INCOME TAX

Rev. Rul. 2007–62, page 767. Low-income housing credit; satisfactory bond; “bond factor” amounts for the period January through De- cember 2007. This ruling provides the monthly bond factor amounts to be used by taxpayers who dispose of qualified low-income buildings or interests therein during the period January through December 2007.

Rev. Rul. 2007–63, page 778. Federal rates; adjusted federal rates; adjusted federal long-term rate and the long-term exempt rate. For purposes of sections 382, 642, 1274, 1288, and other sections of the Code, tables set forth the rates for October 2007.

T.D. 9354, page 759. Final regulations under section 21 of the Code conform the rules relating to the child and dependent care credit to statutory changes, including amendments under the Working Families Tax Relief Act of 2004, and address significant issues that have arisen administratively. The regulations are renumbered to conform to the renumbering of the statute. Rev. Ruls. 76–278 and 76–288 obsoleted.

T.D. 9357, page 773. Final regulations under section 853 of the Code generally eliminate country-by-country reporting, by a regulated investment company (RIC) to its shareholders, of foreign source income that the RIC takes into account and foreign taxes that it pays.

T.D. 9358, page 769. Final regulations under section 338 of the Code permit taxpayers to elect to modify the application of the ADSP and AGUB allocation rules of regulations section 1.338–6 as regards nu

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