Internal Revenue Bulletin 1998-47

Official source: Internal Revenue Bulletin (https://www.irs.gov/pub/irs-irbs/irb98-47.pdf), retrieved 2026-10-03. U.S. Government work (17 U.S.C. § 105).

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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.

Rev. Rul. 98–55, page 5. 1998 base period T-bill rate. The “base period T-bill rate” for the period ending September 30, 1998, is published, as required by section 995(f) of the Code.

Rev. Rul. 98–56, page 5. Earned income credit; disqualified income. Gain that is treated as long-term capital gain under section 1231(a)(1) of the Code is not disqualified income for purposes of the earned income credit.

Notice 98–56, page 9. Weighted average interest rate update. The weighted average interest rate for November 1998 and the resulting permissible range of interest rates used to calculate current liability for purposes of the full funding limitation of section 412(c)(7) of the Code are set forth.

Finding Lists begin on page 17. Announcement Relating to Court Decisions begins on page 4.

Department of the Treasury Internal Revenue Service

Announcement 98–103, page 12. A list is given of organizations now classified as private foundations.

Notice 98–57, page 9. Identification of census tracts in District of Columbia Enterprise Zone. This notice provides the identification of those census tracts in the District of Columbia constituting the District of Columbia Enterprise Zone for purposes of section 1400 of the Code and the DC Zone for purposes of section 1400B.

Announcement 98–104, page 13. Rev. Proc. 98–35, 1998–21 I.R.B. 6, reprinted as Publication 1220, Specifications for Filing Forms 1098, 1099, 5498, and W–2G Magnetically or Electronically, is corrected.

Provide America’s taxpayers top quality service by helping them understand and meet their tax responsibilities

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.

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.

and by applying the tax law with integrity and fairness to all.

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.

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.

2

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.

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.

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.

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

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.

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).

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.

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.

3

It is the policy of the Internal Revenue Service to announce at an early date whether it will follow the holdings in certain cases. An Action on Decision is the document making such an announcement. An Action on Decision will be issued at the discretion of the Service only on unappealed issues decided adverse to the government. Generally, an Action on Decision is issued where its guidance would be helpful to Service personnel working with the same or similar issues. Unlike a Treasury Regulation or a Revenue Ruling, an Action on Decision is not an affirmative statement of Service position. It is not intended to serve as public guidance and may not be cited as precedent.

Actions on Decisions shall be relied upon within the Service only as conclusions applying the law to the facts in the particular case at the time the Action on Decision was issued. Caution should be exercised in extending the recommendation of the Action on Decision to similar cases where the facts are different. Moreover, the recommendation in the Action on Decision may be superseded by new legislation, regulations, rulings, cases, or Actions on Decisions.

Prior to 1991, the Service published acquiescence or nonacquiescence only in certain regular Tax Court opinions. The Service has expanded its acquiescence program to include other civil tax cases where guidance is determined to be helpful. Accordingly, the Service now may acquiesce or nonacquiesce in the holdings of memorandum Tax Court opinions, as well as those of the United States District Courts, Claims Court, and Circuit Courts of Appeal. Regardless of the court deciding the case, the recommendation of any Action on Decision will be published in the Internal Revenue Bulletin.

The recommendation in every Action on Decision will be summarized as acquiescence, acquiescence in result only, or nonacquiescence. Both “acquiescence” and “acquiescence in result only” mean that the Service accepts the holding of the court in a case and that the Service will follow it in disposing of cases with the same controlling facts. However, “acquiescence” indicates neither approval nor disapproval of the reasons assigned by the court for its conclusions; whereas, “acquiescence in result only” indicates disagreement or concern with some or all of those reasons. Nonacquiescence signifies that,

Fluor v. United States, ²

126 F.3d 1397 (Fed. Cir. 1997)

although no further review was sought, the Service does not agree with the holding of the court and, generally, will not follow the decision in disposing of cases involving other taxpayers. In reference to an opinion of a circuit court of appeals, a nonacquiescence indicates that the Service will not follow the holding on a nationwide basis. However, the Service will recognize the precedential impact of the opinion on cases arising within the venue of the deciding circuit.

The announcements published in the weekly Internal Revenue Bulletins are consolidated semiannually and annually. The semiannual consolidation appears in the first Bulletin for July and in the Cumulative Bulletin for the first half of the year, and the annual consolidation appears in the first Bulletin for the following January and in the Cumulative Bulletin for the last half of the year.

The Commissioner does not ACQUIESCE in the following decisions:

Clark D. and Janis L. Pulliam v. Commissioner, ¹

T.C. 1997–274

1 Nonacquiescence relating to whether the distribution to a sole shareholder of the stock of a newly formed corporation qualified under section 355 of the Internal Revenue Code.

2 Nonacquiescence relating to whether the taxpayer owes interest under section 6601(a) on the underpayment of its 1982 tax liability, notwithstanding that such underpayment subsequently was eliminated by a carryback, under section 904(c), of excess foreign tax credits from its taxable year 1984.

November 23, 1998 4 1998–47 I.R.B.

