Interest rates; underpayments and overpayments. The rates of interest determined under section 6621 of the Code for the calendar quarter beginning April 1, 2009, will be 4 percent for overpayments (3 percent in the case of a corporation), 4 percent for underpayments, and 6 percent for large corporate underpayments. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 will be 1.5 percent.

Low-income housing tax credit; private activity bonds. Resident populations of the 50 states, the District of Columbia, Puerto Rico, and the insular areas are provided for purposes of determining the 2009 calendar year (1) state housing credit ceiling under section 42(h) of the Code, (2) private activity bond volume cap under section 146, and (3) private activity bond volume limit under section 142(k).

The IRS has revoked its determination that Homebuyer Gift Charity, Inc., of Greensburg, PA, qualifies as an organization described in sections 501(c)(3) and 170(c)(2) of the Code.

A list is provided of organizations now classified as private foundations.

Proposed regulations under section 4481 of the Code provide guidance on mandatory electronic filing of Form 2290, “Heavy Highway Vehicle Use Tax Return,” for 25 or more vehicles; credits or refunds for sold, destroyed or stolen vehicles; and paying tax on the use of certain second-hand vehicles.

This document contains a correction to final regulations (T.D. 9446, 2009-9 I.R.B. 607) under section 367(a) of the Code concerning gain recognition agreements filed by United States persons with respect to transfers of stock or securities to foreign corporations.