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

REG–109369–10, page 434. Proposed regulations under section 469 of the Code provide guidance regarding the definition of an “interest in a limited partnership as a limited partner” for purposes of determining whether a taxpayer materially participates in an activity.

Notice 2012–13, page 421. This notice provides guidance for employers that seek to claim the Work Opportunity Tax Credit (WOTC) for hiring veterans. The notice also provides information on alternative methods for filing Form 8850 with the Department of Labor/Designated Local Agencies. Announcement 2002–44 supplemented.

Notice 2012–15, page 424. This notice addresses the application of section 367 of the Code to transfers of stock subject to section 304.

EMPLOYEE PLANS

Notice 2012–16, page 427. Weighted average interest rate update; corporate bond indices; 30-year Treasury securities; segment rates. This notice contains updates for the corporate bond weighted average interest rate for plan years beginning in February 2012; the 24-month average segment rates; the funding transitional segment rates applicable for February 2012; and the minimum present value transitional rates for January 2012.

Finding Lists begin on page ii. Index for January through February begins on page iv.