irb 1998-43 10/21/98 4:34 pm page 1 internal revenue ...rev. proc. 98–54, page 7. rescission of...

INCOME TAXRev. Rul. 98–51, page 4.LIFO; price indexes; department stores. The August1998 Bureau of Labor Statistics price indexes are acceptedfor use by department stores employing the retail inventoryand last-in, first-out inventory methods for valuing inventoriesfor tax years ended on, or with reference to, August 31,1998.

EXEMPT ORGANIZATIONSAnnouncement 98–94, page 32.A list is given of organizations now classified as private foun-dations.

TAX CONVENTIONSPage 6.The bilateral agreement between the United States and theUnited Arab Emirates, providing for the reciprocal tax ex-

emption of income from the international operation ofships/aircraft, is set forth.

ADMINISTRATIVERev. Proc. 98–54, page 7.Rescission of deficiency notice. Taxpayers are providedwith instructions for entering into an agreement with the Ser-vice to rescind a notice of deficiency. Rev. Proc. 88–17 clar-ified, modified, and superseded.

Announcement 98–93, page 10.Public comments are requested on proposed new Form8865, Information Return of U.S. Persons With Respect toCertain Foreign Partnerships, and its accompanying instruc-tions.

Internal Revenue

bbuulllleettiinnBulletin No. 1998–43

October 26, 1998

HIGHLIGHTSOF THIS ISSUEThese synopses are intended only as aids to the reader inidentifying the subject matter covered. They may not berelied upon as authoritative interpretations.

Department of the TreasuryInternal Revenue Service

Finding Lists begin on page 37.Announcement of Disbarments and Suspensions begins on page 33.

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Mission of the Service

The purpose of the Internal Revenue Service is to collectthe proper amount of tax revenue at the least cost; servethe public by continually improving the quality of our prod-

ucts and services; and perform in a manner warrantingthe highest degree of public confidence in our integrity, effi-ciency, and fairness.

2

Statement of Principlesof Internal RevenueTax AdministrationThe function of the Internal Revenue Service is to adminis-ter the Internal Revenue Code. Tax policy for raising revenueis determined by Congress.

With this in mind, it is the duty of the Service to carry out thatpolicy by correctly applying the laws enacted by Congress;to determine the reasonable meaning of various Code provi-sions in light of the Congressional purpose in enacting them;and to perform this work in a fair and impartial manner, withneither a government nor a taxpayer point of view.

At the heart of administration is interpretation of the Code. Itis the responsibility of each person in the Service, chargedwith the duty of interpreting the law, to try to find the truemeaning of the statutory provision and not to adopt astrained construction in the belief that he or she is “protect-ing the revenue.” The revenue is properly protected onlywhen we ascertain and apply the true meaning of the statute.

The Service also has the responsibility of applying andadministering the law in a reasonable, practical manner.Issues should only be raised by examining officers whenthey have merit, never arbitrarily or for trading purposes.At the same time, the examining officer should never hesi-tate to raise a meritorious issue. It is also important thatcare be exercised not to raise an issue or to ask a court toadopt a position inconsistent with an established Serviceposition.

Administration should be both reasonable and vigorous. Itshould be conducted with as little delay as possible andwith great courtesy and considerateness. It should nevertry to overreach, and should be reasonable within thebounds of law and sound administration. It should, howev-er, be vigorous in requiring compliance with law and itshould be relentless in its attack on unreal tax devices andfraud.

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The Internal Revenue Bulletin is the authoritative instrumentof the Commissioner of Internal Revenue for announcing offi-cial rulings and procedures of the Internal Revenue Serviceand for publishing Treasury Decisions, Executive Orders, TaxConventions, legislation, court decisions, and other items ofgeneral interest. It is published weekly and may be obtainedfrom the Superintendent of Documents on a subscriptionbasis. Bulletin contents of a permanent nature are consoli-dated semiannually into Cumulative Bulletins, which are soldon 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 applicationof the tax laws, including all rulings that supersede, revoke,modify, or amend any of those previously published in theBulletin. All published rulings apply retroactively unless other-wise indicated. Procedures relating solely to matters of in-ternal management are not published; however, statementsof internal practices and procedures that affect the rightsand duties of taxpayers are published.

Revenue rulings represent the conclusions of the Service onthe application of the law to the pivotal facts stated in therevenue ruling. In those based on positions taken in rulingsto taxpayers or technical advice to Service field offices,identifying details and information of a confidential natureare deleted to prevent unwarranted invasions of privacy andto comply with statutory requirements.

Rulings and procedures reported in the Bulletin do not havethe force and effect of Treasury Department Regulations,but they may be used as precedents. Unpublished rulingswill not be relied on, used, or cited as precedents by Servicepersonnel in the disposition of other cases. In applying pub-lished rulings and procedures, the effect of subsequent leg-islation, regulations, court decisions, rulings, and proce-

dures must be considered, and Service personnel and oth-ers concerned are cautioned against reaching the same con-clusions in other cases unless the facts and circumstancesare substantially the same.

The Bulletin is divided into four parts as follows:

Part I.—1986 Code.This part includes rulings and decisions based on provisionsof the Internal Revenue Code of 1986.

Part II.—Treaties and Tax Legislation.This part is divided into two subparts as follows: Subpart A,Tax Conventions, and Subpart B, Legislation and RelatedCommittee Reports.

Part III.—Administrative, Procedural, and Miscellaneous.To the extent practicable, pertinent cross references tothese subjects are contained in the other Parts and Sub-parts. Also included in this part are Bank Secrecy Act Admin-istrative Rulings. Bank Secrecy Act Administrative Rulingsare issued by the Department of the Treasury’s Office of theAssistant Secretary (Enforcement).

Part IV.—Items of General Interest.With the exception of the Notice of Proposed Rulemakingand the disbarment and suspension list included in this part,none of these announcements are consolidated in the Cumu-lative Bulletins.

The first Bulletin for each month includes a cumulative indexfor the matters published during the preceding months.These monthly indexes are cumulated on a semiannual basisand are published in the first Bulletin of the succeeding semi-annual period, respectively.

3

Introduction

The contents 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.

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Section 472.—Last-in, First-outInventories

26 CFR 1.472–1: Last-in, first-out inventories.

LIFO; price indexes; departmentstores.The August 1998 Bureau of LaborStatistics price indexes are accepted foruse by department stores employing theretail inventory and last-in, first-out in-ventory methods for valuing inventoriesfor tax years ended on, or with referenceto, August 31, 1998.

Rev. Rul. 98–51The following Department Store Inven-

tory Price Indexes for August 1998 wereissued by the Bureau of Labor Statistics.The indexes are accepted by the InternalRevenue Service, under § 1.472–1(k) ofthe Income Tax Regulations and Rev.Proc. 86–46, 1986–2 C.B. 739, for appro-priate application to inventories of depart-ment stores employing the retail inventoryand last-in, first-out inventory methodsfor tax years ended on, or with referenceto, August 31, 1998.