1998 ANNUAL RATE, COMPOUNDED DAILY

5.34 PERCENT DAYS FACTOR

1 .000146301 2 .000292624 3 .000438968 4 .000585334 5 .000731721

6 .000878129 7 .001024559 8 .001171010 9 .001317483 10 .001463977

11 .001610493 12 .001757030 13 .001903588 14 .002050168 15 .002196769

16 .002343392 17 .002490036 18 .002636702 19 .002783389 20 .002930098

21 .003076828 22 .003223579 23 .003370352 24 .003517147 25 .003663963

26 .003810800 27 .003957659 28 .004104539 29 .004251441 30 .004398365

31 .004545309 32 .004692276 33 .004839264 34 .004986273 35 .005133304

36 .005280356 37 .005427430 38 .005574526 39 .005721643 40 .005868781

41 .006015941 42 .006163122 43 .006310325 44 .006457550 45 .006604796

Section 32.—Earned Income

26 CFR : 1.32–2: Earned income credit for taxable years beginning after December 31, 1978. (Also: § 1231. )

Earned income credit; disqualified income. Gain that is treated as long-term capital gain under section 1231(a)(1) of the Code is not disqualified income for purposes of the earned income credit.

Rev. Rul. 98–56

Section 32 of the Internal Revenue Code allows an earned income credit to eligible individuals whose income does not exceed certain limits. Section 32(i) denies the earned income credit to an otherwise eligible individual if the individual’s “disqualified income” exceeds a specified level for the taxable year for which the credit is claimed. Disqualified income is income specified in § 32(i)(2). Gain that is treated as long-term capital gain under § 1231(a)(1) is not disqualified income for purposes of § 32(i).

DRAFTING INFORMATION

The principal author of this revenue ruling is Christie J. Jacobs of the Office of Assistant Chief Counsel (Income Tax and Accounting). For further information regarding this revenue ruling contact Ms. Jacobs on (202) 622-4930 (not a toll-free call).

Section 995.—Taxation of DISC Income to Shareholders

1998 base period T-bill rate. The “base period T-bill rate” for the period ending September 30, 1998, is published, as required by section 995(f) of the Code.

Rev. Rul. 98–55

Section 995(f)(1) of the Internal Revenue Code provides that a shareholder of a DISC shall pay interest each taxable year in an amount equal to the product of the shareholder’s DISC-related deferred tax liability for the year and the “base period T-bill rate.” Under section 995(f)(4), the base period T-bill rate is the annual rate of interest determined by the Secretary to be equivalent to the average investment yield

of United States Treasury bills with maturities of 52 weeks which were auctioned during the one-year period ending on September 30 of the calendar year ending with (or of the most recent calendar year ending before) the close of the taxable year of the shareholder. The base period Tbill rate for the period ending September 30, 1998, is 5.34 percent. Pursuant to section 6622 of the Code, interest must be compounded daily. The table below provides factors for compounding the base period T-bill rate daily for any number of days in the shareholder’s taxable year (including a 52-53 week accounting period) for the 1998 base period T-bill rate. To compute the amount of the interest charge for the shareholder’s taxable year, multiply the amount of the shareholder’s DISC-related deferred tax liability (as defined in section 995(f)(2)) for that year by the base period T-bill rate factor corresponding to the number of days in the shareholder’s taxable year for which the interest charge is being computed. Generally, one would use the factor for 365 days. One would use a different factor only if the shareholder’s taxable year for which the interest charge being determined is a short taxable year, if the shareholder uses the 52-53 week taxable year, or if the shareholder’s taxable year is a leap year.

For the base period T-bill rates for the periods ending in prior years, see: Rev. Rul. 86–132, 1986–2 C.B. 137; Rev. Rul. 87–129, 1987–2 C.B. 196; Rev. Rul. 88– 94, 1988–2 C.B. 301; Rev. Rul. 89–116, 1989–2 C.B. 197; Rev. Rul. 90–96, 1990– 2 C.B. 188; Rev. Rul. 91–59, 1991–2 C.B. 347; Rev. Rul. 92–98, 1992–2 C.B. 201; Rev. Rul. 93–77, 1993–2 C.B. 253; Rev. Rul. 94–68, 1994–2 C.B. 177; Rev. Rul. 95–77, 1995–2 C.B. 122; Rev. Rul. 96– 55, 1996–2 C.B. 57; and Rev. Rul. 97–49, 1997–48 I.R.B. 4.

DRAFTING INFORMATION

The principal author of this revenue ruling is David Bergkuist of the Office of the Associate Chief Counsel (International). For further information about this revenue ruling, contact Mr. Bergkuist on (202) 622-3850 (not a toll-free call.

