Bulletin No. 2017–42 October 16, 2017

Notice 2017–57, page 324. This notice announces that Treasury and IRS intend to amend regulations under section 987 to delay the applicability date of the final section 987 regulations and certain temporary section 987 regulations by 1 year. The Treasury Department and the IRS intend to amend §§1.861–9T, 1.985–5, 1.987–11, 1.987–1T through 1.987–4T, 1.987–6T, 1.987–7T, 1.988–1, 1.988–1T, 1.988–4, and 1.989(a)–1 to provide that the final regulations and the related temporary regulations will apply to taxable years beginning on or after two years after the first date of the first taxable year following December 7, 2016. Before the issuance of the amendments to the final section 987 regulations and the related temporary regulations, taxpayers may rely on the provisions of this Notice regarding those proposed amendments.

Notice 2017–58, page 326. Notice 2017–58 extends the due date for participants to file disclosures under § 1.6011–4(e)(2)(i) of the Income Tax Regulations pursuant to IRS Notice 2017–10, from October 2, 2017, until October 31, 2017.

REG–128841–07, page 327. Under §147(f) of the Code, a private activity bond is not tax-exempt if it is not approved by both the governmental unit issuing the bond and the governmental unit in which the financed property will be located. This project proposes rules that would update the existing regulations, located in §5f.103– 2, to address changes in the Code and to provide issuers of private activity bonds additional flexibility in satisfying the approval requirement. This project also withdraws a notice of proposed rulemaking on the same topic published in 2008.