Internal Revenue Bulletins  

October 2, 1989

Internal Revenue Bulletin No. 1989-40

There are no links to the official documents for the years 1989 through 1995. The information below can only be used as help for further research, as there is not enough information here to rely on for official guidance. For that you need to obtain a copy of the complete document.


INCOME TAX

Rev. Rul. 89-111
Federal rates; adjusted federal rates; adjusted federal long-term rate, and the long-term exempt rate. For purposes of sections 1274, 1288, 382 and other sections of the Code, tables set forth the rates for October 1989.

Rev. Rul. 89-112
LIFO; price indexes; department stores. The June 1989 Bureau of Labor Statistics price indexes are accepted for use by department stores employing the retail inventory and last-in, first-out inventory methods for valuing inventories for tax years ended on, or with reference to, June 30, 1989.

Notice 89-102
Guidance is provided on the tax consequences associated with the receipt of Federal financial assistance in connection with the acquisition of a financially troubled institution.

Notice 89-102A
Two sentences were inadvertently omitted from Notice 89-102 in an advance release. This notice restores the omitted language. Notice 89-102 modified.

Notice 89-103
Taxpayers are retroactively required to add personal exemptions back to taxable income in computing alternative minimum taxable income.

Announcement 89-119
Various areas of the States of Alaska, Kentucky and Louisiana have been declared disaster areas in which losses qualify for the special tax treatment under section 165(i) of the Code.


EMPLOYEE PLANS

Notice 89-104
Guidelines are set forth for determining, for September 1989, the weighted average interest rate and the resulting permissible range of interest rates used to calculate current liability for purposes of the full funding limitation of section 412(c)(7) of the Code as amended by the Omnibus Budget Reconciliation Act of 1987.


EXEMPT ORGANIZATIONS

Announcement 89-120
A list is given of organizations now classified as private foundations and an organization that is not a private operating foundation.


ADMINISTRATIVE

T.D. 8259
FI-27-89

Temporary and proposed regulations under section 6049 of the Code relate to reporting requirements and other administrative matters for real estate mortgage investment conduits and other collateralized debt obligations.

Announcement 89-121
Notification of incorrect taxpayer identification numbers (TINs) for purposes of backup withholding was scheduled for October 1989. This notification is being delayed.

Announcement 89-122
Guidance is provided for claiming a refund for a tax overpayment resulting from the new deduction allowed under section 170(m) of the Code for 80 percent of an amount paid to a college or university for the right to purchase athletic tickets.

Announcement 89-123
An error in the 1987 and 1988 revisions of Publication 54, Tax Guide for U. S. Citizens and Resident Aliens Abroad, is corrected.

Announcement 89-124
The Service will not consider requests for private ruling letters dealing with the distribution of a U. S. real property interest by a trust or estate, and invites comments relating to its study of the tax consequences of such distributions under section 897 of the Code.

Announcement 89-125
The Service has made proposed changes to the 1990 Form W-2, Wage and Tax Statement.


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