INCOME TAX

Notice 2017–62, page 460. This notice provides that the IRS will not assert that cash payments an employer makes to § 170(c) organizations (in exchange for vacation, sick, or personal leave that its employees elect to forgo) constitute gross income or wages of the employees under certain circumstances relating to Hurricane or Tropical Storm Maria.

Notice 2017–63, page 460. This notice sets forth updates on the corporate bond monthly yield curve, the corresponding spot segment rates for October 2017 used under § 417(e)(3)(D), the 24-month average segment rates applicable for October 2017, and the 30-year Treasury rates. These rates reflect the application of § 430(h)(2)(C)(iv), which was added by the Moving Ahead for Progress in the 21st Century Act, Public Law 112–141 (MAP–21) and amended by section 2003 of the Highway and Transportation Funding Act of 2014 (HATFA).