Internal Revenue Bulletins  

November 6, 1989

Internal Revenue Bulletin No. 1989-45

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.


INCOME TAX

Rev. Rul. 89-111A
Rev. Rul. 89-111 modified

Federal rates for October 1989. The appropriate percentage for the 70 percent present value low income housing credit was incorrectly provided in Table 4. The correct percentage is 8.98 percent. Rev. Rul. 89-111 modified.

Rev. Rul. 89-117
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 November 1989.

Notice 89-106
Countries that require participation in, or cooperation with, an international boycott are listed.

T.D. 82654
CO-69-87

Temporary and proposed regulations under section 383 of the Code relate to the limitation on corporate net operating loss carryforwards, capital losses and excess credits.

T.D. 8266
FI-42-89

Temporary and proposed regulations under section 832 of the Code relate to the treatment of salvage and reinsurance in determining the paid and unpaid losses of property and casualty insurance companies.


EXEMPT ORGANIZATIONS

Announcement 89-138
Income from the public conduct of bingo and other gambling activities may be subject to the unrelated business income tax imposed by section 511(a) of the Code.


ADMINISTRATIVE

Rev. Proc. 89-59
Mortgage revenue bonds; mortgage credit certificates; national average purchase prices; average area purchase price safe harbor limitations. The national average purchase prices and the average area purchase price safe harbor limitations for new and existing single-family residences are set forth for designated areas for use by issuers of mortgage revenue bonds and mortgage credit certificates in determining whether the income requirement under section 143(f) of the Code and the purchase price requirement under section 143(e) are satisfied. Rev. Procs. 88-48 and 89-32 obsoleted in part.

Rev. Proc. 89-60
Mortgage revenue bonds; mortgage credit certificates; average annual mortgage originations. A list is set forth of the average annual aggregate principal amount of mortgages executed during the calendar years 1986, 1987, and 1988 for each state, the District of Columbia, Guam, Puerto Rico, and the Virgin Islands to assist issuers of mortgage revenue bonds and mortgage credit certificates in determining whether the required portion of loans are made available in targeted areas as described in section 143(h) of the Code. Rev. Proc. 87-31 obsoleted.

Notice 89-107
Additional relief and guidance is provided to taxpayers affected by Hurricane Hugo.

T.D. 8267
IA-9-89

Temporary and proposed regulations relate to the time and manner of making certain elections under the Technical and Miscellaneous Revenue Act of 1988.


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