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.

SPECIAL ANNOUNCEMENT

Notice 2009–62, page 260. This notice addresses technical issues relating to certain filers of Form TD F 90–22.1 (Report of Foreign Bank and Financial Accounts (FBAR)) and provides temporary relief to those filers while formal guidance is developed. Specifically, the notice extends the due date for filing an FBAR for one year until June 30, 2010, for U.S. persons having signature authority over, but no financial interest in, a foreign financial account and for U.S. persons with a financial interest in, or signature authority over, foreign commingled funds. The notice also requests comments on the FBAR filing requirements by October 6, 2009.

INCOME TAX

Notice 2009–69, page 261. This notice clarifies the meaning of “disconnected youth” in Notice 2009–28, 2009–24 I.R.B. 1082. Notice 2009–28 clarified.

EMPLOYEE PLANS

Notice 2009–71, page 262. Special rules governing eligible combined plans. The Treasury Department and the Service plan to issue guidance relating to eligible combined plans under section 414(x) of the Code. Section 414(x) was added by section 903(a) of the Pension Protection Act of 2006 (PPA ’06) effective for plan years beginning after December 31, 2009, and amended by section 109(c) of the Worker, Retiree, and Employer Recovery Act of

Finding Lists begin on page ii. Index for July through August begins on page iv.