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. 2002-85(PDF, 61K)
Section 368(a)(1)(D) reorganization. Guidance is provided as to whether a transaction otherwise qualifying under section 368(a)(1)(D) of the Code will be prevented from so qualifying when the acquiring corporation transfers the target corporation's assets to a subsidiary controlled by the acquiring corporation. Rev. Rul. 74-545 obsoleted.

Rev. Rul. 2002-87(PDF, 51K)
LIFO;price indexes;department stores. The October 2002 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,October 31,2002.

Rev. Rul. 2002-89(PDF, 49K)
Captive insurance. This ruling considers circumstances under which arrangements between a domestic parent corporation and its wholly owned insurance subsidiary constitute insurance for federal income tax purposes. Rev.Rul.2001-31 amplified.

Rev. Rul. 2002-90(PDF, 45K)
Captive insurance. This ruling considers circumstances under which payments for professional liability coverage by a number of operating subsidiaries to an insurance subsidiary of a common parent constitute insurance for federal income tax purposes.Rev.Rul.2001-31 amplified.

Rev. Rul. 2002-91(PDF, 48K)
Captive insurance; group captive. This ruling sets forth circumstances under which amounts paid to a group captive of unrelated insureds are deductible as insurance premiums and in which the group captive qualifies as an insurance company.

Rev. Rul. 2002-88(PDF, 42K)
Duration of COBRA continuation coverage and divorce. This ruling provides guidance on when COBRA continuation coverage must commence if, in anticipation of divorce, an employee drops the coverage of a spouse under a group health plan of the employee 's employer.

ESTATE TAX

Rev. Rul. 2002-86(PDF, 57K)
Combat zone-related deaths and deaths of victims of certain terrorist attacks. This ruling provides sample estate tax calculations, under section 2201 of the Code, for the estates of victims of specified terrorist attacks and members of the armed forces who died as a result of active service in a combat zone. Rev. Rul. 78 -361 modified and superseded.

EXCISE TAX

Rev. Rul. 2002-88(PDF, 42K)
Duration of COBRA continuation coverage and divorce. This ruling provides guidance on when COBRA continuation coverage must commence if, in anticipation of divorce, an employee drops the coverage of a spouse under a group health plan of the employee 's employer.

Notice 2002-77(PDF, 41K)
The Service and the Department of Treasury announce their intention to amend section 1.367(a)-3(d) of the regulations to provide specifically that a U.S. person's exchange of stock or securities of a corporation (the "acquired corporation") for stock or securities of a foreign acquiring corporation in a reorganization under section 368(a)(1)(D) of the Code in which the foreign acquiring corporation transfers part or all of the acquired corporation's assets to a subsidiary, controlled by the acquiring corporation pursuant to the plan of reorganization, constitutes an indirect transfer of stock or securities by the U.S. person to the foreign acquiring corporation.

Rev. Proc. 2002-75(PDF, 47K)
Qualification as insurance. This procedure modifies Rev. Proc. 2002-3, 2002-1 I.R.B.117, by removing sections 4.01(11) and 4.01(41) from the list of areas in which the Service ordinarily will not issue rulings or determination letters.These sections concerned whether there is adequate risk shifting and risk distribution for a transaction to constitute insurance for federal income tax purposes. Rev. Proc. 2002-3 modified.