1998–47 I.R.B. 5 November 23, 1998

148 .021887103 149 .022036607 150 .022186132

151 .022335679 152 .022485248 153 .022634839 154 .022784452 155 .022934087

156 .023083744 157 .023233422 158 .023383123 159 .023532845 160 .023682589

161 .023832355 162 .023982143 163 .024131953 164 .024281785 165 .024431639

166 .024581515 167 .024731413 168 .024881332 169 .025031274 170 .025181237

171 .025331223 172 .025481230 173 .025631259 174 .025781311 175 .025931384

176 .026081479 177 .026231596 178 .026381735 179 .026531896 180 .026682079

181 .026832284 182 .026982511 183 .027132760 184 .027283031 185 .027433324

186 .027583639 187 .027733976 188 .027884335 189 .028034716 190 .028185118

191 .028335543 192 .028485990 193 .028636459 194 .028786950 195 .028937463

196 .029087998 197 .029238555 198 .029389134

46 .006752064 47 .006899353 48 .007046664 49 .007193996 50 .007341350

51 .007488725 52 .007636122 53 .007783541 54 .007930981 55 .008078443

56 .008225926 57 .008373431 58 .008520957 59 .008668505 60 .008816075

61 .008963666 62 .009111279 63 .009258913 64 .009406569 65 .009554247

66 .009701946 67 .009849667 68 .009997409 69 .010145173 70 .010292959

71 .010440766 72 .010588595 73 .010736445 74 .010884317 75 .011032211

76 .011180126 77 .011328064 78 .011476022 79 .011624003 80 .011772005

81 .011920028 82 .012068073 83 .012216140 84 .012364229 85 .012512339

86 .012660471 87 .012808625 88 .012956800 89 .013104997 90 .013253216

91 .013401456 92 .013549718 93 .013698002 94 .013846307 95 .013994634

96 .014142983

97 .014291354 98 .014439746 99 .014588160 100 .014736595

101 .014885053 102 .015033532 103 .015182033 104 .015330555 105 .015479099

106 .015627665 107 .015776253 108 .015924863 109 .016073494 110 .016222147

111 .016370821 112 .016519518 113 .016668236 114 .016816976 115 .016965738

116 .017114521 117 .017263326 118 .017412153 119 .017561002 120 .017709873

121 .017858765 122 .018007679 123 .018156615 124 .018305573 125 .018454552

126 .018603554 127 .018752577 128 .018901622 129 .019050688 130 .019199777

131 .019348887 132 .019498019 133 .019647173 134 .019796349 135 .019945547

136 .020094766 137 .020244007 138 .020393271 139 .020542555 140 .020691862

141 .020841191 142 .020990541 143 .021139914 144 .021289308 145 .021438724

146 .021588162 147 .021737621

November 23, 1998 6 1998–47 I.R.B.

199 .029539735 200 .029690358

201 .029841003 202 .029991670 203 .030142359 204 .030293071 205 .030443804

206 .030594559 207 .030745337 208 .030896136 209 .031046958 210 .031197801

211 .031348667 212 .031499555 213 .031650464 214 .031801396 215 .031952350

216 .032103326 217 .032254324 218 .032405345 219 .032556387 220 .032707451

221 .032858538 222 .033009647 223 .033160777 224 .033311930 225 .033463105

226 .033614302 227 .033765521 228 .033916763 229 .034068026 230 .034219312

231 .034370619 232 .034521949 233 .034673301 234 .034824675 235 .034976072

236 .035127490 237 .035278931 238 .035430393 239 .035581878 240 .035733385

241 .035884914 242 .036036466 243 .036188039 244 .036339635 245 .036491253

246 .036642893 247 .036794555 248 .036946240 249 .037097946 250 .037249675

251 .037401426 252 .037553200 253 .037704995 254 .037856813 255 .038008653

256 .038160515 257 .038312399 258 .038464306 259 .038616234 260 .038768185

261 .038920158 262 .039072154 263 .039224172 264 .039376212 265 .039528274

266 .039680358 267 .039832465 268 .039984594 269 .040136745 270 .040288918

271 .040441114 272 .040593332 273 .040745572 274 .040897835 275 .041050119

276 .041202426 277 .041354756 278 .041507107 279 .041659481 280 .041811878

281 .041964296 282 .042116737 283 .042269200 284 .042421685 285 .042574193

286 .042726723 287 .042879276 288 .043031850 289 .043184447 290 .043337066

291 .043489708 292 .043642372 293 .043795058 294 .043947767 295 .044100498

296 .044253251 297 .044406027 298 .044558825 299 .044711645 300 .044864488

301 .045017353

302 .045170241 303 .045323151 304 .045476083 305 .045629037

306 .045782014 307 .045935014 308 .046088035 309 .046241080 310 .046394146

311 .046547235 312 .046700346 313 .046853480 314 .047006636 315 .047159815

316 .047313015 317 .047466239 318 .047619485 319 .047772753 320 .047926043

321 .048079356 322 .048232692 323 .048386050 324 .048539430 325 .048692833

326 .048846258 327 .048999706 328 .049153176 329 .049306668 330 .049460183

331 .049613721 332 .049767281 333 .049920863 334 .050074468 335 .050228095

336 .050381745 337 .050535417 338 .050689112 339 .050842829 340 .050996569

341 .051150331 342 .051304116 343 .051457923 344 .051611753 345 .051765605

346 .051919480 347 .052073377 348 .052227297 349 .052381239 350 .052535204

351 .052689191 352 .052843201

1998–47 I.R.B. 7 November 23, 1998

353 .052997234 354 .053151289 355 .053305366

356 .053459466 357 .053613589 358 .053767734 359 .053921901 360 .054076092

361 .054230304 362 .054384540

363 .054538798 364 .054693078 365 .054847381

366 .055001707 367 .055156055 368 .055310426 369 .055464819 370 .055619235

371 .055773674

Section 1231.—Property Used in a Trade or Business and Involuntary Conversions

26 CFR 1.1231–1: Gains and losses from the sale or exchange of certain property used in the trade or business.

Is gain that is treated as long-term capital gain under § 1231(a)(1) of the Code disqualified income for purposes of the earned income credit. See Rev. Rul. 98–56, page 5.

