[Federal Register Volume 72, Number 147 (Wednesday, August 1, 2007)]
[Rules and Regulations]
[Page 41891]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-14823]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9349]
RIN 1545-BF01


Employee Benefits--Cafeteria Plans

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Removal of temporary regulations.

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SUMMARY: This document removes the temporary regulations pertaining to 
benefits that may be offered to participants under a section 125 
cafeteria plan. The temporary regulations were published in the 
Federal Register on February 4, 1986. Guidance issued by the 
IRS and the Treasury Department under section 125 have made these 
temporary regulations obsolete.

DATES: Effective Dates: These regulations are effective August 1, 2007.

FOR FURTHER INFORMATION CONTACT: Mireille Khoury at (202) 622-6080 (not 
a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    On February 4, 1986, the IRS and Treasury Department published 
temporary regulations on section 125. The temporary regulations were 
published in the Federal Register (TD 8073; 51 FR 4318) as section 
1.125-2T. A notice of proposed rulemaking issued under section 125 
(REG-142695-05) and other guidance issued by the IRS and the Treasury 
Department under section 125 have made these temporary regulations 
obsolete. The temporary regulations are removed.

Special Analyses

    It has been determined that this removal of temporary regulations 
is not a significant regulatory action as defined in Executive Order 
12866. Therefore, a regulatory assessment is not required. It also has 
been determined that section 553(b) of the Administrative Procedure Act 
(5 U.S.C. chapter 5) does not apply to this removal of temporary 
regulations. This removal of temporary regulations does not impose a 
collection of information on small entities, thus the Regulatory 
Flexibility Act (5 U.S.C. chapter 6) does not apply. Pursuant to 
section 7805(f) of the Internal Revenue Code, the preceding temporary 
regulations were submitted to the Chief Counsel for Advocacy of the 
Small Business Administration for comment on its impact on small 
business.

Drafting Information

    The principal author of this removal of temporary regulations is 
Mireille Khoury, Office of Division Counsel/Associate Chief Counsel 
(Tax Exempt and Government Entities). However, personnel from Treasury 
participated in its development.

List of Subjects in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

Amendments to the Regulations

0
Accordingly, 26 CFR part 1 is amended as follows:
0
Paragraph 1. The authority citation for part 1 continues to read in 
part, as follows:

    Authority: 26 U.S.C. 7805 * * *


Sec.  1.125-2T  [Removed]

0
Par. 2. Section 1.125-2T is removed.

Kevin M. Brown,
Deputy Commissioner for Services and Enforcement.
    Approved: July 24, 2007.
Eric Solomon,
Assistant Secretary (Tax Policy).
 [FR Doc. E7-14823 Filed 7-31-07; 8:45 am]
BILLING CODE 4830-01-P