HIGHLIGHTS OF THIS ISSUE

These synopses are intended only as aids to the reader in identifying the subject matter covered. They may not be relied upon as authoritative interpretations.

INCOME TAX

Rev. Rul. 2005–13, page 664. Federal rates; adjusted federal rates; adjusted federal long-term rate and the long-term exempt rate. For purposes of sections 382, 642, 1274, 1288, and other sections of the Code, tables set forth the rates for March 2005.

T.D. 9175, page 665. REG–130671–04, page 694. Temporary and proposed regulations under sections 6011, 6033, and 6037 of the Code affect certain corporations and organizations filing returns. These regulations require certain corporations and organizations to file their Forms 1120, 1120S, 990, and 990-PF electronically. A public hearing on the proposed regulations is scheduled for March 16, 2005.

T.D. 9177, page 671. Final regulations under section 6031(a) of the Code allow the Commissioner to publish in the Internal Revenue Bulletin guidance that excepts from the partnership income tax reporting requirements partnerships whose income is primarily from tax-exempt bonds.

EMPLOYEE PLANS

T.D. 9176, page 661. Final regulations under section 411 of the Code reflect the addition of section 411(d)(6)(E) by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) by amending section 1.411(d)–4, Q&A–2(e) of the regulations. The regulations retain rules under which a defined contribution plan could be amended, but remove the 90-day notice condition.

Announcements of Disbarments and Suspensions begin on page 696. Finding Lists begin on page ii.