INCOME TAX

T.D. 9300(HTML)
Final regulations under section 6011 of the Code eliminate regulatory obstacles to the electronic filing of certain business income tax returns and other forms. Requiring signatures on attachments to a tax return, for example, can impede a taxpayer's ability to file the return electronically. The regulations provide that in a number of situations, the signature on a taxpayer's return covers attachments to that return.

T.D. 9301(HTML)
REG-152043-05(HTML)
Temporary and proposed regulations under section 63 of the Code provide rules relating to the reduction in taxable income under section 302 of the Katrina Emergency Tax Relief Act of 2005. The regulations affect taxpayers who provide housing in their principal residences to individuals displaced by Hurricane Katrina.

Notice 2007-1(HTML)
This notice permits foreign corporations engaged, or treated as engaged, in a trade or business within the United States whose tax year end is on or after September 30, 2005, and whose original tax return due date (including extensions) was on or after June 15, 2006, and on or before August 17, 2006, to elect to apply the provisions of T.D. 9281, 2006-39 I.R.B. 517, for such tax return filing period. Such taxpayers may adopt the rules provided in T.D. 9281 only if the rules are adopted in their entirety on an amended return filed within 180 days of December 18, 2006.

Notice 2007-2(HTML)
This notice provides transition relief for the use of debit cards for medical expense reimbursements at certain merchants with non-health care related merchant category codes (MCC) and addresses the use of debit cards for medical expense reimbursements at stores with the Drug Stores and Pharmacies MCC. Rev. Rul. 2003-43 modified.

Notice 2007-4(HTML)
Extension of transition relief for certain partnerships and other pass-thru entities under section 470. This notice extends to taxable years that begin before January 1, 2007, the transition relief under section 470 of the Code provided under Notice 2005-29, 2005-1 C.B. 796, and Notice 2006-2, 2006-2 I.R.B. 278, to partnerships and certain other passthru entities that are treated as holding tax-exempt use property because of the application of section 168(h)(6). Notices 2005-29 and 2006-2 modified and superseded.

Notice 2007-3(HTML)
Retirement plans; qualification, list of changes. This notice sets forth a list of changes referred to in Rev. Proc. 2005-66, 2005-2 C.B. 509, pertaining to the statutory, regulatory, and guidance changes needed for certain requests to the Service.

T.D. 9300(HTML)
Final regulations under section 6011 of the Code eliminate regulatory obstacles to the electronic filing of certain business income tax returns and other forms. Requiring signatures on attachments to a tax return, for example, can impede a taxpayer's ability to file the return electronically. The regulations provide that in a number of situations, the signature on a taxpayer's return covers attachments to that return.

Rev. Proc. 2007-11(HTML)
This procedure provides the maximum vehicle values using the special valuation rules under sections 1.61-21(d) and (e) of the regulations. These values are indexed for inflation and must be adjusted annually by referring to the Consumer Price Index (CPI).

Announcement 2007-2(HTML)
This document cancels a public hearing on proposed regulations (REG-142270-05, 2006-43 I.R.B. 791) relating to the railroad track maintenance credit determined for qualified railroad track maintenance expenditures paid or incurred by a Class II or Class III railroad and other eligible taxpayers during the taxable year.