Internal Revenue Bulletin 2005-12 (PDF rendition): IRS Revenue Rulings

Preserve advance releases and the authoritative Internal Revenue Bulletin rendition; directory timestamps are file-publication metadata, not legal effective dates. HTML bulletins begin June 2003; earlier available issues require full PDF parsing. Whole bulletin rendition: numbered items are identified below; other legal material and publisher context remain included. This is not a new standalone advance release.

Bulletin No. 200
5-12
March 21, 2005
HIGHLIGHTS
OF THIS ISSUE
These synopses are intended only as aids to the reader in
identifying the subject matter covered. They may not be
relied upon as authoritative interpretations.
INCOME TAX
Rev. Rul. 2005–14, page 749.
Fringe benefits aircraft valuation formula.The Standard
Industry Fare Level (SIFL) cents-per-mile rates and terminal
charges in effect for the first half of 2005 are set forth for
purposes of determining the value of noncommercial flights
on employer-provided aircraft under section 1.61–21(g) of the
regulations.
T.D. 9183
, page 754.
Final regu
lations under section 7701 of the Code clarify that
adisrega
rded entity (an entity that is not treated as separate
from its o
wner) is treated as a separate entity for purposes of
any feder
al tax liability for which it is liable.
T.D. 9184, page 753.
Final regulations under section 860F of the Code relate to the
application of the unified partnership audit procedures to dis-
putes regarding the ownership of residual interests in a Real
Estate Mortgage Investment Conduit (REMIC).
T.D. 9185, page 749.
Final regulations under section 817 of the Code remove provi-
sions of the regulations that apply a look-through rule to assets
of a nonregistered partnership for purposes of satisfying the
diversification requirements of section 817(h).
Notice 2
005–22, page 756.
This not
ice clarifies and modifies Notice 2004–80 to provide
additio
nal guidance for material advisors who are required
to compl
y with sections 6111 and 6112 of the Code, as
amende
d, and to grant an extension of time for material
adviso
rs to comply with the new filing requirements under
sectio
n 6111 as previously provided in Notice 2004–80 and
Notice 2005–17. Notices 2004–80 and 2005–17 clarified
and modified.
EMPLOYEE PLANS
Notice 2005–26, page 758.
Weighted average interest rate update; corporate bond
indices; 30-year Treasury securities.The weighted aver-
age interest rate for March 2005 and the resulting permissible
range of interest rates used to calculate current liability and to
determine the required contribution are set forth.
EXEMPT ORGANIZATIONS
Announcement 2005–20, page 772.
A list is provided of organizations now classified as private foun-
dations.
Announcement 2005–21, page 776.
Little League Baseball, Inc. 2321213 Schenectady LL of
Schenectady, NY, and Jane Withers Wonderful World of Dolls
and Teddy Bears of Studio City, CA, no longer qualify as orga-
nizations to which contributions are deductible under section
170 of the Code.
(Continued on the next page)
Announcements of Disbarments and Suspensions begin on page 766.
Fi
nding Lists begin on page ii.

EXCISE TAX
Notice 2005–24, page 757.
This notice modifies Notice 2005–4, 2005–2 I.R.B. 289, by
extending the transitional rule related to sales of gasoline on
oil company credit cards and by making several corrections to
Notice 2005–4. Notice 2005–4 provides guidance on certain
excise tax provisions in the Code that were added or affected
by the American Jobs Creation Act of 2004, Pub. L. 108–357.
Notice 2005–4 modified.
ADMINISTRATIVE
Rev. Proc. 2005–13, page 759.
Automobile owners and lessees.This procedure provides
owners and lessees of passenger automobiles (including
trucks, vans, and electric automobiles) with tables detailing
the limitations on depreciation deductions for passenger
automobiles first placed in service during calendar year 2005
and the amounts to be included in income for passenger
automobiles first leased during calendar year 2005.
March 21, 20052005–12 I.R.B.

The IRS Mission
Provide America’s taxpayers top quality service by helping
them understand and meet their tax responsibilities and by
applying the tax law with integrity and fairness to all.
Introduction
The Internal Revenue Bulletin is the authoritative instrument of
the Commissioner of Internal Revenue for announcing official
rulings and procedures of the Internal Revenue Service and for
publishing Treasury Decisions, Executive Orders, Tax Conven-
tions, legislation, court decisions, and other items of general
interest. It is published weekly and may be obtained from the
Superintendent of Documents on a subscription basis. Bulletin
contents are compiled semiannually into Cumulative Bulletins,
which are sold on a single-copy basis.
It is the policy of the Service to publish in the Bulletin all sub-
stantive rulings necessary to promote a uniform application of
the tax laws, including all rulings that supersede, revoke, mod-
ify, or amend any of those previously published in the Bulletin.
All published rulings apply retroactively unless otherwise indi-
cated. Procedures relating solely to matters of internal man-
agement are not published; however, statements of internal
practices and procedures that affect the rights and duties of
taxpayers are published.
Revenue rulings represent the conclusions of the Service on the
application of the law to the pivotal facts stated in the revenue
ruling. In those based on positions taken in rulings to taxpayers
or technical advice to Service field offices, identifying details
and information of a confidential nature are deleted to prevent
unwarranted invasions of privacy and to comply with statutory
requirements.
Rulings and procedures reported in the Bulletin do not have the
force and effect of Treasury Department Regulations, but they
may be used as precedents. Unpublished rulings will not be
relied on, used, or cited as precedents by Service personnel in
the disposition of other cases. In applying published rulings and
procedures, the effect of subsequent legislation, regulations,
court decisions, rulings, and procedures must be considered,
and Service personnel and others concerned are cautioned
against reaching the same conclusions in other cases unless
the facts and circumstances are substantially the same.
The Bulletin is divided into four parts as follows:
Part I.—19
86 Code.
This part i
ncludes rulings and decisions based on provisions of
the Intern
al Revenue Code of 1986.
Part II.—Treaties and Tax Legislation.
This part is divided into two subparts as follows: Subpart A,
Tax Conventions and Other Related Items, and Subpart B, Leg-
islation and Related Committee Reports.
Part III.—Administrative, Procedural, and Miscellaneous.
To the extent practicable, pertinent cross references to these
subjects are contained in the other Parts and Subparts. Also
included in this part are Bank Secrecy Act Administrative Rul-
ings. Bank Secrecy Act Administrative Rulings are issued by
the Department of the Treasury’s Office of the Assistant Sec-
retary (Enforcement).
Part IV
.—Items of General Interest.
This par
t includes notices of proposed rulemakings, disbar-
ment an
d suspension lists, and announcements.
The last Bulletin for each month includes a cumulative index
for the matters published during the preceding months. These
monthly indexes are cumulated on a semiannual basis, and are
published in the last Bulletin of each semiannual period.
The c
ontents of this publication are not copyrighted and may be reprinted freely. A citation of the Internal Revenue Bulletin as the source would be appropriate.
For sale by the Superintendent of Documents, U.S.Government Printing Office, Washington, DC 20402.
2005–12 I.R.B.March 21, 2005

Place missing child here.
March 21, 20052005–12 I.R.B.

Part I. Rulings and Decisions Under the Internal Revenue Code
of 1986
Section 61.—Gross Income
Defined
26 CFR 1.61–21: Taxation of fringe benefits.
Fringe benefits aircraft valuation for-
mula.The Standard Industry Fare Level
(SIFL) cents-per-mile rates and terminal
charges in effect for the first half of 2005
are set forth for purposes of determining
the value of noncommercial flights on
employer-provided aircraft under section
1.61–21(g) of the regulations.
Rev. Rul. 2005–14
For purposes of the taxation of fringe
benefits under section 61 of the Inter-
nal Revenue Code, section 1.61–21(g) of
the Income Tax Regulations provides a
rule for valuing noncommercial flights
on employer-provided aircraft.Section
1.61–21(g)(5) provides an aircraft valua-
tion formula to determine the value of such
flights. The value of a flight is determined
under the base aircraft valuation formula
(also known as the Standard Industry Fare
Level formula or SIFL) by multiplying
the SIFL cents-per-mile rates applicable
for the period during which the flight was
taken by the appropriate aircraft multiple
provided in section 1.61–21(g)(7) and then
adding the applicable terminal charge. The
SIFL cents-per-mile rates in the formula
and the terminal charge are calculated by
the Department of Transportation and are
reviewed semi-annually.
The following chart sets forth the termi-
nal charges and SIFL mileage rates:
Period During Which
the Flight Is Taken
Te r m i n a l
Charge
SIFL Mileage
Rates
1/1/05 – 6/30/05
$35.49
Up to 500 miles
= $.1942 per mile
501–1500 miles
= $.1480 per mile
Over 1500 miles
= $.1423 per mile
DRAFTING INFORMATION
The principal author of this revenue
ruling is Kathleen Edmondson of the
Office of Division Counsel/Associate
Chief Counsel (Tax Exempt and Govern-
ment Entities).For further information
regarding this revenue ruling, contact
Ms. Edmondson at (202) 622–0047 (not a
toll-free call).
Section 280F.—Limitation
on Depreciation for Luxury
Automobiles; Limitation
Where Certain Property
Used for Personal Purposes
26 CFR 1.280F–7: Property leased after December
31, 1986.
This procedure provides owners and lessees of
passenger automobiles (including electric auto-
mobiles) with tables detailing the limitations on
depreciation deductions for automobiles first placed
in service during calendar year 2005 and the amounts
to be included in income for automobiles first leased
during calendar year 2005. See Rev. Proc. 2005-13,
page 759.
Section 817.—Treatment
of Variable Contracts
26 CFR 1.817–5: Diversification requirements for
variable annuity, endowment, and life insurance con-
tracts.
T.D. 9185
DEPARTMENT OF
THE TREASURY
Internal Revenue Service
26 CFR Part 1
Diversification Requirements
for Variable Annuity,
Endowment, and Life
Insurance Contracts
AGENCY: Internal Revenue Service
(IRS), Treasury.
ACTION: Final regulations.
SUMMARY: This document contains fi-
nal regulations removing provisions of
the Income Tax Regulations that apply a
look-through rule to assets of a nonregis-
tered partnership for purposes of satisfying
the diversification requirements of section
817(h) of the Internal Revenue Code.
DATES:Effective Date:Theseregula-
tions are effective as of March 1, 2005.
However, arrangements in existence on
March 1, 2005, will be considered to be
adequately diversified if: (i) those ar-
rangements were adequately diversified
within the meaning of section 817(h) prior
to March 1, 2005, and (ii) by December
31, 2005, the arrangements are brought
into compliance with the final regulations.
Applicability Date: For dates of appli-
cability, see §1.817–5(i).
FORFURTHERINFORMATION
CONTACT: James Polfer, (202) 622–3970
(not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
Under section 817(h), a variable con-
tract based on a segregated asset account
is not treated as an annuity, endowment,
or life insurance contract unless the segre-
gated asset account is adequately diversi-
fied. For purposes of testing diversifica-
2005–12 I.R.B.749March 21, 2005

