Chief Counsel's Written Determinations Issued from 199940000 to 199944999

Taxpayer-specific rulings or determinations are written memoranda furnished by the IRS National Office in response to requests by taxpayers under published annual guidelines. Technical advice memoranda are written memoranda furnished by the National Office of the IRS upon request of a district director or chief appeals officer pursuant to annual review procedures. Chief Counsel advice are written advice or instructions prepared by the Office of Chief Counsel and issued to field or service center employees of the IRS or Office of Chief Counsel.

It is important to note that pursuant to 26 USC § 6110(j)(3), such items cannot be used or cited as precedent.

199944039(PDF, 70K)	11/5/1999
In the latest installment of the ongoing litigation, the district court in Tax Analysts v. Internal Revenue Service, 1999 U.S. Dist. LEXIS 14950 (D. D.C. Sept. 3, 1999) found the Service still is applying Freedom Of Information Act guidelines too restrictively, and ordered the release of previously redacted information from Field Service Advisories. The court suggested the Service follow the lead of the Department of Justice, whose policy states, "Justice [will] defend the assertion of a FOIA exemption only in those cases where the agency reasonably foresees that disclosure would be harmful to an interest protected by that exemption."
199944038(PDF, 22K)	10/19/1999
Requesting a ruling on behalf of Company under § 1362(b)(5) of the Internal Revenue Code. The information submitted discloses that Company was incorporated on a under the laws of State. Company has two shareholders, Shareholders. It is represented that Company has intended to be an S corporation since its incorporation.
199944037(PDF, 7K)	10/19/1999
Requesting a ruling on behalf of Company under § 1362(b)(5) of the Internal Revenue Code. The information submitted discloses that Company was incorporated on a under the laws of State. Company has two shareholders, Shareholders. It is represented that Company has intended to be an S corporation since its incorporation.
199944036(PDF, 6K)	10/28/1999
May 11, 1999, requesting a ruling on behalf of Company under § 1362(b)(5) of the Internal Revenue Code. The information submitted discloses that Company was incorporated on a in State. Company has one shareholder, Shareholder. It is represented that Company has intended to be an S corporation since its incorporation.
199944035(PDF, 7K)	10/19/1999
February 11, 1999, requesting a ruling on behalf of Company under § 1362(b)(5) of the Internal Revenue Code. The information submitted discloses that Company was incorporated on a in State. Company has two shareholders, Shareholders. It is represented that Company has intended to be an S corporation since its incorporation.
199944034(PDF, 7K)	10/19/1999
May 14, 1999, requesting a ruling on behalf of Company under § 1362(b)(5) of the Internal Revenue Code. The information submitted discloses that Company was incorporated under the laws of State. Company has one shareholder, Shareholder. It is represented that Company has intended to be an S corporation since its incorporation.
199944033(PDF, 12K)	10/19/1999
April 5, 1999, written by your authorized representative on behalf of Company, requesting inadvertent termination relief under § 1362(f) of the Internal Revenue Code. FACTS According to the information submitted, Company was incorporated on d1, and elected to be treated as an S corporation on d2.
199944032(PDF, 51K)	11/10/1999
3121(v) and Severance Payments This Technical Assistance responds to your request, dated June 30, 1999, concerning claims for refund with respect to amounts paid under a severance plan filed under § 3121(v)(2). You specifically ask about claims filed after the publication date of the Proposed Regulations but before the effective date of the Final Regulations.
199944031(PDF, 10K)	10/19/1999
Request dated March 17, 1999, for a supplemental ruling to PLR 9830016 ("Prior Letter Ruling") issued by our office on April 24, 1998. Specifically, you requested that certain factual changes to the Prior Letter Ruling have no effect on the rulings granted in the Prior Letter Ruling.
199944030(PDF, 12K)	10/19/1999
June 7, 1999, submitted on behalf of X, requesting a ruling under § 1362(f) of the Internal Revenue Code. Facts X is a corporation that was incorporated in State on D1. From D2 to D3, A was the sole shareholder in X.
199944029(PDF, 8K)	10/19/1999
March 26, 1999, submitted on behalf of X, requesting a ruling that rents received by X will not constitute "passive investment income" within the meaning of § 1362(d)(3)(C)(i) of the Internal Revenue Code.
199944028(PDF, 6K)	10/19/1999
February 17, 1999, and subsequent correspondence submitted on X's behalf, requesting a ruling under § 1362(b)(5) of the Internal Revenue Code. The information submitted states that X was incorporated on D1 of Year (1) The unanimous consent of board of directors of X reflects the intent of X to have X treated as an S corporation as of X's date of incorporation.
199944027(PDF, 12K)	10/19/1999
April 15, 1999, and prior correspondence submitted by your authorized representative on your behalf in which a ruling is requested concerning the generation-skipping transfer tax consequences of a proposed court construction of certain provisions in certain trusts.
199944026(PDF, 90K)	10/19/1999
Issues: (1) Whether the requirement in Internal Revenue Code § 882(c)(2) that a foreign corporation file a return "in the manner prescribed by subtitle F" to get the benefits of deductions and credits authorizes the Secretary to impose a timely filing requirement by regulation. (2) Whether I.R.C. § 882(c)(2), requiring that a return be timely filed by a foreign corporation to obtain the benefits of deductions and credits, conflicts with the allowance of deductions in the Business Profits Article of the Convention Between the United States of America and the Government of the United Kingdom of Great Britain and Northern Ireland for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and Capital Gains (hereafter referred to as the United States - United Kingdom Income Tax Convention).(3) Whether I.R.C. § 882(c)(2), requiring that a return be timely filed by a foreign corporation to obtain the benefits of deductions and credits, conflicts with the Non- Discrimination Article of the United States - United Kingdom Income Tax Convention.
199944025(PDF, 16K)	10/19/1999
Requesting a ruling regarding Taxpayer's substantial compliance with the requirements of § 1042 of the Internal Revenue Code of 1986 and the applicable regulations in connection with the sale of stock of the Company to the employee stock ownership plan (ESOP) maintained by the Company.
199944024(PDF, 9K)	10/19/1999
March 31, 1999 letter and subsequent correspondence submitted on behalf of Parent by Parent's authorized representative requesting relief under § 1362(b)(5) of the Internal Revenue Code and § 301.9100 of the Procedure and Administration Regulations.
199944023(PDF, 9K)	10/19/1999
July 2, 1999, submitted on behalf of X, requesting relief under § 1362(b)(5) of the Internal Revenue Code. FACTS X was incorporated under State law on D1. X's shareholder intended that X be a subchapter S corporation, effective D1; however, an S corporation election under § 1362 was not timely filed.
199944022(PDF, 43K)	10/19/1999
Issues: (1) Are payments from,, to family day care providers income from a trade or business? (2) Is required to issue Forms 1099 to family day care providers who receive payments of $600 or more per year?
199944021(PDF, 14K)	10/19/1999
April 26, 1999, requesting a ruling on behalf of X, a corporation, concerning the federal income tax consequences of a waiver of dividends by X. X previously requested and received a favorable ruling (PLR-19143-96) that X's waiver of dividends declared by Y did not result in income to X under facts substantially identical to the facts presented below.
199944020(PDF, 8K)	10/28/1999
Issue: Whether an annuity contract transferred to a partnership as partnership property may be considered as being held by a nonnatural person as an agent for natural persons within the meaning of § 72(u)(1) of the Internal Revenue Code?
199944019(PDF, 29K)	10/19/1999
September 30, 1998, for guidance regarding a dispute between the owner of low-income housing tax credit projects (Taxpayer) and the (Agency) over the adequacy of documentation used by Taxpayer with respect to student tenant eligibility and tenant employment verification. The issues are: (1) whether Agency is within its right to request specific documentation for Taxpayer's projects; and (2) whether Agency can treat Taxpayer's projects as in noncompliance if Agency determines that Taxpayer's documentation is inadequate.
