ADMINISTRATIVE

Notice 2012–75, page 715. Application of general welfare exclusion to Indian tribal government programs. This notice proposes a revenue procedure that would provide safe harbors under section 61 of the Code for applying the general welfare exclusion to Indian tribal government programs. Comments are requested by June 4, 2013.

Rev. Proc. 2012–51, page 719. This procedure updates Rev. Proc. 2012–15, 2012–7 I.R.B. 369, and identifies circumstances under which the disclosure on a taxpayer’s income tax return with respect to an item or position is adequate for the purpose of reducing the understatement of income tax under section 6662(d) of the Code. Rev. Proc. 2012–15 updated.

Announcement 2012–48, page 729. This announcement contains corrections and an addition to Publication 1179, General Rules and Specifications for Sub- stitute Forms 1096, 1098, 1099, 5498, and Certain Other Information Returns. Rev. Proc. 2012–38 corrected.

December 17, 2012 2012–51 I.R.B.