Bulletin No. 1996–47 November 18, 1996

ADMINISTRATIVE

Rev. Proc. 96–51, page 10. Low-income housing tax credit. This procedure publishes the amounts of unused housing credit carryovers allocated to qualified states under section 42(h)(3)(D) of the Code for calendar year 1996 in addition to those published in Rev. Proc. 96–46, 1996–38 I.R.B. 144. This procedure also publishes the total amounts of unused housing credit carryovers allocated to qualified states under section 42(h)(3)(D) for calendar year 1996. Rev. Proc. 96–46 supplemented.

Notice 96–56, page 7. This notice shows the amount that is exempt from levy on an individual’s wages, salary, and other income under section 6334(d) of the Code.

Notice 96–57, page 9. Information reporting; Indian tribal casinos. The reporting requirements for cash transactions of more than $10,000, from gaming activities of certain Indian tribal casinos, are clarified.

Announcement 96–121, page 12. The Treasury Department and the IRS are soliciting comments on issues to be considered in developing guidance under the newly enacted FASIT provisions of the Code.

Announcement 96–122, page 13. The 1996 update and future quarterly updates of Publication 938, Real Estate Mortgage Investment Conduits (REMICs) Reporting Information (And Other Collateralized Debt Obligations (CDOs)), will be available only on the Internet and the IRS Electronic Bulletin Board.