Bulletin No. 2013-14 April 1, 2013

Notice 2013–19, page 743. This notice provides guidance on whether, for purposes of applying the limitation set forth in the flush language of section 807(d)(1) of the Code (the statutory reserve cap), deficiency reserves are included in the amount taken into account with respect to a life insurance contract in determining statutory reserve under section 807(d)(6).

Rev. Proc. 2013–20, page 744. Revenue Procedure 2013–20 modifies Rev. Proc. 2011–14, 2011–4 I.R.B. 330, to provide procedures for a taxpayer to obtain the automatic consent of the Commissioner under section 446(e) of Code to change its method of accounting under section 263A for the production of one or more plants removed from the list of plants grown in commercial quantities in the United States having a preproductive period in excess of two years based on the nationwide weighted average preproductive period for such plant. Concurrently with the issuance of Rev. Proc. 2013–20, the Service and the Treasury Department issued Notice 2013–18, modifying and superseding Notice 2000–45. Notice 2013–18 removes blackberry, raspberry, and papaya plants from the list of plants that produce crops or yields that have a nationwide weighted average preproductive period in excess of 2 years. Rev. Proc. 2011–14 modified.

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