ADMINISTRATIVE

REG–107069–97, page 346. Proposed regulations under sections 338 and 1060 of the Code relate to the allocation of purchase price to determine the amount realized and the amount of basis allocated to each asset transferred in deemed and actual asset acquisitions. A public hearing is scheduled for October 12, 1999.

Notice 99–47, page 391. This notice provides guidance concerning a competent authority agreement between the United States and Canada that implements Article XXI (Exempt Organizations) of the United States–Canada Tax Convention (Treaty).

Announcement 99–89, page 408. This document contains corrections to Rev. Rul. 99–23, 1999–20 I.R.B. 3, dated May 17, 1999, relating to start-up expenditures under section 195 of the Code.

Announcement 99–90, page 409. Form 10318, Deduction for Depletion on Ground Water Used for Irrigation, is obsolete.

Announcement 99–93, page 409. This announcement corrects an error in the instructions for Form 8853, Medical Savings Accounts and Long-Term Care Insurance Contracts, and Form 5329, Additional Taxes Attributable to IRAs, Other Qualified Retirement Plans, Annuities, Modified Endowment Contracts, and MSAs, regarding when to report earnings on certain excess contributions withdrawn from medical savings accounts.