November 23, 1998 8 1998–47 I.R.B.

The average yield on the 30-year Treasury Constant Maturities for November 1998 is 5.01 percent. The following rates were determined for the plan years beginning in the month shown below.

Weighted Average Interest Rate Update

Notice 98–56

Notice 88–73 provides guidelines for determining the weighted average interest rate and the resulting permissible range of

interest rates used to calculate current liability for the purpose of the full funding limitation of § 412(c)(7) of the Internal Revenue Code as amended by the Omnibus Budget Reconciliation Act of 1987 and as further amended by the Uruguay Round Agreements Act, Pub. L. 103–465 (GATT).

90% to 106% 90% to 110% Weighted Permissible Permissible Month Year Average Range Range

November 1998 6.34 5.71 to 6.72 5.71 to 6.98

DC Zone shall be treated as including all D.C. census tracts for which the poverty rate is not less than 10 percent.

IDENTIFICATION OF D.C. CENSUS TRACTS FOR PURPOSES OF SECTIONS 1400 AND 1400B

Table 1 identifies the D.C. census tracts that constitute the District of Columbia Enterprise Zone for purposes of § 1400. It lists all D.C. census tracts having a poverty rate of not less than 20 percent, which include the D.C. census tracts that are part of an enterprise community designated under subchapter U before enactment of subchapter W.

Table 2 identifies the D.C. census tracts that constitute the DC Zone for purposes of § 1400B. It lists all D.C. census tracts having a poverty rate of not less than 10 percent.

The map provided identifies the approximate locations of all of the D.C. census tracts and highlights those census tracts listed in the tables. This map and the information in the tables were developed by the U.S. Department of Housing and Urban Development using data from the 1990 Census.

Information on the boundaries of each D.C. census tract may be obtained from:

Data Management Division D.C. Office of Planning Government of the District of Columbia 801 North Capitol Street, NE Washington, DC 20002 Herbert Bixhorn, Director (202) 442-7603 (not a toll-free call)

Drafting Information

The principal author of this notice is Todd Newman of the Employee Plans Division. For further information regarding this notice, call (202) 622-6076 between 2:30 and 3:30 p.m. Eastern time (not a toll-free number). Mr. Newman’s number is (202) 622-8458 (also not a toll-free number).

D.C. Enterprise Zone / Census Tracts

Notice 98–57

This notice identifies the census tracts in the District of Columbia (D.C. census tracts) constituting the District of Columbia Enterprise Zone for purposes of § 1400 of the Internal Revenue Code and the DC Zone for purposes of § 1400B. Those sections were added to the Code by the Taxpayer Relief Act of 1997, Pub. L. No. 105–34, 111 Stat. 788 (1997), effective August 5, 1997. This notice contains (1) tables that list the D.C. census tracts constituting the District of Columbia Enterprise Zone for purposes of § 1400 and the DC Zone for purposes of § 1400B, (2) a map of all of the D.C. census tracts, and (3) a source for obtaining the location of the boundary of each D.C. census tract.

BACKGROUND

Sections 1400 and 1400B designate certain economically depressed census tracts within the District of Columbia, within which businesses are eligible for special tax incentives.

Section 1400(a) provides that, except as otherwise provided in subchapter W, the District of Columbia Enterprise Zone shall be treated as an empowerment zone designated under subchapter U. The provisions of subchapter U include the designation and treatment of empowerment zones and enterprise communities. The special tax incentives that are available in the District of Columbia Enterprise Zone by reason of § 1400 include (1) a 20-percent wage credit for the first $15,000 of certain qualified wages paid to D.C. residents who work in the District of Columbia Enterprise Zone; (2) an additional $20,000 of expensing under § 179 for certain qualified zone property; and (3) special tax-exempt financing for certain zone facilities.

Section 1400(b) provides that for purposes of § 1400(a), the District of Columbia Enterprise Zone means the area consisting of (1) the D.C. census tracts that are part of an enterprise community designated under subchapter U before the date of enactment of subchapter W, and (2) all other D.C. census tracts for which the poverty rate is not less than 20 percent.

Section 1400B provides that gross income does not include qualified capital gain from the sale or exchange of any DC Zone asset held for more than 5 years. In general, a DC Zone asset means any DC Zone business stock, partnership interest, and business property. See § 1400B(b)(1).

Section 1400B(d) provides that for purposes of applying § 1400B (and for purposes of applying subchapter W and subchapter U with respect to § 1400B), the

1998–47 I.R.B. 9 November 23, 1998

TABLE 1. D.C. CENSUS TRACTS HAVING A POVERTY RATE OF NOT LESS THAN 20 PERCENT

2.01 2.02 28.01 28.02 30.00 31.00 34.00 35.00 36.00 37.00 43.00 45.00 47.00 48.01 49.01 49.02 50.00

2.01 2.02 3.10 7.20 20.01 21.01 22.02 23.02 25.02 27.01 27.02 28.01 28.02 29.00 30.00 31.00 32.00 33.01 33.02 34.00 35.00 36.00 37.00 38.00 39.00 42.02 43.00 45.00 46.00 47.00 48.01

