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. 9518, page 710. Final regulations relate to the requirement for “specified tax return preparers,” generally tax return preparers who reasonably expect to file more than 10 individual income tax returns in a calendar year (100 or more in 2011), to file individual income tax returns using magnetic media (electronically) pursuant to section 6011(e)(3) of the Code.

Notice 2011–26, page 720. This notice informs tax return preparers of administrative exemptions from the electronic filing requirement under section 6011(e)(3) of the Code and regulation sections 1.6011–7 and 301.6011–7.

Notice 2011–27, page 723. Solely for calendar year 2011, this notice provides transitional guidance relating to the new electronic filing requirement under section 6011(e)(3) of the Code and corresponding regulations, specifically regarding the filing restrictions placed upon specified tax return preparers by that Code section and regulation section 301.6011–7(a)(4)(i). The notice allows a specified tax return preparer to mail any individual income tax returns in paper format to the IRS, at the request of a taxpayer, if the preparer obtains a signed statement containing the taxpayer’s choice to have the return filed in paper format, and the taxpayer’s request to have the preparer mail the return to the IRS.

Notice 2011–30, page 724. 2010 nonconventional source fuel credit, section 45K inflation adjustment factor, and section 45K reference price. This notice announces the inflation adjustment factor, the reference price, and the credit amount for the nonconven

Finding Lists begin on page ii. Index for January through April begins on page v.