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									Internal Revenue                                                                          Bulletin No. 1998–25
                                                                                                 June 22, 1998

These synopses are intended only as aids to the reader in
identifying the subject matter covered. They may not be
relied upon as authoritative interpretations.

INCOME TAX                                                      before an employee’s compensation can be contributed to
                                                                an employer’s section 401(k) plan in the absence of an affir-
Rev. Rul. 98–31, page 4.                                        mative election by the employee.
Low-income housing credit; satisfactory bond; “bond
factor” amounts for the period April through June               Notice 98–33, page 10.
1998. This ruling announces the monthly bond factor             Weighted average interest rate update. Guidelines are
amounts to be used by taxpayers who dispose of qualified        set forth for determining for June 1998, the weighted aver-
low-income buildings or interests therein during the period     age interest rate and the resulting permissible range of in-
April through June 1998.                                        terest rates used to calculate current liability for purposes of
                                                                the full funding limitation of section 412(c)(7) of the Code as
Rev. Rul. 98–32, page 4.                                        amended by the Omnibus Budget Reconciliation Act of 1987
Interest rates; underpayments and overpayments. The             and by the Uruguay Round Agreements Act (GATT).
rate of interest determined under section 6621 of the Code
for the calendar quarter beginning July 1, 1998, will be 7
percent for overpayments, 8 percent for underpayments,
and 10 percent for large corporate underpayments. The rate      EXEMPT ORGANIZATIONS
of interest paid on the portion of a corporate overpayment      Announcement 98–54, page 11.
exceeding $10,000 is 5.5 percent.                               A list is given of organizations now classified as private foun-

Rev. Rul. 98–30, page 8.
Qualified cash or deferred arrangement; participa-
tion. This ruling describes certain criteria that must be met

Finding Lists begin on page 17.
Announcement of the Expedited Suspension of Attorneys, Certified Public Accountants, Enrolled Agents, and Enrolled
Actuaries From Practice Before the Internal Revenue Service begins on page 14.

         Department of the Treasury
         Internal Revenue Service
Mission of the Service

The purpose of the Internal Revenue Service is to collect                ucts and services; and perform in a manner warranting
the proper amount of tax revenue at the least cost; serve                the highest degree of public confidence in our integrity, effi-
the public by continually improving the quality of our prod-             ciency, and fairness.

Statement of Principles
of Internal Revenue
Tax Administration
The function of the Internal Revenue Service is to adminis-              The Service also has the responsibility of applying and
ter the Internal Revenue Code. Tax policy for raising revenue            administering the law in a reasonable, practical manner.
is determined by Congress.                                               Issues should only be raised by examining officers when
                                                                         they have merit, never arbitrarily or for trading purposes.
With this in mind, it is the duty of the Service to carry out that       At the same time, the examining officer should never hesi-
policy by correctly applying the laws enacted by Congress;               tate to raise a meritorious issue. It is also important that
to determine the reasonable meaning of various Code provi-               care be exercised not to raise an issue or to ask a court to
sions in light of the Congressional purpose in enacting them;            adopt a position inconsistent with an established Service
and to perform this work in a fair and impartial manner, with            position.
neither a government nor a taxpayer point of view.
                                                                         Administration should be both reasonable and vigorous. It
At the heart of administration is interpretation of the Code. It         should be conducted with as little delay as possible and
is the responsibility of each person in the Service, charged             with great courtesy and considerateness. It should never
with the duty of interpreting the law, to try to find the true           try to overreach, and should be reasonable within the
meaning of the statutory provision and not to adopt a                    bounds of law and sound administration. It should, howev-
strained construction in the belief that he or she is “protect-          er, be vigorous in requiring compliance with law and it
ing the revenue.” The revenue is properly protected only                 should be relentless in its attack on unreal tax devices and
when we ascertain and apply the true meaning of the statute.             fraud.

The Internal Revenue Bulletin is the authoritative instrument                                           dures must be considered, and Service personnel and oth-
of the Commissioner of Internal Revenue for announcing offi-                                            ers concerned are cautioned against reaching the same con-
cial rulings and procedures of the Internal Revenue Service                                             clusions in other cases unless the facts and circumstances
and for publishing Treasury Decisions, Executive Orders, Tax                                            are substantially the same.
Conventions, legislation, court decisions, and other items of
general interest. It is published weekly and may be obtained                                            The Bulletin is divided into four parts as follows:
from the Superintendent of Documents on a subscription
basis. Bulletin contents of a permanent nature are consoli-
dated semiannually into Cumulative Bulletins, which are sold                                            Part I.—1986 Code.
on a single-copy basis.                                                                                 This part includes rulings and decisions based on provisions
                                                                                                        of the Internal Revenue Code of 1986.

It is the policy of the Service to publish in the Bulletin all sub-
                                                                                                        Part II.—Treaties and Tax Legislation.
stantive rulings necessary to promote a uniform application
                                                                                                        This part is divided into two subparts as follows: Subpart A,
of the tax laws, including all rulings that supersede, revoke,
                                                                                                        Tax Conventions, and Subpart B, Legislation and Related
modify, or amend any of those previously published in the
                                                                                                        Committee Reports.
Bulletin. All published rulings apply retroactively unless other-
wise indicated. Procedures relating solely to matters of in-
ternal management are not published; however, statements                                                Part III.—Administrative, Procedural, and Miscellaneous.
of internal practices and procedures that affect the rights                                             To the extent practicable, pertinent cross references to
and duties of taxpayers are published.                                                                  these subjects are contained in the other Parts and Sub-
                                                                                                        parts. Also included in this part are Bank Secrecy Act Admin-
                                                                                                        istrative Rulings. Bank Secrecy Act Administrative Rulings
Revenue rulings represent the conclusions of the Service on
                                                                                                        are issued by the Department of the Treasury’s Office of the
the application of the law to the pivotal facts stated in the
                                                                                                        Assistant Secretary (Enforcement).
revenue ruling. In those based on positions taken in rulings
to taxpayers or technical advice to Service field offices,
identifying details and information of a confidential nature                                            Part IV.—Items of General Interest.
are deleted to prevent unwarranted invasions of privacy and                                             With the exception of the Notice of Proposed Rulemaking
to comply with statutory requirements.                                                                  and the disbarment and suspension list included in this part,
                                                                                                        none of these announcements are consolidated in the Cumu-
                                                                                                        lative Bulletins.
Rulings and procedures reported in the Bulletin do not have
the force and effect of Treasury Department Regulations,
but they may be used as precedents. Unpublished rulings                                                 The first Bulletin for each month includes a cumulative index
will not be relied on, used, or cited as precedents by Service                                          for the matters published during the preceding months.
personnel in the disposition of other cases. In applying pub-                                           These monthly indexes are cumulated on a semiannual basis
lished rulings and procedures, the effect of subsequent leg-                                            and are published in the first Bulletin of the succeeding semi-
islation, regulations, court decisions, rulings, and proce-                                             annual period, respectively.

The contents of this publication are not copyrighted and may be reprinted freely. A citation of the Internal Revenue Bulletin as the source would be appropriate.

For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402.

Part I. Rulings and Decisions Under the Internal Revenue Code of 1986
Section 42.—Low-Income                               Internal Revenue Service provided guid-                     This revenue ruling provides in Table 1
Housing Credit                                       ance to taxpayers concerning the general                 the bond factor amounts for calculating
                                                     methodology used by the Treasury De-                     the amount of bond considered satisfac-
   Low-income housing credit; satisfactory           partment in computing the bond factor                    tory under § 42(j)(6) for dispositions of
bond; “bond factor” amounts for the period
April through June 1998. This ruling announces
                                                     amounts used in calculating the amount of                qualified low-income buildings or inter-
the monthly bond factor amounts to be used by tax-   bond considered satisfactory by the Sec-                 ests therein during the period April
payers who dispose of qualified low-income build-    retary under § 42(j)(6) of the Internal                  through June 1998.
ings or interests therein during the period April    Revenue Code. It further announced that
through June 1998.                                   the Secretary would publish in the Inter-
                                                     nal Revenue Bulletin a table of “bond fac-
Rev. Rul. 98–31                                      tor” amounts for dispositions occurring
  In Rev. Rul. 90–60, 1990–2 C.B. 3, the             during each calendar month.

