Bulletin No. 1999–23 June 7, 1999

REG–113910–98, page 17. Proposed regulations under section 263A of the Code relate to accounting for costs incurred in producing property and acquiring property for resale. A public hearing is scheduled for September 1, 1999.

Notice 99–31, page 6. The deadline for special reformations under section 664 of the Code will be extended from June 8, 1999, to June 30, 2000.

Notice 99–32, page 6. Hope Scholarship credit; Lifetime Learning credit; election. Final regulations under section 25A of the Code will permit taxpayers to elect to claim the Hope Scholarship Credit and the Lifetime Learning Credit by attaching Form 8863 to a timely filed original Federal income tax return or to an original or amended return filed after the due date of the return.