tion, section 817(h)(4) and §1.817–5(f) of
the regulations provide a look-through rule
for assets held through certain investment
companies, partnerships, or trusts. Sec-
tion 1.817–5(f)(2)(i) provides that look-
through treatment is available with respect
to any investment company, partnership,
or trust only if all the beneficial interests
in the investment company, partnership,
or trust are held by one or more segre-
gated asset accounts of one or more insur-
ance companies, and public access to such
investment company, partnership, or trust
is available exclusively (except as other-
wise permitted by section 1.817–5(f)(3))
through the purchase of a variable contract.
Under §1.817–5(f)(2)(ii), the look-through
rule applies to a partnership interest that
is not registered under a Federal or state
law regulating the offering or sale of secu-
rities. Unlike §1.817–5(f)(2)(i), satisfac-
tion of the nonregistered partnership look-
through rule of §1.817–5(f)(2)(ii) is not ex-
plicitly conditioned on limiting the owner-
ship of interests in the partnership to cer-
tain specified holders.
On July 30, 2003, the Treasury Depart-
ment and the IRS published a notice of
proposed rulemaking (REG–163974–02,
2003–2 C.B. 595) under section 817 in
theFederal Register(68 FR 44689). The
proposed regulations would remove the
rule that applies specifically to nonregis-
tered partnerships for purposes of testing
diversification. The proposed regulations
also would remove an example that illus-
trates that rule.
The application of §1.817–5(f)(2)(i)
to interests in nonregistered partnerships
will be unchanged by the removal of
§1.817–5(f)(2)(ii).Thus, look-through
treatment will be available for interests
in a nonregistered partnership if all the
beneficial interests in the partnership are
held by one or more segregated asset
accounts of one or more insurance compa-
nies and public access to the partnership is
available exclusively (except as otherwise
permitted by §1.817–5(f)(3)) through the
purchase of a variable contract.
Written comments were received in re-
sponse to the notice of proposed rulemak-
ing. A public hearing on the notice of
proposed rulemaking was held on April 1,
2004. After consideration of all the com-
ments and the hearing testimony, the pro-
posed regulations are adopted as amended
by this Treasury decision.
Explanation and Summary of
Comments and Public Hearing
In addition to requesting comments
on the clarity of the proposed rule and
how the rule could be made easier to
understand,the Treasury Department
and the IRS specifically requested com-
ments on:(1) whether revocation of
§1.817–5(f)(2)(ii)necessitatesother
changes to the look-through rules of
§1.817–5(f), in particular whether the
list of holders permitted by §1.817–5(f)(3)
should be amended or expanded, and
whether a non-pro-ratadistribution of
the investment returns of a segregated
asset account should be permitted to take
account of certain bonus payments to in-
vestment managers commonly referred
to as incentive payments, (2) whether
§1.817–5 should be updated to take ac-
count of changes to variable contracts
since the final regulations were published
in 1986, and (3) whether regulations are
needed to address when a holder of a vari-
able contract will be treated as the owner
of assets held in a segregated asset account
and, therefore, required to include earn-
ings on those assets in income.
1.Comments on the Proposed Regulations
Two comments on the proposed
regulation concerned the definition of
“security” in §1.817–5(h)(6).Under
§1.817–5(b)(1)(ii)(A), all securities of
the same issuer are treated as one in-
vestment for the purposes of satisfying
the diversification requirements. Section
1.817–5(h)(6) provides that the term secu-
rity includes “a cash item and any partner-
ship interest registered under a Federal or
State law regulating the offering or sale of
securities,” but does not include “any other
partnership interest.” The commentators
stated that the definition of “security” that
applies to §1.817–5 should be amended to
include an interest in a non-registered part-
nership. The Treasury Department and the
IRS agree that, in light of the revocation of
former §1.817–5(f)(2)(ii), the definition of
security should be modified to remove the
distinction betweenregistered and non-
registered partnership interests. The final
regulations reflect this change.
A number of commentators also sug-
gested that the regulation should be clari-
fied by adding to or otherwise revising the
examples contained in §1.817–5(g). In re-
sponse to these comments, the final reg-
ulations revise §1.817–5(g)Example 1to
remove the reference to partnership P as a
publicly registered partnership. The Trea-
sury Department and the IRS believe that,
with this change, the examples contained
in §1.817–5(g) adequately explain the ap-
plication of §1.817–5 to partnership inter-
ests. Any questions concerning the appli-
cation of §1.817–5 to more specific factual
scenarios may be addressed by the letter
ruling process or by subsequent published
guidance.
Two commentators urged that existing
arrangements eithershould be grandfa-
thered in some fashion or should be given
additional time to be brought into compli-
ance with the final regulations. The notice
of proposed rulemaking provided that ar-
rangements in existence on the effective
date of the revocation of §1.817–5(f)(2)(ii)
will be considered to be adequately diver-
sified if:(i) those arrangements were
adequately diversified within the meaning
of section 817(h) prior to the revocation of
§1.817–5(f)(2)(ii), and (ii) by the end of
the last day of the second calendar quar-
ter ending after the effective date of the
regulation, the arrangements are brought
into compliance with the final regulations.
The Treasury Department and the IRS do
not believe it is appropriate to grandfa-
ther existing arrangements indefinitely.
In response to these comments, however,
the transition period for existing arrange-
ments to be brought into compliance with
the regulations is two calendar quarters
longer than the period provided in the
proposed regulations.
Finally, one commentator questioned
the authority of the Treasury Department
and the IRS to enact this final regulation
because “the only substantive impetus
for the regulation is a general statement
in the legislative history.” Congress en-
acted the diversification requirements of
section 817(h) to “discourage the use of
tax-preferred variable annuity and vari-
able life insurance primarily as investment
vehicles,” H.R. Conf. Rep. No. 98–861,
at 1055 (1984), and granted the Secre-
tary broad regulatory authority to develop
rules to carry out this intent. The Treasury
Department and the IRS have determined
that this final regulation and the rest of the
regulations contained in §1.817–5 were
March 21, 20057502005–12 I.R.B.

prescribed within the delegation of author-
ityprovidedbyCongress.
2.Comments on §1.817–5 More Generally
Many comments concerned the list of
permitted investors under §1.817–5(f)(3).
Notwithstanding the limitations on pub-
lic access to an investment company,
partnership, or trust that is subject to
look-through treatment under §1.817–5(f),
§1.817–5(f)(3) permits look-through treat-
ment if the beneficial interests of the
investment company, partnership, or trust
are held by certain other “permitted in-
vestors,” including the general account
of a life insurance company (if certain
requirements are met), the manager or a
corporation related to the manager (if cer-
tain requirements are met), or the trustee of
a qualified plan. Commentators suggested
that the list of permitted investors be ex-
panded to include, for example, qualified
tuition programs described in section 529;
segregated asset accounts of foreign insur-
ance companies; foreign pension plans;
persons or entities related to the manager
of an investment company, partnership,
or trust in a manner specified in section
707(b); certain investment professionals
operating as service providers; or persons
who receive interests in a partnership as
a result of inadvertent transfers, such as
by bankruptcy or death of the permitted
investor. The sole speaker at the public
hearingonthenoticeofproposedrule-
making testified that the list of investors
permitted by §1.817–5(f)(3) should be
expanded to include “floor specialists” as
that term is defined in section 1236(d)(2).
Other comments suggested guidance on
non-pro-ratamanager compensation. In
order for the manager (or a corporation
related in a manner specified in section
267(b) to the manager) of an investment
company, partnership, or trust, to be a per-
mitted investor under §1.817–5(f)(3)(ii),
(1) its interest must be held in connection
with the creation or management of the in-
vestment company, partnership, or trust;
(2) the return on such interest must be com-
puted in the same manner as the return on
an interest held by a segregated asset ac-
count is computed (determined without re-
gard to expenses attributable to variable
contracts); and (3) there must be no in-
tent to sell such interest to the public. A
number of commentators stated that the re-
quirement that the return on a manager’s
interest be computed in the same man-
ner as the return on a segregated asset ac-
count’s interest — essentially apro-rata
distribution requirement — is inconsistent
with prevailing market practices concern-
ing manager bonuses, discourages the cre-
ation of insurance dedicated funds, and is
not necessary to prevent abuse of the look-
through rules contained in §1.817–5(f).
Some comments stated there is a need to
clarify the consequences to a variable con-
tract and variable contract holder when the
contract’s segregated asset account con-
tains an asset in which beneficial inter-
ests are held by investors (such as quali-
fied plans) that qualified as permitted in-
vestors in §1.817–5(f)(2) or (3) at the time
of initial investment, but subsequently lose
their status. Similarly, one commentator
urged that if an insurance company has a
reasonable basis to believe that an invest-
ment company, partnership, or trust sat-
isfies the requirements of §1.817–5(f)(2),
a variable contract of that insurance com-
pany should be permitted to look-through
that entity for purposes of testing a seg-
regated asset account on which that con-
tract is based, even if the investment com-
pany, partnership, or trust has investors not
described in §1.817–5(f)(2) or (3). The
commentator suggested that this standard
would be consistent with the standard of
determination often used in the Federal se-
curities laws.
Other comments included a request for
clarification of the treatment of fund-of-
funds and master-feeder arrangements for
purposes of testing diversification; the de-
sirability of an updated correction proce-
dure for failure to satisfy the diversifica-
tion requirements of section 817(h) and
§1.817–5; guidance concerning the use of
independent investment advisors; and ex-
tension of the special diversification rules
for United States Treasury securities un-
der section 817(h)(3) and §1.817–5(b)(3)
to variable annuity contracts. (The lat-
ter comment presumably would require a
change to section 817(h)(3), as well as to
the regulations.)
Although the comments on §1.817–5
generally are not adopted in this Treasury
decision, the Treasury Department and
IRS will consider these comments in the
event of future published guidance. For
example, Rev.Rul.2005–7, 2005–6
I.R.B. 464 (see §601.601(d)(2)(ii)(b)
of this chapter) provides guidance on
the application of the diversification
look-through rule to tiered investment
companies.
3.Comments on Investor Control
Finally, some comments concerned the
need for additional guidance addressing
circumstances under which the holder of
a variable contract will be treated as the
owner of assets held by a segregated as-
set account by virtue of the control the
contract holder has over those assets. Un-
der Rev. Rul. 81–225, 1981–2 C.B. 12
(see §601.601(d)(2)(ii)(b)ofthischapter),
theownerofavariable annuity contract
funded by publicly available mutual fund
shares is treated as the owner of those
shares.Rev.Rul.2003–92, 2003–2
C.B. 350 (see §601.601(d)(2)(ii)(b)of
this chapter), clarified and amplified Rev.
Rul. 81–225 by applying the same rule
to variable life insurance contracts, and
by treating as publicly available a non-
registered partnership, interests in which
are sold only to qualified purchasers that
are accredited investors or to no more than
one hundred accredited investors.See also
Rev. Rul. 2003–91, 2003–2 C.B. 347;
Rev. Rul. 82–54, 1982–1 C.B. 11; Rev.
Rul. 80–274, 1980–2 C.B. 27; Rev. Rul.
77–85, 1977–1 C.B. 12.;Christoffersen v.
U.S., 749 F.2d 513 (8
th
Cir. 1984),rev’g
578 F. Supp. 398 (N.D. Iowa 1984). See
§601.601(d)(2)(ii)(b) of this chapter.
One commentator urged that Rev. Rul.
2003–92 should not be applied retroac-
tively to treat certain investors as the
“general public” as that term is used in
Rev. Rul. 81–225. Specifically, the com-
mentator requested relief for investments
in real estate partnerships, interests in
which are held directly by (1) organiza-
tions described in section 501(c)(3), and
(2) such partnerships’ investment man-
agers, if those managers are not described
in §1.817–5(f)(3)(ii) because of bonus
payment arrangements. The commentator
believed such relief is warranted because
of uncertainty concerning the meaning
of “general public” as that term is used
in Rev.Rul.81–225.Several other
commentators suggested that regulations
under section 817 should clarify that the
permitted investors under §1.817–5(f)(3)
do not constitute the “general” public as
that term is used in Rev. Rul. 2003–92
2005–12 I.R.B.751March 21, 2005

