Bulletin No. 2013-22 May 28, 2013

of property definitions provided and also provides an extrapolation methodology an eligible taxpayer may use in connection with a change in method of accounting for determining the amount of a § 481(a) adjustment.

Rev. Proc. 2013–26, page 1160. This revenue procedure provides rules by which the Internal Revenue Service will allow a taxpayer to use the proportional method of accounting for original issue discount (“OID”) on pools of credit card receivables under section 1272(a)(6). The proportional method allocates to an accrual period an amount of unaccrued OID that is proportional to the amount of pool principal that is paid by cardholders during the period. This revenue procedure also describes the exclusive procedures by which a taxpayer may obtain the Commissioner’s consent to change to the proportional method. Rev. Proc. 2011–14 is modified.

Announcement 2013–32, page 1192. The IRS has revoked its determination that Grangeville Country Club, Inc. of Grangeville, ID., and Michael Joy Fine Arts Scholarship Fund of Victoria, TX., qualify as organizations described in sections 501(c)(3) and 170(c)(2) of the Code.

EMPLOYEE PLANS

REG–106796–12, page 1164. These proposed regulations provide guidance on the application of section 162(m)(6). Section 162(m)(6) limits the allowable deduction for remuneration for services provided by individuals to certain health insurance providers. Section 162(m)(6) was enacted as part of the Patient Protection and Affordable Care Act (Public Law 111–148, 124 Stat. 119, 868 (2010)).

(Continued on the next page)

Notice 2013–32, page 1137. This notice contains updates for the corporate bond weighted average interest rate for plan years beginning in May 2013; the 24-month average segment rates; the funding transitional segment rates applicable for May 2013; and the minimum present value transitional rates for April 2013. The rates in this notice reflect certain changes implemented by the Moving Ahead for Progress in the 21st Century Act, Public Law 112–141 (MAP-21).

EXEMPT ORGANIZATIONS

Announcement 2013–32, page 1192. The IRS has revoked its determination that Grangeville Country Club, Inc. of Grangeville, ID., and Michael Joy Fine Arts Scholarship Fund of Victoria, TX., qualify as organizations described in sections 501(c)(3) and 170(c)(2) of the Code.

May 28, 2013 2013–22 I.R.B.