199944017(PDF, 11K)	10/19/1999
June 8, 1999, seeking consent to revoke for Year A and subsequent calendar years thereafter, an election previously made by Fund 1, Fund 2, Fund 3, Fund 4, Fund 5, Fund 6, Fund 7, Fund 8, Fund 9, Fund 10, Fund 11 and Fund 12 (collectively "Fund or Funds") under § 4982(e)(4) (A) of the Internal Revenue Code of 1986 as amended ("the Code").
199944016(PDF, 9K)	10/28/1999
March 29, 1999, and subsequent correspondence, requesting rulings on behalf of X under § 708 of the Internal Revenue Code and regarding the applicability of two prior letter rulings.
199944015(PDF, 32K)	10/28/1999
Issue: Who is the proper party to file a claim with the Service seeking a refund of a former member's taxes paid in a consolidated tax return year based on a net operating loss arising in a subsequent separate return year.
199944014(PDF, 49K)	10/19/1999
Issues: (1) Whether the Internal Revenue Code § 481(a) adjustment necessitated by a change in accounting method required as a result of a transaction described in § 381(a)(2) is to be taken into account directly by Acquiring Subsidiaries 1 and 2, or whether the adjustment is properly reflected on the final returns of Target Parents 1 and(2) (2) In what tax year or years is the § 481(a) adjustment described above to be taken into account?
199944013(PDF, 86K)	10/19/1999
Issues: Whether legal fees incurred by A are currently deductible pursuant to Internal Revenue Code § 162(a), or capitalizable under § 263(a), in defending a lawsuit alleging the following causes of action: (1) fraud, conspiracy to commit fraud and breach of fiduciary duty surrounding the acquisition of C's partnership interest; (2) breach of contract, conversion, breach of fiduciary duty and dissolution of partnership with respect to A's and other defendants' conduct as partners which allegedly led to a decrease in the value of C's partnership interest.
199944012(PDF, 7K)	10/19/1999
July 14, 1999, submitted on behalf of X, requesting relief under § 1362(b)(5) of the Internal Revenue Code. FACTS: X was incorporated under State law on D1. X's shareholder intended that X be a subchapter S corporation, effective D2; however, an S corporation election under § 1362 was not timely filed.
199944011(PDF, 56K)	11/5/1999
In United States v. Morgan, 1999 U.S. App. LEXIS 10741 (11 th Cir. July 26, 1999), the first of a trio of appellate cases considering the Government's latest arguments on the issue of equitable tolling in bankruptcy,1 the Eleventh CInternal Revenue Codeuit concluded that the plain language of B.C. § 108(c) does not provide for the tolling of the priority period under B.C. § 507(a)(8)(A)(i) due to prior bankruptcy cases. However, the appellate court held that bankruptcy courts have the equitable power under B.C. § 105(a) to toll the priority period.
199944010(PDF, 8K)	10/19/1999
June 23, 1999, submitted on behalf of X, requesting relief under § 1362(b)(5) of the Internal Revenue Code. FACTS: X was incorporated on Date (1) The first date on which X had shareholders, acquired assets, or began doing business was Date 2.
199944009(PDF, 16K)	10/19/1999
Requesting a ruling regarding Taxpayer's substantial compliance with the requirements of § 1042 of the Internal Revenue Code of 1986 and the applicable regulations in connection with the sale of stock of the Company to the employee stock ownership plan (ESOP) maintained by the Company.
199944008(PDF, 16K)	10/19/1999
Requested two rulings be issued to A under § 301.9100-1(c) of the Procedure and Administration Regulations, on behalf of its wholly owned subsidiary B. One ruling requests permission for B to file a Form 970, Application To Use LIFO Inventory Method. The other ruling requests permission for B to file the statement referred to in § 1.263A-1T(e)(10)(iii) of the temporary Income Tax Regulations, which identifies that B will retain the LIFO layers for certain LIFO inventories acquired by B in a transfer under § 351 of the Internal Revenue Code.
199944007(PDF, 27K)	11/4/1999
Issue: What factors should be considered in valuing swaps under a mark-to-market method of accounting?
199944006(PDF, 39K)	10/19/1999
Issues: (1) The first issue is whether the newly-formed subsidiaries of the Taxpayer, an affiliated group that files a consolidated return, are considered to be in existence for the Taxpayer's entire consolidated return tax year, regardless of when the subsidiaries were formed during the year, for purpose of the short taxable year rules in Rev. Proc. 89-15, 1989-1 C.B. 816. (2) The second issue is whether certain license payments under the Contracts assumed by the Taxpayer's subsidiaries in the acquisition of television business assets are "assumed liabilities" under §§ 461 and 1060 of the Internal Revenue Code that must be taken into account as part of the purchase price. If these payments are assumed liabilities, must they be capitalized into the basis of the Contracts and amortized as § 197 intangibles under § 197(d)(1)(C)(iii)?
199944005(PDF, 18K)	10/19/1999
Issue: Are the gifts made by Daughter on behalf of Decedent under authority of a power of attorney includible in Decedent's gross estate for federal estate tax purposes?
199944004(PDF, 43K)	10/19/1999
Issues: May deductions for state taxes, interest thereon, or interest on federal taxes generate a specified liability loss within the meaning of § 172(f)(1)(B)1 ?
199944003(PDF, 18K)	10/19/1999
Issue: Whether Taxpayer's transfer of limited partnership interests to Taxpayer's children constitute gifts of present interests for purposes of § 2503(b) of the Internal Revenue Code.
199944001(PDF, 29K)	10/26/1999
Notification of Withdrawal of Ruling Request in PLR-116967-98
199943037(PDF, 80K)	10/12/1999
Issues: (1) If none of the other tax principles discussed in this memorandum applies to a business that borrows money under the old or new program, what are the federal income tax consequences to a business taxpayer of--( a) a loan made under the old program (and not refinanced under the new program)? (b) a loan made under the new program? (c) a loan made under the old program and refinanced under the new program? (2) Is § 1033 of the Internal Revenue Code (pertaining to deferral of gain recognition in the event of an involuntary conversion) available to a taxpayer borrowing money under the old or the new program?(3) Must a taxpayer borrowing money under the old or the new program take any income arising from the loan into account in determining the availability of a loss deduction under § 165?(4) Is § 118 (pertaining to contributions to capital) applicable to a corporate taxpayer borrowing money under the old or the new program?(5) Does the City of Grand Forks have any information reporting obligations under the Code with respect to loans under the old or the new program?
199943036(PDF, 18K)	10/12/1999
Rulings are requested as to the federal income tax consequences of a proposed transaction.
199943035(PDF, 5K)	10/15/1999
March 30, 1999, submitted on behalf of X, requesting a ruling under § 1362(b)(5) of the Internal Revenue Code. The information submitted states that X was formed on Date (1) A, as X's president, represents that it was A's intent that X elect to be an S corporation effective for Year 1, X's first taxable year.
199943034(PDF, 22K)	10/7/1999
Request for a private letter ruling concerning the application of § 265(a)(2) of the Internal Revenue Code to interest payments made by members of an affiliated group. FACTS Parent is the common parent of an affiliated group of corporations that files a consolidated return. X, a subsidiary of Parent, acts as a financing subsidiary for Parent and the other members of the Group.
199943033(PDF, 15K)	10/21/1999
February 8, 1999, requesting rulings under § 280G and 4999 of the Internal Revenue Code. Specifically you requested a ruling whether, under the facts outlined below, there will be a change in the ownership or effective control of Acquiring, or in the change in the ownership of a substantial portion of the assets of Acquiring within the meaning of § 280G(b)(2) of the Code.
