Internal Revenue Bulletins  

August 17, 1998

Internal Revenue Bulletin No. 1998-33

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.


T.D. 8776(PDF, 38K)
REG-110332-98(PDF, 20K)
Final, proposed, and temporary regulations under section 985 of the Code provide guidance regarding certain federal tax consequences arising from the introduction of the euro. A public hearing on the proposed regulations will be held on October 20, 1998.

Rev. Rul. 98-39(PDF, 30K)
All events test; cooperative advertising. Under the all events test of section 461 of the Code, an accrual method manufacturer's liability for cooperative advertising services of a retailer is incurred in Year 1, the year the services are performed, provided the manufacturer is able to reasonably estimate the liability, even though the retailer does not submit the required claim form until Year 2. Rev. Proc. 97-37 modified and amplified.

Rev. Rul. 98-40(PDF, 17K)
Fringe benefits aircraft valuation formula. For purposes of section 1. 61 -21 (g) of the Income Tax Regulations, relating to the rule for valuing noncommercial flights on employer-provided aircraft, the Standard Industry Fare Level (SIFL) cents-per-mile rates and terminal charges in effect for the second half of 1998 are set forth.


Notice 98-43(PDF, 26K)
Tax Court review of worker classification and section 530 determinations. This notice describes new procedures that the Service has implemented to comply with new section 7436 of the Code.


Notice 98-39(PDF, 23K)
Church plans; nondiscrimination; safe harbors. This notice extends the effective date of the applicable nondiscrimination regulations for certain church plans.

Notice 98-41(PDF, 14K)
1998 enhanced oil recovery credit. The enhanced oil recovery credit for taxable years beginning in the 1998 calendar year is determined without regard to the phase-out for crude oil price increases provided in section 43(b) of the Code.

Notice 98-42(PDF, 23K)
1998 marginal production rates. This notice announces the applicable percentage to be used in determining percentage depletion for marginal properties for the 1998 calendar year.

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