Internal Revenue Bulletin 2007-13 (PDF rendition): IRS Revenue Procedures

Preserve advance releases and the authoritative Internal Revenue Bulletin rendition; directory timestamps are file-publication metadata, not legal effective dates. HTML bulletins begin June 2003; earlier available issues require full PDF parsing. Whole bulletin rendition: numbered items are identified below; other legal material and publisher context remain included. This is not a new standalone advance release.

Bulletin No. 200
7-13
March 26, 2007
HIGHLIGHTS
OF THIS ISSUE
These synopses are intended only as aids to the reader in
identifying the subject matter covered. They may not be
relied upon as authoritative interpretations.
INCOME TAX
Rev. Rul. 2007–16, page 807.
Interest rates; underpayments and overpayments.The
rate of interest determined under section 6621 of the Code
for the calendar quarter beginning April 1, 2007, will be 8 per-
cent for overpayments (7 percent in the case of a corporation),
8 percent for underpayments, and 10 percent for large corpo-
rate underpayments. The rate of interest paid on the portion of
a corporate overpayment exceeding $10,000 will be 5.5 per-
cent.
Rev. Rul.
2007–17, page 805.
Fringe be
nefits aircraft valuation formula.The Standard
Industry
Fare Level (SIFL) cents-per-mile rates and terminal
charge in
effect for the first half of 2007 are set forth for
purposes
of determining the value of noncommercial flights
on emplo
yer-provided aircraft under section 1.61–21(g) of the
regulat
ions.
Rev. Rul. 2007–18, page 806.
LIFO; price indexes; department stores.The January
2007 Bureau of Labor Statistics price indexes are accepted
for use by department stores employing the retail inventory
and last-in, first-out inventory methods for valuing inventories
for tax years ended on, or with reference to, January 31,
2007.
T.D. 9313, page 805.
REG–157834–06, page 840.
Temporary and proposed regulations under section 368 of the
Code provide additional guidance regarding the qualification
of certain transactions as reorganizations described in section
368(a)(1)(D) where no stock and/or securities of the acquiring
corporation is issued and distributed in the transaction.
EMPLOYEE PLANS
Notice 2007–27, page 814.
Weighted average interest rate update; corporate bond
indices; 30-year Treasury securities.The weighted aver-
age interest rate for March 2007 and the resulting permissible
range of interest rates used to calculate current liability and to
determine the required contribution are set forth.
EXEMPT OR
GANIZATIONS
Announce
ment 2007–33, page 841.
Alistisp
rovided of organizations now classified as private foun-
dations.
Announcement 2007–34, page 842.
The IRS has revoked its determination that American Education
Foundation International of San Francisco, CA, and Ladder 12
Firefighters Fund, Inc., of New York, NY, qualify as organizations
described in sections 501(c)(3) and 170(c)(2) of the Code.
ADMINISTRATIVE
Rev. Proc. 2007–26, page 814.
This procedure provides issuers of qualified mortgage bonds
(QMBs) and qualified mortgage credit certificates (MCCs) with
average area purchase price safe harbors for statistical areas
in the United States and with a nationwide average purchase
price for residences in the United States for purposes of the
QMB rules under section 143 of the Code and the MCC rules
under section 25. Rev. Proc. 2006–17 obsoleted in part.
A
ctions Relating to Court Decisions is on the page following the Introduction.
Finding Lists begin on page ii.
Index for January through March begins on page v.

The IRS Mission
Provide America’s taxpayers top quality service by helping
them understand and meet their tax responsibilities and by
applying the tax law with integrity and fairness to all.
Introduction
The Internal Revenue Bulletin is the authoritative instrument of
the Commissioner of Internal Revenue for announcing official
rulings and procedures of the Internal Revenue Service and for
publishing Treasury Decisions, Executive Orders, Tax Conven-
tions, legislation, court decisions, and other items of general
interest. It is published weekly and may be obtained from the
Superintendent of Documents on a subscription basis. Bulletin
contents are compiled semiannually into Cumulative Bulletins,
which are sold on a single-copy basis.
It is the policy of the Service to publish in the Bulletin all sub-
stantive rulings necessary to promote a uniform application of
the tax laws, including all rulings that supersede, revoke, mod-
ify, or amend any of those previously published in the Bulletin.
All published rulings apply retroactively unless otherwise indi-
cated. Procedures relating solely to matters of internal man-
agement are not published; however, statements of internal
practices and procedures that affect the rights and duties of
taxpayers are published.
Revenue rulings represent the conclusions of the Service on the
application of the law to the pivotal facts stated in the revenue
ruling. In those based on positions taken in rulings to taxpayers
or technical advice to Service field offices, identifying details
and information of a confidential nature are deleted to prevent
unwarranted invasions of privacy and to comply with statutory
requirements.
Rulings and procedures reported in the Bulletin do not have the
force and effect of Treasury Department Regulations, but they
may be used as precedents. Unpublished rulings will not be
relied on, used, or cited as precedents by Service personnel in
the disposition of other cases. In applying published rulings and
procedures, the effect of subsequent legislation, regulations,
court decisions, rulings, and procedures must be considered,
and Service personnel and others concerned are cautioned
against reaching the same conclusions in other cases unless
the facts and circumstances are substantially the same.
The Bulletin is divided into four parts as follows:
Part I.—19
86 Code.
This part i
ncludes rulings and decisions based on provisions of
the Intern
al Revenue Code of 1986.
Part II.—Treaties and Tax Legislation.
This part is divided into two subparts as follows: Subpart A,
Tax Conventions and Other Related Items, and Subpart B, Leg-
islation and Related Committee Reports.
Part III.—Administrative, Procedural, and Miscellaneous.
To the extent practicable, pertinent cross references to these
subjects are contained in the other Parts and Subparts. Also
included in this part are Bank Secrecy Act Administrative Rul-
ings. Bank Secrecy Act Administrative Rulings are issued by
the Department of the Treasury’s Office of the Assistant Sec-
retary (Enforcement).
Part IV
.—Items of General Interest.
This par
t includes notices of proposed rulemakings, disbar-
ment an
d suspension lists, and announcements.
The last Bulletin for each month includes a cumulative index
for the matters published during the preceding months. These
monthly indexes are cumulated on a semiannual basis, and are
published in the last Bulletin of each semiannual period.
The c
ontents of this publication are not copyrighted and may be reprinted freely. A citation of the Internal Revenue Bulletin as the source would be appropriate.
For sale by the Superintendent of Documents, U.S.Government Printing Office, Washington, DC 20402.
March 26, 20072007–13 I.R.B.

Actions Relating to Decisions of the Tax Court
It is the policy of the Internal Rev-
enue Service to announce at an early date
whether it will follow the holdings in cer-
tain cases. An Action on Decision is the
document making such an announcement.
An Action on Decision will be issued at
the discretion of the Service only on unap-
pealed issues decided adverse to the gov-
ernment. Generally, an Action on Decision
is issued where its guidance would be help-
ful to Service personnel working with the
same or similar issues. Unlike a Treasury
Regulation or a Revenue Ruling, an Action
on Decision is not an affirmative statement
of Service position. It is not intended to
serve as public guidance and may not be
cited as precedent.
Actions on Decisions shall be relied
upon within the Service only as conclu-
sions applying the law to the facts in the
particular case at the time the Action on
Decision was issued. Caution should be
exercised in extending the recommenda-
tion of the Action on Decision to similar
cases where the facts are different. More-
over, the recommendation in the Action on
Decision may be superseded by new legis-
lation, regulations, rulings, cases, or Ac-
tions on Decisions.
Prior to 1991, the Service published
acquiescence or nonacquiescence only in
certain regular Tax Court opinions. The
Service has expanded its acquiescence
program to include other civil tax cases
where guidance is determined to be help-
ful. Accordingly, the Service now may
acquiesce or nonacquiesce in the holdings
of memorandum Tax Court opinions, as
well as those of the United States District
Courts, Claims Court, and Circuit Courts
of Appeal. Regardless of the court decid-
ing the case, the recommendation of any
Action on Decision will be published in
the Internal Revenue Bulletin.
The recommendation in every Action
on Decision will be summarized as ac-
quiescence, acquiescence in result only,
or nonacquiescence. Both “acquiescence”
and “acquiescence in result only” mean
that the Service accepts the holding of
the court in a case and that the Service
will follow it in disposing of cases with
the same controlling facts. However, “ac-
quiescence” indicates neither approval
nor disapproval of the reasons assigned
by the court for its conclusions; whereas,
“acquiescence in result only” indicates
disagreement or concern with some or all
of those reasons. “Nonacquiescence” sig-
nifies that, although no further review was
sought, the Service does not agree with
the holding of the court and, generally,
will not follow the decision in disposing
of cases involving other taxpayers. In
reference to an opinion of a circuit court
of appeals, a “nonacquiescence” indicates
that the Service willnot follow the hold-
ing on a nationwide basis. However, the
Service will recognize the precedential
impact of the opinion on cases arising
within the venue of the deciding circuit.
The Actions on Decisions published in
the weekly Internal Revenue Bulletin are
consolidated semiannually and appear in
the first Bulletin for July and the Cumula-
tive Bulletin for the first half of the year. A
semiannual consolidation also appears in
the first Bulletin for the following January
and in the Cumulative Bulletin for the last
half of the year.
The Commissioner does NOT ACQUI-
ESCE in the following decision:
Moore v. Commissioner,
1
T.C. Memo. 2006–171,
T.C. Docket No. 11634–05L
1
Nonacquiescence relating to whether prohibitedex partecommunications during a collection due process hearing before the Office of Appeals may be remedied by sharing the content of
the communications with the taxpayer and allowing the taxpayer an opportunity to respond.
2007–13 I.R.B.March 26, 2007

Place missing child here.
March 26, 20072007–13 I.R.B.

Part I. Rulings and Decisions Under the Internal Revenue Code
of 1986
Section 61.—Gross Income
Defined
26 CFR 1.61–21: Taxation of fringe benefits.
Fringe benefits aircraft valuation for-
mula.The Standard Industry Fare Level
(SIFL) cents-per-mile rates and terminal
charge in effect for the first half of 2007
are set forth for purposes of determining
the value of noncommercial flights on
employer-provided aircraft under section
1.61–21(g) of the regulations.
Rev. Rul. 2007–17
For purposes of the taxation of fringe
benefits under section 61 of the Inter-
nal Revenue Code, section 1.61–21(g) of
the Income Tax Regulations provides a
rule for valuing noncommercial flights
on employer-provided aircraft. Section
1.61–21(g)(5) provides an aircraft valua-
tion formula to determine the value of such
flights. The value of a flight is determined
under the base aircraft valuation formula
(also known as the Standard Industry Fare
Level formula or SIFL) by multiplying
the SIFL cents-per-mile rates applicable
for the period during which the flight was
taken by the appropriate aircraft multiple
provided in section 1.61–21(g)(7) and then
adding the applicable terminal charge. The
SIFL cents-per-mile rates in the formula
and the terminal charge are calculated by
the Department of Transportation and are
reviewed semi-annually.
The following chart sets forth the termi-
nal charge and SIFL mileage rates:
Period During Which
the Flight Is Taken
Terminal
Charge
SIFL Mileage
Rates
1/1/07 - 6/30/07
$37.92
Up to 500 miles
= $.2075 per mile
501–1500 miles
= $.1582 per mile
Over 1500 miles
= $.1521 per mile
DRAFTING INFORMATION
The principal author of this revenue
ruling is Kathleen Edmondson of the
Office of Division Counsel/Associate
Chief Counsel (Tax Exempt/Govern-
ment Entities). For further information
regarding this revenue ruling, contact
Ms. Edmondson at (202) 622–0047 (not a
toll-free call).
Section 368.—Definitions
Relating to Corporate
Reorganizations
26 CFR 1.368–2T: Definition of terms (temporary).
T.D. 9313
DEPARTMENT OF
THE TREASURY
Internal Revenue Service
26 CFR Part 1
Corporate Reorganizations;
Additional Guidance on
Distributions Under Sections
368(a)(1)(D) and 354(b)(1)(B)
AGENCY: Internal Revenue Service
(IRS), Treasury.
ACTION: Temporary regulations.
SUMMARY: This document con-
tains temporary regulations amending
§1.368–2T(l), which provides guidance
regarding the qualification of certain
transactions as reorganizations described
in section 368(a)(1)(D) where no stock
and/or securities ofthe acquiring corpo-
ration are issued and distributed in the
transaction. These regulations clarify that
the rules in §1.368–2T(l) are not intended
to affect the qualification of related party
triangular asset acquisitions as reorgani-
zations described in section 368. These
regulations affect corporations engaging
in such transactionsand their sharehold-
ers. The text of the temporary regulations
also serves as the text of the proposed
regulations (REG–157834–06) set forth in
the notice of proposed rulemaking on this
subject in this issue of the Bulletin.
DATES:Effective Date:These regulations
are effective on March 1, 2007.
Applicability Date:For dates of appli-
cability, see §1.368–2T(l)(4)(i).
FOR FURTHER INFORMATION
CONTACT: Bruce A. Decker at (202)
622–7550 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
On December 19, 2006, the IRS and
Treasury Department published temporary
regulations (T.D. 9303, 2007–5 I.R.B.
379) under §1.368–2T(l) in theFederal
Register(71 FR 75879) providing guid-
ance regarding the qualification of certain
transactions as reorganizations described
in section 368(a)(1)(D) where no stock
and/or securities of the acquiring corpo-
ration are issued and distributed in the
transaction. Under the temporary regu-
lations, in cases where it is determined
that the same person or persons own, di-
rectly or indirectly, all of the stock of
the transferor and transferee corporations
in identical proportions, the distribution
2007–13 I.R.B.805March 26, 2007

requirement under sections 368(a)(1)(D)
and 354(b)(1)(B) will be treated as sat-
isfied even though no stock is actually
issued in the transaction.
In each case where it is determined that
the same person or persons own all of the
stock of the transferor and transferee cor-
porations in identical proportions, a nomi-
nal share of stock of the transferee corpo-
ration will be deemed issued in addition to
the actual consideration exchanged in the
transaction. The nominal share of stock
in the transferee corporation will then be
deemed distributed by the transferor cor-
poration to its shareholders and, in appro-
priate circumstances, further transferred to
the extent necessary to reflect the actual
ownership of the transferor and transferee
corporations.
The IRS and Treasury Department have
become aware that the temporary regula-
tions may have unintended consequences
regarding related party triangular asset ac-
quisitions otherwise qualifying under sec-
tion 368. Specifically, the temporary regu-
lations may cause certain related party as-
set acquisitions that would otherwise qual-
ify as tax-free triangular reorganizations to
be treated as reorganizations described in
section 368(a)(1)(D) with boot.
For example, the temporary regula-
tions may cause a related party transac-
tion that would otherwise qualify as a
tax-free reorganization described in sec-
tion 368(a)(1)(C) in which substantially
all of the target corporation’s properties
are acquired solely in exchange for vot-
ing stock of the corporation in control
of the acquiring corporation to also be
describedinsection368(a)(1)(D).Ifso,
section 368(a)(2)(A) would preclude the
transaction from being treated as described
in section 368(a)(1)(C). Accordingly, the
transaction would be treated as described
only in section 368(a)(1)(D), and the vot-
ing stock of the corporation in control
of the acquiring corporation would be
treated as boot. Further, the temporary
regulations may cause a related party
transaction that would otherwise qualify
as a tax-free reorganization described in
section 368(a)(1)(A) by reason of section
368(a)(2)(D) from so qualifying because
the deemed issuance of a nominal share
of stock of the acquiring corporation
would violate the requirements of sec-
tion 368(a)(2)(D)(i). If so, the transaction
would be treated as described only in sec-
tion 368(a)(1)(D), and the stock of the
corporation in control of the acquiring
corporation wouldbe treated as boot.
The IRS and Treasury Department did
not intend for the temporary regulations to
applytosuchtransactions.
Explanation of Provisions
These temporary regulations clarify
and amend the temporary regulations
(T.D. 9303) under §1.368–2T(l) by pro-
viding that the deemed issuance of the
nominal share of stock of the transferee
corporation in a transaction otherwise de-
scribed in section 368(a)(1)(D) does not
apply if the transaction otherwise qualifies
as a triangular reorganization described
in §1.358–6(b)(2) or section 368(a)(1)(G)
by reason of section 368(a)(2)(D). Ac-
cordingly, if a transaction qualifies as
a triangular reorganization described in
§1.358–6(b)(2) or section 368(a)(1)(G)
by reason of section 368(a)(2)(D) with-
out regard to the temporary regulations,
it will not be treated as a reorganization
described in section 368(a)(1)(D).
Special Analyses
It has been determined that this Trea-
sury decision is not a significant regula-
tory action as defined in Executive Order
12866. Therefore, a regulatory assessment
is not required. It also has been deter-
mined that section 553(b) of the Admin-
istrative Procedure Act (5 U.S.C. chapter
5) does not apply to these regulations. For
the applicability of the Regulatory Flexi-
bility Act, please refer to the cross-refer-
ence notice of proposed rulemaking pub-
lished elsewhere in this issue of the Bul-
letin. Pursuant to section 7805(f) of the
Internal Revenue Code, these regulations
were submitted to the Chief Counsel for
Advocacy of the Small Business Admin-
istration for comment on their impact on
small business.
Drafting Information
The principal author of these regula-
tions is Bruce A. Decker of the Office of
the Associate Chief Counsel (Corporate).
*****
Amendments to the Regulations
Accordingly, 26 CFR part 1 is amended
as follows:
PART 1—INCOME TAXES
Paragraph 1. The authority citation for
part 1 continues to read as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.368–2T is amended
by adding paragraph (l)(2)(iv) to read as
follows:
§1.368–2T Definition of terms
(temporary).
*****
(l) * * *
(2) * * *
(iv)Exception. Paragraph (l)(2) of this
section does not apply to a transaction
otherwise described in §1.358–6(b)(2) or
section 368(a)(1)(G) by reason of section
368(a)(2)(D).
*****
Kevin M. Brown,
Deputy Commissioner for
Services and Enforcement.
Approved February 21, 2007.
Eric Solomon,
Assistant Secretary of
theTreasury(TaxPolicy).
(Filed by the Office of the Federal Register on February 28,
2007, 8:45 a.m., and published in the issue of the Federal
Register for March 1, 2007, 72 F.R. 9262)
Section 472.—Last-in,
First-out Inventories
26 CFR 1.472–1: Last-in, first-out inventories.
LIFO; price indexes; department
stores.The January 2007 Bureau of La-
bor Statistics price indexes are accepted
for use by department stores employing
the retail inventory and last-in, first-out
inventory methods for valuing inventories
for tax years ended on, or with reference
to, January 31, 2007.
Rev. Rul. 2007–18
The following Department Store Inven-
tory Price Indexes for January 2007 were
issued by the Bureau of Labor Statistics.
The indexes are accepted by the Inter-
March 26, 20078062007–13 I.R.B.

nal Revenue Service, under § 1.472–1(k)
of the Income Tax Regulations and Rev.
Proc. 86–46, 1986–2 C.B. 739, for ap-
propriate application to inventories of
department stores employing the retail
inventory and last-in, first-out inventory
methods for tax years ended on, or with
reference to, January 31, 2007.
The Department Store Inventory Price
Indexes are prepared on a national basis
and include (a) 23 major groups of depart-
ments, (b) three special combinations of
the major groups — soft goods, durable
goods, and miscellaneous goods, and (c) a
store total, which covers all departments,
including some not listed separately, ex-
cept for the following: candy, food, liquor,
tobacco, and contract departments.
BUREAU OF LABOR STATISTICS, DEPARTMENT STORE
INVENTORY PRICE INDEXES BY DEPARTMENT GROUPS
(January 1941 = 100, unless otherwise noted)
GroupsJan. 2006Jan. 2007
Percent Change
From Jan. 2006
to Jan. 2007
1
1. PieceGoods .............................................436.7434.9-0.4
2. DomesticsandDraperies..................................506.9475.2-6.3
3. Women’sandChildren’sShoes ............................671.3645.4-3.9
4. Men’sShoes.............................................868.1875.20.8
5. Infants’Wear ............................................555.2558.20.5
6. Women’sUnderwear......................................545.6551.71.1
7. Women’sHosiery ........................................341.3344.71.0
8. Women’sandGirls’Accessories ...........................555.4537.2-3.3
9. Women’sOuterwearandGirls’Wear .......................325.7338.13.8
10. Men’sClothing ..........................................516.8514.5-0.4
11. Men’sFurnishings........................................555.5559.20.7
12. Boys’ClothingandFurnishings............................396.5371.0-6.4
13. Jewelry..................................................868.9909.54.7
14. Notions .................................................794.2817.12.9
15. ToiletArticlesandDrugs..................................1010.71004.5-0.6
16. FurnitureandBedding ....................................603.9597.1-1.1
17. FloorCoverings..........................................611.0613.70.4
18. Housewares..............................................699.4689.4-1.4
19. MajorAppliances.........................................204.3210.22.9
20. RadioandTelevision......................................37.433.6-10.2
21. Recreation and Education
2
.................................77.376.3-1.3
22. Home Improvements
2
.....................................138.0141.32.4
23. Automotive Accessories
2
..................................117.2122.44.4
Groups1–15:SoftGoods .......................................540.9542.10.2
Groups16–20:DurableGoods...................................375.6370.6-1.3
Groups 21–23: Misc. Goods
2
....................................93.193.90.9
Store Total
3
..............................................482.8482.80.0
1
Absence of a minus sign before the percentage change in this column signifies a price increase.
2
Indexes on a January 1986 = 100 base.
3
The store total index covers all departments, including some not listed separately, except for the following: candy, food, liquor,
tobacco, and contract departments.
DRAFTING INFORMATION
The principal author of this revenue rul-
ingisJohnRomanFaronoftheOffice
of Associate Chief Counsel (Income Tax
and Accounting). For further informa-
tion regarding this revenue ruling, con-
tact Mr. Faron at (202) 622–4930 (not a
toll-free call).
Section 6621.—Determina-
tion of Rate of Interest
26 CFR 301.6621–1: Interest rate.
Interest rates; underpayments and
overpayments.The rate of interest de-
termined under section 6621 of the Code
for the calendar quarter beginning April 1,
2007, will be 8 percent for overpayments
(7 percent in the case of a corporation), 8
percent for underpayments, and 10 percent
for large corporate underpayments. The
rate of interest paid on the portion of a
corporate overpayment exceeding $10,000
will be 5.5 percent.
2007–13 I.R.B.807March 26, 2007