                                                                   Table 1
                                                               Rev. Rul. 98–31
                                            Monthly Bond Factor Amounts for Dispositions Expressed
                                                       As a Percentage of Total Credits

                                                     Calendar Year Building Placed in Service
                                                     or, if Section 42(f)(1) Election Was Made,
                                                            the Succeeding Calendar Year

   Month of
   Disposition          1987        1988        1989       1990        1991        1992       1993          1994    1995      1996     1997     1998

   Apr ’98              61.09       75.25       75.96      77.87       80.16      82.79      85.46      87.97       90.41    93.03     95.60    97.21
   May ’98              61.09       75.25       75.75      77.65       79.93      82.55      85.20      87.69       90.12    92.74     95.31    97.21
   Jun ’98              61.09       75.25       75.54      77.44       79.71      82.31      84.95      87.43       89.85    92.46     95.05    97.21

   For a list of bond factor amounts ap-             ments. The rate of interest determined under section     determined by substituting “5 percentage
plicable to dispositions occurring during            6621 of the Code for the calendar quarter beginning      points” for “3 percentage points.” See
                                                     July 1, 1998, will be 7 percent for overpayments, 8
other calendar years, see the following                                                                       § 6621(c) and § 301.6621–3 of the Regu-
                                                     percent for underpayments, and 10 percent for large
revenue rulings: Rev. Rul. 95–83,                    corporate underpayments. The rate of interest paid       lations on Procedure and Administration
1995–2 C.B. 8, for dispositions occurring            on the portion of a corporate overpayment exceed-        for the definition of a large corporate un-
during calendar year 1995; Rev. Rul. 98-             ing $10,000 is 5.5 percent.                              derpayment and for the rules for deter-
3, 1998–2 I.R.B. 4, for dispositions occur-                                                                   mining the applicable date. Section
ring during the calendar years 1996 and              Rev. Rul. 98–32                                          6621(c) and § 301.6621–3 are generally
1997; and Rev. Rul. 98–13, 1998–11                      Section 6621 of the Internal Revenue                  effective for periods after December 31,
I.R.B. 4, for dispositions occurring the             Code establishes different rates for inter-              1990.
period January through March 1998.                   est on tax overpayments and interest on                     Section 6621(b)(1) provides that the
DRAFTING INFORMATION                                 tax underpayments. Under § 6621(a)(1),                   Secretary will determine the federal short-
                                                     the overpayment rate is the sum of the                   term rate for the first month in each calen-
   The principal author of this revenue              federal short-term rate plus 2 percentage                dar quarter.
ruling is Jack Malgeri of the Office of As-          points, except the rate for the portion of a                Section 6621(b)(2)(A) provides that the
sistant Chief Counsel (Passthroughs and              corporate overpayment of tax exceeding                   federal short-term rate determined under
Special Industries). For further informa-            $10,000 for a taxable period is the sum of               § 6621(b)(1) for any month applies during
tion regarding this revenue ruling, contact          the federal short-term rate plus 0.5 of a                the first calendar quarter beginning after
Mr. Malgeri at (202) 622-3040 (not a toll-           percentage point for interest computations               such month.
free call).                                          made after December 31, 1994. Under §                       Section 6621(b)(3) provides that the
                                                     6621(a)(2), the underpayment rate is the                 federal short-term rate for any month is
                                                     sum of the federal short-term rate plus 3                the federal short-term rate determined
Section 6621.— Determination                         percentage points.                                       during such month by the Secretary in ac-
of Interest Rate                                        Section 6621(c) provides that for pur-                cordance with § 1274(d), rounded to the
                                                     poses of interest payable under § 6601 on                nearest full percent (or, if a multiple of
26 CFR 301.6621–1: Interest rate.
                                                     any large corporate underpayment, the                    1/2 of 1 percent, the rate is increased to
  Interest rates; underpayments and overpay-         underpayment rate under § 6621(a)(2) is                  the next highest full percent).
June 22, 1998                                                                 4                                                      1998–25 I.R.B.
   Notice 88–59, 1988–1 C.B. 546, an-         cent are established for the calendar quar-   Rev. Proc. 95–17, 1995–1 C.B. 556, 570,
nounced that, in determining the quarterly    ter beginning July 1, 1998. The overpay-      573, 575, and 579.
interest rates to be used for overpayments    ment rate for the portion of a corporate         Annual interest rates to be compounded
and underpayments of tax under § 6621,        overpayment exceeding $10,000 for the         daily pursuant to § 6622 that apply for
the Internal Revenue Service will use the     calendar quarter beginning July 1, 1998,      prior periods are set forth in the tables ac-
federal short-term rate based on daily        is 5.5 percent. The underpayment rate for     companying this revenue ruling.
compounding because that rate is most         large corporate underpayments for the
consistent with § 6621 which, pursuant to     calendar quarter beginning July 1, 1998,      DRAFTING INFORMATION
§ 6622, is subject to daily compounding.      is 10 percent. These rates apply to              The principal author of this revenue
   Rounded to the nearest full percent, the   amounts bearing interest during that cal-     ruling is Raymond Bailey of the Office of
federal short- term rate based on daily       endar quarter.                                Assistant Chief Counsel (Income Tax and
compounding determined during the                Interest factors for daily compound in-    Accounting). For further information re-
month of April 1998 is 5 percent. Ac-         terest for annual rates of 5.5 percent, 7     garding this revenue ruling, contact Mr.
cordingly, an overpayment rate of 7 per-      percent, 8 percent, and 10 percent are        Bailey on (202) 622-6226 (not a toll-free
cent and an underpayment rate of 8 per-       published in Tables 16, 19, 21, and 25 of     call).

                                                  TABLE OF INTEREST RATES
                             PERIODS BEFORE JUL. 1, 1975 — PERIODS ENDING DEC. 31, 1986
                                          OVERPAYMENTS AND UNDERPAYMENTS
                                                                                                        DAILY RATE TABLE
      PERIOD                                                                       RATE                   IN 1995–1 C.B.
      Before Jul. 1, 1975                                                            6%                   Table 2, pg. 557
      Jul. 1, 1975—Jan. 31, 1976                                                     9%                   Table 4, pg. 559
      Feb. 1, 1976—Jan. 31, 1978                                                     7%                   Table 3, pg. 558
      Feb. 1, 1978—Jan. 31, 1980                                                     6%                   Table 2, pg. 557
      Feb. 1, 1980—Jan. 31, 1982                                                    12%                   Table 5, pg. 560
      Feb. 1, 1982—Dec. 31, 1982                                                    20%                   Table 6, pg. 560
      Jan. 1, 1983—Jun. 30, 1983                                                    16%                   Table 37, pg. 591
      Jul. 1, 1983—Dec. 31, 1983                                                    11%                   Table 27, pg. 581
      Jan. 1, 1984—Jun. 30, 1984                                                    11%                   Table 75, pg. 629
      Jul. 1, 1984—Dec. 31, 1984                                                    11%                   Table 75, pg. 629
      Jan. 1, 1985—Jun. 30, 1985                                                    13%                   Table 31, pg. 585
      Jul. 1, 1985—Dec. 31, 1985                                                    11%                   Table 27, pg. 581
      Jan. 1, 1986—Jun. 30, 1986                                                    10%                   Table 25 pg. 579
      Jul. 1, 1986—Dec. 31, 1986                                                     9%                   Table 23, pg. 577

1998–25 I.R.B.                                                    5                                                  June 22, 1998
                                  TABLE OF INTEREST RATES

                                 FROM JAN. 1, 1987 — PRESENT

                                              OVERPAYMENTS             UNDERPAYMENTS

                                            RATE      TABLE     PG    RATE   TABLE      PG
                                                   1995– C.B.             1995–1 C.B.
    Jan. 1, 1987—Mar. 31, 1987               8%        21       575    9%      23       577
    Apr. 1, 1987—Jun. 30, 1987               8%        21       575    9%      23       577
    Jul. 1, 1987—Sep. 30, 1987               8%        21       575    9%      23       577
    Oct. 1, 1987—Dec. 31, 1987               9%        23       577   10%      25       579
    Jan. 1, 1988—Mar. 31, 1988              10%        73       627   11%      75       629
    Apr. 1, 1988—Jun. 30, 1988               9%        71       625   10%      73       627
    Jul. 1, 1988—Sep. 30, 1988               9%        71       625   10%      73       627
    Oct. 1, 1988—Dec. 31, 1988              10%        73       627   11%      75       629
    Jan. 1, 1989—Mar. 31, 1989              10%        25       579   11%      27       581
    Apr. 1, 1989—Jun. 30, 1989              11%        27       581   12%      29       583
    Jul. 1, 1989—Sep. 30, 1989              11%        27       581   12%      29       583
    Oct. 1, 1989—Dec. 31, 1989              10%        25       579   11%      27       581
    Jan. 1, 1990—Mar. 31, 1990              10%        25       579   11%      27       581
    Apr. 1, 1990—Jun. 30, 1990              10%        25       579   11%      27       581
    Jul. 1, 1990—Sep. 30, 1990              10%        25       579   11%      27       581
    Oct. 1, 1990—Dec. 31, 1990              10%        25       579   11%      27       581
    Jan. 1, 1991—Mar. 31, 1991              10%        25       579   11%      27       581
    Apr. 1, 1991—Jun. 30, 1991               9%        23       577   10%      25       579
    Jul. 1, 1991—Sep. 30, 1991               9%        23       577   10%      25       579
    Oct. 1, 1991—Dec. 31, 1991               9%        23       577   10%      25       579
    Jan. 1, 1992—Mar. 31, 1992               8%        69       623    9%      71       625
    Apr. 1, 1992—Jun. 30, 1992               7%        67       621    8%      69       623
    Jul. 1, 1992—Sep. 30, 1992               7%        67       621    8%      69       623
    Oct. 1, 1992—Dec. 31, 1992               6%        65       619    7%      67       621
    Jan. 1, 1993—Mar. 31, 1993               6%        17       571    7%      19       573
    Apr. 1, 1993—Jun. 30, 1993               6%        17       571    7%      19       573
    Jul. 1, 1993—Sep. 30, 1993               6%        17       571    7%      19       573
    Oct. 1, 1993—Dec. 31, 1993               6%        17       571    7%      19       573
    Jan. 1, 1994—Mar. 31, 1994               6%        17       571    7%      19       573
    Apr. 1, 1994—Jun. 30, 1994               6%        17       571    7%      19       573
    Jul. 1, 1994—Sep. 30, 1994               7%        19       573    8%      21       575
    Oct. 1, 1994—Dec. 31, 1994               8%        21       575    9%      23       577
    Jan. 1, 1995—Mar. 31, 1995               8%        21       575    9%      23       577
    Apr. 1, 1995—Jun. 30, 1995               9%        23       577   10%      25       579
    Jul. 1, 1995—Sep. 30, 1995               8%        21       575    9%      23       577
    Oct. 1, 1995—Dec. 31, 1995               8%        21       575    9%      23       577
    Jan. 1, 1996—Mar. 31, 1996               8%        69       623    9%      71       625
    Apr. 1, 1996—Jun. 30, 1996               7%        67       621    8%      69       623
    Jul. 1, 1996—Sep. 30, 1996               8%        69       623    9%      71       625
    Oct. 1, 1996—Dec. 31, 1996               8%        69       623    9%      71       625
    Jan. 1, 1997—Mar. 31, 1997               8%        21       575    9%      23       577
    Apr. 1, 1997—Jun. 30, 1997               8%        21       575    9%      23       577
    Jul. 1, 1997—Sep. 30, 1997               8%        21       575    9%      23       577
    Oct. 1, 1997—Dec. 31, 1997               8%        21       575    9%      23       577
    Jan. 1, 1998—Mar. 31, 1998               8%        21       575    9%      23       577
    Apr. 1, 1998—Jun. 30, 1998               7%        19       573    8%      21       575
    Jul. 1, 1998—Sep. 30, 1998               7%        19       573    8%      21       575

