Bulletin No. 2005-12 March 21, 2005

Notice 2005–17. Notices 2004–80 and 2005–17 clarified and modified.

EMPLOYEE PLANS

Notice 2005–26, page 758. Weighted average interest rate update; corporate bond indices; 30-year Treasury securities. The weighted average interest rate for March 2005 and the resulting permissible range of interest rates used to calculate current liability and to determine the required contribution are set forth.

EXEMPT ORGANIZATIONS

Announcement 2005–20, page 772. A list is provided of organizations now classified as private foundations.

Announcement 2005–21, page 776. Little League Baseball, Inc. 2321213 Schenectady LL of Schenectady, NY, and Jane Withers Wonderful World of Dolls and Teddy Bears of Studio City, CA, no longer qualify as organizations to which contributions are deductible under section 170 of the Code.

(Continued on the next page)

EXCISE TAX

Notice 2005–24, page 757. This notice modifies Notice 2005–4, 2005–2 I.R.B. 289, by extending the transitional rule related to sales of gasoline on oil company credit cards and by making several corrections to Notice 2005–4. Notice 2005–4 provides guidance on certain excise tax provisions in the Code that were added or affected by the American Jobs Creation Act of 2004, Pub. L. 108–357. Notice 2005–4 modified.

ADMINISTRATIVE

Rev. Proc. 2005–13, page 759. Automobile owners and lessees. This procedure provides owners and lessees of passenger automobiles (including trucks, vans, and electric automobiles) with tables detailing the limitations on depreciation deductions for passenger automobiles first placed in service during calendar year 2005 and the amounts to be included in income for passenger automobiles first leased during calendar year 2005.

March 21, 2005 2005–12 I.R.B.