Rev. Rul. 2003-97 provides guidance on whether
SECTION 7. EFFECTIVE DATE
Internal Revenue Bulletin 2003-34 · 2026-10-03 edition · updated 2026-10-04 · United States
This revenue procedure is effective January 1, 2004. Taxpayers are permitted to apply this revenue procedure with respect to a change in ownership or control occurring prior to such date.
TABLE
| Term (months) | 3 | 12 | 24 | 36 | 48 | 60 | 72 | 84 | 96 | 108 | 120 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Volatility | Spread Factor* | |||||||||||
| Low | 200% | 66.8% | 67.3% | 67.9% | 68.4% | 69.0% | 69.5% | 69.9% | 70.3% | 70.7% | 71.0% | 71.2% |
| Low | 180% | 64.5% | 65.0% | 65.7% | 66.4% | 67.1% | 67.7% | 68.3% | 68.8% | 69.3% | 69.6% | 69.9% |
| Low | 160% | 61.8% | 62.4% | 63.3% | 64.1% | 65.0% | 65.8% | 66.5% | 67.1% | 67.7% | 68.1% | 68.5% |
| Low | 140% | 58.6% | 59.4% | 60.4% | 61.5% | 62.5% | 63.5% | 64.4% | 65.1% | 65.8% | 66.4% | 66.9% |
| Low | 120% | 54.9% | 55.8% | 57.1% | 58.4% | 59.7% | 60.9% | 62.0% | 62.9% | 63.7% | 64.5% | 65.1% |
| Low | 100% | 50.4% | 51.5% | 53.2% | 54.8% | 56.4% | 57.9% | 59.1% | 60.3% | 61.3% | 62.2% | 63.0% |
| Low | 80% | 44.9% | 46.3% | 48.5% | 50.6% | 52.6% | 54.3% | 55.9% | 57.3% | 58.5% | 59.6% | 60.5% |
| Low | 60% | 38.0% | 40.0% | 42.9% | 45.6% | 48.0% | 50.1% | 52.0% | 53.7% | 55.2% | 56.5% | 57.6% |
| Low | 40% | 29.3% | 32.3% | 36.3% | 39.7% | 42.6% | 45.2% | 47.4% | 49.4% | 51.2% | 52.7% | 54.1% |
| Low | 20% | 18.1% | 23.3% | 28.5% | 32.7% | 36.2% | 39.3% | 41.9% | 44.3% | 46.4% | 48.2% | 49.9% |
| Low | 0% | 6.4% | 13.6% | 19.9% | 24.7% | 28.8% | 32.3% | 35.4% | 38.1% | 40.5% | 42.7% | 44.7% |
| Low | -20% | 0.6% | 5.4% | 11.2% | 16.1% | 20.4% | 24.2% | 27.6% | 30.6% | 33.4% | 35.9% | 38.1% |
| Low | -40% | 0% | 0.9% | 4.1% | 7.9% | 11.6% | 15.2% | 18.5% | 21.7% | 24.6% | 27.3% | 29.9% |
| Low | -60% | 0% | 0.0% | 0.6% | 2.0% | 4.0% | 6.4% | 9.0% | 11.6% | 14.3% | 16.8% | 19.3% |
August 25, 2003 401 2003-34 I.R.B.
| Term (months) | 3 | 12 | 24 | 36 | 48 | 60 | 72 | 84 | 96 | 108 | 120 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Volatility | Spread Factor* | |||||||||||
| Medium | 200% | 66.8% | 67.4% | 68.6% | 69.9% | 71.1% | 72.2% | 73.1% | 73.9% | 74.5% | 75.0% | 75.4% |
| Medium | 180% | 64.5% | 65.2% | 66.7% | 68.2% | 69.6% | 70.9% | 71.9% | 72.8% | 73.5% | 74.1% | 74.6% |
| Medium | 160% | 61.8% | 62.7% | 64.5% | 66.3% | 68.0% | 69.4% | 70.6% | 71.6% | 72.5% | 73.2% | 73.7% |
| Medium | 140% | 58.6% | 59.8% | 62.0% | 64.2% | 66.1% | 67.7% | 69.1% | 70.3% | 71.2% | 72.0% | 72.7% |
| Medium | 120% | 54.9% | 56.4% | 59.2% | 61.7% | 63.9% | 65.8% | 67.4% | 68.8% | 69.9% | 70.8% | 71.6% |
| Medium | 100% | 50.4% | 52.5% | 55.9% | 58.9% | 61.5% | 63.7% | 65.5% | 67.0% | 68.3% | 69.4% | 70.3% |
| Medium | 80% | 44.9% | 47.9% | 52.2% | 55.7% | 58.7% | 61.2% | 63.2% | 65.0% | 66.5% | 67.7% | 68.8% |
| Medium | 60% | 38.2% | 42.6% | 47.8% | 52.0% | 55.4% | 58.3% | 60.6% | 62.7% | 64.3% | 65.8% | 67.0% |
| Medium | 40% | 30.0% | 36.3% | 42.7% | 47.6% | 51.6% | 54.8% | 57.6% | 59.9% | 61.8% | 63.5% | 64.9% |
| Medium | 20% | 20.3% | 29.1% | 36.8% | 42.5% | 47.0% | 50.8% | 53.9% | 56.5% | 58.8% | 60.7% | 62.3% |
| Medium | 0% | 10.4% | 21.2% | 30.0% | 36.4% | 41.6% | 45.8% | 49.4% | 52.4% | 55.0% | 57.2% | 59.1% |
| Medium | -20% | 3.0% | 13.0% | 22.2% | 29.2% | 34.9% | 39.7% | 43.7% | 47.2% | 50.2% | 52.8% | 55.0% |
| Medium | -40% | 0.3% | 5.7% | 13.8% | 20.8% | 26.8% | 32.0% | 36.4% | 40.4% | 43.8% | 46.8% | 49.5% |
