Internal Revenue Bulletins  

January 17, 1989

Internal Revenue Bulletin No. 1989-3

There are no links to the official documents for the years 1989 through 1995. The information below can only be used as help for further research, as there is not enough information here to rely on for official guidance. For that you need to obtain a copy of the complete document.


Rev. Rul. 89-6
Interest; timing of deduction; contested tax liability; asserted liability. Interest paid by accrual basis corporation in connection with a contested tax liability is deductible under sections 163(a) and 461(f) of the Code in the tax year of payment when the taxpayer remits the total amount of the proposed tax liability and does not designate the amount remitted as a deposit in the nature of a cash bond.

Rev. Rul. 89-7
Partnerships; basis of partner's interest in a partnership. A partner's distributive share of section 179 expenses will be reflected in the adjusted basis of the partner's interest through the basis adjustments required by section 705(a) whether or not the partner is allowed a deduction for such expense.

T. D. 8236

Temporary and proposed regulations under section 861 of the Code relate to the allocation and apportionment of deductions for state income taxes in computing taxable income from sources inside and outside the U.S.

Notice 89-9
Forthcoming regulations will concern the application of the private security or payment test of section 141(b)(2) of the Code and the private loan financing test of section 141(c) to state and local bonds issued to finance the costs of certain hazardous waste clean-up activities conducted by state or local governments.

Announcement 89-3
Allocation of 1988 low-income housing credits may be made on any Form 8609, Low-Income Housing Credit Allocation Certification, but taxpayers must receive revised Form 8609 from the state housing credit agencies. State housing credit agencies will have until January 31, 1989, to transfer information from old Forms 8609 to revised Forms 8609.


Notice 89-8
Circumstances are set forth under which the Service will presume any applicable extension of time to file an employer's tax return for purposes of determining the end of the remedial amendment period under section 401(b) of the Code for plan amendments resulting from certain changes in the law affecting qualified plan requirements; sets forth guidance for determining the end of the remedial amendment period in the case of organizations not required to file an employer's tax return; and clarifies certain other rules.


Announcement 89-9
A list is given of organizations now classified as private foundations and an organization that is not a private operating foundation.


Rev. Rul. 89-8
Diplomatic and consular personnel; exemption for fuels taxes. Effective August 1, 1986, where the Department of State has certified to an oil company that a certain individual is eligible for tax exemption such individual may make tax-exempt purchases of gasoline or diesel fuel throughout the U. S. by purchasing the fuel with a credit card issued by such company.


Rev. Proc. 89-4
User fees. Effective February 1, 1989, new user fees are provided for requests for rulings, opinion letters, determination letters and similar requests as required by the Revenue Act of 1987. Rev. Procs. 88-8, 88-13 and 88-27 are superseded effective February 1, 1989.

Rev. Proc. 89-5
State and local bonds; areas in which rulings will not ordinarily be issued. The Service will not ordinarily rule whether state or local obligations are "arbitrage bonds" under former section 103(c)(2) of the Code if bond proceeds are invested at a materially higher yield after the temporary period. The Service will consider ruling requests concerning the extension of the temporary period for bonds issued to finance construction projects if certain requirements are met. Rev. Proc. 89-3 modified.

Rev. Proc. 89-7
Areas in which advance rulings will not be issued; former employees; wages for FICA and FUTA. The Service will not issue advance rulings on whether payments to former employees in the event of a plant closing, layoff, or reduction in force are wages for purposes of the Federal Insurance Contributions Act (FICA) and the Federal Unemployment Tax Act (FUTA). The Service is placing this area under extensive study. Rev. Proc. 89-3 amplified.

Announcement 89-8
New Form 8809, Request for Extension of Time to File Information Returns, has been developed to request an extension of time to file Forms 1099, 1098, 5498, and W-2G with the Service or Forms W-2 and W-2P with the Social Security Administration.

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