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 2002-55(PDF, 15K)
Under Rev. Proc. 2002-41, certain employers in the pipeline construction industry may use an optional expense substantiation rule for certain employee business expenses. The Rev. Proc. is effective for reimbursements paid on or after January 1, 2003. In response to employer comments, this notice provides that these employers may elect to implement the provisions of Rev. Proc. 2002-41 as of the date this notice is published in the Internal Revenue Bulletin.

Notice 2002-59(PDF, 20K)
Split-dollar life insurance arrangements. This notice explains the standards for valuing current life insurance protection under a split-dollar life insurance arrangement. This document also informs taxpayers that certain techniques being used to understate the value of certain policy benefits distort the income, employment, or gift tax consequences of the arrangement and does not conform to, and is not permitted by, any published guidance.

REG-136311-01(PDF, 209K)
Proposed regulations explain when a foreign corporation engaged in the international operation of ships or aircraft may exclude its U.S. source income from gross income for U.S. federal income tax purposes. The rule applies if such a corporation is organized in a foreign country that grants an equivalent exemption to corporations organized in the United States, and the foreign corporation satisfies certain ownership requirements. A public hearing is scheduled for November 12, 2002. REG-208280-86 withdrawn.

GIFT TAX

Notice 2002-59(PDF, 20K)
Split-dollar life insurance arrangements. This notice explains the standards for valuing current life insurance protection under a split-dollar life insurance arrangement. This document also informs taxpayers that certain techniques being used to understate the value of certain policy benefits distort the income, employment, or gift tax consequences of the arrangement and does not conform to, and is not permitted by, any published guidance.

ESTATE TAX

Notice 2002-59(PDF, 20K)
Split-dollar life insurance arrangements. This notice explains the standards for valuing current life insurance protection under a split-dollar life insurance arrangement. This document also informs taxpayers that certain techniques being used to understate the value of certain policy benefits distort the income, employment, or gift tax consequences of the arrangement and does not conform to, and is not permitted by, any published guidance.

Announcement 2002-80(PDF, 22K)
A list is provided of organizations now classified as private foundations.

Notice 2002-55(PDF, 15K)
Under Rev. Proc. 2002-41, certain employers in the pipeline construction industry may use an optional expense substantiation rule for certain employee business expenses. The Rev. Proc. is effective for reimbursements paid on or after January 1, 2003. In response to employer comments, this notice provides that these employers may elect to implement the provisions of Rev. Proc. 2002-41 as of the date this notice is published in the Internal Revenue Bulletin.

Announcement 2002-78(PDF, 12K)
This document explains what to do with the first copy you received of the Internal Revenue Bulletin (I.R.B. 2002-33), dated August 19, 2002.

Announcement 2002-79(PDF, 12K)
This document contains corrections to proposed regulations (REG-103823-99, 2002-27 I.R.B. 44) under section 167 of the Code that relate to deductions available to taxpayers using the income forecast method of depreciation.

Notice 2002-60(PDF, 20K)
Exclusion of gain from sale or exchange of principal residence for taxpayers affected by the September 11, 2001, terrorist attacks. This notice informs taxpayers affected by the September 11, 2001, terrorist attacks of the circumstances under which they may qualify for the reduced maximum exclusion of gain on the sale or exchange of a principal residence provided by section 121(c) of the Code.

Rev. Proc. 2002-56(PDF, 17K)
Low-income housing tax credit. This procedure publishes the amounts of unused housing credit carryovers allocated to qualified states under section 42(h)(3)(D) of the Code for calendar year 2002.