Bulletin No. 1996–39 September 23, 1996

excess benefits transactions engaged in between certain tax-exempt organizations and their disqualified persons. It also specifies the tax return form to be used in paying these taxes and prescribes the time for their payment.

Notice 96–47, page 8. Exemption from tax on corporations, certain trusts, etc. This notice describes the amendment to Code section 501(c)(4) to expressly prohibit inurement of any part of the net earnings of an entity otherwise described in that section to the benefit of any private shareholder or individual.

Notice 96–48, page 8. Publicity of information required from certain tax- exempt organizations and certain trusts. This notice describes disclosure requirements for, and increases of certain penalties on, tax-exempt organizations.

Announcement 96–96, page 41. A list is given of organizations now classified as private foundations.

Announcement 96–99, page 42. A list is provided of organizations that no longer qualify as organizations to which contributions are deductible under section 170 of the Code.

ADMINISTRATIVE

Rev. Proc. 96–48, page 10. Substitute printed, computer-prepared, and computer- generated tax forms and schedules. Requirements are set forth for privately designed and printed federal tax return forms and the conditions under which the Service will accept computer-prepared and computer-generated tax forms and schedules. Rev. Procs. 95–16 and 95–46 are superseded.

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