Bulletin No. 1997–27 July 7, 1997

recovery credit for taxable years beginning in the 1997 calendar year is determined without regard to the phase-out for crude oil price increases provided in section 43(b) of the Code.

EXEMPT ORGANIZATIONS

Announcement 97–67, page 37. A list is given of organizations now classified as private foundations.

ADMINISTRATIVE

Rev. Proc. 97–32, page 9. Reproduction of forms; Forms 1096, 1098, 1099 series, 5498, and W–2G. Requirements are set forth for reproducing paper substitutes for Forms 1096, 1098, 1099 series, 5498, and W–2G, and for furnishing substitute statements to form recipients. Rev. Proc. 96–42 superseded.