Bulletin No. 2008-49 — Internal Revenue Bulletin 2008-49

Rev. Proc. 2008–70, page 1240. Insurance companies; loss reserves; discounting unpaid losses. The loss payment patterns and discount factors are set forth for the 2008 accident year. These factors will be used for computing discount unpaid losses under section 846 of the Code. This procedure also corrects the discount factors for the Composite and International (Composite) lines of business for the 2006 and 2007 accident years in Rev. Proc. 2007–9, 2007–1 C.B. 278, and Rev. Proc. 2008–10, 2008–3 I.R.B. 290, for taxpayers that use the composite method of Notice 88–100, 1988–2 C.B. 439. Rev. Procs. 2007–9 and 2008–10 modified.

Rev. Proc. 2008–71, page 1251. Insurance companies; discounting estimated salvage re- coverable. The salvage discount factors are set forth for the 2008 accident year. These factors will be used for computing estimated salvage recoverable under section 832 of the Code.

Announcement 2008–117, page 1258. This document provides notice of a public hearing on proposed regulations (REG–155087–05, 2008–38 I.R.B. 726) relating to credits and payments for alcohol mixtures, biodiesel mixtures, renewable diesel mixtures, alternative fuel mixtures, and alternative fuel sold for use or used as a fuel, as well as proposed regulations relating to the definition of gasoline and diesel fuel. The public hearing is scheduled for February 9, 2009.

Announcements of Disbarments and Suspensions begin on page 1258. Finding Lists begin on page ii.