199943032(PDF, 18K)	10/7/1999
Requesting a letter ruling under § 42(n)(4) of the Internal Revenue Code and § 1.42-13(b) of the Income Tax Regulations to correct an administrative error in an allocation of the low- income housing credit dollar amounts. Agency and Partnership represent that the facts are as follows: FACTS: Partnership is a State limited partnership that was formed on h for the purpose of developing land and constructing, owning, and operating a k unit residential rental project in City (the Project).
199943031(PDF, 11K)	10/7/1999
March 26, 1999, requesting a ruling that Company's rental income from the Properties is not passive investment income within the meaning of § 1362(d)(3)(C)(i) of the Internal Revenue Code. Company represents the following facts. Company, a State corporation, and its Shareholders elected under § 1362(a) to be an S corporation on a. It has accumulated subchapter C earnings and profits.
199943030(PDF, 96K)	10/12/1999
April 5, 1999, requesting rulings on the federal income tax consequences of a proposed transaction. You submitted additional information in letters dated June16, June 21 and July 19, 1999.
199943029(PDF, 7K)	10/12/1999
April 23, 1999, requesting a ruling on behalf of Company under § 1362(b)(5) of the Internal Revenue Code. The information submitted discloses that Company was incorporated on a in State. Company has one shareholder, Shareholder. It is represented that Company has intended to be an S corporation since its incorporation.
199943028(PDF, 7K)	10/7/1999
Requesting a ruling on behalf of Company under § 1362(b)(5) of the Internal Revenue Code. The information submitted discloses that Company was incorporated on a in State. Company has two shareholders, Shareholders. It is represented that Company has intended to be an S corporation since its incorporation.
199943027(PDF, 7K)	10/7/1999
Reference to a Form 1128, Application to Adopt, Change, or Retain a Tax Year, submitted on behalf of the above-named taxpayers, requesting permission to change their accounting period, for federal income tax purposes, from a taxable year ending, to a taxable year ending, effective The taxpayers have requested that the Form 1128 be considered timely filed under the authority contained in §301.9100-3 of the Procedure and Administration Regulations.
199943026(PDF, 7K)	10/7/1999
April 26, 1999, requesting a ruling on behalf of Company under § 1362(b)(5) of the Internal Revenue Code. The information submitted discloses that Company was incorporated on a in State. Company's principal shareholder is Shareholder. It is represented that Company has intended to be an S corporation since its incorporation.
199943025(PDF, 7K)	10/7/1999
Form 1128, Application to Adopt, Change, or Retain a Tax Year, submitted on behalf of the above-named taxpayers, requesting permission to change their accounting period, for federal income tax purposes, from a taxable year ending, to a taxable year ending, effective. The taxpayers have requested that the Form 1128 be considered timely filed under the authority contained in §301.9100-3 of the Procedure and Administration Regulations.
199943024(PDF, 5K)	10/21/1999
Form 1128, Application to Adopt, Change, or Retain a Tax Year, submitted on behalf of the above-named taxpayers, requesting permission to change their accounting period, for federal income tax purposes, from a taxable year ending, to a taxable year ending, effective The taxpayers have requested that the Form 1128 be considered timely filed under the authority contained in §301.9100-3 of the Procedure and Administration Regulations.
199943023(PDF, 6K)	10/7/1999
December 21, 1998, requesting a ruling on behalf of Company under § 1362(b)(5) of the Internal Revenue Code. The information submitted discloses that Company was incorporated on a in State. Company has two shareholders, Shareholders. It is represented that Company has intended to be an S corporation since its incorporation.
199943022(PDF, 6K)	10/7/1999
June 18, 1999, submitted on behalf of X, requesting relief under § 1362(b)(5) of the Internal Revenue Code. FACTS X was incorporated under State law on D1. X's shareholders intended that X be a subchapter S corporation, effective D2; however, an S corporation election under § 1362 was not timely filed.
199943021(PDF, 18K)	10/21/1999
March 2, 1999, for post-issuance review of an advisory opinion you gave the District Director on February 5, 1999. Your memorandum to the District Director follows the pre-issuance Chief Counsel Advice given to you by Branch 1 (General Litigation) regarding this same case on November 20, 1998.
199943020(PDF, 22K)	10/7/1999
March 12, 1998, on behalf of the above taxpayers, requesting an extension of time under §§ 301.9100-1 and 301.9100-3 of the Procedure and Administration Regulations to file an election.
199943019(PDF, 7K)	10/12/1999
March 24, 1999, submitted on behalf of Taxpayer, requesting an extension of time under Treasury Regulation § 301.9100-3 to permit Taxpayer to file Form 8279, Election To Be Treated as a FSC or as a Small FSC, as provided by Temp. Treas. Reg. § 1.921-1T(b)(1), Q&A 1, effective for the tax year beginning on Date A.
199943018(PDF, 23K)	10/7/1999
April 5, 1999, requesting, on behalf of the taxpayers identified in the above legend, an extension of time under §§ 301.9100-1 and 301.9100-3 of the Procedure and Administration Regulations to file elections.
199943017(PDF, 7K)	10/7/1999
May 3, 1999, together with subsequent correspondence, submitted on behalf of Company, requesting a ruling that the rental income received by Company from certain properties is not passive investment income within the meaning of § 1362(d)(3)(C)(i) of the Code.
199943016(PDF, 8K)	10/7/1999
June 17, 1999, submitted on behalf of X, requesting relief under § 1362(b)(5) of the Internal Revenue Code. Facts X was incorporated on Date (1) The shareholders of X desired that X elect S corporation treatment for X, effective on Date 1, but the election to be treated as an S corporation was not timely filed. Accordingly, X requests a ruling that it will be treated as an S corporation effective Date 1.
199943015(PDF, 11K)	10/7/1999
March 12, 1999, and subsequent correspondence submitted on behalf of X, requesting relief under § 1362(f) of the Internal Revenue Code. The information submitted states that X is a corporation organized under the laws of State Y.
199943014(PDF, 7K)	10/7/1999
May 14, 1999, submitted on behalf of X, requesting relief under § 1362(b)(5) of the Internal Revenue Code. FACTS X was incorporated under State law on D1. X's shareholders intended that X be a subchapter S corporation, effective D1; however, an S corporation election under § 1362 was not timely filed.
199943013(PDF, 11K)	10/7/1999
Requesting a waiver of the five-year waiting period imposed by § 1361(b)(3)(D) of the Internal Revenue Code to permit X to make qualified subchapter S subsidiary elections under § 1361(b)(3)(B). FACTS X is an S corporation incorporated under State law. On D1, X acquired all of the outstanding shares of Sub1 and Sub4 stock.
199943012(PDF, 6K)	10/21/1999
Responds to your March 23, 1999, and subsequent correspondence, submitted on behalf of X, requesting a ruling under § 1362(b)(5) of the Internal Revenue Code. The information submitted states that X was incorporated on D1. A and B, the sole shareholders of X, intended that X elect to be an S corporation beginning Year 1, its first taxable year.
199943011(PDF, 7K)	10/7/1999
June 14, 1999, submitted on behalf of X, requesting relief under § 1362(b)(5) of the Internal Revenue Code. FACTS: X was incorporated under State law on D1. X's shareholder intended that X be a subchapter S corporation, effective D2; however, an S corporation election under § 1362 was not timely filed.
199943010(PDF, 11K)	10/7/1999
March 9, 1999, and received March 29, 1999, requesting a ruling that Company's rental income from the Properties is not passive investment income within the meaning of § 1362(d)(3)(C)(i) of the Internal Revenue Code.
199943009(PDF, 8K)	10/7/1999
May 3, 1999, together with subsequent correspondence, submitted on behalf of X, requesting relief under § 1362(b)(5) of the Internal Revenue Code. Facts X was incorporated on Date (1) The sole shareholder of X desired that X elect S corporation treatment for X, effective on Date 1, but the election to be treated as an S corporation was not timely filed.
