1999 Revenue Rulings
A "Revenue Ruling" is an official interpretation by the Service of the Internal Revenue Code, related statutes, tax treaties, and regulations. It is the conclusion of the Service on how the law is applied to a specific set of facts. A revenue ruling states the Service position on an issue. Revenue rulings are issued only by the National Office and are published in the Internal Revenue Bulletin for the information and guidance of taxpayers, Service personnel, and others concerned.
For more information about revenue procedures see Revenue Procedure 89-14, or, the Guide to Understanding the Differences Among Official IRS Documents.
Revenue Rulings are in the Adobe Acrobat PDF format.
Internal Revenue Bulletin Summary pages are in HTML format.
| Revenue Rulings |
Bulletin |
Date of IRB |
 |
| Rev. Rul. 99-58(PDF, 11K) |
IRB #1999-52(HTML) |
Dec. 27, 1999 |
| Continuity of interest on repurchase of issuer's shares. This ruling holds that an open market repurchase of shares through a broker, following a potential reorganization, has no effect on continuity of interest in a potential reorganization. |
| Rev. Rul. 99-57(PDF, 20K) |
IRB #1999-51(HTML) |
Dec. 20, 1999 |
| Applying section 1032 to partnership transaction. This ruling explains the tax consequences to a partnership and a corporate partner where the corporate partner contributes its own stock to the partnership, and the partnership later exchanges the stock with a third party in a taxable transaction. |
| Rev. Rul. 99-56(PDF, 10K) |
IRB #1999-51(HTML) |
Dec. 20, 1999 |
| Timber casualty losses. The decisions in Westvaco Corp. v. United States and Weyerhaueser v. United States pertain to single, identifiable property (SIP) in relation to casualty losses. Rev. Ruls. 66-9 and 73-51 revoked. |
| Rev. Rul. 99-55(PDF, 11K) |
IRB #1999-51(HTML) |
Dec. 20, 1999 |
| LIFO; price indexes; department stores. The October 1999 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, October 31, 1999. |
| Rev. Rul. 99-54(PDF, 10K) |
IRB #1999-51(HTML) |
Dec. 20, 1999 |
| Low-income housing credit; satisfactory bond; "bond factor" amounts for the period October through December 1999. 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 October through December 1999. |
| Rev. Rul. 99-53(PDF, 24K) |
IRB #1999-50(HTML) |
Dec. 13, 1999 |
| Interest rates; underpayments and overpayments. The rate of interest determined under section 6621 of the Code for the calendar quarter beginning January 1, 2000, will be 8 percent for overpayments (7 percent in the case of a corporation), 8 percent for underpayments, and 10 percent for large corporate underpayments. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 is 5.5 percent. |
| Rev. Rul. 99-52(PDF, 25K) |
IRB #1999-50(HTML) |
Dec. 13, 1999 |
| 1999 base period T-bill rate. The base period T-bill rate, under section 995 of the Code, is 4.80 percent for the period ending September 30, 1999. |
| Rev. Rul. 99-51(PDF, 15K) |
IRB #1999-50(HTML) |
Dec. 13, 1999 |
| Nondiscrimination; duplicate benefits. This ruling provides that the duplication of benefits for highly compensated employees may result in the failure of plans to satisfy the nondiscrimination requirements of section 401(a)(4) of the Code. |
| Rev. Rul. 99-50(PDF, 20K) |
IRB #1999-50(HTML) |
Dec. 13, 1999 |
| Section 1274A inflation-adjusted numbers for 2000. This ruling provides the dollar amounts, increased by the 2000 inflation adjustment, for section 1274A of the Code. Rev. Rul. 98-58 supplemented and superseded. |
| Rev. Rul. 99-49(PDF, 12K) |
IRB #1999-50(HTML) |
Dec. 13, 1999 |
| CPI adjustments for below-market loans for 2000. The amount that section 7872(g) of the Code permits a taxpayer to lend to a qualified continuing care facility without incurring imputed interest is adjusted for years 1987-2000. Rev. Rul. 98-59 supplemental and superseded. |
| Rev. Rul. 99-48(PDF, 16K) |
IRB #1999-49(HTML) |
Dec. 6, 1999 |
| 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 December 1999. |
| Rev. Rul. 99-47(PDF, 21K) |
IRB #1999-48(HTML) |
Nov. 29, 1999 |
| Covered compensation tables for 2000. The covered compensation tables for the year 2000 used for determining contributions to defined benefit plans and permitted disparity are set forth. |
| Rev. Rul. 99-46(PDF, 16K) |
IRB #1999-45(HTML) |
Nov. 8, 1999 |