| Medium | -60% | 0% | 1.2% | 5.9% | 11.4% | 16.9% | 22.1% | 26.7% | 31.0% | 34.8% | 38.3% | 41.4% |
| High | 200% | 66.8% | 68.1% | 70.7% | 73.1% | 75.0% | 76.6% | 77.8% | 78.8% | 79.5% | 80.0% | 80.4% |
| High | 180% | 64.5% | 66.1% | 69.1% | 71.7% | 73.9% | 75.6% | 77.0% | 78.1% | 78.9% | 79.5% | 79.9% |
| High | 160% | 61.8% | 63.8% | 67.3% | 70.3% | 72.7% | 74.6% | 76.1% | 77.3% | 78.2% | 78.9% | 79.4% |
| High | 140% | 58.6% | 61.3% | 65.3% | 68.6% | 71.3% | 73.4% | 75.1% | 76.4% | 77.4% | 78.2% | 78.8% |
| High | 120% | 54.9% | 58.3% | 63.0% | 66.8% | 69.7% | 72.1% | 73.9% | 75.4% | 76.6% | 77.4% | 78.1% |
| High | 100% | 50.6% | 55.0% | 60.4% | 64.6% | 67.9% | 70.6% | 72.6% | 74.3% | 75.6% | 76.6% | 77.3% |
| High | 80% | 45.3% | 51.1% | 57.4% | 62.2% | 65.9% | 68.8% | 71.1% | 73.0% | 74.4% | 75.6% | 76.5% |
| High | 60% | 39.1% | 46.6% | 54.0% | 59.4% | 63.5% | 66.8% | 69.4% | 71.4% | 73.1% | 74.4% | 75.4% |
| High | 40% | 31.7% | 41.4% | 50.0% | 56.1% | 60.7% | 64.4% | 67.3% | 69.6% | 71.5% | 73.0% | 74.2% |
| High | 20% | 23.2% | 35.4% | 45.3% | 52.1% | 57.4% | 61.5% | 64.8% | 67.4% | 69.6% | 71.3% | 72.7% |
| High | 0% | 14.3% | 28.5% | 39.6% | 47.4% | 53.3% | 57.9% | 61.6% | 64.7% | 67.1% | 69.1% | 70.8% |
| High | -20% | 6.4% | 20.8% | 32.9% | 41.5% | 48.1% | 53.4% | 57.6% | 61.1% | 64.0% | 66.4% | 68.3% |
| High | -40% | 1.5% | 12.7% | 24.8% | 34.0% | 41.4% | 47.3% | 52.2% | 56.3% | 59.7% | 62.5% | 64.8% |
| High | -60% | 0.1% | 5.2% | 15.2% | 24.3% | 32.1% | 38.8% | 44.4% | 49.1% | 53.2% | 56.6% | 59.5% |
*Spot (market) Price/Exercise Price — 1 or (S/X–1)
2003-34 I.R.B. 402 August 25, 2003
26 CFR 601.602: Tax forms and instructions. (Also Part 1, §§ 3504, 6011, 6061, 6302; 31.3504–1, 31.6011(a)–7, 31.6061–1, 31.6302–1.)
Rev. Proc. 2003–69
TABLE OF CONTENTS
SECTION 1. PURPOSE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 403
SECTION 2. BACKGROUND . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 403
SECTION 3. SIGNIFICANT CHANGES TO REV. PROC. 96–17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 404
SECTION 4. DEFINITIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 404
SECTION 5. SCOPE OF REPORTING AGENT AUTHORIZATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 404
SECTION 6. COMPLETING A REPORTING AGENT AUTHORIZATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 406
SECTION 7. SUBMITTING A REPORTING AGENT AUTHORIZATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 406
SECTION 8. INTERNAL REVENUE SERVICE CONTACTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 406
SECTION 9. OTHER RELATED DOCUMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 406
SECTION 10. EFFECT ON OTHER DOCUMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 406
SECTION 11. EFFECTIVE DATE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 406
Tax Return ; and Form CT–1, Employer’s Annual Railroad Retirement Tax Return .
(4) Receive duplicate copies of official notices, correspondence, deposit requirements, tax rates, transcripts, or other information with respect to the tax returns described in section 1.01(1) or (2) of this revenue procedure.
(5) Receive duplicate copies of official notices, correspondence, deposit requirements, tax rates, transcripts, or other information with respect to FTDs and FTPs.
.02 The technical specifications for filing Authorization information are published separately in Publication 1474, Technical Specifications Guide For Re- porting Agent Authorization For Magnetic Tape/Electronic Filers And Federal Tax Depositors .
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