The Department Store Inventory PriceIndexes are prepared on a national basisand include (a) 23 major groups of depart-ments, (b) three special combinations ofthe major groups - soft goods, durablegoods, and miscellaneous goods, and (c) astore total, which covers all departments,including some not listed separately, ex-cept for the following: candy, food,liquor, tobacco, and contract departments.

October 26, 1998 4 1998–43 I.R.B.

Part I. Rulings and Decisions Under the Internal Revenue Code of 1986

BUREAU OF LABOR STATISTICS, DEPARTMENT STORE INVENTORY PRICE INDEXES BY DEPARTMENT GROUPS

(January 1941 = 100, unless otherwise noted)

Percent ChangeAug. Aug. from Aug. 1997

Groups 1997 1998 to Aug. 19981

1. Piece Goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 509.3 555.1 9.02. Domestics and Draperies . . . . . . . . . . . . . . . . . . . . . . . 652.8 630.9 –3.43. Women’s and Children’s Shoes . . . . . . . . . . . . . . . . . . 644.1 656.2 1.94. Men’s Shoes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 895.6 910.5 1.75. Infants’ Wear . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 621.2 616.2 –0.86. Women’s Underwear . . . . . . . . . . . . . . . . . . . . . . . . . . 548.8 579.1 5.5 7. Women’s Hosiery . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 301.6 306.5 1.68. Women’s and Girls’Accessories . . . . . . . . . . . . . . . . . 539.7 548.8 1.79. Women’s Outerwear and Girls’ Wear . . . . . . . . . . . . . 397.4 399.0 0.4

10. Men’s Clothing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 621.2 621.0 0.011. Men’s Furnishings . . . . . . . . . . . . . . . . . . . . . . . . . . . . 584.8 594.0 1.612. Boys’ Clothing and Furnishings . . . . . . . . . . . . . . . . . 492.2 498.8 1.313. Jewelry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1008.6 981.9 –2.614. Notions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 793.8 767.8 –3.315. Toilet Articles and Drugs . . . . . . . . . . . . . . . . . . . . . . . 904.7 940.7 4.016. Furniture and Bedding . . . . . . . . . . . . . . . . . . . . . . . . . 661.0 679.6 2.817. Floor Coverings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 598.8 601.8 0.518. Housewares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 806.1 809.9 0.519. Major Appliances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 242.8 238.0 –2.020. Radio and Television . . . . . . . . . . . . . . . . . . . . . . . . . . 75.4 71.4 –5.321. Recreation and Education2 . . . . . . . . . . . . . . . . . . . . . 110.1 103.5 –6.022. Home Improvements2 . . . . . . . . . . . . . . . . . . . . . . . . . 132.3 131.1 –0.923. Auto Accessories2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108.4 107.3 –1.0

Groups 1 – 15: Soft Goods . . . . . . . . . . . . . . . . . . . . . . . . 594.5 598.7 0.7

Groups 16 – 20: Durable Goods . . . . . . . . . . . . . . . . . . . . 463.1 460.2 –0.6

Groups 21 – 23: Misc. Goods2 . . . . . . . . . . . . . . . . . . . . . 112.6 107.8 –4.3

Store Total3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 549.3 548.4 –0.2

1Absence of a minus sign before percentage change in this column signifies price increase.2Indexes on a January 1986=100 base.3The store total index covers all departments, including some not listed separately, except for the following: candy, food, liquor, to-bacco, and contract departments.

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DRAFTING INFORMATION

The principal author of this revenueruling is Stan Michaels of the Office ofAssistant Chief Counsel (Income Tax andAccounting). For further information re-garding this revenue ruling, contact Mr.Michaels on (202) 622-4970 (not a toll-free call).

Section 6212.—Notice ofDeficiency

26 CFR 301.6212–1. Notice of deficiency.

For instructions on how to enter into an agree-ment with the Service to rescind a notice of defi-ciency, see Rev. Proc. 98–54, page 7.

1998–43 I.R.B. 5 October 26, 1998

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Subpart A.—Tax Conventions

UNITED ARAB EMIRATES

UNITED ARAB EMIRATESMINISTRY OF

FOREIGN AFFAIRSABU DHABI

DECEMBER 1, 1997

The Government of the United ArabEmirates agrees to exempt from tax grossincome derived from the international op-eration of ships or aircraft by individualswho are residents of the United States(other than citizens of the United ArabEmirates) and corporations which are in-corporated in the United States, this ex-emption is granted on the basis of equiva-lent exemptions granted by the UnitedStates to individual residents of theUnited Arab Emirates and to corporationsorganized in the United Arab Emirates.

For the purposes of exemption from theU.S. tax, the government of the UnitedArab Emirates will be treated as an indi-vidual resident of the United Arab Emi-rates.

In this agreement:(A) The terms “contracting state” and

“other contracting state” mean the UnitedArab Emirates or the United States ofAmerica, the Governments of which haveconcluded this agreement.

(B) Gross income includes all incomederived from the international operationof ships or aircraft, including:

(1) Income from the rental on full(time or voyage) basis of ships or aircraftused in international transport.

(2) Income from the rental on a bare-boat basis of ships or aircraft used in in-ternational transport.

(3) Income from the rental of con-tainers and related equipment used in in-ternational transport that is incidental toincome from the international operationof ships and aircraft, and

(4) Gains from the sale or otheralienation of ships or aircraft used in in-ternational transport derived by a personprimarily engaged in the international op-eration of ships or aircraft.

The Government of the United Arab

Emirates proposes that, if the foregoing isacceptable to the Government of theUnited States, this note and the State De-partment’s note in reply shall constitutean Agreement. The Agreement shall haveeffect with respect to taxable years begin-ning on or after January 1, 1994.

This Agreement shall continue in forceuntil the Government of either contractingstate gives written notice of terminationof the Agreement to the other ContractingState through Diplomatic Channels.

The Embassy of the United States ofAmerica presents its compliments to theMinistry of Foreign Affairs of the UnitedArab Emirates and has the honor to referto the Ministry’s Note No. 3/1/73/8742dated October 7, 1997, covering a draftnote from the Ministry of Finance and In-dustry, which reads as follows:

BEGIN TEXT

The Government of the United ArabEmirates agrees to exempt from tax grossincome derived from the international op-eration of ships or aircraft by individualswho are residents of the United States(other than citizens of the United ArabEmirates) and corporations which are in-corporated in the United States. This ex-emption is granted on the basis of equiva-lent exemptions granted by the UnitedStates to individual residents of theUnited Arab Emirates and to corporationsorganized in the United Arab Emirates.

For the purposes of exemption from theU.S. tax, the Government of the UnitedArab Emirates will be treated as an indi-vidual resident of the United Arab Emi-rates.

In this agreement:(A) The terms “contracting state” and

“other contracting state” mean the UnitedArab Emirates or the United States ofAmerica, the governments of which haveconcluded this agreement.

(B) Gross income includes all incomederived from the international operationof ships or aircraft, including:

(1) Income from the rental on full(time or voyage) basis of ships or aircraftused in international transport.