Rev. Rul. 2007–16
Section 6621 of the Internal Revenue
Code establishes the rates for interest
on tax overpayments and tax underpay-
ments. Under section 6621(a)(1), the
overpayment rate is the sum of the federal
short-term rate plus 3 percentage points (2
percentage points in the case of a corpo-
ration), except the rate for the portion of
a corporate overpayment of tax exceeding
$10,000 for a taxable period is the sum of
the federal short-term rate plus 0.5 of a
percentage point for interest computations
made after December 31, 1994. Under
section 6621(a)(2), the underpayment rate
is the sum of the federal short-term rate
plus 3 percentage points.
Section 6621(c) provides that for pur-
poses of interest payable under section
6601 on any large corporate underpay-
ment, the underpayment rate under section
6621(a)(2) is determined by substituting
“5 percentage points” for “3 percentage
points.” See section 6621(c) and section
301.6621–3 of the Regulations on Proce-
dure and Administration for the definition
of a large corporate underpayment and
for the rules for determining the appli-
cable date. Section 6621(c) and section
301.6621–3 are generally effective for
periods after December 31, 1990.
Section 6621(b)(1) provides that the
Secretary will determine the federal
short-term rate for the first month in each
calendar quarter.
Section 6621(b)(2)(A) provides that the
federal short-term rate determined under
section 6621(b)(1) for any month applies
during the first calendar quarter beginning
after such month.
Section 6621(b)(2)(B) provides that in
determining the addition to tax under sec-
tion 6654 for failure to pay estimated tax
for any taxable year, the federal short-term
rate that applies during the third month fol-
lowing such taxable year also applies dur-
ing the first 15 days of the fourth month
following such taxable year.
Section 6621(b)(3) provides that the
federal short-term rate for any month is
the federal short-term rate determined
during such month by the Secretary in
accordance with § 1274(d), rounded to the
nearest full percent (or, if a multiple of
1
/2
of 1 percent, the rate is increased to the
next highest full percent).
Notice 88–59, 1988–1 C.B. 546, an-
nounced that, in determining the quarterly
interest rates to be used for overpayments
and underpayments of tax under section
6621, the Internal Revenue Service will
use the federal short-term rate based on
daily compounding because that rate is
most consistent with section 6621 which,
pursuant to section 6622, is subject to daily
compounding.
Rounded to the nearest full percent, the
federal short-term rate based on daily com-
pounding determined during the month of
January 2007 is 5 percent. Accordingly, an
overpayment rate of 8 percent (7 percent
in the case of a corporation) and an under-
payment rate of 8 percent are established
for the calendar quarter beginning April 1,
2007. The overpayment rate for the por-
tion of a corporate overpayment exceeding
$10,000 for the calendar quarter beginning
April 1, 2007, is 5.5 percent. The under-
payment rate for large corporate underpay-
ments for the calendar quarter beginning
April 1, 2007, is 10 percent. These rates
apply to amounts bearing interest during
that calendar quarter.
Under section 6621(b)(2)(B), the 8 per-
cent rate that applies to estimated tax un-
derpayments for the first calendar quar-
ter in 2007, as provided in Rev. Rul.
2006–63, 2006–52 I.R.B. 1143, also ap-
plies to such underpayments for the first 15
days in April 2007.
Interest factors for daily compound in-
terest for annual rates of 5.5 percent, 7 per-
cent, 8 percent, and 10 percent are pub-
lished in Tables 16, 19, 21, and 25 of Rev.
Proc. 95–17, 1995–1 C.B. 556, 570, 573,
575, and 579.
Annual interest rates to be compounded
daily pursuant to section 6622 that apply
for prior periods are set forth in the tables
accompanying this revenue ruling.
DRAFTING INFORMATION
The principal author of this revenue
ruling is Raymond Bailey of the Office
of Associate Chief Counsel (Procedure
& Administration). For further informa-
tion regarding this revenue ruling, contact
Mr. Bailey at (202) 622–4910 (not a
toll-free call).
TABLE OF INTEREST RATES
PERIODS BEFORE JUL. 1, 1975 — PERIODS ENDING DEC. 31, 1986
OVERPAYMENTS AND UNDERPAYMENTS
PERIODRATE
In 1995–1 C.B.
DAILY RATE TABLE
Before Jul. 1, 19756%Table 2, pg. 557
Jul. 1, 1975—Jan. 31, 19769%Table 4, pg. 559
Feb. 1, 1976—Jan. 31, 19787%Table 3, pg. 558
Feb. 1, 1978—Jan. 31, 19806%Table 2, pg. 557
Feb. 1, 1980—Jan. 31, 198212%Table 5, pg. 560
Feb. 1, 1982—Dec. 31, 198220%Table 6, pg. 560
Jan. 1, 1983—Jun. 30, 198316%Table 37, pg. 591
Jul. 1, 1983—Dec. 31, 198311%Table 27, pg. 581
Jan. 1, 1984—Jun. 30, 198411%Table 75, pg. 629
Jul. 1, 1984—Dec. 31, 198411%Table 75, pg. 629
Jan. 1, 1985—Jun. 30, 198513%Table 31, pg. 585
Jul. 1, 1985—Dec. 31, 198511%Table 27, pg. 581
March 26, 20078082007–13 I.R.B.

TABLE OF INTEREST RATES
PERIODS BEFORE JUL. 1, 1975 — PERIODS ENDING DEC. 31, 1986 – Continued
OVERPAYMENTS AND UNDERPAYMENTS
PERIODRATE
In 1995–1 C.B.
DAILY RATE TABLE
Jan. 1, 1986—Jun. 30, 198610%Table 25, pg. 579
Jul. 1, 1986—Dec. 31, 19869%Table 23, pg. 577
TABLE OF INTEREST RATES
FROM JAN. 1, 1987 — DEC. 31, 1998
OVERPAYMENTSUNDERPAYMENTS
1995–1 C.B.1995–1 C.B.
RATE TABLEPGRATE TABLEPG
Jan. 1, 1987—Mar. 31, 19878%215759%23577
Apr. 1, 1987—Jun. 30, 19878%215759%23577
Jul. 1, 198
7—Sep. 30, 1987
8%215759%23577
Oct. 1, 1987—Dec. 31, 19879%2357710%25579
Jan. 1, 1988—Mar. 31, 198810%7362711%75629
Apr. 1, 19
88—Jun. 30, 1988
9%7162510%73627
Jul. 1, 1988—Sep. 30, 19889%7162510%73627
Oct. 1, 1988—Dec. 31, 198810%7362711%75629
Jan. 1, 1
989—Mar. 31, 1989
10%2557911%27581
Apr. 1, 1989—Jun. 30, 198911%2758112%29583
Jul. 1, 1989—Sep. 30, 198911%2758112%29583
Oct. 1,
1989—Dec. 31, 1989
10%2557911%27581
Jan. 1, 1990—Mar. 31, 199010%2557911%27581
Apr. 1, 1990—Jun. 30, 199010%2557911%27581
Jul. 1
, 1990—Sep. 30, 1990
10%2557911%27581
Oct. 1, 1990—Dec. 31, 199010%2557911%27581
Jan. 1, 1991—Mar. 31, 199110%2557911%27581
Apr.
1, 1991—Jun. 30, 1991
9%2357710%25579
Jul. 1, 1991—Sep. 30, 19919%2357710%25579
Oct. 1, 1991—Dec. 31, 19919%2357710%25579
Jan.
1, 1992—Mar. 31, 1992
8%696239%71625
Apr. 1, 1992—Jun. 30, 19927%676218%69623
Jul. 1, 1992—Sep. 30, 19927%676218%69623
Oct
. 1, 1992—Dec. 31, 1992
6%656197%67621
Jan. 1, 1993—Mar. 31, 19936%175717%19573
Apr. 1, 1993—Jun. 30, 19936%175717%19573
Ju
l. 1, 1993—Sep. 30, 1993
6%1757
1
7%1957
3
Oct. 1, 1993—Dec. 31, 19936%175717%19573
Jan. 1, 1994—Mar. 31, 19946%175717%19573
A
pr. 1, 1994—Jun. 30, 1994
6%1
7
5
71
7%1
9
5
73
Jul. 1, 1994—Sep. 30, 19947%195738%21575
Oct. 1, 1994—Dec. 31, 19948%215759%23577
Jan. 1, 1995—Mar. 31, 19958%215759%23577
Apr. 1, 1995—Jun. 30, 19959%2357710%25579
Jul. 1, 1995—Sep. 30, 19958%215759%23577
Oct. 1, 1995—Dec. 31, 19958%215759%23577
Jan. 1, 1996—Mar. 31, 19968%696239%71625
Apr. 1, 1996—Jun. 30, 19967%676218%69623
Jul. 1, 1996—Sep. 30, 19968%696239%71625
Oct. 1, 1996—Dec. 31, 19968%696239%71625
Jan. 1, 1997—Mar. 31, 19978%215759%23577
Apr. 1, 1997—Jun. 30, 19978%215759%23577
Jul. 1, 1997—Sep. 30, 19978%215759%23577
Oct. 1, 1997—Dec. 31, 19978%215759%23577
2007–13 I.R.B.809March 26, 2007

TABLE OF INTEREST RATES
FROM JAN. 1, 1987 — DEC. 31, 1998 – Continued
OVERPAYMENTSUNDERPAYMENTS
1995–1 C.B.1995–1 C.B.
RATE TABLEPGRATE TABLEPG
Jan. 1, 1998—Mar. 31, 19988%215759%23577
Apr. 1, 1998—
Jun. 30, 1998
7%195738%21575
Jul. 1, 1998—Sep. 30, 19987%195738%21575
Oct. 1, 1998—Dec. 31, 19987%195738%21575
TABLE OF INTEREST RATES
FROM JANUAR
Y 1, 1999 — PRESENT
NONCORPORATE OVERPAYMENTS AND UNDERPAYMENTS
1995–1 C.B.
RATETABLEPAGE
Jan. 1, 1999—Mar. 31, 19997%19573
Apr. 1, 1999—Jun. 30, 19998%21575
Jul. 1, 19
99—Sep. 30, 1999
8%21575
Oct. 1, 1999—Dec. 31, 19998%21575
Jan. 1, 2000—Mar. 31, 20008%69623
Apr. 1, 2
000—Jun. 30, 2000
9%71625
Jul. 1, 2000—Sep. 30, 20009%71625
Oct. 1, 2000—Dec. 31, 20009%71625
Jan. 1,
2001—Mar. 31, 2001
9%23577
Apr. 1, 2001—Jun. 30, 20018%21575
Jul. 1, 2001—Sep. 30, 20017%19573
Oct. 1
, 2001—Dec. 31, 2001
7%19573
Jan. 1, 2002—Mar. 31, 20026%17571
Apr. 1, 2002—Jun. 30, 20026%17571
Jul.
1, 2002—Sep. 30, 2002
6%17571
Oct. 1, 2002—Dec. 31, 20026%17571
Jan. 1, 2003—Mar. 31, 20035%15569
Apr
. 1, 2003—Jun. 30, 2003
5%15569
Jul. 1, 2003—Sep. 30, 20035%15569
Oct. 1, 2003—Dec. 31, 20034%13567
Jan
. 1, 2004—Mar. 31, 2004
4%61615
Apr. 1, 2004—Jun. 30, 20045%63617
Jul. 1, 2004—Sep. 30, 20044%61615
Oc
t. 1, 2004—Dec. 31, 2004
5%6361
7
Jan. 1, 2005—Mar. 31, 20055%15569
Apr. 1, 2005—Jun. 30, 20056%17571
J
ul. 1, 2005—Sep. 30, 2005
6
%
1
7
5
71
Oct. 1, 2005—Dec. 31, 20057%19573
Jan. 1, 2006—Mar. 31, 20067%19573
Apr. 1, 2006—Jun. 30, 20067%19573
Jul. 1, 2006—Sep. 30, 20068%21575
Oct. 1, 2006—Dec. 31, 20068%21575
Jan. 1, 2007—Mar. 31, 20078%21575
Apr. 1, 2007— Jun. 30, 20078%21575
March 26, 20078102007–13 I.R.B.

TABLE OF INTEREST RATES
FROM JANUARY 1, 1999 — PRESENT
CORPORATE OVERPAYMENTS AND UNDERPAYMENTS
OVERPAYMENTSUNDERPAYMENTS
1995–1 C.B.1995–1 C.B.
RATE TABLEPGRATE TABLEPG
Jan. 1, 1999—Mar. 31, 19996%175717%19573
Apr. 1, 1999—
Jun. 30, 1999
7%195738%21575
Jul. 1, 1999—Sep. 30, 19997%195738%21575
Oct. 1, 1999—Dec. 31, 19997%195738%21575
Jan. 1, 2000
—Mar. 31, 2000
7%676218%69623
Apr. 1, 2000—Jun. 30, 20008%696239%71625
Jul. 1, 2000—Sep. 30, 20008%696239%71625
Oct. 1, 200
0—Dec. 31, 2000
8%696239%71625
Jan. 1, 2001—Mar. 31, 20018%215759%23577
Apr. 1, 2001—Jun. 30, 20017%195738%21575
Jul. 1, 20
01—Sep. 30, 2001
6%175717%19573
Oct. 1, 2001—Dec. 31, 20016%175717%19573
Jan. 1, 2002—Mar. 31, 20025%155696%17571
Apr. 1, 2
002—Jun. 30, 2002
5%155696%17571
Jul. 1, 2002—Sep. 30, 20025%155696%17571
Oct. 1, 2002—Dec. 31, 20025%155696%17571
Jan. 1,
2003—Mar. 31, 2003
4%135675%15569
Apr. 1, 2003—Jun. 30, 20034%135675%15569
Jul. 1, 2003—Sep. 30, 20034%135675%15569
Oct. 1
, 2003—Dec. 31, 2003
3%115654%13567
Jan. 1, 2004—Mar. 31, 20043%596134%61615
Apr. 1, 2004—Jun. 30, 20044%616155%63617
Jul.
1, 2004—Sep. 30, 2004
3%596134%61615
Oct. 1, 2004—Dec. 31, 20044%616155%63617
Jan. 1, 2005—Mar. 31, 20054%135675%15569
Apr.
1, 2005—Jun. 30, 2005
5%155696%17571
Jul. 1, 2005—Sep. 30, 20055%155696%17571
Oct. 1, 2005—Dec. 31, 20056%175717%19573
Jan
. 1, 2006—Mar. 31, 2006
6%175717%19573
Apr. 1, 2006—Jun. 30, 20066%175717%19573
Jul. 1, 2006—Sep. 30, 20067%195738%21575
Oc
t. 1, 2006—Dec. 31, 2006
7%1957
3
8%2157
5
Jan. 1, 2007—Mar. 31, 20077%195738%21575
Apr. 1, 2007—Jun. 30, 20077%195738%21575
TABLE OF INTEREST RATES FOR
LARGE CORPORATE UNDERPAYMENTS
FROM JANUARY 1, 1991 — PRESENT
1995–1 C.B.
RATETABLEPG
Jan. 1, 1991—Mar. 31, 199113%31585
Apr. 1, 1991—Jun. 30, 199112%29583
Jul. 1, 1991—Sep. 30, 199112%29583
Oct. 1, 1991—Dec. 31, 199112%29583
Jan. 1, 1992—Mar. 31, 199211%75629
Apr. 1, 1992—Jun. 30, 199210%73627
Jul. 1, 1992—Sep. 30, 199210%73627
Oct. 1, 1992—Dec. 31, 19929%71625
Jan. 1, 1993—Mar. 31, 19939%23577
Apr. 1, 1993—Jun. 30, 19939%23577
2007–13 I.R.B.811March 26, 2007

TABLE OF INTEREST RATES FOR
LARGE CORPORATE UNDERPAYMENTS
FROM JANUARY 1, 1991 — PRESENT – Continued
1995–1 C.B.
RATETABLEPG
Jul. 1, 1993—Sep. 30, 19939%23577
Oct. 1, 1993—Dec. 31, 19939%23577
Jan. 1, 1994—Mar. 31, 19949%23577
Apr. 1, 1994—Jun. 30, 19949%23577
Jul. 1, 1994—Sep. 30, 199410%25579
Oct. 1, 1994—Dec. 31, 199411%27581
Jan. 1, 1995—Mar. 31, 199511%27581
Apr. 1, 1995—Jun. 30, 199512%29583
Jul. 1, 1995—Sep. 30, 199511%27581
Oct. 1, 1995—Dec. 31, 199511%27581
Jan. 1, 1996—Mar. 31, 199611%75629
Apr. 1, 1996—Jun. 30, 199610%73627
Jul. 1, 1996—Sep. 30, 199611%75629
Oct. 1, 1996—Dec. 31, 199611%75629
Jan. 1, 1997—Mar. 31, 199711%27581
Apr. 1, 1997—Jun. 30, 199711%27581
Jul. 1, 1997—Sep. 30, 199711%27581
Oct. 1, 1997—Dec. 31, 199711%27581
Jan. 1, 1998—Mar. 31, 199811%27581
Apr. 1, 1998—Jun. 30, 199810%25579
Jul. 1, 1998—Sep. 30, 199810%25579
Oct. 1, 1998—Dec. 31, 199810%25579
Jan. 1, 1999—Mar. 31, 19999%23577
Apr. 1, 1999—Jun. 30, 199910%25579
Jul. 1, 1999—Sep. 30, 199910%25579
Oct. 1, 1999—Dec. 31, 199910%25579
Jan. 1, 2000—Mar. 31, 200010%73627
Apr. 1, 2000—Jun. 30, 200011%75629
Jul. 1, 2000—Sep. 30, 200011%75629
Oct. 1, 2000—Dec. 31, 200011%75629
Jan. 1, 2001—Mar. 31, 200111%27581
Apr. 1, 2001—Jun. 30, 200110%25579
Jul. 1, 2001—Sep. 30, 20019%23577
Oct. 1, 2001—Dec. 31, 20019%23577
Jan. 1, 2002—Mar. 31, 20028%21575
Apr. 1, 2002—Jun. 30, 20028%21575
Jul. 1, 2002—Sep. 30, 20028%21575
Oct. 1, 2002—Dec. 31, 20028%21575
Jan. 1, 2003—Mar. 31, 20037%19573
Apr. 1, 2003—Jun. 30, 20037%19573
Jul. 1, 2003—Sep. 30, 20037%19573
Oct. 1, 2003—Dec. 31, 20036%17571
Jan. 1, 2004—Mar. 31, 20046%65619
Apr. 1, 2004—Jun. 30, 20047%67621
Jul. 1, 2004—Sep. 30, 20046%65619
Oct. 1, 2004—Dec. 31, 20047%67621
Jan. 1, 2005—Mar. 31, 20057%19573
Apr. 1, 2005—Jun. 30, 20058%21575
Jul. 1, 2005—Sep. 30, 20058%21575
Oct. 1, 2005—Dec. 31, 20059%23577
Jan. 1, 2006—Mar. 31, 20069%23577
Apr. 1, 2006—Jun. 30, 20069%23577
Jul. 1, 2006—Sep. 30, 200610%25579
Oct. 1, 2006—Dec. 31, 200610%25579
Jan. 1, 2007—Mar. 31, 200710%25579
Apr. 1, 2007—Jun. 30, 200710%25579
March 26, 20078122007–13 I.R.B.

TABLE OF INTEREST RATES FOR CORPORATE
OVERPAYMENTS EXCEEDING $10,000
FROM JANUARY 1
, 1995 — PRESENT
1995–1 C.B.
RATETABLEPG
Jan. 1, 1995—Mar. 31, 19956.5%18572
Apr. 1, 1995—Jun. 30, 19957.5%20574
Jul. 1, 1995—Sep. 30, 19956.5%18572
Oct. 1, 1995—Dec. 31, 19956.5%18572
Jan. 1, 1996—Mar. 31, 19966.5%66620
Apr. 1, 1996—Jun. 30, 19965.5%64618
Jul. 1, 1996—Sep. 30, 19966.5%66620
Oct. 1, 1996—Dec. 31, 19966.5%66620
Jan. 1, 1997—Mar. 31, 19976.5%18572
Apr. 1, 1997—Jun. 30, 19976.5%18572
Jul. 1, 1997—Sep. 30, 19976.5%18572
Oct. 1, 1997—Dec. 31, 19976.5%18572
Jan. 1, 1998—Mar. 31, 19986.5%18572
Apr. 1, 1998—Jun. 30, 19985.5%16570
Jul. 1, 1998—Sep. 30, 19985.5%16570
Oct. 1, 1998—Dec. 31, 19985.5%16570
Jan. 1, 1999—Mar. 31, 19994.5%14568
Apr. 1, 1999—Jun. 30, 19995.5%16570
Jul. 1, 1999—Sep. 30, 19995.5%16570
Oct. 1, 1999—Dec. 31, 19995.5%16570
Jan. 1, 2000—Mar. 31, 20005.5%64618
Apr. 1, 2000—Jun. 30, 20006.5%66620
Jul. 1, 2000—Sep. 30, 20006.5%66620
Oct. 1, 2000—Dec. 31, 20006.5%66620
Jan. 1, 2001—Mar. 31, 20016.5%18572
Apr. 1, 2001—Jun. 30, 20015.5%16570
Jul. 1, 2001—Sep. 30, 20014.5%14568
Oct. 1, 2001—Dec. 31, 20014.5%14568
Jan. 1, 2002—Mar. 31, 20023.5%12566
Apr. 1, 2002—Jun. 30, 20023.5%12566
Jul. 1, 2002—Sep. 30, 20023.5%12566
Oct. 1, 2002—Dec. 31, 20023.5%12566
Jan. 1, 2003—Mar. 31, 20032.5%10564
Apr. 1, 2003—Jun. 30, 20032.5%10564
Jul. 1, 2003—Sep. 30, 20032.5%10564
Oct. 1, 2003—Dec. 31, 20031.5%8562
Jan. 1, 2004—Mar. 31, 20041.5%56610
Apr. 1, 2004—Jun. 30, 20042.5%58612
Jul. 1, 2004—Sep. 30, 20041.5%56610
Oct. 1, 2004—Dec. 31, 20042.5%58612
Jan. 1, 2005—Mar. 31, 20052.5%10564
Apr. 1, 2005—Jun. 30, 20053.5%12566
Jul. 1, 2005—Sep. 30, 20053.5%12566
Oct. 1, 2005—Dec. 31, 20054.5%14568
Jan. 1, 2006—Mar. 31, 20064.5%14568
Apr. 1, 2006—Jun. 30, 20064.5%14568
Jul. 1, 2006—Sep. 30, 20065.5%16570
Oct. 1, 2006—Dec. 31, 20065.5%16570
Jan. 1, 2007—Mar. 31, 20075.5%16570
Apr. 1, 2007—Jun. 30, 20075.5%16570
2007–13 I.R.B.813March 26, 2007

Part III. Administrative, Procedural, and Miscellaneous
Weighted Av
erage Interest
Rates Updat
e
Notice 2007
–27
This notice
provides guidance as to the
corporate b
ond weighted average interest
rate and th
e permissible range of interest
rates spec
ified under § 412(b)(5)(B)(ii)(II)
of the Inte
rnal Revenue Code. In addi-
tion, it pr
ovides guidance as to the interest
rate on 30
-year Treasury securities under
§ 417(e)(
3)(A)(ii)(II).
CORPORAT
E BOND WEIGHTED
AVERAGE I
NTEREST RATE
Sections
412(b)(5)(B)(ii) and 412(l)(7)
(C)(i), a
s amended by the Pension Funding
Equity Act o
f2004andbythePensionPro-
tection Act
of 2006, provide that the inter-
est rates us
ed to calculate current liability
and to deter
mine the required contribution
under § 412
(l) for plan years beginning in
2004 throu
gh 2007 must be within a per-
missible r
ange based on the weighted av-
erage of th
e rates of interest on amounts
invested
conservatively in long term in-
vestment
grade corporate bonds during the
4-year pe
riod ending on the last day before
the begin
ning of the plan year.
Notice 20
04–34, 2004–1 C.B. 848, pro-
vides gui
delines for determining the cor-
porate b
ond weighted average interest rate
and the r
esulting permissible range of in-
terest r
ates used to calculate current liabil-
ity. Tha
t notice establishes that the corpo-
rate bond we
ighted average is based on the
monthly com
posite corporate bond rate de-
rived from d
esignated corporate bond in-
dices. The m
ethodology for determining
the monthl
y composite corporate bond rate
as set fort
h in Notice 2004–34 continues to
applyinde
termining that rate. See Notice
2006–75, 2
006–36 I.R.B. 366.
The compos
ite corporate bond rate for
February 2
007 is 5.85 percent. Pursuant
to Notice
2004–34, the Service has de-
termined
this rate as the average of the
monthly y
ields for the included corporate
bond indi
ces for that month.
The follo
wing corporate bond weighted
average i
nterest rate was determined for
plan yea
rs beginning in the month shown
below.
For Plan Years
Corporate
Bond90% to 100%
Beginning in:WeightedPermissible
MonthYearAverageRange
March20075.805.22 to 5.80
30-YEAR TREASURY SECURITIES
INTEREST RATE
Section 417(e)(3)(A)(ii)(II) defines
the applicable interest rate, which must
be used for purposes of determining the
minimum present value of a participant’s
benefit under § 417(e)(1) and (2), as the
annual rate of interest on 30-year Treasury
securities for the month before the date
of distribution or such other time as the
Secretary may by regulations prescribe.
Section 1.417(e)–1(d)(3) of the Income
Tax Regulations provides that the applica-
ble interest rate for a month is the annual
interest rate on 30-year Treasury securi-
ties as specified by the Commissioner for
that month in revenue rulings, notices or
other guidance published in the Internal
Revenue Bulletin.
The rate of interest on 30-year Treasury
securities for February 2007 is 4.82 per-
cent. The Service has determined this rate
as the average of the yield on the 30-year
Treasury bond maturing in February 2036
determined each day through February 7,
2007, and the yield on the 30-year Trea-
surybondmaturinginFebruary2037de-
termined each day for the balance of the
month.
Drafting Information
The principal authors of this notice are
Paul Stern and Tony Montanaro of the Em-
ployee Plans, Tax Exempt and Govern-
ment Entities Division. For further infor-
mation regarding this notice, please con-
tact the Employee Plans’ taxpayer assis-
tance telephone service at 877–829–5500
(a toll-free number), between the hours of
8:30 a.m. and 4:30 p.m. Eastern time,
Monday through Friday. Mr. Stern may be
reached at 202–283–9703. Mr. Montanaro
may be reached at 202–283–9714. The
telephone numbers in the two preceding
sentences are not toll-free.
26 CFR 601.201: Rulings and determination letters.
(Also: Part I, §§ 25, 103, 143.)
Rev. Proc. 2007–26
SE
CTION 1. PURPOSE
This revenue procedure provides is-
suers of qualified mortgage bonds, as
defined in section 143(a) of the Internal
Revenue Code, and issuers of mortgage
credit certificates, as defined in section
25(c), with (1) the nationwide average
purchase price for residences located in
the United States, and (2) average area
purchase price safe harbors for residences
located in statistical areas in each state,
the District of Columbia, Puerto Rico,
the Northern Mariana Islands, American
Samoa, the Virgin Islands, and Guam.
SECTION 2. BACKGROUND
.01 Section 103(a) provides that, except
as provided in section 103(b), gross in-
come does not include interest on any state
or local bond. Section 103(b)(1) provides
that section 103(a) shall not apply to any
private activity bond that is not a “qualified
March 26, 20078142007–13 I.R.B.

