Rev. Rul. 2006-37(HTML)
Low-income housing credit; satisfactory bond; "bond
factor" amounts for the period January through September
2006. This ruling provides the monthly bond factor
amounts to be used by taxpayers who dispose of qualified
low-income buildings or interests therein during the period
January through September 2006.
Final, temporary, and proposed regulations provide guidance
under sections 6038 and 6038A of the Code. The final regulations
under section 1.6038-2 are revised to remove and
replace obsolete references to a form and IRS offices. The regulations
clarify the information required to be furnished regarding
certain related party transactions of certain foreign corporations
and certain foreign-owned domestic corporations. The
regulations also increase the amount of certain penalties, and
make certain other changes, to reflect the statutory changes
made by the Taxpayer Relief Act of 1997.
Final regulations under section 382 of the Code provide guidance
on whether a loss corporation has an owner shift where a
qualified trust described in section 401(a) distributes an ownership
interest in an entity.
Weighted average interest rate update; 30-year Treasury
securities. The weighted average interest rate for July
2006 and the resulting permissible range of interest rates used
to calculate current liability and to determine the required contribution
are set forth.
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