Bulletin No. 1998–43

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Bulletin No. 1998–43

October 26, 1998

Internal Revenue

bulletin

HIGHLIGHTS

OF THIS ISSUE

These synopses are intended only as aids to the reader in

identifying the subject matter covered. They may not be

relied upon as authoritative interpretations.

INCOME TAX

Rev. Rul. 98–51, page 4.

LIFO; price indexes; department stores. The August

1998 Bureau of Labor Statistics price indexes are accepted

for use by department stores employing the retail inventory

and last-in, first-out inventory methods for valuing inventories

for tax years ended on, or with reference to, August 31,

1998.

EXEMPT ORGANIZATIONS

emption of income from the international operation of

ships/aircraft, is set forth.

ADMINISTRATIVE

Rev. Proc. 98–54, page 7.

Rescission of deficiency notice. Taxpayers are provided

with instructions for entering into an agreement with the Service to rescind a notice of deficiency. Rev. Proc. 88–17 clarified, modified, and superseded.

Announcement 98–94, page 32.

A list is given of organizations now classified as private foundations.

TAX CONVENTIONS

Page 6.

Announcement 98–93, page 10.

Public comments are requested on proposed new Form

8865, Information Return of U.S. Persons With Respect to

Certain Foreign Partnerships, and its accompanying instructions.

The bilateral agreement between the United States and the

United Arab Emirates, providing for the reciprocal tax ex-

Finding Lists begin on page 37.

Announcement of Disbarments and Suspensions begins on page 33.

Department of the Treasury

Internal Revenue Service

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Mission of the Service

ucts and services; and perform in a manner warranting

the highest degree of public confidence in our integrity, efficiency, and fairness.

The purpose of the Internal Revenue Service is to collect

the proper amount of tax revenue at the least cost; serve

the public by continually improving the quality of our prod-

Statement of Principles

of Internal Revenue

Tax Administration

The Service also has the responsibility of applying and

administering the law in a reasonable, practical manner.

Issues should only be raised by examining officers when

they have merit, never arbitrarily or for trading purposes.

At the same time, the examining officer should never hesitate to raise a meritorious issue. It is also important that

care be exercised not to raise an issue or to ask a court to

adopt a position inconsistent with an established Service

position.

The function of the Internal Revenue Service is to administer the Internal Revenue Code. Tax policy for raising revenue

is determined by Congress.

With this in mind, it is the duty of the Service to carry out that

policy by correctly applying the laws enacted by Congress;

to determine the reasonable meaning of various Code provisions in light of the Congressional purpose in enacting them;

and to perform this work in a fair and impartial manner, with

neither a government nor a taxpayer point of view.

Administration should be both reasonable and vigorous. It

should be conducted with as little delay as possible and

with great courtesy and considerateness. It should never

try to overreach, and should be reasonable within the

bounds of law and sound administration. It should, however, be vigorous in requiring compliance with law and it

should be relentless in its attack on unreal tax devices and

fraud.

At the heart of administration is interpretation of the Code. It

is the responsibility of each person in the Service, charged

with the duty of interpreting the law, to try to find the true

meaning of the statutory provision and not to adopt a

strained construction in the belief that he or she is “protecting the revenue.” The revenue is properly protected only

when we ascertain and apply the true meaning of the statute.

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Introduction

The Internal Revenue Bulletin is the authoritative instrument

of the Commissioner of Internal Revenue for announcing official rulings and procedures of the Internal Revenue Service

and for publishing Treasury Decisions, Executive Orders, Tax

Conventions, legislation, court decisions, and other items of

general interest. It is published weekly and may be obtained

from the Superintendent of Documents on a subscription

basis. Bulletin contents of a permanent nature are consolidated semiannually into Cumulative Bulletins, which are sold

on a single-copy basis.

dures must be considered, and Service personnel and others concerned are cautioned against reaching the same conclusions in other cases unless the facts and circumstances

are substantially the same.

The Bulletin is divided into four parts as follows:

Part I.—1986 Code.

This part includes rulings and decisions based on provisions

of the Internal Revenue Code of 1986.

It is the policy of the Service to publish in the Bulletin all substantive rulings necessary to promote a uniform application

of the tax laws, including all rulings that supersede, revoke,

modify, or amend any of those previously published in the

Bulletin. All published rulings apply retroactively unless otherwise indicated. Procedures relating solely to matters of internal management are not published; however, statements

of internal practices and procedures that affect the rights

and duties of taxpayers are published.

Part II.—Treaties and Tax Legislation.

This part is divided into two subparts as follows: Subpart A,

Tax Conventions, and Subpart B, Legislation and Related

Committee Reports.

Part III.—Administrative, Procedural, and Miscellaneous.

To the extent practicable, pertinent cross references to

these subjects are contained in the other Parts and Subparts. Also included in this part are Bank Secrecy Act Administrative Rulings. Bank Secrecy Act Administrative Rulings

are issued by the Department of the Treasury’s Office of the

Assistant Secretary (Enforcement).

Revenue rulings represent the conclusions of the Service on

the application of the law to the pivotal facts stated in the

revenue ruling. In those based on positions taken in rulings

to taxpayers or technical advice to Service field offices,

identifying details and information of a confidential nature

are deleted to prevent unwarranted invasions of privacy and

to comply with statutory requirements.

Part IV.—Items of General Interest.

With the exception of the Notice of Proposed Rulemaking

and the disbarment and suspension list included in this part,

none of these announcements are consolidated in the Cumulative Bulletins.

Rulings and procedures reported in the Bulletin do not have

the force and effect of Treasury Department Regulations,

but they may be used as precedents. Unpublished rulings

will not be relied on, used, or cited as precedents by Service

personnel in the disposition of other cases. In applying published rulings and procedures, the effect of subsequent legislation, regulations, court decisions, rulings, and proce-

The first Bulletin for each month includes a cumulative index

for the matters published during the preceding months.

These monthly indexes are cumulated on a semiannual basis

and are published in the first Bulletin of the succeeding semiannual period, respectively.

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

Section 472.—Last-in, First-out

Inventories

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

LIFO; price indexes; department

stores. The August 1998 Bureau of Labor

Statistics price indexes are accepted for

use by department stores employing the

retail inventory and last-in, first-out inventory methods for valuing inventories

for tax years ended on, or with reference

to, August 31, 1998.

