INCOME TAX

Notice 2016–34 Notice 2016–34

The notice publishes the calendar year 2016 inflation adjustment factors and reference prices for the renewable electricity production credit, the refined coal credit and the Indian coal credit under section 45.

EMPLOYEE PLANS

Notice 2016–33 Notice 2016–33

This notice sets forth updates on the corporate bond monthly yield curve, the corresponding spot segment rates for May 2016 used under § 417(e)(3)(D), the 24-month average segment rates applicable for May 2016, and the 30-year Treasury rates. These rates reflect the application of § 430(h)(2)(C)(iv), which was added by the Moving Ahead for Progress in the 21st Century Act, Public Law 112–141 (MAP–21) and amended by section 2003 of the Highway and Transportation Funding Act of 2014 (HATFA).

EXEMPT ORGANIZATIONS

Rev. Proc. 2016–32 Rev. Proc. 2016–32

Revenue Procedure 2016–32 modifies Revenue Procedure 2016–8 by reducing the user fee listed in in Rev. Proc. 2016–8 for Form 1023–EZ, Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, from $400 to $275.

ADMINISTRATIVE

Rev. Proc. 2016–26 Rev. Proc. 2016–26

The revenue procedure provides guidance with respect to median gross income figures used by issuers of qualified mortgage bonds as defined in section 143(a) and issuers of mortgage credit certificates as defined in section 25(c).

Rev. Proc. 2016–32 Rev. Proc. 2016–32

Revenue Procedure 2016–32 modifies Revenue Procedure 2016–8 by reducing the user fee listed in in Rev. Proc. 2016–8 for Form 1023–EZ, Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, from $400 to $275.