Internal Revenue Bulletins  

November 20, 1995

Internal Revenue Bulletin No. 1995-47

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. 95-76
LIFO; price indexes; department stores. The September 1995 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, 1995.

Rev. Rul. 95-77
1995 base period T-bill rate. The "base period T-bill rate" for the period ending September 30, 1995, is published, as required by section 995(f)(4) of the Code.


Rev. Proc. 95-48
Exercise of Commissioner's discretionary authority under section 6033. This procedure exercises the Commissioner's discretionary authority under section 6033(a)(2)(B) of the Code, by specifying that two additional classes of organizations, governmental units and affiliates of governmental units, which are exempt from federal income tax under section 501(a), are not required to file annual information returns on Form 990, Return of Organization Exempt From Income Tax. Rev. Proc. 83-23 supplemented.

Announcement 95-95
A list is provided of organizations that no longer qualify as organizations to which contributions are deductible under section 170 of the Code.


Rev. Proc. 95-47
Tax-exempt bonds; arbitrage. Under certain conditions, an issuer of State or local bonds may make payments to the U.S. to reduce the yield on investments purchased with the proceeds of advance refunding bonds on a date when the issuer is unable to purchase U.S. Treasury securities-State and Local Government Series ("SLGS") because the Department of Treasury has suspended sales of SLGS.

Notice 95-60
This notice temporarily suspends certain regulations governing foreign sales corporations ("FSC") due to major disruptions in the U.S. Virgin Islands caused by Hurricane Marilyn.

Notice 95-61
This notice shows the amount that is exempt from levy on an individual's wages, salary, and other income under section 6334(d) of the Code.

Notice 95-62
Proposed regulations, IA-4-92, 1992-2 C.B. 735, relating to the authority of the Federal Crop Insurance Corporation to require policyholders and reinsured companies to furnish employer identification numbers for purposes of administering the Federal Crop Insurance Act, are withdrawn.

Proposed regulations under section 6231 of the Code relating to the designation or selection of a tax matters partner for limited liability companies classified as partnerships.

Announcement 95-96
T.D. 8611, 1995-37 I.R.B. 20, relating to conduit financing arrangements, is corrected.

Announcement 95-97
Form 1042-S, Foreign Person's U.S. Source Income

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