Internal Revenue Bulletins  

June 21, 1999

Internal Revenue Bulletin No. 1999-25

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. 99-27(PDF, 26K)
Interest rates; underpayments and overpayments. The rate of interest determined under section 6621 of the Code for the calendar quarter beginning July 1, 1999, will be 8 percent for overpayments (7 percent in the case of a corporation), 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.

Rev. Rul. 99-28(PDF, 26K)
Medical expenses; smoking-cessation programs. Uncompensated amounts paid by taxpayers for participation in a smoking-cessation program and for prescribed drugs designed to alleviate nicotine withdrawal are expenses for medical care that are deductible under section 213 of the Code. The cost of nicotine gum and patches available without a prescription is not deductible as a medical expense. Rev. Rul. 79-162 revoked.

T.D. 8821(PDF, 35K)
Final regulations under section 79 of the Code revise the uniform premium table used to calculate the cost of group-term life insurance coverage provided to an employee by an employer.


Announcement 99-61(PDF, 29K)
A list is given of organizations now classified as private foundations.

Announcement 99-62(PDF, 23K)
The Service advises affected tax-exempt organizations of the effective date of T.D. 8818, 1999-17 I.R.B. 3, and provides a summary description of such organizations' responsibilities to provide copies of their exemption applications and information returns to individuals upon request. Additionally, if an affected organization makes its applicable documents widely available, the organization need not provide the requested copy.

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