ADMINISTRATIVE

Rev. Proc. 98–45, page 8. Low-income housing tax credit. This procedure publishes the amounts of unused housing credit carryovers allocated to qualified states under section 42(h)(3)(D) of the Code for calendar year 1998.

Notice 98–38, page 7. SRLY notice. The Treasury Department and the Service are considering an approach to simplify Separate Return Limitation Year (SRLY) rules applicable to consolidated groups. Comments are requested about the advisability of adopting this approach. The new approach would base the SRLY limitation on an expectation of the amount of income to be generated using the methodology of section 382 of the Code.

Announcement 98–77, page 30. Comments are requested on proposed training materials discussing the application of section 119 of the Code to the provision of employee meals in the hospitality industry.

Announcement 98–78, page 30. The Service announces a settlement initiative allowing hospitality industry taxpayers to resolve issues relating to the provision of employee meals.

Announcement 98–79, page 31. The public hearing for proposed regulation REG–209682–94, 1998–17 I.R.B. 20, is changed to September 10, 1998.