Interest rates; underpayments and overpayments. The rate of interest determined under section 6621 of the Code for the calendar quarter beginning July 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.

Proposed regulations provide guidance on employer comparable contributions to Health Savings Accounts (HSAs) under section 4980G of the Code in instances where an employee has not established an HSA by December 31st and in instances where an employer accelerates contributions for the calendar year for employees who have incurred qualified medical expenses. A public hearing is scheduled for September 27, 2007.

This notice updates the procedures for the allocation of credits after 2006 under the qualifying advanced coal project program of section 48A of the Code, and defines certain terms for purposes of section 48A. Notice 2006-24 clarified, modified, amplified, and superseded.

This notice updates the procedures for the allocation of credits after 2006 under the qualifying gasification project program of section 48B of the Code, and defines certain terms for purposes of section 48B. Notice 2006-25 clarified, modified, amplified, and superseded.

This procedure specifies the requirements for participating as an Authorized IRS e-file Provider and is the official set of rules that govern participation in IRS e-file. The procedure revises Rev. Proc. 2005-60, 2005-2 C.B. 449, by providing for denial of application or revocation of an Authorized IRS e-file Provider’s participation in IRS e-file if it has been enjoined from filing returns by a federal or state court injunction or other legal action that would prevent its participation in the program. Rev. Proc. 2005-60 superseded.

This procedure designates the securities and commodities that are eligible positions for purposes of the safe harbor valuation regulations. It also illustrates the application of the safe harbor to taxpayers who are both dealers and traders.