June 22, 1998                                6                                 1998–25 I.R.B.
                                    FROM JANUARY 1, 1991 — PRESENT
                                                                         RATE   TABLE       PG
                                                                             1995–1 C.B.
    Jan. 1, 1991—Mar. 31, 1991                                           13%       31       585
    Apr. 1, 1991—Jun. 30, 1991                                           12%       29       583
    Jul. 1, 1991—Sep. 30, 1991                                           12%       29       583
    Oct. 1, 1991—Dec. 31, 1991                                           12%       29       583
    Jan. 1, 1992—Mar. 31, 1992                                           11%       75       629
    Apr. 1, 1992—Jun. 30, 1992                                           10%       73       627
    Jul. 1, 1992—Sep. 30, 1992                                           10%       73       627
    Oct. 1, 1992—Dec. 31, 1992                                            9%       71       625
    Jan. 1, 1993—Mar. 31, 1993                                            9%       23       577
    Apr. 1, 1993—Jun. 30, 1993                                            9%       23       577
    Jul. 1, 1993—Sep. 30, 1993                                            9%       23       577
    Oct. 1, 1993—Dec. 31, 1993                                            9%       23       577
    Jan. 1, 1994—Mar. 31, 1994                                            9%       23       577
    Apr. 1, 1994—Jun. 30, 1994                                            9%       23       577
    Jul. 1, 1994—Sep. 30, 1994                                           10%       25       579
    Oct. 1, 1994—Dec. 31, 1994                                           11%       27       581
    Jan. 1, 1995—Mar. 31, 1995                                           11%       27       581
    Apr. 1, 1995—Jun. 30, 1995                                           12%       29       583
    Jul. 1, 1995—Sep. 30, 1995                                           11%       27       581
    Oct. 1, 1995—Dec. 31, 1995                                           11%       27       581
    Jan. 1, 1996—Mar. 31, 1996                                           11%       75       629
    Apr. 1, 1996—Jun. 30, 1996                                           10%       73       627
    Jul. 1, 1996—Sep. 30, 1996                                           11%       75       629
    Oct. 1, 1996—Dec. 31, 1996                                           11%       75       629
    Jan. 1, 1997—Mar. 31, 1997                                           11%       27       581
    Apr. 1, 1997—Jun. 30, 1997                                           11%       27       581
    Jul. 1, 1997—Sep. 30, 1997                                           11%       27       581
    Oct. 1, 1997—Dec. 31, 1997                                           11%       27       581
    Jan. 1, 1998—Mar. 31, 1998                                           11%       27       581
    Apr. 1, 1998—Jun. 30, 1998                                           10%       25       579
    Jul. 1, 1998—Sep. 30, 1998                                           10%       25       579

                                 TABLE OF INTEREST RATES FOR CORPORATE
                                    OVERPAYMENTS EXCEEDING $10,000
                                    FROM JANUARY 1, 1995 — PRESENT
                                                                         RATE    TABLE      PG
                                                                              1995–1 C.B.
    Jan. 1, 1995—Mar. 31, 1995                                            6.5%      18      572
    Apr. 1, 1995—Jun. 30, 1995                                            7.5%      20      574
    Jul. 1, 1995—Sep. 30, 1995                                            6.5%      18      572
    Oct. 1, 1995—Dec. 31, 1995                                            6.5%      18      572
    Jan. 1, 1996—Mar. 31, 1996                                            6.5%      66      620
    Apr. 1, 1996—Jun. 30, 1996                                            5.5%      64      618
    Jul. 1, 1996—Sep. 30, 1996                                            6.5%      66      620
    Oct. 1, 1996—Dec. 31, 1996                                            6.5%      66      620
    Jan. 1, 1997—Mar. 31, 1997                                            6.5%      18      572
    Apr. 1, 1997—Jun. 30, 1997                                            6.5%      18      572
    Jul. 1, 1997—Sep. 30, 1997                                            6.5%      18      572
    Oct. 1, 1997—Dec. 31, 1997                                            6.5%      18      572
    Jan. 1, 1998—Mar. 31, 1998                                            6.5%      18      572
    Apr. 1, 1998—Jun. 30, 1998                                            5.5%      16      570
    Jul. 1. 1998—Sep. 30, 1998                                            5.5%      16      570

1998–25 I.R.B.                                    7                                 June 22, 1998
Section 401.—Qualified                                   tions or to contribute a different percent-     among a broad range of investment funds
Pension, Profit-Sharing and                              age of compensation can be made at any          held by the trustee or, if no investment
Stock Bonus Plans, etc.                                  time. The election is effective for the first   election is made by the participant, in the
                                                         pay period and subsequent pay periods           trust’s balanced fund which includes both
26 CFR 1.401(k)–1: Certain cash or deferred              (until superseded by a subsequent elec-         diversified equity and fixed income in-
arrangements.                                            tion) if filed when the employee is hired       vestments.1
    Qualified cash or deferred arrangement; par-         or if filed within a reasonable period
ticipation. This revenue ruling describes certain cri-   thereafter ending before the compensation       LAW AND ANALYSIS
teria that must be met before an employee’s com-         for the first pay period is currently avail-       Section 401(k) provides that a profit-
pensation can be contributed to an employer’s            able. Thus, if an employee files an elec-
section 401(k) plan in the absence of an affirmative                                                     sharing or stock bonus plan, a pre-ERISA
                                                         tion to receive cash in lieu of compensa-
election by the employee.                                                                                money purchase plan, or a rural coopera-
                                                         tion reduction contributions and the
                                                                                                         tive plan can meet the requirements of
Rev. Rul. 98–30                                          election is filed when the employee is
                                                                                                         § 401(a) even if it includes a qualified
                                                         hired or within a reasonable period there-
                                                                                                         cash or deferred arrangement. Section
ISSUE                                                    after ending before the compensation is
                                                                                                         401(k) also sets forth the requirements
                                                         currently available (and if the employee
                                                                                                         that a cash or deferred arrangement must
   Will employer contributions to a profit-              does not later elect to have compensation
                                                                                                         satisfy in order to be a qualified cash or
sharing plan fail to be considered elective              reduction contributions made), then no
                                                                                                         deferred arrangement.
contributions, within the meaning of                     compensation reduction contributions for
                                                                                                            Section 1.401(k)–1(a)(2)(i) defines a
§ 1.401(k)–1(g)(3) of the Income Tax                     the first pay period are made on the em-
Regulations, made under a qualified cash                                                                 cash or deferred arrangement as an
                                                         ployee’s behalf to Plan A. Elections filed
or deferred arrangement, within the                                                                      arrangement under which an eligible em-
                                                         at a later date are effective for payroll pe-
meaning of § 401(k) of the Internal Rev-                                                                 ployee may make a cash or deferred elec-
                                                         riods beginning in the month next follow-
enue Code, merely because they are made                                                                  tion with respect to contributions to, or
                                                         ing the date the election is filed.
pursuant to an arrangement under which,                                                                  accruals or other benefits under, a plan
                                                            At the time an employee is hired, the
in any case in which an employee does                                                                    that is intended to satisfy the requirements
                                                         employee receives a notice that explains
not affirmatively elect to receive cash, the                                                             of § 401(a). Section 1.401(k)–1(a)(2)(ii)
                                                         the automatic compensation reduction
employee’s compensation is reduced by a                                                                  provides that a cash or deferred arrange-
                                                         election and the employee’s right to elect
fixed percentage and that amount is con-                 to have no such compensation reduction          ment does not include an arrangement
tributed on the employee’s behalf to the                 contributions made to the plan or to alter      under which amounts contributed under a
plan?                                                    the amount of those contributions, includ-      plan at an employee’s election are desig-
                                                         ing the procedure for exercising that right     nated or treated at the time of contribution
FACTS                                                                                                    as after-tax employee contributions.
                                                         and the timing for implementation of any
                                                         such election. The employee is subse-              Section 1.401(k)–1(a)(3)(i) defines a
   Employer X maintains Plan A, a profit-
                                                         quently notified annually of his or her         cash or deferred election as any election
sharing plan intended to satisfy the re-
                                                         compensation reduction percentage and           (or modification of an earlier election) by
quirements of § 401(a), including
                                                         the employee’s right to change the per-         an employee to have the employer either
§§ 401(k) and 401(m). Under Plan A, any
                                                         centage.                                        provide an amount to the employee in the
employee of Employer X, including an
                                                            Plan A provides that compensation re-        form of cash (or some other taxable bene-
employee with less than one year of ser-
                                                         duction contributions are immediately           fit) that is not currently available or con-
vice, may elect to have Employer X make
contributions on the employee’s behalf to                nonforfeitable and, if the employee has         tribute an amount to a trust (or provide an
Plan A in lieu of receiving that amount as               not attained age 591⁄2, cannot be distrib-      accrual or other benefit) under a plan de-
cash compensation that would otherwise                   uted prior to the employee’s retirement,        ferring the receipt of compensation. Sec-
be payable to the employee. The em-                      death, or separation from service except        tion 1.401(k)–1(a)(3)(iv) provides that a
ployee may designate the amount of these                 in the case of hardship (as defined in the          1The Department of Labor has advised Treasury
compensation reduction contributions as a                plan). Plan A also provides that, for each
                                                                                                         and the Service that, under Title I of the Employee
percentage of the employee’s compensa-                   employee who has at least 1 year of ser-        Retirement Income Security Act of 1974 (ERISA),
tion, subject to certain limitations set                 vice, Employer X will make matching             fiduciaries of a plan must ensure that the plan is ad-
forth in the plan.                                       contributions to Plan A on account of the       ministered prudently and solely in the interest of
   Under Plan A, a newly hired employee                  employee’s compensation reduction con-          plan participants and beneficiaries. While ERISA §
                                                                                                         404(c) may serve to relieve certain fiduciaries from
is immediately eligible to participate in                tributions up to a specified percentage of      liability when participants or beneficiaries exercise
Plan A. If the employee does not affirma-                the employee’s compensation. Plan A             control over the assets in their individual accounts,
tively elect to receive cash or have a spec-             does not permit after-tax employee contri-      the Department of Labor has taken the position that
ified amount contributed to Plan A, his or               butions.                                        a participant or beneficiary will not be considered to
her compensation is automatically re-                       Plan A provides that both matching           have exercised control when the participant or bene-
                                                                                                         ficiary is merely apprised of investments that will be
duced by 3 percent and this amount is                    contributions and compensation reduction        made on his or her behalf in the absence of instruc-
contributed to Plan A. An election not to                contributions will be invested in accor-        tions to the contrary. See 29 CFR § 2550.404c–1
make compensation reduction contribu-                    dance with the participant’s election           and 57 FR 46924.

