Internal Revenue Bulletins  

June 22, 1998

Internal Revenue Bulletin No. 1998-25

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.


Rev. Rul. 98-31(PDF, 13K)
Low-income housing credit; satisfactory bond; "bond factor" amounts for the period April through June 1998. 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 April through June 1998.

Rev. Rul. 98-32(PDF, 20K)
Interest rates; underpayments and overpayments. The rate of interest determined under section 6621 of the Code for the calendar quarter beginning July 1, 1998, will be 7 percent for overpayments, 8 percent for underpayments, and 10 percent for large corporate underpayments. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 is 5.5 percent.


Notice 98-33(PDF, 8K)
Weighted average interest rate update. Guidelines are set forth for determining for June 1998, the weighted average interest rate and the resulting permissible range of interest rates used to calculate current liability for purposes of the full funding limitation of section 41 2(c)(7) of the Code as amended by the Omnibus Budget Reconciliation Act of 1987 and by the Uruguay Round Agreements Act (GAT1).

Rev. Rul. 98-30(PDF, 18K)
Qualified cash or deferred arrangement; participation. This ruling describes certain criteria that must be met before an employee's compensation can be contributed to an employer's section 401 (k) plan in the absence of an affirmative election by the employee.


Announcement 98-54(PDF, 21K)
A list is given of organizations now classified as private foundations.

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