bond” within the meaning of section 141.
Section 141(e) provides, in part, that the
term “qualified bond” means any private
activity bond if such bond (1) is a quali-
fied mortgage bond under section 143, (2)
meets the volume cap requirements under
section 146, and (3) meets the applicable
requirements under section 147.
.02 Section 143(a)(1) provides that the
term “qualified mortgage bond” means a
bond that is issued as part of a qualified
mortgage issue. Section 143(a)(2)(A) pro-
vides that the term “qualified mortgage is-
sue” means an issue of one or more bonds
by a state or political subdivision thereof,
but only if: (i) all proceeds of the issue (ex-
clusive of issuance costs and a reasonably
required reserve) are to be used to finance
owner-occupied residences; (ii) the issue
meets the requirements of subsections (c),
(d), (e), (f), (g), (h), (i), and (m)(7) of sec-
tion 143; (iii) the issue does not meet the
private business tests of paragraphs (1) and
(2) of section 141(b); and (iv) with respect
to amounts received more than 10 years
after the date of issuance, repayments of
$250,000 or more of principal on mortgage
financing provided by the issue are used by
the close of the first semiannual period be-
ginning after the date the prepayment (or
complete repayment) is received to redeem
bonds that are part of the issue.
Average Area Purchase Price
.03 Section 143(e)(1) provides that an
issue of bonds meets the purchase price
requirements of section 143(e) if the ac-
quisition cost of each residence financed
by the issue does not exceed 90 percent of
the average area purchase price applicable
to such residence. Section 143(e)(5) pro-
vides that, in the case of a targeted area res-
idence (as defined in section 143(j)), sec-
tion 143(e)(1) shall be applied by substi-
tuting 110 percent for 90 percent.
.04 Section 143(e)(2) provides that the
term “average area purchase price” means,
with respect to any residence, the average
purchase price of single-family residences
(in the statistical area in which the resi-
dence is located) that were purchased dur-
ing the most recent 12-month period for
which sufficient statistical information is
available. Under sections 143(e)(3) and
(4), respectively, separate determinations
are to be made for new and existing resi-
dences, and for two-, three-, and four-fam-
ily residences.
.05 Section 143(e)(2) provides that the
determination of the average area purchase
price for a statistical area shall be made as
of the date on which the commitment to
provide the financing is made or, if earlier,
the date of the purchase of the residence.
.06 Section 143(k)(2)(A) provides that
the term “statistical area” means (i) a
metropolitan statistical area (MSA), and
(ii) any county (or the portion thereof)
that is not within an MSA. Section
143(k)(2)(C) further provides that if suf-
ficient recent statistical information with
respect to a county (or portion thereof)
is unavailable, the Secretary may sub-
stitute another area for which there is
sufficient recent statistical information for
such county (or portion thereof). In the
case of any portion of a State which is
not within a county, section 143(k)(2)(D)
provides that the Secretary may designate
as a county any area that is the equivalent
of a county. Section 6a.103A–1(b)(4)(i)
of the Temporary Income Tax Regulations
(issued under section 103A of the Internal
Revenue Code of 1954, the predecessor of
section 143) provides that the term “State”
includes a possession of the United States
and the District of Columbia.
.07 Section 6a.103A–2(f)(5)(i) pro-
videsthatanissuermayrelyupontheav-
erage area purchase price safe harbors pub-
lished by the Department of the Treasury
for the statistical areain which a residence
is located. Section 6a.103A–2(f)(5)(i)
further provides that an issuer may use
an average area purchase price limitation
different from the published safe harbor if
the issuer has more accurate and compre-
hensive data for the statistical area.
Qualified Mortgage Credit Certificate
Program
.08 Section 25(c) permits a state or
political subdivision to establish a quali-
fied mortgage credit certificate program.
In general, a qualified mortgage credit
certificate program is a program under
which the issuing authority elects not to
issue an amount of private activity bonds
that it may otherwise issue during the
calendar year under section 146, and in
their place, issues mortgage credit certifi-
cates to taxpayers in connection with the
acquisition of their principal residences.
Section 25(a)(1) provides, in general, that
the holder of a mortgage credit certificate
may claim a federal income tax credit
equal to the product of the credit rate
specified in the certificate and the interest
paid or accrued during the tax year on the
remaining principal of the indebtedness
incurred to acquire the residence. Section
25(c)(2)(A)(iii)(III) generally provides
that residences acquired in connection
with the issuance of mortgage credit cer-
tificates must meet the purchase price
requirements of section 143(e).
Income Limitations for Qualified
Mortgage Bonds and Mortgage Credit
Certificates
.09 Section 143(f) imposes limitations
on the income of mortgagors for whom
financing may be provided by qualified
mortgage bonds. In addition, section
25(c)(2)(A)(iii)(IV) provides that holders
of mortgage credit certificates must meet
the income requirement of section 143(f).
Generally, under sections 143(f)(1) and
25(c)(2)(A)(iii)(IV), the income require-
ment is met only if all owner-financing
under a qualified mortgage bond and all
mortgage credit certificates issued under a
qualified mortgage credit certificate pro-
gram are provided to mortgagors whose
family income is 115 percent or less of the
applicable median family income. Section
143(f)(5), however, generally provides
for an upward adjustment to the percent-
age limitation in high housing cost areas.
High housing cost areas are defined in
section 143(f)(5)(C) as any statistical area
for which the housing cost/income ratio is
greater than 1.2.
.10 Under section 143(f)(5)(D), the
housing cost/income ratio with respect to
any statistical area is determined by divid-
ing (a) the applicable housing price ratio
for such area by (b) the ratio that the area
median gross income for such area bears
to the median gross income for the United
States. The applicable housing price ratio
is the new housing price ratio (new hous-
ing average area purchase price divided by
the new housing average purchase price
for the United States) or the existing hous-
ing price ratio (existing housing average
area purchase price divided by the existing
housing average purchase price for the
United States), whichever results in the
2007–13 I.R.B.815March 26, 2007

housing cost/income ratio being closer to
1.
Average Area and Nationwide Purchase
Price Limitations
.11 Average area purchase price safe
harbors for each state, the District of Co-
lumbia, Puerto Rico, the Northern Mari-
ana Islands, American Samoa, the Virgin
Islands, and Guam were last published in
Rev. Proc. 2006–17, 2006–14 I.R.B. 709.
.12 The nationwideaverage purchase
price limitation was last published in
section 4.02 of Rev. Proc. 2006–17.
Guidance with respect to the United States
and area median grossincome figures that
aretobeusedincomputingthehousing
cost/income ratio described in section
143(f)(5) was last published in Rev. Proc.
2006–20, 2006–17 I.R.B. 841.
.13 This revenue procedure uses FHA
loan limits for a given statistical area to
calculate the average area purchase price
safe harbor for that area. FHA sets lim-
its on the dollar value of loans it will in-
sure based on median home prices and
conforming loan limits established by the
Federal Home Loan Mortgage Corpora-
tion. In particular, FHA sets an area’s
loan limit at 95 percent of the median home
sales price for the area, subject to certain
floors and caps measured against conform-
ing loan limits.
.14 To calculate the average area pur-
chase price safe harbors in this revenue
procedure, the FHA loan limits are ad-
justed to take into account the differences
between average and median purchase
prices. Because FHA loan limits do not
differentiate between new and existing
residences, this revenue procedure con-
tains a single average area purchase price
safe harbor for both new and existing
residences in a statistical area. The Trea-
sury Department and the Internal Revenue
Service have determined that FHA loan
limits provide a reasonable basis for de-
termining average area purchase price
safe harbors. If the Treasury Department
and the Internal Revenue Service become
aware of other sources of average purchase
price data, including data that differentiate
between new and existing residences, con-
sideration will be given as to whether such
data provide a more accurate method for
calculating average area purchase price
safe harbors.
.15 The average area purchase price
safeharborslistedinsection4.01ofthis
revenue procedure are based on FHA loan
limits released January 3, 2007. FHA loan
limits are available for statistical areas in
each state, the District of Columbia, Puerto
Rico, the Northern Mariana Islands, Amer-
ican Samoa, the Virgin Islands, and Guam.
See section 3.03 of this revenue procedure
with respect to FHA loan limits revised af-
ter January 3, 2007.
.16 OMB Bulletin No. 03–04, dated
and effective June 6, 2003, revised the def-
initions of the nation’s metropolitan areas
and recognized 49 new metropolitan sta-
tistical areas. The OMB bulletin no longer
includes primary metropolitan statistical
areas.
SECTION 3. APPLICATION
Average Area Purchase Price Safe
Harbors
.01 Average area purchase price safe
harbors for statistical areas in each state,
the District of Columbia, Puerto Rico,
the Northern Mariana Islands, American
Samoa, the Virgin Islands, and Guam are
set forth in section 4.01 of this revenue
procedure. Average area purchase price
safe harbors are provided for single-fam-
ilyandtwotofour-familyresidences.For
each type of residence, section 4.01 of this
revenue procedure contains a single safe
harbor that may be used for both new and
existing residences. Issuers of qualified
mortgage bonds and issuers of mortgage
credit certificates may rely on these safe
harbors to satisfy the requirements of sec-
tions 143(e) and (f). Section 4.01 of this
revenue procedure provides safe harbors
for MSAs and for certain counties and
county equivalents. If no purchase price
safe harbor is available for a statistical
area, the safe harbor for “ALL OTHER
AREAS” may be used for that statistical
area (except for Alaska, for which a sepa-
rate safe harbor is provided for statistical
areas not listed).
.02IfaresidenceisinanMSA,thesafe
harbor applicable to it is the limitation of
that MSA. If an MSA falls in more than
one state, the MSA is listed in section 4.01
of this revenue procedure under each state.
.03 If the FHA revises the FHA loan
limit for any statistical area after January
3, 2006, an issuer of qualified mortgage
bonds or mortgage credit certificates may
use the revised FHA loan limit for that
statistical area to compute (as provided in
the next sentence) a revised average area
purchase price safe harbor for the statisti-
cal area provided that the issuer maintains
records evidencing the revised FHA loan
limit. The revised average area purchase
price safe harbor for that statistical area
is computed by dividing the revised FHA
loan limit by .76.
.04 If, pursuant to section
6a.103A–2(f)(5)(i), an issuer uses
more accurate and comprehensive data
to determine the average area purchase
price for a statistical area, the issuer must
make separate average area purchase price
determinations for new and existing resi-
dences. Moreover, when computing the
average area purchase price for a statistical
area that is an MSA, as defined in OMB
Bulletin No. 03–04, the issuer must make
the computation for the entire applicable
MSA. When computing the average area
purchase price for a statistical area that
is not an MSA, the issuer must make the
computation for the entire statistical area
and may not combine statistical areas.
Thus, for example, the issuer may not
combine two or more counties.
.05 If an issuer receives a ruling permit-
ting it to rely on an average area purchase
price limitation that is higher than the
applicable safe harbor in this revenue
procedure, the issuer may rely on that
higher limitation for the purpose of satis-
fying the requirements of section 143(e)
and (f) for bonds sold, and mortgage
credit certificates issued, not more than 30
months following the termination date of
the12-monthperiodusedbytheissuerto
compute the limitation.
Nationwide Average Purchase Price
.06 Section 4.02 of this revenue proce-
dure sets forth a single nationwide average
purchase price for purposes of computing
the housing cost/income ratio under sec-
tion 143(f)(5).
.07 Issuers must use the nationwide av-
erage purchase price set forth in section
4.02 of this revenue procedure when com-
puting the housing cost/income ratio un-
der section 143(f)(5) regardless of whether
they are relying on the average area pur-
chase price safe harbors contained in this
revenue procedure or using more accurate
March 26, 20078162007–13 I.R.B.

and comprehensive data to determine av-
erage area purchase prices for new and ex-
isting residences for a statistical area that
are different from the published safe har-
bors in this revenue procedure.
.08 If, pursuant to section 6.02 of this
revenue procedure, an issuer relies on the
average area purchase price safe harbors
contained in Rev. Proc. 2006–17, the is-
suer must use the nationwide average pur-
chase price set forth in section 4.02 of Rev.
Proc. 2006–17 in computing the housing
cost/income ratio under section 143(f)(5).
Likewise, if, pursuant to section 6.05 of
this revenue procedure, an issuer relies
on the nationwide average purchase price
published in Rev. Proc. 2006–17, the is-
suer may not rely on the average area pur-
chase price safe harbors published in this
revenue procedure.
SECTION 4. AVERAGE AREA AND
NATIONWIDE AVERAGE PURCHASE
PRICES
.01 Average area purchase prices for
single-family and two to four-family res-
idences in MSAs, and for certain counties
and county equivalents are set forth below.
The safe harbor for “ALL OTHER AR-
EAS” (found at the end of the table below)
may be used for a statistical area that is not
listed below.
STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
AKANCHORAGE, AK (MSA)ANCHORAGE$335,592 $377,982 $459,276 $529,934
NON-METRODENALI$316,137 $404,668 $489,126 $607,879
JUNEAU, AK
(MICRO)
JUNEAU$398,750 $449,118 $545,658 $629,605
ANCHORAGE, AK (MSA)MATANUSKA-SUSIT $335,592 $377,982 $459,276 $529,934
NON-METROSITKA$431,250 $485,724 $590,132 $680,921
NON-METROYAKUTAT CITY$316,137 $404,668 $489,126 $607,879
AZFLAGSTAFF, AZ (MSA)COCONINO$437,500 $492,763 $598,684 $690,789
PAYSON
, AZ (MICRO)
GILA$293,7
50
$337,1
68
$407,5
58
$506,4
95
PHOENIX-MESA-SCOTTSDALE,
AZ (MSA)MARICOPA$346,250 $389,987 $473,816 $546,711
LAKE HA
VASU CITY-KINGMAN,
AZ (MIC
RO)
MOHAVE$321,8
42
$362,5
00
$440,4
61
$508,2
24
NON-METRONAVAJO$265,000 $337,168 $407,558 $506,495
TUCSON, AZ (MSA)PIMA$315,592 $355,461 $431,908 $506,495
PHOENIX-MESA-SCOTTSDALE,
AZ (MSA)PINAL$346,250 $389,987 $473,816 $546,711
PRES
COTT, AZ (MSA)
YAVA
PAI
$375
,000
$422
,368
$513
,158
$592
,105
CA
OAKLAND-FREMONT-
HAYWARD, CA METROPOLITAN ALAMEDA$477,355 $611,117 $738,699 $918,021
NON-METROALPINE$477,355 $611,117 $738,699 $918,021
NON
-METRO
AMA
DOR
$44
3,750
$50
6,842
$61
5,789
$71
0,526
CHICO, CA (MSA)BUTTE$400,000 $450,526 $547,368 $631,579
NON-METROCALAVERAS$477,355 $550,461 $668,816 $774,671
NON-METROCOLUSA$381,250 $429,408 $521,711 $601,974
OA
KLAND-FREMONT-
HA
YWARD, CA METROPOLITAN
CO
NTRA COSTA
$4
77,355
$6
11,117
$7
38,699
$9
18,021
CRESCENT CITY, CA (MICRO)DEL NORTE$311,250 $350,566 $425,921 $506,495
SACRAMENTO-ARDEN-
ARCADE-ROSEVILLE, CAEL DORADO$477,355 $587,092 $713,289 $823,026
FRESNO, CA (MSA)FRESNO$381,250 $429,408 $521,711 $601,974
N
ON-METRO
G
LENN
$
283,750
$
337,168
$
407,558
$
506,495
EUREKA-ARCATA-FORTUNA,
CA (MICRO)HUMBOLDT$393,750 $443,487 $538,816 $621,711
EL CENTRO, CA (MSA)IMPERIAL$274,934 $337,168 $407,558 $506,495
BISHOP, CA (MICRO)INYO$477,355 $542,039 $658,553 $759,868
2007–13 I.R.B.817March 26, 2007

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
BAKERSFIELD, CA (MSA)KERN$368,750 $415,329 $504,605 $582,237
HANFORD-CORCORAN, CA
(MSA)KINGS$312,316 $351,766 $427,379 $506,495
CLEARLAKE, C
A (MICRO)
LAKE$401,250 $451,934 $549,079 $633,553
LOS ANGELES-LONG
BEACH-GLENDALE, CA
METROPOLITANLOS ANGELES$477,355 $611,117 $738,699 $918,021
MADERA, CA (
MSA)
MADERA$425,000 $478,684 $581,579 $671,053
SAN FRANCISCO-SAN
MATEO-REDWOOD CITY,
CAMARIN$477,355 $611,117 $738,699 $918,021
NON-METROMARIPOSA$411,704 $464,605 $564,474 $651,316
UKIAH, CA (MICRO)MENDOCINO$477,355 $563,158 $684,211 $789,474
MERCED, CA (MSA)MERCED$471,557 $531,122 $645,288 $744,564
NON-METROMONO$477,355 $611,117 $738,699 $918,021
SALINAS, CA (MSA)MONTEREY$477,355 $611,117 $738,699 $918,021
NAPA, CA (MSA)NAPA$477,355 $611,117 $738,699 $918,021
TRUCKEE-GRASS VALLEY, CA
(MICRO)NEVADA$477,355 $611,117 $738,699 $918,021
SANTA ANA-ANAHEIM-IRVINE,
CA METROPOLITANORANGE$477,355 $611,117 $738,699 $918,021
SACRAMENTO-ARDEN-
ARCADE-ROSEVILLE, CAPLACER$477,355 $587,092 $713,289 $823,026
NON-METROPLUMAS$410,000 $461,789 $561,053 $647,368
RIVERSIDE-SAN
BERNARDINO-ONTARIO,
CA (MSA)RIVERSIDE$477,355 $561,711 $682,500 $787,500
SACRAMENTO-ARDEN-
ARCADE-ROSEVILLE, CASACRAMENTO$477,355 $587,092 $713,289 $823,026
SAN JOSE-SUNNYVALE-SANTA
CLARA, CA (MSA)SAN BENITO$477,355 $611,117 $738,699 $918,021
RIVERSIDE-SAN
BERNARDINO-ONTARIO,
CA (MSA)SAN BERNARDINO $477,355 $561,711 $682,500 $787,500
SAN DIEGO-CARLSBAD-SAN
MARCOS, CA (MSA)SAN DIEGO$477,355 $611,117 $738,699 $918,021
SAN FRANCISCO-SAN
MATEO-REDWOOD CITY,
CASAN FRANCISCO$477,355 $611,117 $738,699 $918,021
STOCKTON, CA (MSA)SAN JOAQUIN$477,355 $549,079 $667,105 $769,737
SAN LUIS OBISPO-PASO
ROBLES, CA (MSA)SAN LUIS OBISPO$477,355 $611,117 $738,699 $918,021
SAN
FRANCISCO-SAN
MAT
EO-REDWOOD CITY,
CASAN
MATEO
$47
7,355
$61
1,117
$73
8,699
$91
8,021
SANTA BARBARA-SANTA
MARIA, CA (MSA)SANTA BARBARA$477,355 $611,117 $738,699 $918,021
SA
N JOSE-SUNNYVALE-SANTA
CL
ARA, CA (MSA)
SA
NTA CLARA
$4
77,355
$6
11,117
$7
38,699
$9
18,021
SANTA CRUZ-WATSONVILLE,
CA (MSA)SANTA CRUZ$477,355 $611,117 $738,699 $918,021
REDDING, CA (MSA)SHASTA$423,625 $477,136 $579,697 $668,882
NON-METROSISKIYOU$293,750 $337,168 $407,558 $506,495
March 26, 20078182007–13 I.R.B.

