INCOME TAX

Rev. Rul. 2000–41, page 248. Federal rates; adjusted federal rates; adjusted federal long-term rate, and the long-term ex- empt rate. For purposes of sections 1274, 1288, 382, and other sections of the Code, tables set forth the rates for September 2000.

T.D. 8896, page 249. REG–103735–00; REG–110311–98; REG–103736–00, page 258. Proposed and temporary regulations modify the disclosure, registration, and list maintenance requirements relating to tax shelters under sections 6011, 6111, and 6112 of the Code.

T.D. 8897, page 234. Final regulations under section 263A of the Code provide guidance relating to the application of the uniform capitalization rules to property produced in the trade or business of farming. Notices 87–76, 88–24, and 88–86 (section V) obsolete.

Notice 2000–44, page 255. Tax avoidance using artificially high basis. Taxpayers and their representatives are alerted that the purported losses arising from certain types of transactions are not properly allowable for federal income tax purposes. Also, the Service may impose penalties on participants in these transactions or, as applicable, on persons who participate in promoting or reporting these transactions.

Notice 2000–45, page 256. Capitalization; business expenses; farmers. This notice provides guidance to taxpayers engaged in the trade