Internal Revenue Bulletin: 2007-34
August 20, 2007
Proposed regulations under section 6404 of the Code concern the suspension of interest, penalties, additions to tax, or additional amounts under section 6404(g) and explain the general rules for suspension as well as exceptions to those general rules. A public hearing is scheduled for October 11, 2007.
2007 Section 43 inflation adjustment factor. This notice announces the inflation adjustment factor and phase-out amount for the enhanced oil recovery credit for the 2007 calendar year.
2007 marginal production rates. The notice announces the applicable percentage under section 613A of the Code to be used in determining percentage depletion for marginal properties for the 2007 calendar year.
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