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

Rev. Rul. 98-6(PDF, 21K)
LIFO; price indexes; department stores. The November 1997 Bureau of Labor Statistics price indexes are accepted for use by department stores employing the retail inventory and last in, first-out inventory methods for valuing inventories for tax years ended on, or with reference to, November 30, 1997.

Notice 98-9(PDF, 17K)
Weighted average interest rate update. Guidelines are set forth for determining for January 1998, the weighted average interest rate and the resulting permissible range of interest rates used to calculate current liability for purposes of the full funding limitation of section 412(c)(7) of the Code as amended by the Omnibus Budget Reconciliation Act of 1987 and by the Uruguay Round Agreements Act (GATT).

REG-209463-82(PDF, 31K)
This proposed regulation contains amendments to EE-113-82, 1987-2 C.B. 881, under section 401 (a)(9) of the Code that makes changes to the rules that apply if a trust is named as a beneficiary of an employee's retirement benefit under a qualified plan.

Rev. Proc. 98-14(PDF, 29K)
Determination letters; Small Business Job Protection Act. This procedure opens the determination letter program for qualified plans that seek to comply with changes in the qualification requirements made by the Uruguay Round Agreements Act and the Taxpayer Relief Act of 1997, as well as those changes in the qualification requirements made by the Small Business Job Protection Act of 1996 that are effective before the first day of the first plan year beginning on or after January 1, 1999.

Announcement 98-4(PDF, 16K)
A list is given of organizations now classified as private foundations.

Notice 98-8(PDF, 24K)
Eligible deferred compensation plans under section 457. This notice provides guidance relating to the new statutory requirements applicable to eligible deferred compensation plans of state and local government and tax-exempt employers under section 457 of the Code after the Small Business Job Protection Act of 1996 and the Taxpayer Relief Act of 1997.

Rev. Proc. 98-11(PDF, 35K)
Insurance companies; loss reserves; discounting unpaid losses. The loss payment patterns and discount factors are set forth for the 1997 accident year, which is a determination year. These factors will be used for computing discounted unpaid losses under section 846 of the Code.

Rev. Proc. 98-12(PDF, 21K)
Insurance companies; discounting estimated salvage recoverable. The salvage discount factors are set forth for the 1997 accident year. These factors will be used for computing estimated salvage recoverable under section 832 of the Code.

Rev. Proc. 98-13(PDF, 19K)
Section 646 election. This procedure provides the procedures and requirements for making the section 646 election to treat certain revocable trusts as part of an estate.

Rev. Proc. 98-15(PDF, 18K)
Underpayment interest; interest expense deduction; estates. Procedures are provided for estates of decedents dying before January 1, 1998, to elect, under section 503(d)(2) of the Taxpayer Relief Act of 1997, to reduce the rate of interest on estate taxes deferred under section 6166 of the Code and forgo the deduction for interest paid on the deferred estate taxes under sections 2053 and 163(h) of the Code.