Internal Revenue Bulletins  

November 13, 1989

Internal Revenue Bulletin No. 1989-46

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.


Announcement 89-140
The Service will again conduct a program during the 1990 filing period for 1040NR Returns (U.S. Nonresident Alien Income Tax Returns) with Schedule D, Schedule E and Form 4797 due June 15, 1990, to be filed via magnetic tape media.


Rev. Rul. 89-114
LIFO; price indexes; department stores. The August 1989 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, August 31, 1989.

Rev. Rul. 89-118
Obsolete revenue rulings; credibility of foreign taxes. Listed post-1952 revenue rulings dealing with the credibility of foreign taxes are declared obsolete for taxable years ending after June 15, 1979.

Rev. Rul. 89-119
Foreign tax credit; Brazil; interest withholding tax. Brazilian withholding tax on interest is otherwise creditable and a credit can be claimed under section 901 of the Code for the portion of the amount withheld that exceeds the subsidy received by the borrowers. Rev. Rul. 78-258 modified.

T.D. 8268

Temporary and proposed regulations relate to requirements that must be met to qualify under section 936(d)(4) of the Code as investments in qualified Caribbean Basin Countries.


Announcement 89-139
The last date for adopting section 401(k) model amendments to the M&P plans is extended until March 31, 1990.


The bilateral agreements between the U.S. and Cyprus, Finland, Peru, St. Vincent and the Grenadines, and Taiwan providing for the reciprocal tax exemption of income from international operation of ships and/or aircraft are set forth.


Rev. Proc. 89-61
Change of election; cost sharing. Permission is granted for taxpayers who have made a cost sharing election for taxable years beginning prior to January 1, 1987, and taxpayers who have made a cost sharing election for a taxable year beginning after December 31, 1986, to change their election.

Notice 89-108
Information is provided concerning relief for victims of the 1989 October earthquake that struck northern California who may be unable to meet deadlines for filing returns and paying taxes.

Announcement 89-141
Errors in T.D. 8258, Allocation of Income Attributable to Certain Notional Principal Contracts Under Section 8963(a), are corrected.

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