ADMINISTRATIVE

Rev. Proc. 2000–12, page 387. This procedure contains the qualified intermediary (QI) withholding agreement as well as guidance for entering into the agreement. The objective of the QI withholding agreement is to simplify withholding and reporting obligations for payments of income (including interest, dividends, royalties, and gross proceeds) made to an account holder through one or more foreign intermediaries. Rev. Proc. 98–27 superseded and Notice 99–8 obsoleted.

REG–105606–99, page 421. Proposed regulations under section 41(f) of the Code relate to the computation and allocation of the credit for increasing

research activities for members of a controlled group of taxpayers. A public hearing is scheduled for April 26, 2000.

Notice 2000–7, page 419. Section 1504(d) elections; deferral of termination. This notice provides guidance regarding the effect of the repeal of certain Canadian banking legislation on elections under section 1504(d) of the Code.

Announcement 2000–6, page 428. This announcement corrects final regulations T.D. 8845, 1999–51 I.R.B. 684, under section 6501 of the Code relating to the valuation of prior gifts in determining estate and gift tax liability, and to the period of assesing and collecting gift tax.

2000–4 I.R.B. January 24, 2000