Rev. Rul. 98–51

The following Department Store Inventory Price Indexes for August 1998 were

issued by the Bureau of Labor Statistics.

The indexes are accepted by the Internal

Revenue Service, under § 1.472–1(k) of

the Income Tax Regulations and Rev.

Proc. 86–46, 1986–2 C.B. 739, for appropriate application to inventories of department stores employing the retail inventory

and last-in, first-out inventory methods

for tax years ended on, or with reference

to, August 31, 1998.

The Department Store Inventory Price

Indexes are prepared on a national basis

and include (a) 23 major groups of departments, (b) three special combinations of

the major groups - soft goods, durable

goods, and miscellaneous goods, and (c) a

store total, which covers all departments,

including some not listed separately, except for the following: candy, food,

liquor, tobacco, and contract departments.

BUREAU OF LABOR STATISTICS, DEPARTMENT STORE

INVENTORY PRICE INDEXES BY DEPARTMENT GROUPS

(January 1941 = 100, unless otherwise noted)

Groups

Aug.

1997

Aug.

1998

Percent Change

from Aug. 1997

to Aug. 19981

1. Piece Goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2. Domestics and Draperies . . . . . . . . . . . . . . . . . . . . . . .

3. Women’s and Children’s Shoes . . . . . . . . . . . . . . . . . .

4. Men’s Shoes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5. Infants’ Wear . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6. Women’s Underwear . . . . . . . . . . . . . . . . . . . . . . . . . .

7. Women’s Hosiery . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

8. Women’s and Girls’ Accessories . . . . . . . . . . . . . . . . .

9. Women’s Outerwear and Girls’ Wear . . . . . . . . . . . . .

10. Men’s Clothing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11. Men’s Furnishings . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12. Boys’ Clothing and Furnishings . . . . . . . . . . . . . . . . .

13. Jewelry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

14. Notions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

15. Toilet Articles and Drugs . . . . . . . . . . . . . . . . . . . . . . .

16. Furniture and Bedding . . . . . . . . . . . . . . . . . . . . . . . . .

17. Floor Coverings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

18. Housewares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

19. Major Appliances . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

20. Radio and Television . . . . . . . . . . . . . . . . . . . . . . . . . .

21. Recreation and Education2 . . . . . . . . . . . . . . . . . . . . .

22. Home Improvements2 . . . . . . . . . . . . . . . . . . . . . . . . .

23. Auto Accessories2 . . . . . . . . . . . . . . . . . . . . . . . . . . . .

509.3

652.8

644.1

895.6

621.2

548.8

301.6

539.7

397.4

621.2

584.8

492.2

1008.6

793.8

904.7

661.0

598.8

806.1

242.8

75.4

110.1

132.3

108.4

555.1

630.9

656.2

910.5

616.2

579.1

306.5

548.8

399.0

621.0

594.0

498.8

981.9

767.8

940.7

679.6

601.8

809.9

238.0

71.4

103.5

131.1

107.3

9.0

–3.4

1.9

1.7

–0.8

5.5

1.6

1.7

0.4

0.0

1.6

1.3

–2.6

–3.3

4.0

2.8

0.5

–2.0

–5.3

–6.0

–0.9

–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.

October 26, 1998

1998–43 I.R.B.

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DRAFTING INFORMATION

The principal author of this revenue

ruling is Stan Michaels of the Office of

Assistant Chief Counsel (Income Tax and

Accounting). For further information regarding this revenue ruling, contact Mr.

Michaels on (202) 622-4970 (not a tollfree call).

1998–43 I.R.B.

Section 6212.—Notice of

Deficiency

26 CFR 301.6212–1. Notice of deficiency.

For instructions on how to enter into an agreement with the Service to rescind a notice of deficiency, see Rev. Proc. 98–54, page 7.

October 26, 1998

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Part II. Treaties and Tax Legislation

Subpart A.—Tax Conventions

UNITED ARAB EMIRATES

MINISTRY OF

FOREIGN AFFAIRS

ABU DHABI

DECEMBER 1, 1997

The Government of the United Arab

Emirates agrees to exempt from tax gross

income derived from the international operation of ships or aircraft by individuals

who are residents of the United States

(other than citizens of the United Arab

Emirates) and corporations which are incorporated in the United States, this exemption is granted on the basis of equivalent exemptions granted by the United

States to individual residents of the

United Arab Emirates and to corporations

organized in the United Arab Emirates.

For the purposes of exemption from the

U.S. tax, the government of the United

Arab Emirates will be treated as an individual resident of the United Arab Emirates.

In this agreement:

(A) The terms “contracting state” and

“other contracting state” mean the United

Arab Emirates or the United States of

America, the Governments of which have

concluded this agreement.

(B) Gross income includes all income

derived from the international operation

of ships or aircraft, including:

(1) Income from the rental on full

(time or voyage) basis of ships or aircraft

used in international transport.

(2) Income from the rental on a bareboat basis of ships or aircraft used in international transport.

(3) Income from the rental of containers and related equipment used in international transport that is incidental to

income from the international operation

of ships and aircraft, and

(4) Gains from the sale or other

alienation of ships or aircraft used in international transport derived by a person

primarily engaged in the international operation of ships or aircraft.

The Government of the United Arab

October 26, 1998

Emirates proposes that, if the foregoing is

acceptable to the Government of the

United States, this note and the State Department’s note in reply shall constitute

an Agreement. The Agreement shall have

effect with respect to taxable years beginning on or after January 1, 1994.

This Agreement shall continue in force

until the Government of either contracting

state gives written notice of termination

of the Agreement to the other Contracting

State through Diplomatic Channels.

The Embassy of the United States of

America presents its compliments to the

Ministry of Foreign Affairs of the United

Arab Emirates and has the honor to refer

to the Ministry’s Note No. 3/1/73/8742

dated October 7, 1997, covering a draft

note from the Ministry of Finance and Industry, which reads as follows:

BEGIN TEXT

The Government of the United Arab

Emirates agrees to exempt from tax gross

income derived from the international operation of ships or aircraft by individuals

who are residents of the United States

(other than citizens of the United Arab

Emirates) and corporations which are incorporated in the United States. This exemption is granted on the basis of equivalent exemptions granted by the United

States to individual residents of the

United Arab Emirates and to corporations

organized in the United Arab Emirates.