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
VALLEJO-FAIRFIELD, CA (MSA) SOLANO$477,355 $611,117 $738,699 $907,895
SANTA ROSA-PETALUMA, CA
(MSA)SONOMA$477,355 $611,117 $738,699 $918,021
MODESTO, CA (
MSA)
STANISLAUS$477,355 $537,653 $653,222 $753,718
YUBA CITY, CA (MSA)SUTTER$424,680 $478,325 $581,142 $670,549
RED BLUFF, CA (MICRO)TEHAMA$293,750 $337,168 $407,558 $506,495
VISALIA-PORTERVILLE, CA
(MSA)TULARE$325,000 $366,053 $444,737 $513,158
PHOENIX LAKE-CEDAR RIDGE,
CA (MICRO)TUOLUMNE$437,500 $492,763 $598,684 $690,789
OXNARD-THOUSAND
OAKS-VENTURA, CA (MSA)VENTURA$477,355 $611,117 $738,699 $918,021
SACRAMENTO-ARDEN-
ARCADE-ROSEVILLE, CAYOLO$477,355 $587,092 $713,289 $823,026
YUBA CITY, CA (MSA)YUBA$424,680 $478,325 $581,142 $670,549
CODENVER-AURORA, CO (MSA)ADAMS$405,750 $457,003 $555,237 $640,658
DENVER-A
URORA, CO (MSA)
ARAPAHOE$405,750 $457,003 $555,237 $640,658
NON-METROARCHULETA$263,487 $337,168 $407,558 $506,495
BOULDER, CO (MSA)BOULDER$458,500 $516,416 $627,421 $723,947
DENVER-AURORA, CO (MSA)BROOMFIELD$405,750 $457,003 $555,237 $640,658
DENVER-AURORA, CO (MSA)CLEAR CREEK$405,750 $457,003 $555,237 $640,658
DENVER-AURORA, CO (MSA)DENVER$405,750 $457,003 $555,237 $640,658
DENVE
R-AURORA, CO (MSA)
DOUGL
AS
$405,
750
$457,
003
$555,
237
$640,
658
EDWARDS, CO (MICRO)EAGLE$477,355 $537,653 $653,222 $753,718
COLORADO SPRINGS, CO (MSA) EL PASO$325,000 $366,053 $444,737 $513,158
DENVER-AURORA, CO (MSA)ELBERT$405,750 $457,003 $555,237 $640,658
NON-METROGARFIELD$393,209 $442,878 $538,075 $620,857
DENVER-AURORA, CO (MSA)GILPIN$405,750 $457,003 $555,237 $640,658
NON
-METRO
GRA
ND
$29
3,750
$33
7,168
$40
7,558
$50
6,495
DENVER-AURORA, CO (MSA)JEFFERSON$405,750 $457,003 $555,237 $640,658
DURANGO, CO (MICRO)LA PLATA$303,750 $342,118 $415,658 $506,495
EDWARDS, CO (MICRO)LAKE$477,355 $537,653 $653,222 $753,718
FO
RT COLLINS-LOVELAND, CO
(M
SA)
LA
RIMER
$3
12,500
$3
51,974
$4
27,632
$5
06,495
DENVER-AURORA, CO (MSA)PARK$405,750 $457,003 $555,237 $640,658
NON-METROPITKIN$381,999 $488,975 $591,028 $734,521
NON-METROROUTT$398,026 $448,303 $544,667 $628,462
NON-METROSAN MIGUEL$477,355 $611,117 $738,699 $918,021
SILVERTHORNE, CO (MICRO)SUMMIT$431,250 $485,724 $590,132 $680,921
COLORADO SPRINGS, CO (MSA) TELLER$325,000 $366,053 $444,737 $513,158
GREELEY, CO (MSA)WELD$361,250$406,882 $494,342 $570,395
CT
BRIDGEPORT-STAMFORD-
NORWALK, CT (MSA)FAIRFIELD$477,355 $611,117 $738,699 $918,021
HARTFORD-WEST
HARTFORD-EAST HARTFORD,
CTHARTFORD$439,125 $494,593 $600,908 $693,355
TORRINGTON, CT (MICRO)LITCHFIELD$375,000 $422,368 $513,158 $592,105
2007–13 I.R.B.819March 26, 2007

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
HARTFORD-WES
T
HARTFORD-EAS
T HARTFORD,
CTMIDDLESEX$439,125 $494,593 $600,908 $693,355
NEW HAVEN-MILFORD, CT
(MSA)NEW HAVEN$385,625 $435,039 $528,553 $609,868
NORWICH-NEW
LONDON, CT
(MSA)NEW LONDON$398,750 $449,118 $545,658 $629,605
HARTFORD-WEST
HARTFORD-EAST HARTFORD,
CTTOLLAND$439,125 $494,593 $600,908 $693,355
DC
WASHINGTON-ARLINGTON-
ALEXANDRIA, DC-VA-MDDISTRICT OF COL$477,355 $611,117 $738,699 $888,158
DEDOVER, DE (MSA)KENT$350,395 $394,655 $479,487 $553,255
WILMINGTON, DE-MD-NJ
METROPOLITAN DIVISIONNEW CASTLE$385,112 $433,758 $526,996 $608,072
SEAFORD, DE (MICRO)SUSSEX$325,000 $366,053 $444,737 $513,158
FLGAINESVILLE, FL (MSA)ALACHUA$269,000 $337,168 $407,558 $506,495
JACKSON
VILLE, FL (MSA)
BAKER$387,50
0
$436,44
7
$530,26
3
$611,84
2
PANAMA CITY-LYNN HAVEN,
FL (MSA)BAY$331,250 $373,092 $453,289 $523,026
PALM BAY
-MELBOURNE-
TITUSVI
LLE, FL (MSA)
BREVARD$291,25
0
$337,16
8
$407,55
8
$506,49
5
FORT LAUDERDALE-POMPANO
BEACH-DEERFIELDBROWARD$477,355 $544,336 $661,343 $763,088
PUNTA GORDA, FL (MSA)CHARLOTTE$295,012 $337,168 $407,558 $506,495
JACKSONVILLE, FL (MSA)CLAY$387,500 $436,447 $530,263 $611,842
NAPLES-MARCO ISLAND, FL
(MSA)COLLIER$477,355 $563,017 $684,039 $789,276
JACKSONVILLE, FL (MSA)DUVAL$387,500 $436,447 $530,263 $611,842
PALM COAST, FL (MICRO)FLAGLER$287,500 $337,168 $407,558 $506,495
GAINESVILLE, FL (MSA)GILCHRIST$269,000 $337,168 $407,558 $506,495
TAMPA-ST. PETERSBURG-
CLEARWATER, FL (MSA)HERNANDO$292,500 $337,168 $407,558 $506,495
TAMPA-ST. PETERSBURG-
CLEARWATER, FL (MSA)HILLSBOROUGH$292,500 $337,168 $407,558 $506,495
SEBASTIAN-VERO BEACH, FL
(MSA)INDIAN RIVER$281,250 $337,168 $407,558 $506,495
ORLANDO-KISSIMMEE, FL
(MSA)LAKE$338,750 $381,539 $463,553 $534,868
CAPE CORAL-FORT MYERS, FL
(MSA)LEE$356,250 $401,250 $487,500 $562,500
SARASOTA-BRADENTON-
VENICE, FL (MSA)MANATEE$442,237 $498,097 $605,166 $698,268
PORT ST. LUCIE-FORT PIERCE,
FL (MSA)MARTIN$364,000 $409,979 $498,105 $574,737
MIAMI-MIAMI BEACH-
KENDALL, FL METROPOLITAN MIAMI-DADE$477,355 $544,336 $661,343 $763,088
KEY WEST-MARATHON, FL
(MICRO)MONROE$477,355 $611,117 $738,699 $918,021
JACKSONVILLE, FL (MSA)NASSAU$387,500 $436,447 $530,263 $611,842
March 26, 20078202007–13 I.R.B.

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
FORT WALTON BEACH-
CRESTVIEW-DESTIN, FL (MSA) OKALOOSA$312,375 $351,833 $427,461 $506,495
ORLANDO-KISSIMMEE, FL
(MSA)ORANGE$338,750 $381,539 $463,553 $534,868
ORLANDO-KISSIMMEE, FL
(MSA)OSCEOLA$338,750 $381,539 $463,553 $534,868
WEST PALM BEACH-BOCA
RATON-BOYNTON BEACHPALM BEACH$477,355 $544,336 $661,343 $763,088
TAMPA-ST. PETERSBURG-
CLEARWATER, FL (MSA)PASCO$292,500 $337,168 $407,558 $506,495
TAMPA-ST. PETERSBURG-
CLEARWATER, FL (MSA)PINELLAS$292,500 $337,168 $407,558 $506,495
LAKELAND, FL (MSA)POLK$270,000 $337,168 $407,558 $506,495
SARASOTA-BRADENTON-
VENICE, FL (MSA)SARASOTA$442,237 $498,097 $605,166 $698,268
ORLANDO-KISSIMMEE, FL
(MSA)SEMINOLE$338,750 $381,539 $463,553 $534,868
JACKSONVILLE, FL (MSA)ST. JOHNS$387,500 $436,447 $530,263 $611,842
PORT ST. LU
CIE-FORT PIERCE,
FL (MSA)ST. LUCIE$364,000 $409,979 $498,105 $574,737
DELTONA-DAYTONA
BEACH-ORMOND BEACH,
FL (MSA)VOLUSIA$302,864 $341,121 $414,446 $506,495
NON-METR
O
WALTON$477,355 $538,520 $654,276 $791,700
GA
ATLANTA
-SANDY
SPRINGS
-MARIETTA, GA
(MSA)BARROW$332,75
0
$374,78
2
$455,34
2
$525,39
5
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)BARTOW$332,750 $374,782 $455,342 $525,395
BRUNSW
ICK, GA (MSA)
BRANTL
EY
$275,9
21
$337,1
68
$407,5
58
$506,4
95
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)BUTTS$332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)CARROLL$332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)CHEROKEE$332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)CLAYTON$332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)COBB$332,750 $374,782 $455,342 $525,395
ATL
ANTA-SANDY
SPR
INGS-MARIETTA, GA
(MS
A)
COW
ETA
$33
2,750
$37
4,782
$45
5,342
$52
5,395
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)DAWSON$332,750 $374,782 $455,342 $525,395
2007–13 I.R.B.821March 26, 2007

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
ATLANTA-SAND
Y
SPRINGS-MARI
ETTA, GA
(MSA)DEKALB$332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)DOUGLAS$332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)FAYETTE$332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)FORSYTH$332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)FULTON$332,750 $374,782 $455,342 $525,395
BRUNSWICK, GA (MSA)GLYNN$275,921 $337,168 $407,558 $506,495
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)GWINNETT$332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)HARALSON$332,750 $374,782 $455,342 $525,395
ATLANTA-
SANDY
SPRINGS-
MARIETTA, GA
(MSA)HEARD$332,75
0
$374,78
2
$455,34
2
$525,39
5
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)HENRY$332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)JASPER$332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)LAMAR$332,750 $374,782 $455,342 $525,395
BRUNSWICK, GA (MSA)MCINTOSH$275,921 $337,168 $407,558 $506,495
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)MERIWETHER$332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)NEWTON$332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)PAULDING$332,750 $374,782 $455,342 $525,395
ATLA
NTA-SANDY
SPRI
NGS-MARIETTA, GA
(MS
A)
PIC
KENS
$33
2,750
$37
4,782
$45
5,342
$52
5,395
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)PIKE$332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)ROCKDALE$332,750 $374,782 $455,342 $525,395
March 26, 20078222007–13 I.R.B.

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
ATLANTA-SAND
Y
SPRINGS-MARI
ETTA, GA
(MSA)SPALDING$332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY
SPRINGS-MARIETTA, GA
(MSA)WALTON$332,750 $374,782 $455,342 $525,395
HIHILO, HI (MICRO)HAWAII$593,750 $668,750 $812,500 $937,500
HONOLULU, HI (MSA)HONOLULU$716,033 $865,929 $1,052,063 $1,213,918
KAPAA, HI (MICRO)KAUAI$716,033 $851,776 $1,034,868 $1,194,079
KAHULUI-W
AILUKU, HI
(MICRO)MAUI$716,033 $840,461 $1,021,18
4
$1,178,28
9
IDBOISE CITY-NAMPA, ID (MSA) ADA$296,250 $337,168 $407,558 $506,495
NON-METROBLAINE$477,355 $584,276 $709,868 $819,079
BOISE CITY-NAMPA, ID (MSA) BOISE$296,250 $337,168 $407,558 $506,495
BOISE CITY-NAMPA, ID (MSA) CANYON$296,250 $337,168 $407,558 $506,495
BOISE CI
TY-NAMPA, ID (MSA)
GEM$296,25
0
$337,16
8
$407,55
8
$506,49
5
COEUR D’ALENE, ID (MSA)KOOTENAI$286,250 $337,168 $407,558 $506,495
BOISE CITY-NAMPA, ID (MSA) OWYHEE$296,250 $337,168 $407,558 $506,495
JACKSON, WY-ID (MICRO)TETON$477,355 $611,117 $738,699 $918,021
NON-METROVALLEY$416,842 $469,495 $570,461 $658,224
ILST. LO
UIS, MO-IL (MSA)
BOND$281,
250
$337,
168
$407,
558
$506,
495
ST. LOUIS, MO-IL (MSA)CALHOUN$281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA)CLINTON$281,250 $337,168 $407,558 $506,495
CHICAGO-NAPERVILLE-JOLIET,
IL METROPOLITANCOOK$362,105 $407,845 $495,512 $571,745
CHICAGO-NAPERVILLE-JOLIET,
IL METROPOLITANDEKALB$362,105 $407,845 $495,512 $571,745
CHICAGO-NAPERVILLE-JOLIET,
IL METROPOLITANDUPAGE$362,105 $407,845 $495,512 $571,745
CHICAGO-NAPERVILLE-JOLIET,
IL METROPOLITANGRUNDY$362,105 $407,845 $495,512 $571,745
ST. LOUIS, MO-IL (MSA)JERSEY$281,250 $337,168 $407,558 $506,495
CH
ICAGO-NAPERVILLE-JOLIET,
IL
METROPOLITAN
KA
NE
$3
62,105
$4
07,845
$4
95,512
$5
71,745
CHICAGO-NAPERVILLE-JOLIET,
IL METROPOLITANKENDALL$362,105 $407,845 $495,512 $571,745
LA
KE COUNTY-KENOSHA
CO
UNTY, IL-WI METROP
LA
KE
$3
62,105
$4
07,845
$4
95,512
$5
71,745
ST. LOUIS, MO-IL (MSA)MACOUPIN$281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA)MADISON$281,250 $337,168 $407,558 $506,495
CHICAGO-NAPERVILLE-JOLIET,
IL METROPOLITANMCHENRY$362,105 $407,845 $495,512 $571,745
S
T. LOUIS, MO-IL (MSA)
M
ONROE
$
281,250
$
337,168
$
407,558
$
506,495
ST. LOUIS, MO-IL (MSA)ST. CLAIR$281,250 $337,168 $407,558 $506,495
CHICAGO-NAPERVILLE-JOLIET,
IL METROPOLITANWILL$362,105 $407,845 $495,512 $571,745
2007–13 I.R.B.823March 26, 2007

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
IN
LOUISVILLE-JEFFERON
COUNTY, KY-IN (MSA)CLARK$281,125 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN,
OH-KY-IN (MSA)DEARBORN$332,500 $374,500 $455,000 $525,000
LOUISVILLE-JEFFERON
COUNTY, KY-IN (MSA)FLOYD$281,125 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN,
OH-KY-IN (MSA)FRANKLIN$332,500 $374,500 $455,000 $525,000
LOUISVILLE-JEFFERON
COUNTY, KY-IN (MSA)HARRISON$281,125 $337,168 $407,558 $506,495
GARY, IN METROPOLITAN
DIVISIONJASPER$362,105 $407,845 $495,512 $571,745
GARY, IN METROPOLITAN
DIVISIONLAKE$362,105 $407,845 $495,512 $571,745
GARY, IN METROPOLITAN
DIVISIONNEWTON$362,105 $407,845 $495,512 $571,745
CINCINNATI-MIDDLETOWN,
OH-KY-IN (MSA)OHIO$332,500 $374,500 $455,000 $525,000
GARY, IN METROPOLITAN
DIVISIONPORTER$362,105 $407,845 $495,512 $571,745
LOUISVILLE-JEFFERON
COUNTY, KY-IN (MSA)WASHINGTON$281,125 $337,168 $407,558 $506,495
KSKANSAS CITY, MO-KS (MSA)FRANKLIN$268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA)JOHNSON$268,750 $337,168 $407,558 $506,495
KANSAS C
ITY, MO-KS (MSA)
LEAVENW
ORTH
$268,75
0
$337,16
8
$407,55
8
$506,49
5
KANSAS CITY, MO-KS (MSA)LINN$268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA)MIAMI$268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA)WYANDOTTE$268,750 $337,168 $407,558 $506,495
KY
CINCINNATI-MIDDLETOWN,
OH-KY-IN (MSA)BOONE$332,500 $374,500 $455,000 $525,000
CINCINNATI-MIDDLETOWN,
OH-KY-IN (MSA)BRACKEN$332,500 $374,500 $455,000 $525,000
LOUISVILLE-JEFFERON
COUNTY, KY-IN (MSA)BULLITT$281,125 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN,
OH-KY-IN (MSA)CAMPBELL$332,500 $374,500 $455,000 $525,000
CINCINNATI-MIDDLETOWN,
OH-KY-IN (MSA)GALLATIN$332,500 $374,500 $455,000 $525,000
CINCINNATI-MIDDLETOWN,
OH-KY-IN (MSA)GRANT$332,500 $374,500 $455,000 $525,000
LOUISVILLE-JEFFERON
COUNTY, KY-IN (MSA)HENRY$281,125 $337,168 $407,558 $506,495
LOUISVILLE-JEFFERON
COUNTY, KY-IN (MSA)JEFFERSON$281,125 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN,
OH-KY-IN (MSA)KENTON$332,500 $374,500 $455,000 $525,000
LOUISVILLE-JEFFERON
COUNTY, KY-IN (MSA)MEADE$281,125 $337,168 $407,558 $506,495
LOUISVILLE-JEFFERON
COUNTY, KY-IN (MSA)NELSON$281,125 $337,168 $407,558 $506,495
March 26, 20078242007–13 I.R.B.

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
LOUISVILLE-JEFFERON
COUNTY, KY-IN (MSA)OLDHAM$281,125 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN,
OH-KY-IN (MSA)PENDLETON$332,500 $374,500 $455,000 $525,000
LOUISVILLE-JEFFERON
COUNTY, KY-IN (MSA)SHELBY$281,125 $337,168 $407,558 $506,495
LOUISVILLE-JEFFERON
COUNTY, KY-IN (MSA)SPENCER$281,125 $337,168 $407,558 $506,495
LOUISVILLE-JEFFERON
COUNTY, KY-IN (MSA)TRIMBLE$281,125 $337,168 $407,558 $506,495
MABARNSTABLE
TOWN, MA (MSA)
BARNSTABLE$477,355 $577,237 $701,316 $809,211
PROVIDENCE-NEW
BEDFORD-FALL RIVER, RI-MA BRISTOL$416,250 $472,891 $571,567 $710,309
NON-METRODUKES$477,355 $611,117 $738,699 $918,021
ESSEX COUNTY, MA
METROPOLITAN DIVISIONESSEX$477,355 $606,728 $737,146 $850,554
SPRINGFIELD, MA (MSA)FRANKLIN$273,500 $337,168 $407,558 $506,495
SPRINGFIELD, MA (MSA)HAMPDEN$273,500 $337,168 $407,558 $506,495
SPRINGFIELD, MA (MSA)HAMPSHIRE$273,500 $337,168 $407,558 $506,495
CAMBRIDGE-NEWTON-
FRAMINGHAM, MA
METROPOLITANMIDDLESEX$477,355 $606,728 $737,146 $850,554
NON-METRONANTUCKET$477,355 $611,117 $738,699 $918,021
BOSTON-QUINCY, MA
METROPOLITAN DIVISIONNORFOLK$477,355 $606,728 $737,146 $850,554
BOSTON-QUINCY, MA
METROPOLITAN DIVISIONPLYMOUTH$477,355 $606,728 $737,146 $850,554
BOSTON-QUINCY, MA
METROPOLITAN DIVISIONSUFFOLK$477,355 $606,728 $737,146 $850,554
WORCESTER, MA (MSA)WORCESTER$385,000 $488,975 $591,028 $734,521
MD
BALTI
MORE-TOWSON, MD
(MSA)ANNE A
RUNDEL
$477,
355
$537,
653
$653,
222
$753,
718
BALTIMORE-TOWSON, MD
(MSA)BALTIMORE$477,355 $537,653 $653,222 $753,718
BALTI
MORE-TOWSON, MD
(MSA
)
BALT
IMORE CITY
$477
,355
$537
,653
$653
,222
$753
,718
WASHINGTON-ARLINGTON-
ALEXANDRIA, DC-VA-
METROPOLITANCALVERT$477,355 $611,117 $738,699 $888,158
BALTIMORE-TOWSON, MD
(MSA)CARROLL$477,355 $537,653 $653,222 $753,718
WILMINGTON, DE-MD-NJ
METROPOLITAN DIVISIONCECIL$385,112 $433,758 $526,996 $608,072
WASHINGTON-ARLINGTON-
ALEXANDRIA, DC-VA-
METROPOLITANCHARLES$477,355 $611,117 $738,699 $888,158
BETHESDA-GAITHERSBURG-
FREDERICK, MD
METROPOLITANFREDERICK$477,355 $611,117 $738,699 $888,158
NON-METROGARRETT$437,500 $492,763 $598,684 $690,789
2007–13 I.R.B.825March 26, 2007

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
BALTIMORE-TOWSON, MD
(MSA)HARFORD$477,355 $537,653 $653,222 $753,718
BALTIMORE-TOWSON, MD
(MSA)HOWARD$477,355 $537,653 $653,222 $753,718
NON-METROKENT$327,089 $368,405 $447,596 $516,457
BETHESDA-GAITHERSBURG-
FREDERICK, MD
METROPOLITANMONTGOMERY$477,355 $611,117 $738,699 $888,158
WASHINGTON-
ARLINGTON-
ALEXANDRIA
,DC-VA-
METROPOLIT
AN
PRINCE GEOR
GE’S
$477,355 $611,117 $738,699 $888,158
BALTIMORE-TOWSON, MD
(MSA)QUEEN ANNE’S$477,355 $537,653 $653,222 $753,718
SALISBURY, MD (MSA)SOMERSET$296,250 $337,168 $407,558 $506,495
LEXINGTON PARK, MD (MICRO) ST. MARY’S$371,053 $417,922 $507,755 $585,872
EASTON, MD
(MICRO)
TALBOT$371,250 $418,145 $508,026 $599,342
HAGERSTOWN-MARTINSBURG,
MD-WV (MSA)WASHINGTON$362,500 $408,289 $496,053 $572,368
SALISBURY, MD (MSA)WICOMICO$296,250 $337,168 $407,558 $506,495
OCEAN PINES, MD (MICRO)WORCESTER$437,499 $492,761 $598,682 $690,787
ME
PORTLAND-SOUTH
PORTLAND-BIDDEFORD,
ME (MSA)CUMBERLAND$336,875 $379,428 $460,987 $531,908
NON-ME
TRO
HANCOC
K
$272,5
00
$337,1
68
$407,5
58
$506,4
95
NON-METROLINCOLN$317,625 $357,746 $434,645 $506,495
PORTLA
ND-SOUTH
PORTLA
ND-BIDDEFORD,
ME (MS
A)
SAGAD
AHOC
$336,
875
$379,
428
$460,
987
$531,
908
PORTLAND-SOUTH
PORTLAND-BIDDEFORD,
ME (MSA)YORK$336,875 $379,428 $460,987 $531,908
MI
NILES-BENTON HARBOR, MI
(MSA)BERRIEN$298,750 $337,168 $408,816 $506,495
KALA
MAZOO-PORTAGE, MI
(MSA
)
KALA
MAZOO
$285
,625
$337
,168
$407
,558
$506
,495
WARREN-TROY-FARMINGTON
HILLS, MI METROPOLITANLAPEER$297,500 $337,168 $407,558 $506,495
ADRIAN, MI (MICRO)LENAWEE$297,500 $337,168 $407,558 $506,495
WARREN-TROY-FARMINGTON
HILLS, MI METROPOLITANLIVINGSTON$297,500 $337,168 $407,558 $506,495
WARREN-TROY-FARMINGTON
HILLS, MI METROPOLITANMACOMB$297,500 $337,168 $407,558 $506,495
MONROE, MI (MSA)MONROE$297,500 $337,168 $407,558 $506,495
WARREN-TROY-FARMINGTON
HILLS, MI METROPOLITANOAKLAND$297,500 $337,168 $407,558 $506,495
WARREN-TROY-FARMINGTON
HILLS, MI METROPOLITANST. CLAIR$297,500 $337,168 $407,558 $506,495
KALAMAZOO-PORTAGE, MI
(MSA)VAN BUREN$285,625 $337,168 $407,558 $506,495
ANN ARBOR, MI (MSA)WASHTENAW$344,875 $388,438 $471,934 $544,539
March 26, 20078262007–13 I.R.B.

