HIGHLIGHTS OF THIS ISSUE

These synopses are intended only as aids to the reader in identifying the subject matter covered. They may not be relied upon as authoritative interpretations.

ADMINISTRATIVE

Rev. Proc. 2009–18, page 670. This procedure provides issuers of qualified mortgage bonds (QMBs) and qualified mortgage credit certificates (MCCs) with average area purchase price safe harbors for statistical areas in the United States and with a nationwide average purchase price for residences in the United States for purposes of the QMB rules under section 143 of the Code and the MCC rules under section 25. Rev. Proc. 2008–17 obsoleted in part.

Announcement 2009–12, page 686. This document contains corrections to temporary regulations (T.D. 9439, 2009–5 I.R.B. 416) that relate to disclosure of information to the Bureau of Economic Analysis. The regulations inadvertently removed section 301.6103(j)(1)–1T in its entirety. This document correctly adds the text of section 301.6103(j)(1)–1T into the Code of Federal Regulations.

Announcement 2009–13, page 686. This document contains corrections to final regulations (T.D. 9442, 2009–6 I.R.B. 434) providing guidance regarding the treatment of transactions involving obligations between members of a consolidated group.

Announcement 2009–14, page 687. This document contains a correction to proposed regulations (REG–148326–05, 2008–51 I.R.B.1325) providing guidance on the calculation of amounts includible in income under section 409A(a) of the Code and the additional taxes imposed by such section with respect to service providers participating in certain nonqualified deferred compensation plans.

Announcements of Disbarments and Suspensions begin on page 691. Finding Lists begin on page ii.