June 22, 1998                                                                 8                                                      1998–25 I.R.B.
cash or deferred election does not include        If Plan A were to permit after-tax em-      the meaning of § 401(k) merely because
a one-time irrevocable election, made at       ployee contributions, then the amounts         they are made pursuant to an arrangement
the time an employee commences em-             contributed to the plan would have to be       under which, in any case in which an em-
ployment with the employer or upon the         designated or treated, at the time of the      ployee does not affirmatively elect to re-
employee’s first becoming eligible under       contribution, as pre-tax compensation re-      ceive cash, the employee’s compensation
any plan of the employer, to have contri-      duction contributions or after-tax em-         is reduced by a fixed percentage and that
butions made by the employer on the em-        ployee contributions.                          amount is contributed on the employee’s
ployee’s behalf to the plan (or to any other      Compensation reduction contributions        behalf to the plan.
plan of the employer) equal to a specified     made by Employer X to Plan A (including
amount or percentage of the employee’s         those made if the employee has not filed       PAPERWORK REDUCTION ACT
compensation.                                  an election to the contrary) are amounts          The collection of information con-
   Section 1.401(k)–1(e)(2) provides gen-      contributed pursuant to a procedure under      tained in this revenue ruling has been re-
erally that a qualified cash or deferred       which the employee receives a notice ex-       viewed and approved by the Office of
arrangement must provide that the              plaining his or her rights to have no com-     Management and Budget (OMB) in ac-
amount that each eligible employee may         pensation reduction contribution and,          cordance with the Paperwork Reduction
defer as an elective contribution is avail-    after receiving the notice, the employee       Act (44 U.S.C. 3507) under control num-
able to the employee in cash.                  has a reasonable period before the cash is     ber 1545-1605.
   Section 1.401(k)–1(g)(3) defines elec-      currently available in which to elect to re-      An agency may not conduct or sponsor,
tive contributions as employer contribu-       ceive the cash in lieu of having an em-        and a person is not required to respond to,
tions made to a plan that were subject to a    ployer contribution made to the plan in        a collection of information unless the col-
cash or deferred election under a cash or      that amount. Thus, an eligible employee        lection of information displays a valid
deferred arrangement. Such contributions       has an effective opportunity to elect to re-   OMB control number.
are elective contributions without regard      ceive cash or have a contribution made to         The collection of information in this
to whether the cash or deferred arrange-       the plan on the employee’s behalf. In ad-      revenue ruling is in the sixth paragraph in
ment is a qualified cash or deferred           dition, compensation reduction contribu-       the section headed “LAW AND ANALY-
arrangement.                                   tions made under the plan are not contri-      SIS.” This information is required in
   The definition of a cash or deferred        butions made pursuant to a one-time            order for certain employee elections to
election in § 1.401(k)–1(a)(3)(i) requires     irrevocable election because the em-           meet the requirements of § 401(k). The
that the employee have an election be-         ployee can change the election in the fu-      collection of information is required to
tween the employer paying cash (or some        ture. Consequently, the compensation re-       obtain a benefit. The likely respondents
other taxable benefit) to the employee or      duction contributions under Plan A are         are businesses or other for-profit institu-
making a contribution to a trust on behalf     made pursuant to a cash or deferred elec-      tions, and not-for-profit institutions.
of the employee. The regulation does not       tion and satisfy the requirement in               The estimated total annual reporting
require that the employee receive an
                                               § 1.401(k)–1(a)(3)(i) that the amount that     burden is 1,000 hours. The estimated an-
amount in cash in any case in which the
                                               each eligible employee may defer as an         nual burden per respondent is 1 hour. The
employee does not make an affirmative
                                               elective contribution be available to the      estimated number of respondents is 1,000.
election to have that amount contributed
                                               employee in cash. The result would be             Books or records relating to a collec-
to the trust. Thus, a cash or deferred elec-
                                               the same if the plan required a period of      tion of information must be retained as
tion will not fail to be made under a quali-
                                               service (permitted under § 401(k)(2)(D))       long as their contents may become mater-
fied cash or deferred arrangement merely
                                               before an employee became eligible for         ial in the administration of any Internal
because, when an employee fails to make
                                               elective contributions.                        Revenue law. Generally, tax returns and
an affirmative election with respect to an
amount of compensation, that amount is                                                        tax return information are confidential, as
                                               HOLDING                                        required by 26 U.S.C. 6103.
contributed on the employee’s behalf to a
trust, provided that the employee had an          Where, as in this case, an eligible em-     DRAFTING INFORMATION
effective opportunity to elect to receive      ployee has an effective opportunity to
that amount in cash. The employee has          elect to receive cash or have that amount         The principal author of this revenue
an effective opportunity to elect to receive   contributed by the employer to a profit-       ruling is Roger Kuehnle of the Employee
an amount in cash as required under            sharing plan, those employer contribu-         Plans Division. For further information
§ 1.401(k)–1(a)(3)(i) if the employee re-      tions made on the employee’s behalf to         regarding this revenue ruling, call the
ceives notice of the availability of the       the plan in lieu of receipt of cash compen-    Employee Plans Division’s taxpayer as-
election and the employee has a reason-        sation will not fail to be considered elec-    sistance telephone service at (202) 622-
able period to make the election before        tive contributions within the meaning of       6074/6075 (not toll-free numbers) be-
the date on which the cash is currently        § 1.401(k)–1(g)(3) made under a quali-         tween 1:30 and 3:30 p.m. Eastern Time,
available.                                     fied cash or deferred arrangement within       Monday through Thursday.

1998–25 I.R.B.                                                      9                                                 June 22, 1998
Part III. Administrative, Procedural, and Miscellaneous
Weighted Average Interest Rate                interest rates used to calculate current lia-      The average yield on the 30-year Trea-
Update                                        bility for the purpose of the full funding      sury Constant Maturities for May 1998 is
                                              limitation of § 412(c)(7) of the Internal       5.93 percent.
Notice 98–33                                  Revenue Code as amended by the Om-                 The following rates were determined
                                              nibus Budget Reconciliation Act of 1987         for the plan years beginning in the month
   Notice 88–73 provides guidelines for       and as further amended by the Uruguay           shown below.
determining the weighted average interest     Round Agreements Act, Pub. L. 103–465
rate and the resulting permissible range of   (GATT).

                                                                                      90% to 106%                90% to 110%
                                                            Weighted                   Permissible                Permissible
         Month                     Year                     Average                      Range                      Range
         June                     1998                        6.59                      5.93 to 6.99              5.93 to 7.25

Drafting Information                          this notice, call (202) 622-6076 between
                                              2:30 and 3:30 p.m. Eastern time (not a
   The principal author of this notice is     toll-free number). Ms. Prestia’s number
Donna Prestia of the Employee Plans Di-       is (202) 622-7473 (also not a toll-free
vision. For further information regarding     number).

