Revenue Procedures

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6 Jun 2005 | Revenue Procedures | National Publication | News story | 1 comments
The American Council on Gift Annuities has written to Treasury and the IRS asking them to withdraw Rev. Proc. 2005-24 (requiring waivers of spousal rights of election against inter vivos CRUTs and CRATs) for further study. ACGA maintains that waivers shouldn't be...
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Thomas Purcell III of the American Institute of Certified Public Accountants has joined the chorus in recommending either changing or withdrawing guidance on spousal election rights and charitable remainder trusts, warning that the guidance is not only confusing but...
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22 Aug 2005 | Revenue Procedures | National Publication | News story | 1 comments

The IRS has released eight new annotated sample declarations of trust and alternate provisions for inter vivos and testamentary charitable remainder unitrusts with varying measuring terms. Previously, the IRS issued sample trust instruments for certain types of...

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Judith McCue of the American College of Trust and Estate Counsel, Los Angeles, has submitted comments on recent guidance (Rev. Proc. 2005-24) requiring spousal election waivers for charitable remainder trusts, identifying several problems and recommending a conceptual...
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The IRS has extended (Notice 2006-15) the June 28, 2005, safe harbor date that applies to certain charitable remainder annuity trusts (CRATs) or charitable remainder unitrusts (CRUTs), pending further guidance from the IRS.
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Thomas Purcell of the American Institute of Certified Public Accountants has followed up on prior AICPA comments on guidance on spousal election rights and charitable remainder trusts by suggesting that future guidance on the matter be published in proposed form to...
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The Service has issued an advance copy of Rev. Proc. 2007-52 which sets forth the procedures for issuing determination letters and rulings on exempt status of organizations under sections 501 and 521. These procedures also apply to revocation and modification of...
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In Rev. Proc. 2008-3, the IRS has updated the list of areas of the code for which it will not issue private letter rulings or determination letters.
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The Service has issued procedures for issuing determination letters and rulings on the exempt status of organizations under IRC §§ 501 and 521 (other than retirement plans). Generally, the Service issues these determination letters and rulings in response to...
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The IRS has issued guidance that updates Rev. Proc. 2006-48 and identifies circumstances under which the disclosure on a taxpayer's return with respect to an item or a position is adequate for the purpose of reducing the understatement of income tax under IRC section...
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The IRS has issued Rev. Proc. 2008-46 which contains annotated a sample declaration of trust and alternate provisions for a testamentary charitable lead unitrust with payments to one or more charitable beneficiaries for the unitrust period followed by the distribution...
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The IRS has issued guidance that provides reliance criteria for private foundations and sponsoring organizations that maintain donor advised funds in determining whether a potential grantee is an organization described in section 509(a)(1), (2) or (3) of the Internal...
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The IRS has issued Rev. Proc. 2010-9 in which it sets forth procedures for issuing determination letters and rulings on the exempt status of organizations under
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Treasury has issued Rev. Proc. 2011-36 in which it modifies section 6.07 of Rev. Proc. 2011-8, 2011-1 I.R.B. 237, to provide for a reduced user fee for applications for reinstatement of tax-exempt status filed by certain small organizations following automatic...

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The IRS has issued guidance that sets forth procedures for issuing determination letters and rulings on the exempt status of organizations under §§ 501 and 521 of the Internal Revenue Code. These procedures also apply to revocation or modification of...

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The IRS has issued updated procedures with respect to issuing rulings and determination letters on private foundation status under § 509(a) of the Internal Revenue Code, operating foundation status under § 4942(j)(3), and exempt operating foundation status under §...

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The IRS has issued Rev. Proc. 2013-35 in which it makes annual inflation adjustments for more than 40 tax provisions, including the tax rate schedules, and other tax changes for the 2014 tax year.

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The IRS requests comments in Federal Register/ Volume 79, No. 66/Monday April 7, 2014. The notice is regarding Rev. Proc. ...

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Rev. Proc. 2003-53, 2003-31 IRB 230

The Service has published (Rev. Proc. 2003-53) a sample declaration of trust that meets the requirements under section 664 and reg. section 1.664-2 for an inter vivos charitable remainder annuity trust (CRAT) for one measuring life.

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Define: Revenue Procedures

A Revenue Procedure (Rev. Proc.) provides drafting guidance, return filing or other instructions concerning an IRS position. Revenue procedures are considered tax precedent. This means that provided the facts match those in the procedure, individual taxpayers can apply their conclusions to their own transactions and the IRS is bound by them.

Recent activity

Heard on the Web: New 1023-EZ Form Makes Applying to be Tax-Exempt Easier; Most Charities Qualify

IRS Publishes Sample Inter Vivos Charitable Lead Unitrust Forms

IRS Publishes Sample Charitable Lead Annuity Trust Forms

An Elegant Solution to Rev. Proc. 2005-24 Spousal Election Tax Trap

IRS Provides Eight New Sample Inter Vivos and Testamentary CRUT Declarations

ACGA Asks Treasury to Withdraw Rev. Proc. 2005-24