INCOME TAX

Rev. Rul. 2008–34, page 76. Law school loan repayment assistance programs. This ruling clarifies that a law school loan made under a Loan Repayment Assistance Program (LRAP) generally satisfies the requirements of section 108(f)(1) of the Code, and is a “student loan” within the meaning of section 108(f)(2).

Rev. Rul. 2008–37, page 77. Life insurance company, statutory reserves. This ruling provides that, if a life insurance company does business in several states with different minimum reserve requirements, the amount of the company’s statutory reserves is the highest aggregate reserve amount set forth on an annual statement pursuant to the minimum reserving requirements of any state in which the company does business.

REG–101258–08, page 111. Proposed regulations under sections 642 and 643 of the Code contain amendments providing guidance with regard to the federal tax consequences of a provision in a trust or estate that attempts to determine the tax character of amounts paid to a charitable beneficiary. A public hearing is scheduled for October 8, 2008.

Notice 2008–56, page 79. This notice provides for the suspension of certain requirements under section 42 of the Code for low-income housing credit projects in the United States in order to provide emergency housing relief needed as a result of the devastation caused by severe storms and flooding in Indiana beginning on June 6, 2008.

Finding Lists begin on page ii.