INCOME TAX

T.D. 9450, page 1073. Final regulations under section 6045 of the Code provide guidance regarding the information reporting requirements on sales or exchanges of standing timber for lump-sum payments.

Notice 2009–28, page 1082. This notice provides guidance to employers that seek to claim the work opportunity credit for either of two new targeted groups of employees added to section 51 of the Code in the American Recovery and Reinvestment Tax Act of 2009.

Notice 2009–47, page 1083. This notice would propose a safe harbor for contracts with a maturity age of 100, which are intended to qualify as life insurance contracts under section 7702 of the Code and avoid characterization as an MEC under section 7702A, provided the contract complies with certain testing methodologies set out in the notice. The notice also asks for comments on several issues related to the use of an age 100 maturity.

Notice 2009–48, page 1085. This notice provides guidance under section 101(j) of the Code in the form of questions and answers concerning what entities are subject to the information reporting required for employer-owned life insurance contracts and how those entities can provide that information. Section 101(j) was added to the Code by the Pension Protection Act of 2006 to ensure that employees whose lives are insured by their employers are adequately informed of that coverage and its consequences. Section 6039I sets forth corresponding reporting obligations applicable to those employers who obtain life insurance coverage on their employees.

Finding Lists begin on page ii.