| 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 rates for November 1999. |
| Rev. Rul. 99-45(PDF, 16K) |
IRB #1999-45(HTML) |
Nov. 8, 1999 |
| LIFO; price indexes; department stores. The September 1999 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, September 30, 1999. |
| Rev. Rul. 99-44(PDF, 20K) |
IRB #1999-44(HTML) |
Nov. 1, 1999 |
| Gifts; charitable contributions; Individual Development Accounts. This ruling holds that (1) interest earned by an Individual Development Account (IDA) project participant on funds deposited in the participant's personal account is currently includible in the participant's gross income under section 61 of the Code; (2) a project participant may exclude, as a gift under section 102, parallel funds paid for a qualified expense of the project participant; and (3) a donor may deduct under section 170 a contribution to a qualified entity for the qualified entity's IDA project, subject to the limitations of that section. |
| Rev. Rul. 99-43(PDF, 32K) |
IRB #1999-42(HTML) |
Oct. 18, 1999 |
| Partnership allocations; cancellation of nonrecourse indebtedness. This ruling provides guidance on the substantiality of special allocations made by amendments to a partnership agreement after the events giving rise to the specially allocated items have occurred. |
| Rev. Rul. 99-42(PDF, 17K) |
IRB #1999-41(HTML) |
Oct. 12, 1999 |
| LIFO; price indexes; department stores. The August 1999 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, August 31, 1999. |
| Rev. Rul. 99-41(PDF, 14K) |
IRB #1999-40(HTML) |
Oct. 4, 1999 |
| Federal rates; adjusted federal rates; adjusted federal long-term rate, and the long-term exempt rate. For purposes of sections 1274, 1288, and 382, and other sections of the Code, tables set forth the rates for October 1999. |
| Rev. Rul. 99-40(PDF, 21K) |
IRB #1999-40(HTML) |
Oct. 4, 1999 |
| Interest on underpayments; credits against estimated tax. Rules are provided for determining the date from which interest will be assessed when an overpayment claimed on a return is credited to the succeeding year's estimated tax or refunded without interest, and a deficiency for the overpayment year is subsequently determined. Rev. Ruls. 88-98, 84-58, and 77-475 modified and superseded. |
| Rev. Rul. 99-39(PDF, 13K) |
IRB #1999-38(HTML) |
Sept. 20, 1999 |
| Low-income housing tax credit. Certain rental assistance payments made to a building owner on behalf of, or in respect to, a tenant under the Housing Opportunities for Persons With AIDS program are not grants made with respect to a building or its operation under section 42(d)(5) of the Code. |
| Rev. Rul. 99-38(PDF, 16K) |
IRB #1999-36(HTML) |
Sept. 7, 1999 |
| Low-income housing credit; satisfactory bond; "bond factor" amounts for the period July through September 1999. 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 1999. |
| Rev. Rul. 99-37(PDF, 10K) |
IRB #1999-36(HTML) |
Sept. 7, 1999 |
| 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 September 1999. |
| Rev. Rul. 99-36(PDF, 16K) |
IRB #1999-35(HTML) |
Aug. 30, 1999 |
| Interest rates; underpayments and overpayments. The rate of interest determined under section 6621 of the Code for the calendar quarter beginning October 1, 1999, will be 8 percent for overpayments (7 percent in the case of corporate overpayments), 8 percent for underpayments, 5.5 percent for the portion of a corporate overpayment exceeding $10,000, and 10 percent for large corporate underpayments. |
| Rev. Rul. 99-35(PDF, 16K) |
IRB #1999-34(HTML) |
Aug. 23, 1999 |
| Mutual life insurance companies; differential earnings rate. The differential earnings rate for 1998 and the recomputed differential earnings rate for 1997 are set forth for use by mutual life insurance companies to compute their in-come tax liabilities for 1998. |
| Rev. Rul. 99-34(PDF, 20K) |
IRB #1999-33(HTML) |
Aug. 16, 1999 |
| LIFO; price indexes; department stores. The June 1999 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 1999. |
| Rev. Rul. 99-33(PDF, 12K) |
IRB #1999-34(HTML) |
Aug. 23, 1999 |
| Fringe benefits aircraft valuation formula. For purposes of section 1.61-21(g) of the Income Tax Regulations, relating to the rule for valuing noncommercial flights on employer-provided aircraft, the Standard Industry Fare Level (SIFL), cents-per-mile rates, and terminal charges in effect for the second half of 1999 are set forth. |
