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.

INCOME TAX

T.D. 9456, page 188. Final regulations under section 482 of the Code provide guidance regarding the treatment of controlled services transactions and the allocation of income and deductions from intangible property, in particular with respect to contributions by a controlled party to the value of intangible property owned by another controlled party. The regulations also modify the regulations under section 861 concerning stewardship expenses to be consistent with the changes made to the regulations under section 482.

REG–113289–08, page 244. Proposed regulations under section 330 of title 31 propose modifications to section 10.27 of Circular 230 governing practice before the Internal Revenue Service. Notice 2008–43 obsoleted. A public hearing is scheduled for November 9, 2009.

EXEMPT ORGANIZATIONS

Announcement 2009–61, page 246. The IRS has revoked its determination that Frank and Nora Harty Center of Staten Island, Inc., of Staten Island, NY; Higgs Carter King, Inc., of San Antonio, TX; World Orphanage and Refugee Relief Foundation, Inc., of Ft. Lauderdale, FL; Triple EEE of Long Beach, CA; American Budget Credit Debt Services, Inc., of Spring Valley, NY; Craig Family Foundation of Chicago, IL; Aloha Consumer Credit Counseling Service of Kaneohe, HI; Charity Neighborhood Auxiliary of Brooklyn, NY; Lamar Dixon Expo Foundation of Prairieville, LA; Reno & BJ Foundation of Detroit, MI; Reading Enhancement and Development of Tumwater, WA; First Foundation of Petersburg,

Announcements of Disbarments and Suspensions begin on page 248. Finding Lists begin on page ii.