Links to Official IRS Bulletin Documents listed below are in the Adobe Acrobat PDF Format, and require the appropriate Acrobat Reader to view and/or print.

INCOME TAX

Rev. Proc. 96-47(PDF, 17K)
Regulated investment companies; preferential dividends. Conditions are described under which distributions made to shareholders of a regulated investment company may vary and, nevertheless, be considered as dividends for purposes of computing the dividends paid deduction.

Rev. Rul. 96-45(PDF, 13K)
Low-income housing credit; satisfactory bond; "bond factor" amounts for the period July through September 1996. This ruling announces the monthly bond factor amounts to be used by taxpayers who dispose of qualified low-income buildings or interests therein during the period July through September 1996.

Rev. Rul. 96-46(PDF, 48K)
LIFO; price indexes; department stores. The July 1996 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, July 31, 1996.

Notice 96-45(PDF, 11K)
Guidelines are set forth for determining for September 1996, 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 and by the Uruguay Round Agreements Act (GATT).

Announcement 96-96(PDF, 15K)
A list is given of organizations now classified as private foundations.

Announcement 96-99(PDF, 13K)
A list is provided of organizations that no longer qualify as organizations to which contributions are deductible under section170 of the Code.

Notice 96-46(PDF, 30K)
Taxes on excess benefit transactions. This notice describes new Code section 4958 excise taxes on excess benefits transactions engaged in between certain tax-exempt organizations and their disqualified persons. It also specifies the tax return form to be used in paying these taxes and prescribes the time for their payment.

Notice 96-47(PDF, 17K)
Exemption from tax on corporations, certain trusts, etc. This notice describes the amendment to Code section 501(c)(4) to expressly prohibit increment of any part of the net earnings of an entity otherwise described in that section to the benefit of any private shareholder or individual.

Notice 96-48(PDF, 24K)
Publicity of information required from certain tax exempt organizations and certain trusts. This notice describes disclosure requirements for, and increases of certain Penalties on, tax-exempt organizations.

Announcement 96-97(PDF, 22K)
INTL-0003-95, 1996-6 I.R.B. 29, relating to the source of income from sales of natural resources or other inventory produced in the United States and sold in a foreign country, is corrected.

Announcement 96-98(PDF, 15K)
INTL-4-95, 1996-36 I.R.B. 8, relating to the allocation of loss realized on the disposition of stock, is corrected.

Rev. Proc. 96-48(PDF, 703K)
Substitute printed, computer-prepared, and computer generated tax forms and schedules. Requirements are set forth for privately designed and printed federal tax return forms and the conditions under which the Service will accept computer-prepared and computer-generated tax forms and schedules. Rev. Procs. 95-16 and 95-46 are superseded.