INCOME TAX

Notice 2008–104, page 1298. This notice provides additional transition relief with respect to the use of debit cards for medical expense reimbursements at stores with the Drug Stores and Pharmacies merchant category code. Notice 2007–2 modified.

Notice 2008–111, page 1299. This notice clarifies Notice 2001–16, 2001–1 C.B. 730, and supersedes Notice 2008–20, 2008–6 I.R.B. 406, regarding Intermediary Transaction Tax Shelters. A transaction is treated as an Intermediary Transaction with respect to a particular person only if that person engages in the transaction pursuant to a plan, the transaction contains the four objective components indicative of an Intermediary Transaction, and no safe harbor exception applies to that person. Notice 2001–16 clarified. Notice 2008–20 superseded.