• Senate Finance Committee Press Release — Baucus, Grassley Pursue Latest Lists of Tax Avoidance Tactics:

Sen. Max Baucus, chairman of the Committee on Finance, and Sen. Chuck Grassley, ranking Republican member, have asked the IRS for an updated list of the newest, biggest tax avoidance scams – including those using nonprofit groups – that deserve the committee’s attention.

• Rev. Proc. 2007-26 — Updates Average Area Purchase Prices for U.S. Residences for Nationwide Metropolitan Statistical Areas:

This revenue procedure provides issuers of qualified mortgage bonds, as defined in § 143(a), and issuers of mortgage credit certificates, as defined in § 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.

• IR-2007-53 — Direct Deposit Refunds Top $100 Billion; Now They Can Be Deposited In Up To Three Accounts:

Direct-deposit refunds soared over the $100 billion mark last week as a growing number of taxpayers are choosing the speed and convenience of direct deposit, rather than receiving a paper check,

• IR-2007-52 — Free File Available for Requesting Telephone Tax Refund:

Free File makes it easy for people who do not normally file tax returns to request the telephone excise tax refund.