Internal Revenue Bulletins  

November 27, 1989

Internal Revenue Bulletin No. 1989-48

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. 89-125
Interest rates; underpayments and overpayments. The rate of interest determined under section 6621 of the Code for the calendar quarter beginning January 1, 1990, will remain at 10 percent for overpayments and 11 percent for underpayments.

Rev. Rul. 89-126
Development expenditures; cost of drilling wells; carbon dioxide deposit. The costs of drilling a well seeking to exploit proven reserves of carbon dioxide qualifies as development expenditures under section 616(a) of the Code.

T.D. 8269
T.D. 8270

Final regulations under section 453A of the Code relate to installment method reporting by dealers in personal property.


EXEMPT ORGANIZATIONS

Announcement 89-149
A list is given of organizations now classified as private foundations.


EXCISE TAXES

Announcement 89-147
Petitions to add 2-ethyl hexanol, bisphenol-A, and alpha- methylstyrene to the list of taxable substances in section 4672(a)(3) of the Code have been filed.

Announcement 89-148
Petitions to add butyl acrylate, methyl acrylate, ethyl acrylate, and 2-ethylhexyl acrylate to the list of taxable substances in section 4672(a)(3) of the Code have been filed.


ADMINISTRATIVE

T.D. 8271
Final regulations under section 6103 of the Code relate to disclosure of returns and return information, in connection with the procurement of property and services for purposes of tax administration.

Announcement 89-150
Errors in Rev. Proc. 89-43, Publication 1220, and Rev. Proc. 89- 44, Publication 1255, for reporting information returns on magnetic media are corrected.

Announcement 89-151
Form W-2P, Statement for Recipients of Annuities, Pensions, Retired Pay, or IRA Payments, and Form 1099-R, Statement of Recipients of Total Distribution From Profit-Sharing, Retirement Plans, Individual Retirement Arrangements, Insurance Contracts, Etc., have been revised for 1990.

Announcement 89-152
The language of the highlight and headnote of Rev. Rul. 89-119 is corrected.


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