Bulletin No. 2007-25 June 18, 2007

eral, covered employees are the principal executive officer and those officers whose total compensation for that taxable year is required to be reported to shareholders under the Securities Exchange Act by reason of such employee being among the 3 highest compensated officers for the taxable year (other than the principal executive officer or the principal financial officer).

Notice 2007–50, page 1430. This notice provides guidance relating to the percentage limitations imposed by section 170(b)(1)(E) of the Code on qualified conservation contributions made by individuals.

Rev. Proc. 2007–39, page 1446. Addition of section 102(a) to the no-rule rev. proc. This procedure announces that the Service will not issue letter rulings or determination letters on whether a transfer is a gift within the meaning of section 102(a) of the Code. Rev. Proc. 2007–3 amplified.