SECTION 4. EFFECT ON OTHER

NOTICES

Notice 2003–76, as modified by Notice 2004–19 and Notice 2004–65, is supplemented and superseded. For updates to this list, go to the IRS web page at www.irs.gov/businesses/corporations and click on Abusive Tax Shelters and Transactions. Notices and other published guidance will still be used to identify transactions that have been determined by the Service to be “listed transactions.”

DRAFTING INFORMATION

The principal authors of this notice are Michael J. Goldman and David A. Shulman of the Office of Associate Chief Counsel (Passthroughs & Special Industries). For further information regarding this notice, contact the authors at (202) 622–3070 (not a toll-free call).

See also Rev. Rul. 2004–21, 2004–10 I.R.B. 544, §§ 1.79–1(d)(3), 1.83–3(e) and 1.402(a)–1(a)(1) and (2) of the proposed Income Tax Regulations, and Rev. Proc. 2004–16, 2004–10 I.R.B. 559; (28) Notice 2004–20, 2004–11 I.R.B. 608 (transactions in which, pursuant to a prearranged plan, a domestic corporation purports to acquire stock in a foreign target corporation and to make an election under § 338 before selling all or substantially all of the target corporation’s assets in a preplanned transaction that generates a taxable gain for foreign tax purposes (but not for U.S. tax purposes) (identified as “listed transactions” on February 17, 2004));

(29) Notice 2004–30, 2004–17 I.R.B. 828 (transactions in which S corporation shareholders attempt to transfer the incidence of taxation on S corporation income by purportedly donating S corporation nonvoting stock to an exempt organization while retaining the economic benefits associated with that stock (identified as “listed transactions” on April 1, 2004)); and

(30) Notice 2004–31, 2004–17 I.R.B. 830 (transactions in which corporations claim inappropriate deductions for payments made through a partnership (identified as “listed transactions” on April 1, 2004)).