Information Reporting — Internal Revenue Bulletin 1999-31

Between 8:30 a.m. and 4:30 p.m. Eastern Time

Monday through Friday

Electronic Filing - 1-304-262-2400

Telecommunication Device for the Deaf (TDD): 304-267-3367

Information Returns FAX Machine: 304-264-5602

HOURS OF OPERATION -

24 HOURS A DAY 7 DAYS A WEEK

This is the end of Publication 1220 for Tax Year 1999.

174.3 percent for foreign property and liability insurance companies.

.02 DOMESTIC INVESTMENT YIELDS FOR 1998. The Secretary is required to prescribe separate domestic investment yields for foreign life insurance companies and for foreign property and liability insurance companies. For the first taxable year beginning after December 31, 1997, the relevant domestic investment yields are:

7.6 percent for foreign life insurance companies, and

5.8 percent for foreign property and liability insurance companies.

.03 SOURCE OF DATA FOR 1998. The section 842(b) percentages to be used for the 1998 tax year are based on tax return data rather than annual statement data.

With regard to future updates of the section 842(b) percentages, the Service noted in Rev. Proc. 98–31 that it was considering the use of statistical sampling

26 CFR 601.105: Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability.

Rev. Proc. 99–30