This notice lists the population census tracts the Secretary of the Treasury designates as qualified opportunity zones.

Beginning of Construction for the Investment Tax Credit under Section 48. Notice 2018–59 provides two methods for taxpayers to establish the beginning of construction (Physical Work Test and Five Percent Safe Harbor), a Continuity Requirement for both methods, rules for transferring energy property, and additional rules applicable to the beginning of construction requirement of § 48.

The Office of Professional Responsibility (OPR) announces recent disciplinary sanctions involving attorneys, certified public accountants, enrolled agents, enrolled actuaries, enrolled retirement plan agents, and appraisers. These individuals are subject to the regulations governing practice before the Internal Revenue Service (IRS), which are set out in Title 31, Code of Federal Regulations, Part 10, and which are published in pamphlet form as Treasury Department Circular No. 230. The regulations prescribe the duties and restrictions relating to such practice and prescribe the disciplinary sanctions for violating the regulations.

The Internal Revenue Service is continuing its program of reviewing revenue rulings published in the Internal Revenue Bulletin to identify and publish lists of those rulings that are no longer considered determinative because: (1) the applicable statutory provisions or regulations have been changed or repealed; (2) the ruling position is specifically covered by a statute, regulation, or subsequent published position; or (3) the facts set forth no longer exist or are not sufficiently described to permit clear application of the current statute and regulations. This revenue ruling obsoletes revenue rulings that addressed issues arising under section 3121(b)(8)(B) of the Internal Revenue Code of 1954 (the 1954 Code), which provided an exemption from Federal Insurance Contributions Act for tax-exempt organizations, and section 3121(k) of the 1954 Code, which provided for a waiver of the exemption. These 1954 Code sections were amended and repealed by the Social Security Amendments of 1983, Pub. L. No. 98–21, § 102, 97 Stat. 65, 70–71 (1983).

The Internal Revenue Service is continuing its program of reviewing revenue rulings published in the Internal Revenue Bulletin to identify and publish lists of those rulings that are no longer considered determinative because: (1) the applicable statutory provisions or regulations have been changed or repealed; (2) the ruling position is specifically covered by a statute, regulation, or subsequent published position; or (3) the facts set forth no longer exist or are not sufficiently described to permit clear application of the current statute and regulations. This revenue ruling obsoletes revenue rulings that addressed issues arising under section 3121(b)(8)(B) of the Internal Revenue Code of 1954 (the 1954 Code), which provided an exemption from Federal Insurance Contributions Act for tax-exempt organizations, and section 3121(k) of the 1954 Code, which provided for a waiver of the exemption. These 1954 Code sections were amended and repealed by the Social Security Amendments of 1983, Pub. L. No. 98–21, § 102, 97 Stat. 65, 70–71 (1983).

This notice lists the population census tracts the Secretary of the Treasury designates as qualified opportunity zones.

Beginning of Construction for the Investment Tax Credit under Section 48. Notice 2018–59 provides two methods for taxpayers to establish the beginning of construction (Physical Work Test and Five Percent Safe Harbor), a Continuity Requirement for both methods, rules for transferring energy property, and additional rules applicable to the beginning of construction requirement of § 48.

Rev. Proc. 2018–35 provides a new automatic method change for certain taxpayers to change their method of accounting from applying section 263A to citrus plant replanting costs to not applying section 263A to those costs, pursuant to section 263A(d)(2)(C). Section 263A(d)(2)(C) provides that section 263A does not apply to certain costs that are paid or incurred by certain taxpayers for replanting citrus plants after the loss or damage of citrus plants. Rev. Proc. 2018–35 modifies Rev. Proc. 2018–31, 2018–22 I.R.B. 637, to provide procedures for obtaining automatic consent of the Commissioner.

The Internal Revenue Service (Service) is continuing its program of reviewing revenue rulings published in the Internal Revenue Bulletin to identify and publish lists of those rulings that are no longer considered determinative because: (1) the applicable statutory provisions or regulations have been changed or repealed; (2) the ruling position is specifically covered by a statute, regulation, or subsequent published position; or (3) the facts set forth no longer exist or are not sufficiently described to permit clear application of the current statute and regulations.

This revenue ruling obsoletes the rulings listed below. These rulings addressed issues arising under section 3121(b)(8)(B) of the Internal Revenue Code of 1954 (the 1954 Code), which provided an exemption from Federal Insurance Contributions Act (FICA) tax for tax-exempt organizations, and section 3121(k) of the 1954 Code, which provided for a waiver of the exemption. These 1954 Code sections were amended and repealed by the Social Security Amendments of 1983, Pub. L. No. 98–21, § 102, 97 Stat. 65, 70–71 (1983).

The revenue rulings listed below have been identified under the Service’s review program as no longer being determinative.

Accordingly, the following revenue rulings are hereby declared obsolete.

The Service will continue to review other revenue rulings relating to sections 3121(b)(8)(B) and 3121(k) of the 1954 Code to identify those that, for the reasons stated above, are inapplicable to future transactions. Therefore, the failure to include any particular revenue ruling in the list above should not be construed as an indication that the revenue ruling necessarily is determinative with respect to future transactions.

The principal author of this revenue ruling is Andrew Holubeck of the Office of Associate Chief Counsel (Tax Exempt and Government Entities). For further information regarding this revenue ruling, contact Andrew Holubeck at (202) 317-4774 (not a toll-free number).

This notice lists the population census tracts the Secretary of the Treasury (Secretary) designates as qualified opportunity zones (Zones).

Section 13823 of “An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for the fiscal year 2018,” P.L. 115–97, which was enacted December 22, 2017, amended the Internal Revenue Code (Code) by adding §§ 1400Z–1 and 1400Z–2. Section 1400Z–1(b)(1)(A) of the Code allows the Chief Executive Officer (CEO) of each State to nominate a limited number of population census tracts to be designated as Zones for purposes of §§ 1400Z–1 and 1400Z–2.

Revenue Procedure 2018–16, 2018–9 I.R.B. 383, provided guidance to State CEOs on the procedure for making these nominations. Section 1400Z–1(b)(1)(B) of the Code provides that after the Secretary receives notice of the nominations, the Secretary may certify the nominations and designate the nominated tracts as Zones.

Following is the complete list of all population census tracts that the Secretary designated as Zones for purposes of §§ 1400Z–1 and 1400Z–2. The Internal Revenue Service will be governed by this list in administering § 1400Z–2.