement described in the paragraph immediately above, including a personal retirement

scheme established in Malta under the Retirement Pensions Act of 2011. Additionally, these funds, schemes or arrangements may not

apply paragraph 2(e) of Article 22 of the Treaty to be treated as a qualified resident and may not claim the benefits of paragraph 3 of

Article 10 of the Treaty.

The competent authorities confirm that the interpretation in this Arrangement reflects the original intent of the Contracting States

regarding the definition of “pension fund” for purposes of the Treaty.

Any fund, scheme or arrangement, or any participant thereof, established in Malta that is not described in this Arrangement, including

any fund, scheme or arrangement established pursuant to Maltese legislation enacted after the date of signature of this Arrangement,

may present its case to the U.S. or Maltese competent authority under Article 25 of the Treaty to determine whether the fund, scheme

or arrangement qualifies as a “pension fund” within the meaning of paragraph 1(k) of Article 3 of the Treaty. Any such determination

will be made only by the mutual agreement of the competent authorities.

The competent authorities will notify each other of any material changes in their respective legislation concerning retirement or pension benefits that is enacted after the date of signature of this Arrangement, provided that such changes may impact this Arrangement.

In that event, the competent authorities will discuss whether such legislative changes warrant an update to this Arrangement.

Agreed to by the undersigned competent authorities:

/s/ /s/

____________________________ _______________________________

United States Competent Authority Malta Competent Authority

Date: November 30, 2021

Bulletin No. 2021–52

913

Date: December 3, 2021

December 27, 2021

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:

Amplified describes a situation where

no change is being made in a prior published 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

applied to A, and the new ruling holds that

the same principle also applies to B, the

earlier ruling is amplified. (Compare with

modified, below).

Clarified is used in those instances

where the language in a prior ruling is

being made clear because the language

has caused, or may cause, some confusion. It is not used where a position in a

prior ruling is being changed.

Distinguished describes a situation

where a ruling mentions a previously published ruling and points out an essential

difference between them.

Modified is 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

with amplified and clarified, above).

Obsoleted describes a previously published ruling that is not considered determinative with respect to future transactions.

This term is most commonly used in a ruling

that lists previously published rulings 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.

Revoked describes situations where the

position in the previously published ruling

is not correct and the correct position is

being stated in a new ruling.

Superseded describes 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

period of time in separate rulings. If the

new ruling does more than restate the substance of a prior ruling, a combination of

terms is used. For example, modified and

superseded describes 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.

Supplemented is 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 rulings in the series.

Suspended is 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 material

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.

Bulletin No. 2021–52

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.

December 27, 2021

Numerical Finding List1

Bulletin 2021–52

Announcements:

2021-12, 2021-31 I.R.B. 267

2021-13, 2021-33 I.R.B. 314

2021-14, 2021-33 I.R.B. 315

2021-15, 2021-49 I.R.B. 846

2021-16, 2021-50 I.R.B. 872

2021-17, 2021-51 I.R.B. 889

2021-18, 2021-52 I.R.B. 910

2021-19, 2021-52 I.R.B. 912

AOD:

2021-4, 2021-47 I.R.B. 725

Notices:

2021-39, 2021-27 I.R.B. 3

2021-40, 2021-28 I.R.B. 15

2021-41, 2021-29 I.R.B. 17

2021-42, 2021-29 I.R.B. 19

2021-38, 2021-30 I.R.B. 155

2021-44, 2021-31 I.R.B. 166

2021-45, 2021-31 I.R.B. 170

2021-47, 2021-32 I.R.B. 269

2021-46, 2021-33 I.R.B. 303

2021-48, 2021-33 I.R.B. 305

2021-49, 2021-34 I.R.B. 316

2021-43, 2021-35 I.R.B. 332

2021-50, 2021-35 I.R.B. 333

2021-51, 2021-36 I.R.B. 361

2021-52, 2021-38 I.R.B. 381

2021-53, 2021-39 I.R.B. 438

2021-54, 2021-41 I.R.B. 457

2021-55, 2021-41 I.R.B. 461

2021-58, 2021-43 I.R.B. 660

2021-59, 2021-43 I.R.B. 664

2021-57, 2021-44 I.R.B. 706

2021-56, 2021-45 I.R.B. 716

2021-60, 2021-45 I.R.B. 719

2021-35, 2021-46 I.R.B. 723

2021-61, 2021-47 I.R.B. 738

2021-62, 2021-49 I.R.B. 831

2021-63, 2021-49 I.R.B. 835

2021-64, 2021-50 I.R.B. 869

2021-65, 2021-51 I.R.B. 880

2021-66, 2021-52 I.R.B. 901

Proposed Regulations:

