ADMINISTRATIVE

Rev. Proc. 97–50, page 8. Year 2000 costs; computer software. Guidelines are provided for the examination of federal income tax returns involving the costs paid or incurred by a taxpayer in its trade or business to convert or replace computer software to recognize dates beginning in the year 2000.

Notice 97–59, page 7. Capital gains and losses; rates. Taxpayers are informed of rules for netting capital gains and losses under recently amended section 1(h) of the Code (which provides new capital gains tax rates) and how Code section 1(h) coordinates with other provisions of the Code.

Announcement 97–106, page 11. As a result of the Taxpayer Relief Act of 1997, changes to reporting requirements for 1997 Forms 1099–S and 1099–LTC are provided.

Announcement 97–109, page 12. As a result of the Taxpayer Relief Act of 1997, changes for certain 1996 and 1997 forms are provided to reflect changes in the capital gains tax rates.

Finding Lists begin on page 19. Announcement of Disbarments and Suspensions begins on page 15. Announcement of Declaratory Judgement Proceedings Under Section 7428 begins on page 14.

Department of the Treasury Internal Revenue Service