ADMINISTRATIVE

T.D. 9433, page 1263. Final regulations under section 7701 of the Code add an entity to the list of foreign business entities that are always classified as corporations. This entity is not eligible to check the box to change its classification.

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Announcement 2008–119, page 1295. This announcement contains clarification to filing procedures in Publication 1187 for Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding, filed electronically. These changes are effective immediately. Rev. Proc. 2008–44 clarified.

Announcement 2008–121, page 1296. This document provides notice of a public hearing on proposed regulations (REG–106251–08, 2008–39 I.R.B. 774) relating to options granted under an employee stock purchase plan as defined in section 423 of the Code. These proposed regulations affect certain taxpayers who participate in the transfer of stock pursuant to the exercise of options granted under an employee stock purchase plan. The public hearing is scheduled for January 15, 2009.

December 15, 2008 2008–50 I.R.B.