199943008(PDF, 18K)	10/7/1999
February 24, 1999, and subsequent correspondence dated May 13, 1999, on behalf of the Employer. The Employer has requested a ruling on the federal income tax consequences under § 83, 451 and 457 of the Internal Revenue Code with respect to the Plan. The Employer is represented to be a nonprofit corporation that is exempt from federal income tax under § 501(c)(3) of the Code.
199943007(PDF, 14K)	10/7/1999
Issue: Is the contribution of properties to UPREIT by PRS1 in exchange for UPREIT interests, the immediate distribution by PRS1 of the UPREIT interests to the partners in PRS1, and the refinancing of debt securing the contributed properties, a "single transaction" for purposes of § 1.752-1(f).
199943006(PDF, 15K)	10/7/1999
Issue: Is the contribution of properties to UPREIT by PRS1 in exchange for UPREIT interests, the immediate distribution by PRS1 of the UPREIT interests to the partners in PRS1, and the refinancing of debt securing the contributed properties, a "single transaction" for purposes of § 1.752-1(f).
199943005(PDF, 14K)	10/7/1999
Issue: Is the contribution of properties to UPREIT by PRS1 in exchange for UPREIT interests, the immediate distribution by PRS1 of the UPREIT interests to the partners in PRS1, and the refinancing of debt securing the contributed properties, a "single transaction" for purposes of § 1.752-1(f).
199943004(PDF, 24K)	10/12/1999
Issue: Whether the Department of Justice should be requested to file a petition to enforce the administrative summons served on the taxpayer?
199943003(PDF, 12K)	10/7/1999
Issue: If a discount is appropriate for Decedent's undivided interests in real property, is the discount limited to the estimated cost of a partition of the property?
199943002(PDF, 27K)	10/7/1999
Issues: (1) Whether periodic payments of damages that are calculated pursuant to an objective formula based on the performance of the Standard & Poor's 500 Stock Index and/or a mutual fund portfolio designed to achieve long-term growth of capital and moderate current income are "fixed and determinable as to amount and time of payment" under § 130(c)(2)(A);(2) Whether Claimant's perfection of a security interest in the annuity used to fund the periodic payments through physical possession of the annuity will accelerate the time she is treated as receiving the periodic payments.
199943001(PDF, 25K)	10/20/1999
Issue: Whether the Service Center's existing manual procedures for rejection of all claims of forged signatures on joint returns disregards the law as provided for under § 6064.
199942036(PDF, 22K)	9/30/1999
Issues: (1) Whether the release of a federal tax lien, pursuant to Internal Revenue Code § 6325(a), extinguishes the underlying tax liability. (2) Under what cInternal Revenue Codeumstances can a certificate of release of lien be revoked and the lien reinstated?
199942035(PDF, 18K)	9/30/1999
Proposed Internal Revenue Service-New York State Department of Taxation and Finance Joint Installment Agreements Memorandum of Understanding This office has reviewed the proposed Internal Revenue Service-New York State Department of Taxation and Finance Joint Installment Agreements Memorandum of Understanding (MOU).
199942034(PDF, 7K)	9/29/1999
Form 1128, Application to Adopt, Change, or Retain a Tax Year, submitted on behalf of the above-named taxpayers, requesting permission to change their accounting period, for federal income tax purposes, from a taxable year ending, to a taxable year ending, effective The taxpayers have requested that the Form 1128 be considered timely filed under the authority contained in §301.9100-3 of the Procedure and Administration Regulations.
199942033(PDF, 13K)	9/30/1999
June 14, 1999, and prior correspondence in which you request a ruling on the application of the generation-skipping transfer tax to two amendments to be made to the Trust agreement executed by the settlor with respect to Trust (3)
199942032(PDF, 13K)	9/30/1999
June 14, 1999, and prior correspondence in which you request a ruling on the application of the generation-skipping transfer tax to two amendments to be made to the Trust agreement executed by the settlor with respect to Trust (4)
199942031(PDF, 13K)	9/30/1999
June 14, 1999, and prior correspondence in which you request a ruling on the application of the generation-skipping transfer tax to two amendments to be made to the Trust agreement executed by the settlor with respect to Trust (3)
199942030(PDF, 13K)	9/30/1999
June 14, 1999, and prior correspondence in which you request a ruling on the application of the generation-skipping transfer tax to two amendments to be made to the Trust agreement executed by the settlor with respect to Trust (1)
199942029(PDF, 25K)	9/30/1999
March 15, 1999, letter requesting an extension of time, under § 301.9100-1 through 301.9100-3 of the Procedure and Administration Regulations, to make late elections. Purchaser (for itself and Parent, and as the deemed purchasing corporation) is requesting an extension of time to make late "section 338 elections" under § 338(g) of the Internal Revenue Code and § 1.338-1(d), with respect to the acquisitions of the stock of Target #1, Target #2 and Target #3 (sometimes hereinafter such elections are collectively referred to as the "Election" or "Elections") on Date A.
199942028(PDF, 6K)	9/29/1999
Form 1128, Application to Adopt, Change, or Retain a Tax Year, submitted on behalf of the above-named taxpayer, requesting permission to change its accounting period, for federal income tax purposes, from a 52-53-week taxable year ending on the, to a taxable year ending, effective The taxpayer has requested that the Form 1128 be considered timely filed under the authority contained in §301.9100-3 of the Procedure and Administration Regulations.
199942027(PDF, 24K)	9/29/1999
March 30, 1999, requesting an extension of time under §§ 301.9100-1 through 301.9100-3 of the Procedure and Administration Regulations to file an election. The extension is being requested by Parent (as the common parent of the consolidated group of which the United States shareholder of the controlled foreign purchasing corporation, and of the deemed controlled foreign purchasing corporation, is a member) to file elections under § 338(g) of the Internal Revenue Code and §§ 1.338-1(d) and 1.338-1(g) of the Income Tax Regulations,
199942026(PDF, 17K)	9/29/1999
February 16, 1999, in which you requested rulings on the application of the generation-skipping transfer tax provisions of Chapter 13 of the Internal Revenue Code with respect to proposed trust modifications.
199942025(PDF, 44K)	9/30/1999
Issue: Whether Corp A may deduct certain environmental cleanup costs even though they are subject to indemnification under the agreement to sell Corp A's stock made in a previous year.
199942024(PDF, 9K)	9/29/1999
March 15, 1999, requesting a ruling under Treasury Regulation § 301.9100-3 for an extension of time to file with the Internal Revenue Service the statement required by §§ 1.897-2 and 1.1445-2 certifying that an interest in Corp X was not a "U.S. real property interest" as defined under § 897 on or 30 days before Date A.
199942023(PDF, 12K)	9/29/1999
Requesting rulings concerning the application of § 216(b) of the Internal Revenue Code to Corporation. The represented facts are as follows. Corporation was formed on Date as a cooperative housing corporation under the laws of State. There are S residential apartments in the building to which T shares of stock are allocated.
199942022(PDF, 14K)	9/29/1999
Requesting rulings concerning the application of § 216(b) of the Internal Revenue Code to Corporation. The represented facts are as follows. In Year, Corporation became a cooperative housing corporation under the laws of State. There are s residential apartments in the building to which t shares of stock are allocated.
199942021(PDF, 7K)	9/29/1999
April 28, 1999, requesting a ruling on behalf of Company under § 1362(b)(5) of the Internal Revenue Code. The information submitted discloses that Company was incorporated on a in State. Company has two shareholders, Shareholders. It is represented that Company has intended to be an S corporation since its incorporation.
199942020(PDF, 36K)	9/29/1999
April 6, 1999, requesting a ruling on the proposed transaction.
199942019(PDF, 21K)	9/30/1999
June 9, 1999, and other correspondence, asking the Internal Revenue Service to rule on the transaction described below. FACTS: Parent is the common parent of an affiliated group of corporations that includes Company. Parent files a consolidated return for the group.