(2) Income from the rental on a bare-boat basis of ships or aircraft used in in-ternational transport.

(3) Income from the rental of con-tainers and related equipment used in in-ternational transport that is incidental toincome from the international operationof ships and aircraft, and

(4) Gains from the sale or otheralienation of ships or aircraft used in in-ternational transport derived by a personprimarily engaged in the international op-eration of ships or aircraft.

The Government of the United ArabEmirates proposes that, if the foregoing isacceptable to the Government of theUnited States, this note and the State De-partment’s note in reply shall constitutean agreement. The agreement shall haveeffect with respect to taxable years begin-ning on or after January 1, 1994.

This agreement shall continue in forceuntil the government of either contractingstate gives written notice of terminationof the agreement to the other contractingstate through diplomatic channels.

END TEXT

The Embassy, on behalf of the Govern-ment of the United States of America,confirms its acceptance of the terms of theMinistry’s note with the understandingthat in the case of a United Arab Emiratescorporation, the exemption from U.S. taxshall apply only if the corporation meetsthe ownership or public trading require-ments of U.S. law. Therefore, the Min-istry’s note and this note in reply consti-tute an agreement which shall enter intoforce on December 1, 1997, and shallhave effect with respect to taxable yearsbeginning on or after January 1, 1994.

This agreement shall continue in forceuntil the government of either contractingstate gives written notice of terminationof the agreement to the other contractingparty through diplomatic channels.

The Embassy of the United States ofAmerica avails itself of this opportunity torenew to the Ministry of Foreign Affairsthe assurances of its highest considera-tion.

October 26, 1998 6 1998–43 I.R.B.

Part II. Treaties and Tax Legislation

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1998–43 I.R.B. 7 October 26, 1998

26 CFR 601.105: Examination of returns andclaims for refund, credit, or abatement;determination of correct tax liability.(Also Part I, sections 6212; 301.6212–1)

Rev. Proc. 98–54

SECTION 1. PURPOSE

This revenue procedure provides tax-payers with instructions for entering intoan agreement with the Internal RevenueService under § 6212(d) of the InternalRevenue Code to rescind a notice of defi-ciency. This revenue procedure clarifies,modifies, and supersedes Rev. Proc. 88–17, 1988–1 C.B. 692.

SECTION 2. BACKGROUND

.01 Section 6212(a) provides that if theSecretary determines that there is a defi-ciency in respect of any tax imposed bysubtitle A of title 26 (relating to incometaxes), subtitle B (relating to estate, gift,and generation-skipping taxes), or chap-ters 41, 42, 43, or 44 (relating to certainexcise taxes), the Secretary is authorizedto send a notice of the deficiency to thetaxpayer by certified mail or registeredmail.

.02 Section 6212(c)(1) provides, ingeneral, that if the Secretary has mailed tothe taxpayer a notice of deficiency as pro-vided in § 6212(a), and the taxpayer filesa petition with the Tax Court within thetime prescribed in § 6213(a), the Secre-tary has no right to determine any addi-tional deficiency, except in the case offraud, and except as provided in § 6214(a)(relating to assertion of greater deficien-cies before the Tax Court), in § 6213(b)(1) (relating to mathematical orclerical errors), in § 6851 or 6852 (relat-ing to termination assessments), or in § 6861(c) (relating to jeopardy assess-ments).

.03 Section 6213(a) states that within90 days, or 150 days if the notice is ad-dressed to a person outside the UnitedStates, after the notice of deficiency au-thorized in § 6212 is mailed, the taxpayermay file a petition with the Tax Court fora redetermination of the deficiency. Ex-cept as provided in § 6851, 6852, or 6861,no assessment of a deficiency and no levyor proceeding in court for its collectioncan be made, begun, or prosecuted until

the notice has been mailed to the tax-payer, nor until the expiration of the 90-day or 150-day restriction period, as thecase may be, nor, if a petition has beenfiled with the Tax Court, until the decisionof the Tax Court has become final. Under§ 6213(d), a taxpayer may waive these re-strictions at any time.

.04 Section 6501 provides generallythat the amount of any tax imposed bytitle 26 must be assessed within 3 yearsafter the return was filed. Section 6503(a)provides that the running of the period oflimitations in § 6501 is suspended (afterthe mailing of a notice under § 6212(a))for the period during which the Secretaryis prohibited from making the assessmentor from collecting by levy or a proceedingin court, and for 60 days thereafter.

.05(1) Section 6212(d) provides thatthe Secretary may, with the consent of thetaxpayer, rescind any notice of deficiencymailed to the taxpayer. Any notice so rescinded is not treated as a notice of deficiency for purposes of § 6212(c)(1)(relating to further deficiency letters re-stricted), § 6213(a) (relating to restric-tions applicable to deficiencies and peti-tion to Tax Court), and § 6512(a) (relatingto limitations in case of petition to TaxCourt), and the taxpayer has no right tofile a petition with the Tax Court based onthe notice.

(2) The Technical and Miscella-neous Revenue Act of 1988 (Act),§ 1015(m), 1988–3 C.B. 232, amended § 6212(d) by adding the following sen-tence: “Nothing in this subsection shallaffect any suspension of the running ofany period of limitations during any pe-riod during which the rescinded noticewas outstanding.” This amendment is ef-fective for notices of deficiency issued onor after January 1, 1986.

(3) The House Report accompany-ing the Act provides the following exam-ple to illustrate the operation of the finalsentence of § 6212(d):

[A]ssume that six months remain torun on the statute of limitations withrespect to a return when the IRS is-sues a statutory notice of deficiency.Issuance of this notice suspends thestatute of limitations. If the IRS andthe taxpayer agree to rescind thestatutory notice, then as of the date

the notice is rescinded, the statute oflimitations again begins to run and(in this example) six months remains[sic] until the statute expires.

H.R. Rep. No. 795, 100th Cong., 2d Sess.364 (1988).

SECTION 3. SIGNIFICANT CHANGESAND CLARIFICATIONS TO REV.PROC. 88–17

.01 Section 3.05(1) of Rev. Proc.88–17 provides, in part, that the Servicewill not rescind a notice of deficiency if,on the date of rescission, the period oflimitations on assessment would have ex-pired but for the issuance of the notice ofdeficiency. This provision is deleted as aresult of the 1988 amendment to § 6212(d), which clarifies that a notice ofdeficiency that is subsequently rescindedsuspends the period of limitations untilthe date of its rescission. See section4.05(1) of this revenue procedure.

.02 Section 3.05(4) of Rev. Proc. 88–17 provides that the Service will not re-scind a notice of deficiency if, prior to theissuance of the notice of deficiency, thetaxpayer and the Service have executed aForm 872–A, Special Consent to Extendthe Time to Assess Tax, covering any ofthe tax years in the notice of deficiency.This provision is modified to permitrescission, provided the taxpayer and theService execute another Form 872–Aprior to rescission). See section 4.05(4)of this revenue procedure.

