Internal Revenue Bulletins  

October 01, 2001

Internal Revenue Bulletin No. 2001-40

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.

INCOME TAX

Notice 2001-60(PDF, 17K)
This notice provides information about a closing agreement program for tax-exempt bonds (TEB VCAP). TEB VCAP provides a mechanism whereby issuers of tax-exempt bonds who come forward on a voluntary basis can resolve violations of the Code by entering into closing agreements with the Service. Comments are requested on TEB VCAP and on how the Service can expand its efforts to encourage compliance with the Code.

EXEMPT ORGANIZATIONS

Announcement 2001-97(PDF, 14K)
A list is provided of organizations now classified as private foundations.

ADMINISTRATIVE

Notice 2001-60(PDF, 17K)
This notice provides information about a closing agreement program for tax-exempt bonds (TEB VCAP). TEB VCAP provides a mechanism whereby issuers of tax-exempt bonds who come forward on a voluntary basis can resolve violations of the Code by entering into closing agreements with the Service. Comments are requested on TEB VCAP and on how the Service can expand its efforts to encourage compliance with the Code.

Notice 2001-61(PDF, 22K)
This notice provides tax relief under sections 6081, 6161, and 7508A of the Code for taxpayers affected by the September 11, 2001, terrorist attack, which included the destruction of the two World Trade Center towers and other buildings in the World Trade Center complex, damage to the Pentagon, and the airplane crash in Pennsylvania on Tuesday, September 11, 2001.

Notice 2001-62(PDF, 16K)
Timely filing or payment; private delivery services. An updated list of designated private delivery services (PDSs) is provided for purposes of section 7502 of the Code. Two new delivery services are added to the list. This notice also provides a new address for a PDS to use to submit its application for designation. The new address will also be used to request administrative review of a letter of denial of designation, appeal a letter confirming the denial of designation, provide written notification of any change in application information, and appeal a proposed revocation letter. Rev. Proc. 97-19 modified. Notice 99-41 modified and superseded.

Notice 2001-63(PDF, 8K)
This notice provides additional tax relief under sections 6081, 6161, and 7508A of the Code for taxpayers, regardless of their location, on account of events related to the September 11, 2001, terrorist attack.

Rev. Proc. 2001-48(PDF, 13K)
This procedure provides the domestic asset/liability percentages and domestic investment yield percentages needed by foreign companies conducting insurance business in the United States to compute their minimum effectively connected net investment income.

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