199942018(PDF, 14K)	10/14/1999
August 3, 1998, requesting rulings concerning the federal income tax consequences of a proposed transaction. In response to our requests, you submitted additional information in letters dated October 5, 1998, November 11, 1998, November 24, 1998, March 5, 1999 and April 28, 1999.
199942017(PDF, 12K)	9/29/1999
March 13, 1999, written on behalf of Company, requesting a ruling that Trust will be a permissible shareholder of a subchapter S corporation under § 1361(c)(2)(A)(i) of the Internal Revenue Code. FACTS: According to the information submitted, Company, a State limited liability company classified as a corporation for federal tax purposes, has elected under § 1362 to be taxed as an S corporation.
199942016(PDF, 18K)	9/29/1999
July 12, 1999, and prior correspondence from your authorized representative, requesting rulings on the gift, estate, and generation-skipping transfer tax consequences resulting from a court order construing and modifying a trust.
199942015(PDF, 11K)	9/30/1999
January 22, 1999, requesting a ruling under § 2032 of the Internal Revenue Code. Decedent established Trust, a revocable trust, on July 17, 1990. Decedent died on June 14, 1998, and trust became irrevocable.
199942014(PDF, 11K)	9/29/1999
December 30, 1998 submitted by A's authorized representative requesting a ruling under § 877(c) of the Internal Revenue Code of 1986 that A's loss of long-term resident status did not have for one of its principal purposes the avoidance of U.S. taxes under subtitle A or subtitle B of the Code.
199942013(PDF, 25K)	9/30/1999
July 28, 1998, you requested rulings concerning the estate, gift and generation-skipping transfer tax consequences of the proposed distribution of assets from Trust 1 to a newly created trust the terms of which are identical to Trust 1 except for the spendthrift provision.
199942012(PDF, 11K)	9/29/1999
Request for rulings concerning the deduction limitation of § 162(m) of the Internal Revenue Code. The facts, as presented by Company, are as follows. Company is a publicly-traded corporation. Company has had a nonqualified stock option plan since year a. The plan has included a reload feature since year b.
199942011(PDF, 19K)	9/30/1999
August 20, 1998, requesting rulings regarding the application of § 4976 of the Internal Revenue Code to the transfer of amounts held in Fund to Trust in order to provide postretirement medical benefits.
199942010(PDF, 19K)	10/14/1999
Requesting rulings under §§ 2041, 2518, and 2601 of the Internal Revenue Code. This letter responds to your request. The information submitted and the representations made are summarized as follows: On a, A established two irrevocable trusts, Trust 1 and Trust 2.
199942009(PDF, 12K)	9/29/1999
March 12, 1999, submitted on behalf of Company A, requesting various rulings relating to Company A's contemplated conversion under State Law from a corporation to a limited partnership. Company represents the following facts. Company A was incorporated in State on a and elected under § 1362(a) to be an S corporation that same date. Shareholder owns 100 percent of Company A's stock.
199942008(PDF, 30K)	9/30/1999
Issue: Whether the income of a private, nonprofit corporation established under state law to provide workers' compensation insurance is exempt from Federal income tax under Internal Revenue Code § 115(1) for the tax years 1992 through 1997.
199942007(PDF, 33K)	9/29/1999
Issue: Whether the sanctions imposed by Internal Revenue Code § 150(b)(3) apply where bonds purported to be tax-exempt, but the bond-financed facility was never actually used in a manner qualifying for tax-exempt financing.
199942006(PDF, 20K)	9/30/1999
Requesting a ruling concerning the proper application of the generation-skipping transfer tax under § 2601 et. seq. of the Internal Revenue Code to an exempt trust with a non-general power of appointment.
199942005(PDF, 30K)	9/30/1999
Issue: Whether Taxpayer's Surplus Notes must be included in surplus and capital under § 809(b)(2)(A) of the Internal Revenue Code for purposes of calculating Taxpayer's equity base under § 809(b)(2) for Tax Year.
199942003(PDF, 12K)	9/29/1999
Issue: Whether prepaid income that is properly taken into account in a tax period following an ownership change is treated as recognized built in gain, pursuant to § 382(h)(6)(A) of the Internal Revenue Code, when the income is taken into account in the post-change period.
199942002(PDF, 18K)	10/22/1999
Issues: (1) Under the facts described below, is the examining agent required to examine all of the taxpayer's expenditures related to track structure because the examining agent audited and proposed adjustments to some of the taxpayer's expenditures related to track structure? (2) Under the facts described below, must the examining agent apply the taxpayer's new method of accounting to certain expenditures related to track structure beginning in year a because the examining agent determined that those expenditures do not qualify for the investment tax credit for years a and b?
199942001(PDF, 21K)	9/30/1999
Issues: (1) Whether periodic payments of damages that are calculated pursuant to an objective formula based on the performance of the Standard & Poor's 500 Stock Index and/or a mutual fund portfolio designed to achieve long-term growth of capital and moderate current income are "fixed and determinable as to amount and time of payment" under § 130(c)(2)(A); 2.Whether Claimant's perfection of a security interest in the annuity used to fund the periodic payments through physical possession of the annuity will accelerate the time she is treated as receiving the periodic payments.
199941054(PDF, 17K)	10/7/1999
Film Participations and § 404 On July 16, 1999, we issued Chief Counsel Advice (CCA) (199936044) to you on the above-referenced subject.
199941042(PDF, 8K)	9/30/1999
Issues: (1) Assume that a taxpayer has filed a timely refund claim for one dollar fully setting forth the legal grounds and factual basis for the claim and, after the expiration of the statute of limitations for filing refund claims, the taxpayer files a supplemental claim for a greater amount. Is the supplemental claim a timely amendment to the original claim or is it a new claim that is untimely? Is there a specific time period within which the taxpayer must file the supplemental claim in order for it to be considered a timely amendment? (2) Should the Service Center treat the one dollar claim as a protective claim? If not, how should the claim be processed?(3) If the taxpayer files a general claim for refund, and does not inform the Service of the specific grounds for the refund prior to the expiration of the statute of limitations, is a supplemental claim considered timely if it explains the grounds for the original claim, but is submitted after the expiration of the statute of limitations?
199941041(PDF, 109)	9/30/1999
May 12, 1998, in which you requested rulings as to the federal income tax consequences of a proposed transaction. Additional information was submitted in letters dated May 20, 1998, September 28, 1998, November 24, 1998, December 22, 1998, January 20, 1999, February 3, 1999, March 11, 1999 and April 1, 1999.
199941040(PDF, 20K)	9/24/1999
Issue: Can assessments be made against taxpayers who have filed bankruptcy petitions?
199941039(PDF, 23K)	9/24/1999
The facts set forth in the April 2, 1999 letter are supplemented as follows: (1) Step iv - Add "Sub 4 will own the single interest in Sub 3-B1 LLC and Sub 3-B1 LLC will own the singe interest in Sub3 - B1a LLC". (2) Step vi - Add "Sub 4 will own the single interest in Sub 4-A1 LLC". (3) Step xi - Add "Sub 4 will own the single interest in Sub 8 LLC".
199941038(PDF, 27K)	9/24/1999
Issue: Whether the Service may access the Integrated Data Retrieval System (IDRS) to ascertain whether practitioners who submit Form 2848, Power of Attorney and Declaration of Representative, are current in their Federal income tax obligations.
199941037(PDF, 6K)	9/24/1999
Form 1128, Application to Adopt, Change, or Retain a Tax Year, submitted on behalf of the above-named taxpayers, requesting permission to change their accounting period, for federal income tax purposes, from a taxable year ending, to a taxable year ending, effective The taxpayers have requested that the Form 1128 be considered timely filed under the authority contained in §301.9100-3 of the Procedure and Administration Regulations.
