The Bulletin Index-Digest System & Highlights Summaries

Leases

The following items are Summaries from the "Highlights" page of each Internal Revenue Bulletin, the official weekly publication of the IRS. The Summaries begin in January 1994 and have been compiled through the date shown above. There are no links for the documents issued in 1994 and 1995, but beginning in January 1996 there are links to the full text of all the actual documents. These documents have been extracted from IRS's Internal Revenue Bulletins and are in the Adobe Acrobat PDF format. You will need the appropriate Acrobat Reader installed on your computer to view or print the PDF files.

REG–103694–99 from IR Bulletin No. 1999-24
Proposed regulations under section 467 of the Code remove the constant rental accrual exception for rental agree-ments involving payments of $2,000,000 or less.

T.D. 8820 from IR Bulletin No. 1999-24
Final regulations under section 467 of the Code relate to the treatment of rent and interest under certain agreements for the lease of tangible property.

Rev. Rul. 99–14 from IR Bulletin No. 1999-13
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.

Notice 97-72 from IR Bulletin No. 1997-50
Leased property; substantial modification. Taxpayers are informed of certain conditions under which changes in rental payment terms resulting from a lessor's refinancing of its indebtedness will not be a substantial modification of the rental agreement for purposes of section 467 of the Code.

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