Bulletin No. 2008-33 August 18, 2008

Rev. Proc. 2008–36, page 340. General rules and specifications for private printing of substitute forms . This procedure provides requirements for reproducing paper substitutes and for furnishing substitute recipient statements for Forms 1096, 1098, 1099, 5498, W-2G, and 1042-S. It will be reproduced as the next revision of Publication 1179. Rev. Proc. 2007–50 superseded.

Announcement 2008–73, page 391. This document contains corrections to proposed regulations (REG–101258–08, 2008–28 I.R.B. 111) providing guidance under section 642(c) of the Code with regard to the federal tax consequences of an ordering provision in a trust, a will, or a provision of local law that attempts to determine the tax character of the amounts paid to a charitable beneficiary of the trust or estate. The regulations also make conforming amendments to the regulations under section 643(a)(5).

Announcement 2008–74, page 392. This document contains a correction to final regulations (T.D. 9391, 2008–20 I.R.B. 945) providing rules under section 937(b) of the Code for determining whether income is derived from sources within a U.S. possession or territory specified in section 937(a)(1) (generally referred to in this preamble as a “territory”) and whether income is effectively connected with the conduct of a trade or business within a territory.

Announcement 2008–75, page 392. This document contains corrections to proposed regulations (REG–129243–07, 2008–27 I.R.B. 32) implementing amendments to the tax return preparer penalties under sections 6694 and 6695 of the Code and related provisions under sections 6060, 6107, 6109, 6696 and 7701(a)(36) reflecting amendments to the Code made by the Small Business and Work Opportunity Tax Act of 2007.