57.01 58.00 59.00 60.20 62.02 64.10 71.00 72.00 73.02 73.04 73.08 74.01 74.04 74.06 74.07 74.08 74.09

74.30 75.02 75.03 75.04 77.03 77.08 78.04 78.08 78.60 79.01 84.02 86.00 88.02 88.03 88.04 89.04 90.01

91.02 92.40 96.02 97.00 98.03 98.04 98.05 98.06 98.10 98.20 99.03 99.04 99.05 99.07

TABLE 2. D.C. CENSUS TRACTS HAVING A POVERTY RATE OF NOT LESS THAN 10 PERCENT

88.04 89.03 89.04 90.01 90.02 91.02 91.10 92.03 92.10 92.40 93.02 95.01 96.02 96.03 97.00 98.03 98.04 98.05 98.06 98.07 98.08 98.09 98.10 98.20 99.03 99.04 99.05 99.06 99.07

mation regarding this notice contact Mr. Douglas on (202) 622-3110 (not a tollfree call).

48.02 49.01 49.02 50.00 51.00 52.10 52.20 53.01 54.01 55.01 55.02 56.00 57.01 58.00 59.00 60.20 62.02 64.10 68.01 68.02 69.00 71.00 72.00 73.02 73.04 73.08 74.01 74.04 74.06 74.07 74.08

DRAFTING INFORMATION CONTACT

The principal author of this notice is

74.09 74.30 75.02 75.03 75.04 76.01 76.03 76.04 76.05 77.03 77.07 77.08 77.09 78.03 78.04 78.07 78.08 78.09 78.60 79.01 79.03 80.01 80.02 83.02 84.02 85.10 86.00 87.01 87.02 88.02 88.03

Winston H. Douglas of the Office of the Assistant Chief Counsel (Passthroughs and Special Industries). For further infor

November 23, 1998 10 1998–47 I.R.B.

1998–47 I.R.B. 11 November 23, 1998

Foundations Status of Certain Organizations

Announcement 98–103

American Benevolent Association, Jay,

OK American Bosnia Relief Association, St.

American Italian Heritage Foundation

Inc., Osprey, FL American Legion Baseball Association

Inc., Mountain Home, AR American Literacy Guild, Westchester, IL American Master Chorale Inc., Madison,

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: Alternative Financing Program Inc., Fort

Louis, MO American Business Consultants

Mesa, CA American Foundation for Brewing

Association, Ellisville, MO American Capital Foundation for the

Homeless, Marina Del Rey, CA American Charity Fund, Oak Brook, IL American Childrens Theatre Academy

WI American Mobile Medical Assistance,

Inc., Denver, CO American Christian Youth Inc.,

Collingswood, NJ American City Manufacturing Company,

Cambridge, MA American Museum for the Preservation

of Historic Aircraft, Long Island City, NY American Peace Watch Foundation

Moshe Mirsky, New York, NY American Relief Service Inc., Goshen, IN American Religious Movement for Youth

Baltimore, MD American Community for Research and

Education Inc., New York, NY American Council of the Blind of Idaho

Inc., Idaho Falls, ID American Drug Free Promotions Group,

Association and Foundation, Houston, TX American Society of Furniture Artists,

Inc., Benbrook, TX American-Royal Thai Air Classics

Kent, WA American Education Institute, Bigfork,

Houston, TX American Society of Payroll

MT American Fiction Foundation, Costa

Lauderdale, FL Alvin E. Gershen Apartments Inc.,

Pennington, NJ Amador County Training Officers

Prevention Inc., Hurst, TX American Friends of the Seminary of

History and Arts Inc., Ft. Mitchell, KY American Foundation for Drug

Management Foundation, New York, NY American Task Force for Bosnia Inc.,

Washington, DC American Telemedicine Association,

York, NY American Victory Mariners Memorial

Association, Jackson, CA Amateur Baseball Development,

Austin, TX American Theatre of Harlem Inc., New

Museum Inc., Teaneck, NJ American Youth Military Academy,

Riverside, CA Ambassadors of Love International,

Judaic Studies-Bet Midrash Inc., South Orange, NJ American Friends of Agudath Athava

Junction City, KS Amber Resource & Development Inc.,

Veahva, Brooklyn, NY American Friends of Beit Orot Inc.,

Brooklyn, NY American Friends of Kol Yehuda Inc.,

Johnston, RI Americans for Legal Reform Inc.,

Noblesville, IN Americans of Italian Heritage Inc.,

Flushing, NY Americans Stopping Child Abuse,

Washington, DC Amberwood Inc., Ojai, CA Ambler Arts Festival at Temple

University, Spring House, PA Ameinu Foundation of America Inc.,

Deal, NJ American Friends of the Lomonosov

New York, NY American Foundation for Amelioration of

Foundation, Houston, TX American Friends of United Yishuv

Movement, Brooklyn, NY American Friends of Yeshive Bais

Attention Deficit Disorders & Learning Disabilities, Ridgeton, MO Amerasian Information Center Inc.,

Shlomo, Bel Harbor, NY American Indian Educational and

Carlsbad, CA Amidah Inc., Freeport, NY Amigos International, Millersville, PA Amurt-Stop Diabetes Inc., San Antonio,