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
DETROIT-LIVONIA-DEARBORN,
MI METROPOLITANWAYNE$297,500 $337,168 $407,558 $506,495
MN
MINNEAPOLIS-ST.
PAUL-BLOOMINGTON, MN-WI ANOKA$331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST.
PAUL-BLOOMINGTON, MN-WI CARVER$331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST.
PAUL-BLOOMINGTON, MN-WI CHISAGO$331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST.
PAUL-BLOOMINGTON, MN-WI DAKOTA$331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST.
PAUL-BLOOMINGTON, MN-WI HENNEPIN$331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST.
PAUL-BLOOMINGTON, MN-WI ISANTI$331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST.
PAUL-BLOOMINGTON, MN-WI RAMSEY$331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST.
PAUL-BLOOMINGTON, MN-WI SCOTT$331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST.
PAUL-BLOOMINGTON, MN-WI SHERBURNE$331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST.
PAUL-BLOOMINGTON, MN-WI WASHINGTON$331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST.
PAUL-BLOOMINGTON, MN-WI WRIGHT$331,250 $373,092 $453,289 $523,026
MOKANSAS CITY, MO-KS (MSA)BATES$268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA)CALDWELL$268,750 $337,168 $407,558 $506,495
KANSAS C
ITY, MO-KS (MSA)
CASS$268,75
0
$337,16
8
$407,55
8
$506,49
5
KANSAS CITY, MO-KS (MSA)CLAY$268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA)CLINTON$268,750 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA)CRAWFORD$281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA)FRANKLIN$281,250 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA)JACKSON$268,750 $337,168 $407,558 $506,495
ST. LO
UIS, MO-IL (MSA)
JEFFE
RSON
$281,
250
$337,
168
$407,
558
$506,
495
KANSAS CITY, MO-KS (MSA)LAFAYETTE$268,750 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA)LINCOLN$281,250 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA)PLATTE$268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA)RAY$268,750 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA)ST. CHARLES$281,250 $337,168 $407,558 $506,495
ST
. LOUIS, MO-IL (MSA)
ST
. LOUIS
$2
81,250
$3
37,168
$4
07,558
$5
06,495
ST. LOUIS, MO-IL (MSA)ST. LOUIS CITY$281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA)WARREN$281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA)WASHINGTON$281,250 $337,168 $407,558 $506,495
MTMISSOULA, MT (MSA)MISSOULA$290,625 $337,168 $407,558 $506,495
NCWILMINGTON, NC (MSA)BRUNSWICK$303,125 $341,414 $414,803 $506,495
VIRGINIA BEACH-NORFOLK-
NEWPORT NEWS, VA-NC (MSA) CURRITUCK$412,500 $464,605 $564,474 $651,316
RALEIGH-CARY, NC (MSA)FRANKLIN$266,875 $337,168 $407,558 $506,495
2007–13 I.R.B.827March 26, 2007

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
RALEIGH-CARY, NC (MSA)JOHNSTON$266,875 $337,168 $407,558 $506,495
WILMINGTON, NC (MSA)NEW HANOVER$303,125 $341,414 $414,803 $506,495
JACKSONVILLE, NC (MSA)ONSLOW$306,250 $344,934 $419,079 $506,495
WILMINGTON, NC (MSA)PENDER$303,125 $341,414 $414,803 $506,495
RALEIGH-CA
RY, NC (MSA)
WAKE$266,875 $337,168 $407,558 $506,495
NH
MANCHESTER-NASHUA, NH
(MSA)HILLSBOROUGH$401,875 $488,975 $591,028 $734,521
CONCORD, NH (MICRO)MERRIMACK$277,500 $337,168 $407,558 $506,495
ROCKINGHAM COUNTY-
STRAFFORD COUNTY, NH
METROPOLITANROCKINGHAM$477,355 $606,728 $737,146 $850,554
ROCKINGHAM COUNTY-
STRAFFORD COUNTY, NH
METROPOLITANSTRAFFORD$477,355 $606,728 $737,146 $850,554
NJATLANTIC CITY, NJ (MSA)ATLANTIC$425,000 $478,684 $581,579 $671,053
NEW YORK-WHITE
PLAINS-WAYNE, NY-NJ
METROPOLITANBERGEN$477,355 $611,117 $738,699 $918,021
CAMDEN, NJ METROPOLITAN
DIVISIONBURLINGTON$385,112 $433,758 $526,996 $608,072
CAMDEN, NJ METROPOLITAN
DIVISIONCAMDEN$385,112 $433,758 $526,996 $608,072
OCEAN CITY, NJ (MSA)CAPE MAY$477,355 $558,934 $679,079 $783,553
VINELAND-MILLVILLE-
BRIDGETON, NJ (MSA)CUMBERLAND$405,000 $456,158 $554,211 $639,474
NEWARK-UNION, NJ-PA
METROPOLITAN DIVISIONESSEX$477,355 $611,117 $738,699 $918,021
CAMDEN, NJ METROPOLITAN
DIVISIONGLOUCESTER$385,112 $433,758 $526,996 $608,072
NEW YORK-WHITE
PLAINS-WAYNE, NY-NJ
METROPOLITANHUDSON$477,355 $611,117 $738,699 $918,021
NEWARK-UNION, NJ-PA
METROPOLITAN DIVISIONHUNTERDON$477,355 $611,117 $738,699 $918,021
TRENTON-EWING, NJ (MSA)MERCER$439,550 $495,071 $601,489 $694,026
EDISON, NJ METROPOLITAN
DIVISIONMIDDLESEX$477,355 $611,117 $738,699 $918,021
EDISON, NJ METROPOLITAN
DIVISIONMONMOUTH$477,355 $611,117 $738,699 $918,021
NEWARK-UNION, NJ-PA
METROPOLITAN DIVISIONMORRIS$477,355 $611,117 $738,699 $918,021
EDISON, NJ METROPOLITAN
DIVISIONOCEAN$477,355 $611,117 $738,699 $918,021
NEW YORK-WHITE
PLAINS-WAYNE, NY-NJ
METROPOLITANPASSAIC$477,355 $611,117 $738,699 $918,021
WILMINGTON, DE-MD-NJ
METROPOLITAN DIVISIONSALEM$385,112 $433,758 $526,996 $608,072
EDISON, NJ METROPOLITAN
DIVISIONSOMERSET$477,355 $611,117 $738,699 $918,021
March 26, 20078282007–13 I.R.B.

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
NEWARK-UNION, NJ-PA
METROPOLITAN DIVISIONSUSSEX$477,355 $611,117 $738,699 $918,021
NEWARK-UNION, NJ-PA
METROPOLITAN DIVISIONUNION$477,355 $611,117 $738,699 $918,021
ALLENTOWN-BETHLEHEM-
EASTON, PA-NJ (MSA)WARREN$402,192 $459,255 $557,974 $643,816
NMLOS ALAMOS, N
M (MICRO)
LOS ALAMOS$318,750 $359,013 $436,184 $506,495
FARMINGTON, NM (MSA)SAN JUAN$281,250 $337,168 $407,558 $506,495
SANTA FE, NM (MSA)SANTA FE$381,999 $449,471 $546,086 $630,099
NVCARSON CITY, NV (MSA)CARSON CITY$398,750 $449,118 $545,658 $629,605
LAS VEGAS-PARADISE, NV
(MSA)CLARK$400,000 $450,526 $547,368 $631,579
GARDNERVILLE RANCHOS, NV
(MICRO)DOUGLAS$477,355 $582,829 $708,158 $817,105
ELKO, NV (MICRO)ELKO$325,000 $366,053 $444,737 $513,158
ELKO, NV (
MICRO)
EUREKA$325,000 $366,053 $444,737 $513,158
FERNLEY, NV (MICRO)LYON$331,250 $373,092 $453,289 $523,026
PAHRUMP, NV (MICRO)NYE$325,000 $366,053 $444,737 $513,158
RENO-SPARKS, NV (MSA)STOREY$477,355 $537,653 $653,222 $753,718
RENO-SPARKS, NV (MSA)WASHOE$477,355 $537,653 $653,222 $753,718
NY
ALBANY-SCHENECTADY-
TROY, NY (MSA)ALBANY$300,000 $337,895 $410,526 $506,495
NEW YORK-WHITE
PLAINS-WAYNE, NY-NJ METRO BRONX$477,355 $611,117 $738,699 $918,021
POUGHKEEPSIE-NEWBURGH-
MIDDLETOWN, NY (MSA)DUTCHESS$443,750 $499,803 $607,237 $700,658
BUFFALO-NIAGARA FALLS, NY
(MSA)ERIE$275,075 $337,168 $407,558 $506,495
NEW YORK-WHITE
PLAINS-WAYNE, NY-NJ
METROPOLITANKINGS$477,355 $611,117 $738,699 $918,021
ROCHESTER, NY (MSA)LIVINGSTON$268,750 $337,168 $407,558 $506,495
SYR
ACUSE, NY (MSA)
MAD
ISON
$26
7,500
$33
7,168
$40
7,558
$50
6,495
ROCHESTER, NY (MSA)MONROE$268,750 $337,168 $407,558 $506,495
NASSAU-SUFFOLK, NY
METROPOLITAN DIVISIONNASSAU$477,355 $611,117 $738,699 $918,021
NEW YORK-WHITE
PLAINS-WAYNE, NY-NJ
METROPOLITANNEW YORK$477,355 $611,117 $738,699 $918,021
BU
FFALO-NIAGARA FALLS, NY
(M
SA)
NI
AGARA
$2
75,075
$3
37,168
$4
07,558
$5
06,495
SYRACUSE, NY (MSA)ONONDAGA$267,500 $337,168 $407,558 $506,495
ROCHESTER, NY (MSA)ONTARIO$268,750 $337,168 $407,558 $506,495
POUGHKEEPSIE-NEWBURGH-
MIDDLETOWN, NY (MSA)ORANGE$443,750 $499,803 $607,237 $700,658
R
OCHESTER, NY (MSA)
O
RLEANS
$
268,750
$
337,168
$
407,558
$
506,495
SYRACUSE, NY (MSA)OSWEGO$267,500 $337,168 $407,558 $506,495
NEW YORK-WHITE
PLAINS-WAYNE, NY-NJ METRO PUTNAM$477,355 $611,117 $738,699 $918,021
2007–13 I.R.B.829March 26, 2007

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
NEW YORK-WHITE
PLAINS-WAYNE, NY-NJ METRO QUEENS$477,355 $611,117 $738,699 $918,021
ALBANY-SCHENECTADY-
TROY, NY (MSA)RENSSELAER$300,000 $337,895 $410,526 $506,495
NEW YORK-WHITE
PLAINS-WAYNE, NY-NJ METRO RICHMOND$477,355 $611,117 $738,699 $918,021
NEW YORK-WHITE
PLAINS-WAYNE, NY-NJ METRO ROCKLAND$477,355 $611,117 $738,699 $918,021
ALBANY-SCHENECTADY-
TROY, NY (MSA)SARATOGA$300,000 $337,895 $410,526 $506,495
ALBANY-SCHENECTADY-
TROY, NY (MSA)SCHENECTADY$300,000 $337,895 $410,526 $506,495
ALBANY-SCHENECTADY-
TROY, NY (MSA)SCHOHARIE$300,000 $337,895 $410,526 $506,495
NASSAU-SUFFOLK, NY
METROPOLITAN DIVISIONSUFFOLK$477,355 $611,117 $738,699 $918,021
KINGSTON, NY (MSA)ULSTER$406,250 $457,566 $555,921 $641,447
ROCHESTER, NY (MSA)WAYNE$268,750 $337,168 $407,558 $506,495
NEW YORK-W
HITE
PLAINS-WA
YNE, NY-NJ METRO
WESTCHEST
ER
$477,355 $611,117 $738,699 $918,021
OHASHTABULA, OH (MICRO)ASHTABULA$290,797 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN,
OH-KY-IN (MSA)BROWN$332,500 $374,500 $455,000 $525,000
CINCINNATI-MIDDLETOWN,
OH-KY-IN (MSA)BUTLER$332,500 $374,500 $455,000 $525,000
CANTON-MASSILLON, OH
(MSA)CARROLL$277,500 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN,
OH-KY-IN (MSA)CLERMONT$332,500 $374,500 $455,000 $525,000
CLEVELAND-ELYRIA-MENTOR,
OH (MSA)CUYAHOGA$297,550 $337,168 $407,558 $506,495
COLUMB
US, OH (MSA)
DELAWA
RE
$307,5
00
$346,3
42
$420,7
89
$506,4
95
COLUMBUS, OH (MSA)FAIRFIELD$307,500 $346,342 $420,789 $506,495
COLUMBUS, OH (MSA)FRANKLIN$307,500 $346,342 $420,789 $506,495
CLEVELAND-ELYRIA-MENTOR,
OH (MSA)GEAUGA$297,550 $337,168 $407,558 $506,495
DAYTO
N, OH (MSA)
GREEN
E
$271,
250
$337,
168
$407,
558
$506,
495
CINCINNATI-MIDDLETOWN,
OH-KY-IN (MSA)HAMILTON$332,500 $374,500 $455,000 $525,000
CLEV
ELAND-ELYRIA-MENTOR,
OH (M
SA)
LAKE$297
,550
$337
,168
$407
,558
$506
,495
COLUMBUS, OH (MSA)LICKING$307,500 $346,342 $420,789 $506,495
CLEVELAND-ELYRIA-MENTOR,
OH (MSA)LORAIN$297,550 $337,168 $407,558 $506,495
COLUMBUS, OH (MSA)MADISON$307,500 $346,342 $420,789 $506,495
CLEVELAND-ELYRIA-MENTOR,
OH (MSA)MEDINA$297,550 $337,168 $407,558 $506,495
DAYTON, OH (MSA)MIAMI$271,250 $337,168 $407,558 $506,495
DAYTON, OH (MSA)MONTGOMERY$271,250 $337,168 $407,558 $506,495
COLUMBUS, OH (MSA)MORROW$307,500 $346,342 $420,789 $506,495
CO
LUMBUS, OH (MSA)
PI
CKAWAY
$3
07,500
$3
46,342
$4
20,789
$5
06,495
March 26, 20078302007–13 I.R.B.

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
AKRON, OH (MSA)PORTAGE$330,000 $371,684 $451,579 $521,053
DAYTON, OH (MSA)PREBLE$271,250 $337,168 $407,558 $506,495
CANTON-MASSI
LLON, OH
(MSA)STARK$277,500 $337,168 $407,558 $506,495
AKRON, OH (MSA)SUMMIT$330,000 $371,684 $451,579 $521,053
COLUMBUS, OH (MSA)UNION$307,500 $346,342 $420,789 $506,495
CINCINNATI-MIDDLETOWN,
OH-KY-IN (MSA)WARREN$332,500 $374,500 $455,000 $525,000
ORCORVALLIS, OR (MSA)BENTON$307,500 $346,342 $420,789 $506,495
PORTLAND-VANCOUVER-
BEAVERTON, OR-WA (MSA)CLACKAMAS$374,474 $421,776 $512,437 $591,316
ASTORIA, OR (MICRO)CLATSOP$287,500 $337,168 $407,558 $506,495
PORTLAND-VANCOUVER-
BEAVERTON, OR-WA (MSA)COLUMBIA$374,474 $421,776 $512,437 $591,316
BEND, OR (MSA)DESCHUTES$427,250 $481,218 $584,658 $674,605
MEDFORD, OR (MSA)JACKSON$422,500 $475,868 $578,158 $667,105
GRANTS PASS, OR (MICRO)JOSEPHINE$324,868 $365,904 $444,557 $512,961
EUGENE-SPRINGFIELD, OR
(MSA)LANE$331,250 $373,092 $453,289 $523,026
NON-METROLINCOLN$277,500 $337,168 $407,558 $506,495
SALEM, OR (MSA)MARION$285,000 $337,168 $407,558 $506,495
PORTLAND-VANCOUVER-
BEAVERTON, OR-WA (MSA)MULTNOMAH$374,474 $421,776 $512,437 $591,316
SALEM, OR (MSA)POLK$285,000 $337,168 $407,558 $506,495
NON-METROTILLAMOOK$297,500 $337,168 $407,558 $506,495
PORTL
AND-VANCOUVER-
BEAVE
RTON, OR-WA (MSA)
WASHI
NGTON
$374,
474
$421,
776
$512,
437
$591,
316
PORTLAND-VANCOUVER-
BEAVERTON, OR-WA (MSA)YAMHILL$374,474 $421,776 $512,437 $591,316
PAPITTSBURGH, PA (MSA)ALLEGHENY$327,500 $368,868 $448,158 $517,105
PIT
TSBURGH, PA (MSA)
ARM
STRONG
$32
7,500
$36
8,868
$44
8,158
$51
7,105
PITTSBURGH, PA (MSA)BEAVER$327,500 $368,868 $448,158 $517,105
READING, PA (MSA)BERKS$300,000 $337,895 $410,526 $506,495
PHILADELPHIA, PA
METROPOLITAN DIVISIONBUCKS$385,112 $433,758 $526,996 $608,072
PI
TTSBURGH, PA (MSA)
BU
TLER
$3
27,500
$3
68,868
$4
48,158
$5
17,105
ALLENTOWN-BETHLEHEM-
EASTON, PA-NJ (MSA)CARBON$402,192 $459,255 $557,974 $643,816
STATE COLLEGE, PA (MSA)CENTRE$279,375 $337,168 $407,558 $506,495
PHILADELPHIA, PA
METROPOLITAN DIVISIONCHESTER$385,112 $433,758 $526,996 $608,072
PHILADELPHIA, PA
METROPOLITAN DIVISIONDELAWARE$385,112 $433,758 $526,996 $608,072
PITTSBURGH, PA (MSA)FAYETTE$327,500 $368,868 $448,158 $517,105
LANCASTER, PA (MSA)LANCASTER$383,250 $431,661 $524,447 $605,132
ALLENTOWN-BETHLEHEM-
EASTON, PA-NJ (MSA)LEHIGH$402,192 $459,255 $557,974 $643,816
PHILADELPHIA, PA
METROPOLITAN DIVISIONMONTGOMERY$385,112 $433,758 $526,996 $608,072
2007–13 I.R.B.831March 26, 2007

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
ALLENTOWN-BETHLEHEM-
EASTON, PA-NJ (MSA)NORTHAMPTON$402,192 $459,255 $557,974 $643,816
PHILADELPHIA, PA
METROPOLITAN DIVISIONPHILADELPHIA$385,112 $433,758 $526,996 $608,072
NEWARK-UNION, NJ-PA
METROPOLITAN DIVISIONPIKE$477,355 $611,117 $738,699 $918,021
PITTSBURGH, PA (MSA)WASHINGTON$327,500 $368,868 $448,158 $517,105
PITTSBURGH,
PA (MSA)
WESTMORELAN
D
$327,500 $368,868 $448,158 $517,105
YORK-HANOVER, PA (MSA)YORK$424,587 $478,218 $581,014 $670,401
PR
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)AGUAS BUENAS$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)AIBONITO$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)ARECIBO$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)BARCELONETA$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)BARRANQUITAS$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)BAYAMON$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)CAGUAS$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)CAMUY$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)CANOVANAS$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)CAROLINA$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)CATANO$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)CAYEY$325,000 $366,053 $444,737 $513,158
FAJARDO, PR (MSA)CEIBA$325,000 $366,053 $444,737 $513,158
SAN JUA
N-CAGUAS-
GUAYNA
BO, PR (MSA)
CIALES$325,0
00
$366,0
53
$444,7
37
$513,1
58
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)CIDRA$325,000 $366,053 $444,737 $513,158
SAN JU
AN-CAGUAS-
GUAYN
ABO, PR (MSA)
COMER
IO
$325,
000
$366,
053
$444,
737
$513,
158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)COROZAL$325,000 $366,053 $444,737 $513,158
SAN JU
AN-CAGUAS-
GUAY
NABO, PR (MSA)
DORA
DO
$325
,000
$366
,053
$444
,737
$513
,158
FAJARDO, PR (MSA)FAJARDO$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)FLORIDA$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)GUAYNABO$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)GURABO$325,000 $366,053 $444,737 $513,158
March 26, 20078322007–13 I.R.B.

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)HATILLO$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)HUMACAO$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)JUNCOS$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)LAS PIEDRAS$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)LOIZA$325,000 $366,053 $444,737 $513,158
FAJARDO, PR (MSA)LUQUILLO$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)MANATI$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)MAUNABO$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)MOROVIS$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)NAGUABO$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)NARANJITO$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)OROCOVIS$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)QUEBRADILLAS$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)RIO GRANDE$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)SAN JUAN$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)SAN LORENZO$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)TOA ALTA$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)TOA BAJA$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)TRUJILLO ALTO$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)VEGA ALTA$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)VEGA BAJA$325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-
GUAYNABO, PR (MSA)YABUCOA$325,000 $366,053 $444,737 $513,158
RI
PROVIDENCE-NEW
BEDFORD-FALL RIVER, RI-MA BRISTOL$416,250 $472,891 $571,567 $710,309
PROVI
DENCE-NEW
BEDFO
RD-FALL RIVER, RI-MA
KENT$416,
250
$472,
891
$571,
567
$710,
309
PROVIDENCE-NEW
BEDFORD-FALL RIVER, RI-MA NEWPORT$416,250 $472,891 $571,567 $710,309
PROV
IDENCE-NEW
BEDF
ORD-FALL RIVER, RI-MA
PROV
IDENCE
$416
,250
$472
,891
$571
,567
$710
,309
PROVIDENCE-NEW
BEDFORD-FALL RIVER, RI-MA WASHINGTON$416,250 $472,891 $571,567 $710,309
2007–13 I.R.B.833March 26, 2007

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
SC
HILTON HEAD ISLAND-
BEAUFORT, SC (MICRO)BEAUFORT$373,750 $420,961 $511,447 $590,132
CHARLESTON-NORTH
CHARLESTON, SC (MSA)BERKELEY$334,375 $376,612 $457,566 $527,961
CHARLESTON-NORTH
CHARLESTON, SC (MSA)CHARLESTON$334,375 $376,612 $457,566 $527,961
CHARLESTON-NORTH
CHARLESTON, SC (MSA)DORCHESTER$334,375 $376,612 $457,566 $527,961
HILTON HEAD ISLAND-
BEAUFORT, SC (MICRO)JASPER$373,750 $420,961 $511,447 $590,132
TN
NASHVILLE-DAVID-
SON—MURFREESBORO, TN
(MSA)CANNON$297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVID-
SON—MURFREESBORO, TN
(MSA)CHEATHAM$297,500 $337,168 $407,558 $506,495
NASHVILLE
-DAVID-
SON—MURFR
EESBORO, TN
(MSA)DAVIDSON$297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVID-
SON—MURFREESBORO, TN
(MSA)DICKSON$297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVID-
SON—MURFREESBORO, TN
(MSA)HICKMAN$297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVID-
SON—MURFREESBORO, TN
(MSA)MACON$297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVID-
SON—MURFREESBORO, TN
(MSA)ROBERTSON$297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVID-
SON—MURFREESBORO, TN
(MSA)RUTHERFORD$297,500 $337,168 $407,558 $506,495
NASHVI
LLE-DAVID-
SON—MU
RFREESBORO, TN
(MSA)SMITH$297,
500
$337,
168
$407,
558
$506,
495
NASHVILLE-DAVID-
SON—MURFREESBORO, TN
(MSA)SUMNER$297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVID-
SON—MURFREESBORO, TN
(MSA)TROUSDALE$297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVID-
SON—MURFREESBORO, TN
(MSA)WILLIAMSON$297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVID-
SON—MURFREESBORO, TN
(MSA)WILSON$297,500 $337,168 $407,558 $506,495
UTPROVO-OREM, UT (MSA)JUAB$273,750 $337,168 $407,558 $506,495
NON-METROKANE$268,750 $337,168 $407,558 $506,495
March 26, 20078342007–13 I.R.B.

