Internal Revenue Bulletins  

August 26, 1996

Internal Revenue Bulletin No. 1996-35

Links to Official IRS Bulletin Documents listed below are in the Adobe Acrobat PDF Format, and require the appropriate Acrobat Reader to view and/or print.

INCOME TAX

Notice 96-41(PDF, 16K)
1996 section 43 inflation adjustment factor. This notice announces the inflation adjustment factor to be used in determining the enhanced oil recovery credit for tax years beginning in the 1996 calendar year.

Notice 96-42(PDF, 14K)
1996 marginal production rates. This notice announces the applicable percentage to be used in determining percentage depletion for marginal properties for the 1996 calendar year.

Rev. Rul. 96-42(PDF, 12K)
Mutual life insurance companies; differential earnings rate. The differential earnings rate for 1995 and the recomputed differential earnings rate for 1994 are set forth for use by mutual life insurance companies to compute their income tax liabilities for 1995.

EXEMPT ORGANIZATIONS

Announcement 96-80(PDF, 16K)
A list is given of organizations now classified as private foundations.

ADMINISTRATIVE

Announcement 96-77(PDF, 11K)
Backup withholding; substitute Form W-9. The effective date of Rev. Proc. 96-26, 1996-8 I.R.B. 22, is extended for certain payors who must secure regulatory approval of chances to their substitute Forms W-9.

Announcement 96-78(PDF, 15K)
T.D. 8670, 1996-24 I.R.B. 6, relating to qualified cost sharing arrangements, is corrected.

Announcement 96-79(PDF, 20K)
T.D. 8671, 1996-26 I.R.B. 8, relating to requirements for furnishing a taxpayer identifying number on returns, statements, and other documents, is corrected.

Rev. Proc. 96-43(PDF, 15K)
Section 355 "No Rule." This procedure amplifies the "No Rule"�� Rev. Proc.�� 96-3,�� 1996-1� I.R.B.� 82, to include certain transactions under section 355 of the Code.

Rev. Proc. 96-44(PDF, 25K)
Insurance companies; loss reserves; discounting unpaid losses. The loss payment patterns and discount factors are set forth for the 1996 accident year. These factors will be used for computing discounted unpaid losses under section 846 of the Code.

Rev. Proc. 96-45(PDF, 17K)
Insurance companies; discounting estimated salvage recoverable. The salvage discount factors are set forth for the 1996 accident year. These factors will be used for computing estimated salvage recoverable under section 832 of the Code.

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