For the purposes of exemption from the

U.S. tax, the Government of the United

Arab Emirates will be treated as an individual resident of the United Arab Emirates.

In this agreement:

(A) The terms “contracting state” and

“other contracting state” mean the United

Arab Emirates or the United States of

America, the governments of which have

concluded this agreement.

(B) Gross income includes all income

derived from the international operation

of ships or aircraft, including:

(1) Income from the rental on full

(time or voyage) basis of ships or aircraft

used in international transport.

(2) Income from the rental on a bareboat basis of ships or aircraft used in international transport.

(3) Income from the rental of containers and related equipment used in international transport that is incidental to

income from the international operation

of ships and aircraft, and

(4) Gains from the sale or other

alienation of ships or aircraft used in international transport derived by a person

primarily engaged in the international operation of ships or aircraft.

The Government of the United Arab

Emirates proposes that, if the foregoing is

acceptable to the Government of the

United States, this note and the State Department’s note in reply shall constitute

an agreement. The agreement shall have

effect with respect to taxable years beginning on or after January 1, 1994.

This agreement shall continue in force

until the government of either contracting

state gives written notice of termination

of the agreement to the other contracting

state through diplomatic channels.

END TEXT

The Embassy, on behalf of the Government of the United States of America,

confirms its acceptance of the terms of the

Ministry’s note with the understanding

that in the case of a United Arab Emirates

corporation, the exemption from U.S. tax

shall apply only if the corporation meets

the ownership or public trading requirements of U.S. law. Therefore, the Ministry’s note and this note in reply constitute an agreement which shall enter into

force on December 1, 1997, and shall

have effect with respect to taxable years

beginning on or after January 1, 1994.

This agreement shall continue in force

until the government of either contracting

state gives written notice of termination

of the agreement to the other contracting

party through diplomatic channels.

The Embassy of the United States of

America avails itself of this opportunity to

renew to the Ministry of Foreign Affairs

the assurances of its highest consideration.

1998–43 I.R.B.

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Part III. Administrative, Procedural, and Miscellaneous

26 CFR 601.105: Examination of returns and

claims 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 taxpayers with instructions for entering into

an agreement with the Internal Revenue

Service under § 6212(d) of the Internal

Revenue Code to rescind a notice of deficiency. 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 the

Secretary determines that there is a deficiency in respect of any tax imposed by

subtitle A of title 26 (relating to income

taxes), subtitle B (relating to estate, gift,

and generation-skipping taxes), or chapters 41, 42, 43, or 44 (relating to certain

excise taxes), the Secretary is authorized

to send a notice of the deficiency to the

taxpayer by certified mail or registered

mail.

.02 Section 6212(c)(1) provides, in

general, that if the Secretary has mailed to

the taxpayer a notice of deficiency as provided in § 6212(a), and the taxpayer files

a petition with the Tax Court within the

time prescribed in § 6213(a), the Secretary has no right to determine any additional deficiency, except in the case of

fraud, and except as provided in § 6214(a)

(relating to assertion of greater deficiencies before the Tax Court), in

§ 6213(b)(1) (relating to mathematical or

clerical errors), in § 6851 or 6852 (relating to termination assessments), or in

§ 6861(c) (relating to jeopardy assessments).

.03 Section 6213(a) states that within

90 days, or 150 days if the notice is addressed to a person outside the United

States, after the notice of deficiency authorized in § 6212 is mailed, the taxpayer

may file a petition with the Tax Court for

a redetermination of the deficiency. Except as provided in § 6851, 6852, or 6861,

no assessment of a deficiency and no levy

or proceeding in court for its collection

can be made, begun, or prosecuted until

1998–43 I.R.B.

the notice has been mailed to the taxpayer, nor until the expiration of the 90day or 150-day restriction period, as the

case may be, nor, if a petition has been

filed with the Tax Court, until the decision

of the Tax Court has become final. Under

§ 6213(d), a taxpayer may waive these restrictions at any time.

.04 Section 6501 provides generally

that the amount of any tax imposed by

title 26 must be assessed within 3 years

after the return was filed. Section 6503(a)

provides that the running of the period of

limitations in § 6501 is suspended (after

the mailing of a notice under § 6212(a))

for the period during which the Secretary

is prohibited from making the assessment

or from collecting by levy or a proceeding

in court, and for 60 days thereafter.

.05(1) Section 6212(d) provides that

the Secretary may, with the consent of the

taxpayer, rescind any notice of deficiency

mailed 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 restricted), § 6213(a) (relating to restrictions applicable to deficiencies and petition to Tax Court), and § 6512(a) (relating

to limitations in case of petition to Tax

Court), and the taxpayer has no right to

file a petition with the Tax Court based on

the notice.

(2) The Technical and Miscellaneous Revenue Act of 1988 (Act),

§ 1015(m), 1988–3 C.B. 232, amended

§ 6212(d) by adding the following sentence: “Nothing in this subsection shall

affect any suspension of the running of

any period of limitations during any period during which the rescinded notice

was outstanding.” This amendment is effective for notices of deficiency issued on

or after January 1, 1986.

(3) The House Report accompanying the Act provides the following example to illustrate the operation of the final

sentence of § 6212(d):

[A]ssume that six months remain to

run on the statute of limitations with

respect to a return when the IRS issues a statutory notice of deficiency.

Issuance of this notice suspends the

statute of limitations. If the IRS and

the taxpayer agree to rescind the

statutory notice, then as of the date

the notice is rescinded, the statute of

limitations 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 CHANGES

AND CLARIFICATIONS TO REV.

PROC. 88–17

.01 Section 3.05(1) of Rev. Proc.

88–17 provides, in part, that the Service

will not rescind a notice of deficiency if,

on the date of rescission, the period of

limitations on assessment would have expired but for the issuance of the notice of

deficiency. This provision is deleted as a

result of the 1988 amendment to

§ 6212(d), which clarifies that a notice of

deficiency that is subsequently rescinded

suspends the period of limitations until

the date of its rescission. See section

4.05(1) of this revenue procedure.

.02 Section 3.05(4) of Rev. Proc. 88–

17 provides that the Service will not rescind a notice of deficiency if, prior to the

issuance of the notice of deficiency, the

taxpayer and the Service have executed a

Form 872–A, Special Consent to Extend

the Time to Assess Tax, covering any of

the tax years in the notice of deficiency.

