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. 2012–31, page 636. Federal rates; adjusted federal rates; adjusted federal long-term rate and the long-term exempt rate. For purposes of sections 382, 642, 1274, 1288, and other sections of the Code, tables set forth the rates for December 2012.

Rev. Proc. 2012–44, page 645. Insurance companies; loss reserves; discounting unpaid losses. The loss payment patterns and discount factors are set forth for the 2012 accident year. These factors will be used for computing discounted unpaid losses under section 846 of the Code.

Rev. Proc. 2012–45, page 656. Insurance companies; discounting estimated salvage re- coverable. The salvage discount factors are set forth for the 2012 accident year. These factors will be used for computing discounted estimated salvage recoverable under section 832 of the Code.

EMPLOYEE PLANS

Notice 2012–66, page 639. 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 November 2012; the 24-month average segment rates; the funding transitional segment rates applicable for November 2012; and the minimum present value transitional rates for October 2012. The rates in this notice reflect certain changes implemented by the Moving Ahead for Progress in the 21st Century Act, Public Law 112–141 (MAP–21).

Announcements of Disbarments and Suspensions begin on page 664. Finding Lists begin on page ii.