INCOME TAX

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.

Notice 2008–107, page 1265. This notice provides adjusted limitations on housing expenses for tax year 2008 for purposes of section 911 of the Code.

Notice 2008–109, page 1282. This notice provides guidance with respect to state volume limits under section 1400N that are applicable to (1) allocations of the low-income housing tax credit in the Midwestern and Hurricane Ike disaster areas, (2) the issuance of tax-exempt bonds for the Midwestern and Hurricane Ike disaster areas, and (3) the issuance of tax credit bonds for the Midwestern disaster areas. These provisions were enacted as part of the Tax Extenders and Alternative Minimum Tax Relief Act of 2008. The notice provides a list of the counties that qualify as Midwestern or Hurricane Ike disaster areas and provides the portion of the state population located in the disaster or other relevant areas for purposes of determining the volume limits applicable to each of these provisions. The notice also provides instructions for reporting the issuance of Midwestern and Hurricane Ike tax-exempt and tax credit bonds.

Rev. Proc. 2008–72, page 1286. 2009 optional standard mileage rates. This procedure announces 55 cents as the optional rate for deducting or accounting for expenses for business use of an automobile, 14 cents as the optional rate for use of an automobile as a charitable contribution, and 24 cents as the optional rate for use of an

Finding Lists begin on page ii.