This notice provides additional transition relief with respect to the use of debit cards for medical expense reimbursements at stores with the Drug Stores and Pharmacies merchant category code. Notice 2007-2 modified.

This notice clarifies Notice 2001-16, 2001-1 C.B. 730, and supersedes Notice 2008-20, 2008-6 I.R.B. 406, regarding Intermediary Transaction Tax Shelters. A transaction is treated as an Intermediary Transaction with respect to a particular person only if that person engages in the transaction pursuant to a plan, the transaction contains the four objective components indicative of an Intermediary Transaction, and no safe harbor exception applies to that person. Notice 2001-16 clarified. Notice 2008-20 superseded.

Proposed regulations address the calculation of amounts includible in income under section 409A(a) of the Code and the additional taxes imposed by such section with respect to a service provider participating in a nonqualified deferred compensation plan if such plan fails to meet the requirements of section 409A(a). A public hearing is scheduled for April 2, 2009.

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 December 2008; the 24-month average segment rates; the funding transitional segment rates applicable for December 2008; and the minimum present value transitional rates for November 2008.

This notice provides taxpayers the ability to correct certain operational failures to comply with section 409A of the Code, or to limit the amount of additional taxes due to a failure to comply with section 409A. Section 409A provides rules governing the taxation of nonqualified deferred compensation plans. Notices 2006-100 and 2007-89 modified. Notice 2007-100 obsoleted.

This notice provides tables that show the amount of an individual's wages, salary, or other income that is exempt from a notice of levy used to collect delinquent tax in 2009.

Biodiesel tax incentive; cellulosic biofuel producer credit. For purposes of the tax incentives for biodiesel under sections 40A, 6426, and 6427(e) of the Code, a liquid must meet the standard set in ASTM D6751. ASTM International, the private organization that defines that standard, issued a revised standard effective October 13, 2008. This notice provides transitional relief for biodiesel on hand that was produced under the old ASTM D6751 standard. Separately, this notice provides rules for registration of producers of cellulosic biofuel.

This document provides notice of a public hearing on proposed regulations (REG-140029-07, 2008-40 I.R.B. 828) relating to the substantiation and reporting requirements for cash and noncash charitable contributions under section 170 of the Code. The regulations reflect the enactment of provisions of the American Jobs Creation Act of 2004 and the Pension Protection Act of 2006. The regulations provide guidance to individuals, partnerships, and corporations that make charitable contributions, and will affect any donor claiming a deduction for a charitable contribution after the date these regulations are published as final regulations in the Federal Register. The public hearing is scheduled for January 23, 2009.