ADMINISTRATIVE

T.D. 9022, page 909. REG–143321–02, page 922. Temporary and proposed regulations under section 6043(c) of the Code require information reporting by a corporation if there is an acquisition of control of the corporation or a substantial change in the corporation’s capital structure. The regulations require the corporation to file a form reporting the event and to file Forms 1099 with respect to amounts distributed to shareholders. These regulations also require brokers who receive a Form 1099 as the record holder of stock, pursuant to section 6043(c) regulations, to file a Form 1099 with respect to the actual owner of the stock. A public hearing on the proposed regulations is scheduled for March 5, 2003.

Notice 2002–76, page 917. Gross income; disaster relief payments. This notice provides answers to frequently asked questions regarding the tax treatment of Residential Grant Program grants the Lower Manhattan Development Corporation makes to individuals and families who occupy rental units or owner-occupied units in areas near the site of the September 11, 2001, attack on the World Trade Center.