and Rev. Rul. 81–225. According to these
commentators, it would be anomalous for
ownership by a permitted investor under
§1.817–5(f)(3) to result in a variable con-
tract holder being treated as the owner of
an investment company, partnership, or
trust, when the look-through rule itself ap-
pears to endorse ownership by that same
investor for purposes of testing diversifi-
cation. Still another commentator noted
that when determining whether a contract
holder is treated as the owner of segregated
account assets, communications between
investment advisors or officers and vari-
able contract holders should be permitted
if the communications are consistent with
Federal securities and commodities laws.
One commentator suggested that the
preamble to this Treasury decision should
confirm the intended scope of Rev. Proc.
99–44, 1999–2 C.B. 598.Under Rev.
Proc. 99–44, a contract is treated as an
annuity contract described in sections
403(a), 403(b), or 408(b), notwithstanding
that contract premiums are invested at the
direction of the contract holder in publicly
available securities, so long as certain re-
quirements are met. Those requirements
include a limitation that no additional Fed-
eral tax liability would have been incurred
if the employer of the contract holder had
instead paid amounts into a custodial ac-
count in an arrangement that satisfied the
requirements of section 403(b)(7)(A) or
no additional Federal tax liability would
have been incurred if the consideration for
the contract had instead been held as part
of a trust that would satisfy the require-
ments of section 408(a), as applicable.
The commentator urged that the pream-
ble to this Treasury decision clarify that
the “no additional Federal tax liability”
limitation was intended to apply only to
tax on unrelated business income. Finally,
one commentator noted that, given the in-
herent factual nature of the determination
whether a contract holder is treated as the
owner of segregated account assets, the
issueisbetteraddressedbyletterrulingor
revenue ruling, rather than by regulations.
Although the comments on investor
control are not adopted in this Treasury
decision, they are responsive to the request
for comments in the July 30, 2003, notice
of proposed rulemaking and will receive
careful attention in the event of further
guidance on investor control.
Special Analyses
It has been determined that this Trea-
sury decision is not a significant regula-
tory action as defined in Executive Order
12866. Therefore, a regulatory assessment
is not required. It also has been determined
that section 553(b) of the Administrative
Procedure Act (5 U.S.C. chapter 5) does
not apply to these regulations, and because
the regulations do not impose a collection
of information on small entities, the Regu-
latory Flexibility Act (5 U.S.C. chapter 6)
does not apply. Pursuant to section 7805(f)
of the Internal Revenue Code, the notice of
proposed rulemaking preceding these reg-
ulations was submitted to the Small Busi-
ness Administration for comment on its
impact on small business.
Drafting Information
The principal author of these regula-
tions is James Polfer, Office of the Asso-
ciate Chief Counsel (Financial Institutions
and Products), Office of Chief Counsel, In-
ternal Revenue Service. However, person-
nel from other offices of the Treasury De-
partment and the IRS participated in their
development.
*****
Adoption of Amendment to the
Regulations
Accordingly, 26 CFR part 1 is amended
as follows:
PA RT 1 — I N C O M E TA X
Paragraph 1. The authority citation for
part 1 continues to read in part as follows:
Authority: 26 U.S.C. 7805 * * *
Section 1.817–5 also issued under 26
U.S.C. 817(h). * * *
Par. 2. Section 1.817–5 is amended as
follows:
1. Paragraphs (f)(2)(ii) and (g)Example
3are removed.
2. Paragraph (f)(2)(iii) is redesignated
as paragraph (f)(2)(ii).
3. The first sentence of paragraph (g)
Example 1is revised.
4. Paragraph (g)Example 4is redesig-
nated as paragraph (g)Example 3.
5. Paragraph (h)(6) is revised.
6. New paragraph (i)(2)(v) is added.
The revisions read as follows:
§ 1.817–5 Diversification requirements
for variable annuity, endowment, and life
insurance contracts.
*****
(g) * * *
Example 1. (i) The assets underlying variable
contracts issued by a life insurance company consist
of two groups of assets: (a) a diversified portfolio of
debt securities and (b) interests in P, a partnership.
***
(h) * * *
(6)Security.Thetermsecurityshall
include a cash item and any partnership
interest, whether or not registered under a
Federal or State law regulating the offering
or sale of securities. The term shall not
include any interest in real property, or any
interest in a commodity.
*****
(i) * * *
(2) * * *
(v) A segregated asset account in exis-
tence before March 1, 2005, will be con-
sidered to be adequately diversified if—
(A) As of March 1, 2005, the account
was adequately diversified within the
meaning of section 817(h) and this regula
-
tion as in effect prior to that date; and
(B) By December 31, 2005, the account
is adequately diversified within the me
an-
ing of section 817(h) and this regulatio
n.
Mark E. Matthews,
Deputy Commissioner for
Services and Enforcement.
Approved February 15, 2005.
Eric Solomon,
Acting Deputy Assistant Secretary
of the Treasury.
(Filed by the Office of the Federal Register on February 28,
2005, 8:45 a.m., and published in the issue of the Federal
Register for March 1, 2005, 70 F.R. 9869)
March 21, 20057522005–12 I.R.B.

Section 860F.—Other Rules
26 CFR 1.860F–4: Remic reporting requirements
and other administrative rules.
T.D. 9184
DEPARTMENT OF
THE TREASURY
Internal Revenue Service
26 CFR Part 1
Real Estate Mortgage
Investment Conduits
AGENCY: Internal Revenue Service
(IRS), Treasury.
ACTION: Final Regulation.
SUMMARY: This document contains final
regulations relating to the application of
the unified partnership audit procedures to
disputes regarding the ownership of resid-
ual interests in a Real Estate Mortgage In-
vestment Conduit (REMIC). These regu-
lations will affect taxpayers that invest in
REMIC residual interests.
DATES: These regulations apply after De-
cember 31, 1986.
FORFURTHERINFORMATION
CONTACT:ArturoEstrada,(202)
622–3900 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
This regulation amends 26 CFR Part 1
under section 860F of the Internal Revenue
Code (Code) relating to the application of
the unified partnership audit procedures of
subchapter C of chapter 63 of the Code
to REMICs and the holders of residual in-
terests. Section 860F(e) provides that a
REMIC is treated as a partnership (and
holders of residual interests in that REMIC
shall be treated as partners) for purposes of
subtitle F of the Code, which includes the
unified partnership audit procedures. The
taxable income of a holder of a REMIC
residual interest is determined under the
REMIC provisions of part IV of subchap-
ter M, which require the holder to take into
account its daily portion of the REMIC’s
taxable income or net loss for each day dur-
ing the taxable year on which the holder
holds its interest. Section 860C(a)(1). The
provisions of subchapter K relating to the
determination of the taxable income of a
partnership and its partners do not apply to
REMICs or the holders of REMIC residual
interests. Section 860A(a).
Questionshavearisenregarding
whether the identity of the holder of a
REMIC residual interest is treated as a
partnership item for purposes of the uni-
fied partnership audit procedures. Ques-
tions also have arisen regarding the ap-
plicability of the unified partnership audit
procedures when a determination is made
under the REMIC regulations to disregard
certain transfers of REMIC residual in-
terests and continue to treat the transferor
as the holder of the transferred REMIC
residual interests. See §§1.860E–1(c) and
1.860G–3.
The IRS and Treasury Department have
determined that the identity of a holder of
a REMIC residual interest is more appro-
priately determined at the residual inter-
est holder level than at the REMIC entity
level.
Explanation of Provisions
The regulations provide that the deter-
mination of the identity of a holder of
a REMIC residual interest is not a part-
nership item for purposes of the unified
partnership audit procedures as applied to
REMICs, whether or not such determina-
tion involves the application of a disre-
garded transfer rule. Unlike the identity of
a partner in a partnership subject to sub-
chapter K, the identity of the holder of a
REMIC residual interest does not affect
the calculation of the REMIC’s taxable in-
come or net loss.
Effective Date
These regulations apply after December
31, 1986. See §1.860A–1(b)(1)(ii).
Special Analyses
It has been determined that this Trea-
sury decision is not a significant regula-
tory action as defined in Executive Order
12866. Therefore, a regulatory assessment
is not required. It also has been determined
that section 553(b) of the Administrative
Procedure Act (5 U.S.C. chapter 5) does
not apply to these regulations, and because
these regulations do not impose a collec-
tion requirement on small entities, the Reg-
ulatory Flexibility Act (5 U.S.C. chapter
6) does not apply. Therefore, a Regula-
tory Flexibility Analysis is not required.
Pursuant to section 7805(f) of the Code,
this Treasury decision has been submitted
to the Chief Counsel for Advocacy of the
Small Business Administration for com-
ment on its impact on small businesses.
Drafting Information
The principal author of these regula-
tions is Arturo Estrada, Office of the As-
sociate Chief Counsel (Financial Institu-
tions and Products). However, other per-
sonnel from the IRS and Treasury Depart-
ment participated in their development.
*****
Amendments to the Regulations
Accordingly, 26 CFR part 1 is amended
as follows:
PA RT 1 — I N C O M E TA X E S
Paragraph 1. The authority citation for
part 1 is amended by adding an entry in
numerical order to read, in part, as follows:
Authority: 26 U.S.C. 7805 * * *
Section 860F–4 issued under 26 U.S.C.
860G(e) and 26 U.S.C. 6230(k).* * *
Par. 2. In §1.860F–4, paragraph (a) is
amended by adding a sentence at the end
of the paragraph to read as follows:
§1.860F–4 REMIC reporting requirements
and other administrative rules.
(a)***Theidentityofaholderofa
residual interest in a REMIC is not treated
as a partnership item with respect to the
REMIC for purposes of subchapter C of
chapter 63.
*****
Mark E. Matthews,
Deputy Commissioner for
Services and Enforcement.
Approved February 15, 2005.
Eric Solomon,
Acting Deputy Assistant Secretary
oftheTreasury(TaxPolicy).
2005–12 I.R.B.753March 21, 2005

