Bulletin No. 2006-5 January 30, 2006

Notice 2006–6, page 385. This document notifies taxpayers and material advisors of a future change to the categories of reportable transactions under proposed section 1.6011–4 of the regulations. The Service and Treasury Department will be issuing temporary and proposed regulations under section 1.6011–4 that will remove from the categories of reportable transactions under section 1.6011–4(b)(1) the category of transactions with a significant book-tax difference currently set forth in section 1.6011–4(b)(6). Until the amended regulations are issued, taxpayers and material advisors may rely on this notice.

Notice 2006–10, page 386. Hurricane Katrina evacuation allowances. This notice discusses the income and employment tax treatment of special allowances paid by federal executive agencies to employees and their dependents to reimburse certain expenses incurred while evacuating from the Hurricane Katrina core disaster area and staying at a safe haven.