This provision is modified to permit

rescission, provided the taxpayer and the

Service execute another Form 872–A

prior to rescission). See section 4.05(4)

of this revenue procedure.

.03 Section 4.03 of Rev. Proc. 88–17 is

clarified to provide that the Service may

initiate rescission of a notice of deficiency). See section 5.03 of this revenue

procedure.

.04 In lieu of using a Form 8626,

Agreement to Rescind Notice of Deficiency, the use of an alternative document

is authorized for rescission of a notice of

deficiency). See section 5.06 of this revenue procedure.

SECTION 4. SCOPE AND OBJECTIVE

.01 This revenue procedure applies to

agreements to rescind a notice of deficiency mailed to a taxpayer pursuant to §

6212(a). This procedure does not apply

to a Notice of Final Partnership Administrative Adjustment (FPAA) or to a Notice

October 26, 1998

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of Final S Corporation Administrative

Adjustment (FSAA).

.02 Whether a notice of deficiency will

be rescinded is discretionary on the part

of the Secretary. A notice of deficiency

may only be rescinded with the consent of

the taxpayer.

.03 If a notice of deficiency is rescinded, it is generally treated as if it

never existed. Limitations regarding

credits, refunds, and assessments relating

to the rescinded notice are void and the

rights and obligations of the parties that

existed prior to the issuance of the notice

of deficiency are reinstated. The rescinded notice does, however, suspend the

running of the period of limitations under

§ 6503 for the period during which the

notice is outstanding. The Commissioner

or the Commissioner’s delegate may issue

a later notice of deficiency in an amount

that exceeds, is the same as, or is less than

the amount in the rescinded notice of deficiency. The taxpayer may exercise all administrative and statutory appeal rights

from a reissued notice of deficiency, but

cannot petition the Tax Court from a rescinded notice of deficiency.

.04 Except as provided in section 4.05

of this revenue procedure, a notice of deficiency may be rescinded for the following reasons:

(1) The notice was issued as a result

of an administrative error: for example,

the notice was issued (a) to the wrong taxpayer, (b) for the wrong tax period, or (c)

without considering a properly executed

Form 872, Consent to Extend the Time to

Assess Tax, or Form 872–A;

(2) The taxpayer submits information establishing the actual tax due is less

than the amount shown in the notice; or

(3) The taxpayer specifically requests a conference with the appropriate

Appeals office for the purpose of entering

into settlement negotiations. However,

the notice may be rescinded only if the

appropriate Appeals office first decides

that the case is susceptible to agreement.

.05 The Service will not rescind a notice of deficiency under the following circumstances:

(1) On the date of the rescission, 90

days or less would remain before the expiration date of the period of limitations

on assessment. However, a notice of deficiency may be rescinded in these circumstances if, before the rescission, the tax-

October 26, 1998

payer and the Service execute a consent to

extend the period of limitations on Form

872 or Form 872–A;

(2) The 90-day or 150-day restriction

period under § 6213(a) has expired without the taxpayer filing a petition with the

Tax Court;

(3) The taxpayer has filed a petition

with the Tax Court; or

(4) The taxpayer and the Service,

prior to the issuance of the notice of deficiency, have executed a Form 872–A covering any of the tax years in the notice of

deficiency. A notice of deficiency may be

rescinded in this situation, however, if

prior to rescinding the notice of deficiency the taxpayer and the Service execute a new Form 872–A covering the

same tax years as the earlier Form 872–A.

SECTION 5. PROCEDURE

.01 Taxpayers that wish to have a notice of deficiency rescinded should contact the person/office listed on the notice

and request Form 8626. Taxpayers that

wish an Appeals conference (see section

4.04(3) of this revenue procedure) should

contact the person/office listed on the notice to find out how to contact the appropriate Appeals Office.

.02 A request to rescind a notice of deficiency should be made by the taxpayer

as soon as possible after receipt of the notice because a notice will not be rescinded

after the 90-day or 150-day restriction period under § 6213(a) has expired.

.03 If the Service determines that a notice of deficiency should be rescinded, the

Service will send Form 8626 to the taxpayer requesting the taxpayer’s written

consent to rescind. If appropriate, Form

872 or Form 872–A will also be sent for

the taxpayer’s signature. If the taxpayer

agrees to the rescission of the notice of

deficiency, the signed Form 8626 (and

Form 872 or Form 872–A if appropriate)

must be returned to the office that sent the

Form 8626 as soon as possible, prior to

the expiration of the applicable 90-day or

150-day restriction period. After the

Form 8626 is returned by the taxpayer

and signed on behalf of the Commissioner, a copy will be sent to the taxpayer

(and/or the taxpayer’s authorized representative(s)). The effective date of the

rescission agreement is the date on which

the Commissioner’s delegate signs Form

8626.

.04 If the notice of deficiency was issued to a husband and wife jointly, Form

8626 and, if appropriate, Form 872 or

Form 872-A, must be signed by both the

husband and wife, or their authorized representative(s). If Form 8626 and/or Form

872 or Form 872–A is signed by a representative, and a power of attorney has not

previously been filed, the power of attorney must be included with Form 8626.

.05 Form 8626 must cover the same

tax period(s) as the notice of deficiency to

which it relates and must reflect the same

tax deficiency and penalties as the notice

of deficiency.

.06 Although use of Form 8626 is preferred, a document that reflects agreement

by the taxpayer and the Service to rescind

the notice of deficiency, pursuant to

§ 6212(d), may be used in lieu of Form

8626. Such a document will not be effective unless it contains the following:

(1) a statement that the taxpayer and

the Commissioner’s delegate agree to rescind the notice of deficiency;

(2) identification of the notice of deficiency, including the date it was issued,

the type of tax, the tax period(s), and the

amount(s) of the deficiency or deficiencies and any penalties;

(3) representations that the period of

limitations on assessment has not expired

and that the taxpayers have not petitioned

the Tax Court;

(4) an agreement that the effect of

the rescission is to return the parties to the

rights and obligations existing immediately prior to the issuance of the rescinded

notice of deficiency, including the right of

the Service to issue a later notice of deficiency, for any amount, and the right of

the taxpayer then to appeal to the Tax

Court; and

(5) the signatures (on the same document) of both the Commissioner’s delegate and the taxpayer (or the taxpayer’s

representative). If the document is signed

by the taxpayer’s representative, and a

power of attorney has not previously been

filed, the power of attorney must be included with the document.