| Rev. Rul. 99-32(PDF, 12K) |
IRB #1999-31(HTML) |
Aug. 2, 1999 |
| 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 August 1999. |
| Rev. Rul. 99-31(PDF, 16K) |
IRB #1999-37(HTML) |
Sept. 13, 1999 |
| LIFO; price indexes; department stores. The July 1999 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, 1999. |
| Rev. Rul. 99-30(PDF, 22K) |
IRB #1999-28(HTML) |
July 12, 1999 |
| LIFO; price indexes; department stores. The May 1999 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, May 31, 1999. |
| Rev. Rul. 99-29(PDF, 15K) |
IRB #1999-27(HTML) |
July 6, 1999 |
| 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 July 1999. |
| Rev. Rul. 99-28(PDF, 26K) |
IRB #1999-25(HTML) |
June 21, 1999 |
| Medical expenses; smoking-cessation programs. Uncompensated amounts paid by taxpayers for participation in a smoking-cessation program and for prescribed drugs designed to alleviate nicotine withdrawal are expenses for medical care that are deductible under section 213 of the Code. The cost of nicotine gum and patches available without a prescription is not deductible as a medical expense. Rev. Rul. 79-162 revoked. |
| Rev. Rul. 99-27(PDF, 26K) |
IRB #1999-25(HTML) |
June 21, 1999 |
| Interest rates; underpayments and overpayments. The rate of interest determined under section 6621 of the Code for the calendar quarter beginning July 1, 1999, will be 8 percent for overpayments (7 percent in the case of a corporation), 8 percent for underpayments, and 10 percent for large corporate underpayments. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 is 5.5 percent. |
| Rev. Rul. 99-26(PDF, 11K) |
IRB #1999-24(HTML) |
June 14, 1999 |
| LIFO; price indexes; department stores. The April 1999 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, April 30, 1999. |
| Rev. Rul. 99-25(PDF, 12K) |
IRB #1999-23(HTML) |
June 7, 1999 |
| 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 June 1999. |
| Rev. Rul. 99-24(PDF, 11K) |
IRB #1999-21(HTML) |
May 24, 1999 |
| Low-income housing credit; satisfactory bond; "bond factor" amounts for the period April through June 1999. 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 April through June 1999. |
| Rev. Rul. 99-23(PDF, 24K) |
IRB #1999-20(HTML) |
May 17, 1999 |
| Start-up expenditures, business expenses, capital expenditures. Guidance is provided on the types of expenditures that will qualify as investigatory costs that are eligible for amortization as start-up expenditures under section 195 of the Code when a taxpayer acquires the assets of an active trade or business. |
| Rev. Rul. 99-22(PDF, 10K) |
IRB #1999-19(HTML) |
May 10, 1999 |
| LIFO; price indexes; department stores. The March 1999 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, March 31, 1999. |
| Rev. Rul. 99-21(PDF, 15K) |
IRB #1999-18(HTML) |
May 3, 1999 |
| 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 May 1999. |
| Rev. Rul. 99-20(PDF, 14K) |
IRB #1999-18(HTML) |
May 3, 1999 |
| Special use value; farms; interest rates. The 1999 interest rates to be used in computing the special use value of farm real property for which an election is made under section 2032A of the Code are listed for estates of decedents. |
| Rev. Rul. 99-19(PDF, 23K) |
IRB #1999-15(HTML) |
April 12, 1999 |
| LIFO; price indexes; department stores. The February 1999 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, February 28, 1999. |
| Rev. Rul. 99-18(PDF, 13K) |
IRB #1999-14(HTML) |
April 5, 1999 |
| Low-income housing credits; satisfactory bond; "bond factor" amounts for the period January through March 1999. 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 January through March 1999. |
| Rev. Rul. 99-17(PDF, 14K) |
IRB #1999-14(HTML) |
April 5, 1999 |
| 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 April 1999. |
| Rev. Rul. 99-16(PDF, 26K) |
IRB #1999-13(HTML) |
March 29, 1999 |
| Interest rates; underpayments and overpayments. The rate of interest determined under section 6621 of the Code for the calendar quarter beginning April 1, 1999, will be 8 percent for overpayments (7 percent in the case of a corporation), 8 percent for underpayments, and 10 percent for large corporate underpayments. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 is 5.5 percent. |
