Bulletin No. 1999–20 — Internal Revenue Bulletin 1999-20

Notice 99–23, page 73. This notice effects interim revisions to Schedule P of Form 1120–FSC (1998) and its instructions, filed by foreign sales corporations. The notice also solicits public comments by June 30, 1999, on certain proposed revisions to Schedule P for subsequent tax years.

Notice 99–24, page 74. This notice informs taxpayers of the intent of Treasury and the Service to include in final regulations a one-year extension of the time for foreign sales corporations and their related suppliers to file grouping redeterminations under the transition rule for Temp. Treas. Reg. section 1.925(a)– 1T(c)(8)(i).

Notice 99–25, page 75. The Service will extend the effective date of the nonresident alien withholding regulations under section 1441 of the Code that were published in T.D. 8734, 1997–2 C.B. 109. As extended, those regulations will apply to certain payments made to foreign persons after December 31, 2000.

Announcement 99–53, page 95. This document contains a correction to Notice 99–18, 1999–16 I.R.B. 4, in which the underlying calculation given to determine the nonconventional source fuel credit amount contained an erroneous number. However, the amount of the credit itself was not erroneous.