199941036(PDF, 24K)	9/30/1999
Request on behalf of SSC, B, C, and D (collectively, the "Taxpayers") regarding the application of § 6041 of the Internal Revenue Code to checks paid to four individuals (E, F, G, and H) whom you know or suspect "sold" their rights to periodic payments of damages to factoring companies and checks paid to L, a garnishor that garnished certain periodic payments of damages.
199941035(PDF, 20K)	10/6/1999
October 5, 1998, request for rulings on certain federal income tax consequences of a transaction. Additional information was submitted in letters dated January 28, 1999, April 9, 1999, April 27, 1999, May 29, 1999, June 24, and July 15, 1999.
199941034(PDF, 15K)	9/27/1999
November 10, 1998, written on behalf of X requesting inadvertent termination relief under § 1362(f) of the Internal Revenue Code. FACTS: X was incorporated on Date 1, and elected to be an S corporation effective Date (1) A and B were shareholders of X on Date 1. B established Living Trust on Date 2 for estate planning purposes.
199941033(PDF, 35K)	9/27/1999
Issue: Whether, under the rules of Internal Revenue Code § 83, Company was required to recognize gain as a result of the grant of nonstatutory options for Company P shares to Company's employees and employees of Company's subsidiaries and affiliates.
199941032(PDF, 9K)	9/24/1999
January 6, 1999, in which Taxpayer requests an extension of time under Treasury Regulation § 301.9100-3 to file the agreement and certification described in § 1.1503-2A(c)(3) for the fiscal years ending ("FYE") 1, 2, and 3, as the case may be; and to replace the agreements filed under § 1.1503-2A(c)(3) with the agreement described in § 1.1503-2(g)(2)(i), as provided in § 1.1503-2(h)(2)(ii), for FYE (4) Supplementary information was submitted in letters dated March 29, 1999, and May 10, 1999.
199941031(PDF, 17K)	9/24/1999
Railroad Retirement Act Tax Status Attached for your information and appropriate action is a copy of a letter from the Railroad Retirement Board concerning the status under the Railroad Retirement Act and the Railroad Unemployment Insurance Act of...
199941030(PDF, 11K)	9/24/1999
January 14, 1999 and subsequent correspondence, on behalf of Entity E, requesting a ruling concerning the proposed amended and restated deferred compensation plan (the "Plan") which E intends to be an eligible deferred compensation plan under § 457(b) of the Internal Revenue Code of 1986, as amended under § 1447 and 1448 of the Small Business Job Protection Act of 1996.
199941029(PDF, 25K)	9/28/1999
March 12, 1999, for a revised schedule of ruling amounts in accordance with § 1.468A-3(i)(2) of the Income Tax Regulations. Taxpayer was previously granted a revised schedule of ruling amounts on May 11, 1993. Information for the schedule of ruling amounts was submitted on behalf of the Taxpayer pursuant to § 1.468A-3(h)(2).
199941028(PDF, 21K)	9/24/1999
June 24, 1998, requesting an extension of time under §§ 301.9100-1 through 301.9100-3 of the Procedure and Administration Regulations to file an election. The extension is being requested by Target (as the common parent of the consolidated group and as the successor to Purchaser) for Target to file a "section 338 election" under § 338(g) of the Internal Revenue Code and §§ 1.338-1(d) and 1.338(g) of the Income Tax Regulations, with respect to Purchaser's acquisition of Target stock and the deemed acquisition of Target Affiliates' stock (hereinafter collectively referred to as the "Election") on Date #2.
199941027(PDF, 6K)	9/24/1999
March 15, 1999, and subsequent correspondence, submitted on X's behalf, requesting that X be given an extension of time in which to elect to treat Sub as a qualified subchapter S subsidiary (QSSS) under § 1361(b)(3)(B) of the Internal Revenue Code.
199941026(PDF, 8K)	9/24/1999
May 4, 1999, requesting an extension of time under §§ 301.9100-1 through 301.9100-3 of the Procedure and Administration Regulations to file an election.
199941025(PDF, 14K)	9/24/1999
Requesting a ruling that waivers be granted pursuant to §§ 101(f)(3)(H) and 7702(f)(8) of the Internal Revenue Code, as applicable, with regard to the failure of certain contracts to satisfy the "guideline premium limitation" under §§ 101(f)(2) and 7702(c)(2), as applicable.
199941024(PDF, 18K)	9/24/1999
Response to your letter dated Date RR, and supplemental submissions, requesting a ruling that waivers be granted pursuant to §§ 101(f)(3)(H) and 7702(f)(8) of the Internal Revenue Code, as applicable, with regard to the failure of certain contracts to satisfy the "guideline premium limitation" under §§ 101(f)(2) and 7702(c)(2), as applicable. A ruling letter, LTR 199924028, was issued to Taxpayer on March 19, 1999, granting waivers pursuant to §§ 101(f)(3)(H) and 7702(f)(8), as applicable, with regard to the failure of x contracts listed in Exhibit A of that ruling.
199941023(PDF, 28K)	9/24/1999
Request for rulings, dated October 6, 1998, on the federal income tax consequences of a proposed transaction concerning a plan of rehabilitation under § 368(a)(1)(G) of the Internal Revenue Code. We received additional information in letters dated November 16, 1998, February 3, February 9, March 17, and July 12, 1999.
199941022(PDF, 20K)	9/24/1999
March 2, 1999, requesting an extension of time under §§ 301.9100-1 through 301.9100-3 of the Procedure and Administration Regulations to file an election.
199941021(PDF, 23K)	9/24/1999
March 17, 1999, requesting rulings regarding the use of amounts held in a separate account in Trust (Separate Account), which was established to provide post-retirement life insurance benefits, to provide other types of welfare benefits.
199941020(PDF, 11K)	9/24/1999
June 4, 1999, and prior correspondence submitted on behalf of B requesting an extension of time pursuant to §301.9100-3(a) of the Procedure and Administration Regulations to file an election for C to be disregarded as an entity separate from its owner for Federal tax purposes under § 301.7701-3(c).
199941019(PDF, 6K)	9/24/1999
March 5, 1999, concerning the federal income tax treatment of payments received under the provisions of a disability retirement pension.
199941018(PDF, 24K)	10/14/1999
March 5, 1999, concerning the federal income tax treatment of payments received under the provisions of a disability retirement pension. According to your submission, you were injured in the line of duty as a police officer of the Township and subsequently diagnosed with injury to your spinal cord, right arm and hand.
199941017(PDF, 28K)	10/1/1999
September 18, 1998, requesting a supplemental ruling to PLR 9824051 dated March 19, 1998 ("Prior Ruling Letter"). Additional information was submitted in letters dated November 20, 1998, February 19, 1999, March 2, 1999, and April 22, 1999.
199941016(PDF, 11K)	9/24/1999
Issues: (1) No fund or shareholder will recognize gain or loss on the conversion of institutional class shares to Class A shares of the same fund upon the termination of the institutional class;(2) Each shareholder's basis in the Class A shares received on the conversion will equal the shareholder's basis in the converted institutional class shares immediately before the conversion;(3) Each shareholder's holding period for the Class A shares received on the conversion will include the shareholder's holding period for the converted institutional class shares, provided that the shareholder held those converted shares as capital assets immediately before the conversion; and(4) Neither the establishment nor the implementation of the conversion rights will be deemed a distribution of stock or stock rights taxable to any Fund shareholders under § 305(b) or (c) of the Internal Revenue Code.
199941015(PDF, 39K)	9/24/1999
Issues: (1) Whether the amount of discharge of indebtedness income of a partnership to be included in each partner's taxable income for the partner's taxable year is properly characterized as an affected partnership item which requires factual determinations at the partner level such that a notice of deficiency must be issued. (2) Whether assessments of tax on agreed increases in discharge of indebtedness partnership income made as computational adjustments as to the individual partners rather than pursuant to deficiency procedures are valid assessments.(3) Whether the Service may abate invalid assessments.(4) Whether the Service may refund payments of tax made in response to an invalid assessment.(5) Whether Counsel has an ethical obligation to advise the taxpayers of the invalid assessments and the possibility of filing a refund claim.
