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. 9551, page 774. Final regulations under section 181 of the Code provide rules that relate to deductions for the costs of producing qualified film and television productions. The regulations reflect changes to the law made by the American Jobs Creation Act of 2004 and the Gulf Opportunity Zone Act of 2005, and affect persons that produce film and television productions within the United States.

T.D. 9552, page 783. REG–146297–09, page 795. Final, temporary, and proposed regulations under section 181 of the Code relate to deductions for the costs of producing qualified film and television productions that are specific to productions commending after December 31, 2007.

Rev. Proc. 2011–55, page 793. This procedure announces where certain state housing finance agencies and HUD should send to the IRS the information required by Notice 2011-14, 2011-11 I.R.B. 544. This procedure also advises those agencies and HUD of Form 1098-MA, Mort- gage Assistance Payments, which they may, at their option, use to provide to homeowners and the IRS the information required by Notice 2011-14.

EMPLOYEE PLANS

Notice 2011–90, page 791. 2012 cost-of-living adjustments; retirements plans, etc. This notice sets forth certain cost-of-living adjustments effective January 1, 2012, applicable to the dollar limitations on ben