Final, temporary, and proposed regulations under section 482 of the Code provide guidance with respect to the sharing of costs and risks under cost sharing arrangements. The regulations replace the existing guidance under regulations section 1.482-7 to provide clarification and additional guidance regarding the scope and valuation of the external inputs for which arm’s length consideration must be provided as an entry condition into cost sharing (“buy-ins” under former regulations section 1.482-7), as well as to address other technical and procedural issues that have arisen in the course of administering the cost sharing rules. A public hearing on the proposed regulations is scheduled for April 21, 2009.

Final, temporary, and proposed regulations under section 482 of the Code provide guidance with respect to the sharing of costs and risks under cost sharing arrangements. The regulations replace the existing guidance under regulations section 1.482-7 to provide clarification and additional guidance regarding the scope and valuation of the external inputs for which arm’s length consideration must be provided as an entry condition into cost sharing (“buy-ins” under former regulations section 1.482-7), as well as to address other technical and procedural issues that have arisen in the course of administering the cost sharing rules. A public hearing on the proposed regulations is scheduled for April 21, 2009.

Section 382. This notice provides additional guidance regarding the application of section 382 treatment of interest in a loss corporation acquired by the federal government pursuant to the Emergency Economic Stabilization Act of 2008 (EESA). Notice 2008-100 amplified and superseded.

Substitute tax forms and schedules. Requirements are set forth for privately designed and printed federal tax forms and conditions under which the Service will accept computer prepared and computer-generated tax forms and schedules. Rev. Proc. 2007-68 superseded.