Internal Revenue Bulletins  

January 11, 1999

Internal Revenue Bulletin No. 1999-02

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. 99-1(PDF, 27K)
Low-income housing credit; satisfactory bond; "bond factor" amounts for the period October through December 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 October through December 1998.

Rev. Rul. 99-2(PDF, 26K)
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 January 1999.


Announcement 99-2(PDF, 26K)
This announcement describes a method whereby employees who are employed by an employer who does not maintain any form of retirement program may establish IRAs.

Notice 99-1(PDF, 21K)
Qualified pension and profit-sharing plans; use of new technologies in plan administration. This notice provides guidance to sponsors and administrators of retirement plans that are intended to be qualified under section 401 (a) of the Code regarding the use of electronic media for conducting certain transactions involving plan participants and beneficiaries.

Notice 99-3(PDF, 32K)
Temporary Assistance for Needy Families; gross income; earned income credit; wages. This notice addresses the federal income and employment tax consequences of payments received by individuals with respect to certain work activities performed in state programs under part A of title IV of the Social Security Act, as amended by the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 (Temporary Assistance for Needy Families).

Rev. Proc. 99-10(PDF, 36K)
Failure to deposit federal tax; penalties. This procedure describes how a taxpayer may designate the application of its federal tax deposits for a particular return period in order to minimize the failure-to-deposit penalty under section 6656 of the Code with respect to deposits required to be made after January 18, 1999.


Announcement 99-1(PDF, 46K)
The Service requests comments on a proposed update of Rev. Proc. 65-17, 1965-1 C.B. 833, regarding the extent to which taxpayers whose income has been adjusted under section 482 of the Code may make certain adjustments to conform their accounts to reflect the section 482 allocation.

Announcement 99-7(PDF, 22K)
Optional standard mileage rates; effective date. Taxpayers are informed that the Service is postponing until April 1, 1999, the effective date of the 31 cents-per-mile business standard mileage rate established in Rev. Proc. 98-63, 1998-52 IRB 25. Rev. Proc. 98-63 modified.

Notice 99-2(PDF, 29K)
Abatement of interest; Presidentially declared disasters. Taxpayers are informed of the Service's application of interest abatement relief under section 915 of the Taxpayer Relief Act of 1997, as amended, and under section 6404(h) of the Code, for certain eligible taxpayers located in areas declared by the President to be disasters.

Rev. Proc. 99-9(PDF, 121K)
Electronic filing; magnetic media. Specifications are set forth for the magnetic or electronic filing of 1998 Forms 8596. The forms may be filed with the Service using magnetic tape; tape cartridges; 8 mm, 4 mm, and quarter-inch cartridges; 3 1/2-inch diskettes; or electronic filing through the Information Reporting Program Bulletin Board System (IRB-BBS). Rev. Proc. 94-56 superseded.

Rev. Proc. 99-11(PDF, 34K)
Low-income housing credit; alternative collateral program. This procedure announces the establishment of a collateral program allowing taxpayers to pledge certain United States Treasury securities in lieu of providing a surety bond to avoid or defer recapture of low-income housing tax credits.

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