The Eighteenth Annual Institute on Current Issues in International Taxation, jointly sponsored by the Internal Revenue Service and The George Washington University Law School, will be held on December 8 and 9, 2005, at the J.W. Marriott Hotel in Washington, DC.

2005 base period T-bill rate. The “base period T-bill rate” for the period ending September 30, 2005, is published as required by section 995(f) of the Code.

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 November 2005.

Form 8884, New York Liberty Zone Business Employee Credit, is obsolete as of December 31, 2004. As a result, any carryforward credit from Form 8884 is now reported in Section B of Form 8835, Renewable Electricity, Refined Coal, and Indian Coal Production Credit.

2006 cost-of-living adjustments; retirement plans, etc. This notice sets forth certain cost-of-living adjustments effective January 1, 2006, applicable to the dollar limits on benefits under qualified defined benefit pension plans and to other provisions affecting (1) certain plans of deferred compensation and (2) “control employees.” This notice restates the data in News Release IR-2005-120 issued October 14, 2005.

Delta Regional Transit System, Inc., of Greenville, MS; Gibson Trust, Inc., of Hollywood, FL; Housing Development Group, Inc., of Providence, RI; and National Credit Education and Review, of Canton, MI, no longer qualify as organizations to which contributions are deductible under section 170 of the Code.

A list is provided of organizations now classified as private foundations.

Proposed regulations under section 7701 of the Code explain that certain disregarded entities (qualified subchapter S subsidiaries and single owner eligible entities) are to be treated as entities separate from their owners for purposes of paying and reporting federal employment and certain excise taxes.

Proposed regulations under section 7701 of the Code explain that certain disregarded entities (qualified subchapter S subsidiaries and single owner eligible entities) are to be treated as entities separate from their owners for purposes of paying and reporting federal employment and certain excise taxes.

REG–114444–05

Final, temporary, and proposed regulations under section 7804 of the Code amend 26 CFR Part 801 to clarify when quantity measures, which are not tax enforcement results, may be used in measuring organizational and employee performance.