Bulletin No. 1996–49 December 2, 1996

of 1996 (“HIPAA”), Code section 6039F, as added by HIPAA, and Code sections 1494 and 6048, as amended by the Small Business Job Protection Act of 1996. Certain filings under Code sections 877, 6039F, and 6048 will not be required to be submitted, and no penalty will be imposed under Code section 1494(c), before a date that is at least 60 days after the issuance of the forthcoming guidance.

Notice 96–61, page 8. Information reporting; discharge of indebtedness. Pending issuance of further guidance, no penalties will be imposed for failure to report under Code section 6050P a discharge of indebtedness of a foreign debtor held by foreign offices or branches of foreign financial institutions that are applicable entities under Code section 6050P(c)(2)(C).

Notice 96–62, page 8. Information reporting; substitute Forms 1099; logos. Payors required to report certain payments on Form 1099 are informed that the Service intends to issue regulations permitting the use of certain logos and identifying slogans on substitute Forms 1099, and that the Service is requesting comment on this matter.

Announcement 96–124, page 22. The Service announces the publication of Rev. Proc. 96–53, informing taxpayers how to secure an advance pricing agreement from the Office of Associate Chief Counsel (International).