INCOME TAX—Cont. — Internal Revenue Bulletin 2003-27

S corporations:

Employee stock ownership plan

(ESOP):

Basis (RR 27) 11, 597 IRA rollovers and S corporation

election (RP 23) 11, 599 Spin-offs, stock distributions:

Business purpose requirement (RR

22, 961 Farming business (RR 52) 22, 960 Statutory mergers and consolidations

(TD 9038) 9, 524 ; (REG–126485– 01) 9, 542 ; correction (Ann 25) 17, 846 Transactions involving deemed sale of

corporate assets under section 338, new Form 8883 (Ann 2) 3, 301 Cost-share payments, Agricultural Man agement Assistance Program (AMA) (RR 15) 4, 302 Costa Rican withholding taxes, noncredit ability (RR 8) 3, 290 Credits:

Adoption credit (Notice 15) 9, 540 Earned income credit:

Indian tribal government (Notice

22, 971 Prequalification of child eligibility

for (Ann 40) 26, 1132 Update (TD 9045) 12, 610 Education tax credit (TD 9034) 7,

453 Foreign taxpayers, disallowance of

deductions and credits for failure to file timely return (TD 9043) 12, 611 Low-income housing credit:

2003 population figures used for calculation (Notice 16) 10, 575 Satisfactory bond, “bond factor”

amounts for the period:

January through March 2003 (RR

2, 251 ; correction (RR 22) 8, 494 April through June 2003 (RR 44)

18, 848 New markets tax credit (RR 20) 7,

465 ; extension of deadline (Notice 9) 5, 369 Nonconventional source fuel credit,

inflation adjustment factor, reference price for CY 2002 (Notice 27) 19, 898

2003–27 I.R.B. x July 7, 2003