2008 Section 43 inflation adjustment factor. This notice announces the applicable inflation adjustment factor and phase-out amount for the enhanced oil recovery credit for the 2008 calendar year.

2008 marginal production rates. This notice announces the applicable percentage under section 613A of the Code to be used in determining percentage depletion for marginal properties for the 2008 calendar year.

Charitable contributions of inventory property under section 170(e)(3) of the Code. This notice announces that the Service and the Treasury Department intend to issue guidance under section 170(e) that will allow a taxpayer making a qualified contribution to compute the deductible amount and adjustment to cost of goods sold either under the special rules applicable to qualified contributions under section 170(e)(3) or under the general rules applicable to contributions under section 170(e)(1). The notice also provides that, pending the issuance of further guidance, the Service will not challenge a taxpayer that makes the computation under either set of rules provided all other applicable requirements are met.

This notice announces that a controlled foreign corporation (CFC) may choose to exclude certain obligations held by the CFC from the definition of the term “United States property” for purposes of section 956 of the Code.

Insurance-dedicated money market funds. This notice provides guidance that an insurance-dedicated money market fund’s participation in Treasury’s Temporary Guarantee Program for Money Market Funds won’t result in a violation of the section 817(h) diversification requirements in the case of a segregated asset account that invests in the insurance-dedicated money market fund.

This procedure informs all taxpayers who hold a surety bond or a Treasury Direct Account (TDA) pursuant to former section 42(j)(6) of the Code how to make the election, allowed by section 3004(i)(2)B)(ii) of the Housing Assistance Tax Act of 2008, to discontinue the surety bond or TDA.

Weighted average interest rate update; corporate bond indices; 30-year Treasury securities; segment rates. This notice contains updates for the corporate bond weighted average interest rate for plan years beginning in October 2008; the 24-month average segment rates; the funding transitional segment rates applicable for October 2008; and the minimum present value transitional rates for September 2008.

Final, temporary, and proposed regulations under sections 170, 507, 509, 6033, and 6043 of the Code affect tax-exempt organizations required to file an annual return under section 6033. The regulations provide guidance relating to the computation of public support, new procedures for organizations seeking classification as public charities, and guidance regarding the reporting of other information required on the annual return.

Final, temporary, and proposed regulations under sections 170, 507, 509, 6033, and 6043 of the Code affect tax-exempt organizations required to file an annual return under section 6033. The regulations provide guidance relating to the computation of public support, new procedures for organizations seeking classification as public charities, and guidance regarding the reporting of other information required on the annual return.

The IRS has revoked its determination that Northern California Housing of Stockton, CA; 1st United Charitable Trust of Glendale, AZ; HarrisWelburn Company of Upper Marlboro, MD; Bond Endowment Fund, Inc., of Timonium, MD; and Northern Lights Jr. Drum & Bugle Corps Association of Vancouver, WA, qualify as organizations described in sections 501(c)(3) and 170(c)(2) of the Code.

Insurance-dedicated money market funds. This notice provides guidance that an insurance-dedicated money market fund’s participation in Treasury’s Temporary Guarantee Program for Money Market Funds won’t result in a violation of the section 817(h) diversification requirements in the case of a segregated asset account that invests in the insurance-dedicated money market fund.

This document cancels a public hearing on proposed regulations (REG-143453-05, 2008-32 I.R.B. 310) under section 179B of the Code relating to the deduction of qualified capital costs paid or incurred by a small business refiner to comply with the highway diesel fuel sulfur control requirements of the Environmental Protection Agency.

This document provides notice of a public hearing on October 30, 2008, on proposed regulations (REG-103146-08, 2008-37 I.R.B. 701) relating to the return and information statement requirements under section 6039 of the Code. The regulations reflect changes to section 6039 made by section 403 of the Tax Relief and Health Care Act of 2006. The regulations affect corporations that issue statutory stock options and provide guidance to assist corporations in complying with the return and information statement requirements under section 6039.