.03 Section 4.03 of Rev. Proc. 88–17 isclarified to provide that the Service mayinitiate rescission of a notice of defi-ciency). See section 5.03 of this revenueprocedure.

.04 In lieu of using a Form 8626,Agreement to Rescind Notice of Defi-ciency, the use of an alternative documentis authorized for rescission of a notice ofdeficiency). See section 5.06 of this rev-enue procedure.

SECTION 4. SCOPE AND OBJECTIVE

.01 This revenue procedure applies toagreements to rescind a notice of defi-ciency mailed to a taxpayer pursuant to §6212(a). This procedure does not applyto a Notice of Final Partnership Adminis-trative Adjustment (FPAA) or to a Notice

Part III. Administrative, Procedural, and Miscellaneous

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October 26, 1998 8 1998–43 I.R.B.

of Final S Corporation AdministrativeAdjustment (FSAA).

.02 Whether a notice of deficiency willbe rescinded is discretionary on the partof the Secretary. A notice of deficiencymay only be rescinded with the consent ofthe taxpayer.

.03 If a notice of deficiency is re-scinded, it is generally treated as if itnever existed. Limitations regardingcredits, refunds, and assessments relatingto the rescinded notice are void and therights and obligations of the parties thatexisted prior to the issuance of the noticeof deficiency are reinstated. The re-scinded notice does, however, suspend therunning of the period of limitations under§ 6503 for the period during which thenotice is outstanding. The Commissioneror the Commissioner’s delegate may issuea later notice of deficiency in an amountthat exceeds, is the same as, or is less thanthe amount in the rescinded notice of defi-ciency. The taxpayer may exercise all ad-ministrative and statutory appeal rightsfrom a reissued notice of deficiency, butcannot petition the Tax Court from a re-scinded notice of deficiency.

.04 Except as provided in section 4.05of this revenue procedure, a notice of de-ficiency may be rescinded for the follow-ing reasons:

(1) The notice was issued as a resultof an administrative error: for example,the notice was issued (a) to the wrong tax-payer, (b) for the wrong tax period, or (c)without considering a properly executedForm 872, Consent to Extend the Time toAssess Tax, or Form 872–A;

(2) The taxpayer submits informa-tion establishing the actual tax due is lessthan the amount shown in the notice; or

(3) The taxpayer specifically re-quests a conference with the appropriateAppeals office for the purpose of enteringinto settlement negotiations. However,the notice may be rescinded only if theappropriate Appeals office first decidesthat the case is susceptible to agreement.

.05 The Service will not rescind a no-tice of deficiency under the following cir-cumstances:

(1) On the date of the rescission, 90days or less would remain before the ex-piration date of the period of limitationson assessment. However, a notice of defi-ciency may be rescinded in these circum-stances if, before the rescission, the tax-

payer and the Service execute a consent toextend the period of limitations on Form872 or Form 872–A;

(2) The 90-day or 150-day restrictionperiod under § 6213(a) has expired with-out the taxpayer filing a petition with theTax Court;

(3) The taxpayer has filed a petitionwith the Tax Court; or

(4) The taxpayer and the Service,prior to the issuance of the notice of defi-ciency, have executed a Form 872–A cov-ering any of the tax years in the notice ofdeficiency. A notice of deficiency may berescinded in this situation, however, ifprior to rescinding the notice of defi-ciency the taxpayer and the Service exe-cute a new Form 872–A covering thesame tax years as the earlier Form 872–A.

SECTION 5. PROCEDURE

.01 Taxpayers that wish to have a no-tice of deficiency rescinded should con-tact the person/office listed on the noticeand request Form 8626. Taxpayers thatwish an Appeals conference (see section4.04(3) of this revenue procedure) shouldcontact the person/office listed on the no-tice to find out how to contact the appro-priate Appeals Office.

.02 A request to rescind a notice of de-ficiency should be made by the taxpayeras soon as possible after receipt of the no-tice because a notice will not be rescindedafter the 90-day or 150-day restriction pe-riod under § 6213(a) has expired.

.03 If the Service determines that a no-tice of deficiency should be rescinded, theService will send Form 8626 to the tax-payer requesting the taxpayer’s writtenconsent to rescind. If appropriate, Form872 or Form 872–A will also be sent forthe taxpayer’s signature. If the taxpayeragrees to the rescission of the notice ofdeficiency, the signed Form 8626 (andForm 872 or Form 872–A if appropriate)must be returned to the office that sent theForm 8626 as soon as possible, prior tothe expiration of the applicable 90-day or150-day restriction period. After theForm 8626 is returned by the taxpayerand signed on behalf of the Commis-sioner, a copy will be sent to the taxpayer(and/or the taxpayer’s authorized repre-sentative(s)). The effective date of therescission agreement is the date on whichthe Commissioner’s delegate signs Form8626.

.04 If the notice of deficiency was is-sued to a husband and wife jointly, Form8626 and, if appropriate, Form 872 orForm 872-A, must be signed by both thehusband and wife, or their authorized rep-resentative(s). If Form 8626 and/or Form872 or Form 872–A is signed by a repre-sentative, and a power of attorney has notpreviously been filed, the power of attor-ney must be included with Form 8626.

.05 Form 8626 must cover the sametax period(s) as the notice of deficiency towhich it relates and must reflect the sametax deficiency and penalties as the noticeof deficiency.

.06 Although use of Form 8626 is pre-ferred, a document that reflects agreementby the taxpayer and the Service to rescindthe notice of deficiency, pursuant to § 6212(d), may be used in lieu of Form8626. Such a document will not be effec-tive unless it contains the following:

(1) a statement that the taxpayer andthe Commissioner’s delegate agree to re-scind the notice of deficiency;

(2) identification of the notice of de-ficiency, including the date it was issued,the type of tax, the tax period(s), and theamount(s) of the deficiency or deficien-cies and any penalties;

(3) representations that the period oflimitations on assessment has not expiredand that the taxpayers have not petitionedthe Tax Court;

(4) an agreement that the effect ofthe rescission is to return the parties to therights and obligations existing immedi-ately prior to the issuance of the rescindednotice of deficiency, including the right ofthe Service to issue a later notice of defi-ciency, for any amount, and the right ofthe taxpayer then to appeal to the TaxCourt; and

(5) the signatures (on the same docu-ment) of both the Commissioner’s dele-gate and the taxpayer (or the taxpayer’srepresentative). If the document is signedby the taxpayer’s representative, and apower of attorney has not previously beenfiled, the power of attorney must be in-cluded with the document.

.07 A properly executed Form 8626 (ora document as provided in section 5.06 ofthis revenue procedure) is the only waythat a notice of deficiency may be re-scinded.

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1998–43 I.R.B. 9 October 26, 1998

.08 If the Service does not agree thatthe notice of deficiency should be re-scinded, the taxpayer will be so notified inwriting, and the notice of deficiency willremain in effect. If the taxpayer wishes tofile a petition with the Tax Court, the tax-payer must file the petition within the ap-plicable 90-day or 150-day restriction pe-riod, which may not be extended.

