This notice provides guidance to practitioners, employers, firms, and other entities that may be subject to monetary penalties under 31 U.S.C. section 330. The notice also invites comments from the public regarding rules and standards relating to monetary penalties under 31 U.S.C. section 330.

This document contains a correction to temporary regulations (T.D. 9313, 2007-13 I.R.B. 805) providing guidance regarding the qualification of certain transactions as reorganizations described in section 368(a)(1)(D) of the Code, where no stock and/or securities of the acquiring corporation are issued and distributed in the transaction.