Final regulations under section 1561 of the Code provide guidance to corporations that are component members of a controlled group of corporations and to consolidated groups filing life-nonlife Federal income tax returns. The regulations also provide guidance to component members regarding the apportionment of tax benefit items and the amount and type of information they are required to submit with their returns.

Proposed regulations under section 6045 of the Code provide rules for stockbrokers regarding changes in the law that require them to report for certain sales the adjusted basis of the stock being sold and whether any gain or loss with respect to the sale is long-term or short-term. The regulations under section 1012 of the Code address changes in the law that alter how investors compute basis when averaging the basis of shares acquired at different prices and that expand the ability of investors to compute basis by averaging. The regulations under sections 6045A, 6045B, 6721, and 6722 of the Code address new reporting requirements imposed on issuers of securities for corporate actions that affect the securities’ basis and on brokers (including custodians and issuers of securities) for transfers of securities. A public hearing is scheduled for February 17, 2010. Rev. Rul. 67-436 obsoleted.

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 January 2010; the 24-month average segment rates; the funding transitional segment rates applicable for January 2010; and the minimum present value transitional rates for December 2009.

The IRS has revoked its determination that Coinmach Disaster Relief Fund Trust of Plainview, NY; Five Rivers Community Development Corporation of Georgetown, SC; Interfaith Adopt-A-Building of New York, NY; Jeffrey and Sara Brunken Family FDN of Salt Lake City, UT; Newton County Community Center, Inc., of Covington, GA; The Hemp & Cannabis Foundation of Portland, OR; and Nuestra Sra De La Ribida-USA Auxiliary Service, Inc., of Tamarac, FL, qualify as organizations described in sections 501(c)(3) and 170(c)(2) of the Code.

Proposed regulations under section 6045 of the Code provide rules for stockbrokers regarding changes in the law that require them to report for certain sales the adjusted basis of the stock being sold and whether any gain or loss with respect to the sale is long-term or short-term. The regulations under section 1012 of the Code address changes in the law that alter how investors compute basis when averaging the basis of shares acquired at different prices and that expand the ability of investors to compute basis by averaging. The regulations under sections 6045A, 6045B, 6721, and 6722 of the Code address new reporting requirements imposed on issuers of securities for corporate actions that affect the securities’ basis and on brokers (including custodians and issuers of securities) for transfers of securities. A public hearing is scheduled for February 17, 2010. Rev. Rul. 67-436 obsoleted.