Revenue Procedure 2014–64 provides an updated list of jurisdictions with which the United States has in effect an income tax or other convention or bilateral agreement relating to the exchange of information for purposes of the bank deposit interest reporting requirements under §§ 1.6049–4(b)(5) and 1.6049–8(a), as well as jurisdictions with which the IRS and Treasury have determined the automatic exchange of such information is appropriate.

Reallocation of Section 48B Credits under the Qualifying Gasification Project Program. This notice establishes section 48B Phase III of the qualifying gasification project program to reallocate the section 48B Phase I credits that are available for allocation after the conclusion of the section 48B Phase I program.

Section 6038D of the Internal Revenue Code, added by the Hiring Incentives to Restore Employment (HIRE) Act, Public Law 111–147 (124 Stat. 71), requires foreign financial assets to be reported to the Internal Revenue Service for taxable years beginning after March 18, 2010. These regulations provide guidance relating to the requirement that individuals attach a statement to their income tax return to provide required information regarding foreign financial assets in which they have an interest.

This notice sets forth updates on the corporate bond monthly yield curve, the corresponding spot segment rates for November 2014 used under § 417(e)(3)(D), the 24-month average segment rates applicable for December 2014, and the 30-year Treasury rates. These rates reflect the application of § 430(h)(2)(C)(iv), which was added by the Moving Ahead for Progress in the 21st Century Act, Public Law 112–141 (MAP–21) and amended by section 2003 of the Highway and Transportation Funding Act of 2014 (HATFA).

This revenue procedure updates Revenue Procedure 2009–44, 2009–2 C.B. 462, incorporating provisions of Announcements 2008–111 and 2011–6 relating to mediation, to expand and clarify the types of examination and collection cases and issues in the Appeals administrative process that are eligible for mediation pursuant to section 7123(b)(1) of the Internal Revenue Code.

Optional standard mileage rates. This notice announces 57.5 cents as the optional standard mileage rate for substantiating the amount of the deduction for the business use of an automobile, 14 cents as the optional rate for use of an automobile as a charitable contribution, and 23 cents as the optional rate for use of an automobile as a medical or moving expense for 2015. The notice also provides the amount a taxpayer must use in calculating reductions to basis for depreciation taken under the business standard mileage rate and the maximum standard automobile cost for automobiles under a FAVR allowance.