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. Rul. 99-14(PDF, 32K)
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. 99-16(PDF, 26K)
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.
EMPLOYEE PLANS
Announcement 99-18(PDF, 21K)
This announcement clarifies the reporting of conversions to Roth IRAs on Form 8606, Nondeductible IRAs. It clarifies the note in Part III of the form relating to the 10% additional tax. In addition, it corrects the computation of modified AGI for Roth IRAs and the Ed IRA contribution worksheet in the instructions to the form.
Notice 99-16(PDF, 15K)
Deferred compensation; methods of accounting. This notice provides procedures for implementing a change in method of accounting to comply with section 404(a)(11) of the Code, regarding the payment of deferred compensation.
REG-118662-98(PDF, 85K)
Proposed regulations under section 411 of the Code provide applicable standards for transmitting certain notices and consent through electronic media, and modify the timing requirements for providing certain distribution-related notices. A public hearing is scheduled for April 15, 1999.
EXEMPT ORGANIZATIONS
Announcement 99-27(PDF, 30K)
A list is given of organizations now classified as private foundations.
ADMINISTRATIVE
Announcement 99-28(PDF, 15K)
This document contains a correction to the notice of proposed rulemaking, REG-106177-98 (1999-12 I.R.B. 25), published in the Federal Register on December 22, 1998 (63 F.R. 70701).
Announcement 99-29(PDF, 21K)
This document contains a correction to final regulations, T.D. 8804 (1999-12 I.R.B. 5), under section 1441 of the Code, relating to the withholding of income tax on certain U.S. source income payments to foreign persons.
Announcement 99-30(PDF, 15K)
This document contains a correction to REG-104072-97 (1999-11 I.R.B. 12) relating to financing arrangements involving fast-pay stock.
Announcement 99-31(PDF, 16K)
This document contains corrections to T.D. 8795 (1999-7 I.R.B. 8), under section 411 of the Code, relating to defined benefit plans and to individual account plans that are subject to the funding standards of section 302 of the Employment Retirement Income Security Act of 1974.
Rev. Proc. 99-19(PDF, 31K)
Interest netting for interest accruing before October 1, 1998. This procedure provides guidance on how to apply the net interest rate of zero in section 6621(d) of the Code to interest accruing before October 1, 1998, with respect to overlapping tax underpayments and tax overpayments. Public comments are requested regarding the application of section 6621 to these payments.
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