Internal Revenue Bulletins  

August 24, 1995

Internal Revenue Bulletin No. 1995-34

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 95-69
The public hearing scheduled to be held on August 31, 1995, on proposed regulations concerning the application of exceptions to passive income characterization for certain foreign banks, securities dealers, and brokers, has been changed to September 11, 1995.


Rev. Rul. 95-52
Depreciation; leased consumer durable property. Depreciation is determined under section 168 of the Code, and not under the income forecast method, for consumer durable property subject to rent-to-own contracts as described in Rev. Proc. 95-33 in this Bulletin.

Rev. Rul. 95-53
Annuity; mortgage; interest deduction. If a taxpayer uses a single premium annuity contract as collateral to obtain or continue a mortgage loan, section 264(a) of the Code disallows the allocable amount of interest on the loan to the extent the loan is collateralized by the annuity contract. Rev. Rul. 79-41 clarified and superseded.

Notice 95-46
The applicable interest rate on the amount of additional tax attributable to any nonqualified withdrawals from a capital construction fund established under section 607 of the Merchant Marine Act is 7.18 percent with respect to nonqualified withdrawals made in the taxable year beginning in 1995.

T.D. 8602
Final regulations under section 162 of the Code relating to lobbying expense deductions-dues, allocation of costs to lobbying activities, and influencing legislation.


Announcement 95-67
Irish-American Charitable & Educational Fund, Rocky River, OH, no longer qualifies as an organization to which contributions are deductible under section 170 of the Code.

Announcement 95-68
A list is given of organizations now classified as private foundations.


Rev. Proc. 95-37
Post-1993 section 936 elections. This procedure provides rules for electing the section 936(a)(4)(B) percentage limitation in post-1993 tax years and describes how certain affiliated possessions corporations may elect to compute the section 936(a)(4)(A) economic activity limitation on a consolidated basis pursuant to section 936(i)(5). This procedure also provides rules for revoking a possessions corporation's section 936(a) election and changing a section 936(h) intangible property income allocation method in post-1993 tax years.

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