199941014(PDF, 33K)	10/6/1999
Issues: (1) X has a suit pending in the Court02 claiming a refund for the taxable year Year02. Should the government's counterclaim in the refund suit be increased? (2) Under Internal Revenue Code § 6411, a tentative refund of $Amount01 for Year02 was allowed based on X's Form 1139. Examination determined that $Amount02 of this refund should not be allowed. Can the IRS directly assess the $Amount02 without using the normal deficiency procedures?(3) In its Form 1139, X claimed that it was entitled to use Method01 in computing its income and claimed entitlement to an alternative minimum tax credit. The AMT credit claimed on the Form 1139 related to the use of Method01 on X's Year01 return. Is X liable for the accuracy-related penalty attributable to negligence?(4) If the negligence penalty is imposed, may this penalty be assessed without using the normal deficiency procedures?
199941013(PDF, 7K)	9/24/1999
Issue: Whether prepaid tuition payments made by Decedent on behalf of Grandchild 1 and Grandchild 2 to School, an educational institution described in §170(b)(1(A)(ii) of the Internal Revenue Code, qualify as qualified transfers for purposes of the gift tax exclusion under § 2503(e).
199941012(PDF, 19K)	9/24/1999
Request, dated April 28, 1999, for rulings under §§ 29(c) and 7805(b) of the Internal Revenue Code. The information submitted and the representations made are summarized as follows: Taxpayer acquired and will acquire, for production and possible sale, leases that cover lands in State 1 and State 2 on which are located approximately a wells.
199941011(PDF, 43K)	9/24/1999
Issue: Whether a payment to settle various lawsuits constitutes a specified liability loss within the meaning of § 172(f)(1) and is, therefore, eligible for a ten-year carryback.
199941010(PDF, 53K)	9/24/1999
Issue: Whether the Service is authorized to abate interest under Internal Revenue Code § 6404(e) when the tax relates solely to TEFRA partnership items.
199941009(PDF, 78K)	9/24/1999
Issues: (1) Whether the income forecast method of depreciation may be used to amortize purchased mortgage servicing rights. (2) Assuming that the income forecast method may be so used, whether income forecast amortization reported on original returns using mid-year data may be recomputed on amended returns using end-year data.
199941008(PDF, 45K)	9/24/1999
Issues: (1) Whether Taxpayer's two settlement payments of $Y, to the parent corporation of an independent distributor and to the 100 percent owner of that parent corporation, resolving a legal dispute over the termination of the independent distributor's right to distribute Taxpayer's products are deductible under Internal Revenue Code § 162 or capitalized under § 263. (2) Whether professional service costs, including internal and external accounting and legal fees, incurred in connection with the settlement of the legal dispute are deductible under § 162 or capitalized under § 263.
199941007(PDF, 50K)	10/6/1999
Issues: Whether, based on the facts of this case, application of § 882(c)(2), as interpreted by Treasury Regulation § 1.882-4, violates paragraph 3 of Article VII ("the Business Profits Article") and paragraph 6 of Article XXV ("the Non-discrimination Article") of the Convention Between the United States of America and Canada with Respect to Taxes on Income and on Capital, Signed at Washington, D.C. on September 26, 1980, as Amended by the Protocol Signed at Ottawa on June 14, 1983 and the Protocol Signed at Washington on March 28, 1984, both effective August 16, 1984 ("the 1984 Treaty").
199941006(PDF, 40K)	9/24/1999
Issue: May a § 165(a)1 loss deduction for capitalized legal and other professional fees generate a specified liability loss as defined in § 172(f)(1)(B)?
199941005(PDF, 37K)	10/6/1999
Issue: Whether, in the exchange of multiple assets between Taxpayer and Unrelated Party, it was proper to classify certain assets in a single exchange group for purposes of computing the gain or loss to be deferred under Internal Revenue Code § 1031.
199941004(PDF, 22K)	9/24/1999
Issue: Does the charitable remainder trust created under Decedent's Trust satisfy the requirements of § 2055(e) of the Internal Revenue Code so that Decedent's estate is eligible for a deduction under § 2055 for the present value of the remainder interest of the charitable remainder trust?
199941003(PDF, 20K)	10/14/1999
Issue: Whether the Commissioner may, in response to the petitioner's informal discovery request, disclose information received from the taxing authorities of Country A.
199941002(PDF, 35K)	9/28/1999
Issues: (1) Was the prepetition portion of a tax refund for the year of bankruptcy property of the estate where the debtor did not make an election pursuant to Internal Revenue Code § 1398(d)(2) to terminate the tax year. (2) Did the taxpayers have a right to elect application of a prepetition tax refund for the year of bankruptcy, to be applied to a subsequent tax year after signing a stipulation only with the trustee but not the Internal Revenue Service (IRS) to turnover the refund to the bankruptcy estate.(3) Was the Internal Revenue Service (IRS) required to turnover the tax refund to the trustee pursuant to a stipulation with the taxpayer but not the IRS.
199941001(PDF, 14K)	9/24/1999
Issue: Whether interest on deferred tax liability under § 453A(b)(2) applies to the sale of producing gas properties in which a production payment is retained by the seller, A.
199940032(PDF, 26K)	9/20/1999
July 29, 1999, request for pre-review of your memorandum to the Delaware-Maryland District Director concerning the above referenced case. We agree that if the ex-wife was properly in the chain of title, the Service's § 6321 tax liens attached to the property in the hands of the children, and the Service has the right to collect from the proceeds of the property.
199940031(PDF, 17K)	9/20/1999
Issue: Whether the Internal Revenue Service has a legal basis to proceed with the sale of two parcels of real estate seized on Date A.
199940030(PDF, 12K)	9/20/1999
January 25, 1999, in which you request an extension of time to make an election under § 108(c) of the Internal Revenue Code. Specifically, you have requested an extension of time to make an election under § 108(c) and § 1.108(c)-1 of the Income Tax Regulations to reduce the basis of depreciable property and to exclude income resulting from the discharge of qualified real property business indebtedness.
199940029(PDF, 6K)	9/20/1999
January 4, 1999, and subsequent correspondence, submitted on behalf of X, requesting a ruling under § 1362(b)(5) of the Internal Revenue Code. The information submitted states that X was organized on Date (1) A, as X's president, represents that it was A's intent that X elect to be an S corporation effective for Year 1, X's first taxable year.
199940028(PDF, 19K)	9/20/1999
March 10, 1999 requesting a ruling that the purchase by your clients of a life insurance policy on the lives of their parents did not constitute a "transfer for value" under § 101 of the Internal Revenue Code. Your April 14 th and 26 th, 1999 letters provided supplemental information respecting that request.
199940027(PDF, 7K)	9/20/1999
March 31, 1999, requesting a ruling on behalf of Company under § 1362(b)(5) of the Internal Revenue Code. The information submitted discloses that Company was incorporated on a in State. Company has two shareholders, Shareholders. It is represented that Company has intended to be an S corporation since its incorporation.
199940026(PDF, 7K)	9/20/1999
February 22, 1999, requesting a ruling on behalf of Company under § 1362(b)(5) of the Internal Revenue Code. The information submitted discloses that Company was incorporated on a in State. Company has one shareholder, Shareholder. It is represented that Company has intended to be an S corporation since its incorporation.
199940025(PDF, 12K)	9/20/1999
Request for a ruling under § 117(d) of the Internal Revenue Code of 1986 respecting the continuing excludability from gross income of certain benefits provided by the taxpayer under a tuition reduction plan, the Plan. The National Office (CP:E:EP:R:7) previously issued a letter ruling to the taxpayer respecting the Plan on June 14, 1994 (IR LTR 9436050).