.07 A properly executed Form 8626 (or

a document as provided in section 5.06 of

this revenue procedure) is the only way

that a notice of deficiency may be rescinded.

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.08 If the Service does not agree that

the notice of deficiency should be rescinded, the taxpayer will be so notified in

writing, and the notice of deficiency will

remain in effect. If the taxpayer wishes to

file a petition with the Tax Court, the taxpayer must file the petition within the applicable 90-day or 150-day restriction period,

which

may

not

extended.

1998–43 I.R.B.

SECTION 6. EFFECT ON OTHER

REVENUE PROCEDURES

Rev. Proc. 88–17, 1988–1 C.B. 692, is

clarified, modified, and superseded.

SECTION 7. EFFECTIVE DATE

This revenue procedure is effective

with respect to notices of deficiency issued on or after January 1, 1986.

DRAFTING INFORMATION

The principal author of this revenue

procedure is Catherine A. Prohofsky of

the Office of Assistant Chief Counsel (Income Tax and Accounting). For further

information regarding this revenue procedure, contact Andrew Irving on (202)

622-4930 (not a toll-free call).

October 26, 1998

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Part IV. Items of General Interest

Information Reporting with

Respect to Certain Foreign

Partnerships

Announcement 98–93

The Internal Revenue Service announces that it is requesting comments

from the public on proposed new Form

8865 and its accompanying instructions.

The form is to be used to satisfy the reporting requirements with respect to certain foreign partnerships under sections

6038, 6038B, and 6046A. Attached to

this announcement is a copy of the proposed form and instructions.

BACKGROUND

The Taxpayer Relief Act of 1997 (TRA

97), Pub. L. No. 105–34, 111 Stat. 983

(1997), significantly modified the information reporting requirements with respect to foreign partnerships under sections 6038, 6038B, and 6046A. On

September 9, 1998, the Service published

October 26, 1998

in the Federal Register proposed regulations §§ 1.6038–3, 1.6038B–2, and

1.6046A–1. These regulations would implement the new foreign partnership reporting regime put in place by TRA 97.

The proposed regulations provide that the

information required to be reported pursuant to sections 6038, 6038B, and 6046A

must be reported on Form 8865, Information Return of U.S. Persons with Respect

to Certain Foreign Partnerships. Treasury

and the Service have requested comments

regarding the proposed regulations and

have scheduled a public hearing on the

proposed regulations for November 10,

1998. The hearing will be held in room

2615, Internal Revenue Building, 1111

Constitution Avenue, NW, Washington,

DC.

REQUEST FOR COMMENTS ON THE

FORM

Comments about proposed Form 8865

and its instructions may be made in writing and at the November 10, 1998 hear-

ing. Treasury and the Service are particularly interested in receiving comments on

whether the form’s requirements are burdensome, and, if they are, how the burden

might be ameliorated while still protecting the interests of the government and

carrying out the purposes of the statute.

Treasury and the Service also are interested in receiving comments on whether

any of the information required by the

form is duplicative of information reported elsewhere and whether any of the

information required by the form is unnecessary. Outlines of comments regarding the proposed form that will be made at

the hearing must be received by November 6, 1998.

Written comments about the form and

instructions should be sent to: Chairman,

Tax Forms Coordinating Committee, Internal Revenue Service, OP:FS:FP, Room

5577, 1111 Constitution Avenue, NW,

Washington, DC 20224. Alternatively,

you may e-mail your comments to tfpmail@publish.no.irs.gov.

1998–43 I.R.B.

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October 26, 1998

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Foundations Status of Certain

Organizations

Announcement 98–94

The following organizations have

failed to establish or have been unable to

maintain their status as public charities or

as operating foundations. Accordingly,

grantors and contributors may not, after

this date, rely on previous rulings or designations in the Cumulative List of Organizations (Publication 78), or on the presumption arising from the filing of

notices under section 508(b) of the Code.

This listing does not indicate that the organizations have lost their status as organizations described in section 501(c)(3),

eligible to receive deductible contributions.

Former Public Charities. The following

organizations (which have been treated as

organizations that are not private foundations described in section 509(a) of the

Code) are now classified as private foundations:

October 26, 1998

Asociacion de Salud Rural, Chicago, IL

Brookline Housing Corporation,

Brookline, MA

Chicago Law Foundation, The,

Chicago, IL

Dominican Family Institute, Inc., New

York, NY

Domov Corporation, The, Ganado, TX

Film Project for Womens History and

Future, The, Chicago, IL

Inner Strength Ministry, Jackson, MI

Kind Foundation Inc., Sterling, NJ

Pacific Asia Council of Indigenous

Peoples – Hawaii, Waianae, HI

Pathfinders for Positive Parenting and

Nurturing of the Black Family,

Birmingham, AL

Pro SE Today, Inc., Oshkosh, WI

Runestone Museum Foundation,

Alexandria, MN

Tuesday Morning Inc., Brookfield, IL

Utah Quilt Heritage Corporation, Draper,

Victims Have Rights Too, Inc., Atlanta,

West Shore Gymnastics Parents Assoc.,

Holland, MI

If an organization listed above submits

information that warrants the renewal of

its classification as a public charity or as a

private operating foundation, the Internal

Revenue Service will issue a ruling or determination letter with the revised classification as to foundation status. Grantors

and contributors may thereafter rely upon

such ruling or determination letter as provided in section 1.509(a)–7 of the Income

Tax Regulations. It is not the practice of

the Service to announce such revised classification of foundation status in the Internal Revenue Bulletin.

1998–43 I.R.B.

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Announcement of the Disbarment and Suspension of Attorneys, Certified

Public Accountants, Enrolled Agents, and Enrolled Actuaries From

Practice Before the Internal Revenue Service

Under 330, Title 31 of the United

States Code, the Secretary of the Treasury, after due notice and opportunity for

hearing, is authorized to suspend or disbar from practice before the Internal Revenue Service any person who has violated the rules and regulations governing

the recognition of attorneys, certified

public accountants, enrolled agents, or

enrolled actuaries to practice before the

Internal Revenue Service.

