INCOME TAX

Ct.D. 2063, page 13. Lien for taxes; validity and priority against third par- ties; judgement creditor. The Supreme Court has affirmed that under section 6323 of the Code a federal tax lien need not be given preference over a judgement creditor’s perfected lien on real property in a decedent’s insolvent estate. United States v. Estate of Francis J. Romani, et al.

Rev. Rul. 98–43, page 9. Federal rates; adjusted federal rates; adjusted federal long-term rate, and the long-term exempt rate. For purposes of sections 1274, 1288, 382, and other sections of the Code, tables set forth the rates for September 1998.

T.D. 8778, page 4. REG–115446–97, page 23. Temporary and proposed regulations under section 936 of the Code provide guidance regarding the addition of a substantial new line of business by a possessions corporation that is an existing credit claimant. A public hearing on the proposed regulations will be held on December 1, 1998.