SECTION 6. EFFECT ON OTHERREVENUE PROCEDURES

Rev. Proc. 88–17, 1988–1 C.B. 692, isclarified, modified, and superseded.

SECTION 7. EFFECTIVE DATE

This revenue procedure is effectivewith respect to notices of deficiency is-sued on or after January 1, 1986.

DRAFTING INFORMATION

The principal author of this revenueprocedure is Catherine A. Prohofsky ofthe Office of Assistant Chief Counsel (In-come Tax and Accounting). For furtherinformation regarding this revenue proce-dure, contact Andrew Irving on (202)622-4930 (not a toll-free call).

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October 26, 1998 10 1998–43 I.R.B.

Information Reporting withRespect to Certain ForeignPartnerships

Announcement 98–93

The Internal Revenue Service an-nounces that it is requesting commentsfrom the public on proposed new Form8865 and its accompanying instructions.The form is to be used to satisfy the re-porting requirements with respect to cer-tain foreign partnerships under sections6038, 6038B, and 6046A. Attached tothis announcement is a copy of the pro-posed form and instructions.

BACKGROUND

The Taxpayer Relief Act of 1997 (TRA97), Pub. L. No. 105–34, 111 Stat. 983(1997), significantly modified the infor-mation reporting requirements with re-spect to foreign partnerships under sec-tions 6038, 6038B, and 6046A. OnSeptember 9, 1998, the Service published

in the Federal Register proposed regula-tions §§ 1.6038–3, 1.6038B–2, and1.6046A–1. These regulations would im-plement the new foreign partnership re-porting regime put in place by TRA 97.The proposed regulations provide that theinformation required to be reported pur-suant to sections 6038, 6038B, and 6046Amust be reported on Form 8865, Informa-tion Return of U.S. Persons with Respectto Certain Foreign Partnerships. Treasuryand the Service have requested commentsregarding the proposed regulations andhave scheduled a public hearing on theproposed regulations for November 10,1998. The hearing will be held in room2615, Internal Revenue Building, 1111Constitution Avenue, NW, Washington,DC.

REQUEST FOR COMMENTS ON THEFORM

Comments about proposed Form 8865and its instructions may be made in writ-ing and at the November 10, 1998 hear-

ing. Treasury and the Service are particu-larly interested in receiving comments onwhether the form’s requirements are bur-densome, and, if they are, how the burdenmight be ameliorated while still protect-ing the interests of the government andcarrying out the purposes of the statute.Treasury and the Service also are inter-ested in receiving comments on whetherany of the information required by theform is duplicative of information re-ported elsewhere and whether any of theinformation required by the form is un-necessary. Outlines of comments regard-ing the proposed form that will be made atthe hearing must be received by Novem-ber 6, 1998.

Written comments about the form andinstructions should be sent to: Chairman,Tax Forms Coordinating Committee, In-ternal Revenue Service, OP:FS:FP, Room5577, 1111 Constitution Avenue, NW,Washington, DC 20224. Alternatively,you may e-mail your comments to [email protected].

Part IV. Items of General Interest

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Foundations Status of CertainOrganizations

Announcement 98–94The following organizations have

failed to establish or have been unable tomaintain their status as public charities oras operating foundations. Accordingly,grantors and contributors may not, afterthis date, rely on previous rulings or des-ignations in the Cumulative List of Orga-nizations (Publication 78), or on the pre-sumption arising from the fi l ing ofnotices under section 508(b) of the Code.This listing does not indicate that the or-ganizations have lost their status as orga-nizations described in section 501(c)(3),eligible to receive deductible contribu-tions.

Former Public Charities.The followingorganizations (which have been treated asorganizations that are not private founda-tions described in section 509(a) of theCode) are now classified as private founda-tions:

Asociacion de Salud Rural, Chicago, ILBrookline Housing Corporation,

Brookline, MAChicago Law Foundation, The,

Chicago, ILDominican Family Institute, Inc., New

York, NYDomov Corporation, The, Ganado, TXFilm Project for Womens History and

Future, The, Chicago, ILInner Strength Ministry, Jackson, MIKind Foundation Inc., Sterling, NJPacific Asia Council of Indigenous

Peoples – Hawaii, Waianae, HIPathfinders for Positive Parenting and

Nurturing of the Black Family,Birmingham, AL

Pro SE Today, Inc., Oshkosh, WIRunestone Museum Foundation,

Alexandria, MNTuesday Morning Inc., Brookfield, ILUtah Quilt Heritage Corporation, Draper,

UTVictims Have Rights Too, Inc., Atlanta,

GA

West Shore Gymnastics Parents Assoc.,Holland, MIIf an organization listed above submits

information that warrants the renewal ofits classification as a public charity or as aprivate operating foundation, the InternalRevenue Service will issue a ruling or de-termination letter with the revised classifi-cation as to foundation status. Grantorsand contributors may thereafter rely uponsuch ruling or determination letter as pro-vided in section 1.509(a)–7 of the IncomeTax Regulations. It is not the practice ofthe Service to announce such revised clas-sification of foundation status in the Inter-nal Revenue Bulletin.

October 26, 1998 32 1998–43 I.R.B.

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1998–43 I.R.B. 33 October 26, 1998

Name Address Designation Effective Date

Galt, Edward G. Monterey, CA CPA October 25, 1997

Lopez, Andrew L. Albuquerque, NM CPA December 11, 1997

Branch, Jimmie L. Jacksonville, FL CPA January 15, 1998

Harrison, Rebecca A. Carmichael, CA Enrolled Agent March 4, 1998

Mayer, Robert J. Wexford, PA CPA June 4, 1998

Announcement of the Disbarment and Suspension of Attorneys, CertifiedPublic Accountants, Enrolled Agents, and Enrolled Actuaries FromPractice Before the Internal Revenue Service

Under 330, Title 31 of the UnitedStates Code, the Secretary of the Trea-sury, after due notice and opportunity forhearing, is authorized to suspend or dis-bar from practice before the Internal Rev-enue Service any person who has vio-lated the rules and regulations governingthe recognition of attorneys, certifiedpublic accountants, enrolled agents, orenrolled actuaries to practice before theInternal Revenue Service.

Attorneys, certified public accountants,enrolled agents, and enrolled actuaries areprohibited in any Internal Revenue Servicematter from directly or indirectly employ-

ing, accepting assistance from, being em-ployed by, or sharing fees with, any practi-tioner disbarred or suspended from prac-tice before the Internal Revenue Service.

To enable attorneys, certified public ac-countants, enrolled agents, and enrolledactuaries to identify such disbarred or sus-pended practitioners, the Directorof Practice will announce in the InternalRevenue Bulletin the names and ad-dresses of practitioners who have beensuspended from such practice, their desig-nation as attorney, certified public ac-countant, enrolled agent, or enrolled actu-ary, and date or period of suspension. This

announcement will appear in the weeklyBulletin at the earliest practicable dateafter such action and will continue to ap-pear in the weekly Bulletins for five suc-cessive weeks or for as many weeks as ispracticable for each attorney, certifiedpublic accountant, enrolled agent, or en-rolled actuary so suspended or disbarredand will be consolidated and published inthe Cumulative Bulletin.