| Rev. Rul. 99-15(PDF, 28K) |
IRB #1999-12(HTML) |
March 22, 1999 |
| LIFO; price indexes; department stores. The January 1999 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, January 31, 1999. |
| Rev. Rul. 99-14(PDF, 32K) |
IRB #1999-13(HTML) |
March 29, 1999 |
| Business expenses; interest; lease-in/lease-out transactions. A taxpayer may not deduct, under sections 162 and 163 of the Code, rent and interest paid or incurred in connection with a lease-in/lease-out (LILO) transaction that lacks economic substance. |
| Rev. Rul. 99-13(PDF, 38K) |
IRB #1999-10(HTML) |
March 8, 1999 |
| Election in respect of losses attributable to a disaster. This ruling lists the areas declared by the President to qualify as major disaster areas during 1998 under the Disaster Relief and Emergency Assistance Act. |
| Rev. Rul. 99-12(PDF, 12K) |
IRB #1999-11(HTML) |
March 15, 1999 |
| Fringe benefits aircraft valuation formula. For purposes of section 1.61-21(g) of the Income Tax Regulations, relating to the rule for valuing noncommercial flights on employer provided aircraft, the Standard Industry Fare Level (SIFL) cents-per-mile rates and terminal charges in effect for the first half of 1999 are set forth. |
| Rev. Rul. 99-11(PDF, 16K) |
IRB #1999-10(HTML) |
March 8, 1999 |
| Determination of issue price in the case of certain debt instruments issued for property. This ruling provides various prescribed rates for federal income tax purposes for March 1999. |
| Rev. Rul. 99-10(PDF, 20K) |
IRB #1999-10(HTML) |
March 8, 1999 |
| Insurance companies; interest rate tables. Prevailing state assumed interest rates are provided for the determination of reserves under section 807 of the Code for contracts issued in 1998 and 1999. Rev. Rul. 92-19 supplemented in part. |
| Rev. Rul. 99-9(PDF, 34K) |
IRB #1999-7(HTML) |
Feb. 16, 1999 |
| LIFO; price indexes; department stores. The December 1998 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, December 31, 1998. |
| Rev. Rul. 99-8(PDF, 22K) |
IRB #1999-6(HTML) |
Feb. 8, 1999 |
| 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 February 1999. |
| Rev. Rul. 99-7(PDF, 23K) |
IRB #1999-5(HTML) |
Feb. 1, 1999 |
| Deductibility of daily transportation expenses. This ruling provides the rules for determining whether daily transportation expenses incurred by a taxpayer in going between the taxpayer's residence and a work location are deductible business expenses under section 162(a) of the Code. |
| Rev. Rul. 99-6(PDF, 33K) |
IRB #1999-6(HTML) |
Feb. 8, 1999 |
| Partnership to disregarded entity. This ruling describes the federal income tax consequences if one person purchases all of the ownership interests in a domestic limited liability company (LLC) that is classified as a partnership under section 301.7701-3 of the Procedure and Administration Regulations, causing the LLC's status as a partnership to terminate under section 708(b)(1)(A) of the Code. |
| Rev. Rul. 99-5(PDF, 31K) |
IRB #1999-6(HTML) |
Feb. 8, 1999 |
| Disregarded entity to partnership. This ruling describes the federal income tax consequences when a single member limited liability company that is disregarded as an entity separate from its owner under section 301.7 701 -3 of the Procedure and Administration Regulations becomes an entity with more than one owner that is classified as a partnership for federal tax purposes. |
| Rev. Rul. 99-4(PDF, 27K) |
IRB #1999-4(HTML) |
Jan. 25, 1999 |
| LIFO; price indexes; department stores. The November 1998 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, November 30, 1998. |
| Rev. Rul. 99-3(PDF, 30K) |
IRB #1999-3(HTML) |
Jan. 19, 1999 |
| Section 809. This ruling provides that a life insurance subsidiary of a mutual holding company is not a mutual life insurance company for which the deduction for policyholder dividends is reduced pursuant to sections 808(c)(2) and 809 of the Code. |
| Rev. Rul. 99-2(PDF, 26K) |
IRB #1999-2(HTML) |
Jan. 11, 1999 |
| 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 January 1999. |
| Rev. Rul. 99-1(PDF, 27K) |
IRB #1999-2(HTML) |
Jan. 11, 1999 |
| Low-income housing credit; satisfactory bond; "bond factor" amounts for the period October through December 1998. 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 October through December 1998. |
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