Interest rates; underpayments and overpayments. The rates of interest determined under section 6621 of the Code for the calendar quarter beginning January 1, 2009, will be 5 percent for overpayments (4 percent in the case of a corporation), 5 percent for underpayments, and 7 percent for large corporate underpayments. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 will be 2.5 percent.

This notice provides guidance to employers and payers on their reporting and wage withholding requirements for calendar year 2008 with respect to deferrals of compensation and amounts includible in gross income under section 409A of the Code. In addition, this notice provides guidance to service providers on their income tax reporting and tax payment requirements with respect to amounts includible in gross income under section 409A. Notice 2005-1 modified.

This notice extends to taxable years that begin before January 1, 2009, the interim guidance provided in Notice 2008-32, 2008-11 I.R.B. 593, on the treatment under section 67 of the Code of investment advisory costs and other costs subject to the 2-percent floor under section 67(a) that are integrated as part of one commission or fee paid to the trustee or executor and are incurred by a trust other than a grantor trust or an estate. Notice 2008-32 modified and superseded.

Section 305. This procedure provides temporary guidance regarding section 305 treatment of a stock distribution by a publicly traded real estate investment (REIT) trust in which the shareholders have an election to receive money or stock, subject to an aggregate limitation on the amount of money to be distributed.

The IRS has revoked its determination that Peterson Family Foundation of Salt Lake City, UT; A1 Credit Counseling, Inc., of Ft. Smith, AR; Nat Turner Legal Defense Fund of Garland, TX; SOFLO Ballet, Inc., of Miramar, FL; Family Health Services, Inc., of Bellefonte, PA; Hometown Heroes Memorial Organization, Inc., of Landrum, SC; ClearADebt, Inc., of Dania, FL; Rapid Hope International of Hurst, TX; Spanish Community of Yonkers, NY; All Terrier Rescue Hunters Crossing of Aloha, OR; Women Helping Women of Houston, TX; Safe Haven Homes, Inc., of Hartland, MI; AJH Housing of St. Louis, MO; Restoration & Reconciliation Outreach, Inc., of Miami, FL; Williams Peurifoy Personal Care Home, Inc., of Philadelphia, PA; and Capital Gymnastics Booster Club, Inc., of Springfield, GA, qualify as organizations described in sections 501(c)(3) and 170(c)(2) of the Code.

This document provides a copy of the Memorandum of Understanding Between the Competent Authorities of the Federal Republic of Germany and the United States of America regarding the arbitration process set forth in the United States-Germany Income Tax Convention.

This document provides guidelines regarding the arbitration process set forth in the United States-Germany Income Tax Convention as amended by the Protocol signed on June 1, 2006. These guidelines relate to the Memorandum of Understanding Between the Competent Authorities of the Federal Republic of Germany and the United States of America signed on December 8, 2008.

This document contains a correction to final and temporary regulations (T.D. 9430, 2008-48 I.R.B. 1205) relating to information returns for cancellation of indebtedness by certain entities. The regulations will avoid premature information reporting from certain businesses that are currently required to report and will reduce the number of information returns required to be filed. The regulations will impact certain lenders who are currently required to file information returns under the existing regulations.

This document contains a correction to temporary regulations (T.D. 7964, 1984-2 C.B. 263) relating to tax shelter registration. Changes to the applicable tax law were made by the Tax Reform Act of 1984. The regulations affect organizers, sellers, investors, and certain other persons associated with investments that are considered tax shelters.