June 22, 1998                                                     10                                               1998–25 I.R.B.
Part IV. Items of General Interest
Foundations Status of Certain                  Collegium Aesculapium Foundation, Inc.,     Joseph E. Mertz Memorial Educational
Organizations                                     Provo, UT                                   Foundation, Inc., Cleveland, TN
                                               Computer Recycling Center, Santa Clara,     Key Knock Enter Yield Center Inc.,
Announcement 98–54                                CA                                          Jacksonville, FL
   The following organizations have            Crafton Foundation, Pittsburgh, PA          Kidney Group, Washington, DC
failed to establish or have been unable to     Dave Tiberi Youth Center Inc.,              Kuhiston Foundation, Boulder, CO
maintain their status as public charities or      Wilmington, DE                           Lafayette Public Library Association,
as operating foundations. Accordingly,         Donna and Richard Fishel Foundation,           Lafayette, LA
grantors and contributors may not, after          Inc., Dallas, TX                         Leadership Project Inc., Athens, OH
this date, rely on previous rulings or des-    Dr. Martin Luther King Jr. Committee of     Lemonade Opera Company, Alamo, TX
ignations in the Cumulative List of Orga-         Las Vegas Nevada, Las Vegas, NV          Lite Circle Inc., Baltimore, MD
nizations (Publication 78), or on the pre-     Eastwind Community Development              Masterworks Choir A New Jersey
sumption arising from the filing of notices       Corporation, Baltimore, MD                  Nonprofit Corporation, Ocean City,
under section 508(b) of the Code. This         Endeavor Project, Houston, TX                  NJ
listing does not indicate that the organiza-   Evang Blessed Hope in Christ, Stockton,     Miller Scholarship Foundation LTD.,
tions have lost their status as organiza-         CA                                          Baltimore, MD
tions described in section 501(c)(3), eligi-   Extended Hours Program, Washington,         Mission Gospel Train, Vernon, TX
ble to receive deductible contributions.          DC                                       Nashville Dance Project, Nashville, TN
   Former Public Charities. The following      Extra Mile Ministry Inc., Tavares, FL       National Autism and Communication
organizations (which have been treated as      Foundation for Real Estate Education of        Research Institute, Eugene, OR
organizations that are not private founda-        the Ft. Myers-Association, Ft. Myers,    New American Stage Company Inc.,
tions described in section 509(a) of the          FL                                          Charleston, SC
Code) are now classified as private foun-      Good Music Society Inc., Tyler, TX          New Generation Youth Foundation, Los
dations:                                       Good Shepherd Retreat Center Inc.,             Angeles, CA
Acosta Garcia Foundation, Arlington, TX           Ashtabula, OH                            New Way A Helping Hand, Yardley, PA
Admiral Richard E. Byrd Monument               Greenville Steering Non Profit Housing      90th Anniversary Celebration of Korean
   Restoration Fund, Midlothian, VA               Corporation, Jersey City, NJ                Immigration to Hawaii, Honolulu, HI
Advocacy Group Tag, Waterford, MI              Gueydan Museum and Cultural Art             North Carolina Chapter of the Health
Aeromedical Training Institute Limited,           Society, Gueydan, LA                        Physics Society, Inc., Graham, NC
   Alexandria, VA                              Hall of Fame Youth Foundation Inc.,         Ohio Center for Native American Affairs,
Alliance for Ethics in Nursing, Tulsa,            Augusta, GA                                 Columbus, OH
   OK                                          Harbor Foundation Inc., Decatur, GA         Omega Education Foundation
Arkansas Society for Parenteral and            Hawk Voice Education Foundation Inc.,          Incorporated, Gary, IN
   Enteral Nutrition, Little Rock, AR             College Park, MD                         O’Neil Hadnott Scholarship Fund Inc.,
Art of Living Wellness Institute,              Heritage Foundation of Tennessee, Inc.,        Santa Monica, CA
   Houston, TX                                    Memphis, TN                              Order of St. Markella of Chios Inc., New
Ayehu Brehan Foundation Inc., Fort             Hispanic Century Fund, Philadelphia,           Orleans, LA
   Washington, MD                                 PA                                       Orders of Saint Francis of the Anglican
Bijela Foundation, Westfield, NJ               Homeless Organization, Akron, OH               Catholic Church, Inc., Louisville, KY
Black Achievers Voices of Cleveland,           Humboldt Historic Preservation Alliance     Pacer Connection Inc., Indianapolis, IN
   Shaker Hts., OH                                Incorporated, Humboldt, KS               Parent Organization of Villa Angela-Saint
Bradford House, Harvey, IL                     Ilyssa Schwartz Leukemia Foundation,           Joseph High School, Cleveland, OH
Brick Town Soccer Association Inc.,               Inc., Pine Brook, NJ                     Parke County Veterans Council Inc.,
   Brick, NJ                                   International Conference of Evangelicals       Rockville, IN
Bruin Athletic Club Inc., Orem, UT                Alliance, Inc., Roswell, GA              Performing Arts Foundation Inc.,
Campership Fund for Christian Scientists       International Creative Marquetry Society,      Memphis, TN
   in Georgia, Atlanta, GA                        Denver, CO                               Pittsburg Community Foundation,
Caring Corner Inc., Dallas, TX                 International Dante Seminar Inc.,              Pittsburg, KS
Center for Academic Excellence, Naples,           Princeton, NJ                            Playground, Brookings, SD
   NC                                          International Network for Education and     Princeton Tiger Lilies Ice Hockey
Center for Applied Environmental                  Technology, American Fork, UT               Association Inc., Princeton, NJ
   Technology, Ashburn, VA                     Iowa Shakespeare Project Inc.,              Recovery Connection Inc., Joliet, IL
Center for Perinatal Research and Family          Des Moines, IA                           Reno Sparks Group Theatre, Sparks, NV
   Support Corporation, Roseland, NJ           Jack Trowell Scholarship Fund Inc.,         Richmond County Coalition of Substance
Church of New Beginnings in Christ,               Washington, DC                              Abuse Project Reclaim, Inc.,
   Philadelphia, PA                            Jimenez Sanctuary Inc., Arlington, VA          Hephzibah, GA

1998–25 I.R.B.                                                   11                                               June 22, 1998
Sacramento Blues Society, Sacramento,        Sydia Group Home Inc., Altadena, CA            Tennis & College Club Inc.,
  CA                                         Szyfra Institute for Artisan Training, Inc.,     Birmingham, AL
Scrub Land Trust Inc., Melbourne, FL           Hollywood Beach, FL                          Tetelestai Ministries, Bellevue, WA
Self Help Organization Inc.-Sho,             T B E C C, Ogden, UT                           Texana Arts Council, Francitas, TX
  Baltimore, MD                              T R S A, Kaufman, TX                           Texas Association of Leather Artists,
Spirit for a New Generation Foundation,      Tahoe Truckee Housing Development                Houston, TX
  Palm Desert, CA                              Corporation, Truckee, CA                     Texas Castles, Austin, TX
Stacey Ann Boe Memorial Fund Inc.,           Take A Stand Inc., Lakewood, OH                Texas Council of Child Welfare Boards,
  Atlanta, GA                                Talent Artistic Juvenile Inc., Hialeah, FL       Bryan, TX
Student Theater Arts Group Experience        Talladega Beautification Association,          Texas Environmental Consortium,
  Inc., Glen Mills, PA                         Talladega, AL                                  San Antonio, TX
Students for Political Understanding Inc.,   Tallahatchie Housing Inc., Webb, MS            Texas Federal Child Care Nutritional
  Catonsville, MD                            Tamar Inc., Lincoln, NE                          Program, Incorporated, Houston, TX
Students for the Prevention of Aids SPA      Tampa Bay Total Quality Management             Texas Fire Chiefs Association
  Inc., Tucson, AZ                             Network Inc., Tampa, FL                        Foundation, Inc., Austin, TX
Students Taking an Active Role Inc.,         Tampa Theatre Inc., Tampa, FL                  Texas Partners Foundation, Austin, TX
  Baltimore, MD                              Tarrant County Emergency Nurses                Texas Social Services Inc., Houston, TX
Stunts for Science Students Inc.,              Association, Granbury, TX                    Texas Superstar Foundation, Houston,
  Memphis, TN                                Tarrant County Homes Inc., Fort Worth,           TX
Sue Carver Share and Care Group Inc.,          TX                                           Texas Trails Network, Dallas, TX
  Robinson, IL                               Tarzana Hospital and Community                 Texas Veteran Foundation, Austin, TX
Sufficient Grace Foundation, Tulsa, OK         Foundation, Tarzana, CA                      Texoma Charity Golf Classic Inc.,
Sugar Land Community Orchestra, Sugar        Tass Inc., Glenside, PA                          Sherman, TX
  Land, TX                                   Tate Baseball Booster Inc., Gonzalez, FL       Thad E. Saleeby Center Volunteer
Suited for Change, Washington, DC            Tautphaus Park Zoological Society Inc.,          Services, Inc., Hartsville, SC
Summer Creek Commons Gardens,                  Idaho Falls, ID                              Theatrefaire for Children, Lake Forest,
  Tigard, OR                                 Taylor Allderdice Hockey Club,                   CA
Summer Funner Theatre, Colorado                Pittsburgh, PA                               Thee Way Out, Seattle, WA
  Springs, CO                                Taylor Home of Charlotte Inc., Charlotte,      Therapeutic Alternative Care Programs,
Summertime Players Inc., Monon, IN             NC                                             Columbia, MO
Summit Christian Academy Inc., Dallas,       Team A Inc., South Bend, IN                    Think Twice Foundation, Southfield,
  TX                                         Team Alpine, Olympia, WA                         MI
Sundiata African-American Cultural           Team Indiana Inc., Indianapolis, IN            Third Planet Theatre, Dallas, TX
  Association, Seattle, WA                   Team Parents Booster Club, Kansas City,        Third World Foundation Inc., College
Sunnyside Neighborhood Center,                 MO                                             Park, MD
  Houston, TX                                Teamster Retiree Housing, Washington,          This is Colombia, Oak Brook, IL
Sunnyside South Corridor Community             DC                                           Thomas Arthur Productions Inc.,
  Coalition Inc., Houston, TX                Tech-Knowledge Bank LTD, Hunt                    Florence, SC
Sunrise Childrens Foundation, Long             Valley, MD                                   Thornapple River Watershed Group Inc.,
  Beach, CA                                  Technologies Users of Broward Tub Inc.,          Caledonia, MI
Sunshine and Rainbows Inc., Hendrum,           S. Florida, FL                               Those in Need Inc., Moundsville, WV
  MN                                         Technology Institute, Los Alamos, NM           Three Places Productions Inc., Tucson,
Sunshine Fields Day Care Inc., Cedar         Tee Foundation, Mechanicsburg, PA                AZ
  Springs, MI                                Teen Life for Christ, Dallas, TX               Thumbs Up Vidor Inc., Vidor, TX
Supa Inc., Los Angeles, CA                   Teen Life Inc., Gadsden, AL                    Thunder Road Ensemble, Chicago, IL
Support Our School Foundation, Attalla,      Teen Pregnancy Coalition of Oklahoma           Thurman Brisben Homeless Shelter Inc.,
  AL                                           County, Inc., Oklahoma City, OK                Fredericksburg, VA
Sussex Whitetail Hunter Inc., Sussex, WI     Telecommunications Information Project,        Thy Kingdom Come Ministries, Denver,
Susquehanna Service Dogs, Harrisburg,          Salt Lake City, UT                             CO
  PA                                         Telemedicine U S A Inc., Ontario Canada        Tibetan Resettlement Project-New,
Suwanne County Friends of the Library        Tell the Truth Ministries Inc., Milwaukee,       Albuquerque, NM
  Inc., Live Oak, FL                           WI                                           Tidewater Chapter of the Association of
Suwanne River Area Health Education          Tennessee Ballet Theatre, Johnson City,          Military Surgeons, Chesapeake, VA
  Center Inc., Alachua, FL                     TN                                           Tidewater Sampler Guilde Inc., Virginia
Sweet Auburn Area Improvement                Tennessee River Museum, Savannah,                Beach, VA
  Association Inc., Atlanta, GA                TN                                           Tiffin-Seneca Teen Center, Tiffin, OH
Sword of the Spirit-Minneapolis St. Paul,    Tennessee Trucking Foundation Inc.,            Tiftons Charlie Brown Playhouse, Tifton,
  Minneapolis, MN                              Nashville, TN                                  GA

