Bulletin No. 2007-22 May 29, 2007

Rev. Proc. 2007–32, page 1322. This procedure updates the Gaming Industry Tip Compliance Agreement (GITCA) Program, Rev. Proc. 2003–35, 2003–1 C.B. 919. This program allows gaming industry employers to work with the Service to create voluntary agreements establishing minimum tip rates for tipped employees in specified occupational categories. Once tip rates are established, the program allows streamlined reporting by employers to the Service with reduced need for oversight. The new procedure enhances the GITCA program to accommodate the technological changes in the gaming industry. Rev. Proc. 2003–35 superseded.

Rev. Proc. 2007–36, page 1335. Health Savings Accounts (HSAs) inflation adjustments. This procedure modifies and supersedes section 3.24(1) of Rev. Proc. 2006–53, 2006–48 I.R.B. 996, to reflect amendments made to section 223 of the Code by the Health Opportunity Patient Empowerment Act of 2006. The Act changes the maximum annual contribution to HSAs for taxable years beginning after December 31, 2006. The procedure also provides the inflation adjusted amounts for HSAs for 2008. Rev. Proc. 2006–53, section 3.24(1), modified and superseded.

EMPLOYEE PLANS

T.D. 9324, page 1302. Final regulations under section 402A of the Code provide guidance concerning the taxation of distributions from designated Roth accounts under qualified cash or deferred arrangements under section 401(k).

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EXEMPT ORGANIZATIONS

Notice 2007–45, page 1320. This notice provides interim guidance on procedures for organizations exempt from federal income tax under section 501(a) of the Code and described in section 501(c)(3) to make Form 990–T available for public inspection and copying, as now required by new section 6104(d)(1)(A)(ii), enacted by the Pension Protection Act of 2006. The notice also solicits comments regarding the public inspection requirement for section 501(c)(3) organizations whose income is also exempt under section 115(l), or any other Code section or legal principle.

Announcement 2007–51, page 1337. The IRS has revoked its determination that Security Warranty, Inc., of San Antonio, TX; Franklin Foundation, Inc., of Gaithersburg, MD; Howard Family Foundation of Chicago, IL; Center for Electronic Art of Woodacre, CA; and Richard and Jane Pater Charitable Foundation of Salt Lake City, UT, qualify as organizations described in sections 501(c)(3) and 170(c)(2) of the Code.

Announcement 2007–52, page 1337. A list is provided of organizations now classified as private foundations.

ADMINISTRATIVE

Rev. Proc. 2007–32, page 1322. This procedure updates the Gaming Industry Tip Compliance Agreement (GITCA) Program, Rev. Proc. 2003–35, 2003–1 C.B. 919. This program allows gaming industry employers to work with the Service to create voluntary agreements establishing minimum tip rates for tipped employees in specified occupational categories. Once tip rates are established, the program allows streamlined reporting by employers to the Service with reduced need for oversight. The new procedure enhances the GITCA program to accommodate the technological changes in the gaming industry. Rev. Proc. 2003–35 superseded.

Announcement 2007–50, page 1337. This document contains corrections to final and temporary regulations (T.D. 9322, 2007–18 I.R.B. 1100) that provide guidance to corporations filing consolidated returns.

May 29, 2007 2007–22 I.R.B.