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
SALT LAKE CITY, UT (MSA)SALT LAKE$306,250 $344,934 $419,079 $506,495
SALT LAKE CITY, UT (MSA)SUMMIT$306,250 $344,934 $419,079 $506,495
SALT LAKE CITY, UT (MSA)TOOELE$306,250 $344,934 $419,079 $506,495
PROVO-OREM, UT (MSA)UTAH$273,750 $337,168 $407,558 $506,495
ST. GEORGE,
UT (MSA)
WASHINGTON$366,875 $413,217 $502,039 $579,276
VACHARLOTTESVILLE, VA (MSA) ALBEMARLE$399,375 $449,822 $546,513 $630,592
WASHINGTON-ARLINGTON-
ALEXANDRIA, DC-VA-
METROPOLITANALEXANDRIA$477,355 $611,117 $738,699 $888,158
RICHMOND, VA (MSA)AMELIA$344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-
ALEXANDRIA, DC-VA-
METROPOLITANARLINGTON$477,355 $611,117 $738,699 $888,158
RICHMOND, VA (MSA)CAROLINE$344,375 $387,875 $471,250 $543,750
RICHMOND, VA (MSA)CHARLES CITY$344,375 $387,875 $471,250 $543,750
CHARLOTTESVILLE, VA (MSA) CHARLOTTESVILLE $399,375 $449,822$546,513 $630,592
VIRGINIA BEACH-
NORFOLK-NEWPORT NEWS,
VA-METROPOLITANCHESAPEAKE$412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA)CHESTERFIELD$344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-
ALEXANDRIA, DC-VA-
METROPOLITANCLARKE$477,355 $611,117 $738,699 $888,158
RICHMOND, VA (MSA)COLONIAL HEIGHT $344,375 $387,875 $471,250 $543,750
CULPEPER, VA (MICRO)CULPEPER$381,999 $448,442 $544,837 $628,658
RICH
MOND, VA (MSA)
CUMB
ERLAND
$344
,375
$387
,875
$471
,250
$543
,750
RICHMOND, VA (MSA)DINWIDDIE$344,375 $387,875 $471,250 $543,750
WASH
INGTON-ARLINGTON-
ALEX
ANDRIA, DC-VA-
MET
ROPOLITAN
FAI
RFAX
$47
7,355
$61
1,117
$73
8,699
$88
8,158
WASHINGTON-ARLINGTON-
ALEXANDRIA, DC-VA-
METROPOLITANFAIRFAX IND$477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-
ALEXANDRIA, DC-VA-
METROPOLITANFALLS CHURCH$477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-
ALEXANDRIA, DC-VA-
METROPOLITANFAUQUIER$477,355 $611,117 $738,699 $888,158
CHARLOTTESVILLE, VA (MSA) FLUVANNA$399,375 $449,822 $546,513 $630,592
WINCHESTER, VA-WV (MSA)FREDERICK$475,000 $535,000 $650,000 $750,000
WASHINGTON-ARLINGTON-
ALEXANDRIA, DC-VA-
METROPOLITANFREDERICKSBURG $477,355 $611,117 $738,699 $888,158
VIRGINIA BEACH-
NORFOLK-NEWPORT NEWS,
VA-METROPOLITANGLOUCESTER$412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA)GOOCHLAND$344,375 $387,875 $471,250 $543,750
CHARLOTTESVILLE, VA (MSA) GREENE$399,375 $449,822 $546,513 $630,592
2007–13 I.R.B.835March 26, 2007

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
VIRGINIA BEAC
H-
NORFOLK-NEWP
ORT NEWS,
VA-METROPOLI
TAN
HAMPTON$412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA)HANOVER$344,375 $387,875 $471,250 $543,750
RICHMOND, VA (MSA)HENRICO$344,375 $387,875 $471,250 $543,750
RICHMOND, VA (MSA)HOPEWELL$344,375 $387,875 $471,250 $543,750
VIRGINIA BEACH-
NORFOLK-NEWPORT NEWS,
VA-METROPOLITANISLE OF WIGHT$412,500 $464,605 $564,474 $651,316
VIRGINIA BEACH-
NORFOLK-NEWPORT NEWS,
VA-METROPOLITANJAMES CITY$412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA)KING AND QUEEN$344,375 $387,875 $471,250 $543,750
NON-METROKING GEORGE$381,999 $448,442 $544,837 $628,658
RICHMOND, VA (MSA)KING WILLIAM$344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-
ALEXANDRIA, DC-VA-
METROPOLITANLOUDOUN$477,355 $611,117 $738,699 $888,158
RICHMOND, VA (MSA)LOUISA$344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-
ALEXANDRIA, DC-VA-
METROPOLITANMANASSAS$477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-
ALEXANDRIA, DC-VA-
METROPOLITANMANASSAS PARK$477,355 $611,117 $738,699 $888,158
VIRGINIA BEACH-
NORFOLK-NEWPORT NEWS,
VA-METROPOLITANMATHEWS$412,500 $464,605 $564,474 $651,316
CHARLOTTESVILLE, VA (MSA) NELSON$399,375 $449,822 $546,513 $630,592
RICHMOND, VA (MSA)NEW KENT$344,375 $387,875 $471,250 $543,750
VIRGINIA BEACH-
NORFOLK-NEWPORT NEWS,
VA-METROPOLITANNEWPORT NEWS$412,500 $464,605 $564,474 $651,316
VIRGINIA BEACH-
NORFOLK-NEWPORT NEWS,
VA-METROPOLITANNORFOLK$412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA)PETERSBURG$344,375 $387,875 $471,250 $543,750
VIRGINIA BEACH-
NORFOLK-NEWPORT NEWS,
VA-METROPOLITANPOQUOSON$412,500 $464,605 $564,474 $651,316
VIR
GINIA BEACH-
NOR
FOLK-NEWPORT NEWS,
VA-
METROPOLITAN
POR
TSMOUTH
$41
2,500
$46
4,605
$56
4,474
$65
1,316
RICHMOND, VA (MSA)POWHATAN$344,375 $387,875 $471,250 $543,750
RICHMOND, VA (MSA)PRINCE GEORGE$344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-
ALEXANDRIA, DC-VA-
METROPOLITANPRINCE WILLIAM$477,355 $611,117 $738,699 $888,158
RICHMOND, VA (MSA)RICHMOND IND$344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-
ALEXANDRIA, DC-VA-
METROPOLITANSPOTSYLVANIA$477,355 $611,117 $738,699 $888,158
March 26, 20078362007–13 I.R.B.

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
WASHINGTON-A
RLINGTON-
ALEXANDRIA, D
C-VA-
METROPOLITANSTAFFORD$477,355 $611,117 $738,699 $888,158
VIRGINIA BEACH-
NORFOLK-NEWPORT NEWS,
VA-METROPOLITANSUFFOLK$412,500 $464,605 $564,474 $651,316
VIRGINIA BEACH-
NORFOLK-NEWPORT NEWS,
VA-METROPOLITANSURRY$412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA)SUSSEX$344,375 $387,875 $471,250 $543,750
VIRGINIA BEACH-
NORFOLK-NEWPORT NEWS,
VA-METROPOLITANVIRGINIA BEACH$412,500 $464,605 $564,474 $651,316
WASHINGTON-ARLINGTON-
ALEXANDRIA, DC-VA-
METROPOLITANWARREN$477,355 $611,117 $738,699 $888,158
VIRGINIA BEACH-
NORFOLK-NEWPORT NEWS,
VA-METROPOLITANWILLIAMSBURG$412,500 $464,605 $564,474 $651,316
WINCHESTER, VA-WV (MSA)WINCHESTER$475,000 $535,000 $650,000 $750,000
VIRGINIA BEACH-
NORFOLK-NEWPORT NEWS,
VA-METROPOLITANYORK$412,500 $464,605 $564,474 $651,316
VINON-METROST. CROIX$287,500 $337,168 $407,558 $506,495
NON-METROST. THOMAS$318,750 $359,013 $436,184 $506,495
VT
BURLINGTON-SOUTH
BURLINGTON, VT (MSA)CHITTENDEN$318,750 $359,013 $436,184 $506,495
BURLIN
GTON-SOUTH
BURLI
NGTON, VT (MSA)
FRANK
LIN
$318,
750
$359,
013
$436,
184
$506,
495
BURLINGTON-SOUTH
BURLINGTON, VT (MSA)GRAND ISLE$318,750 $359,013 $436,184 $506,495
WAWENATCHEE, WA (MSA)CHELAN$281,250 $337,168 $407,558 $506,495
PORT
ANGELES, WA (MICRO)
CLAL
LAM
$296
,250
$337
,168
$407
,558
$506
,495
PORTLAND-VANCOUVER-
BEAVERTON, OR-WA (MSA)CLARK$374,474 $421,776 $512,437 $591,316
WENATCHEE, WA (MSA)DOUGLAS$281,250 $337,168 $407,558 $506,495
OAK HARBOR, WA (MICRO)ISLAND$366,842 $413,179 $502,039 $579,276
NON
-METRO
JEF
FERSON
$42
0,000
$47
3,053
$57
4,737
$66
3,158
SEATTLE-BELLEVUE-EVERETT,
WA METROPOLITANKING$477,355 $542,039 $658,553 $759,868
BRE
MERTON-SILVERDALE, WA
(M
SA)
KI
TSAP
$4
75,000
$5
35,000
$6
50,000
$7
50,000
TACOMA, WA METROPOLITAN
DIVISIONPIERCE$477,355 $542,039 $658,553 $759,868
NON-METROSAN JUAN$477,355 $598,355 $726,974 $838,816
MOUNT VERNON-ANACORTES,
WA (MSA)SKAGIT$373,662 $420,862 $511,328 $589,993
PORTLAND-VANCOUVER-
BEAVERTON, OR-WA (MSA)SKAMANIA$374,474 $421,776 $512,437 $591,316
2007–13 I.R.B.837March 26, 2007

STATEMSA NAMECOUNTY NAMESAFE HARBOR AVERAGE PRICE
1
LIVING
UNIT
2
LIVING
UNITS
3
LIVING
UNITS
4
LIVING
UNITS
SEATTLE-BELLEVUE-EVERETT,
WA METROPOLITANSNOHOMISH$477,355 $542,039 $658,553 $759,868
OLYMPIA, WA (MSA)THURSTON$344,505 $388,022 $471,429 $543,957
BELLINGHAM,
WA (MSA)
WHATCOM$375,000 $422,368 $513,158 $592,105
WIMADISON, WI (MSA)COLUMBIA$284,625 $337,168 $407,558 $506,495
MADISON, WI (MSA)DANE$284,625 $337,168 $407,558 $506,495
MADISON, WI (MSA)IOWA$284,625 $337,168 $407,558 $506,495
LAKE COUNTY-KENOSHA
COUNTY, IL-WI METROPOLITAN KENOSHA$362,105 $407,845 $495,512 $571,745
MILWAUKEE-WAUKESHA-
WEST ALLIS, WI (MSA)MILWAUKEE$287,375 $337,168 $407,558 $506,495
MILWAUKEE-WAUKESHA-
WEST ALLIS, WI (MSA)OZAUKEE$287,375 $337,168 $407,558 $506,495
MINNEAPOLIS-ST.
PAUL-BLOOMINGTON, MN-WI PIERCE$331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST.
PAUL-BLOOMINGTON, MN-WI ST. CROIX$331,250 $373,092 $453,289 $523,026
MILWAUKEE-WAUKESHA-
WEST ALLIS, WI (MSA)WASHINGTON$287,375 $337,168 $407,558 $506,495
MILWAUKEE-WAUKESHA-
WEST ALLIS, WI (MSA)WAUKESHA$287,375 $337,168 $407,558 $506,495
WV
HAGERSTOWN-MARTINSBURG,
MD-WV (MSA)BERKELEY$362,500 $408,289 $496,053 $572,368
WINCHE
STER, VA-WV (MSA)
HAMPSH
IRE
$475,0
00
$535,0
00
$650,0
00
$750,0
00
HAGERSTOWN-MARTINSBURG,
MD-WV (MSA)JEFFERSON$477,355 $611,117 $738,699 $888,158
HAGERS
TOWN-MARTINSBURG,
MD-WV (
MSA)
MORGAN$362,5
00
$408,2
89
$496,0
53
$572,3
68
WYJACKSON, WY-ID (MICRO)TETON$477,355 $611,117 $738,699 $918,021
ALL
OTHER
AREAS$263,368 $337,168 $407,558 $506,495
.02 The nationwideaverage purchase
price (for use in the housing cost/income
ratio for new and existing residences) is
$269,600.
SECTION 5. EFFECT ON OTHER
DOCUMENTS
Rev. Proc. 2006–17 is obsolete except
as provided in section 6 of this revenue
procedure.
SECTION 6. EFFECTIVE DATES
.01 Issuers may rely on this revenue
procedure to determine average area pur-
chase price safe harbors for commitments
to provide financing or issue mortgage
credit certificates that are made, or (if the
purchase precedes the commitment) for
residences that are purchased, in the period
that begins on March 8, 2007, and ends
on the date as of which the safe harbors
contained in section 4.01 of this revenue
procedure are rendered obsolete by a new
revenue procedure.
.02 Notwithstanding section 5 of this
revenue procedure, issuers may continue
to rely on the average area purchase price
safe harbors contained in Rev. Proc.
2006–17, with respect to bonds sold, or
for mortgage credit certificates issued with
respect to bond authority exchanged, be-
fore April 7, 2007, if the commitments to
provide financing or issue mortgage credit
certificates are made on or before May 7,
2007.
.03 Except as provided in section 6.04,
issuers must use the nationwide average
purchase price limitation contained in
this revenue procedure for commitments
to provide financing or issue mortgage
credit certificates that are made, or (if
the purchase precedes the commitment)
for residences that are purchased, in the
period that begins on March 8, 2007, and
March 26, 20078382007–13 I.R.B.

ends on the date when the nationwide av-
erage purchase price limitation is rendered
obsolete by a new revenue procedure.
.04 Notwithstanding sections 5 and
6.03 of this revenue procedure, issuers
may continue to rely on the nationwide
average purchase price set forth in Rev.
Proc. 2006–17 with respect to bonds sold,
or for mortgage credit certificates issued
with respect to bond authority exchanged,
before April 7, 2007, if the commitments
to provide financing or issue mortgage
credit certificates aremadeonorbefore
May 7, 2007.
SECTION 7. PAPERWORK
REDUCTION ACT
The collection of information con-
tained in this revenue procedure has been
reviewed and approved by the Office
of Management and Budget in accor-
dance with the Paperwork Reduction Act
(44 U.S.C. 3507) under control number
1545–1877.
An agency may not conduct or sponsor,
and a person is not required to respond
to, a collection of information unless the
collection of information displays a valid
OMB control number.
This revenue procedure contains a col-
lection of information requirement in sec-
tion 3.03. The purpose of the collection
of information is to verify the applica-
ble FHA loan limit that issuers of quali-
fied mortgage bonds and qualified mort-
gage certificates have used to calculate the
average area purchase price for a given
metropolitan statistical area for purposes
of section 143(e) and 25(c). The collec-
tion of information is required to obtain
the benefit of using revisions to FHA loan
limits to determine average area purchase
prices. The likely respondents are state
and local governments.
The estimated total annual reporting
and/or recordkeeping burden is: 15 hours.
The estimated annual burden per re-
spondent and/or recordkeeper: 15 minutes.
The estimated number of respondents
and/or recordkeepers: 60.
Books or records relating to a collection
of information must be retained as long
as their contents may become material in
the administration of any internal revenue
law. Generally tax returns and tax return
information are confidential, as required
by 26 U.S.C. 6103.
SECTION 8. DRAFTING
INFORMATION
The principal authors of this rev-
enue procedure are David E. White and
Timothy L. Jones of the Office of Di-
vision Counsel/Associate Chief Counsel
(Tax Exempt & Government Entities).
For further information regarding this rev-
enue procedure, contact David E. White at
(202) 622–3980 (not a toll-free call).
2007–13 I.R.B.839March 26, 2007

Part IV. Items of General Interest
Notice of Proposed
Rulemaking by
Cross-Reference to
Temporary Regulations
Corporate Reorganizations;
Additional Guidance on
Distributions Under Sections
368(a)(1)(D) and 354(b)(1)(B)
REG–157834–06
AGENCY: Internal Revenue Service
(IRS), Treasury.
ACTION: Notice of proposed rulemaking
by cross-reference to temporary regula-
tions.
SUMMARY: In this issue of the Bulletin,
the IRS is issuing temporary regulations
(T.D. 9313) that amend §1.368–2T(l),
which provides guidance regarding the
qualification of certain transactions as
reorganizations described in section
368(a)(1)(D) where no stock and/or se-
curities of the acquiring corporation are
issued and distributed in the transaction.
These regulations clarify that the rules in
§1.368–2T(l) are not intended to affect
the qualification of related party triangular
asset acquisitions as reorganizations de-
scribed in section 368. These regulations
affect corporations engaging in such trans-
actions and their shareholders. The text of
those regulations also serves as the text of
these proposed regulations.
DATES: Written or electronic comments
and requests for a public hearing must be
received by May 30, 2007.
ADDRESSES: Send submissions to:
CC:PA:LPD:PR(REG–157834–06),
Internal Revenue Service, PO Box
7604, Ben Franklin Station, Wash-
ington, DC 20044. Submissions may
be hand delivered to CC:PA:LPD:PR
(REG–157834–06), Courier Desk, Inter-
nal Revenue Service, 1111 Constitution
Avenue, NW, Washington, DC, or sent
electronically, via the IRS Internet site at
www.irs.gov/regsor via the Federal eRule-
making Portal atwww.regulations.gov
(IRS REG–157834–06).
FOR FURTHER INFORMATION
CONTACT: Concerning the proposed
regulations, Bruce A. Decker, (202)
622–7550; concerning submission of
comments, requests for a public hearing,
and/or a publication and regulations spe-
cialist, Kelly Banks, (202) 622–7180.
SUPPLEMENTARY INFORMATION:
Background
Temporary regulations in this issue
of the Bulletin amend 26 CFR part
1. The temporary regulations amend
§1.368–2T(l), which provides guidance
regarding the qualification of certain
transactions as reorganizations described
in section 368(a)(1)(D) where no stock
and/or securities ofthe acquiring corpo-
ration are issued and distributed in the
transaction. The text of those regulations
also serves as the text of these proposed
regulations. The preamble to the tempo-
rary regulations explains the amendments.
Explanation of Provisions
These regulations clarify that the rules
in §1.368–2T(l) are not intended to affect
the qualification of related party triangu-
lar asset acquisitions as reorganizations de-
scribedinsection368.
Special Analyses
It has been determined that this notice
of proposed rulemaking is not a signifi-
cant regulatory action as defined in Exec-
utive Order 12866. Therefore, a regula-
tory assessment is not required. It also has
been determined that section 553(b) of the
Administrative Procedure Act (5 U.S.C.
chapter 5) does not apply to these reg-
ulations, and because the regulations do
not impose a collection of information on
small entities, the Regulatory Flexibility
Act (5 U.S.C. chapter 6) does not apply.
Pursuant to section 7805(f) of the Inter-
nal Revenue Code, this notice of proposed
rulemaking will be submitted to the Chief
Counsel for Advocacy of the Small Busi-
ness Administration for comment on its
impact on small business.
Comments and Requests for a Public
Hearing
Before these proposed regulations are
adopted as final regulations, considera-
tion will be given to any written (a signed
original and eight (8) copies) or electronic
comments that are submitted timely to
the IRS. The IRS and Treasury Depart-
ment request comments on the clarity of
the proposed rules and how they can be
made easier to understand. All comments
will be available for public inspection and
copying. A public hearing will be sched-
uled if requested in writing by any person
that timely submits written comments. If a
public hearing is scheduled, notice of the
date, time, and place for the public hearing
will be published in theFederal Register.
Drafting Information
The principal author of these regula-
tions is Bruce A. Decker, Office of Asso-
ciate Chief Counsel (Corporate).
*****
Proposed Amendments to the
Regulations
Accordingly, 26 CFR part 1 is proposed
to be amended as follows:
PART 1—INCOME TAXES
Paragraph 1. The authority citation for
part 1 continues to read as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.368–2 is amended
by adding paragraph (l)(2)(iv) to read as
follows:
§1.368–2 Definition of terms.
*****
[The text of this proposed amendment
to §1.368–2(l)(2)(iv) is the same as the
text of §1.368–2T(l)(2)(iv) published else-
whereinthisissueoftheBulletin.
Kevin M. Brown,
Deputy Commissioner for
Services and Enforcement.
(Filed by the Office of the Federal Register on February 28,
2007, 8:45 a.m., and published in the issue of the Federal
Register for March 1, 2007, 72 F.R. 9284)
March 26, 20078402007–13 I.R.B.

Foundations Status of Certain
Organizations
Announcement 2007–33
The following organizations have failed
to establish or have been unable to main-
tain their status as public charities or as op-
erating foundations. Accordingly, grantors
and contributors may not, after this date,
rely on previous rulings or designations
in the Cumulative List of Organizations
(Publication 78), or on the presumption
arising from the filing of notices under sec-
tion 508(b) of the Code. This listing does
notindicate that the organizations have lost
their status as organizations described in
section 501(c)(3), eligible to receive de-
ductible contributions.
Former Public Charities.The follow-
ing organizations (which have been treated
as organizations thatare not private foun-
dations described in section 509(a) of the
Code) are now classified as private foun-
dations:
7 Cord Ministries, Waco, TX
Abundant Life Family Services, Inc.,
Los Angeles, CA
Acting Out Foundation, Beachwood, OH
Ada A. Grant, Inc., Chicago, IL
Adelante Now Foundation,
Albuquerque, NM
Agape Mission and Community Service
Group, Inc., Birmingham, AL
Alta-Pasa Debutante Association,
Fontana, CA
Amateur Division of the International Log
Rolling Association, Onalaska, WI
American Academy of Continuing
Medical Education, Inc., Skillman, NJ
Animal Lovers for Infinity, Inc.,
Boston, MA
Anishinabe Miikana Project, Inc.,
Red Lake, MN
AssociationofIuMien,SanJose,CA
Better World Services, Inc.,
Centreville, VA
B.G.B.B. Foundation, Inc. (bridging Gaps
and Breaking Barriers), Nashville, TN
Bible Mission, La Quinta, CA
Biobehavioral Institute of Boston, Inc.,
Boston, MA
Black Hills Coalition of Standing Rock
Enrollees, Rapid City, SD
Burningbush Pastoral Care Services, Inc.,
Plano, TX
Center for Community Stabilization,
Rogers, AR
Changing Directions, Far Hills, NJ
Chesapeake Institutes for Behavioral
Research, Glenn Allen, VA
Chuckie Goodnight Foundation, Inc.,
Brewster, KY
Civil War Landscapes Association,
Chicago, IL
Claudine Carew Scholarship Fund,
Williamsburg, VA
Community Education Network, Inc.,
Bethesda, MD
Computers for Kids, Inc.,
Bloomington, MN
Concerned Black Men of Cape Cod &
The Islands, Inc., Provincetown, MA
Cooper Foundation, Elm City, NC
Counseling Ministries International, Inc.,
Ada, OK
Cross Atlantic Foundation, Inc.,
Lynbrook, NY
Dedicated Helper, Inglewood, CA
Divine Destiny, Inc., Chesapeake, VA
Dry Branch Community Life Center, Inc.,
Dry Branch, GA
Dunbar Township Science Center,
Leisenring, PA
Education Sports Plus Foundation, Inc.,
Newton, NJ
Educational Opportunities, Inc.,
Chicago, IL
Family and Youth Achievement Center,
Durham, NC
FATA Foundation, Coral Springs, FL
For This Cause, Oceano, CA
Fort Wayne Music Fest, Inc.,
Fort Wayne, IN
Foundation in Memory of Suel,
Walnut, CA
Friends of Rain Forests in Myannar,
Aberdeen, MD
Front Forty Productions, Inc., Verona, WI
Full Gospel Ministries, Ltd.,
Joshua Tree, CA
Genesis Protected Animal Refuge, Inc.,
Pikesville, MD
Georgia Motorcyclists Association, Inc.,
Atlanta, GA
Gloary, Inc., Delray Beach, FL
Global Information Freedom, Inc.,
Cary, NC
Global Vision Alliance, Orinda, CA
Good Shepherd International Miracle
Center, Inc., Virginia Beach, VA
Greater Hope Community Development,
Houston, TX
Greater Rome Chamber of Commerce
Foundation, Rome, GA
Helen E. Popa Masters in Nursing Loan
Fund, Austintown, OH
Hellenic American Education Foundation,
Inc., Bayside, NY
Holographic Ecology, Inc.,
Santa Barbara, CA
IGBO Union of St. Louis, Inc.,
St. Louis, MO
Incredible Dreams Childcare and Learning
Center, Incorporated, Chicago, IL
Indo-American Social Service Partners,
Brooklyn, NY
Inspiration Community Service Center,
Solon, OH
Institute of Modern Test Theory,
Chicago, IL
Intercare Housing, Inc., Indianapolis, IN
Interfaith Partnership for Advocacy
Reconciliation, Winston-Salem, NC
International Terrorism Awareness
Coalition, Highstown, NJ
Joe Stephens Foundation, Houston, TX
Kidron Brook Ministries, Inc.,
Kernersville, NC
Kollel Ari Yerucham, New York, NY
Lakeland Cardinals Booster Club,
Fox Lake, IL
Latino Cultural Center of Napa Valley,
Napa, CA
LincolnParkYouthinTouch,
Incorporated, Hampton, VA
Mahoning Valley Renaissance Institute,
Mineral Ridge, OH
Manjui Foundation, Inc., Baltimore, MD
Masjidullah Economic Community
Corporation of America (M.E.C.C.A.),
Philadelphia, PA
Mending Hoop Ranch & Reserve,
Peebles, OH
Mental Health Alliance, Inc.,
Louisville, KY
Minor League Players Institute,
Chicago, IL
Mirabal Sister Culture and Community
Center, Inc., New York, NY
Montana Wildlife Recovery, Inc.,
Bozeman, MT
MuseoEduardoCarillo,SantaCruz,CA
Natomas Education Foundation,
Sacramento, CA
NBBJ Training Academy, Inc.,
Columbus, OH
Nerih, Inc., Aliquippa, PA
Night Hawk Foundation, Greenville, MS
Nursing Assistance Home Care Serv, Inc.,
Randallstown, MD
2007–13 I.R.B.841March 26, 2007

