Internal Revenue Bulletins  

September 08, 1998

Internal Revenue Bulletin No. 1998-36

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.


Ct. D. 2063(PDF, 54K)
Lien for taxes; validity and priority against third parties; judgment creditor. The Supreme Court has affirmed that under section 6323 of the Code a federal tax lien need not be given preference over a judgment creditor's perfected lien on real property in a decedent's insolvent estate. United States v, Estate of Francis J. Romani, et al.

T.D. 8778(PDF, 44K)
REG-115446-97(PDF, 24K)
Temporary and proposed regulations under section 936 of the Code provide guidance regarding the addition of a substantial new line of business by a possessions corporation that is an existing credit claimant. A public hearing on the proposed regulations will be held on December 1, 1998.

Rev. Rul. 98-43(PDF, 18K)
Federal rates; adjusted federal rates; adjusted federal long-term rate, and the long-term exempt rate. For purposes of sections 1274, 1288, 382, and other sections of the Code, tables set forth the rates for September 1998.


T.D. 8779(PDF, 27K)
Final regulations under section 2044 of the Code amend the estate tax marital deduction regulations.


Announcement 98-83(PDF, 10K)
This announcement provides excise tax changes for the fourth quarter of 1998 based on recent legislation.


Announcement 98-81(PDF, 19K)
The disaster relief provided in section 5.02 of Rev. Proc. 95-28, 1995-1 C.B. 704 and 705, is extended to include an area in Nevada County, California, bordering a declared major disaster area.

Notice 98-46(PDF, 16K)
Information reporting; Hope Scholarship Credit; Lifetime Learning Credit. Taxpayers are informed that the Service and Treasury are extending the application of Notice 97-73, 1997-51 I.R.B. 16, to information reporting required under section 6050S of the Code for 1999.

REG-209446-82(PDF, 74K)
Proposed regulations under section 1366 of the Code relate to the pass through of items of an S corporation to its shareholders, the adjustments to the basis of stock of the shareholders, and the treatment of distributions by an S corporation. A public hearing will be held on December 15, 1998.

Rev. Proc. 98-46(PDF, 19K)
Last-in, first-out inventories; truck dealers. Rev. Proc. 97-44, 1997-41 I.R.B. 8, is modified to extend the relief provided by that revenue procedure for certain LIFO conformity violations of section 472(c) or (e)(2) of the Code to medium-and heavy-duty truck dealers.

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