Internal Revenue Bulletins  

March 20, 1995

Internal Revenue Bulletin No. 1995-12

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. 95-22
Involuntary conversion of principal residence in a Presidentially declared disaster. To defer recognition of gain under section 1033 of the Code, a taxpayer must reinvest insurance proceeds received upon the destruction of the taxpayer's principal residence and its separately scheduled contents as the result of a Presidentially declared disaster. The proceeds must be reinvested in a replacement residence or in replacement contents (or both). However, a taxpayer recognizes no gain upon the receipt of insurance proceeds for unscheduled contents destroyed in such a disaster, regardless of the use to which the taxpayer puts those proceeds.

Rev. Rul. 95-23
Low-income housing credit; satisfactory bond; "bond factor" amounts for January, February, and March 1995. This ruling announces the monthly bond factor amounts to be used by taxpayers who dispose of qualified low-income buildings or interests therein during the months of January, February, or March 1995.


Announcement 95-22
A list is given of organizations now classified as private foundations.


Rev. Proc. 95-19
Change in method of accounting. New procedures are provided for taxpayers to obtain consent to change their methods of accounting for interest costs subject to section 263A(fl of the Code to methods required or permitted by sections 1.263A-8 through 1.263A-15 of the regulations. Rev. Proc. 92-20 modified.

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