TX Anderson County We Are Our Brothers

Association, Andover, MN Anew Beginning in Texas Inc., Humble,

TX Angel Garden Inc., Kokiak, AK Angel of Grace Foundation Inc.,

Portland, OR America for Children Inc., Lilburn, GA America Part II Foundation, Washington,

Opportunity Fund Inc., Fort Worth, TX American Indian Health Clinic, St. Paul,

MN American Indian Reliance Organization

Keeper Inc., Palestine, TX Andover Recreational Development

DC American Aids Association, New York,

Inc., Saint Petersburg, FL American Indian Womens Resource

NY American Alliance for Better Schools

Center Inc., Denver, CO American Islamic Community

Foundation, Washington, DC American Amateur Indexed Golf

Development Foundation, Washington, DC

Memphis, TN Angela Gaines Memorial Fund Inc.,

Parker, CO

Association, Stafford, TX

November 23, 1998 12 1998–47 I.R.B.

Angelina County Youth Football Inc.,

Lufkin, TX Animal Lifeline Inc., Fort Lauderdale, FL Animal Rescue & Adoption Services

Art Trails Inc., Accord, NY Artists Relating Together & Exhibiting

Inc., Dallas, TX Arts & Education Foundation of Alabama

Atlanta Chapter of Health Physics

Inc., Ft. Smith, AR Animal Welfare League of Hilton Head

Island, Hilton Head Island, SC Annalori Corp, Colorado Springs, CO Annapolis Baseball Club, Annapolis, MD Anti Vehicle Crime Association of

Inc., Birmingham, AL Arts Council of Gibson County Inc.,

Princeton, IN Arts New Mexico Inc., Santa Fe, NM Arts over AIDS, St. Paul, MN Artserv Incorporated, Dallas, TX Ascorap Mission, Houston, TX Ashland Area Girls Fastpitch Promotions

Inc., Ashland, OH ASI-Austin Texas Inc., St. Paul, MN Asia Evangelical Ministries, Des Plaines,

Atlanta, GA Atlanta Takedown Association Inc.,

Society Inc., Doraville, GA Atlanta Clergy and Laity Concerned Inc.,

Atlanta, GA Atlanta Home Missions Inc., Austell, GA Atlanta Housing Association of

Neighborhood-Based Developers, Atlanta, GA Atlanta Lesbian and Gay History Inc.,

TX Auburn Memorial Companies Inc.,

Wisconsin Inc., Stevens Point, WI Antioch Christian Ministries Inc.,

Glendale, AZ Apologetics for Faith Integrating Reason

Atlanta, GA Atlanta Youth Chorale, Atlanta, GA Attendant Services of Houston, Bellaire,

Ministries, Irvine, CA Appalachia Rescue Squad Inc.,

Appalachia, VA Applied Rehabilitation Ministries Inc.,

IL Asia Pacific Policy Center Inc., NW,

Washington, DC Asian Americans of Connecticut Inc., W.

Auburn, NY Auburn-Opelika Sports Corporation,

Auburn, AL Audubon Area First Responders,

Phoenix, AZ Applied Research Institute for Social

Audubon, MN Augusta County Fair, Verona, VA Aurora Recreation Center, Aurora, IL Austin Labor Force Intermediary,

Equality Inc., Wayne, NJ Aqua-Sports Boating Education,

Bellevue, WA Aragon Affordable Housing Inc., Irvine,

Hartford, CT Asian Missions Inc., Vancouver, WA Asian Pacific Womens Center Inc., Los

CA Arcade Pregnancy Services Inc.,

Yorkshire, NY Archangel Project Inc., South Darmouth,

MA Archimedes Group Inc., New Haven, CT Arizona Aids Services of the Deaf Inc.,

Angeles, CA Asociacion Dominicana de la Florida

Central Inc., Orlando, FL Asociacion Esperanza y Caridad Inc.,

Vietnamese Prisoners of War, Houston, TX Assistive Technologies Group, Dayton,

Miami, FL Assistance Association of Former

Chicago, IL 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.

Phoenix, AZ Arizona Baseball Inc., Scottsdale, AZ Arizona Family Member Services

Louisville, KY Association of Directors of Geriatric

OH Assistive Technology Users Group Inc.,

Foundation, Scottsdale, AZ Arizona Foundation for Agricultural

Education Inc., Phoenix, AZ Arizona Patenet Law Association,

Phoenix, AZ Arizona Quail Preservation Society,

Academic Programs Inc., Cleveland, OH Association of Professionals in Risk

Phoenix, AZ Arizona Realtors Affordable Housing

Foundation Inc., Phoenix, AZ Arizona State Horsemens Foundation

Related Disciplines, Seattle, WA Associated Resource Management

Services, Norwich, CT Association for Surgical Education

Inc., Phoenix, AZ Arizona Waste Exchange Inc., Tucson,

AZ Arkansas Crime Prevention Association,

Foundation, Springfield, IL Association for the Honorable Order of

Tennessee Colonels Inc., Jackson, TN Association of Black Secretaries,

Oakland, CA Asthma Network of Plano, Plano, TX Astoria Community Service Inc., Astoria,

NY Atascadero Recreation Center Committee

Announcement 98–104

This announcement corrects several errors made in Rev. Proc. 98–35, 1998–21 I.R.B. 6, reprinted as Publication 1220, which describes the specifications for filing Forms 1098, 1099, 5498, and W–2G Magnetically or Electronically.

