Internal Revenue Bulletins  

December 20, 1999

Internal Revenue Bulletin No. 1999-51

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.


Notice 99-57(PDF, 18K)
Guidance is provided under section 705 of the Code relating to certain situations where gain or loss may be improperly created by adjusting the basis of a partnership interest for partnership income that is not subject to tax, or for partnership losses or deductions that are permanently denied, with respect to a partner.

Notice 99-58(PDF, 8K)
Authorized IRS e-file providers, Form 1040 online transmitters, and financial institutions may apply to obtain a Debt Indicator for their customer/client taxpayers in exchange for screening individual income tax returns for potential abuse and reporting the findings to the IRS.�

Rev. Rul. 99-54(PDF, 10K)
Low-income housing credit; satisfactory bond; "bond factor" amounts for the period October through December 1999. 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 1999.�

Rev. Rul. 99-55(PDF, 11K)
LIFO; price indexes; department stores. The October 1999 Bureau of Labor Statistics price indexes are accepted for use by department stores employing the retail inventory and last-in, first-out inventory methods for valuing inventories for tax years ended on, or with reference to, October 31, 1999.�

Rev. Rul. 99-56(PDF, 10K)
Timber casualty losses. The decisions in Westvaco Corp. v. United States and Weyerhaueser v. United States pertain to single, identifiable property (SIP) in relation to casualty losses. Rev. Ruls. 66-9 and 73-51 revoked.�

Rev. Rul. 99-57(PDF, 20K)
Applying section 1032 to partnership transaction. This ruling explains the tax consequences to a partnership and a corporate partner where the corporate partner contributes its own stock to the partnership, and the partnership later exchanges the stock with a third party in a taxable transaction.�


T.D. 8845(PDF, 50K)
Final regulations under sections 2001, 2504, and 6501(c) of the Code relate to the valuation of prior gifts in determining estate and gift tax liability, and to the commencement of the period of limitations for assessing and collecting gift tax.


T.D. 8846(PDF, 30K)
Final regulations under sections 2055 and 2056 of the Code relate to the effect of certain Administration expenses on the valuation of property that qualifies for the estate tax charitable or marital deduction. Rev. Ruls. 66-233, 73-98, 80-159, 93-48 obsoleted.

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