Passport for Godly Ling, Inc.,
Sante Fe, TX
Piscataway Township Education
Foundation, Piscataway, NJ
Pizza Family Ministries, Deltona, FL
Pneuma Ministries Community
Development, Inc., Meridianville, AL
Polish American Leadership Initiative,
Chicago, IL
Positive Strokes, Inc., Norman, OK
Quest Ministries International,
Hervey, LA
Restore Hope, Inc., Bronson, MI
Ronald J. Weiss Memorial Foundation,
Lagrangeville, NY
Self-Sufficient Families, Los Angeles, CA
Share the Love Center, Simi Valley, CA
Solutions Benefiting Life Institute, Ltd.,
Sudbury, MA
Sound Touches, Jefferson, GA
Southern California Indian Health
Coalition, Inc., Banning, CA
Talamm, Inc., Silver Spring, MD
Thomasville Boxing Association,
Thomasville, GA
Tower Educational Consulting Group,
Inc., Elyria, OH
Triune Project, Inc., Newport Beach, CA
Turning Point for Women and Children,
Goldsboro, NC
Underwater Learning Institute, Ltd.,
Baltimore, MD
US Chamber Foundation for Legal
Reform, Washington, DC
Victory Community Development, Inc.,
Bessemer, AL
Willoughby Hills Lions Club Scholarship
Fund, Willoughby Hills, OH
Wolf Point Development Corporation,
Wolf Point, MT
Women of Vision, Redondo Beach, CA
If an organization listed above submits
information that warrants the renewal of
its classification as a public charity or as
a private operating foundation, the Inter-
nal Revenue Service will issue a ruling or
determination letter with the revised clas-
sification as to foundation status. Grantors
and contributors may thereafter rely upon
such ruling or determination letter as pro-
vided in section 1.509(a)–7 of the Income
Tax Regulations. It is not the practice of
the Service to announce such revised clas-
sification of foundation status in the Inter-
nal Revenue Bulletin.
Deletions From Cumulative
List of Organizations
Contributions to Which
are Deductible Under Section
170 of the Code
Announcement 2007–34
The names of organizations that no
longer qualify as organizations described
in section 170(c)(2) of the Internal Rev-
enue Code of 1986 are listed below.
Generally, the Service will not disallow
deductions for contributions made to a
listed organization on or before the date
of announcement in the Internal Revenue
Bulletin that an organization no longer
qualifies. However, the Service is not
precluded from disallowing a deduction
for any contributions made after an or-
ganization ceases to qualify under section
170(c)(2) if the organization has not timely
filed a suit for declaratory judgment under
section 7428 and if the contributor (1) had
knowledge of the revocation of the ruling
or determination letter, (2) was aware that
such revocation was imminent, or (3) was
in part responsible for or was aware of the
activities or omissions of the organization
that brought about this revocation.
If on the other hand a suit for declara-
tory judgment has been timely filed, con-
tributions from individuals and organiza-
tions described in section 170(c)(2) that
are otherwise allowable will continue to
be deductible. Protection under section
7428(c) would begin on March 26, 2007,
and would end on the date the court first
determines that the organization is not de-
scribed in section 170(c)(2) as more partic-
ularly set forth in section 7428(c)(1). For
individual contributors, the maximum de-
duction protected is $1,000, with a hus-
band and wife treated as one contributor.
This benefit is not extended to any indi-
vidual, in whole or in part, for the acts or
omissions of the organization that were the
basis for revocation.
American Education
Foundation International
San Francisco, CA
Ladder 12 Firefighters Fund, Inc.
New York, NY
March 26, 20078422007–13 I.R.B.

Definition of Terms
Revenue rulings and revenue procedures
(hereinafter referred to as “rulings”) that
have an effect on previous rulings use the
following defined terms to describe the ef-
fect:
Amplifieddescribes a situation where
no change is being made in a prior pub-
lished position, but the prior position is be-
ingextendedtoapplytoavariationofthe
fact situation set forth therein. Thus, if
an earlier ruling held that a principle ap-
plied to A, and the new ruling holds that the
same principle also applies to B, the earlier
ruling is amplified. (Compare withmodi-
fied,below).
Clarifiedis used in those instances
where the language in a prior ruling is be-
ing made clear because the language has
caused, or may cause, some confusion.
It is not used where a position in a prior
ruling is being changed.
Distinguisheddescribes a situation
where a ruling mentions a previously pub-
lished ruling and points out an essential
difference between them.
Modifiedis used where the substance
of a previously published position is being
changed. Thus, if a prior ruling held that a
principle applied to A but not to B, and the
new ruling holds that it applies to both A
and B, the prior ruling is modified because
it corrects a published position. (Compare
withamplifiedandclarified, above).
Obsoleteddescribes a previously pub-
lished ruling that is not considered deter-
minative with respect to future transac-
tions. This term is most commonly used in
a ruling that lists previously published rul-
ings that are obsoleted because of changes
in laws or regulations. A ruling may also
be obsoleted because the substance has
been included in regulations subsequently
adopted.
Revokeddescribes situations where the
position in the previously published ruling
is not correct and the correct position is
beingstatedinanewruling.
Supersededdescribes a situation where
the new ruling does nothing more than re-
state the substance and situation of a previ-
ously published ruling (or rulings). Thus,
the term is used to republish under the
1986 Code and regulations the same po-
sition published under the 1939 Code and
regulations. The term is also used when
it is desired to republish in a single rul-
ing a series of situations, names, etc., that
were previously published over a period of
time in separate rulings. If the new rul-
ing does more than restate the substance
of a prior ruling, a combination of terms
is used. For example,modifiedandsu-
persededdescribes a situation where the
substance of a previously published ruling
is being changed in part and is continued
without change in part and it is desired to
restate the valid portion of the previously
published ruling in a new ruling that is self
contained. In this case, the previously pub-
lished ruling is first modified and then, as
modified, is superseded.
Supplementedis used in situations in
which a list, such as a list of the names of
countries, is published in a ruling and that
list is expanded by adding further names in
subsequent rulings. After the original rul-
ing has been supplemented several times, a
new ruling may be published that includes
the list in the original ruling and the ad-
ditions, and supersedes all prior rulings in
the series.
Suspendedis used in rare situations
to show that the previous published rul-
ings will not be applied pending some
future action such as the issuance of new
or amended regulations, the outcome of
cases in litigation, or the outcome of a
Service study.
Abbreviations
The fol
lowing abbreviations in current use
and for
merly used will appear in material
publis
hedintheBulletin.
A—Individual.
Acq.—A
cquiescence.
B—Individual.
BE—Beneficiary.
BK—Bank
.
B.T.A.—Board of Tax Appeals.
C—Individual.
C.B.—Cu
mulative Bulletin.
CFR—Code of Federal Regulations.
CI—City.
COOP—Coo
perative.
Ct.D.—Court Decision.
CY—County.
D—Decede
nt.
DC—Dummy Corporation.
DE—Donee.
Del. Order
—Delegation Order.
DISC—Domestic International Sales Corporation.
DR—Donor.
E—Estate.
EE—Employee.
E.O.—Executive Order.
ER—Emp
loyer.
ERISA—Employee Retirement Income Security Act.
EX—Executor.
F—Fiduc
iary.
FC—Foreign Country.
FICA—Federal Insurance Contributions Act.
FISC—Fo
reign International Sales Company.
FPH—Foreign Personal Holding Company.
F.R.—Federal Register.
FUTA—Fed
eral Unemployment Tax Act.
FX—Foreign corporation.
G.C.M.—Chief Counsel’s Memorandum.
GE—Grante
e.
GP—General Partner.
GR—Grantor.
IC—Insura
nce Company.
I.R.B.—Internal Revenue Bulletin.
LE—Lessee.
LP—Limited
Partner.
LR—Lessor.
M—Minor.
Nonacq.—No
nacquiescence.
O—Organization.
P—Parent Corporation.
PHC—Persona
l Holding Company.
PO—Possession of the U.S.
PR—Partner.
PRS—Pa
rtnership.
PTE—Prohibited Transaction Exemption.
Pub. L.—Public Law.
REIT—Re
al Estate Investment Trust.
Rev. Proc.—Revenue Procedure.
Rev. Rul.—Revenue Ruling.
S—Subsi
diary.
S.P.R.—Statement of Procedural Rules.
Stat.—Statutes at Large.
T—Target
Corporation.
T.C.—Tax Court.
T.D.—Treasury Decision.
TFE—Trans
feree.
TFR—Transferor.
T.I.R.—Technical Information Release.
TP—Taxpay
er.
TR—Trust.
TT—Trustee.
U.S.C.—Uni
ted States Code.
X—Corporation.
Y—Corporation.
Z—Corporat
ion.
2007–13 I.R.B.iMarch 26, 2007

Numerical Finding List
1
Bulletins 2007–1 through 2007–13
Announcements:
2007-1, 2007-1 I.R.B.243
2007-2, 2007-2 I.R.B.263
2007-3, 2007-4 I.R.B.376
2007-4, 2007-7 I.R.B.518
2007-5, 2007-4 I.R.B.376
2007-6, 2007-4 I.R.B.376
2007-7, 2007-4 I.R.B.377
2007-8, 2007-5 I.R.B.416
2007-9, 2007-5 I.R.B.417
2007-10, 2007-6 I.R.B.464
2007-11, 2007-6 I.R.B.464
2007-12, 2007-6 I.R.B.465
2007-13, 2007-7 I.R.B.519
2007-14, 2007-7 I.R.B.519
2007-15, 2007-8 I.R.B.596
2007-16, 2007-8 I.R.B.597
2007-17, 2007-8 I.R.B.597
2007-18, 2007-9 I.R.B.625
2007-19, 2007-7 I.R.B.521
2007-20, 2007-8 I.R.B.599
2007-21, 2007-9 I.R.B.630
2007-22, 2007-9 I.R.B.631
2007-23, 2007-10 I.R.B.665
2007-24, 2007-10 I.R.B.681
2007-25, 2007-10 I.R.B.682
2007-26, 2007-10 I.R.B.682
2007-27, 2007-11 I.R.B.733
2007-28, 2007-10 I.R.B.683
2007-29, 2007-11 I.R.B.733
2007-30, 2007-11 I.R.B.734
2007-31, 2007-12 I.R.B.769
2007-32, 2007-11 I.R.B.734
2007-33, 2007-13 I.R.B.841
2007-34, 2007-13 I.R.B.842
Notices:
2007-1, 2007-2 I.R.B.254
2007-2, 2007-2 I.R.B.254
2007-3, 2007-2 I.R.B.255
2007-4, 2007-2 I.R.B.260
2007-5, 2007-3 I.R.B.269
2007-6, 2007-3 I.R.B.272
2007-7, 2007-5 I.R.B.395
2007-8, 2007-3 I.R.B.276
2007-9, 2007-5 I.R.B.401
2007-10, 2007-4 I.R.B.354
2007-11, 2007-5 I.R.B.405
2007-12, 2007-5 I.R.B.409
2007-13, 2007-5 I.R.B.410
2007-14, 2007-7 I.R.B.501
2007-15, 2007-7 I.R.B.503
Notices— Continued:
2007-16, 2007-8 I.R.B.536
2007-17, 2007-12 I.R.B.748
2007-18, 2007-9 I.R.B.608
2007-19, 2007-11 I.R.B.689
2007-20, 2007-9 I.R.B.610
2007-21, 2007-9 I.R.B.611
2007-22, 2007-10 I.R.B.670
2007-23, 2007-11 I.R.B.690
2007-24, 2007-12 I.R.B.750
2007-25, 2007-12 I.R.B.760
2007-27, 2007-13 I.R.B.814
Proposed Regulations:
REG-100841-97, 2007-12 I.R.B.763
REG-157711-02, 2007-8 I.R.B.537
REG-159444-04, 2007-9 I.R.B.618
REG-115403-05, 2007-12 I.R.B.767
REG-152043-05, 2007-2 I.R.B.263
REG-161919-05, 2007-6 I.R.B.463
REG-125632-06, 2007-5 I.R.B.415
REG-147144-06, 2007-10 I.R.B.680
REG-157834-06, 2007-13 I.R.B.840
Revenue Procedures:
2007-1, 2007-1 I.R.B.1
2007-2, 2007-1 I.R.B.88
2007-3, 2007-1 I.R.B.108
2007-4, 2007-1 I.R.B.118
2007-5, 2007-1 I.R.B.161
2007-6, 2007-1 I.R.B.189
2007-7, 2007-1 I.R.B.227
2007-8, 2007-1 I.R.B.230
2007-9, 2007-3 I.R.B.278
2007-10, 2007-3 I.R.B.289
2007-11, 2007-2 I.R.B.261
2007-12, 2007-4 I.R.B.354
2007-13, 2007-3 I.R.B.295
2007-14, 2007-4 I.R.B.357
2007-15, 2007-3 I.R.B.300
2007-16, 2007-4 I.R.B.358
2007-17, 2007-4 I.R.B.368
2007-18, 2007-5 I.R.B.413
2007-19, 2007-7 I.R.B.515
2007-20, 2007-7 I.R.B.517
2007-21, 2007-9 I.R.B.613
2007-22, 2007-10 I.R.B.675
2007-23, 2007-10 I.R.B.675
2007-24, 2007-11 I.R.B.692
2007-25, 2007-12 I.R.B.761
2007-26, 2007-13 I.R.B.814
Revenue Rulings:
2007-1, 2007-3 I.R.B.265
2007-2, 2007-3 I.R.B.266
2007-3, 2007-4 I.R.B.350
Revenue Rulings— Continued:
2007-4, 2007-4 I.R.B.351
2007-5, 2007-5 I.R.B.378
2007-6, 2007-5 I.R.B.393
2007-7, 2007-7 I.R.B.468
2007-8, 2007-7 I.R.B.469
2007-9, 2007-6 I.R.B.422
2007-10, 2007-10 I.R.B.660
2007-11, 2007-9 I.R.B.606
2007-12, 2007-11 I.R.B.685
2007-13, 2007-11 I.R.B.684
2007-14, 2007-12 I.R.B.747
2007-15, 2007-11 I.R.B.687
2007-16, 2007-13 I.R.B.807
2007-17, 2007-13 I.R.B.805
2007-18, 2007-13 I.R.B.806
Tax Conventions:
2007-23, 2007-10 I.R.B.665
Treasury Decisions:
9298, 2007-6 I.R.B.434
9299, 2007-6 I.R.B.460
9300, 2007-2 I.R.B.246
9301, 2007-2 I.R.B.244
9302, 2007-5 I.R.B.382
9303, 2007-5 I.R.B.379
9304, 2007-6 I.R.B.423
9305, 2007-7 I.R.B.479
9306, 2007-6 I.R.B.420
9307, 2007-7 I.R.B.470
9308, 2007-8 I.R.B.523
9309, 2007-7 I.R.B.497
9310, 2007-9 I.R.B.601
9311, 2007-10 I.R.B.635
9312, 2007-12 I.R.B.736
9313, 2007-13 I.R.B.805
1
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2006–27 through 2006–52 is in Internal Revenue Bulletin
2006–52, dated December 26, 2006.
March 26, 2007ii2007–13 I.R.B.

Finding List of Current Actions on
Previously Published Items
1
Bulletins 2007–1 through 2007–13
Notices:
2002-45
Modified by
Notice 2007-22, 2007-10 I.R.B.670
2005-29
Modified and superseded by
Notice 2007-4, 2007-2 I.R.B.260
2005-86
Modified by
Notice 2007-22, 2007-10 I.R.B.670
2006-2
Modified and superseded by
Notice 2007-4, 2007-2 I.R.B.260
2006-50
Amplified, clarified, and modified by
Notice 2007-11, 2007-5 I.R.B.405
2006-87
Modified and supplemented by
Notice 2007-25, 2007-12 I.R.B.760
Proposed Regulations:
REG-208270-86
Corrected by
Ann. 2007-4, 2007-7 I.R.B.518
REG-121509-00
Corrected by
Ann. 2007-17, 2007-8 I.R.B.597
REG-141901-05
Corrected by
Ann. 2007-7, 2007-4 I.R.B.377
REG-142270-05
Corrected by
Ann. 2007-2, 2007-2 I.R.B.263
REG-125632-06
Corrected by
Ann. 2007-26, 2007-10 I.R.B.682
REG-127819-06
Corrected by
Ann. 2007-5, 2007-4 I.R.B.376
REG-136806-06
Corrected by
Ann. 2007-6, 2007-4 I.R.B.376
Hearing cancelled by
Ann. 2007-19, 2007-7 I.R.B.521
Revenue Procedures:
98-20
Superseded by
Rev. Proc. 2007-12, 2007-4 I.R.B.354
2000-38
Modified by
Rev. Proc. 2007-16, 2007-4 I.R.B.358
2000-50
Modified by
Rev. Proc. 2007-16, 2007-4 I.R.B.358
2001-42
Modified and amplified by
Rev. Proc. 2007-19, 2007-7 I.R.B.515
2002-9
Modified and amplified by
Rev. Proc. 2007-14, 2007-4 I.R.B.357
Modified by
Rev. Proc. 2007-16, 2007-4 I.R.B.358
2004-11
Superseded by
Rev. Proc. 2007-16, 2007-4 I.R.B.358
2004-65
Modified and superseded by
Rev. Proc. 2007-20, 2007-7 I.R.B.517
2005-12
Superseded by
Rev. Proc. 2007-17, 2007-4 I.R.B.368
2005-51
Amplified by
Rev. Proc. 2007-25, 2007-12 I.R.B.761
2005-69
Superseded by
Rev. Proc. 2007-15, 2007-3 I.R.B.300
2005-74
Superseded by
Rev. Proc. 2007-24, 2007-11 I.R.B.692
2006-1
Superseded by
Rev. Proc. 2007-1, 2007-1 I.R.B.1
2006-2
Superseded by
Rev. Proc. 2007-2, 2007-1 I.R.B.88
2006-3
Superseded by
Rev. Proc. 2007-3, 2007-1 I.R.B.108
2006-4
Superseded by
Rev. Proc. 2007-4, 2007-1 I.R.B.118
Revenue Procedures— Continued:
2006-5
Superseded by
Rev. Proc. 2007-5, 2007-1 I.R.B.161
2006-6
Superseded by
Rev. Proc. 2007-6, 2007-1 I.R.B.189
2006-7
Superseded by
Rev. Proc. 2007-7, 2007-1 I.R.B.227
2006-8
Superseded by
Rev. Proc. 2007-8, 2007-1 I.R.B.230
2006-17
Obsoleted in part by
Rev. Proc. 2007-26, 2007-13 I.R.B.814
2006-35
Modified by
Rev. Proc. 2007-22, 2007-10 I.R.B.675
Revenue Rulings:
54-19
Obsoleted in part by
Rev. Rul. 2007-14, 2007-12 I.R.B.747
55-132
Obsoleted by
Rev. Rul. 2007-14, 2007-12 I.R.B.747
56-462
Obsoleted by
Rev. Rul. 2007-14, 2007-12 I.R.B.747
56-518
Obsoleted by
Rev. Rul. 2007-14, 2007-12 I.R.B.747
57-505
Obsoleted by
Rev. Rul. 2007-14, 2007-12 I.R.B.747
58-370
Obsoleted by
Rev. Rul. 2007-14, 2007-12 I.R.B.747
58-500
Obsoleted by
Rev. Rul. 2007-14, 2007-12 I.R.B.747
69-141
Modified by
Notice 2007-22, 2007-10 I.R.B.670
69-212
Obsoleted by
Rev. Rul. 2007-14, 2007-12 I.R.B.747
69-587
Revoked by
Rev. Rul. 2007-12, 2007-11 I.R.B.685
1
A cumulative list of current actions on previously published items in Internal Revenue Bulletins 2006–27 through 2006–52 is in Internal Revenue Bulletin 2006–52, dated December 26,
2006.
2007–13 I.R.B.iiiMarch 26, 2007

Revenue Rulings— Continued:
71-477
Obsoleted by
Rev. Rul. 2007-14, 2007-12 I.R.B.747
75-161
Obsoleted by
Rev. Rul. 2007-8, 2007-7 I.R.B.469
76-188
Obsoleted by
Rev. Rul. 2007-8, 2007-7 I.R.B.469
78-330
Modified by
Rev. Rul. 2007-8, 2007-7 I.R.B.469
81-225
Clarified and amplified by
Rev. Rul. 2007-7, 2007-7 I.R.B.468
92-19
Supplemented in part by
Rev. Rul. 2007-10, 2007-10 I.R.B.660
96-51
Amplified by
Rev. Rul. 2007-12, 2007-11 I.R.B.685
2002-41
Modified by
Notice 2007-22, 2007-10 I.R.B.670
2003-43
Modified by
Notice 2007-2, 2007-2 I.R.B.254
2003-92
Clarified and amplified by
Rev. Rul. 2007-7, 2007-7 I.R.B.468
2003-102
Modified by
Notice 2007-22, 2007-10 I.R.B.670
2005-24
Modified by
Notice 2007-22, 2007-10 I.R.B.670
2005-76
Supplemented and superseded by
Rev. Rul. 2007-4, 2007-4 I.R.B.351
2006-36
Modified by
Notice 2007-22, 2007-10 I.R.B.670
Treasury Decisions:
9263
Corrected by
Ann. 2007-22, 2007-9 I.R.B.631
9276
Corrected by
Ann. 2007-20, 2007-8 I.R.B.599
Ann. 2007-21, 2007-9 I.R.B.630
Treasury Decisions— Continued:
9278
Corrected by
Ann. 2007-9, 2007-5 I.R.B.417
Ann. 2007-10, 2007-6 I.R.B.464
9286
Corrected by
Ann. 2007-8, 2007-5 I.R.B.416
9298
Corrected by
Ann. 2007-32, 2007-11 I.R.B.734
9303
Corrected by
Ann. 2007-25, 2007-10 I.R.B.682
March 26, 2007iv2007–13 I.R.B.