June 22, 1998                                                    12                                              1998–25 I.R.B.
Total Care Living Center Incorporated,      Vietnamese Volunteer Youth Association,          termination letter with the revised classi-
  Baltimore, MD                                West Valley City, UT                          fication as to foundation status. Grantors
Training Trust Inc. c/o Nak Inc., England   Welcome House Inc., Crowley, LA                  and contributors may thereafter rely upon
Tri-County Sister Help Inc., Rock Hill,     Wild Side Inc., Wayne, PA                        such ruling or determination letter as pro-
  SC                                        Williamstown Area Development                    vided in section 1.509(a)–7 of the Income
Tropical Flora and Fauna Preservation          Corporation, Williamstown, WV                 Tax Regulations. It is not the practice of
  Society, Houston, TX                         If an organization listed above submits       the Service to announce such revised clas-
US Georgia Foundation Inc., Washington,     information that warrants the renewal of         sification of foundation status in the Inter-
  DC                                        its classification as a public charity or as a   nal Revenue Bulletin.
Vietnamese Nationalist Organization of      private operating foundation, the Internal
  Dallas Vicinities, Garland, TX            Revenue Service will issue a ruling or de-

1998–25 I.R.B.                                                   13                                                   June 22, 1998
Announcement of the Expedited Suspension of Attorneys, Certified Public
Accountants, Enrolled Agents, and Enrolled Actuaries From Practice
Before the Internal Revenue Service
   Under title 31 of the Code of Federal       prohibited in any Internal Revenue Service      rolled agent, or enrolled actuary, and date
Regulations, section 10.76, the Director       matter from directly or indirectly employ-      or period of suspension. This announce-
of Practice is authorized to immediately       ing, accepting assistance from, being em-       ment will appear in the weekly Bulletin at
suspend from practice before the Internal      ployed by, or sharing fees with, any practi-    the earliest practicable date after such ac-
Revenue Service any practitioner who,          tioner disbarred or suspended from practice     tion and will continue to appear in the
within five years from the date the expe-      before the Internal Revenue Service.            weekly Bulletins for five successive weeks
dited proceeding is instituted, (1) has had       To enable attorneys, certified public ac-    or for as many weeks as is practicable for
a license to practice as an attorney, certi-   countants, enrolled agents, and enrolled ac-    each attorney, certified public accountant,
fied public accountant, or actuary sus-        tuaries to identify practitioners under expe-   enrolled agent, or enrolled actuary so sus-
pended or revoked for cause; or (2) has        dited suspension from practice before the       pended and will be consolidated and pub-
been convicted of any crime under title 26     Internal Revenue Service, the Director of       lished in the Cumulative Bulletin.
of the United States Code or, of a felony      Practice will announce in the Internal Rev-        The following individual has been
under title 18 of the United States Code       enue Bulletin the names and addresses of        placed under suspension from practice be-
involving dishonesty or breach of trust.       practitioners who have been suspended           fore the Internal Revenue Service by virtue
   Attorneys, certified public accountants,    from such practice, their designation as at-    of the expedited proceeding provisions of
enrolled agents, and enrolled actuaries are    torney, certified public accountant, en-        the applicable regulations:

Name                              Address                         Designation             Date of Suspension

McDonald, Milton                  Stone Mountain, GA              Attorney                Indefinite from February 24, 1998
Parsons, Gary D.                  Chattanooga, TN                 CPA                     Indefinite from February 24, 1998
Buchanan, Steven                  Phoenix, AZ                     Attorney                Indefinite from February 24, 1998
Caplan, Alan                      San Francisco, CA               Attorney                Indefinite from February 24, 1998
Delany, R. Emmet                  Ridgefield, CT                  Attorney                Indefinite from February 24, 1998
Hirsch, Sheldon                   Brooklyn, NY                    CPA                     Indefinite from February 24, 1998
Newman, Peter R.                  Syossett, NY                    Attorney                Indefinite from February 24, 1998
Land, Gary                        Fayetteville, AR                Enrolled Agent          Indefinite from February 24, 1998
Hunt, William D.                  Tulsa, OK                       Attorney                Indefinite from February 24, 1998
Hamilton, Robert                  Corpus Christie, TX             Attorney                Indefinite from February 24, 1998
Rabinowitz, Emile                 Minnetonka, MN                  Enrolled Agent          Indefinite from February 24, 1998
McCaffrey, Michael                Wheaton, IL                     CPA                     Indefinite from February 24, 1998
Eisenstein, Joel                  St. Charles, MO                 Attorney                Indefinite from February 24, 1998
Cannavo Jr., Joseph S.            St. Louis, MO                   Attorney                Indefinite from February 24, 1998
Tilker, Robert M.                 Fairfax, VA                     CPA                     Indefinite from February 24, 1998
Toms, James H.                    Hendersonville, NC              Attorney                Indefinite from February 24, 1998
Everett, Kenneth                  New York, NY                    Attorney                Indefinite from February 24, 1998
Frederick, Charles                Elk Grove                       Enrolled Agent          Indefinite from March 13, 1998
Artho, David                      Lubbock, TX                     CPA                     Indefinite from March 18, 1998
Seale, Forrest I.                 San Antonio, TX                 CPA                     Indefinite from March 18, 1998
Yancey, Quinton E.                Stephens City, VA               CPA                     Indefinite from March 18, 1998
Hunnicut, Benjamin                Reseda, CA                      CPA                     Indefinite from March 18, 1998
Finkel, Merle                     Beverly Hills, CA               CPA                     Indefinite from March 18, 1998
Mullay, Carl P.                   Swoyersville, PA                CPA                     Indefinite from March 18, 1998

June 22, 1998                                                      14                                                1998–25 I.R.B.
Name                    Address                Designation   Date of Suspension

Cunning, Dennis A.      Molalla, OR            CPA           Indefinite from March 18, 1998
Adamson, Steven A.      Nampa, ID              Attorney      Indefinite from April 14, 1998
Bowman, David W.        Colorado Springs, CO   Attorney      Indefinite from April 21, 1998
Beezley, Jack L.        Dallas, TX             Attorney      Indefinite from April 21, 1998
Cunningham, Andrew      Hatfield, PA           CPA           Indefinite from April 28, 1998
Palmquist, Craig S.     Seattle, WA            Attorney      Indefinite from April 21, 1998
Ross, Mark J.           Columbus, OH           Attorney      Indefinite from April 21, 1998
Madoch, Lawrence        Elgin, IL              CPA           Indefinite from April 21, 1998
Taylor, George M.       Springfield, IL        Attorney      Indefinite from April 21, 1998
Casey, Kenneth J.       Corte Madera, CA       CPA           Indefinite from April 21, 1998
Akolt III, John P.      Denver, CO             Attorney      Indefinite from April 21, 1998
Dowdy, Frank            Huntsville, AL         CPA           Indefinite from April 28, 1998
Eckert, Bruce G.        Cleveland, OH          CPA           May 2, 1998 to May 1, 1999
Rozanski, Lawrence J.   Pittsburgh, PA         CPA           June 1, 1998 to May 30, 2000
Mangum, Carl E.         Morris Plains, NJ      CPA           July 1, 1998 to December 31, 1999
Reeser, Richard M.      Thornton, CO           CPA           July 1, 1998 to September 30, 1999
Bailey, Thomas O.       Dallas, TX             CPA           July 1, 1998 to June 30, 2001
Johnson, Kenneth E.     Forest Lake, MN        CPA           July 1, 1998 to November 30, 1999
Deren, Joseph           Lackawanna, NY         Attorney      July 1, 1998 to June 30, 2001

