Part IV. Items — Internal Revenue Bulletin 2008-52

Deletions From Cumulative List of Organizations Contributions to Which are Deductible Under Section 170 of the Code

Announcement 2008–126

The Internal Revenue Service has revoked its determination that the organizations listed below qualify as organizations described in sections 501(c)(3) and 170(c)(2) of the Internal Revenue Code of 1986. Generally, the Service will not disallow deductions for contributions made to a listed organization on or before the date of announcement in the Internal Revenue Bulletin that an organization no longer qualifies. However, the Service is not precluded from disallowing a deduction for any contributions made after an organization ceases to qualify under section 170(c)(2) if the organization has not timely filed a suit for declaratory judgment under section 7428 and if the contributor (1) had knowledge of the revocation of the ruling or determination letter, (2) was aware that such revocation was imminent, or (3) was in part responsible for or was aware of the activities or omissions of the organization that brought about this revocation.

If on the other hand a suit for declaratory judgment has been timely filed, contributions from individuals and organizations described in section 170(c)(2) that are otherwise allowable will continue to be deductible. Protection under section 7428(c) would begin on December 29, 2008, and would end on the date the court first determines that the organization is not described in section 170(c)(2) as more particularly set forth in section 7428(c)(1). For individual contributors, the maximum deduction protected is $1,000, with a husband and wife treated as one contributor. This benefit is not extended to any individual, in whole or in part, for the acts or omissions of the organization that were the basis for revocation.

Peterson Family Foundation

Salt Lake City, UT A1 Credit Counseling, Inc.

Ft. Smith, AR

Nat Turner Legal Defense Fund

Garland, TX SOFLO Ballet, Inc.

Miramar, FL Family Health Services, Inc.

Bellefonte, PA Hometown Heroes Memorial

Organization, Inc. Landrum, SC ClearADebt, Inc.

Dania, FL Rapid Hope International

Hurst, TX Spanish Community

Yonkers, NY All Terrier Rescue Hunters Crossing

Aloha, OR Women Helping Women

Houston, TX Safe Haven Homes, Inc.

Hartland, MI AJH Housing

St. Louis, MO Restoration & Reconciliation

Outreach, Inc. Miami, FL Williams Peurifoy Personal Care

Home, Inc. Philadelphia, PA Capital Gymnastics Booster Club, Inc.

Springfield, GA

Information Reporting for Discharges of Indebtedness; Correction

Announcement 2008–127

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

SUMMARY: This document contains a correction to final and temporary regulations (T.D. 9430, 2008–48 I.R.B. 1205) that were published in the Fed- eral Register on Monday, November 10, 2008 (73 FR 66539) relating to information returns for cancellation of indebtedness by certain entities. The temporary regulations will avoid premature information reporting from certain businesses that are currently

required to report and will reduce the number of information returns required to be filed. The temporary regulations will impact certain lenders who are currently required to file information returns under the existing regulations.

EFFECTIVE DATE: This correction is effective December 11, 2008, and is applicable on November 10, 2008.

FOR FURTHER INFORMATION CONTACT: Barbara Pettoni, (202) 622–4910 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

The final and temporary regulations that are the subject of this document are under section 6050P of the Internal Revenue Code.

Need for Correction

As published, final and temporary regulations (T.D. 9430) contains an error that may prove to be misleading and is in need of clarification.

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Correction of Publication

Accordingly, 26 CFR part 1 is corrected by making the following correcting amendment:

PART 1—INCOME TAXES

Paragraph 1. The authority citation for part 1 continues to read, in part, as follows:

Authority: 26 U.S.C. 7805 * * * Par. 2. Section 1.6050P–1T is amended by revising an entry for (a) through (b)(2)(i)(G) [Reserved] as follows:

§ 1.6050P–1T Information reporting for discharges of indebtedness by certain entities (temporary).

(a) through (b)(2)(i)(G) [Reserved]. For further guidance, see § 1.6050P–1(a) through (b)(2)(i)(G).

December 29, 2008 1375 2008–52 I.R.B.

PART 301—PROCEDURE AND ADMINISTRATION

Paragraph 1. The authority citation for part 301 continues to read, in part, as follows:

Authority: 26 U.S.C. 7805 * * * Par. 2. Section 301.6111–1T A–30 is amended by revising the first sentence to read as follows:

§ 301.6111–1T Questions and answers relating to tax shelter registration .

- - - A–30. No. The performance of an act described in A–27 through A–29 of this section will not constitute participation in the organization or management of a tax shelter unless the person performing the act is related to the tax shelter (or any principal organizer of the tax shelter) or the person participates in the entrepreneurial risks or benefits of the tax shelter. - * *

Guy Traynor, Acting Chief, Publications

and Regulations Branch, Legal Processing Division,

Associate Chief Counsel (Procedure and Administration).

(Filed by the Office of the Federal Register on December 1, 2008, 8:45 a.m., and published in the issue of the Federal Register for December 2, 2008, 73 F.R. 73180)

LaNita Van Dyke, Chief, Publications and

Regulations Branch, Legal Processing Division,

Associate Chief Counsel (Procedure and Administration).

(Filed by the Office of the Federal Register on December 10, 2008, 8:45 a.m., and published in the issue of the Federal Register for December 11, 2008, 73 F.R. 75326)

Procedure and Administration; Tax Shelter Registration; Correction

Announcement 2008–128

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

SUMMARY: This document contains a correction to temporary regulations (T.D. 7964, 1982–2 C.B. 263) that were published in the Federal Register on Wednesday, August 15, 1984 (49 FR 32712) relating to tax shelter registration. In addition, the text of the temporary regulations set forth in this document also serves as the text of the proposed regulations cross-referenced in the Notice of Proposed Rulemaking in the Proposed Rules section of that issue of the Federal Register . Changes to the applicable tax law were made by the Tax Reform Act of 1984. The regulations affect organizers, sellers, investors and certain other persons

associated with investments that are considered tax shelters.

DATES: This correction is effective December 2, 2008, and is applicable after August 31, 1984.

FOR FURTHER INFORMATION CONTACT: Charles D. Wien, (202) 622–3070 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

The temporary regulations that are the subject of this document are under sections 6707 and 6111 of the Internal Revenue Code prior to The American Jobs Creation Act of 2004, Public Law 108–357 (118 Stat. 1418), which was enacted on October 22, 2004.

Need for Correction

As published, temporary regulations (T.D. 7964) contain an error that may prove to be misleading and is in need of clarification.

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Correction of Publication

Accordingly, 26 CFR part 301 is corrected by making the following correcting amendment:

2008–52 I.R.B. 1376 December 29, 2008