INCOME TAX

Notice 2002–52, page 187. This notice clarifies proposed regulations (REG–105369–00, 2002–18, I.R.B. 828) under sections 141 and 148 of the Code relating to certain natural gas prepayments.

Notice 2002–53, page 187. 2002 enhanced oil recovery credit . The enhanced oil recovery credit for taxable years beginning in the 2002 calendar year is determined without regard to the phase-out for crude oil price increases provided in section 43(b) of the Code.

Notice 2002–54, page 189. 2002 marginal production rates . This notice announces the applicable percentage under section 613A of the Code to be used in determining percentage depletion for marginal properties for the 2002 calendar year.

REG–106871–00, page 190. Proposed regulations under section 671 of the Code define widely held fixed investment trusts, clarify the reporting obligations of the trustees and middlemen connected with these trusts, and provide for the communication of necessary tax information to beneficial owners. REG–209813–96 withdrawn.

REG–164754–01, page 212. Proposed regulations under section 61 of the Code provide comprehensive guidance on split-dollar life insurance arrangements for federal income, employment, and gift tax purposes. In general, the regulations provide two mutually exclusive regimes for the taxation of these arrangements: the economic benefit regime and the loan regime. A public hearing is scheduled for October 23, 2002.

Finding Lists begin on page ii.