199940024(PDF, 7K)	9/20/1999
February 25, 1999, requesting a ruling on behalf of Company under § 1362(b)(5) of the Internal Revenue Code. The information submitted discloses that Company was incorporated on a in State. Company has one shareholder, Shareholder. It is represented that Company has intended to be an S corporation since its incorporation.
199940023(PDF, 12K)	9/20/1999
May 10, 1999, request for a ruling on whether X is liable for the tax imposed by § 4161(a) of the Internal Revenue Code on the sale of sport fishing equipment by the manufacturer.
199940022(PDF, 7K)	9/20/1999
December 12, 1998 letter and subsequent correspondence requesting relief under § 1362(b)(5) of the Internal Revenue Code.
199940021(PDF, 35K)	9/29/1999
Request for a ruling on behalf of X and Y, concerning the federal income tax consequences of the establishment of Plan B and a trust to assist X in providing benefits to certain participants in Plan A whose benefits have been limited by § 415 of the Internal Revenue Code.
199940020(PDF, 16K)	9/20/1999
July 6, 1988, and subsequent correspondence, submitted on behalf of Company, requesting a ruling under § 1362(f) of the Internal Revenue Code. FACTS: You have represented the following facts. Company was incorporated on Date (1) Company elected to be treated as an S corporation for its tax year beginning Date 2.
199940019(PDF, 11K)	9/20/1999
February 26, 1999, submitted by your authorized representative requesting a ruling under § 877(c) of the Internal Revenue Code of 1986 that your loss of lawful permanent U.S. resident status did not have for one of its principal purposes the avoidance of U.S. taxes under subtitle A or subtitle B of the Code.
199940018(PDF, 45K)	9/20/1999
Broken File
199940017(PDF, 12K)	9/20/1999
February 26, 1999, submitted by your authorized representative requesting a ruling under § 877(c) of the Internal Revenue Code of 1986 that your loss of lawful permanent U.S. resident status did not have for one of its principal purposes the avoidance of U.S. taxes under subtitle A or subtitle B of the Code.
199940016(PDF, 22K)	9/20/1999
Railroad Retirement Act Tax Status Attached for your information and appropriate action is a copy of a letter from the Railroad Retirement Board concerning the status under the Railroad Retirement Act and the Railroad Unemployment Insurance Act of:
199940015(PDF, 12K)	9/20/1999
February 26, 1999, on behalf of State X requesting a ruling on the federal tax consequences of the Plan. State X intends the Plan to be an eligible deferred compensation plan under § 457 of the Internal Revenue Code of 1986. State X is an eligible employer within the meaning of § 457(e)(1)(A).
199940014(PDF, 35K)	9/20/1999
Issue: Whether, under the rules of Internal Revenue Code § 83, Company may deduct the compensation income resulting from its employees' exercise of nonstatutory options on its returns filed for its taxable years during which the options were exercised (Company's normal method of accounting).
199940013(PDF, 27K)	9/20/1999
December 31, 1998, requesting rulings concerning the federal income tax consequences of proposed transactions. A somewhat similar plan approved in a private letter ruling over 10 years ago was never consummated.
199940012(PDF, 106K)	7/2/1999
Issues: (1) Whether the requirement in I.R.C. § 882(c)(2) that a foreign corporation file a return “in the manner prescribed by subtitle F” to get the benefits of deductions and credits authorizes the Secretary to impose a timely filing requirement by regulation. (2) Whether I.R.C. § 882(c)(2), requiring that a return be timely filed by a foreign corporation to obtain the benefits of deductions and credits, conflicts with the allowance of deductions in the Business Profits Article of the Convention Between the United States of America and the Federal Republic of Germany for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and Capital and to Certain Other Taxes (hereafter referred to as the United States - Germany Income Tax Convention).
199940011(PDF, 74K)	9/20/1999
Issue: Whether the dividend paid to Taxpayer by Distributing in the amount of $ o (or in conjunction with any other dividends that should be aggregated under § 1059(c)(3)) concurrent with a series of transactions is an "extraordinary dividend" within the meaning of § 1059, thus serving to reduce Taxpayer's adjusted basis in Distributing stock in an amount equal to the portion of the dividend excluded from gross income under § 243?
199940010(PDF, 22K)	9/20/1999
January 20, 1999, requesting, on behalf of the Parent, an extension of time under § 301.9100-1 through 301.9100-3 of the Procedure and Administration Regulations to file an election. The extension is being requested for Parent (as the common parent of the affiliated group which contains the United States shareholders of the controlled foreign purchasing corporation) to file an election under § 338(g) of the Internal Revenue Code and § 1.338-1(d) of the Income Tax Regulations, with respect to Purchaser's acquisition of the target corporations stock (hereinafter referred to as the "Election"), on Date 2.
199940009(PDF, 30K)	9/20/1999
Issues: (1) X and Y are small business corporations that elected, pursuant to § 6(c)(3) of the Subchapter S Revisions Act of 1982 to have that act not apply. Therefore, their tax liability is computed on the basis of the Subchapter S law as it existed in 1982. The companies are currently filing their income tax returns, Forms 1120S, using the 1982 forms. May the companies continue to use this form? (2) X and Y also computed their preference items, for the purposes of the alternative minimum tax, using 1982 law. May the companies apply the 1982 law for this purpose?
199940008(PDF, 9K)	9/20/1999
September 22, 1998, written on behalf of X, requesting a ruling under § 1362(b)(5) of the Internal Revenue Code that X's S corporation status will be effective as of the taxable year beginning D1. FACTS: According to the information submitted, X was incorporated on D1.
199940007(PDF, 68K)	9/20/1999
Issue: What is the proper characterization of the Instruments for federal income tax purposes?
199940006(PDF, 27K)	9/30/1999
May 3, 1999, to, employment tax coordinator for the District. referred your letter to our office for a response. You state that in the legislature passed legislation that provides for an exclusion of services performed by direct sellers for unemployment insurance purposes. of the states:
199940005(PDF, 15K)	9/20/1999
Issue: For purposes of computing the "adjusted tax difference with respect to the estate" under § 2032A(c)(2)(C) of the Internal Revenue Code, is the amount of the state death tax credit allowed limited to the amount actually paid by the estate, or is the state death tax credit redetermined based upon the increased value of the taxable estate as if there had been no § 2032A election?
199940004(PDF, 39K)	10/5/1999
Issues: (1) Do the transition rules of the Proposed Regulations under § 3121(v)(2) of the Internal Revenue Code apply to Taxpayer's claims for refund? (2) Do Taxpayer's claims for refund, filed under § 3121(v)(2) after the publication date but before the effective date of the Proposed Regulations, satisfy the requirements for a "good faith, reasonable interpretation"?(3) Should Taxpayer's claims for refund treating severance pay as nonqualified deferred compensation under § 3121(v)(2) for years preceding the effective date of the proposed regulations be granted?
199940003(PDF, 29K)	9/20/1999
December 3, 1998 request for rulings on certain federal income tax consequences of a series of proposed transactions. Distributing and its affiliates were the subject of rulings on prior transactions during Period C (the "Prior Ruling Letters").
199940002(PDF, 47K)	9/20/1999
Issue: Whether Amounts Paid to Employees as Rig Rentals are Wages for Federal Employment Tax Purposes?
199940001(PDF, 9K)	9/20/1999
Issue: Whether the installation of X on the taxpayer's trucks causes the taxpayer to incur liability for the excise tax on truck parts and accessories under § 4051(b)(1) of the Internal Revenue Code.

You can search the entire Tax Professionals section, or all of Uncle Fed's Tax*Board. For a more focused search, put your search word(s) in quotes.

1999 Chief Counsel'sWritten Determinations

1999 Chief Counsel's
Written Determinations