After due notice and opportunity forhearing before an administrative lawjudge, the following individuals havebeen disbarred from further practice be-fore the Internal Revenue Service:

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October 26, 1998 34 1998–43 I.R.B.

Under title 31 of the Code of FederalRegulations, section 10.76, the Directorof Practice is authorized to immediatelysuspend from practice before the InternalRevenue Service any practitioner who,within five years from the date the expe-dited proceeding is instituted, (1) has hada license to practice as an attorney, certi-fied public accountant, or actuary sus-pended or revoked for cause; or (2) hasbeen convicted of any crime under title 26of the United States Code or, of a felonyunder title 18 of the United States Codeinvolving dishonesty or breach of trust.

Attorneys, certified public accountants,enrolled agents, and enrolled actuaries are

prohibited in any Internal Revenue Servicematter from directly or indirectly employ-ing, accepting assistance from, being em-ployed by, or sharing fees with, any practi-tioner disbarred or suspended from practicebefore the Internal Revenue Service.

To enable attorneys, certified public ac-countants, enrolled agents, and enrolled ac-tuaries to identify practitioners under expe-dited suspension from practice before theInternal Revenue Service, the Director ofPractice will announce in the Internal Rev-enue Bulletin the names and addresses ofpractitioners who have been suspendedfrom such practice, their designation as at-torney, certified public accountant, en-

rolled agent, or enrolled actuary, and dateor period of suspension. This announce-ment will appear in the weekly Bulletin atthe earliest practicable date after such ac-tion and will continue to appear in theweekly Bulletins for five successive weeksor for as many weeks as is practicable foreach attorney, certified public accountant,enrolled agent, or enrolled actuary so sus-pended and will be consolidated and pub-lished in the Cumulative Bulletin.

The following individuals have beenplaced under suspension from practice be-fore the Internal Revenue Service by virtueof the expedited proceeding provisions ofthe applicable regulations:

Announcement of the Expedited Suspension of Attorneys, Certified PublicAccountants, Enrolled Agents, and Enrolled Actuaries From PracticeBefore the Internal Revenue Service

Name Address Designation Date of Suspension

Clark, Sheila Houston, TX CPA Indefinite from April 21, 1998

Kimes, Larry W. Austin, TX Attorney Indefinite from May 5, 1998

Braiteman, Sheldon Baltimore, MD Attorney Indefinite from June 5, 1998

Pollack, Michael Guttenberg, NJ Attorney Indefinite from June 11, 1998

Eichenbaum, Irving Huntingdon Valley, PA CPA Indefinite from August 4, 1998

Corley, Francis R. Irmo, SC CPA Indefinite from August 4, 1998

Scott, Richard Lincoln, NE Attorney Indefinite from August 4, 1998

Wilson, Douglas D. Roanoke, VA Attorney Indefinite from August 4, 1998

Watkins, Brian R. Lincoln, NE Attorney Indefinite

Congdon Jr., Byron E. San Bernadino, CA Attorney Indefinite from August 4, 1998

Abrams, Robert Elmsford, NY CPA Indefinite from August 4, 1998

Robinson, Doane Rapid City, SD CPA Indefinite from August 4, 1998

Szarwark, Ernest Nashville, TN Attorney Indefinite from August 4, 1998

Roberts, Mark Norman, OK CPA Indefinite from August 4, 1998

Wood, Randall K. Springfield, MO Attorney Indefinite from August 5, 1998

Chappell, Ronald L. Antelope, CA CPA Indefinite from August 12, 1998

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1998–43 I.R.B. 35 October 26, 1998

Name Address Designation Date of Suspension

Makula, John G. Park Ridge, IL CPA April 1, 1998 to March 31, 2003

Slomski, Michael Gross Pointe Woods, MI CPA April 1, 1998 to March 31, 2001

Bozeman Jr., T. Alvin Sylvester, GA CPA May 22, 1998 to November 21, 1999

Parness, Richard A. Westfield, NJ CPA June 1, 1998 to December 31, 1998

Register, Billy Havana, FL CPA Indefinite from July 10, 1998

Cooper, Michael E. Edina, MN CPA August 19, 1998 to February 18, 1999

Minello, Michael J. Clarks Summit, PA CPA August 28, 1998 to April 27, 2001

Holden, William W. Fairfield, CT CPA September 1, 1998 to March 31, 1999

Freeman, Samuel Bedford, NH CPA September 1, 1998 to August 31, 1999

Anders, Kevin Williamport, MD CPA September 1, 1998 to August 31, 2001

Breed, Robert M. Concord, MA CPA September 1, 1998 to February 28, 2001

Sandirk, Paula Brooks Chehalis, WA CPA November 1, 1998 to April 30, 2000

Neuhaus Jr., George Brewster, NY CPA November 1, 1998 to April 30, 2000

Announcement of the Consent Voluntary Suspension of Attorneys,Certified Public Accountants, Enrolled Agents, and Enrolled ActuariesFrom Practice Before the Internal Revenue Service

Under 31 Code of Federal Regulations,Part 10, an attorney, certified public ac-countant, enrolled agent, or enrolled ac-tuary, in order to avoid the institution orconclusion of a proceeding for his disbar-ment or suspension from practice beforethe Internal Revenue Service, may offerhis consent to suspension from such prac-tice. The Director of Practice, in his dis-cretion, may suspend an attorney, certi-fied public accountant, enrolled agent, orenrolled actuary in accordance with theconsent offered.

Attorneys, certified public accountants,enrolled agents, and enrolled actuaries areprohibited in any Internal Revenue Ser-

vice matter from directly or indirectly em-ploying, accepting assistance from, beingemployed by, or sharing fees with anypractitioner disbarred or suspended frompractice before the Internal Revenue Ser-vice.

To enable attorneys, certified public ac-countants, enrolled agents, and enrolledactuaries to identify practitioners underconsent suspension from practice before theInternal Revenue Service, the Directorof Practice will announce in the InternalRevenue Bulletin the names and ad-dresses of practitioners who have beensuspended from such practice, their desig-nation as attorney, certified public ac-

countant, enrolled agent, or enrolled actu-ary, and date or period of suspension. Thisannouncement will appear in the weeklyBulletin at the earliest practicable dateafter such action and will continue to ap-pear in the weekly Bulletins for five suc-cessive weeks or for as many weeks as ispracticable for each attorney, certifiedpublic accountant, enrolled agent, or en-rolled actuary so suspended and will beconsolidated and published in the Cumu-lative Bulletin.

The following individuals have beenplaced under consent suspension frompractice before the Internal Revenue Ser-vice:

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October 26, 1998 36 1998–43 I.R.B.

Revenue rulings and revenue procedures(hereinafter referred to as “rulings”) thathave an effect on previous rulings use thefollowing defined terms to describe theeffect:

Amplified describes a situation whereno change is being made in a prior pub-lished position, but the prior position isbeing extended to apply to a variation ofthe fact situation set forth therein. Thus,if an earlier ruling held that a principleapplied to A, and the new ruling holdsthat the same principle also applies to B,the earlier ruling is amplified. (Comparewith modified, below).

