Part IV. Items — Internal Revenue Bulletin 1998-44

Announcement 98–95

Revisions to Form 8857

Purpose The purpose of this announcement is to request public comments on the revised Form 8857, Request for Innocent Spouse Relief (And Allocation of Liability and Equitable Relief). Form 8857 is being revised to reflect section 3201 of the IRS Restructuring and Reform Act of 1998.

Note: The revised Form 8857 in this announcement is subject to change and OMB approval before final release.

Revisions to Form The revisions include the following: 8857

The requirement that filers need to have over $500 of additional tax due in order to request relief is

eliminated.

Procedures are provided for requesting innocent spouse relief, allocation of liability, and equitable

relief.

Explanations of the law changes and types of relief are added to the instructions.

Benefits of the The revised Form 8857 will: revisions

Help filers become aware of the new tax law.
Provide filers a means to request the various types of relief.
Help filers by providing simple explanations of the new tax law and guidance for completing the

form.

Allow the IRS to improve control and processing of the requests by highlighting the Cincinnati Service Center filing address.

Comments requested The IRS would like to receive comments on the proposed revisions to Form 8857 from interested parties by November 30, 1998. Send written comments to:

Chairman, Tax Forms Coordinating Committee Internal Revenue Service, OP:FS:FP, Room 5577 1111 Constitution Avenue, NW Washington, D.C. 20224

Alternatively, you may send comments to the Chairman, TFCC, by fax at (202) 622-5025, or e-mail to tfpmail@publish.no.irs.gov

After the end of the comment period, the IRS will evaluate the documents received and announce the final changes to Form 8857. Although we will not be able to respond to each comment, we will carefully consider all of them.

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Cynthia E. Grigsby, Chief, Regulations Unit, Assistant Chief Counsel (Corporate).

(Filed by the Office of the Federal Register on October 6, 1998, 8:45 a.m., and published in the issue of the Federal Register for October 7, 1998, 63 F.R. 53862)

Deletions From Cumulative List of Organizations Contributions to Which Are Deductible Under Section 170 of the Code

Announcement 98–98

The names of organizations that no longer qualify as organizations described in section 170(c)(2) of the Internal Revenue Code of 1986 are listed below.

Generally, the Service will not disallow deductions for contributions made to a listed organization on or before the date of announcement in the Internal Revenue Bulletin that an organization no longer qualifies. However, the Service is not precluded from disallowing a deduction for any contributions made after an organization ceases to qualify under section 170(c)(2) if the organization has not timely filed a suit for declaratory judgment under section 7428 and if the contributor (1) had knowledge of the revocation of the ruling or determination letter, (2) was aware that such revocation was imminent, or (3) was in part responsible for or was aware of the activities or omissions of the organization that brought about this revocation.

If on the other hand a suit for declaratory judgment has been timely filed, contributions from individuals and organizations described in section 170(c)(2) that are otherwise allowable will continue to be deductible. Protection under section 7428(c) would begin on November 2, 1998, and would end on the date the court first determines that the organization is not described in section 170(c)(2) as more particularly set forth in section 7428(c)(1). For individual contributors, the maximum deduction protected is $1,000, with a husband and wife treated as one contributor. This benefit is not extended to any individual who was responsible, in whole or in part, for the acts or omissions of the organization that were the basis for revocation.

Conversion to the Euro; Correction

Announcement 98–96

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to temporary regulations.

SUMMARY: This document contains a correction to Treasury Decision 8776, which was published in the Federal Reg- ister on Wednesday, July 29, 1998 (63 F.R. 40366 [1998–33 I.R.B. 6]) relating to U.S. taxpayers operating, investing or otherwise conducting business in the currencies of certain European countries that are replacing their national currencies with a single, multinational currency called the euro.

DATES: This correction is effective July 29, 1998.

FOR FURTHER INFORMATION CONTACT: Howard Weiner, (202) 622-3870 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

The temporary regulations that are the subject of this correction are under section 1001 of the Internal Revenue Code.

Need for Correction

As published, TD 8776 contains an error which may prove to be misleading and is in need of clarification.

Correction of Publication

Accordingly, the publication of the temporary regulations (TD 8776), which was the subject of FR Doc. 98–20023, is corrected as follows:

§1.985–8T [Corrected]

On page 40369, column 2, §1.985– 8T(c)(3)(iv)(B), third line from the top of the column, the language “year of change which includes the” is corrected to read “year ending immediately prior to the year of change which includes the”.

Cynthia E. Grigsby, Chief, Regulations Unit, Assistant Chief Counsel (Corporate).

(Filed by the Office of the Federal Register on October 14, 1998, 8:45 a.m., and published in the issue of the Federal Register for October 15, 1998, 63 F.R. 55333)

Failure by Certain Charitable Organizations to Meet Certain Qualification Requirements; Taxes on Excess Benefit Transactions; Correction

Announcement 98–97

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to notice of proposed rulemaking.

SUMMARY: This document contains a correction to REG–245256–94, which was published in the Federal Register on Tuesday, August 4, 1998 (63 F.R. 41486

[1998–34 I.R.B. 9]), relating to the excise taxes on excess benefit transactions.

FOR FURTHER INFORMATION CONTACT: Phyllis D. Haney, (202) 622-4290 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

The notice of proposed rulemaking that is the subject of this correction is under section 4958 of the Internal Revenue Code.

Need for Correction

As published, REG–246256–96 contains an error which may prove to be misleading and is in need of clarification.

Correction of Publication

Accordingly, the publication of the notice of proposed rulemaking (REG– 246256–96), which is the subject of FR Doc. 98–20419, is corrected as follows:

§53.4958–4 [Corrected]

On page 41502, column 1, §53.4958– 4(b)(3)(iii), Example 2, ninth line from the bottom of the paragraph, the language “determination of whether N’s compensation” is corrected to read “determination of whether K’s compensation”.

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Crossreach of the Holy Cross Society,

Lake Orion, MI Flynn Home for Alcoholic Addiction,

Inc., Portsmouth, VA Senior Housing, Inc.,

Hampton, VA Senior Meals, Inc.,

Hampton, VA

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