1998–25 I.R.B.                                  15                                      June 22, 1998
Definition of Terms
Revenue rulings and revenue procedures                plies to both A and B, the prior ruling is       new ruling does more than restate the
(hereinafter referred to as “rulings”) that           modified because it corrects a published         substance of a prior ruling, a combination
have an effect on previous rulings use the            position. (Compare with amplified and            of terms is used. For example, modified
following defined terms to describe the               clarified, above).                               and superseded describes a situation
effect:                                                  Obsoleted describes a previously pub-         where the substance of a previously pub-
   Amplified describes a situation where              lished ruling that is not considered deter-      lished ruling is being changed in part and
no change is being made in a prior pub-               minative with respect to future transac-         is continued without change in part and it
lished position, but the prior position is            tions. This term is most commonly used           is desired to restate the valid portion of
being extended to apply to a variation of             in a ruling that lists previously published      the previously published ruling in a new
the fact situation set forth therein. Thus,           rulings that are obsoleted because of            ruling that is self contained. In this case
if an earlier ruling held that a principle            changes in law or regulations. A ruling          the previously published ruling is first
applied to A, and the new ruling holds                may also be obsoleted because the sub-           modified and then, as modified, is super-
that the same principle also applies to B,            stance has been included in regulations          seded.
the earlier ruling is amplified. (Compare             subsequently adopted.                               Supplemented is used in situations in
with modified, below).                                   Revoked describes situations where the        which a list, such as a list of the names of
   Clarified is used in those instances               position in the previously published rul-        countries, is published in a ruling and
where the language in a prior ruling is               ing is not correct and the correct position      that list is expanded by adding further
being made clear because the language                 is being stated in the new ruling.               names in subsequent rulings. After the
has caused, or may cause, some confu-                    Superseded describes a situation where        original ruling has been supplemented
sion. It is not used where a position in a            the new ruling does nothing more than            several times, a new ruling may be pub-
prior ruling is being changed.                        restate the substance and situation of a         lished that includes the list in the original
   Distinguished describes a situation                previously published ruling (or rulings).        ruling and the additions, and supersedes
where a ruling mentions a previously                  Thus, the term is used to republish under        all prior rulings in the series.
published ruling and points out an essen-             the 1986 Code and regulations the same              Suspended is used in rare situations to
tial difference between them.                         position published under the 1939 Code           show that the previous published rulings
   Modified is used where the substance               and regulations. The term is also used           will not be applied pending some future
of a previously published position is                 when it is desired to republish in a single      action such as the issuance of new or
being changed. Thus, if a prior ruling                ruling a series of situations, names, etc.,      amended regulations, the outcome of
held that a principle applied to A but not            that were previously published over a pe-        cases in litigation, or the outcome of a
to B, and the new ruling holds that it ap-            riod of time in separate rulings. If the         Service study.

Abbreviations                                         E.O.—Executive Order.
                                                                                                       PHC—Personal Holding Company.
                                                                                                       PO—Possession of the U.S.
The following abbreviations in current use and for-   ERISA—Employee Retirement Income Security Act.   PR—Partner.
merly used will appear in material published in the
Bulletin.                                             EX—Executor.                                     PRS—Partnership.
                                                      F—Fiduciary.                                     PTE—Prohibited Transaction Exemption.
                                                      FC—Foreign Country.                              Pub. L.—Public Law.
                                                      FICA—Federal Insurance Contribution Act.         REIT—Real Estate Investment Trust.
                                                      FISC—Foreign International Sales Company.        Rev. Proc.—Revenue Procedure.
                                                      FPH—Foreign Personal Holding Company.            Rev. Rul.—Revenue Ruling.
                                                      F.R.—Federal Register.                           S—Subsidiary.
B.T.A.—Board of Tax Appeals.
                                                      FUTA—Federal Unemployment Tax Act.               S.P.R.—Statements of Procedral Rules.
                                                      FX—Foreign Corporation.                          Stat.—Statutes at Large.
C.B.—Cumulative Bulletin.
                                                      G.C.M.—Chief Counsel’s Memorandum.               T—Target Corporation.
CFR—Code of Federal Regulations.
                                                      GE—Grantee.                                      T.C.—Tax Court.
                                                      GP—General Partner.                              T.D.—Treasury Decision.
                                                      GR—Grantor.                                      TFE—Transferee.
Ct.D.—Court Decision.
                                                      IC—Insurance Company.                            TFR—Transferor.
D—Decedent.                                           I.R.B.—Internal Revenue Bulletin.                T.I.R.—Technical Information Release.
DC—Dummy Corporation.                                 LE—Lessee.                                       TP—Taxpayer.
DE—Donee.                                             LP—Limited Partner.                              TR—Trust.
Del. Order—Delegation Order.                          LR—Lessor.                                       TT—Trustee.
DISC—Domestic International Sales Corporation.        M—Minor.                                         U.S.C.—United States Code.
DR—Donor.                                             Nonacq.—Nonacquiescence.                         X—Corporation.
E—Estate.                                             O—Organization.                                  Y—Corporation.
EE—Employee.                                          P—Parent Corporation.                            Z—Corporation.

June 22, 1998                                                              16                                                  1998–25 I.R.B.
Numerical Finding List1            Notices—Continued                  Revenue Procedures—Continued

