SECTION 14. EFFECT ON OTHER

DOCUMENTS

.01 Modified and superseded. Rev. Procs. 96–31, 1996–1 C.B. 714; 95–33, 1995–2 C.B. 380; 94–29, 1994–1 C.B. 616; 92–98, 1992–2 C.B. 512; 92–97, 1992–2 C.B. 510; 92–79, 1992–2 C.B. 457; 92–75, 1992–2 C.B. 448; 92–74, 1992–2 C.B. 442; 90–63, 1990–2 C.B. 664; 90–37, 1990–2 C.B. 361; 89–46, 1989–2 C.B. 597; 88–15, 1988–1 C.B. 683; 84–76, 1984–2 C.B. 751; and 74–11, 1974–1 C.B. 420; and Notice 95–57, 1995–2 C.B. 337; are modified, and as modified, are superseded.

.02 Obsoleted. The following revenue procedures are obsoleted:

(1) Rev. Proc. 85–8, 1985–1 C.B. 495 (a revenue procedure that allows a taxpayer to change its method of accounting for bad debts);

(2) Rev. Proc. 84–30, 1984–1 C.B. 482 (a revenue procedure that allows a taxpayer to change its method of accounting for interest on certain consumer loans from the Rule of 78’s method to the economic accrual method);

(3) Rev. Proc. 84–29, 1984–1 C.B. 480 (a revenue procedure that provides a

simplified procedure for an individual borrower to use to compute interest deductions for certain loans if the taxpayer has been reporting interest deductions on these loans based on the Rule of 78’s method);

(4) Rev. Proc. 84–28, 1984–1 C.B. 475 (a revenue procedure that allows a taxpayer to change its method of accounting for interest from the Rule of 78’s method to the economic accrual method, but only for those loans in which the interest computed using the Rule of 78’s method exceeds the loan payments during any year of the term of the loan);

(5) Rev. Proc. 84–27, 1984–1 C.B. 469 (a revenue procedure that allows a taxpayer to change its method of accounting for interest from the Rule of 78’s method to the economic accrual method); and

(6) Rev. Proc. 83–40, 1983–1 C.B. 774 (a revenue procedure that allows a taxpayer to use the Rule of 78’s method to compute interest on certain short-term consumer loans).