97-14069. Delegation of Authority  

  • [Federal Register Volume 62, Number 103 (Thursday, May 29, 1997)]
    [Notices]
    [Pages 29187-29188]
    From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
    [FR Doc No: 97-14069]
    
    
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    DEPARTMENT OF THE TREASURY
    
    Internal Revenue Service
    [Delegation Order No. 172 (Rev. 5)]
    
    
    Delegation of Authority
    
    AGENCY: Internal Revenue Service (IRS), Treasury.
    
    ACTION: Delegation of authority.
    
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    SUMMARY: The authority of the Commissioner of Internal Revenue to waive 
    all or part of the excise tax imposed under section 4971(f) of the 
    Internal Revenue Code (Code) with respect to liquidity shortfalls 
    within the meaning of section 412(m)(5)(E) of the Code is delegated to 
    the Director, Employee Plans Division, and may be redelegated to branch 
    chiefs within the division. The text of the delegation order appears 
    below.
    
    EFFECTIVE DATE: June 15, 1997.
    
    FOR FURTHER INFORMATION CONTACT: John H. Turner, CP:E:EP:P:2, Room 
    6702, 1111 Constitution Avenue, NW., Washington, DC 20224, (202) 622-
    6214 (not a toll-free number).
    
    Delegation Order No. 172 (Rev. 5)
    
        Effective: June 15, 1997.
        Waiver of Excise Taxes Imposed Under Section 4971 of the Internal 
    Revenue Code.
    
        Authority: To waive all or part of the 100% excise imposed under 
    section 4971(b) of the Internal Revenue Code in accordance with 
    subsection (b) of section 3002 of the Employee Retirement Income 
    Security Act of 1974 (ERISA).
    
        Delegated to: Director, Employee Plans Division.
        Redelegation: This authority may be redelegated to branch chiefs 
    within the division for waivers that are not deemed substantial. For 
    purposes of this order, a substantial waiver is a waiver of the 
    additional tax liability resulting from a computation based on an 
    accumulated funding deficiency in excess of one million dollars.
    
        Authority: To waive all or part of the excise tax imposed by 
    section 4971(f) of the Internal Revenue Code with respect to 
    liquidity shortfalls within the meaning of section 412(m)(5)(E).
    
        Delegated to: Director, Employee Plans Division.
        Redelegation: This authority may be redelegated to branch chiefs 
    within the division.
    
    
    [[Page 29188]]
    
    
        Source of Authority: Treasury Order 150-10.
    
        To the extent that the authority previously exercised consistent 
    with this order may require ratification, it is hereby affirmed and 
    ratified.
        This order supersedes Delegation Order No. 172 (Rev. 4), which was 
    effective 12-31-96.
    
        Approved: April 15, 1997.
    James E. Donelson,
    Acting Chief Compliance Officer.
    [FR Doc. 97-14069 Filed 5-28-97; 8:45 am]
    BILLING CODE 4830-01-U
    
    
    

Document Information

Effective Date:
6/15/1997
Published:
05/29/1997
Department:
Internal Revenue Service
Entry Type:
Notice
Action:
Delegation of authority.
Document Number:
97-14069
Dates:
June 15, 1997.
Pages:
29187-29188 (2 pages)
Docket Numbers:
Delegation Order No. 172 (Rev. 5)
PDF File:
97-14069.pdf