Internal Revenue Bulletin 2007-34 Weekly

Excerpt:

INCOME TAX
REG–149036–04, page 411.
Proposed regulations under section 6404 of the Code concern
the suspension of interest, penalties, additions to tax, or additional
amounts under section 6404(g) and explain the general
rules for suspension as well as exceptions to those general
rules. A public hearing is scheduled for October 11, 2007.
Notice 2007–64, page 385.
2007 Section 43 inflation adjustment factor. This notice
announces the inflation adjustment factor and phase-out
amount for the enhanced oil recovery credit for the 2007 calendar
year.
Notice 2007–65, page 386.
2007 marginal production rates. The notice announces the
applicable percentage under section 613A of the Code to be
used in determining percentage depletion for marginal properties
for the 2007 calendar year.
EMPLOYEE PLANS
T.D. 9334, page 382.
REG–142039–06, page 415.
Final, temporary, and proposed regulations under section 4965
of the Code provide guidance relating to the requirement of a
return to accompany payment of excise taxes, the time for filing
that return, and entity-level and manager-level excise taxes with
respect to prohibited tax shelter transactions to which tax-exempt
entities are parties.

Notes:

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