INCOME TAX

Rev. Rul. 2003–44, page 848. Low-income housing credit; satisfactory bond; “bond fac- tor” amounts for the period April through June 2003. This ruling announces the monthly bond factor amounts to be used by taxpayers who dispose of qualified low-income buildings or interests therein during the period April through June 2003.

Notice 2003–22, page 851. This notice addresses an abusive arrangement designed to circumvent longstanding tax principles and enable the evasion of income and employment taxes on compensation income through the use of unrelated conduit domestic and foreign employee leasing companies.