Internal Revenue Bulletins  

December 26, 1995

Internal Revenue Bulletin No. 1995-52

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. 95-81
Inventories; REMIC residual interests. A taxpayer may not use an inventory method under section 471 of the Code to account for REMIC residual interests.

Rev. Rul. 95-82
LIFO; price indexes; department stores. The October 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, October 31, 1995.

Rev. Rul. 95-83
Low-income housing credit; satisfactory bond; "bond factor" amounts for the period January through December 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 period January through December 1995.

T.D. 8629
Final regulations under section 7704 of the Code relating to the classification of certain publicly traded partnerships as corporations.


Rev. Proc. 95-53
Income tax cost-of-living adjustments for tax years beginning in 1996. The Service provides cost-of-living adjustment factors and their application to the tax rate tables for individuals and for estates and trusts, the standard deduction amounts, the personal exemption, and several other items.

Rev. Proc. 95-54
Optional standard mileage rates. This procedure announces 31 cents as the optional rate for deducting or accounting for expenses for business use of an automobile, and 10 cents as the optional rate for deducting or accounting for use of an automobile as a medical or moving expense, for 1996. It provides rules for substantiating the deductible expenses of using an automobile for business, moving, medical, or charitable purposes. Rev. Proc. 94-73 superseded.

Rev. Proc. 95-55
Penalties; substantial understatement. Guidance is provided concerning when information shown on a return in accordance with the applicable forms and instructions will be adequate disclosure for purposes of reducing an understatement of income tax under section 6662(d) of the Code.

T.D. 8628
Final regulations regarding excise taxes, accelerated tax assessments, and injunctions imposed for certain political expenditures made by organizations that (without regard to any political expenditure) would be described in section 501(c)(3) and exempt from taxation under section 501(a).

Notice 95-67
This notice informs taxpayers that the annual revenue procedure regarding business travel expenses and per diem reimbursements will be published as soon as possible in 1996.

Announcement 95-107
T.D. 8618, 1995-40 I.R.B. 4, relating to the definition of a controlled foreign corporation and the definitions of foreign base company income and foreign personal holding company income of a controlled foreign corporation, is corrected.



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