Part I. Rulings and Decisions Under the Internal Revenue Code of 1986

Section 167.—Depreciation

A revenue procedure provides a safe harbor method of accounting to treat rotable spare parts as depreciable assets in accordance with Rev. Rul. 2003–37, 2003–1 C.B. 717, and allows taxpayers to obtain the automatic consent of the Commissioner to change to the safe harbor method of accounting. See Rev. Proc. 2007-48, page 110.

Section 168.—Accelerated Cost Recovery System

A revenue procedure provides a safe harbor method of accounting to treat rotable spare parts as depreciable assets in accordance with Rev. Rul. 2003–37, 2003–1 C.B. 717, and allows taxpayers to obtain the automatic consent of the Commissioner to change to the safe harbor method of accounting. See Rev. Proc. 2007-48, page 110.

Section 170.—Charitable, etc., Contributions and Gifts

26 CFR 1.170A–6: Charitable contribution in trust.

Sample inter vivos charitable lead annuity trusts. This revenue procedure contains sample declarations of trust for nongrantor and grantor charitable lead annuity trusts. This revenue procedure also contains annotations to the sample trusts and alternate provisions that may be integrated into the sample trusts. See Rev. Proc. 2007-45, page 89.

Section 446.—General Rule for Methods of Accounting

A revenue procedure provides a safe harbor method of accounting to treat rotable spare parts as depreciable assets in accordance with Rev. Rul. 2003–37, 2003–1 C.B. 717, and allows taxpayers to obtain the automatic consent of the Commissioner to

change to the safe harbor method of accounting. See Rev. Proc. 2007-48, page 110.

Section 481.—Adjustments Required by Changes in Method of Accounting

A revenue procedure provides a safe harbor method of accounting to treat rotable spare parts as depreciable assets in accordance with Rev. Rul. 2003–37, 2003–1 C.B. 717, and allows taxpayers to obtain the automatic consent of the Commissioner to change to the safe harbor method of accounting. See Rev. Proc. 2007-48, page 110.

Section 642.—Special Rules for Credits and Deductions

26 CFR 1.642(c)–1: Unlimited deduction for amounts paid for a charitable purpose.

Sample inter vivos charitable lead annuity trusts. This revenue procedure contains sample declarations of trust for nongrantor and grantor charitable lead annuity trusts. This revenue procedure also contains annotations to the sample trusts and alternate provisions that may be integrated into the sample trusts. See Rev. Proc. 2007-45, page 89.

26 CFR 1.642(c)–1: Unlimited deduction for amounts paid for a charitable purpose.

Sample testamentary charitable lead annuity trust. This revenue procedure contains a sample declaration of trust for a testamentary charitable lead annuity trust. This revenue procedure also contains annotations to the sample trust and alternate provisions that may be integrated into the sample trust. See Rev. Proc. 2007-46, page 102.

Section 2055.—Transfers for Public, Charitable, and Religious Uses

26 CFR 20.2055–2: Transfers not exclusively for charitable purposes.

Sample inter vivos charitable lead annuity trusts. This revenue procedure contains sample declarations of trust for nongrantor and grantor charitable lead annuity trusts. This revenue procedure also contains annotations to the sample trusts and alternate provisions that may be integrated into the sample trusts. See Rev. Proc. 2007-45, page 89.

26 CFR 20.2055–2: Transfers not exclusively for charitable purposes.

Sample testamentary charitable lead annuity trust . This revenue procedure contains a sample declaration of trust for a testamentary charitable lead annuity trust. This revenue procedure also contains annotations to the sample trust and alternate provisions that may be integrated into the sample trust. See Rev. Proc. 2007-46, page 102.

Section 2522.—Charitable and Similar Gifts

26 CFR 25.2522(c)–3: Transfers not exclusively for charitable, etc., purposes in the case of gifts made after July 31, 1969.

Sample inter vivos charitable lead annuity trusts. This revenue procedure contains sample declarations of trust for nongrantor and grantor charitable lead annuity trusts. This revenue procedure also contains annotations to the sample trusts and alternate provisions that may be integrated into the sample trusts. See Rev. Proc. 2007-45, page 89.

2007–29 I.R.B. 86 July 16, 2007