(Filed by the Office of the Federal Register on February 24,
2005, 8:45 a.m., and published in the issue of the Federal
Register for February 25, 2005, 70 F.R. 9218)
Section 7701.—Definitions
301.7701–2: Business entities; definitions.
T.D. 9183
DEPARTMENT OF
THE TREASURY
Internal Revenue Service
26 CFR Parts 1 and 301
Modification of Check the Box
AGENCY: Internal Revenue Service
(IRS), Treasury.
ACTION: Final regulation.
SUMMARY: This document contains fi-
nal regulations that clarify that qualified
REIT subsidiaries, qualified subchapter S
subsidiaries, and single owner eligible en-
tities that are disregarded as entities sepa-
rate from their owners are treated as sep-
arate entities for purposes of any Federal
tax liability for which the entity is liable.
These regulations affect disregarded enti-
ties that are liable for Federal taxes with
respect to tax periods during which they
were not disregarded or because they are
successors or transferees of taxable enti-
ties.
DATES:Effective Date: These regulations
are effective April 1, 2004.
ApplicabilityDates:Fordates
ofapplicability,see§§1.856–9(c),
1.1361–4(a)(6)(iii), and 301.7701–2(e).
FORFURTHERINFORMATION
CONTACT:MartinSchäffer,(202)
622–3070 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
This document contains amendments
to 26 CFR parts 1 and 301. The amend-
ments to 26 CFR part 1 are under sections
856 and 1361 of the Internal Revenue
Code (Code). Section 856(i) was added
by the Tax Reform Act of 1986 (Public
Law 99–514, 100 Stat.2085).Sec-
tion 1361(b)(3) was added by the Small
Business Job Protection Act of 1996
(Public Law 104–188, 110 Stat. 1755).
The amendments to 26 CFR part 301
are to §301.7701–2, first promulgated
by T.D. 8697, 1997–1 C.B. 215 [61 FR
66584] (December 18, 1996). On April
1, 2004, a notice of proposed rulemaking
(REG–106681–02, 2004–18 I.R.B. 852)
relating to the taxation of disregarded enti-
ties was published in theFederal Register
(69 FR 17117). A notice of correction was
published in theFederal Register(69 FR
22463) on April 26, 2004. No comments
were received from the public in response
to the notice of proposed rulemaking.
No public hearing was requested, and
accordingly, no hearing was held. This
Treasury decision adopts the language of
the proposed regulations with only minor
clarifying changes.
Special Analyses
It has been determined that this Trea-
sury decision is not a significant regula-
tory action as defined in Executive Order
12866. Therefore, a regulatory assessment
is not required. It also has been deter-
mined that section 553(b) of the Admin-
istrative Procedure Act (5 U.S.C. chapter
5) does not apply to these regulations and,
because the regulations do not impose a
collection of information on small entities,
the Regulatory Flexibility Act (5 U.S.C.
chapter 6) does not apply. Pursuant to sec-
tion 7805(f) of the Code, the proposed reg-
ulations preceding these regulations were
submitted to the Chief Counsel for Advo-
cacy of the Small Business Administration
for comment on its impact on small busi-
ness.
Drafting Information
The principal author of these regu-
lations is James M. Gergurich of the
Office of the Associate Chief Coun-
sel (Passthroughs & Special Industries).
However, other personnel from the IRS
and Treasury Department participated in
their development.
*****
Adoption of Amendments to the
Regulations
Accordingly, 26 CFR parts 1 and 301
are amended as follows:
PA RT 1 — I N C O M E TA X
Paragraph 1. The authority citation for
part 1 continues to read, in part, as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.856–9 is added to read
as follows:
§1.856–9 Treatment of certain qualified
REIT subsidiaries.
(a)In general. A qualified REIT sub-
sidiary, even though it is otherwise not
treated as a corporation separate from the
REIT, is treated as a separate corporation
for purposes of:
(1) Federal tax liabilities of the quali-
fied REIT subsidiary with respect to any
taxable period for which the qualified
REIT subsidiary was treated as a separate
corporation.
(2) Federal tax liabilities of any other
entity for which the qualified REIT sub-
sidiary is liable.
(3) Refunds or credits of Federal tax.
(b)Examples. The following examples
illustrate the application of paragraph (a)
of this section:
Example 1. X, a calendar year taxpayer, is a do-
mestic corporation 100 percent of the stock of which
is acquired by Y, a real estate investment trust, in
2002. X was not a member of a consolidated group at
any time during its taxable year ending in December
2001. Consequently, X is treated as a qualified REIT
subsidiary under the provisions of section 856(i) for
2002 and later periods. In 2004, the Internal Revenue
Service (“IRS”) seeks to extend the period of limita-
tions on assessment for X’s 2001 taxable year. Be-
cause X was treated as a separate corporation for its
2001 taxable year, X is the proper party to sign the
consent to extend the period of limitations.
Example 2. ThefactsarethesameasinExam-
ple 1, except that upon Y’s acquisition of X, Y and X
jointly elect under section 856(l) to treat X as a tax-
able REIT subsidiary of Y. In 2003, Y and X jointly
revoke that election. Consequently, X is treated as
a qualified REIT subsidiary under the provisions of
section 856(i) for 2003 and later periods. In 2004,
the IRS determines that X miscalculated and under-
reported its income tax liability for 2001. Because X
was treated as a separate corporation for its 2001 tax-
able year, the deficiency may be assessed against X
and, in the event that X fails to pay the liability af-
ter notice and demand, a general tax lien will arise
against all of X’s property and rights to property.
Example 3. X is a qualified REIT subsidiary of Y
under the provisions of section 856(i). In 2001, Z, a
domestic corporation that reports its taxes on a calen-
dar year basis, merges into X in a state law merger. Z
was not a member of a consolidated group at any time
during its taxable year ending in December 2000. Un-
der the applicable state law, X is the successor to Z
and is liable for all of Z’s debts. In 2004, the IRS
seeks to extend the period of limitations on assess-
ment for Z’s 2000 taxable year. Because X is the
March 21, 20057542005–12 I.R.B.

successor to Z and is liable for Z’s 2000 taxes that
remain unpaid, X is the proper party to sign the con-
sent to extend the period of limitations.
(c)Effective date. This section applies
on or after April 1, 2004.
Par. 3. Section 1.1361–4 is amended as
follows:
1. In paragraph (a)(1) introductory text,
the first sentence is amended by remov-
ing the language “paragraph (a)(3)” and
adding “paragraphs (a)(3) and (a)(6)” in its
place.
2. Paragraph (a)(6) is added.
The additions read as follows:
§1.1361–4 Effect of Qsub election.
(a) * * *
(6)Treatment of certain QSubs—(i)In
general. A QSub, even though it is gen-
erally not treated as a corporation separate
from the S corporation, is treated as a sep-
arate corporation for purposes of:
(A) Federal tax liabilities of the QSub
with respect to any taxable period for
which the QSub was treated as a separate
corporation.
(B) Federal tax liabilities of any other
entity for which the QSub is liable.
(C) Refunds or credits of Federal tax.
(ii)Examples. The following exam-
ples illustrate the application of paragraph
(a)(6)(i) of this section:
Example 1. X has owned all of the outstanding
stock of Y, a domestic corporation that reports its
taxes on a calendar year basis, since 2001. X and
Y do not report their taxes on a consolidated basis.
For 2003, X makes a timely S election and simulta-
neously makes a QSub election for Y. In 2004, the
Internal Revenue Service (“IRS”) seeks to extend the
period of limitations on assessment for Y’s 2001 tax-
able year. Because Y was treated as a separate corpo-
ration for its 2001 taxable year, Y is the proper party
to sign the consent to extend the period of limitations.
Example 2. The facts are the same as inExample
1, except that in 2004, the IRS determines that Y mis-
calculated and underreported its income tax liability
for 2001. Because Y was treated as a separate corpo-
ration for its 2001 taxable year, the deficiency for Y’s
2001 taxable year may be assessed against Y and, in
the event that Y fails to pay the liability after notice
and demand, a general tax lien will arise against all
of Y’s property and rights to property.
Example 3. XisaQSubofY.In2001,Z,ado-
mestic corporation that reports its taxes on a calendar
year basis, merges into X in a state law merger. Z was
not a member of a consolidated group at any time dur-
ing its taxable year ending in December 2000. Under
the applicable state law, X is the successor to Z and
is liable for all of Z’s debts. In 2003, the IRS seeks
to extend the period of limitations on assessment for
Z’s 2000 taxable year. Because X is the successor to
Z and is liable for Z’s 2000 taxes that remain unpaid,
X is the proper party to execute the consent to extend
the period of limitations on assessment.
(iii)Effective date.This paragraph
(a)(6) applies on or after April 1, 2004.
PART 301—PROCEDURE AND
ADMINISTRATION
Par. 4. The authority citation for part
301 continues to read, in part, as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 5. Section 301.7701–2 is amended
as follows:
1. Paragraph (c)(2)(iii) is added.
2. Paragraph (e) is revised.
The addition and revision read as fol-
lows:
§301.7701–2 Business entities;
definitions.
*****
(c) * * *
(2) * * *
(iii)Tax liabilities of certain disre-
garded entities—(A)In general. An entity
that is otherwise disregarded as separate
from its owner is treated as an entity sepa-
rate from its owner for purposes of:
(1) Federal tax liabilities of the entity
with respect to any taxable period for
which the entity was not disregarded.
(2) Federal tax liabilities of any other
entity for which the entity is liable.
(3) Refunds or credits of Federal tax.
(B)Examples. The following exam-
ples illustrate the application of paragraph
(c)(2)(iii)(A) of this section:
Example 1. In 2001, X, a domestic corporation
that reports its taxes on a calendar year basis, merges
into Z, a domestic LLC wholly owned by Y that is
disregarded as an entity separate from Y, in a state
law merger. X was not a member of a consolidated
group at any time during its taxable year ending in
December 2000. Under the applicable state law, Z is
the successor to X and is liable for all of X’s debts.
In 2004, the Internal Revenue Service (“IRS”) seeks
to extend the period of limitations on assessment for
X’s 2000 taxable year. Because Z is the successor to
X and is liable for X’s 2000 taxes that remain unpaid,
Z is the proper party to sign the consent to extend the
period of limitations.
Example 2. The facts are the same as inExample
1, except that in 2002, the IRS determines that X mis-
calculated and underreported its income tax liability
for 2000. Because Z is the successor to X and is liable
for X’s 2000 taxes that remain unpaid, the deficiency
may be assessed against Z and, in the event that Z
fails to pay the liability after notice and demand, a
general tax lien will arise against all of Z’s property
and rights to property.
*****
(e)Effective date. (1) Except as oth-
erwise provided in this paragraph (e), the
rules of this section apply as of January
1, 1997, except that paragraph (b)(6) of
this section applies on or after January 14,
2002, to a business entity wholly owned
by a foreign government regardless of any
prior entity classification, and paragraph
(c)(2)(ii) of this section applies to taxable
years beginning after January 12, 2001.
The reference to the Finnish, Maltese, and
Norwegian entities in paragraph (b)(8)(i)
of this section is applicable on November
29, 1999. The reference to the Trinidadian
entity in paragraph (b)(8)(i) of this sec-
tion applies to entities formed on or after
November 29, 1999. Any Maltese or Nor-
wegian entity that becomes an eligible en-
tity as a result of paragraph (b)(8)(i) of this
section in effect on November 29, 1999,
may elect by February 14, 2000, to be clas-
sified for Federal tax purposes as an entity
other than a corporation retroactive to any
period from and including January 1, 1997.
Any Finnish entity that becomes an eligi-
ble entity as a result of paragraph (b)(8)(i)
of this section in effect on November 29,
1999, may elect by February 14, 2000, to
be classified for Federal tax purposes as an
entity other than a corporation retroactive
to any period from and including Septem-
ber 1, 1997.
(2) Paragraph (c)(2)(iii) of this section
applies on or after April 1, 2004.
Mark E. Matthews,
Deputy Commissioner for
Services and Enforcement.
Approved February 15, 2005.
Eric Solomon,
Acting Deputy Assistant Secretary
of the Treasury.
(Filed by the Office of the Federal Register on February 24,
2005, 8:45 a.m., and published in the issue of the Federal
Register for February 25, 2005, 70 F.R. 9220)
2005–12 I.R.B.755March 21, 2005

