Internal Revenue Bulletins  

January 23, 1989

Internal Revenue Bulletin No. 1989-4

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. 89-9
Interest; temporary global security. A temporary security that remains outstanding beyond a reasonable time after the completion of the initial offering must meet the foreign targeting requirements.

Rev. Rul. 89-10
LIFO; price indexes; department stores. The September 1988 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, 1988.

Rev. Rul. 89-11
Partnerships; partnership syndication expenses. Section 709 of the Code precludes a deduction under section 165 for an abandonment loss despite the fact that expenses were incurred in a syndication effort that failed and was abandoned. Rev. Rul. 79-2 distinguished.

Rev. Rul. 89-12
Shareholder's pro rate share of a controlled foreign corporation's increase in earnings invested in U. S. property. Rev. Rul. 71-373 that provides that a debt incurred by a wholly owned foreign corporation to a foreign bank reduces the amount of investment in U. S. property where the domestic parent issues a promissory note to guarantee the debt, is obsolete for investments in U. S. property made on or after June 14, 1988.

Rev. Proc. 89-8
Inconsistent tax treatment by the U. S. and a possession tax. A taxpayer, or a related person in a possession, that is potentially subject to double taxation may request assistance from the Service. Rev. Procs. 80-57 and 85-23 superseded.

Notice 89-7
Guidance is provided to parents and guardians of children liable for income tax.

Notice 89-10
Where an independent factor or production price exists, it must be used to determine the division between domestic and foreign sources of income from sales outside the U. S. of inventory produced in the U.S.

Notice 89-11
Guidance is provided concerning the source of income in the case of sales to a foreign sales corporation (FSC).

Notice 89-14
The date for identification of liabilities that give rise to interest paid by a U. S. trade or business under section 884 of the Code has been extended.

Announcement 89-11
Deux Chance, San Francisco, CA no longer qualifies as an organization contribution to which are deductible under section 170(c)(2) of the Code.


Amendment of proposed regulations and a notice of public hearing under sections 4911 and 4945 of the Code relating to lobbying by public charities electing under section 501(h) and also lobbying by private foundations described in section 509(a).


T. D. 8234
Final regulations under section 6323 of the Code relate to a notice of Federal tax lien filed by the use of an electronic or magnetic medium.

Notice 89-13
Guidance is provided on employer reporting with respect to 1988 of amounts incurred for dependent care assistance under dependent care assistance programs.

Proposed amendments to the regulations under section 6103 of the Code relating to disclosure of return information to the Bureau of the Census.

Announcement 89-10
Errors in Publications 225, Farmers Tax Guide, and 595, Tax Guide for Commercial Fishermen, are corrected.

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