Attorneys, certified public accountants,

enrolled agents, and enrolled actuaries are

prohibited in any Internal Revenue Service

matter from directly or indirectly employ-

ing, accepting assistance from, being employed by, or sharing fees with, any practitioner disbarred or suspended from practice before the Internal Revenue Service.

To enable attorneys, certified public accountants, enrolled agents, and enrolled

actuaries to identify such disbarred or suspended practitioners, the Director

of Practice will announce in the Internal

Revenue Bulletin the names and addresses of practitioners who have been

suspended from such practice, their designation as attorney, certified public accountant, enrolled agent, or enrolled actuary, and date or period of suspension. This

announcement will appear in the weekly

Bulletin at the earliest practicable date

after such action and will continue to appear in the weekly Bulletins for five successive weeks or for as many weeks as is

practicable for each attorney, certified

public accountant, enrolled agent, or enrolled actuary so suspended or disbarred

and will be consolidated and published in

the Cumulative Bulletin.

After due notice and opportunity for

hearing before an administrative law

judge, the following individuals have

been disbarred from further practice before the Internal Revenue Service:

Name

Address

Designation

Effective Date

Galt, Edward G.

Lopez, Andrew L.

Branch, Jimmie L.

Harrison, Rebecca A.

Mayer, Robert J.

Monterey, CA

Albuquerque, NM

Jacksonville, FL

Carmichael, CA

Wexford, PA

CPA

Enrolled Agent

CPA

October 25, 1997

December 11, 1997

January 15, 1998

March 4, 1998

June 4, 1998

1998–43 I.R.B.

October 26, 1998

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Announcement of the Expedited Suspension of Attorneys, Certified Public

Accountants, Enrolled Agents, and Enrolled Actuaries From Practice

Before the Internal Revenue Service

Under title 31 of the Code of Federal

Regulations, section 10.76, the Director

of Practice is authorized to immediately

suspend from practice before the Internal

Revenue Service any practitioner who,

within five years from the date the expedited proceeding is instituted, (1) has had

a license to practice as an attorney, certified public accountant, or actuary suspended or revoked for cause; or (2) has

been convicted of any crime under title 26

of the United States Code or, of a felony

under title 18 of the United States Code

involving dishonesty or breach of trust.

Attorneys, certified public accountants,

enrolled agents, and enrolled actuaries are

prohibited in any Internal Revenue Service

matter from directly or indirectly employing, accepting assistance from, being employed by, or sharing fees with, any practitioner disbarred or suspended from practice

before the Internal Revenue Service.

To enable attorneys, certified public accountants, enrolled agents, and enrolled actuaries to identify practitioners under expedited suspension from practice before the

Internal Revenue Service, the Director of

Practice will announce in the Internal Revenue Bulletin the names and addresses of

practitioners who have been suspended

from such practice, their designation as attorney, certified public accountant, en-

rolled agent, or enrolled actuary, and date

or period of suspension. This announcement will appear in the weekly Bulletin at

the earliest practicable date after such action and will continue to appear in the

weekly Bulletins for five successive weeks

or for as many weeks as is practicable for

each attorney, certified public accountant,

enrolled agent, or enrolled actuary so suspended and will be consolidated and published in the Cumulative Bulletin.

The following individuals have been

placed under suspension from practice before the Internal Revenue Service by virtue

of the expedited proceeding provisions of

the applicable regulations:

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

October 26, 1998

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Announcement of the Consent Voluntary Suspension of Attorneys,

Certified Public Accountants, Enrolled Agents, and Enrolled Actuaries

From Practice Before the Internal Revenue Service

Under 31 Code of Federal Regulations,

Part 10, an attorney, certified public accountant, enrolled agent, or enrolled actuary, in order to avoid the institution or

conclusion of a proceeding for his disbarment or suspension from practice before

the Internal Revenue Service, may offer

his consent to suspension from such practice. The Director of Practice, in his discretion, may suspend an attorney, certified public accountant, enrolled agent, or

enrolled actuary in accordance with the

consent offered.

Attorneys, certified public accountants,

enrolled agents, and enrolled actuaries are

prohibited in any Internal Revenue Ser-

vice matter from directly or indirectly employing, accepting assistance from, being

employed by, or sharing fees with any

practitioner disbarred or suspended from

practice before the Internal Revenue Service.

To enable attorneys, certified public accountants, enrolled agents, and enrolled

actuaries to identify practitioners under

consent suspension from practice before the

Internal Revenue Service, the Director

of Practice will announce in the Internal

Revenue Bulletin the names and addresses of practitioners who have been

suspended from such practice, their designation as attorney, certified public ac-

countant, enrolled agent, or enrolled actuary, and date or period of suspension. This

announcement will appear in the weekly

Bulletin at the earliest practicable date

after such action and will continue to appear in the weekly Bulletins for five successive weeks or for as many weeks as is

practicable for each attorney, certified

public accountant, enrolled agent, or enrolled actuary so suspended and will be

consolidated and published in the Cumulative Bulletin.

The following individuals have been

placed under consent suspension from

practice before the Internal Revenue Service:

Name

Address

Designation

Date of Suspension

Makula, John G.

Slomski, Michael

Bozeman Jr., T. Alvin

Parness, Richard A.

Cooper, Michael E.

Minello, Michael J.

Holden, William W.

Freeman, Samuel

Anders, Kevin

Breed, Robert M.

Sandirk, Paula Brooks

Neuhaus Jr., George

Park Ridge, IL

Gross Pointe Woods, MI

Sylvester, GA

Westfield, NJ

Havana, FL

Edina, MN

Clarks Summit, PA

Fairfield, CT

Bedford, NH

Williamport, MD

Concord, MA

Chehalis, WA

Brewster, NY

CPA

April 1, 1998 to March 31, 2003

April 1, 1998 to March 31, 2001

May 22, 1998 to November 21, 1999

June 1, 1998 to December 31, 1998

Indefinite from July 10, 1998

August 19, 1998 to February 18, 1999

August 28, 1998 to April 27, 2001

September 1, 1998 to March 31, 1999

September 1, 1998 to August 31, 1999

September 1, 1998 to August 31, 2001

September 1, 1998 to February 28, 2001

November 1, 1998 to April 30, 2000

1998–43 I.R.B.