Part III. Administrative, Procedural, and Miscellaneous
Tem p o ra ry R u l es U n d er
Sections 6111 and 6112
Notice 2005–22
The purpose of this notice is to clar-
ify and modify Notice 2004–80, 2004–50
I.R.B. 963, to provide additional guidance
for material advisors who are required to
comply with §§ 6111 and 6112 of the In-
ternal Revenue Code, as amended, and to
grant an extension of time for material ad-
visors to comply with the new filing re-
quirements under § 6111.
BACKGROUND
Section6111, asamendedbythe
American Jobs Creation Act of 2004,
P.L. 108–357, 118 Stat. 1418 (the Act),
requires that each material advisor with
respect to any reportable transaction make
a return setting forth information identi-
fying and describing the transaction and
any potential tax benefits expected to re-
sult from the transaction no later than the
date specified by the Secretary. Notice
2004–80 announced thatthe Internal Rev-
enue Service and the Treasury Department
intend to issue regulations providing rules
under § 6111.
Notice 2004–80 also provides interim
rules implementing the requirements of
§ 6111 until the Secretary prescribes reg-
ulations.Under Notice 2004–80, each
material advisor with respect to a re-
portable transaction must file a return on
Form 8264,Application for Registration
of a Tax Shelter, within 30 days after the
date on which the person becomes a mate-
rial advisor. Notice 2004–80 also provides
transitional relief in the case of a person
who becomes a material advisor after
October 22, 2004, and on or before De-
cember 31, 2004, that allows the material
advisor to file the return before February
1, 2005. Notice 2005–17, 2005–8 I.R.B.
606, released on January 28, 2005, grants
additional transitional relief allowing a
person who becomes a material advisor
after October 22, 2004, and on or before
January 29, 2005, to file the return before
March 1, 2005.
Since the issuance of Notice 2004–80,
questions have arisen regarding the appli-
cation of the interim rules to material ad-
visors. In addition, Notice 2005–17 states
that the Service and Treasury intend to pro-
vide further guidance on the issue of the
date on which a person becomes a material
advisor with respect to a reportable trans-
action (including whether the obligation of
a material advisor arises only when a re-
portable transaction is entered into by a
taxpayer). This notice provides additional
interim rules that will apply until further
guidance is issued and grants additional
transitional relief.
ADDITIONAL INTERIM PROVISIONS
1.Completion of Form 8264
Notice 2004–80 provides that each ma-
terial advisor required under § 6111, as
amended, to file a return with respect to a
reportable transaction must complete Parts
I (except item 1(b)), IV, and V of Form
8264. In completing Form 8264, the form
and instructions are to be read to apply,
by substituting: (1) “reportable transac-
tion” each place “tax shelter” or “confi-
dential corporate tax shelter” appears; (2)
“material advisor” each place “organizer”
or “principal organizer” appears; and (3)
“Date the material advisor became a mate-
rial advisor with respect to the reportable
transaction” in place of “Date an interest
in the tax shelter was first offered for sale”
in Part I, line 7, of the form.
Questions have arisen whether a ma-
terial advisor is required to modify the
Form 8264 by striking or replacing lines
or fields. A material advisor may not make
modifications to the Form 8264. A mate-
rial advisor must simply complete the form
as if it had been modified to read as de-
scribed in Notice 2004–80.
2.Material Advisors and Transitional
Relief
Notice 2004–80 provides that a mate-
rial advisor who is required to file a return
under § 6111 must file the return within
30 days after the date on which the per-
son becomes a material advisor. Notice
2004–80 provides that a material advisor
is defined in § 301.6112–1(c)(2). Notice
2004–80 also providesthat a material ad-
visor may file a single Form 8264 for sub-
stantially similar transactions. A material
advisor is required to supplement informa-
tion disclosed on Form 8264 if the infor-
mation provided is no longer accurate, or
if additional information that was not dis-
closed on Form 8264 becomes available.
Questions have arisen regarding when
a person becomes a material advisor. Sec-
tion 301.6112–1(c)(2) defines a material
advisor as a person who makes a tax state-
ment and receives or expects to receive a
minimum fee with respect to a reportable
transaction. Section301.6112–1(c)(2)(B)
provides that a material advisor includes a
person who makes a tax statement to or for
the benefit of a taxpayer who the potential
material advisor (at the time the transac-
tion is entered into) knows is or reasonably
expects to be required to disclose the trans-
action under § 1.6011–4.
Until further guidance is issued, a ma-
terial advisor will be treated as becoming
a material advisor under § 6111 when all
of the following events have occurred:
(1) the material advisor makes a tax state-
ment, (2) the material advisor receives
(or expects to receive) the minimum fees,
and (3) the transaction is entered into by
the taxpayer. Material advisors, including
those who cease providing services prior
to the time the transaction is entered into,
must make reasonable and good faith ef-
forts to determine whether the taxpayer
entered into the transaction.
Moreover, the time for providing dis-
closure as provided in Notice 2004–80 is
amended by this notice. Until further guid-
ance is issued, a material advisor will meet
its return filing obligation under § 6111 if
theForm8264isfiledbythelastdayof
the month that follows the end of the cal-
endar quarter in which the advisor became
a material advisor. Also, the transitional
relief provided in Notice 2004–80 and No-
tice 2005–17 for disclosure of a transaction
under § 6111 is extended. Accordingly, if
a person becomes a material advisor after
October 22, 2004, and on or before March
31, 2005, that material advisor must file
the return on or before April 30, 2005.
Once a material advisor has filed a
Form 8264 with respect to a transaction,
the material advisor is not required to file
an additional Form 8264 for each addi-
tional taxpayer that subsequently enters
into the same transaction or to file a Form
8264 for a separate transaction that is the
March 21, 20057562005–12 I.R.B.

same as or substantially similar to the
transaction for which the material advisor
has filed a Form 8264.
Questions also have arisen regard-
ing whether the tolling provisions of
§ 1.6011–4(f) would apply to requests
from a potential material advisor for a
letter ruling.Until further guidance is
issued, if the advisor submits a request
for a letter ruling on or before the date
thereturnunder§6111isdueandfully
discloses all relevant facts relating to the
transaction, the obligation of the potential
material advisor to disclose the transac-
tion will be suspended as provided in
§ 1.6011–4(f). However, a request for a
letter ruling by a potential material advisor
will not toll the disclosure provisions of
§ 1.6011–4 for taxpayers who participate
in the transaction. See § 1.6011–4(f) for
tolling provisions applicable to material
advisors and taxpayers.
Finally, questions have arisen regard-
ing the nature of the statement relating to
the financial accounting treatment of the
item(s) giving rise to a significant book-tax
difference describedin§1.6011–4(b)(6).
In addition, some practitioners have er-
roneously concluded that Notice 2004–80
was intended to exclude persons who do
not provide accounting advice. The fi-
nancial accounting statement described in
Notice 2004–80 includes statements made
by any material advisor, including accoun-
tants, lawyers, or investment advisors.
3.Effective Date of Notice 2004–80
Notice 2004–80 is effective for trans-
actions with respect to which material
aid, assistance, or advice is provided after
October 22, 2004. Questions have arisen
regarding the definition of material aid, as-
sistance, or advice provided after October
22, 2004. For purposes of the disclosure
required by § 6111, disclosure is required
for reportable transactions with respect
to which a material advisor makes a tax
statement (other than post-filing advice de-
scribed in § 301.6112–1(c)(2)(iv)(A)) after
October 22, 2004, regardless of whether
any portion of the fee was received before
October 22, 2004, or whether the transac-
tion was entered into before October 22,
2004. (For the timing of the disclosure,
see Section 2 of this notice, above.)
EFFECTIVE DATE
This notice is effective February 24,
2005, the date this notice was released to
the public.
EFFECT ON OTHER DOCUMENTS
This document clarifies and modifies
Notice 2004–80 and Notice 2005–17.
DRAFTING INFORMATION
The principal author of this notice
is Tara P. Volungis of the Office of the
Associate Chief Counsel (Passthroughs
& Special Industries).For further in-
formation regarding this notice, contact
Ms. Volungis at (202) 622–3080 (not a
toll-free call).
Modification of Notice 2005–4
Notice 2005–24
Section 1. PURPOSE
This notice modifies Notice 2005–4,
2005–2 I.R.B. 289, by extending the tran-
sitional rule related to sales of gasoline on
oil company credit cards and by making
several corrections to Notice 2005–4. No-
tice 2005–4 provides guidance on certain
excise tax provisions in the Internal Rev-
enue Code that were added or affected by
the American Jobs Creation Act of 2004
(Pub. L. 108–357) (Act).
Section 2. GASOLINE; SALES ON OIL
COMPANY CREDIT CARDS
Section 7 of Notice 2005–4 provides
guidance on § 6416(a)(4), as amended by
the Act. Section 7(a)(1)(ii) provides that
the pre-2005 rules relating to sales of gaso-
line to state and local governments and
nonprofit educational organizations on oil
company credit cards issued to those en-
tities will generally apply to sales before
March 1, 2005. The notice also states that
Congress may wish to address this issue
before March 1, 2005, and that Treasury
and the Service would assist Congress in
designing an administrable alternative.
In a February 25, 2005, letter to Trea-
sury, the chairman and ranking member
of the Finance Committee and the chair-
man of the Ways and Means Committee
noted that the conferees to the Act re-
moved language from the bill that would
have changed the administration of refund
claims for gasoline sales charged on a
credit card. They further noted that the
intent of the conferees in removing this
language was “to retain the pre-JOBS Act
treatment of these claims and not to ef-
fect any changes with respect to sales on
oil company credit cards.” The letter also
notes that, if Treasury concludes that a
technical correction is needed to preserve
the rules in effect prior to 2005, the sig-
natories “will facilitate the enactment of
such technical legislation at the earliest
opportunity.”
Treasury and the Service believe that it
would be appropriate to continue to apply
the oil company credit card rule until Con-
gress has had an opportunity to address the
issue. Accordingly, the oil company credit
card rule will remain in effect until mod-
ifiedbyastatutorychangeorbyfuture
guidance on this issue.
Section 3. CORRECTIONS TO NOTICE
2005–4
(a)Aviation-grade kerosene; certificate
for commercial aviation and exempt use.
In § 4(g)(2), which contains a model cer-
tificate for persons buying aviation-grade
kerosene for commercial aviation or non-
taxable use, “
for export;” is re-
moved from the list in the certificate
of possible uses of the aviation-grade
kerosene to which the certificate relates.
(b)Aviation-grade kerosene; claims by
registered ultimate vendors (nontaxable
uses)—(i) In § 4(h)(6)(ii), which contains
a model waiver for ultimate purchasers of
aviation-grade kerosene used in nontax-
able uses, “
for use on a farm for
farming purposes;” and “
for the ex-
clusive use of a state;” are removed from
the list in the waiver of possible uses of
the aviation-grade kerosene to which the
waiver relates. For rules relating to claims
by registered ultimate vendors of kerosene
(including aviation-grade kerosene) for
farming and state use, see § 48.6427–9
of the Manufacturers and Retailers Excise
Tax Regulations.
(ii) In § 4(h)(6)(ii), “
other non-
taxable use (Describe nontaxable use)
2005–12 I.R.B.757March 21, 2005