REG-107705-21, 2021-30 I.R.B. 162

REG-102951-16, 2021-32 I.R.B. 272

REG-109077-21, 2021-39 I.R.B. 445

REG-100718-21, 2021-42 I.R.B. 653

REG-107707-21, 2021-42 I.R.B. 657

REG 117575-21, 2021-49 I.R.B. 847

REG-109128-21, 2021-51 I.R.B. 890

Revenue Procedures:

2021-28, 2021-27 I.R.B. 5

2021-29, 2021-27 I.R.B. 12

2021-24, 2021-29 I.R.B. 19

2021-14, 2021-30 I.R.B. 158

2021-30, 2021-31 I.R.B. 172

2021-31, 2021-33 I.R.B. 324

2021-33, 2021-34 I.R.B. 327

2021-34, 2021-35 I.R.B. 337

2021-35, 2021-35 I.R.B. 355

2021-36, 2021-35 I.R.B. 357

2021-37, 2021-38 I.R.B. 385

2021-38, 2021-38 I.R.B. 425

2021-39, 2021-38 I.R.B. 426

2021-40, 2021-38 I.R.B. 426

2021-41, 2021-39 I.R.B. 443

2021-32, 2021-42 I.R.B. 465

2021-44, 2021-42 I.R.B. 469

2021-42, 2021-43 I.R.B. 666

2021-46, 2021-47 I.R.B. 740

2021-45, 2021-48 I.R.B. 764

2021-47, 2021-48 I.R.B. 775

2021-48, 2021-49 I.R.B. 835

2021-49, 2021-49 I.R.B. 838

2021-50, 2021-49 I.R.B. 844

2021-43, 2021-51 I.R.B. 882

2021-52, 2021-51 I.R.B. 883

2021-53, 2021-51 I.R.B. 887

2021-54, 2021-52 I.R.B. 903

Revenue Rulings:

2021-12, 2021-27 I.R.B. 1

2021-13, 2021-30 I.R.B. 152

2021-14, 2021-31 I.R.B. 164

2021-19, 2021-42 I.R.B. 470

2021-15, 2021-35 I.R.B. 331

2021-16, 2021-36 I.R.B. 359

2021-17, 2021-37 I.R.B. 362

2021-18, 2021-40 I.R.B. 447

2021-21, 2021-44 I.R.B. 704

2021-22, 2021-47 I.R.B. 726

2021-23, 2021-49 I.R.B. 779

2021-24, 2021-50 I.R.B. 850

2021-20, 2021-51 I.R.B. 875

Treasury Decisions:

9951, 2021-30 I.R.B. 25

9952, 2021-39 I.R.B. 428

9953, 2021-39 I.R.B. 430

9956, 2021-41 I.R.B. 449

9957, 2021-41 I.R.B. 452

9955, 2021-42 I.R.B. 471

9958, 2021-49 I.R.B. 781

A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2021–27 through 2021–52 is in Internal Revenue Bulletin

2021–52, dated December 27, 2021.

December 27, 2021

Bulletin No. 2021–52

Finding List of Current Actions on

Previously Published Items1

Bulletin 2021–52

A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2021–27 through 2021–52 is in Internal Revenue Bulletin

2021–52, dated December 27, 2021.

Bulletin No. 2021–52

iii

December 27, 2021

Internal Revenue Service

Washington, DC 20224

Official Business

Penalty for Private Use, $300

INTERNAL REVENUE BULLETIN

The Introduction at the beginning of this issue describes the purpose and content of this publication. The weekly Internal Revenue

Bulletins are available at www.irs.gov/irb/.

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This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.