This Week’s Internal Revenue Bulletin

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.

ADMINISTRATIVE

REG-106203-23, page 1143. Tax return preparers must use a preparer tax identification number (PTIN) on returns they prepare for compensation. The PTIN must be renewed annually. The IRS charges a user fee on each PTIN application or application for renewal to recover costs for issuing and renewing PTINs. The IRS has recalculated the PTIN user fee and determined the full cost for each application or application for renewal is $11, plus an amount payable directly to a third-party contractor. These regulations therefore propose to decrease the current PTIN user fee of $21 to $11, plus an amount payable directly to the third-party contractor. REG-106203-23. Published October 4, 2023.

Rev. Proc. 2023-28, page 1092. General Rules and Specifications for Substitute Forms and Schedules

This procedure provides guidelines and general requirements for the development, printing, and approval of the 2023 substitute tax forms. This procedure will be reproduced as the next revision of Publication 1167. Rev. Proc. 2022-31 is superseded.

T.D. 9980, page 1087. Tax return preparers must use a preparer tax identification number (PTIN) on returns they prepare for compensation. The PTIN must be renewed annually. The IRS charges a user fee on each PTIN application or application for renewal to recover costs for issuing and renewing PTINs. The IRS has recalculated the PTIN user fee and determined the full cost for each application or application for renewal is $11, plus an amount payable directly to a third-party contractor. These interim final regulations therefore decrease the current PTIN user fee of $21 to $11, plus an amount payable directly to the third-party contractor. TD 9980. Published October 4, 2023.

INCOME TAX

REG-113064-23, page 1144. These proposed regulations would provide guidance for elections to transfer clean vehicle credits under §§30D(g) and 25E(f), as established by the Inflation Reduction Act of 2022 (IRA). The proposed regulations provide guidance for taxpayers intending to transfer the previously-owned clean vehicle credit and the new clean vehicle credit to dealers who are entities eligible to receive advance payments of either credit. The proposed regulations also provide guidance for dealers to become eligible entities to receive advance payments of new or previously-owned clean vehicle credits. The proposed regulations also provide guidance for the recapturing of the credit under §30D and 25E. Finally, proposed §1.6213-2 defines the omission of a correct VIN for purposes of §6213.

Rev. Proc. 2023-33, page 1135. This revenue procedure sets forth the procedures under §§30D(g) and 25E(f) of the Code for the transfer of the clean vehicle credit and previously-owned clean vehicle credit from the taxpayer to an eligible entity, including the procedures for dealer registration with the Internal Revenue Service (IRS), the procedures for the suspension and revocation of that registration, and the establishment of an advance payments program to registered dealers. This revenue procedure also supersedes sections 5.01 and 6.03 of Rev. Proc. 2022-42, 2022-52 I.R.B. 565, providing new information for the timing and manner of submission of seller reports, respectively; as well as sections 6.01 and 6.02 of Rev. Proc. 2022-42, providing updated information on submission of written agreements by manufacturers to the IRS to be considered qualified manufacturers, as well as the method of submission of monthly reports by qualified manufacturers.