Excerpt:

INCOME TAX
Rev. Rul. 2007–57, page 531.
Federal rates; adjusted federal rates; adjusted federal
long-term rate and the long-term exempt rate. For purposes
of sections 382, 642, 1274, 1288, and other sections
of the Code, tables set forth the rates for September 2007.
T.D. 9340, page 487.
Final regulations provide updated guidance on tax-shelter
annuities, custodial accounts of public schools and section
501(c)(3) tax-exempt organizations, and church retirement
income accounts, authorized under section 403(b) of the
Code. The regulations provide the public with the guidance
necessary to comply with the law and will affect sponsors
of section 403(b) contracts, administrators, participants and
beneficiaries. The regulations also provide guidance relating
to the controlled group rules under section 414(c) for entities
that are tax-exempt under section 501(a).
T.D. 9343, page 533.
Final regulations under section 1502 of the Code allow the Service
to appoint a domestic substitute agent for a consolidated
group when the group’s parent is a foreign corporation that is
treated as a domestic corporation under section 7872 or as
the result of a section 953(d) election.
T.D. 9344, page 535.
REG–148951–05, page 550.
Final, temporary, and proposed regulations under section 7425
of the Code relate to discharge of liens and return of wrongfully
levied property under section 6343. The regulations clarify that
notices and claims are to be sent to the IRS office and official
specified in the relevant IRS publications.

Notes:

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