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

Rev. Rul. 2012–22, page 565. 2012 base period T-bill rate. The “base period T-bill rate” for the period ending September 30, 2012, is published, as required by section 995(f) of the Code.

Notice 2012–68, page 574. This notice provides for the suspension of certain requirements under section 42 of the Code for low-income housing credit projects to provide emergency housing relief needed as a result of the devastation caused by Hurricane Sandy.

Rev. Proc. 2012–38, page 575. General rules and specifications for substitute forms 1096, 1098, 1099, 5498, and certain other informa- tion returns. This procedure provides specifications for the private printing of red-ink substitutes for the 2012 revisions of certain information returns. This procedure will be reproduced as the next revision of Publication 1179. Rev. Proc. 2011–60 superseded.

Announcement 2012–39, page 635. This document cancels a public hearing on proposed regulations (REG–136491–09, 2012–35 I.R.B. 321) under section 42 of the Code; relating to the utility allowance regulations.

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