Final regulations under section 45D of the Code relate to how an entity serving certain targeted populations can meet the requirements to be a qualified active low-income community business for the new markets tax credit.

Proposed regulations under section 6045 of the Code modify information reporting requirements for a broker, transfer reporting requirements under section 6045A, and issuer statement requirements under section 6045B to cover debt instruments and options. A public hearing is scheduled for March 16, 2012.

This notice provides for the suspension of certain requirements under section 42 of the Code for low-income housing credit projects in Iowa in order to provide emergency housing relief needed as a result of the devastation in Iowa caused by flooding during the period of May 25, 2011, to August 1, 2011.

This notice provides a proposed revenue procedure that will update Rev. Proc. 2003-61, 2003-2 C.B. 296, which provides guidance regarding equitable relief from joint and several liability under section 6015(f) of the Code. Rev. Proc. 2003-61 superseded.