Refund of taxes unlawfully assessed; administrative claim. The Supreme Court holds that the plain language of 26 U.S.C. sections 7422(a) and 6511 requires a taxpayer seeking a refund for a tax assessed in violation of the export clause, just as for any other unlawfully assessed tax, to file a timely administrative refund claim before bringing suit against the government. United States v. Clintwood Elkhorn Mining Co.et.al.

Proposed regulations under sections 367(a)(5), 367(b), and 1248(f) of the Code concern certain cross-border asset reorganizations and nonrecognition distributions of the stock of certain foreign corporations by domestic corporations. The regulations incorporate Notices 2008-10 and 87-64.

Section 382. This notice provides guidance regarding capital contributions under section 382(l)(1) of the Code and requests comments on the subject.

This notice provides guidance relating to a temporary program being provided by the Treasury Department to enable money market funds to maintain stable $1.00 per share net asset values. The notice provides that the Treasury Department and the Service will not assert that the program violates the restrictions against federal guarantees of tax-exempt bonds with respect to any tax-exempt bond assets held by tax-exempt money market funds participating in the program, and will not impair the ability of a money market fund participating in the program to designate exempt interest dividends or of the shareholders of such a fund to claim the benefits of tax exemption with respect to such exempt interest dividends.

This notice provides guidance on section 114 of the Heroes Earnings Assistance and Relief Act of 2008, which amended section 125 of the Code to provide a special rule allowing distributions of unused amounts in a health Flexible Spending Arrangement (FSA) to reservists called up to active duty.

Section 382. This notice provides guidance regarding section 382 of the Code in the case of certain acquisitions made by the United States.

This procedure provides federal income tax guidance to taxpayers for certain settlement offers involving auction rate securities.

The IRS has revoked its determination that Heavens Hand Foundation of McCordsville, IN; Airport Working Group of Orange County of Newport Beach, CA; and Portland Fathering Center of Portland, OR, qualify as organizations described in sections 501(c)(3) and 170(c)(2) of the Code.

This procedure publishes the amounts of unused housing credit carryovers allocated to qualified states under section 42(h)(3)(D) of the Code for calendar year 2008.

This procedure provides optional rules for deeming substantiated the amount of certain business expenses of traveling away from home reimbursed to an employee or deductible by an employee or self-employed individual. Rev. Proc. 2007-63 superseded.