Bulletin No. 2018–40 October 1, 2018

REV. PROC. 2018–48, page 521. This revenue procedure provides guidance for real estate investment trusts (REITs) regarding the treatment of certain foreign income inclusions for purposes of the 95 percent gross income qualification test of section 856(c)(2) of the Internal Revenue Code.

Notice 2018–72, page 522. This Notice announces that Treasury and the IRS intent to amend regulations under section 871(m) to delay the effective/ applicability date of certain rules in those final regulations. This Notice also extends the phase-in period provided in Notice 2017–42, 2017–34 I.R.B. 212, and Notice 2018–5, 2018–6.