Final regulations under section 1221(b)(3) of the Code provide the time and manner rules for electing to treat the sale or exchange of a musical composition or a copyright in a musical work created by the taxpayer (or received by the taxpayer from the composition or work’s creator in a transferred basis transaction) as the sale or exchange of a capital asset.

This announcement advises the public that expenses for breast pumps and supplies that assist lactation may be deducted as medical expenses or reimbursed under a flexible spending arrangement or similar plan.

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 February 2011; the 24-month average segment rates; the funding transitional segment rates applicable for February 2011; and the minimum present value transitional rates for January 2011.

The IRS has revoked its determination that Arid Lands Project of North Haven, ME; Christian Credit Counselors International, Inc., of Santa Ana, CA; Consumer Credit Protection Agency, Inc., of Tampa, FL; Falls Consumer Credit Management, Inc., of Akron, OH; Falls Consumer Credit Management, Inc., of Saint Clairsville, OH; Gullahorn Family Supporting Organization of Naples, FL; International Vision, Inc., of Washington, DC; Riverview Athletic Association, Inc., of Omaha, NE; Rising Stars Community Services, Inc., of Houston, TX; RFD Communications, Inc., of Omaha, NE; Revive Credit Counseling, Inc., of Santa Monica, CA; Neighborcare International, Inc., of Fairfield Grade, TN; Mexican American Research Center of Austin, TX; Modern Day Veterans 304 Chapter of Licking, MO; Modern Day Veterans 203 Chapter of Marble Hill, MO; Care of Crow Wing County of Brainerd, MN; Northwest Conservation Stewardship Fund of Seattle, WA; and Panhandle Land Conservancy, Inc., of Destin, FL, qualify as organizations described in sections 501(c)(3) and 170(c)(2) of the Code.

This announcement contains a correction to final regulations (T.D. 9391, 2008-1 C.B. 945) providing rules under section 937(b) of the Code for determining whether income is derived from sources within a U.S. possession or territory specified in section 937(a)(1) (generally referred to in this preamble as a “territory”) and whether income is effectively connected with the conduct of a trade or business within a territory as well as providing guidance under section 932 and other provisions related to the territories.