;” is added to the waiver immedi-
ately before the last item in the list of pos-
sible uses of the aviation-grade kerosene
to which the waiver relates.
(c)Gasoline; claims by registered ul-
timate vendors. In § 7(a)(1)(ii), first sen-
tence, the language “based on a price that
excludes the tax” is removed and “based
on a price that includes the tax” is added in
its place.
Section 4. EFFECT ON OTHER
DOCUMENTS
Notice 2005–4 is modified as described
in §§ 2 and 3 of this notice.
Section 5. EFFECTIVE DATE
This notice is effective January 1, 2005,
the effective date of Notice 2005–4.
Section 6. DRAFTING INFORMATION
The principal authors of this notice
are Susan Athy and Deborah Karet of the
Office of the Associate Chief Counsel
(Passthroughs and Special Industries). For
further information regarding this notice,
please contact Ms. Karet (concerning avi-
ation-grade kerosene) or Ms. Athy (con-
cerning all other issues) at (202) 622–3130
(not a toll-free call).
Weighted Average Interest
Rates Update
Notice 2005–26
This notice provides guidance as to the
corporate bond weighted average interest
rate and the permissible range of interest
rates specified under § 412(b)(5)(B)(ii)(II)
of the Internal Revenue Code.In ad-
dition, it provides guidance as to the
interest rate on 30-year Treasury securi-
ties under § 417(e)(3)(A)(ii)(II), and the
weighted average interest rate and permis-
sible ranges of interest rates based on the
30-year Treasury securities rate.
CORPORATE BOND WEIGHTED
AVERAGE INTEREST RATE
Sections 412(b)(5)(B)(ii) and 412(l)
(7)(C)(i), as amended by the Pension
Funding Equity Act of 2004, provide that
the interest rates used to calculate current
liability and to determine the required
contribution under § 412(l) for plan years
beginning in 2004 or 2005 must be within
a permissible range based on the weighted
average of the rates of interest on amounts
invested conservativelyinlongtermin-
vestment grade corporate bonds during the
4-year period ending on the last day before
the beginning of the plan year.
Notice 2004–34, 2004–18 I.R.B. 848,
provides guidelines for determining the
corporate bond weighted average interest
rate and the resulting permissible range
of interest rates used to calculate current
liability. That notice establishes that the
corporate bond weighted average is based
on the monthly composite corporate bond
rate derived from designated corporate
bond indices.
The composite corporate bond rate for
February 2005 is 5.36 percent. Pursuant
to Notice 2004–34, the Service has de-
termined this rate as the average of the
monthly yields for the included corporate
bond indices for that month.
The following corporate bond weighted
average interest rate was determined for
plan years beginning in the month shown
below.
For Plan Years
Corporate
Bond90% to 100%
Beginning in:WeightedPermissible
MonthYearAverageRange
March20056.035.43 to 6.03
30-YEAR TREASURY SECURITIES
WEIGHTED AVERAGE INTEREST
RATE
Section417(e)(3)(A)(ii)(II)defines
the applicable interest rate, which must
be used for purposes of determining the
minimum present value of a participant’s
benefit under § 417(e)(1) and (2), as the
annual rate of interest on 30-year Treasury
securities for the month before the date
of distribution or such other time as the
Secretary may by regulations prescribe.
Section 1.417(e)–1(d)(3) of the Income
Tax Regulations provides that the applica-
bleinterestrateforamonthistheannual
interest rate on 30-year Treasury securi-
ties as specified by the Commissioner for
that month in revenue rulings, notices or
other guidance published in the Internal
Revenue Bulletin.
Section 404(a)(1) of the Code, as
amended by the Pension Funding Eq-
uity Act of 2004, permits an employer
to elect to disregard subclause (II) of
§ 412(b)(5)(B)(ii) to determine the max-
imum amount of the deduction allowed
under § 404(a)(1).
The rate of interest on 30-year Treasury
securities for February 2005 is 4.55 per-
cent. Pursuant to Notice 2002–26, 2002–1
C.B. 743, the Service has determined this
rate as the monthly average of the daily de-
termination of yield on the 30-year Trea-
surybondmaturinginFebruary2031.
The following 30-year Treasury rates
were determined for the plan years begin-
ning in the month shown below.
March 21, 20057582005–12 I.R.B.

For Plan Years
30-Year
Treasury90% to 105%90% to 110%
Beginning in:WeightedPermissiblePermissible
MonthYearAverageRangeRange
March20055.064.55 to 5.314.55 to 5.57
Drafting Information
The principal authors of this notice
are Paul Stern and Tony Montanaro of
the Employee Plans, Tax Exempt and
Government Entities Division. For fur-
ther information regarding this notice,
please contact the Employee Plans’ tax-
payer assistance telephone service at
1–877–829–5500 (a toll-free number),
between the hours of 8:00 a.m.and
6:30 p.m. Eastern time, Monday through
Friday.Mr.Stern may be reached at
1–202–283–9703. Mr. Montanaro may
be reached at 1–202–283–9714. The tele-
phone numbers in the preceding sentences
are not toll-free.
26 CFR 601.105: Examination of returns and claims
for refund, credit, or abatement; determination of
correct tax liability.
(Also: Part I, §§ 280F; 1.280F–7.)
Rev. Proc. 2005–13
SECTION 1
. PURPOSE
01. This revenue procedure provides:
(1) limitations on depreciation deductions
for owners of passenger automobiles first
placed in service by the taxpayer during
calendar year 2005, including special ta-
bles of limitations on depreciation deduc-
tions for trucks and vans, and for passenger
automobiles designed to be propelled pri-
marily by electricity and built by an orig-
inal equipment manufacturer (electric au-
tomobiles); and (2) the amounts to be in-
cluded in income by lessees of passenger
automobiles first leased by the taxpayer
during calendar year 2005, including a sep-
arate table of inclusion amounts for lessees
of trucks and vans, and a separate table for
lessees of electric automobiles.
02. The tables detailing these depre-
ciation limitations and lessee inclusion
amounts reflect the automobile price infla-
tion adjustments required by § 280F(d)(7).
SECTION 2. BACKGROUND
01. For owner
s of passenger automo-
biles, § 280F
(a) imposes dollar limita-
tions on the d
epreciation deduction for
the year that
the passenger automobile is
placed in ser
vice by the taxpayer and each
succeeding
year. In the case of electric
automobile
s placed in service after Au-
gust 5, 1997
, and before January 1, 2007,
§280F(a)(1
)(C) requires tripling of these
limitatio
n amounts.Section 280F(d)(7)
requires t
he amounts allowable as depreci-
ation dedu
ctions to be increased by a price
inflation
adjustment amount for passenger
automobil
es placed in service after 1988.
The metho
d of calculating this price infla-
tion amou
nt for trucks and vans placed in
service i
n or after calendar year 2003 uses
adiffere
nt CPI "automobile component"
(the "new
trucks" component) than that
used in t
he price inflation amount cal-
culatio
n for other passenger automobiles
(the "ne
w cars" component), resulting in
somewha
t higher depreciation deductions
for truc
ks and vans. This change reflects
the hig
her rate of price inflation that trucks
and van
s have been subject to since 1988.
For pur
poses of this revenue procedure,
the ter
m "trucks and vans" refers to pas-
senge
r automobiles that are built on a truck
chass
is, including minivans and sport util-
ity ve
hicles (SUVs) that are built on a
truck
chassis.
02. Fo
r leased passenger automobiles,
§280F
(c) requires a reduction in the de-
ducti
on allowed to the lessee of the pas-
senge
r automobile. The reduction must be
subs
tantially equivalent to the limitations
on th
e depreciation deductions imposed on
owne
rs of passenger automobiles. Under
§1.2
80F–7(a), this reduction requires the
less
ees to include in gross income an in-
clu
sion amount determined by applying a
for
mula to the amount obtained from a ta-
ble
. There is a table for lessees of electric
aut
omobiles, a table for lessees of trucks
and
vans, and a table for all other passenger
aut
omobiles. Each table shows inclusion
am
ounts for a range of fair market values
for each tax year after the passenger auto-
mobile is first leased.
SECTION 3. SCOPE
01. The limitations on depreciation de-
ductions in section 4.02(2) of this revenue
procedure apply to passenger automobiles
(other than leased passenger automobiles)
that are placed in service by the taxpayer in
calendar year 2005, and continue to apply
for each tax year that the passenger auto-
mobile remains in service.
02. The tables in section 4.03 of this
revenue procedure apply to leased passen-
ger automobiles for which the lease term
begins during calendar year 2005. Lessees
of such passenger automobiles must use
these tables to determine the inclusion
amount for each tax year during which
the passenger automobile is leased. See
Rev. Proc. 2002–14, 2002–1 C.B. 450, for
passenger automobiles first leased before
January 1, 2003, Rev. Proc. 2003–75,
2003–2 C.B. 1018, for passenger auto-
mobiles first leased during calendar year
2003, and Rev. Proc. 2004–20, 2004–1
C.B. 642, for passenger automobiles first
leased during calendar year 2004.
SECTION 4. APPLICATION
01. In
General.
(1) Li
mitations on Depreciation Deduc-
tions
for Certain Automobiles. The limita-
tions
on depreciation deductions for pas-
senge
r automobiles placed in service by
the t
axpayer for the first time during calen-
dar y
ear 2005 are found in Tables 1 through
3ins
ection 4.02(2) of this revenue proce-
dure
. Table 1 of this revenue procedure
prov
ides limitations on depreciation de-
duct
ions for a passenger automobile. Table
2of
this revenue procedure provides lim-
ita
tions on depreciation deductions for a
tru
ck or van. Table 3 of this revenue proce-
dur
e provides limitations on depreciation
ded
uctions for an electric automobile.
(2)
Inclusions in Income of Lessees of
Pas
senger Automobiles. A taxpayer first
2005–12 I.R.B.759March 21, 2005

