INCOME TAX

Rev. Rul. 2008–17, page 626. International operation of ships or aircraft; foreign cor- poration. This ruling assists a foreign corporation engaged in the international operation of ships or aircraft, and its shareholders, in determining whether the foreign corporation is organized in a country that grants an “equivalent exemption” from tax for purposes of section 883(a) and (c) of the Code. The ruling also assists a nonresident alien individual engaged in the international operation of ships or aircraft in determining whether a country grants an equivalent exemption for purposes of section 872(b). The ruling does not, however, provide substantive guidance under section 883. Rev. Ruls. 89–42, 97–31, and 2001–48 modified and superseded.

Notice 2008–33, page 642. This notice provides procedures for manufacturers to follow to certify both that a particular make, model, and model year of fuel cell motor vehicle meets the requirements of section 30B(a)(1) and (b) of the Code, and the amount of the credit allowable with respect to the vehicle.

Notice 2008–34, page 645. This notice identifies a transaction in which a tax indifferent party contributes one or more distressed assets with a high basis and low fair market value to a trust or series of trusts and sub-trusts, and a U.S. taxpayer acquires an interest in the trust (and/or series of trusts and/or sub-trusts) for the purpose of shifting a built-in loss from the tax indifferent party to the U.S. taxpayer that has not incurred the economic loss.

Notice 2008–35, page 647. This notice supersedes Notice 2006–27, 2006–1 C.B. 626, by substantially republishing the guidance contained in that publi

Finding Lists begin on page ii.