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. 97-43(PDF, 37K)
Consent to change accounting method to comply with section 475 mark-to-market rules. Automatic consent to change accounting methods is provided to certain taxpayers that become subject to section 475(a) of the Code. In order to receive automatic consent, the taxpayer must file a completed Form 3115, including a list of securities identified under section 475(b)(2), in the manner provided in this revenue procedure.
Rev. Rul. 97-39(PDF, 51K)
Mark-to-market accounting method for dealers in securities. This ruling provides guidance to enable taxpayers to comply with the mark-to-market requirements of section 475 of the Code. Rev. Ruls. 94-7 and 93-76 clarified, modified, partially obsoleted, and superseded.
Rev. Rul. 97-40(PDF, 35K)
Interest rates; underpayments and overpayments. The rate of interest determined under section 6621 of the Code for the calendar quarter beginning October 1, 1997, will be 8 percent for overpayments, 9 percent for underpayments, and 11 percent for large corporate underpayments. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 is 6.5 percent.
EXEMPT ORGANIZATIONS
Announcement 97-98(PDF, 34K)
A list is given of organizations now classified as private foundations.
ADMINISTRATIVE
Announcement 97-96(PDF, 31K)
The Service announces the number of medical savings accounts established as of June 30, 1997.
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