leasing a passenger automobile during cal-
endar year 2005 must determine the inclu-
sion amount that is added to gross income
using the tables in section 4.03 of this rev-
enue procedure. The inclusion amount is
determined using Table 4 in the case of a
passenger automobile (other than a truck,
van, or electric automobile), Table 5 in the
case of a truck or van, and Table 6 in the
case of an electric automobile. In addition,
the procedures of § 1.280F–7(a) must be
followed.
02. Limitations on Depreciation De-
ductions for Certain Automobiles.
(1) Amount of the Inflation Adjust-
ment.Under § 280F(d)(7)(B)(i), the
automobile price inflation adjustment
for any calendar year is the percentage
(if any) by which the CPI automobile
component for October of the preceding
calendar year exceeds the CPI automobile
component for October 1987. The term
"CPI automobile component" is defined
in § 280F(d)(7)(B)(ii) as the "automobile
component" of the Consumer Price Index
for all Urban Consumers published by the
Department of Labor (the CPI). The new
car component of the CPI was 115.2 for
October 1987 and 133.0 for October 2004.
The October 2004 index exceeded the Oc-
tober 1987 index by 17.8. The Service has,
therefore, determined that the automobile
price inflation adjustment for 2005 for
passenger automobiles (other than trucks
and vans) is 15.45 percent (17.8/115.2
x 100%). This adjustment is applicable
to all passenger automobiles (other than
trucks and vans) that are first placed in
service in calendar year 2005. The dollar
limitations in § 280F(a) must therefore
be multiplied by a factor of 0.1545, and
the resulting increases, after rounding to
the nearest $100, are added to the 1988
limitations to give the depreciation limita-
tions applicable to passenger automobiles
(other than trucks, vans, and electric au-
tomobiles) for calendar year 2005.To
determine the dollar limitations applicable
to an electric automobile first placed in
service during calendar year 2005, the dol-
lar limitations in § 280F(a) are tripled in
accordance with § 280F(a)(1)(C) and are
then multiplied by a factor of 0.1545; the
resulting increases, after rounding to the
nearest $100, are added to the tripled 1988
limitations to give the depreciation limita-
tions for calendar year 2005. To determine
the dollar limitations applicable to trucks
and vans first placed in service during cal-
endar year 2005, the new truck component
of the CPI is used instead of the new car
component.The new truck component
of the CPI was 112.4 for October 1987
and 143.1 for October 2004. The October
2004 index exceeded the October 1987
index by 30.7. The Service has, there-
fore, determined that the automobile price
inflation adjustment for 2005 for trucks
and vans is 27.31 percent (30.7/112.4 x
100%). This adjustment is applicable to
all trucks and vans that are first placed in
service in calendar year 2005. The dollar
limitations in § 280F(a) must therefore be
multiplied by a factor of 0.2731, and the
resulting increases, after rounding to the
nearest $100, are added to the 1988 limi-
tations to give the depreciation limitations
applicable to trucks and vans.
(2) Amount of the Limitation. For pas-
senger automobiles placed in service by
the taxpayer in calendar year 2005, Ta-
bles 1 through 3 contain the dollar amount
of the depreciation limitation for each tax
year. Use Table 1 for passenger automo-
biles placed in service by the taxpayer in
calendar year 2005. Use Table 2 for trucks
and vans placed in service by the taxpayer
in calendar year 2005. Use Table 3 for
electric automobiles placed in service by
the taxpayer in calendar year 2005.
REV. PROC. 2005–13 TABLE 1
DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES
PLACED IN SERVICE BY THE TAXPAYER DURING CALENDAR YEAR 2005
Ta x Ye a rA m o u n t
1st Tax Year
$2,960
2nd Tax Year
$4,700
3rd Tax Year
$2,850
Each Succeeding Year
$1,675
REV. PROC. 2005–13 TABLE 2
DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS
PLACED IN SERVICE BY THE TAXPAYER DURING CALENDAR YEAR 2005
Ta x Ye a rA m o u n t
1st Tax Year
$3,260
2nd Tax Year
$5,200
3rd Tax Year
$3,150
Each Succeeding Year
$1,875
March 21, 20057602005–12 I.R.B.

REV. PROC. 2005–13 TABLE 3
DEPRECIATION LIMITATIONS FOR ELECTRIC AUTOMOBILES
PLACED IN SERVICE BY THE TAXPAYER DURING CALENDAR YEAR 2005
Ta x Ye a rA m o u n t
1st Tax Year
$8,880
2nd Tax Year
$14,200
3rd Tax Year
$8,450
Each Succeeding Year
$5,125
03. Inclusions in Income of Lessees of
Passenger Automobiles.
The inclusion amounts for passenger
automobiles first leased in calendar year
2005 are calculated under the procedures
described in § 1.280F–7(a). Lessees of
passenger automobiles other than trucks,
vans, and electric automobiles should use
Table 4 of this revenue procedure in ap-
plying these procedures, while lessees of
trucks and vans should use Table 5 of this
revenue procedure andlessees of electric
automobiles should use Table 6 of this rev-
enue procedure.
REV. PROC. 2005–13 TABLE 4
DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES
(THAT ARE NOT TRUCKS, VANS, OR ELECTRIC AUTOMOBILES)
WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2005
Fair Market Value of Passenger
AutomobileTax Year During Lease
OverNot Over1st2nd3rd4th5th & Later
$15,200$15,500
3691113
15,50015,80049131719
15,80016,100512182226
16,10016,400715222732
16,40016,700818273239
16,70017,000921323844
17,00017,5001125384552
17,50018,0001430455463
18,00018,5001635526373
18,50019,0001840607283
19,00019,5002046678094
19,50020,00023507590104
20,00020,50025558299115
20,50021,000276189108125
21,00021,500306597117135
21,50022,0003270105125146
22,00023,0003578116139161
23,00024,0004088131156182
24,00025,0004498146175202
25,00026,00049108161192223
26,00027,00054118175211244
27,00028,00058128191228265
28,00029,00063138205247285
29,00030,00067149220264306
30,00031,00072159234283326
31,00032,00077168250300348
32,00033,00081179265318367
33,00034,00086189279336389
34,00035,00090199295354409
35,00036,00095209309372430
36,00037,00099219325389451
37,00038,000104229339408471
2005–12 I.R.B.761March 21, 2005

REV. PROC. 2005–13 TABLE 4
DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES
(THAT ARE NOT TRUCKS, VANS, OR ELECTRIC AUTOMOBILES)
WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2005
Fair Market Value of Passenger
AutomobileTax Year During Lease
OverNot Over1st2nd3rd4th5th & Later
38,00039,000109239354426491
39,00040,000113249370443512
40,00041,000118259384462533
41,00042,000122269400479554
42,00043,000127279414497575
43,00044,000132289429515595
44,00045,000136299444533616
45,00046,000141309459551636
46,00047,000145320473569657
47,00048,000150329489587678
48,00049,000154340504604699
49,00050,000159350518623719
50,00051,000164360533640740
51,00052,000168370548659760
52,00053,000173380563676781
53,00054,000177390578694802
54,00055,000182400593712823
55,00056,000186410609729844
56,00057,000191420623748864
57,00058,000196430638766884
58,00059,000200440653784905
59,00060,000205450668802925
60,00062,000212465691828957
62,00064,000221485721864998
64,00066,0002305067509001,039
66,00068,0002395267809351,081
68,00070,0002485468109711,123
70,00072,0002585668391,0081,163
72,00074,0002675868691,0441,204
74,00076,0002766068991,0791,247
76,00078,0002856269301,1141,288
78,00080,0002946469601,1501,329
80,00085,0003106821,0111,2131,402
85,00090,0003337321,0861,3031,504
90,00095,0003567821,1611,3921,608
95,000100,0003798321,2361,4811,712
100,000110,0004139081,3471,6161,867
110,000120,0004591,0091,4961,7952,073
120,000130,0005051,1091,6461,9742,280
130,000140,0005511,2101,7952,1532,486
140,000150,0005971,3101,9452,3322,693
150,000160,0006421,4112,0942,5112,900
160,000170,0006881,5122,2432,6903,106
170,000180,0007341,6122,3922,8703,313
180,000190,0007801,7132,5413,0483,520
190,000200,0008261,8132,6913,2273,727
200,000210,0008711,9142,8403,4073,933
210,000220,0009172,0152,9893,5854,141
220,000230,0009632,1153,1393,7644,347
230,000240,0001,0092,2163,2883,9434,554
240,000and up1,0552,3163,4374,1234,760
March 21, 20057622005–12 I.R.B.

REV. PROC. 2005–13 TABLE 5
DOLLAR AMOUNTS FOR TRUCKS AND VANS
WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2005
Fair Market Value of Truck or VanTax Year During Lease
OverNot Over1st2nd3rd4th5th and Later
$16,700$17,000
3681011
17,00017,500410141720
17,50018,000715212630
18,00018,500920293540
18,50019,0001125374351
19,00019,5001430445261
19,50020,0001635516271
20,00020,5001840597181
20,50021,0002045677992
21,00021,50023507488103
21,50022,00025558198113
22,00023,000286392111129
23,00024,0003373107129149
24,00025,0003883122147169
25,00026,0004293137165190
26,00027,00047103152183210
27,00028,00051113167201231
28,00029,00056123182218253
29,00030,00060133197237272
30,00031,00065143212254294
31,00032,00070153227272314
32,00033,00074163242290335
33,00034,00079173257308355
34,00035,00083184271326376
35,00036,00088193287344397
36,00037,00093203302361418
37,00038,00097214316380438
38,00039,000102223332397459
39,00040,000106234346415480
40,00041,000111244361433500
41,00042,000115254376451521
42,00043,000120264391469542
43,00044,000125274406487562
44,00045,000129284421505583
45,00046,000134294436523603
46,00047,000138304451541624
47,00048,000143314466558645
48,00049,000148324481576666
49,00050,000152334496594687
50,00051,000157344511612707
51,00052,000161355525630728
52,00053,000166364541648748
53,00054,000170375555666769
54,00055,000175385570684789
55,00056,000180394586701811
56,00057,000184405600720830
57,00058,000189415615737852
58,00059,000193425630755873
59,00060,000198435645773893
60,00062,000205450667800924
62,00064,000214470697836966
64,00066,0002234907278721,007
66,00068,0002325107579081,048
68,00070,0002415317869441,089
70,00072,0002515508179791,131
2005–12 I.R.B.763March 21, 2005

REV. PROC. 2005–13 TABLE 5
DOLLAR AMOUNTS FOR TRUCKS AND VANS
WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2005
Fair Market Value of Truck or VanTax Year During Lease
OverNot Over1st2nd3rd4th5th and Later
72,00074,0002605718461,0151,172
74,00076,0002695918761,0511,213
76,00078,0002786119061,0871,254
78,00080,0002876319361,1231,296
80,00085,0003036669891,1851,368
85,00090,0003267171,0631,2741,472
90,00095,0003497671,1371,3651,575
95,000100,0003728171,2121,4541,678
100,000110,0004068931,3241,5881,833
110,000120,0004529931,4741,7672,040
120,000130,0004981,0941,6231,9452,247
130,000140,0005441,1941,7722,1252,454
140,000150,0005901,2951,9212,3042,660
150,000160,0006361,3952,0712,4832,867
160,000170,0006811,4962,2202,6623,074
170,000180,0007271,5972,3692,8413,281
180,000190,0007731,6972,5193,0203,487
190,000200,0008191,7982,6683,1993,694
200,000210,0008651,8982,8173,3793,900
210,000220,0009101,9992,9673,5574,107
220,000230,0009562,1003,1153,7374,314
230,000240,0001,0022,2003,2653,9164,520
240,000and up1,0482,3013,4144,0944,728
REV. PROC. 2005–13 TABLE 6
DOLLAR AMOUNTS FOR ELECTRIC AUTOMOBILES
WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2005
Fair Market Value of Electric
AutomobileTax Year During Lease
OverNot Over1st2nd3rd4th5th and Later
$45,000$46,000
5111821 25
46,00047,0001021333945
47,00048,0001431485766
48,00049,0001941637586
49,00050,00023527793107
50,00051,000286193111127
51,00052,0003371108129148
52,00053,0003782122147169
53,00054,0004292137164190
54,00055,00046102152183210
55,00056,00051112167200231
56,00057,00055122182218252
57,00058,00060132197236272
58,00059,00065142212254293
59,00060,00069152227272314
60,00062,00076167250298345
62,00064,00085187280334386
64,00066,00094208309370427
66,00068,000104227339406469
68,00070,000113247369442510
70,00072,000122268398478551
72,00074,000131288428514593
March 21, 20057642005–12 I.R.B.

