Notice 97 31 2026

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Notice 97-31 provides interim guidance on qualified long-term care services and insurance contracts under the Internal Revenue Code. It defines key terms related to chronic illness, outlines safe harbors for determining eligibility for long-term care benefits, and addresses consumer protection provisions for insurance contracts. The notice aims to facilitate the operation of the insurance market while awaiting more definitive regulations and invites public comments on its application.

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Click ‘Get Form’ to open notice 97 31 in the editor.
Begin by reviewing the summary section, which outlines the key components of long-term care services and insurance. Familiarize yourself with terms like 'chronically ill individual' and 'activities of daily living (ADLs)'.
Fill in your personal information in the designated fields, ensuring accuracy for proper identification.
In the section regarding ADLs, indicate any assistance required by checking the appropriate boxes that apply to your situation.
If applicable, provide details about your long-term care insurance policy, including policy number and coverage specifics.
Review all entries for completeness and correctness before saving or submitting the form.

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What is the IRS definition of chronically ill?

(A)The term chronically ill individual means any individual who has been certified by a licensed health care practitioner as (i)being unable to perform (without substantial assistance from another individual) at least 2 activities of daily living for a period of at least 90 days due to a loss of functional capacity,

What is Section 31 of the Internal Revenue Code?

The amount withheld as tax under chapter 24 shall be allowed to the recipient of the income as a credit against the tax imposed by this subtitle. The amount so withheld during any calendar year shall be allowed as a credit for the taxable year beginning in such calendar year.

Why is the IRS sending out notices?

A notice may reference changes to a taxpayers account, taxes owed, a payment request or a specific issue on a tax return. Taking prompt action could minimize additional interest and penalty charges.

What is IRS notice 97-31?

This notice provides interim guidance relating to qualified long-term care services and qualified long-term care insurance contracts under sections 213, 7702B, and 4980C of the Internal Revenue Code. It is effective pending the publication of proposed regulations or other guidance.

What is a notice to IRS of foreclosure sale?

A Notice of Sale is a document or documents used by the foreclosing party to inform the Internal Revenue Service (IRS) of a nonjudicial foreclosure sale. It allows the IRS to identify what, if any, interest the United States has in the property being sold.

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