A. The IRA/SEP/SIMPLE Indicator for Form 1099–R found in Field Position 548 of the Payee “B” Record may be used in certain cases with Distribution Codes G and H (which are reported in Field Positions 545 or 546). Distribution Code G may be used with the IRA/SEP/SIMPLE Indicator for Tax Year 1998 when contributions to a First IRA are recharacterized

Little Rock, AR Arkansas Cultural Complex Study Inc.,

Little Rock, AR Arkansas Economic Corporation,

Brinkley, AR Armstrong-Stafford Community Council

Inc., Seagoville, TX Art Association of Madison County Inc.,

Inc., Atascadero, CA Atchison Area Crime Stoppers Inc.,

Atchison, KS Athletic International Inc., Dallas, TX Atlanta Braves Foundation Inc., Atlanta,

Anderson, IN Art Factory Inc., Miami Springs, FL

GA

1998–47 I.R.B. 13 November 23, 1998

as contributions to a Second IRA. Distribution Code H may be used when a distribution from a conduit IRA is payable to the trustee or is transferred to an employer plan. To incorporate this information, the following changes should be made to Publication 1220: (1) In Part A, Section 19, Items 13 and 14 should be deleted. (2) In Part B, Section 10(14), Field Posi- tions 545-546, the item reading, “** Distribution Codes G and H cannot be used in combination with the IRA/SEP /SIMPLE Indicator in Field Position 548,” should be deleted. (3) Part B, Sec- tion 10(14), Field Position 548, should read, “Enter “1” if the IRA/SEP/SIM- PLE Indicator applies. . .”. The bold statement should read, “Do not use the indicator for an Education IRA”. The words “Roth IRA or” should be deleted.

B. Announcement 98–72, 1998–31 I.R.B. 14, was released erroneously by IRS/Martinsburg Computing Center regarding the Form 5498 and Form 5498–MSA due dates, which in turn impacted the information contained in Publication 1220. However, this information may appear correctly in some versions of this publication, specifically those downloaded from various bulletin boards and web sites. To clarify this misstatement and any other misinformation that may be circulating, that may be circulating, the due dates for Form 5498 and Form 5498–MSA should read as follows:

Participant Copy – June 1, 1999*

IRS Copy – June 1, 1999*

*This is due to the actual due date falling on the Memorial Day Holiday (May 31, 1999).

Table 1. Partricipating States and Their Codes

C. In Part A, Section 13, a portion of the Guidelines for Filing Corrected Returns Magnetically/Electronically was left out. Under Error Made on the Original Return #2, step F for filing the corrected return should read, “Corrected returns submitted to IRS/MCC using “G” coded “B” Records may be on the same file as those returns submitted without the “G” code; however, separate “A” Records are required.”

D. In Part A, Section 16, Combined Federal State Filing Program, the state of Minnesota and the corresponding code of 27 were dropped from the program in error. Table 1. Participating States and Their Codes, and Table 2. Dollar Criteria For State Reporting should include the following information:

State Code State Code State Code

Alabama 01 Indiana 18 Montana 30 Arizona 04 Iowa 19 New Jersey 34 Arkansas 05 Kansas 20 New Mexico 35 California 06 Maine 23 North Dakota 38 Delaware 10 Massachusetts 25 Oregon 41 District of Columbia 11 Minnesota 27 South Carolina 45 Georgia 13 Mississippi 28 Tennessee 47 Hawaii 15 Missouri 29 Wisconsin 55 Idaho 16

November 23, 1998 14 1998–47 I.R.B.

Table 2. Dollar Criteria for State Reporting

State 1099–DIV 1099–G 1099–INT 1099–MISC 1099–OID 1099–PATR 1099–R 5498

Alabama $1500 $ NR $1500 $1500 $1500 $1500 $1500 NR Arkansas 100 2500 100 2500 2500 2500 2500 a

District of

Columbia ^b 600 600 600 600 600 600 600 NR Hawaii 10 a 10 600 10 10 600 a

Idaho NR NR NR 600 NR NR a a

Iowa 10 10 10 600 10 10 10 a

Minnesota 10 10 10 600 10 10 600 a

Mississippi 600 600 600 600 600 600 600 NR Missouri NR NR NR 1200 ^c NR NR NR NR Montana 10 10 10 600 10 10 600 a

New Jersey 1000 1000 1000 1000 1000 1000 1000 NR Tennessee 100 NR 100 NR NR NR NR NR Wisconsin NR NR NR 600 NR NR 600 NR

not required to report this information for Tax Year 1998. The location of the Total Number of Payees field will be revisited for Tax Year 1999 filing.

H. In Part B, Section 8, information in Field Positions 28–39 of the Payer “A” Record, describing Amount Code 1 for the Form 5498, was listed incorrectly. The correct information is as follows:

Amount Code Amount Type

1 IRA contributions (other than amounts in Amount Codes 2, 3, 7, 8, 9 and A)

The preceding list is for information purposes only. The state filing requirements are subject to change by the states. For complete information on state filing requirements, contact the appropriate state tax agencies.

Filing requirements for states in Table 1 not shown in Table 2 are the same as the federal requirement. NR = No filing requirement. Footnotes: a. All amounts are to be reported. b. Amounts are for aggregates of several types of income from the same payer. c. Missouri would prefer those returns filed with respect to non-Missouri residents to be sent directly to its state agency.

