Internal Revenue Bulletins  

November 15, 1999

Internal Revenue Bulletin No. 1999-46

Links to Official IRS Bulletin Documents listed below are in the Adobe Acrobat PDF Format, and require the appropriate Acrobat Reader to view and/or print.

SPECIAL ANNOUNCEMENT

Announcement 99-108(PDF, 23K)
A public hearing is scheduled for November 30, 1999, on proposed regulations (REG�101519�97, 1999�29 I.R.B. 114) relating to the withdrawal of notices of federal tax liens in certain circumstances. The Service must receive outlines of the topics to be discussed at the hearing by November 16, 1999.

Announcement 99-110(PDF, 19K)
The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children (NCMEC). Photographs of missing children selected by NCMEC will appear on otherwise blank pages of IRS tax form instructions and taxpayer information publications, including the Internal Revenue Bulletin.

INCOME TAX

Rev. Proc. 99-40(PDF, 23K)
Regulated investment companies. This procedure sets forth conditions under which distributions made to share-holders of a regulated investment company may vary and, nevertheless, be deductible under section 562(c) of the Code. It provides guidance on fee waivers and reimbursements and on performance fee provisions of advisory fee contracts. Rev. Proc. 96�47 amplified and superseded.

EXEMPT ORGANIZATIONS

Announcement 99-109(PDF, 24K)
A list is given of organizations now classified as private foundations.

ADMINISTRATIVE

Notice 99-53(PDF, 24K)
Information reporting; payments of gross proceeds to attorneys. The Service intends to delay for one year the effective date of regulations proposed under section 6045 of the Code relating to the reporting of payments of gross proceeds to attorneys.

Rev. Proc. 99-41(PDF, 34K)
Adequate disclosure; substantial understatement. Guidance is given concerning when information shown on a return in accordance with the applicable forms and instructions will provide adequate disclosure to reduce an under-statement of income tax under section 6662(d) of the Code and avoid the preparer penalty under section 6694(a) of the Code.

Rev. Proc. 99-42(PDF, 37K)
Cost-of-living adjustments for 2000. The Service provides cost-of-living adjustments for the tax rate tables for individuals, estates, and trusts, the standard deduction amounts, the personal exemption, and several other items that use the adjustment method provided for the tax rate tables. The Service also provides the adjustment for eligible long-term care premiums and another item that uses the adjustment method provided for eligible long-term care premiums.

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