ADMINISTRATIVE

Notice 98–59, page 16. Information reporting; Hope Credit; lifetime learning credit. Educational institutions are informed that the Service will not require information returns to be filed under section 6050S of the Code for 1998 or 1999 to report tuition received with respect to students taking only noncredit courses. Also, no reporting is required for 1998 or 1999 with respect to tuition paid by nonresident alien students, unless requested by the student.

Rev. Proc. 98–58, page 19. Alternative minimum tax; change in accounting method. A procedure is provided to allow taxpayers to automatically change their method of accounting under section 446 of the Code for certain deferred payment sales contracts (relating to property used or produced in the trade or business of farming) to the installment method for alternative minimum tax purposes.