Final regulations under section 263A of the Code relate to the definition of self-constructed property that is considered produced on a “routine and repetitive” basis in the ordinary course of a taxpayer’s trade or business for purposes of the simplified service cost method and the simplified production method provided by the regulations. For purposes of these methods, property is produced on a routine and repetitive basis only if numerous substantially identical assets are manufactured within a taxable year using standardized designs and assembly line techniques, and either the applicable recovery period of the property determined under section 168(c) is not longer than 3 years or the property is a material or supply that will be used and consumed within 3 years of being produced.

Final regulations under section 985 of the Code provide the translation rates that must be used when translating into dollars certain items and amounts transferred by a qualified business unit (QBU) to its home office or parent corporation for purposes of computing dollar approximate separate transactions method (DASTM) gain or loss.

Proposed regulations under section 901 of the Code provide guidance relating to the determination of the amount of taxes paid for purposes of section 901. A public hearing is scheduled for July 30, 2007.

This notice provides guidance with respect to the 50-percent additional first year depreciation deduction provided by section 1400N(d) of the Code for specified Gulf Opportunity Zone extension property and provides additional guidance with respect to the original use requirement. Notice 2006-77 clarified, modified, and amplified.

Weighted average interest rate update; corporate bond indices; 30-year Treasury securities. The weighted average interest rate for April 2007 and the resulting permissible range of interest rates used to calculate current liability and to determine the required contribution are set forth.

This notice sets forth guidance regarding the application of section 409A to split-dollar life insurance arrangements. This notice addresses the identification of the types of arrangements subject to section 409A, including the application of the effective date rules under section 409A. This notice also includes guidance on bringing such arrangements into compliance with section 409A, and provides certain related relief under the effective date provisions of the regulations under sections 61 and 7872 addressing split-dollar life insurance arrangements.

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

The IRS has revoked its determination that EPASA-USA, Inc., of Ridgewood, NY; Morocco and the Casbah Dance Experience, Inc., of New York, NY; ABG Housing, Inc., of Orlando, FL; The Credit Network, Inc., of Silver Spring, MD; Global Mindlink Foundation, Inc., of Coral Springs, FL; Credit Debt Solutions, Inc., of Chevy Chase, MD; Skopos Charities, Inc., of San Jose, CA; Douglas R. & Patricia B. McKinnon Charitable Supporting Organization of Tomball, TX; The Dreamhouse Charity, Inc., of Wilsonville, OR; Dads Place Ministries, Inc., of Thurmont, MD; Potomac Forum, Ltd., of Potomac, MD; Community Housing and Land Development, Inc., of San Jose, CA; and New Haven Shelter of Rancho Palos Verdes, CA, qualify as organizations described in sections 501(c)(3) and 170(c)(2) of the Code.

This notice provides guidance on the credits and payments provided for renewable diesel and renewable diesel mixtures under sections 34, 40A, 6426, and 6427 of the Code.

Electronic filing specifications. This procedure contains changes in electronic filing procedures for Form 8851, Summary of Archer MSAs. The procedure should be used for filing Forms 8851 for Tax Years 2005, 2006, and any subsequent years. Rev. Proc. 2001-31 superseded.