Bulletins 1998–1 through 1998–24   98–15, 1998–9 I.R.B. 8             98–18, 1998–6 I.R.B. 20
                                   98–16, 1998–15 I.R.B. 12           98–19, 1998–7 I.R.B. 30
Announcements:                     98–17, 1998–11 I.R.B. 6            98–20, 1998–7 I.R.B. 32
                                   98–18, 1998–12 I.R.B. 11           98–21, 1998–8 I.R.B. 27
98–1, 1998–2 I.R.B. 38             98–19, 1998–13 I.R.B. 24           98–22, 1998–12 I.R.B. 11
98–2, 1998–2 I.R.B. 38             98–20, 1998–13 I.R.B. 25           98–23, 1998–10 I.R.B. 30
98–3, 1998–2 I.R.B. 38
                                   98–21, 1998–15 I.R.B. 14           98–24, 1998–10 I.R.B. 31
98–4, 1998–4 I.R.B. 31
                                   98–22, 1998–17 I.R.B. 5            98–25, 1998–11 I.R.B. 7
98–5, 1998–5 I.R.B. 25
                                   98–23, 1998–18 I.R.B. 9            98–26, 1998–13 I.R.B. 26
98–6, 1998–5 I.R.B. 25
                                   98–24, 1998–17 I.R.B. 5            98–27, 1998–15 I.R.B. 15
98–7, 1998–5 I.R.B. 26
                                   98–25, 1998–18 I.R.B. 11           98–28, 1998–15 I.R.B. 14
98–8, 1998–6 I.R.B. 96
                                   98–26, 1998–18 I.R.B. 14           98–29, 1998–15 I.R.B. 22
98–9, 1998–7 I.R.B. 35
                                   98–27, 1998–18 I.R.B. 14           98–30, 1998–17 I.R.B. 6
98–10, 1998–7 I.R.B. 35
                                   98–28, 1998–19 I.R.B. 7            98–31, 1998–23 I.R.B. 9
98–11, 1998–8 I.R.B. 42
                                   98–29, 1998–22 I.R.B. 8            98–32, 1998–17 I.R.B. 11
98–12, 1998–8 I.R.B. 43
                                   98–30, 1998–22 I.R.B. 9            98–33, 1998–19 I.R.B. 7
98–13, 1998–8 I.R.B. 43
                                   98–31, 1998–22 I.R.B. 10           98–34, 1998–18 I.R.B. 15
98–14, 1998–8 I.R.B. 44
                                   98–32, 1998–22 I.R.B. 23           98–35, 1998–21 I.R.B. 6
98–15, 1998–10 I.R.B. 36
                                                                      98–36, 1998–23 I.R.B. 10
98–16, 1998–9 I.R.B. 17
98–17, 1998–9 I.R.B. 16            Proposed Regulations:
98–18, 1998–10 I.R.B. 44                                              Revenue Rulings:
                                   PS–158–86, 1998–11 I.R.B. 13
98–19, 1998–10 I.R.B. 44           REG–100841–97, 1998–8 I.R.B. 30    98–1, 1998–2 I.R.B. 5
98–20, 1998–11 I.R.B. 25           REG–102144–98, 1998–15 I.R.B. 25   98–2, 1998–2 I.R.B. 15
98–21, 1998–11 I.R.B. 26           REG–102894–97, 1998–3 I.R.B. 59    98–3, 1998–2 I.R.B. 4
98–22, 1998–12 I.R.B. 33           REG–104062–97, 1998–10 I.R.B. 34   98–4, 1998–2 I.R.B. 18
98–23, 1998–12 I.R.B. 34           REG–104537–97, 1998–16 I.R.B. 21   98–5, 1998–2 I.R.B. 20
98–24, 1998–12 I.R.B. 35           REG–104691–97, 1998–11 I.R.B. 13   98–6, 1998–4 I.R.B. 4
98–25, 1998–13 I.R.B. 43           REG–105163–97, 1998–8 I.R.B. 31    98–7, 1998–6 I.R.B. 6
98–26, 1998–14 I.R.B. 28           REG–109333–97, 1998–9 I.R.B. 9     98–8, 1998–7 I.R.B. 24
98–27, 1998–15 I.R.B. 30           REG–109704–97, 1998–3 I.R.B. 60    98–9, 1998–6 I.R.B. 5
98–28, 1998–15 I.R.B. 30           REG–110965–97, 1998–13 I.R.B. 42   98–10, 1998–10 I.R.B. 11
98–29, 1998–16 I.R.B. 48           REG–115795–97, 1998–8 I.R.B. 33    98–11, 1998–10 I.R.B. 13
98–30, 1998–17 I.R.B. 38           REG–119449–97, 1998–10 I.R.B. 35   98–12, 1998–10 I.R.B. 5
98–32, 1998–17 I.R.B. 39           REG–120200–97, 1998–12 I.R.B. 32   98–13, 1998–11 I.R.B. 4
98–33, 1998–17 I.R.B. 39           REG–120882–97, 1998–14 I.R.B. 25   98–14, 1998–11 I.R.B. 4
98–34, 1998–17 I.R.B. 39           REG–121268–97, 1998–20 I.R.B. 12   98–15, 1998–12 I.R.B. 6
98–35, 1998–17 I.R.B. 40           REG–121755–97, 1998–9 I.R.B. 13    98–16, 1998–13 I.R.B. 18
98–36, 1998–18 I.R.B. 18           REG–208299–90, 1998–16 I.R.B. 26   98–17, 1998–13 I.R.B. 21
98–37, 1998–19 I.R.B. 24           REG–209276–87, 1998–11 I.R.B. 18   98–18, 1998–14 I.R.B. 22
98–38, 1998–19 I.R.B. 26           REG–209322–82, 1998–15 I.R.B. 26   98–19, 1998–15 I.R.B. 5
98–39, 1998–20 I.R.B. 24           REG–209373–81, 1998–14 I.R.B. 26   98–20, 1998–15 I.R.B. 8
98–40, 1998–20 I.R.B. 24           REG–209463–82, 1998–4 I.R.B. 27    98–21, 1998–18 I.R.B. 7
98–41, 1998–20 I.R.B. 25           REG–209476–82, 1998–8 I.R.B. 36    98–22, 1998–19 I.R.B. 5
98–42, 1998–21 I.R.B. 26           REG–209484–87, 1998–8 I.R.B. 40    98–23, 1998–18 I.R.B. 5
98–43, 1998–21 I.R.B. 26           REG–209485–86, 1998–11 I.R.B. 21   98–24, 1998–19 I.R.B. 6
98–44, 1998–22 I.R.B. 24           REG–209682–94, 1998–17 I.R.B. 20   98–25, 1998–19 I.R.B. 4
98–45, 1998–23 I.R.B. 18           REG–209807–95, 1998–8 I.R.B. 40    98–26, 1998–21 I.R.B. 4
98–47, 1998–23 I.R.B. 5            REG–243025–96, 1998–18 I.R.B. 18   98–27, 1998–22 I.R.B. 4
98–48, 1998–24 I.R.B. 6            REG–251502–96, 1998–9 I.R.B. 14    98–28, 1998–22 I.R.B. 5
98–49, 1998–23 I.R.B. 19           REG–251698–96, 1998–20 I.R.B. 14   98–29, 1998–24 I.R.B. 4
98–50, 1998–23 I.R.B. 20
98–51, 1998–24 I.R.B. 7                                               Treasury Decisions:
                                   Revenue Procedures:
98–52, 1998–24 I.R.B. 37                                              8740, 1998–3 I.R.B. 4
98–53, 1998–24 I.R.B. 37           98–1, 1998–1 I.R.B. 7              8741, 1998–3 I.R.B. 6
                                   98–2, 1998–1 I.R.B. 74             8742, 1998–5 I.R.B. 4
Notices:                           98–3, 1998–1 I.R.B. 100            8743, 1998–7 I.R.B. 26
98–1, 1998–3 I.R.B. 42             98–4, 1998–1 I.R.B. 113            8744, 1998–7 I.R.B. 20
98–2, 1998–2 I.R.B. 22             98–5, 1998–1 I.R.B. 155            8745, 1998–7 I.R.B. 15
98–3, 1998–3 I.R.B. 48             98–6, 1998–1 I.R.B. 183            8746, 1998–7 I.R.B. 4
98–4, 1998–2 I.R.B. 25             98–7, 1998–1 I.R.B. 222            8747, 1998–7 I.R.B. 18
98–5, 1998–3 I.B.R. 49             98–8, 1998–1 I.R.B. 225            8748, 1998–8 I.R.B. 24
98–6, 1998–3 I.R.B. 52             98–9, 1998–3 I.R.B. 56             8749, 1998–7 I.R.B. 16
98–7, 1998–3 I.R.B. 54             98–10, 1998–2 I.R.B. 35            8750, 1998–8 I.R.B. 4
98–8, 1998–4 I.R.B. 6              98–11, 1998–4 I.R.B. 9             8751, 1998–10 I.R.B. 23
98–9, 1998–4 I.R.B. 8              98–12, 1998–4 I.R.B. 18            8752, 1998–9 I.R.B. 4
98–10, 1998–6 I.R.B. 9             98–13, 1998–4 I.R.B. 21            8753, 1998–9 I.R.B. 6
98–11, 1998–6 I.R.B. 18            98–14, 1998–4 I.R.B. 22            8754, 1998–10 I.R.B. 15
98–12, 1998–5 I.R.B. 12            98–15, 1998–4 I.R.B. 25            8755, 1998–10 I.R.B. 21
98–13, 1998–6 I.R.B. 19            98–16, 1998–5 I.R.B. 19            8756, 1998–12 I.R.B. 4
98–14, 1998–8 I.R.B. 27            98–17, 1998–5 I.R.B. 21            8757, 1998–13 I.R.B. 4

1   See footnote at end of list.

1998–25 I.R.B.                                             17                                    June 22, 1998
Numerical Finding List—Continued
Bulletins 1998–1 through 1998–24
Treasury Decisions—Continued
8758, 1998–13 I.R.B. 15
8759, 1998–13 I.R.B. 19
8760, 1998–14 I.R.B. 4
8761, 1998–14 I.R.B. 13
8762, 1998–14 I.R.B. 15
8763, 1998–15 I.R.B. 5
8764, 1998–15 I.R.B. 9
8765, 1998–16 I.R.B. 11
8766, 1998–16 I.R.B. 17
8767, 1998–16 I.R.B. 4
8768, 1998–20 I.R.B. 4

1 A cumulative list of all revenue rulings, revenue
procedures, Treasury decisions, etc., published in
Internal Revenue Bulletins 1997–27 through
1997–52 will be found in Internal Revenue Bulletin
1998–1, dated January 5, 1998.

June 22, 1998                                         18   1998–25 I.R.B.
Finding List of Current Actions                        Revenue Procedures—Continued
on Previously Published Items1                         97–53
                                                       Superseded by
Bulletins 1998–1 through 1998–24                       98–3, 1998–1 I.R.B. 100

Revenue Procedures:                                    Revenue Rulings:
91–59                                                  68–352
Updated and superseded by                              Obsoleted by
98–25, 1998–11 I.R.B. 7                                98–24, 1998–19 I.R.B. 6
94–16                                                  70–225
Modified and superseded by                             Modified by
98–22, 1998–12 I.R.B. 11                               98–27, 1998–22 I.R.B. 4
93–62                                                  73–198
Modified and superseded by                             Modified by
98–22, 1998–12 I.R.B. 11                               98–24, 1998–19 I.R.B. 6
95–35                                                  75–17
95–35A                                                 Supplemented and superseded by
Superseded by                                          98–5, 1998–2 I.R.B. 20
98–19, 1998–7 I.R.B. 30                                75–406
96–29                                                  Obsoleted by
Modified and superseded by                             98–27, 1998–22 I.R.B. 4
98–22, 1998–12 I.R.B. 11                               92–19
97–1                                                   Supplemented in part by
Superseded by                                          98–2, 1998–2 I.R.B. 15
98–1, 1998–1 I.R.B. 7                                  96–30
97–2                                                   Obsoleted by
Superseded by                                          98–27, 1998–22 I.R.B. 4
98–2, 1998–1 I.R.B. 74
Superseded by
98–3, 1998–1 I.R.B. 100
Superseded by
98–4, 1998–1 I.R.B. 113
Superseded by
98–5, 1998–1 I.R.B. 155
Superseded by
98–6, 1998–1 I.R.B. 183
Superseded by
98–7, 1998–1 I.R.B. 222
Superseded by
98–8, 1998–1 I.R.B. 225
Superseded by
98–2, 1998–1 I.R.B. 74
Superseded by
98–33, 1998–19 I.R.B. 7
Obsoleted by
98–28, 1998–15 I.R.B. 14
Superseded by
98–36, 1998–23 I.R.B. 10
Superseded by
98–35, 1998–21 I.R.B. 6

1 A cumulative finding list for previously published
items mentioned in Internal Revenue Bulletins
1997–27 through 1997–52 will be found in Internal
Revenue Bulletin 1998–1, dated January 5, 1998.

1998–25 I.R.B.                                                               19         June 22, 1998

June 22, 1998    20     1998–25 I.R.B.

1998–25 I.R.B.    21     June 22, 1998

June 22, 1998    22     1998–25 I.R.B.
                                  INTERNAL REVENUE BULLETIN
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