Bulletin No. 2007-50 December 10, 2007

14 cents as the optional rate for use of an automobile as a charitable contribution, and 19 cents as the optional rate for use of an automobile as a medical or moving expense for 2008. The procedure also provides rules for substantiating the deductible expenses of using an automobile for business, moving, medical, or charitable purposes. Rev. Proc. 2006–49 superseded.

Announcement 2007–112, page 1175. This announcement revises Revenue Procedure 2007–65, 2007–45 I.R.B. 967, by adding the following language to Section 3: “The requirements set forth in this revenue procedure that must be satisfied in order to qualify for the Safe Harbor, however, are not intended to provide substantive rules and are not to be used as audit guidelines,” and replacing “will not challenge” with “will respect” in Section 6.

Announcement 2007–114, page 1176. This document announces that proposed Form 8926, Disqual- ified Corporate Interest Expense Disallowed Under Section 163(j) and Related Information, is being posted to the IRS website.