Interest rates; underpayments and overpayments. The rates for interest determined under section 6621 of the Code for the calendar quarter beginning April 1, 2011, 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.

Proposed regulations under section 6104(c) of the Code amend existing regulations to reflect changes made by the Pension Protection Act of 2006 (PPA) by providing guidance to states regarding the process by which they may obtain or inspect certain returns and return information (including information about final and proposed denials and revocations of tax-exempt status) for the purpose of administering state laws governing certain tax-exempt organizations and their activities.

This notice addresses the requirements for tax exemption for qualified nonprofit health insurance issuers described in section 501(c)(29) of the Code by providing guidance on the annual filing requirement for organizations that intend to apply for recognition of exempt status as well as on the effective date of exempt status for certain applicants. The notice also includes a request for public comments.

Final regulations under section 6103 of the Code describe the circumstances by which officers and employees of the Treasury Department may disclose return information to whistleblowers and, if applicable, their legal representatives in connection with written contracts for services relating to the detection of violations of the internal revenue laws or related statutes by the IRS.