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Definition of Terms

Revenue rulings and revenue procedures

(hereinafter referred to as “rulings”) that

have an effect on previous rulings use the

following defined terms to describe the

effect:

Amplified describes a situation where

no change is being made in a prior published position, but the prior position is

being extended to apply to a variation of

the fact situation set forth therein. Thus,

if an earlier ruling held that a principle

applied to A, and the new ruling holds

that the same principle also applies to B,

the earlier ruling is amplified. (Compare

with modified, below).

Clarified is used in those instances

where the language in a prior ruling is

being made clear because the language

has caused, or may cause, some confusion. It is not used where a position in a

prior ruling is being changed.

Distinguished describes a situation

where a ruling mentions a previously

published ruling and points out an essential difference between them.

Modified is used where the substance

of a previously published position is

being changed. Thus, if a prior ruling

held that a principle applied to A but not

to B, and the new ruling holds that it ap-

plies to both A and B, the prior ruling is

modified because it corrects a published

position. (Compare with amplified and

clarified, above).

Obsoleted describes a previously published ruling that is not considered determinative with respect to future transactions. This term is most commonly used

in a ruling that lists previously published

rulings that are obsoleted because of

changes in law or regulations. A ruling

may also be obsoleted because the substance has been included in regulations

subsequently adopted.

Revoked describes situations where the

position in the previously published ruling is not correct and the correct position

is being stated in the new ruling.

Superseded describes a situation where

the new ruling does nothing more than restate the substance and situation of a previously published ruling (or rulings).

Thus, the term is used to republish under

the 1986 Code and regulations the same

position published under the 1939 Code

and regulations. The term is also used

when it is desired to republish in a single

ruling a series of situations, names, etc.,

that were previously published over a period of time in separate rulings. If the

new ruling does more than restate the

substance of a prior ruling, a combination

of terms is used. For example, modified

and superseded describes a situation

where the substance of a previously published ruling is being changed in part and

is continued without change in part and it

is desired to restate the valid portion of

the previously published ruling in a new

ruling that is self contained. In this case

the previously published ruling is first

modified and then, as modified, is superseded.

Supplemented is used in situations in

which a list, such as a list of the names of

countries, is published in a ruling and

that list is expanded by adding further

names in subsequent rulings. After the

original ruling has been supplemented

several times, a new ruling may be published that includes the list in the original

ruling and the additions, and supersedes

all prior rulings in the series.

Suspended is used in rare situations to

show that the previous published rulings

will not be applied pending some future

action such as the issuance of new or

amended regulations, the outcome of

cases in litigation, or the outcome of a

Service study.

Abbreviations

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.

The following abbreviations in current use and formerly used will appear in material published in the

Bulletin.

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.

October 26, 1998

1998–43 I.R.B.

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Numerical Finding List1

Proposed Regulations—Continued

Bulletins 1998–29 through 42

REG–119227–97, 1998–30 I.R.B. 13

REG–122488–97, 1998–42 I.R.B. 19

REG–101363–98, 1998–40 I.R.B. 10

REG–106221–98, 1998–41 I.R.B. 10

REG–110332–98, 1998–33 I.R.B. 18

REG–110403–98, 1998–29 I.R.B. 11

REG–115393–98, 1998–39 I.R.B. 34

Announcements:

98–62, 1998–29 I.R.B. 13

98–68, 1998–29 I.R.B. 14

98–69, 1998–30 I.R.B. 16

98–70, 1998–30 I.R.B. 17

98–71, 1998–30 I.R.B. 17

98–72, 1998–31 I.R.B. 14

98–73, 1998–31 I.R.B. 14

98–74, 1998–31 I.R.B. 15

98–75, 1998–31 I.R.B. 15

98–76, 1998–32 I.R.B. 64

98–77, 1998–34 I.R.B. 30

98–78, 1998–34 I.R.B. 30

98–79, 1998–34 I.R.B. 31

98–80, 1998–34 I.R.B. 32

98–81, 1998–36 I.R.B. 35

98–82, 1998–35 I.R.B. 17

98–83, 1998–36 I.R.B. 36

98–84, 1998–38 I.R.B. 30

98–85, 1998–38 I.R.B. 30

98–86, 1998–38 I.R.B. 31

98–87, 1998–40 I.R.B. 11

98–88, 1998–41 I.R.B. 14

98–89, 1998–40 I.R.B. 11

98–90, 1998–42 I.R.B. 22

98–91, 1998–40 I.R.B. 12

98–92, 1998–41 I.R.B. 15

Court Decisions:

2063, 1998–36 I.R.B. 13

2064, 1998–37 I.R.B. 4

2065, 1998–39 I.R.B. 7

Notices:

98–36, 1998–29 I.R.B. 8

98–37, 1998–30 I.R.B. 13

98–38, 1998–34 I.R.B. 7

98–39, 1998–33 I.R.B. 11

98–40, 1998–35 I.R.B. 7

98–41, 1998–33 I.R.B. 12

98–42, 1998–33 I.R.B. 12

98–43, 1998–33 I.R.B. 13

98–44, 1998–34 I.R.B. 7

98–45, 1998–35 I.R.B. 7

98–46, 1998–36 I.R.B. 21

98–47, 1998–37 I.R.B. 8

98–48, 1998–39 I.R.B. 17

98–49, 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. 24

REG–209060–86, 1998–39 I.R.B. 18

REG–209769–95, 1998–41 I.R.B. 8

REG–209813–96, 1998–35 I.R.B. 9

REG–246256–96, 1998–34 I.R.B. 9

REG–104641–97, 1998–29 I.R.B. 9

REG–104565–97, 1998–39 I.R.B. 21

REG–106177–97, 1998–37 I.R.B. 33

REG–115446–97, 1998–36 I.R.B. 23

REG–116608–97, 1998–29 I.R.B. 12

REG–118926–97, 1998–39 I.R.B. 23

REG–118966–97, 1998–39 I.R.B. 29

Revenue Procedures:

98–40, 1998–32 I.R.B. 6

98–41, 1998–32 I.R.B. 7

98–42, 1998–28 I.R.B. 9

98–43, 1998–29 I.R.B. 8

98–44, 1998–32 I.R.B. 11

98–45, 1998–34 I.R.B. 8

98–46, 1998–36 I.R.B. 21

98–47, 1998–37 I.R.B. 8

98–48, 1998–38 I.R.B. 7

98–49, 1998–37 I.R.B. 9

98–50, 1998–38 I.R.B. 8

98–51, 1998–38 I.R.B. 20

98–52, 1998–37 I.R.B. 12

98–53, 1998–40 I.R.B. 9

Revenue Rulings:

