ADMINISTRATIVE

Notice 2006–63, page 87. This notice requests comments for developing record retention standards, including recordkeeping limitation programs, for tax-exempt bond issues. In particular, the notice seeks comments regarding any burdens associated with the record retention requirements that apply to issuers and other parties to tax-exempt bond transactions in order to substantiate compliance with section 103 of the Code. Comments should be received by October 16, 2006.

Announcement 2006–49, page 89. Work opportunity tax credit; welfare-to-work (W-t-W) tax credit. This document sets forth the conclusions of the IRS study relating to Rev. Rul. 2003–112 and announces that no credit will be allowed by the Service for any WOTC and W-t-W tax credit claims without proper certification by a designated local agency in accordance with the statute.