E. Part B, Section 4.08(b) incorrectly states the acceptable sizes of Quarter Inch Cartridges(QIC). Quarter Inch Car- tridges with a size of QIC–11 or QIC–1350 are not acceptable.

F. Part B, Section 5.01(b)(2), incorrectly stated the save command for 5 ¹ ⁄4” diskettes recorded using EBCDIC on an AS400 system. The correct statement should read, “The save command for AS400 is SAV S 36F.”

G. In Part B, Section 6, Field Positions 296–303 of the Transmitter “T” Record, listing the Total Number of Payees, is identified as a required field. IRS/MCC encourages filers to complete the information as requested; however, filers are

1998–47 I.R.B. 15 November 23, 1998

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

The following abbreviations in current use and for- merly 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.

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

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.

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.

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.

November 23, 1998 16 1998–47 I.R.B.

Tax Conventions:

1998–43 I.R.B. 6

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 8786, 1998–44 I.R.B. 4 8787, 1998–46 I.R.B. 5 8788, 1998–45 I.R.B. 6

Numerical Finding List ¹

Bulletins 1998–29 through 46

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 98–93, 1998–43 I.R.B. 10 98–94, 1998–43 I.R.B. 32 98–95, 1998–44 I.R.B. 13 98–96, 1998–44 I.R.B. 18 98–97, 1998–44 I.R.B. 18 98–98, 1998–44 I.R.B. 18 98–99, 1998–46 I.R.B. 34 98–100, 1998–46 I.R.B. 42 98–101, 1998–45 I.R.B. 27 98–102, 1998–45 I.R.B. 28

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 98–50, 1998–44 I.R.B. 10 98–51, 1998–44 I.R.B. 11 98–52, 1998–46 I.R.B. 16 98–53, 1998–46 I.R.B. 24 98–54, 1998–46 I.R.B. 25 98–55, 1998–46 I.R.B. 26

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.

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–109708–97, 1998–45 I.R.B. 29 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 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

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 98–54, 1998–43 I.R.B. 7 98–55, 1998–46 I.R.B. 27 98–56, 1998–46 I.R.B. 33

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 98–51, 1998–43 I.R.B. 4 98–52, 1998–45 I.R.B. 4 98–53, 1998–46 I.R.B. 12 98–54, 1998–46 I.R.B. 14

1998–47 I.R.B. 17 November 23, 1998

Revenue Rulings—Continued

93–81 Obsoleted by 98–37, 1998–32 I.R.B. 5

3–91 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

94–5 Obsoleted by 98–37, 1998–32 I.R.B. 5

94–6 Obsoleted by 98–37, 1998–32 I.R.B. 5

94–30 Obsoleted by 98–37, 1998–32 I.R.B. 5

94–51 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

95–9 Obsoleted by 98–37, 1998–32 I.R.B. 5 97–37 Obsoleted by 98–39, 1998–33 I.R.B. 4

Finding List of Current Action on Previously Published Items ¹

Bulletins 1998–29 through 46

*Denotes entry since last publication

Notices:

87–13 Modified by 98–49, 1998–38 I.R.B. 5

87–16 Modified by 98–49, 1998–38 I.R.B. 5

Revenue Procedures:

83–58 Obsoleted by 98–37, 1998–32 I.R.B. 5

88–17 Clarified, modified, and superseded by 98–54, 1998–43 I.R.B. 7

94–23 Amplified and superseded by 98–55, 1998–46 I.R.B. 27

97–40 Amplified and superseded by 98–55, 1998–46 I.R.B. 27 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

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.

Revenue Rulings—Continued

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 76–562 Obsoleted by 98–37, 1998–32 I.R.B. 5 77–214 Obsoleted by 98–37, 1998–32 I.R.B. 5 79–106 Obsoleted by 98–37, 1998–32 I.R.B. 5 83–113 Obsoleted by 98–37, 1998–32 I.R.B. 5 85–143 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

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

November 23, 1998 18 1998–47 I.R.B.

The 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 of Documents when their subscriptions must be renewed.

The contents of this weekly Bulletin are consolidated semiannually into a permanent, indexed, Cumulative Bulletin. These are sold on a single copy basis and are not included as part of the subscription to the Internal Revenue Bulletin. Subscribers to the weekly Bulletin are notified when copies of the Cumulative Bulletin are available. Certain issues of Cumulative Bulletins are out of print and are not available. Persons desiring available Cumulative Bulletins, which are listed on the reverse, may purchase them from the Superintendent of Documents.

Check the publications and/or subscription(s) desired on the reverse, complete the order blank, enclose the proper remittance, detach entire page, and mail to the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402. Please allow two to six weeks, plus mailing time, for delivery.

If you have comments concerning the format or production of the Internal Revenue Bulletin or suggestions for improving it, we would be pleased to hear from you. You can e-mail us your suggestions or comments through the IRS Internet Home Page (www.irs.ustreas.gov) or write to the IRS Bulletin Unit, T:FP:F:CD, Room 5560, 1111 Constitution Avenue NW, Washington, DC 20224. You can also leave a recorded message 24 hours a day, 7 days a week at 1–800–829–9043.