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

Rev. Rul. 97–4, page 6. Low-income housing tax credit. This ruling clarifies that section 502(e)(3) of the Tax Reform Act of 1986 does not prevent a taxpayer from claiming a low-income housing tax credit under section 42 of the Code for a building’s credit period beginning after 1995.

T.D. 8688, page 7. Final regulations under section 108 of the Code relate to the time and manner of making certain elections under the Omnibus Budget Reconciliation Act of 1993.

T.D. 8689, page 9. Final and temporary regulations under section 6695 of the Code relate to the methods of signing returns, statements, or other documents.

T.D. 8692, page 4. Final and temporary regulations under section 25 of the Code relate to the reissuance of mortgage credit certificates.

Finding Lists begin on page 17.