Section 355(e). Guidance is provided on whether, under the described facts, an acquisition and a distribution are part of a plan under section 355(e) of the Code and section 1.355-7(b) of the regulations.

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 October 2005.

Final regulations under section 6654 of the Code provide information for making payments of estimated income tax by individuals. The regulations incorporate changes made by the Tax Reform Act of 1984 and are necessary to update, clarify, and reorganize the rules and procedures under section 6654. The regulations do not impose any new requirements for taxpayers.

Section 362(e). This notice provides guidance on how to make an election under section 362(e)(2)(C) of the Code.

Proposed regulations under section 3121 of the Code amend existing regulations as to the dollar threshold amounts and time periods used to determine whether payments for 1) domestic service in a private home of the employer, 2) agricultural labor, 3) service not in the course of the employer’s trade or business, and 4) services provided by home workers described in section 3121(d)(3)(C) are wages subject to Federal Insurance Contributions Act (FICA) taxes.

Proposed regulations under section 4980G of the Code provide guidance regarding employer comparable contributions to the Health Savings Accounts (HSAs) of employees. The regulations set forth the rules for determining the applicability of the comparability rules and for determining whether an employer’s contributions satisfy the comparability rules.

U.S.-Mexico MAP Agreement regarding eligibility of fiscally transparent entities to benefits. A copy of the news release issued by the Director, International (U.S. Competent Authority), on September 19, 2005 (IR-2005-17), is set forth.

This procedure provides guidelines for requesting expedited processing of letter ruling requests for certain reorganizations and for distributions under section 355 of the Code, and clarifies the requirement that a “significant issue” be present before the Service will rule on certain transactions. Rev. Procs. 2005-1 and 2005-3 amplified.

Revised optional standard mileage rates for 2005. This announcement advises taxpayers that the Service is revising the optional standard mileage rates for business, medical, and moving expenses. Effective September 1, 2005, the business standard mileage rate is 48.5 cents per mile and the standard mileage rate for medical and moving expenses is 22 cents per mile. Rev. Proc. 2004-64 modified.

This announcement contains updates and corrections to Publication 1187, Specifications for Filing Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding, Electronically or Magnetically.