HIGHLIGHTS OF THIS ISSUE

These synopses are intended only as aids to the reader in identifying the subject matter covered. They may not be relied upon as authoritative interpretations.

INCOME TAX

REG–251520–96, page 15. Proposed regulations under section 861 of the Code relate to the tax treatment of certain transactions involving the transfer of computer programs. A public hearing will be held on March 19, 1997.

EMPLOYEE PLANS

Notice 96–59, page 10. Weighted average interest rate update. Guidelines are set forth for determining for November 1996, the weighted average interest rate and the resulting permissible range of interest rates used to calculate current liability for purposes of the full funding limitation of section 412(c)(7) of the Code as amended by the Omnibus Budget Reconciliation Act of 1987 and by the Uruguay Round Agreements Act (GATT).

Finding Lists begin on page 25. Announcements of Disbarments and Suspensions begin on page 22.