Bulletin No. 2008-43 — Internal Revenue Bulletin 2008-43

Notice 2008–92, page 1001. Insurance-dedicated money market funds. This notice provides guidance that an insurance-dedicated money market fund’s participation in Treasury’s Temporary Guarantee Program for Money Market Funds won’t result in a violation of the section 817(h) diversification requirements in the case of a segregated asset account that invests in the insurance-dedicated money market fund.

Rev. Proc. 2008–60, page 1006. This procedure informs all taxpayers who hold a surety bond or a Treasury Direct Account (TDA) pursuant to former section 42(j)(6) of the Code how to make the election, allowed by section 3004(i)(2)B)(ii) of the Housing Assistance Tax Act of 2008, to discontinue the surety bond or TDA.

EMPLOYEE PLANS

Notice 2008–93, page 1002. Weighted average interest rate update; corporate bond indices; 30-year Treasury securities; segment rates. This notice contains updates for the corporate bond weighted average interest rate for plan years beginning in October 2008; the 24-month average segment rates; the funding transitional segment rates applicable for October 2008; and the minimum present value transitional rates for September 2008.

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EXEMPT ORGANIZATIONS

T.D. 9423, page 966. REG–142333–07, page 1008. Final, temporary, and proposed regulations under sections 170, 507, 509, 6033, and 6043 of the Code affect tax-exempt organizations required to file an annual return under section 6033. The regulations provide guidance relating to the computation of public support, new procedures for organizations seeking classification as public charities, and guidance regarding the reporting of other information required on the annual return.

Announcement 2008–97, page 1010. The IRS has revoked its determination that Northern California Housing of Stockton, CA; 1st United Charitable Trust of Glendale, AZ; HarrisWelburn Company of Upper Marlboro, MD; Bond Endowment Fund, Inc., of Timonium, MD; and Northern Lights Jr. Drum & Bugle Corps Association of Vancouver, WA, qualify as organizations described in sections 501(c)(3) and 170(c)(2) of the Code.

ADMINISTRATIVE

Announcement 2008–96, page 1010. This document cancels a public hearing on proposed regulations (REG–143453–05, 2008–32 I.R.B. 310) under section 179B of the Code relating to the deduction of qualified capital costs paid or incurred by a small business refiner to comply with the highway diesel fuel sulfur control requirements of the Environmental Protection Agency.

Announcement 2008–102, page 1011. This document provides notice of a public hearing on October 30, 2008, on proposed regulations (REG–103146–08, 2008–37 I.R.B. 701) relating to the return and information statement requirements under section 6039 of the Code. The regulations reflect changes to section 6039 made by section 403 of the Tax Relief and Health Care Act of 2006. The regulations affect corporations that issue statutory stock options and provide guidance to assist corporations in complying with the return and information statement requirements under section 6039.

October 27, 2008 2008–43 I.R.B.