Internal Revenue Bulletins  

November 12, 2002

Internal Revenue Bulletin No. 2002-45

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. 9017(PDF, 65K)
REG-103735-00(PDF, 29K)
Temporary and proposed regulations under section 6011 of the Code modify the disclosure requirements relating to reportable transactions. Six new provisions are added pursuant to section 6011 requiring the disclosure of listed transactions that are related to estate, gift, employment, and pension and exempt organizations excise tax. A public hearing on the proposed regulations is scheduled for December 11, 2002.

T.D. 9018(PDF, 56K)
REG-103736-00(PDF, 29K)
Temporary and proposed regulations under section 6112 of the Code modify the requirement for sellers and organizers to maintain lists or persons in potentially abusive tax shelters. A public hearing on the proposed regulations is scheduled for December 11, 2002.

Rev. Rul. 2002-66(PDF, 30K)
Effect of collars on qualified covered calls. Guidance is provided under section 1092 of the Code regarding the effect of collars upon qualified covered call options.

Rev. Rul. 2002-68(PDF, 21K)
2002 base period T-bill rate. The "base period T-bill rate" for the period ending September 30, 2002, is published, as required by section 995(f) of the Code.

Rev. Rul. 2002-74(PDF, 15K)
Federal rates; adjusted federal rates; adjusted federal long-term rate and the long-term exempt rate. For purposes of sections 382, 1274, 1288, and other sections of the Code, tables set forth the rates for November 2002.

Rev. Rul. 2002-75(PDF, 17K)
Tax-free exchange of annuity contracts. This ruling states that the transfer of an entire annuity contract into another pre-existing annuity contract qualifies as a tax-free exchange and defines the basis and investment in the contract for the surviving contract.

Rev. Rul. 2002-77(PDF, 22K)
LIFO; price indexes; department stores. The September 2002 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, September 30, 2002.


Notice 2002-71(PDF, 18K)
Retirement plans; year 2003 section 415(d) limitations. This notice sets forth certain cost-of-living adjustments effective January 1, 2003, applicable to the dollar limits on benefits under qualified defined benefit pension plans and to other provisions affecting (1) certain plans of deferred compensation and (2) "control employees."

Rev. Rul. 2002-63(PDF, 18K)
Covered compensation tables; 2003. Covered compensation tables under section 401 of the Code for the year 2003 are provided for use in determining contributions to defined benefit plans and permitted disparity.

Rev. Rul. 2002-73(PDF, 19K)
Deductibility; timing. This ruling modifies Rev. Rul. 2002-46 to provide that the scope limitations imposed by Revenue Procedure 2002-9 (providing for automatic consent to change a method of accounting) are waived for taxpayers who wish to change their method of accounting to comply with the holding of Rev. Rul. 2002-46. This applies only for the taxpayers� first taxable year ending on or after October 16, 2002, effective on that date. Rev. Rul. 2002-46 modified. Revenue Procedure 2002-9 modified and amplified.


Announcement 2002-103(PDF, 16K)
This announcement corrects Announcement 2002-92, 2002-41 I.R.B. 709, by amending the e-mail address to which comments may be sent. These two announcements request comments regarding proposed revisions of Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, and Instructions for Form 1023.

Announcement 2002-104(PDF, 22K)
A list is provided of organizations now classified as private foundations.


Rev. Proc. 2002-69(PDF, 16K)
This procedure provides guidance on the classification for federal tax purposes of a qualified entity (described in section 3.02 of this procedure) that is owned solely by a husband and wife as community property under the laws of a state, a foreign country, or a possession of the United States.

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