Clarified is used in those instanceswhere the language in a prior ruling isbeing made clear because the languagehas caused, or may cause, some confu-sion. It is not used where a position in aprior ruling is being changed.

Distinguisheddescribes a situationwhere a ruling mentions a previouslypublished ruling and points out an essen-tial difference between them.

Modified is used where the substanceof a previously published position isbeing changed. Thus, if a prior rulingheld that a principle applied to A but notto B, and the new ruling holds that it ap-

plies to both A and B, the prior ruling ismodified because it corrects a publishedposition. (Compare with amplified andclarified, above).

Obsoleted describes a previously pub-lished ruling that is not considered deter-minative with respect to future transac-tions. This term is most commonly usedin a ruling that lists previously publishedrulings that are obsoleted because ofchanges in law or regulations. A rulingmay also be obsoleted because the sub-stance has been included in regulationssubsequently adopted.

Revoked describes situations where theposition in the previously published rul-ing is not correct and the correct positionis being stated in the new ruling.

Superseded describes a situation wherethe new ruling does nothing more than re-state the substance and situation of a pre-viously published ruling (or rulings).Thus, the term is used to republish underthe 1986 Code and regulations the sameposition published under the 1939 Codeand regulations. The term is also usedwhen it is desired to republish in a singleruling a series of situations, names, etc.,that were previously published over a pe-riod of time in separate rulings. If the

new ruling does more than restate thesubstance of a prior ruling, a combinationof terms is used. For example,modifiedand superseded describes a situationwhere the substance of a previously pub-lished ruling is being changed in part andis continued without change in part and itis desired to restate the valid portion ofthe previously published ruling in a newruling that is self contained. In this casethe previously published ruling is firstmodified and then, as modified, is super-seded.

Supplemented is used in situations inwhich a list, such as a list of the names ofcountries, is published in a ruling andthat list is expanded by adding furthernames in subsequent rulings. After theoriginal ruling has been supplementedseveral times, a new ruling may be pub-lished that includes the list in the originalruling and the additions, and supersedesall prior rulings in the series.

Suspended is used in rare situations toshow that the previous published rulingswill not be applied pending some futureaction such as the issuance of new oramended regulations, the outcome ofcases in litigation, or the outcome of aService study.

AbbreviationsThe following abbreviations in current use and for-merly used will appear in material published in theBulletin.

A—Individual.

Acq.—Acquiescence.

B—Individual.

BE—Beneficiary.

BK—Bank.

B.T.A.—Board of Tax Appeals.

C.—Individual.

C.B.—Cumulative Bulletin.

CFR—Code of Federal Regulations.

CI—City.

COOP—Cooperative.

Ct.D.—Court Decision.

CY—County.

D—Decedent.

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—Employer.

ERISA—Employee Retirement Income Security Act.

EX—Executor.

F—Fiduciary.

FC—Foreign Country.

FICA—Federal Insurance Contribution Act.

FISC—Foreign International Sales Company.

FPH—Foreign Personal Holding Company.

F.R.—Federal Register.

FUTA—Federal Unemployment Tax Act.

FX—Foreign Corporation.

G.C.M.—Chief Counsel’s Memorandum.

GE—Grantee.

GP—General Partner.

GR—Grantor.

IC—Insurance Company.

I.R.B.—Internal Revenue Bulletin.

LE—Lessee.

LP—Limited Partner.

LR—Lessor.

M—Minor.

Nonacq.—Nonacquiescence.

O—Organization.

P—Parent Corporation.

PHC—Personal Holding Company.

PO—Possession of the U.S.

PR—Partner.

PRS—Partnership.

PTE—Prohibited Transaction Exemption.

Pub. L.—Public Law.

REIT—Real Estate Investment Trust.

Rev. Proc.—Revenue Procedure.

Rev. Rul.—Revenue Ruling.

S—Subsidiary.

S.P.R.—Statements of Procedral Rules.

Stat.—Statutes at Large.

T—Target Corporation.

T.C.—Tax Court.

T.D.—Treasury Decision.

TFE—Transferee.

TFR—Transferor.

T.I.R.—Technical Information Release.

TP—Taxpayer.

TR—Trust.

TT—Trustee.

U.S.C.—United States Code.

X—Corporation.

Y—Corporation.

Z—Corporation.

Definition of Terms

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1998–43 I.R.B. 37 October 26, 1998

Numerical Finding List1Bulletins 1998–29 through 42

Announcements:

98–62, 1998–29 I.R.B. 1398–68, 1998–29 I.R.B. 1498–69, 1998–30 I.R.B. 1698–70, 1998–30 I.R.B. 1798–71, 1998–30 I.R.B. 1798–72, 1998–31 I.R.B.1498–73, 1998–31 I.R.B.1498–74, 1998–31 I.R.B.1598–75, 1998–31 I.R.B.1598–76, 1998–32 I.R.B.6498–77, 1998–34 I.R.B.3098–78, 1998–34 I.R.B.3098–79, 1998–34 I.R.B.3198–80, 1998–34 I.R.B.3298–81, 1998–36 I.R.B.3598–82, 1998–35 I.R.B. 1798–83, 1998–36 I.R.B. 3698–84, 1998–38 I.R.B.3098–85, 1998–38 I.R.B.3098–86, 1998–38 I.R.B.3198–87, 1998–40 I.R.B.1198–88, 1998–41 I.R.B. 1498–89, 1998–40 I.R.B.1198–90, 1998–42 I.R.B.2298–91, 1998–40 I.R.B.1298–92, 1998–41 I.R.B.15

Court Decisions:

2063, 1998–36 I.R.B. 132064, 1998–37 I.R.B. 42065, 1998–39 I.R.B.7

Notices:

98–36, 1998–29 I.R.B. 898–37, 1998–30 I.R.B.1398–38, 1998–34 I.R.B.798–39, 1998–33 I.R.B.1198–40, 1998–35 I.R.B. 798–41, 1998–33 I.R.B.1298–42, 1998–33 I.R.B.1298–43, 1998–33 I.R.B.1398–44, 1998–34 I.R.B.798–45, 1998–35 I.R.B.798–46, 1998–36 I.R.B. 2198–47, 1998–37 I.R.B. 898–48, 1998–39 I.R.B.1798–49, 1998–38 I.R.B.5

Railroad Retirement Quarterly Rate:

1998–31 I.R.B. 7

Proposed Regulations:

REG–209446–82, 1998–36 I.R.B. 24REG–209060–86, 1998–39 I.R.B. 18REG–209769–95, 1998–41 I.R.B.8REG–209813–96, 1998–35 I.R.B. 9REG–246256–96, 1998–34 I.R.B.9REG–104641–97, 1998–29 I.R.B. 9REG–104565–97, 1998–39 I.R.B.21REG–106177–97, 1998–37 I.R.B.33REG–115446–97, 1998–36 I.R.B. 23REG–116608–97, 1998–29 I.R.B. 12REG–118926–97, 1998–39 I.R.B.23REG–118966–97, 1998–39 I.R.B.29