INDEX
Internal Revenue Bulletins 2007–1 through
2007–13
The abbreviation and number in parenthesis following the index entry
refer to the specific item; numbers in roman and italic type following
the parenthesis refers to the Internal Revenue Bulletin in which the item
may be found and the page number on which it appears.
Key to Abbreviations:
AnnAnnouncement
CDCourt Decision
DODelegation Order
EOExecutive Order
PLPublic Law
PTEProhibited Transaction Exemption
RPRevenue Procedure
RRRevenue Ruling
SPRStatement of Procedural Rules
TCTax Convention
TDTreasury Decision
TDOTreasury Department Order
EMPLOYEE PLANS
Corporations, prohibited allocations of securities in an S corpo-
ration (TD 9302) 5,382
Definition of party and allocation of net income or proceeds for
purposes of section 4965 (Notice 18) 9,608
Determination letters, issuing procedures (RP 6) 1,189
Full funding limitations, weighted average interest rate for:
January 2007 (Notice 12) 5,409
February 2007 (Notice 20) 9,610
March 2007 (Notice 27) 13,814
Health Insurance Portability and Accountability Act of 1996
(HIPAA):
Health plan nondiscrimination requirements:
For certain grandfathered church plans (TD 9299) 6,460
For group health plans (TD 9298) 6,434; correction (Ann
32) 11,734
Letter rulings:
And determination letters, areas which will not be issued
from:
Associates Chief Counsel and Division Counsel (TE/GE)
(RP 3) 1,108
Associate Chief Counsel (International) (RP 7) 1,227
And general information letters, procedures (RP 4) 1,118
User fees, request for letter rulings (RP 8) 1,230
Mortality tables for determining current liability, updated (TD
9310) 9,601
Qualified retirement plans:
Defined benefit pension plans:
Cash balance and other hybrid plans (Notice 6) 3,272
Permitted benefits (Notice 14) 7,501
Distribution issues, multiple issues (Notice 7) 5,395
Pension plans, in-service distributions (Notice 8) 3,276
Remedial amendment period (Notice 3) 2,255
EMPLOYEE PLANS—Cont.
Regulations:
26 CFR 1.402(c)–2, revised; 1.409(p)–1, added; prohibited
allocations of securities in an S corporation (TD 9302) 5,
382
26 CFR 1.412(l)(7)–1, added;updated mortality tables for
determining current liability (TD 9310) 9,601
26 CFR 54.9801–1, –2, amended; 54.9802–2, added;
54.9831–1, amended; exception to the HIPAA nondiscrim-
ination requirements for certain grandfathered church plans
(TD 9299) 6,460
26 CFR 54.9802–1, revised; 54.9802–1T, removed; nondis-
crimination and wellness programs in health coverage in
the group market (TD 9298) 6,434; correction (Ann 32)
11,734
Technical advice to IRS employees (RP 5) 1,161
EMPLOYMENT TAX
Installment agreements, payment of tax liabilities
(REG–100841–97) 12,763
Letter rulings and information letters issued by Associate Of-
fices, determination letters issued by Operating Divisions (RP
1) 1,1
Penalties, disclosure on reports filed with Securities and Ex-
change Commission (SEC) (RP 25) 12,761
Proposed Regulations:
26 CFR 301.6159–0, added; 301.6159–1, revised;
301.6331–4, revised; agreements for payment of tax
liabilities in installments (REG–100841–97) 12,763
Regulations:
26 CFR 31.3402(g)–1(a)(8), revised; flat rate supplemental
wage withholding, correction to TD 9276 (Ann 20) 8,599;
additional correction (Ann 21) 9,630
Supplemental wages, withholding, correction to TD 9276 (Ann
20) 8,599; additional correction (Ann 21) 9,630
Technical Advice Memoranda (TAMs) (RP 2) 1,88
ESTATE TAX
Installment agreements, payment of tax liabilities
(REG–100841–97) 12,763
Letter rulings and information letters issued by Associate Of-
fices, determination letters issued by Operating Divisions (RP
1) 1,1
Proposed Regulations:
26 CFR 301.6159–0, added; 301.6159–1, revised;
301.6331–4, revised; agreements for payment of tax
liabilities in installments (REG–100841–97) 12,763
Technical Advice Memoranda (TAMs) (RP 2) 1,88
EXCISE TAX
Communications excise tax (Notice 11) 5,405
2007–13 I.R.B.vMarch 26, 2007

EXCISE TAX—Cont.
Health Insurance Portability and Accountability Act of 1996
(HIPAA):
Health plan nondiscrimination requirements:
For certain grandfathered church plans (TD 9299) 6,460
For group health plans (TD 9298) 6,434; correction (Ann
32) 11,734
Installment agreements, payment of tax liabilities
(REG–100841–97) 12,763
Letter rulings and information letters issued by Associate Of-
fices, determination letters issued by Operating Divisions (RP
1) 1,1
Penalties, disclosure on reports filed with Securities and Ex-
change Commission (SEC) (RP 25) 12,761
Proposed Regulations:
26 CFR 301.6159–0, added; 301.6159–1, revised;
301.6331–4, revised; agreements for payment of tax
liabilities in installments (REG–100841–97) 12,763
Regulations:
26 CFR 54.9801–1, –2, amended; 54.9802–2, added;
54.9831–1, amended; exception to the HIPAA nondiscrim-
ination requirements for certain grandfathered church plans
(TD 9299) 6,460
26 CFR 54.9802–1, revised; 54.9802–1T, removed; nondis-
crimination and wellness programs in health coverage in
the group market (TD 9298) 6,434; correction (Ann 32)
11,734
Technical Advice Memoranda (TAMs) (RP 2) 1,88
EXEMPT ORGANIZATIONS
Annual notice to donors regarding pending and settled declara-
tory judgment suits (Ann 1) 1,243
Definition of party and allocation of net income or proceeds for
purposes of section 4965 (Notice 18) 9,608
Letter rulings:
And determination letters, areas which will not be issued from
Associates Chief Counsel and Division Counsel (TE/GE)
(RP 3) 1,108
And general information letters, procedures (RP 4) 1,118
User fees, request for letter rulings (RP 8) 1,230
List of organizations classifiedas private foundations (Ann 14)
7,519;(Ann33)13,841
Revocations (Ann 3) 4,376; (Ann 13) 7,519;(Ann34)13,842
Technical advice to IRS employees (RP 5) 1,161
GIFT TAX
Installment agreements, payment of tax liabilities
(REG–100841–97) 12,763
Letter rulings and information letters issued by Associate Of-
fices, determination letters issued by Operating Divisions (RP
1) 1,1
GIFT TAX—Cont.
Proposed Regulations:
26 CFR 301.6159–0, added; 301.6159–1, revised;
301.6331–4, revised; agreements for payment of tax
liabilities in installments (REG–100841–97) 12,763
Technical Advice Memoranda (TAMs) (RP 2) 1,88
INCOME TAX
Accounting methods:
Automatic consent to change accounting method for execu-
tory contract liabilities (RP 14) 4,357
Changes in accounting methods (RP 16) 4,358
Changes in computing depreciation (TD 9307) 7,470
Executory contract liabilities (RR 3) 4,350
Payroll taxes on deferred compensation (RR 12) 11,685
Advance Pricing Agreement (APA) Program, annual report to the
public, 2006 (Ann 31) 12,769
Annual notice to donors regarding pending and settled declara-
tory judgment suits (Ann 1) 1,243
Annuities, exchanges of property for an annuity contract, change
in hearing location for REG–141901–05 (Ann 7) 4,377
Archer Medical Savings Accounts(MSAs), reporting obligation
for accounts established between January 1, 2005, and June
30, 2005, and January 1, 2006, and June 30, 2006 (Ann 24)
10,681
Charitable contributions, study on donor advised funds and sup-
porting organizations (Notice 21) 9,611
Communications excise tax (Notice 11) 5,405
Compliance resolution program for employees other than cor-
porate insiders for additional2006 taxes arising under section
409A due to exercise of stock rights (Ann 18) 9,625
Consumer Price Index (CPI) adjustments, certain loans under
section 1274A for 2007 (RR 4) 4,351
Contractual protection filter under regulations section 1.6011–4,
exceptions (RP 20) 7,517
Controlled services transactions under section 482, treatment,
allocation of income and deductions from intangibles, and
stewardship expense, correction to TD 9278 (Ann 9) 5,
417; additional corrections (Ann 10) 6,464; correction to
REG–146893–02 (Ann 11) 6,464
Corporations:
Bulgarian per se entity (Notice 10) 4,354
Consolidated returns, unified rule for loss on subsidiary stock
(REG–157711–02) 8,537
Controlled foreign corporation (CFC):
Subpart F income (Notice 9) 5,401
Substantial assistance, shipping income (Notice 13) 5,410
Corporate reorganizations:
Additional guidance on distributions under sections
368(a)(1)(D) and 354(b)(1)(B) (TD 9313) 13,805;
(REG–157834–06) 13,840
Distributions under sections 368(a)(1)(D) and
354(b)(1)(B) (TD 9303) 5,379; correction (Ann 25) 10,
682; (REG–125632–06) 5,415; correction (Ann 26)
10,682
March 26, 2007vi2007–13 I.R.B.

INCOME TAX—Cont.
Liabilities in excess of basis, transfers to controlled corpo-
rations (RR 8) 7,469
Exclusion from gross income ofpreviously taxed earnings
and profits and related basis adjustments, correction to
REG–121509–00 (Ann 17) 8,597
Foreign corporation interest expense allocations, branch prof-
its tax, election for liability reduction (Notice 1) 2,254
Look-through treatment of dividends from noncontrolled sec-
tion 902 corporation, correction to TD 9260 (Ann 12) 6,465
Transfers by U.S. persons of stock or securities to foreign cor-
porations (TD 9311) 10,635; (REG–147144–06) 10,680
Credits:
Low-income housing credit:
2007 population figures used for calculation (Notice 23)
11,690
Satisfactory bond, “bond factor” amounts for the period:
January through March 2007 (RR 5) 5,378
Railroad track maintenance credit, hearing cancellation for
REG–142270–05 (Ann 2) 2,263;correctiontoTD9286
(Ann 8) 5,416
Cross licensing arrangements, guidance on tax treatment (RP 23)
10,675
Disaster relief, reduction in taxable income for housing Hur-
ricane Katrina displacedindividuals (TD 9301) 2,244;
(REG–152043–05) 2,263
Disclosure of reportable transactions by:
List maintenance rules under section 6112 for material advi-
sors, hearing scheduled for REG–103043–05 (Ann 27) 11,
733
Material advisors under section 6111, hearing scheduled for
REG–103039–05 (Ann 30) 11,734
Taxpayers under section 6011, hearing scheduled for
REG–103038–05 (Ann 29) 11,733
Domestic production activities, income attributable, correction
to TD 9263 (Ann 22) 9,631
Electronic filing:
Electronic payment option for user fee charges for Form 8802
(RP 22) 10,675
Elimination of regulatory impediments to filing certain busi-
ness income tax returns and other forms (TD 9300) 2,246
Guidance necessary to facilitate business electronic filing un-
der section 1561 (TD 9304) 6,423; (REG–161919–05) 6,
463
Employer-provided vehicles, cents-per-mile valuation rule, max-
imum vehicle values (RP 11) 2,261
Estimated tax penalty, waiver for citizens or residents of the U.S.
living abroad (Notice 16) 8,536
Extensions:
Extension of time taxpayers have until April 17, 2007, to file
2006 returns and pay any taxes due, Emancipation Day Hol-
iday in the District of Columbia (Ann 16) 8,597
Extension of deadline for settlement offered to certain foreign
embassy staff (Ann 28) 10,683
Federal tax lien, procedures for obtaining release or discharge
(REG–159444–04) 9,618
INCOME TAX—Cont.
Film and television production, deduction for qualified costs (TD
9312) 12,736; (REG–115403–05) 12,767
Forms:
1096, 1098, 1099, 5498, W-2G, and 1042-S, substitute form
specifications (RP 15) 3,300
8802, electronic payment option for user fee charges (RP 22)
10,675
8851, Summary of Archer MSAs, specifications for filing
electronically (Ann 15) 8,596
8921, Transactions Involving a Pool of Applicable Insurance
Contracts, comments requested on draft form (Notice 24)
12,750
8922, Applicable Insurance Contract Information Return (For
Tax-Exempt Organizations and Government Entities under
Section 6050V), comments requested on draft form (Notice
24) 12,750
Health Reimbursement Arrangements (HRAs), debit cards (No-
tice 2) 2,254
Health Savings Accounts (HSAs), rollovers to (Notice 22) 10,
670
Housing cost amount eligible for exclusion or deduction, revised
(Notice 25) 12,760
Income and currency gain or loss with respect to a section 987
qualified business unit (QBU), correction to REG–208270–86
(Ann 4) 7,518
Information reporting:
Requirements, exclusion of the sale or exchange of a principle
residence (RP 12) 4,354
Under section 6050V, comments requested on draft Forms
8921, Transactions Involving a Pool of Applicable Insur-
ance Contracts, and Form 8922, Applicable Insurance Con-
tract Information Return (For Tax-Exempt Organizations
and Government Entities under Section 6050V) (Notice 24)
12,750
Installment agreements:
Payment of tax liabilities (REG–100841–97) 12,763
User fees (TD 9306) 6,420
Insurance companies:
Comments requested on closing agreements for life insurance
and annuity contracts (Notice 15) 7,503
Indices and electronic submission of information, Rev. Proc.
2001–42 updated (RP 19) 7,515
Investor control and general public (RR 7) 7,468
Loss payment patterns and discount factors for the 2006 acci-
dent year (RP 9) 3,278
Prevailing state assumed interest rate tables, 2007 (RR 10) 10,
660
Salvage discount factors for the 2006 accident year (RP 10)
3,289
Interest:
Investment:
Federal short-term, mid-term, and long-term rates for:
January 2007 (RR 2) 3,266
February 2007 (RR 9) 6,422
March 2007 (RR 15) 11,687
2007–13 I.R.B.viiMarch 26, 2007

INCOME TAX—Cont.
Rates:
Underpayments and overpayments, quarter beginning,
April 1, 2007 (RR 16) 13,807
Inventory:
LIFO, price indexes used by department stores for:
November 2006 (RR 6) 5,393
December 2006 (RR 11) 9,606
January 2007 (RR 18) 13,806
Leases, tax-exempt use property (Notice 4) 2,260
Letter rulings:
And determination letters, areas which will not be issued
from:
Associates Chief Counsel and Division Counsel (TE/GE)
(RP 3) 1,108
Associate Chief Counsel (International) (RP 7) 1,227
And information letters issued by Associate Offices, determi-
nation letters issued by Operating Divisions (RP 1) 1,1
Life insurance, transfer of value and grantor trusts (RR 13) 11,
684
Nonsufficient funds (NSF) fees, accounting for credit card NSF
fees that are not interest (RR 1) 3,265
Penalties:
Disclosure on reports filed with Securities and Exchange
Commission(SEC)(RP25)12,761
Under sections 6707 or 6707A, rescission (RP 21) 9,613
Pre-Filing Agreement (PFA) program, continued (RP 17) 4,368
Private foundations, organizations now classified as (Ann 14) 7,
519; (Ann 33) 13,841
Proposed Regulations:
26 CFR 1.45G–0, –1, added; railroad track maintenance
credit, hearing cancellation for REG–142270–05 (Ann 2)
2,263
26 CFR 1.181–0 thru –6, added; deduction for qualified film
and television production costs (REG–115403–05) 12,767
26 CFR 1.337(d)–1, –2, removed; 1.358–6, amended;
1.1502–13, –19, –21, –30 thru –33, –35, –80, –91,
amended; 1.1502–20, –35T, removed; 1.1502–36, added;
unified rule for loss on subsidiary stock (REG–157711–02)
8,537
26 CFR 1.367(a)–3, amended; 1.367(a)–8, revised; certain
transfers of stock or securities by U.S. persons to foreign
corporations (REG–147144–06) 10,680
26 CFR 1.368–2, amended; corporate reorganizations, dis-
tributions under sections 368(a)(1)(D) and 354(b)(1)(B)
(REG–125632–06) 5,415; correction (Ann 26) 10,682;
additional guidance (REG–157834–06) 13,840
26 CFR 1.482–1, –8, –9, amended; 1.861–8, amended; allo-
cation of income and deductions from intangibles, steward-
ship expense, correction to REG–146893–02 (Ann 11) 6,
464
26 CFR 1.959–1, –2, –3, revised; 1.961–2, –3, revised; ex-
clusion from gross income of previously taxed earnings
and profits and adjustments to basis of stock in controlled
foreign corporations and of other property, correction to
REG–121509–00 (Ann 17) 8,597
INCOME TAX—Cont.
26 CFR 1.987–1 thru –3, –6, amended; income and currency
gain or loss with respect to a section 987 QBU, correction
to REG–208270–86 (Ann 4) 7,518
26 CFR 1.1502–43, –47, amended; 1.1561–1, –3, added;
1.1561–2, amended; 1.1563–1, added; guidance necessary
to facilitate business electronic filing under section 1561
(REG–161919–05) 6,463
26 CFR 1.9300–1, added; reduction in taxable income
for housing Hurricane Katrina displaced individuals
(REG–152043–05) 2,263
26 CFR 301.6159–0, added; 301.6159–1, revised;
301.6331–4, revised; agreements for payment of tax
liabilities in installments (REG–100841–97) 12,763
26 CFR 301.6325–1, amended; 301.6503(f)–1, revised;
301.7426–1, revised; release of lien or discharge of prop-
erty (REG–159444–04) 9,618
Publications:
1167, General Rules and Specifications for Substitute Forms
and Schedules (RP 24) 11,692
Qualified amended returns (TD 9309) 7,497
Qualified mortgage bonds (QMBs) and mortgage credit certifi-
cates (MCCs), average area housing purchase prices for 2007
(RP 26) 13,814
Qualified Zone Academy Bonds, allocations for years 2006 and
2007 (RP 18) 5,413
Real estate mortgage investment conduit (REMIC), modifica-
tions of commercial loans held by a REMIC (Notice 17) 12,
748
Regulations:
26 CFR 1.45G–0T, –1T, added; railroad track maintenance
credit; correction to TD 9286 (Ann 8) 5,416
26 CFR 1.108–1, removed and reserved; 1.342–1, removed;
1.371–1, –2, removed; 1.372–1, removed; 1.374–1 thru
–4, removed; 1.924(a)–1T, amended; 1.1018–1, removed;
1.1502–43, –47, –47T, –90, amended; 1.1502–43T, added;
1.1561–0, –1, –3, removed; 1.1561–1T, –2T, –3T, added;
1.1561–2, amended; 1.1562–0 thru –7, removed; 1.1563–1,
removed; 1.1563–1T, –3, amended; 1.1564–1, removed;
5.1561–1, removed; guidance necessary to facilitate busi-
ness electronic filing under section 1561 (TD 9304) 6,423
26 CFR 1.167(e)–1, amended; 1.167(e)–1T, removed;
1.168(i)–4, –6T, amended; 1.446–1, amended; 1.446–1T,
removed; 1.1016–3, amended; 1.1016–3T, removed;
changes in computing depreciation (TD 9307) 7,470
26 CFR 1.170A–11, amended; 1.170A–11T, removed;
1.556–2, amended; 1.556–2T, removed; 1.565–1,
amended; 1.565–1T, removed; 1.936–7, amended;
1.936–7T, removed; 1.1017–1, amended; 1.1017–1T,
removed; 1.1368–1, amended; 1.1368–1T, removed;
1.1377–1, amended; 1.1377–1T, removed; 1.1502–21,
amended; 1.1502–21T, amended; 1.1502–75, amended;
1.1502–75T, removed; 1.1503–2, amended; 1.1503–2T,
removed; 1.6038B–1, amended; 1.6038B–1T, amended;
301.7701–3, amended; 301.7701–3T, removed; 602.101,
amended; guidance necessary to facilitate business elec-
tronic filing (TD 9300) 2,246
March 26, 2007viii2007–13 I.R.B.

INCOME TAX—Cont.
26 CFR 1.181–0T thru –6T, added; 602.101, amended; deduc-
tion for qualified film and television production costs (TD
9312) 12,736
26 CFR 1.199–1 thru –4, –6 thru –9, amended; income attrib-
utable to domestic production activities, correction to TD
9263 (Ann 22) 9,631
26 CFR 1.367(a)–3, –8, amended; 1.367(a)–3T, –8T, added;
602.101, amended; certain transfers of stock or securities
by U.S. persons to foreign corporations (TD 9311) 10,635
26 CFR 1.368–2, amended; 1.368–2T, added; corporate reor-
ganizations, distributions under sections 368(a)(1)(D) and
354(b)(1)(B) (TD 9303) 5,379; correction (Ann 25) 10,682
26 CFR 1.368–2T, amended; corporate reorganizations,
additional guidance on distributions under sections
368(a)(1)(D) and 354(b)(1)(B) (TD 9313) 13,805
26 CFR 1.482; 1.861; 1.6038; 1.6038A; 1.6662; treatment of
services under section 482, allocation of income and deduc-
tions from intangibles, stewardship expense, correction to
TD 9278 (Ann 9) 5,417; additional corrections (Ann 10) 6,
464
26 CFR 1.671–5, amended; 1.671–5T, removed; reporting
rules for widely held fixed investment trusts (TD 9308) 8,
523
26 CFR 1.863–3, amended; 1.863–8, –9, added; 602.101,
amended; source of income from certain space and ocean
activities, source of communications income (TD 9305) 7,
479
26 CFR 1.902–1, –1T, –2, amended; 1.904–0, –4, –5,
amended; 1.904(f)–12T, amended; 1.964–1, –1T, amended;
application of separate limitations to dividends from non-
controlled section 902 corporations, correction to TD 9260
(Ann 12) 6,465
26 CFR 1.6664–0, –1, amended; 1.6664–1T, –2T, removed;
1.6664–2(c), revised; qualified amended returns (TD 9309)
7,497
26 CFR 1.9300–1T, added; reduction in taxable income for
housing Hurricane Katrina displaced individuals (TD 9301)
2,244
26 CFR 300.0, amended; 300.1, amended; 300.2, amended;
user fees for processing installment agreements (TD 9306)
6,420
Reporting rules for widely held fixed investment trusts
(WHFITs) (TD 9308) 8,523
Revocations, exempt organizations (Ann 3) 4,376; (Ann 13) 7,
519; (Ann 34) 13,842
Rulings, obsolete (RR 14) 12,747
Services cost method:
And other issues under section 482 temporary regulations,
partial modification of effective date and clarification (No-
tice 5) 3,269
Under section 482 regulations, specified covered services el-
igible (RP 13) 3,295
Space and ocean activities, source of income, source of commu-
nications income (TD 9305) 7,479
Standard Industry Fare Level (SIFL) formula (RR 17) 13,805
INCOME TAX—Cont.
Statute of limitations on assessment for bona fide residents of the
U.S. Virgin Islands (Notice 19) 11,689
Substitute forms:
1096, 1098, 1099, 5498, W-2G, and 1042-S, rules and speci-
fications (RP 15) 3,300
And schedules, general rules and specifications (RP 24) 11,
692
Tax conventions, reciprocal exemption agreement, Bailiwick of
Jersey (Ann 23) 10,665
Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA)
amendments to section 199, change in hearing location for
REG–127819–06 (Ann 5) 4,376
Technical Advice Memoranda (TAMs) (RP 2) 1,88
Treatment of payments in lieu of taxes under section 141, change
in hearing location for REG–136806–06 (Ann 6) 4,376; can-
cellation of hearing on REG–136806–06 (Ann 19) 7,521
User fees:
Electronic payment option for user fee charges for Form 8802
(RP 22) 10,675
Installment agreements (TD 9306) 6,420
Waiver of estimated tax penalty for citizens or residents of the
U.S. living abroad (Notice 16) 8,536
SELF-EMPLOYMENT TAX
Letter rulings and information letters issued by Associate Of-
fices, determination letters issued by Operating Divisions (RP
1) 1,1
Technical Advice Memoranda (TAMs) (RP 2) 1,88
2007–13 I.R.B.ixMarch 26, 2007

March 26, 20072007–13 I.R.B.

2007–13 I.R.B.March 26, 2007

March 26, 20072007–13 I.R.B.

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