INCOME TAX—Continued INCOME TAX—Continued INCOME TAX—Continued

Enhanced oil recovery credit for 1997

(Notice 39) 27, 8 Extension of time to file, Form 926 (No tice 42) 29, 12 Forms 1096, 1098, 1099 series, 5498,

Last-in, first-out inventory method (RP

W–2G: Reproduction of forms; RP 97–32, mod

36. 33, 14 Original issue discount (RP 39) 33, 48 Package design costs (RP 35) 33, 11 Warranty contracts (RP 38) 33, 43 Mutual life insurance companies; differ

ential earnings rate (RR 35) 35, 4 Optional rules for substantiating certain

ified and amplified (RP 97–32A) 34, 10; Requirements for reproducing paper substitutes (RP27) 27, 9 Fringe benefits aircraft valuation formula

(RR 33) 34, 4 Insurance companies; segregated asset ac counts (RR 46) 46, 7 Intercompany transactions on separate en

travel etc., expenses (RP 45) 41, 10 Private delivery services; timely filing or

payment (Notice 50) 37, 21 Proposed regulations:

26 CFR 1.163–5(c)(2)(i)(B)(5), 1.165–12, 1.817–7, 1.1441–8, 1.1445–5, 1.6041–1, –2, –3, 1.6041–7, 1.6042–2, –4, 1.6043–2, 1.6044–2, 1.6045–1, –2, 1.6049–4, –5, –6, –7, –8(a), 1.6050A, 1.6050H–1, 1.6050N–1, 1.6071–1, 301.6109–1, 301.6114–1, 301.6402–3, 301.6721–0, 1.1441–3, 1.871–14, 1.1441–0, –9, 1.1442–3, 1.6041–8, 1.6041A–1, added; 1.871–6, 1.1441–1, –2, –5, –6, 1.1442–1, –2, 1.1443–1, 1.1461–1, –2, 1.1462–1, 1.1463–1, 1.6041–4, 1.6044–3, –5, 1.6091–1(b)(15), revised; 1.1441–4T, 1.1461–3, –4, 1.6045–1T, –2T, removed; 1.1441–8T, redesignated; withholding of tax on certain U.S. source income paid to foreign persons and related collection, refunds, and credits (TD 8734) 44, 5 26 CFR 1.263A–0, –1, –15, amended; 1.263A, added; 1.263A–7T, removed; procedure for changing a method of accounting under section 263A (TD 8728) 37, 4 26 CFR 1.302–2, amended; 1.1059(e)(1), added; extraordinary dividends (TD 8724) 36, 4 26 CFR 1.401(b)–1, amended; 1.401(b)–1T, added; remedial amendment period (TD 8727) 34, 5 26 CFR 1.501(c)(5)–1, amended; taxexempt organizations, requirements (TD 8726) 34, 7 26 CFR 1.704–3, 1.1245–1, amended; allocations of depreciation recapture among partners in a partnership (TD 8730) 38, 16 26 CFR 1.861–2, 1.864–5, 1.871–7, 1.881–2, 1.884–1, 1.7701(1)–1; securities lending transactions, certain payments made (TD 8735) 43, 4 26 CFR 1.894–1T(a) through (c), added; guidance regarding claims for certain income tax convention (TD 8722) 29, 4 26 CFR 1.6038–2, 1.6046–1(g), 301.6114–1, 301.7701(b)–0, –3, –7, –8; treaty-based return positions (TD 8733) 43, 8 26 CFR 1.6302–1, –2, amended; 1.6302–1T, –2T, –3T, –4T, removed; 1.6302–3(c), revised; 1.6302–4, added; federal tax deposits by electronic funds transfer (TD 8723) 30, 4

tity basis (RP 49) 43, 22 Interest:

Investment:

Federal short-term, mid-term, and

long-term rates for July 1997 (RR 27) 27, 4 ; August 1997 (RR 30) 31, 12 ; September 1997 (RR 36) 36, 5; October 1997 (RR 41) 40, 4 ; November 1997 (RR 44) 45, 5 Rates:

Underpayments and overpayments for calendar quarter beginning October 1, 1997 (RR 40) 39, 8 International operation of ships and aircraft; income exempt from tax (RR 31) 32, 4 Inventories:

LIFO:

Automobile dealers (RR 42) 41, 4 ;

(RP 44) 41, 8 Price indexes, department stores,

26 CFR 1.263A–0, amended; rules for property produced in a farming business (REG–208151–91) 38, 21 26 CFR 1.401(b)–1; remedial amendment period (REG–106043–97) 37, 24 26 CFR 1.411(d)–4, amended; permitted elimination of preretirement optional forms benefit (REG–107644–97) 32 , 24 26 CFR 1.465–27, added; qualified nonrecourse financing under section 465(b)(6) (REG–105160–97) 37, 22 26 CFR 1.894–1(d), added; guidance regarding claims for certain income tax convention (REG–104893–97) 29, 13 26 CFR 1.1441–1 (e)(4)(iv), revised; Form W–8, electronic filing (REG–107872–97) 47, 11 26 CFR 1.1441–3(b), revised; sales of obligations between interest payment dates; Withholding on interest (REG–114000–97) 47, 13 26 CFR 301.6104(e)–0, –1, –2, –3, added; tax-exempt organizations, public disclosure requirements, guidance availability and hearing (REG–246250–96) 42, 30 Punitive damages for personal injuries

(CtD 2061) 31, 5 Qualified state tuition programs (Notice

May 1997 (RR 28) 28, 4; June 1997 (RR 32) 33, 4 ; July 1997 (RR 37) 37, 15; August 1997 (RR 43) 42, 8 ; September 1997 (RR 47) 47, 4 Late S corporation elections (RP 40) 33, 50 Low-income housing:

Bond factor amounts, July–September

52. 38, 20 Regulations:

1997 (RR 34) 34, 4 Tax credit (RP 42) 33, 57 Marginal production rates for 1997 (No tice 38) 27, 8 Mark-to-market accounting method for

dealers in securities (RR 39) 39, 4 Material limitation on surviving spouse’s

right to income (Notice 63) 47, 6 Methods of accounting:

Automatic consent to change (RP 37)

26 CFR 1.42–15, added; low-income housing tax credit, available unit rule (TD 8732) 42, 4 26 CFR 1.42–16, added; 1.42–16T, removed; low-income housing tax credit, federal grants (TD 8731) 42, 6 26 CFR 1.61–4, 1.162–12(a), 1.263A– 1, 1.471–6, amended; 1.263A–4T, revised; rules for property produced in a farming business (TD 8729) 38, 4

33, 18

1997–48 I.R.B. 31 December 1, 1997