INCOME TAX

Rev. Rul. 2007–70, page 1158. 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 December 2007.

Rev. Rul. 2007–72, page 1154. Diagnostic medical procedures. This ruling holds that amounts paid by individuals for certain diagnostic and similar procedures and devices are medical care expenses deductible under section 213 of the Code.

REG–127770–07, page 1171. Proposed regulations under section 860G of the Code expand the list of permitted loan modifications to include certain modifications of commercial mortgages. Changes to the regulations are necessary to better accommodate evolving commercial mortgage industry practices. These changes will affect lenders, borrowers, servicers, and sponsors of securitizations of mortgages in REMICs.

Notice 2007–98, page 1160. This notice announces the phase-out of the qualified hybrid motor vehicle credit and the new advanced lean burn technology motor vehicle credit for passenger automobiles and light trucks manufactured by American Honda Motor Company, Inc., that are purchased for use or lease in the United States beginning on January 1, 2008.

Rev. Proc. 2007–70, page 1162. Optional standard mileage rates. This procedure announces 50.5 cents as the optional rate for deducting or accounting for expenses for business use of an automobile,

Finding Lists begin on page ii.