Proposed Regulations—Continued

REG–119227–97, 1998–30 I.R.B. 13REG–122488–97, 1998–42 I.R.B. 19REG–101363–98, 1998–40 I.R.B.10REG–106221–98, 1998–41 I.R.B.10REG–110332–98, 1998–33 I.R.B.18REG–110403–98, 1998–29 I.R.B.11REG–115393–98, 1998–39 I.R.B.34

Revenue Procedures:

98–40, 1998–32 I.R.B. 698–41, 1998–32 I.R.B. 798–42, 1998–28 I.R.B. 998–43, 1998–29 I.R.B. 898–44, 1998–32 I.R.B. 1198–45, 1998–34 I.R.B.898–46, 1998–36 I.R.B. 2198–47, 1998–37 I.R.B. 898–48, 1998–38 I.R.B.798–49, 1998–37 I.R.B. 998–50, 1998–38 I.R.B.898–51, 1998–38 I.R.B.2098–52, 1998–37 I.R.B. 1298–53, 1998–40 I.R.B.9

Revenue Rulings:

98–34, 1998–31 I.R.B. 1298–35, 1998–30 I.R.B. 498–36, 1998–31 I.R.B.698–37, 1998–32 I.R.B.598–38, 1998–32 I.R.B.498–39, 1998–33 I.R.B.498–40, 1998–33 I.R.B.498–41, 1998–35 I.R.B.698–42, 1998–35 I.R.B. 598–43, 1998–36 I.R.B. 998–44, 1998–37 I.R.B.498–45, 1998–38 I.R.B.498–46, 1998–39 I.R.B. 1098–47, 1998–39 I.R.B. 498–48, 1998–39 I.R.B. 698–49, 1998–40 I.R.B.498–50, 1998–40 I.R.B.7

Treasury Decisions:

8771, 1998–29 I.R.B. 68772, 1998–31 I.R.B. 88773, 1998–29 I.R.B. 48774, 1998–30 I.R.B. 58775, 1998–31 I.R.B.48776, 1998–33 I.R.B.68777, 1998–34 I.R.B.48778, 1998–36 I.R.B. 48779, 1998–36 I.R.B. 118780, 1998–39 I.R.B.148781, 1998–40 I.R.B. 48782, 1998–41 I.R.B.58783, 1998–41 I.R.B.48784, 1998–42 I.R.B.48785, 1998–42 I.R.B.5

1 A cumulative list of all revenue rulings, revenueprocedures, Treasury decisions, etc., published inInternal Revenue Bulletins 1998–1 through 1998–28will be found in Internal Revenue Bulletin 1998–29,dated July 20, 1998.

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October 26, 1998 38 1998–43 I.R.B.

Finding List of Current Action onPreviously Published Items1

Bulletins 1998–29 through 42

*Denotes entry since last publication

Notices:

87–13Modified by98–49, 1998–38 I.R.B. 5

87–16Modified by98–49, 1998–38 I.R.B. 5

Revenue Procedures:

83–58Obsoleted by98–37, 1998–32 I.R.B. 5

97–60Superseded by98–50, 1998–38 I.R.B. 8

97–61Superseded by98–51, 1998–38 I.R.B. 20

98–14Modified by98–53, 1998–40 I.R.B. 9

Revenue Rulings:

57–271Obsoleted by98–37, 1998–32 I.R.B. 5

67–301Modified by98–41, 1998–35 I.R.B. 6

70–225Obsoleted by98–44, 1998–37 I.R.B. 4

71–277Obsoleted by98–37, 1998–32 I.R.B. 5

71–434Obsoleted by98–37, 1998–32 I.R.B. 5

71–574Obsoleted by98–37, 1998–32 I.R.B. 5

72–75Obsoleted by98–37, 1998–32 I.R.B. 5

72–120Obsoleted by98–37, 1998–32 I.R.B. 5

72–121Obsoleted by98–37, 1998–32 I.R.B. 5

72–122Obsoleted by98–37, 1998–32 I.R.B. 5

74–77Obsoleted by98–37, 1998–32 I.R.B. 5

75–19Obsoleted by98–37, 1998–32 I.R.B. 5

Revenue Rulings—Continued

76–562Obsoleted by98–37, 1998–32 I.R.B. 5

77–214Obsoleted by98–37, 1998–32 I.R.B. 5

79–106Obsoleted by98–37, 1998–32 I.R.B. 5

83–113Obsoleted by98–37, 1998–32 I.R.B. 5

85–143Obsoleted by98–37, 1998–32 I.R.B. 5

88–8Obsoleted by98–37, 1998–32 I.R.B. 5

88–76Obsoleted by98–37, 1998–32 I.R.B. 5

88–79Obsoleted by98–37, 1998–32 I.R.B. 5

93–4Obsoleted by98–37, 1998–32 I.R.B. 5

93–5Obsoleted by98–37, 1998–32 I.R.B. 5

93–6Obsoleted by98–37, 1998–32 I.R.B. 5

93–30Obsoleted by98–37, 1998–32 I.R.B. 5

93–38Obsoleted by98–37, 1998–32 I.R.B. 5

93–49Obsoleted by98–37, 1998–32 I.R.B. 5

93–50Obsoleted by98–37, 1998–32 I.R.B. 5

93–53Obsoleted by98–37, 1998–32 I.R.B. 5

93–81Obsoleted by98–37, 1998–32 I.R.B. 5

93–91Obsoleted by98–37, 1998–32 I.R.B. 5

93–92Obsoleted by98–37, 1998–32 I.R.B. 5

93–93Obsoleted by98–37, 1998–32 I.R.B. 5

Revenue Rulings—Continued

94–5Obsoleted by98–37, 1998–32 I.R.B. 5

94–6Obsoleted by98–37, 1998–32 I.R.B. 5

94–30Obsoleted by98–37, 1998–32 I.R.B. 5

94–51Obsoleted by98–37, 1998–32 I.R.B. 5

94–79Obsoleted by98–37, 1998–32 I.R.B. 595–2Obsoleted by98–37, 1998–32 I.R.B. 5

95–9Obsoleted by98–37, 1998–32 I.R.B. 5

97–37Obsoleted by98–39, 1998–33 I.R.B. 4

1 A cumulative finding list for previously publisheditems mentioned in Internal Revenue Bulletins1998–1 through 1998–28 will be found in InternalRevenue Bulletin 1998–29, dated July 20, 1998.

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IRB 1998-43 10/21/98 4:45 PM

INTERNAL REVENUE BULLETINThe Introduction on page 3 describes the purpose and content of this publication. The weekly Internal Revenue Bulletin is sold on

a yearly subscription basis by the Superintendent of Documents. Current subscribers are notified by the Superintendent ofDocuments when their subscriptions must be renewed.

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IRB 1998-43 10/21/98 4:45 PM