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

Environmental cleanup costs; letter

rulings (RP 17) 5, 21 Exempt Organizations:

Letter rulings, etc. (RP 4) 1, 113 Organizations excepted from reporting

lobbying expenditures (RP 19) 7, 30 Tax consequences of physicians re

Letter rulings, determination letters, and

information letters issued by Associate Chief Counsel (Domestic), Associate Chief Counsel (EBEO), Associate Chief Counsel (Enforcement Litigation), and Associate Chief Counsel (International) (RP 1) 1, 7 Losses attributable to a disaster during

1997 (RR 12) 10, 5 Low-income housing tax credit (Notice

cruitment incentives provided by hospitals (RR 15) 12, 6 Technical advice (RP 5) 1, 155 User fees (RP 8) 1, 225 Failure to deposit federal tax; penalty

abatement (Notice 14) 8, 27 Foreign partnerships, reporting transfer of

property by U.S. persons (Notice 17) 11, 6 Foreign tax credit abuse (Notice 5) 3, 49 Fringe benefits aircraft valuation formula,

first half of 1998 (RR 14) 11, 4 Fuel from a nonconventional source,

credit; section 29 inflation adjustment; reference price for 1997 (Notice 28) 19, 7 Insurance companies:

13. 6, 19 Satisfactory bond; “bond factor”

amounts for the period October through December 1997 (RR 3) 2, 4; January–March 1998 (RR 13) 11, 4; April-June 1998 (RR 31) 25, 4 Magnetic media/electronic filing:

Specifications for 1998 Forms 1098,

Discounting estimated salvage recover able (RP 12) 4, 18 Interest rate tables (RR 2) 2, 15 Loss reserves; discounting unpaid

1099, 5498, and W–2G (RP 35) 19, 6 Form 1040NR (RP 36) 23, 10 Methods of accounting; involuntary

changes (Notice 31) 22, 10 Package design; amortization; capitaliza tion; amortizable section 197 intangible (RP 39) 26, 36 Passive foreign investment companies:

1.1295–1T(b)(4), (f), and (g) to taxable years beginning before January 1, 1998 (Notice 22) 17, 5 Proposed regulations:

Shareholders may use rules of sec.

losses (RP 11) 4, 9 Interest:

Investment:

26 CFR 1.460–6, amended; election not to apply look-back method in de minimis cases (REG–120200–97) 12, 32 26 CFR 1.469–10, revised; 1.7704–1, added; investment income, passive activity income and loss rules for publicly traded partnerships (REG–105163–97) 8, 31 26 CFR 1.475(g)–2, new; 1.482–8, added; 1.482–0, –1, –2, 1.863, 1.863–7(a)(1), 1.864–4, –6, 1.894–1, amended; 1.482–9, redesignated; global dealing operation allocation and sourcing of income and deductions among taxpayers (REG– 208299–90) 16, 26 26 CFR 1.513–7, added; travel and tour activities of tax exempt organizations (REG–121268–97) 20, 12 26 CFR 1.702–1, 1.954–1, 301.7701–3, amended; 1.952–1(b), (c), redesignated 1.954–2(a)(5), (6), 1.954– 4(b)(2)(iii), 1.954–9, 1.956–2(a)(3), added (REG–104537–97) 16, 21 26 CFR 1.732–1, amended; 1.732–2, amended; 1.734–1(e), added; 1.743– 1, revised; 1.751–1, amended; 1.755–1, revised; 1.1017–1, revised; adjustments to basis of partnership property and partnership interest (REG–209682–94) 17, 20 26 CFR 1.864(b)–1; trading safe harbors (REG–106031–98) 26, 38 26 CFR 1.925(a)–1, (b)–1, added; 1.927(e)–1, amended; foreign sales corporation transfer pricing source and grouping rules (REG–102144– 98) 15, 25 26 CFR 1.1291–1, 1.1293–1, 1.1295–1, –3, 1.1297–3(c), added; 1.1296–4, amended; passive foreign investment company preferred shares, special income exclusion (REG–115795– 97) 8, 33 26 CFR 1.1361–0, amended; 1.1361–1, amended; 1.1361–1(d)(3), removed; 1.1361–2 through –6 and intermediary sections, added; 1.1362–0, amended; 1.1362–2, amended; 1.1362–8, added; 1.1368–0, amended; 1.1368–2(d)(2), amended; 1.1374–8(b), amended; S corporation subsidiaries (REG–251698–96) 20, 14 26 CFR 1.1397E–1, added; qualified zone academy bonds (REG– 119449–97) 10, 35

Federal short-term, mid-term, and

long-term rates for January 1998 (RR4) 2, 18 ; February 1998 (RR7) 6, 6 ; March 1998 (RR11) 10, 13 ; April 1998 (RR 18) 14, 22 ; May (RR 23) 18, 5; June 1998 (RR 28) 22, 5 Rates, underpayments and overpay

ments (RR 17) 13, 21; calendar quarter beginning July 1, 1998 (RR 32) 25, 4 Inventory:

LIFO:

Price indexes; department stores for

November 1997 (RR 6) 4, 4 ; December 1997 (RR 9) 6, 5; January 1998 (RR 16) 13, 18 ; February 1998 (RR 20) 15, 8 ; March 1998 (RR 26) 21, 4; April 1998 (RR 29) 24, 4 Shrinkage estimates:

Changing method of accounting for

estimating inventory shrinkage (RP 29) 15, 22

26 CFR 1.72(p)–1, amended; loans to plan participants (REG–209476–82) 8, 36 26 CFR 1.141–7, 1.142(f)(4)–1, 1.150– 5, added; 1.141–8, –15, amended; obligations of states and political subdivisions (REG–110965–97) 13, 42 26 CFR 1.195–1, added; election to amortize start-up expenditures (REG–209373–81) 14, 26 26 CFR 1.356–6, added; reorganizations, nonqualified preferred stock (REG–121755–97) 9, 13 26 CFR 1.368–1, amended; corporate reorganizations, continuity of interest (REG–120882–97) 14, 25 26 CFR 1.401(a)(9)–1, amended; qualified plans and individual retirement plans, required distributions (REG– 209463–82) 4, 27 26 CFR 1.417(e)–1 and paragraph (d), revised; 1.417(e)–1T and paragraph (d), revised; valuation of plan distributrions (TD 8768) 20, 4

July 6, 1998 46 1998–27 I.R.B.