98–34, 1998–31 I.R.B. 12

98–35, 1998–30 I.R.B. 4

98–36, 1998–31 I.R.B. 6

98–37, 1998–32 I.R.B. 5

98–38, 1998–32 I.R.B. 4

98–39, 1998–33 I.R.B. 4

98–40, 1998–33 I.R.B. 4

98–41, 1998–35 I.R.B. 6

98–42, 1998–35 I.R.B. 5

98–43, 1998–36 I.R.B. 9

98–44, 1998–37 I.R.B. 4

98–45, 1998–38 I.R.B. 4

98–46, 1998–39 I.R.B. 10

98–47, 1998–39 I.R.B. 4

98–48, 1998–39 I.R.B. 6

98–49, 1998–40 I.R.B. 4

98–50, 1998–40 I.R.B. 7

Treasury Decisions:

8771, 1998–29 I.R.B. 6

8772, 1998–31 I.R.B. 8

8773, 1998–29 I.R.B. 4

8774, 1998–30 I.R.B. 5

8775, 1998–31 I.R.B. 4

8776, 1998–33 I.R.B. 6

8777, 1998–34 I.R.B. 4

8778, 1998–36 I.R.B. 4

8779, 1998–36 I.R.B. 11

8780, 1998–39 I.R.B. 14

8781, 1998–40 I.R.B. 4

8782, 1998–41 I.R.B. 5

8783, 1998–41 I.R.B. 4

8784, 1998–42 I.R.B. 4

8785, 1998–42 I.R.B. 5

1 A cumulative list of all revenue rulings, revenue

procedures, Treasury decisions, etc., published in

Internal Revenue Bulletins 1998–1 through 1998–28

will be found in Internal Revenue Bulletin 1998–29,

dated July 20, 1998.

1998–43 I.R.B.

October 26, 1998

IRB 1998-43

10/21/98 4:44 PM

Page 38

Finding List of Current Action on

Previously Published Items1

Revenue Rulings—Continued

76–562

Obsoleted by

98–37, 1998–32 I.R.B. 5

77–214

Obsoleted by

98–37, 1998–32 I.R.B. 5

94–5

Obsoleted by

98–37, 1998–32 I.R.B. 5

87–13

Modified by

98–49, 1998–38 I.R.B. 5

87–16

Modified by

98–49, 1998–38 I.R.B. 5

79–106

Obsoleted by

98–37, 1998–32 I.R.B. 5

94–30

Obsoleted by

98–37, 1998–32 I.R.B. 5

83–113

Obsoleted by

98–37, 1998–32 I.R.B. 5

94–51

Obsoleted by

98–37, 1998–32 I.R.B. 5

Revenue Procedures:

85–143

Obsoleted by

98–37, 1998–32 I.R.B. 5

94–79

Obsoleted by

98–37, 1998–32 I.R.B. 5

95–2

Obsoleted by

98–37, 1998–32 I.R.B. 5

Bulletins 1998–29 through 42

*Denotes entry since last publication

Notices:

83–58

Obsoleted by

98–37, 1998–32 I.R.B. 5

97–60

Superseded by

98–50, 1998–38 I.R.B. 8

97–61

Superseded by

98–51, 1998–38 I.R.B. 20

98–14

Modified by

98–53, 1998–40 I.R.B. 9

Revenue Rulings:

57–271

Obsoleted by

98–37, 1998–32 I.R.B. 5

67–301

Modified by

98–41, 1998–35 I.R.B. 6

70–225

Obsoleted by

98–44, 1998–37 I.R.B. 4

71–277

Obsoleted by

98–37, 1998–32 I.R.B. 5

71–434

Obsoleted by

98–37, 1998–32 I.R.B. 5

71–574

Obsoleted by

98–37, 1998–32 I.R.B. 5

72–75

Obsoleted by

98–37, 1998–32 I.R.B. 5

72–120

Obsoleted by

98–37, 1998–32 I.R.B. 5

72–121

Obsoleted by

98–37, 1998–32 I.R.B. 5

72–122

Obsoleted by

98–37, 1998–32 I.R.B. 5

74–77

Obsoleted by

98–37, 1998–32 I.R.B. 5

75–19

Obsoleted by

98–37, 1998–32 I.R.B. 5

88–8

Obsoleted by

98–37, 1998–32 I.R.B. 5

88–76

Obsoleted by

98–37, 1998–32 I.R.B. 5

88–79

Obsoleted by

98–37, 1998–32 I.R.B. 5

94–6

Obsoleted by

98–37, 1998–32 I.R.B. 5

95–9

Obsoleted by

98–37, 1998–32 I.R.B. 5

97–37

Obsoleted by

98–39, 1998–33 I.R.B. 4

93–4

Obsoleted by

98–37, 1998–32 I.R.B. 5

93–5

Obsoleted by

98–37, 1998–32 I.R.B. 5

93–6

Obsoleted by

98–37, 1998–32 I.R.B. 5

93–30

Obsoleted by

98–37, 1998–32 I.R.B. 5

93–38

Obsoleted by

98–37, 1998–32 I.R.B. 5

93–49

Obsoleted by

98–37, 1998–32 I.R.B. 5

93–50

Obsoleted by

98–37, 1998–32 I.R.B. 5

93–53

Obsoleted by

98–37, 1998–32 I.R.B. 5

93–81

Obsoleted by

98–37, 1998–32 I.R.B. 5

93–91

Obsoleted by

98–37, 1998–32 I.R.B. 5

93–92

Obsoleted by

98–37, 1998–32 I.R.B. 5

93–93

Obsoleted by

98–37, 1998–32 I.R.B. 5

1 A cumulative finding list for previously published

items mentioned in Internal Revenue Bulletins

1998–1 through 1998–28 will be found in Internal

Revenue Bulletin 1998–29, dated July 20, 1998.

October 26, 1998

1998–43 I.R.B.

IRB 1998-43

10/21/98 4:45 PM

Page 39

IRB 1998-43

10/21/98 4:45 PM

Page 40

INTERNAL REVENUE BULLETIN

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

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