REV. PROC. 2005–13 TABLE 6
DOLLAR AMOUNTS FOR ELECTRIC AUTOMOBILES
WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2005
Fair Market Value of Electric
AutomobileTax Year During Lease
OverNot Over1st2nd3rd4th5th and Later
74,00076,000140308458550634
76,00078,000149328489585675
78,00080,000159348518621717
80,00085,000175383571683789
85,00090,000197434645773892
90,00095,000220484720863995
95,000100,0002435347959521,099
100,000110,0002786109061,0861,254
110,000120,0003237111,0551,2661,460
120,000130,0003698111,2051,4441,668
130,000140,0004159121,3541,6231,874
140,000150,0004611,0121,5041,8022,081
150,000160,0005071,1131,6521,9822,287
160,000170,0005531,2131,8022,1612,494
170,000180,0005981,3141,9512,3402,701
180,000190,0006441,4152,1002,5192,908
190,000200,0006901,5152,2502,6983,114
200,000210,0007361,6162,3992,8773,321
210,000220,0007821,7162,5493,0553,528
220,000230,0008271,8172,6983,2353,734
230,000240,0008731,9182,8473,4133,942
240,000and up9192,0182,9973,5924,148
SECTION 5. EFFECTIVE DATE
This r
evenue procedure applies to pas-
senge
r automobiles (other than leased pas-
senge
r automobiles) that are first placed
in se
rvice by the taxpayer during calendar
year
2005, and to leased passenger auto-
mobi
les that are first leased by the taxpayer
duri
ng calendar year 2005.
SECTION 6. DRAFTING
INFORMATION
The pr
incipal author of this rev-
enue p
rocedure is Bernard P. Harvey
of th
e Office of Associate Chief Counsel
(Pas
sthroughs & SpecialIndustries). For
furt
her information regarding the depre-
ciat
ion limitations and lessee inclusion
amounts in this revenue procedure, con-
tact Bernard P. Harvey at (202) 622–3110
(not a toll-free call).
2005–12 I.R.B.765March 21, 2005

Part IV. Items of General Interest
Announcement of Disciplinary Actions Involving
Attorneys, Certified Public Accountants, Enrolled Agents,
and Enrolled Actuaries — Suspensions, Censures,
Disbarments, and Resignations
Announcement 2005-15
Under Title 31, Code of Federal Regu-
lations, Part 10, attorneys, certified public
accountants, enrolled agents, and enrolled
actuaries may not accept assistance from,
or assist, any person who is under disbar-
ment or suspension from practice before
the Internal Revenue Service if the assis-
tance relates to a matter constituting prac-
tice before the Internal Revenue Service
and may not knowingly aid or abet another
person to practice before the Internal Rev-
enue Service during a period of suspen-
sion, disbarment, or ineligibility of such
other person.
To enable attorneys, certified public
accountants, enrolled agents, and enrolled
actuaries to identify persons to whom
these restrictions apply, the Director, Of-
fice of Professional Responsibility, will
announce in the Internal Revenue Bulletin
their names, their city and state, their pro-
fessional designation, the effective date
of disciplinary action, and the period of
suspension. This announcement will ap-
pear in the weekly Bulletin at the earliest
practicable date after such action and will
continue to appear in the weekly Bulletins
for five successive weeks.
Consent Disbarments From Practice Before the Internal
Revenue Service
Under Title 31, Code of Federal Regu-
lations, Part 10, an attorney, certified pub-
lic accountant, enrolled agent, or enrolled
actuary, in order to avoid institution or con-
clusion of a proceeding for his or her dis-
barment or suspension from practice be-
fore the Internal Revenue Service, may of-
fer his or her consent to disbarment from
such practice. The Director, Office of Pro-
fessional Responsibility, in his discretion,
may disbar an attorney, certified public ac-
countant, enrolled agent or enrolled actu-
ary in accordance with the consent offered.
The following individuals have been
placed under consent disbarment from
practice before the Internal Revenue Ser-
vice:
NameAddressDesignationDate of Disbarment
O’Connell, Anthony G.Revere, MACPAIndefinite
from
January 5, 2005
March 21, 20057662005–12 I.R.B.

Suspensions From Practice Before the Internal Revenue
Service After Notice and an Opportunity for a Proceeding
Under Title 31, Code of Federal Reg-
ulations, Part 10, after notice and an op-
portunity for a proceeding before an ad-
ministrative law judge, the following indi-
viduals have been placed under suspension
from practice before the Internal Revenue
Service:
NameAddressDesignationEffective Date
McCarthy III, William P.Sacramento, CAEnrolled AgentSeptember 12, 2004
to
March 10, 2006
Deen, Mae T.Salinas, CAEnrolled AgentOctober 18, 2004
to
April 16, 2006
Adams Jr., Joseph T.Philadelphia,PAEnrolled AgentDecember 1, 2004
to
May 29, 2006
Consent Suspensions From Practice Before the Internal
Revenue Service
Under Title 31, Code of Federal Regu-
lations, Part 10, an attorney, certified pub-
lic accountant, enrolled agent, or enrolled
actuary, in order to avoid institution or con-
clusion of a proceeding for his or her dis-
barment or suspension from practice be-
fore the Internal Revenue Service, may of-
fer his or her consent to suspension from
such practice. The Director, Office of Pro-
fessional Responsibility, in his discretion,
may suspend an attorney, certified public
accountant, enrolled agent or enrolled ac-
tuary in accordance with the consent of-
fered.
The following individuals have been
placed under consent suspension from
practice before the Internal Revenue Ser-
vice:
NameAddressDesignationDate of Suspension
Cornelius, Gerald K.Ventura,CAEnrolled AgentIndefinite
from
September 15, 2004
Janus, Stephen E.Michigan City, INCPAIndefinite
from
October 25, 2004
Arotsky, Marvin A.New Haven, CTCPAIndefinite
from
December 1, 2004
Penta, RichardHamilton, MACPAIndefinite
from
January 1, 2005
2005–12 I.R.B.767March 21, 2005

NameAddressDesignationDate of Suspension
Bedell, Michael F.Ridge, NYCPAIndefinite
from
January 7, 2005
Nussbaum, JerroldAnnapolis, MDAttorneyIndefinite
from
April 15, 2005
Expedited Suspensions From Practice Before the Internal
Revenue Service
Under Title 31, Code of Federal Regu-
lations, Part 10, the Director, Office of Pro-
fessional Responsibility, is authorized to
immediately suspend from practice before
the Internal RevenueService any practi-
tioner who, within five years from the date
the expedited proceeding is instituted (1)
has had a license to practice as an attor-
ney, certified public accountant, or actuary
suspended or revoked for cause or (2) has
been convicted of certain crimes.
The following individuals have been
placed under suspension from practice be-
fore the Internal Revenue Service by virtue
of the expedited proceeding provisions:
NameAddressDesignationDate of Suspension
Whitworth, Douglas D.Houston, TXCPAIndefinite
from
October 28, 2004
Lindberg, William D.Costa Mesa, CACPAIndefinite
from
November 4, 2004
Tompkins, Thomas M.Chickasaw, ALAttorneyIndefinite
from
November 4, 2004
Peterson Jr., Theodore ECharlotte, NCCPAIndefinite
from
November 4, 2004
Gassiott, William E.Cypress, TXCPAIndefinite
from
November 4, 2004
Wagar Jr., John E.Lafayette, LAAttorneyIndefinite
from
November 9, 2004
Fiore, Owen G.Kooskia, IDAttorneyIndefinite
from
November 30, 2004
O’Keefe, Michael H.Beaumont, TXAttorneyIndefinite
from
November 30, 2004
Ivker, Richard N.Waltham, MAAttorneyIndefinite
from
November 30, 2004
March 21, 20057682005–12 I.R.B.

NameAddressDesignationDate of Suspension
Jones, Edwin A.Robards,KYAttorneyIndefinite
from
November 30, 2004
Landis, John C.Drexel Hill, PAAttorneyIndefinite
from
November 30, 2004
Cushman, Christopher A.Kansas City, MOAttorneyIndefinite
from
November 30, 2004
Weiner, Alan S.Rockville, MDAttorneyIndefinite
from
November 30, 2004
Virdone, Peter P.Kailua, HICPAIndefinite
from
November 30, 2004
Doherty, Paul M.N. Billerica, MAAttorneyIndefinite
from
December 3, 2004
Carney, Kevin F.Woburn, MAAttorneyIndefinite
from
December 3, 2004
Greiner, ThomasCleveland, OHAttorneyIndefinite
from
December 8, 2004
Wertis, Richard L.Garden City, NYAttorneyIndefinite
from
December 10, 2004
Southerland, Harry L.Raeford, NCAttorneyIndefinite
from
December 10, 2004
Chestnutt, A. JohnsonFayetteville, NCCPAIndefinite
from
December 13, 2004
Heald, Arthur A.Saint Albans, VTAttorneyIndefinite
from
December 10, 2004
Culliton, James M.Santa Clarita, CAAttorneyIndefinite
from
December 15, 2004
Juarez, Michael G.Douglas,AZAttorneyIndefinite
from
December 15, 2004
Clark, Carroll A.Mesa, AZAttorneyIndefinite
from
December 15, 2004
2005–12 I.R.B.769March 21, 2005

NameAddressDesignationDate of Suspension
Creque, George AWillow Springs, CAAttorneyIndefinite
from
December 15, 2004
Younts, Roger W.Lexington, NCCPAIndefinite
from
December 15, 2004
Kluge, David R.Sheridan, ORAttorneyIndefinite
from
December 15, 2004
Fanaras, Andrew R.Haverhill, MAAttorneyIndefinite
from
December 15, 2004
Murphy, Patrick B.Alhambra, CAAttorneyIndefinite
from
December 20, 2004
Mills, Stuart B.Pender, NEAttorneyIndefinite
from
December 20, 2004
North, Gerald D.W.Chicago, ILAttorneyIndefinite
from
December 20, 2004
Nickel, Warren J.Tinley Park, ILAttorneyIndefinite
from
December 20, 2004
Gray, Douglas C.Dover, NHAttorneyIndefinite
from
December 20, 2004
Emmons, Kyle D.Columbia, MOAttorneyIndefinite
from
December 20, 2004
Velella, Guy J.Bronx, NYAttorneyIndefinite
from
December 30, 2004
Ginn, Jeffrey S.Lexington, KYCPAIndefinite
from
January 25, 2005
Grenrood Jr., BernardWest Monroe, LAAttorneyIndefinite
from
January 25, 2005
Tehin Jr., NikolaiSan Francisco, CAAttorneyIndefinite
from
January 25, 2005
Kemper, Morris B.Alameda, CAAttorneyIndefinite
from
January 25, 2005
Harrison, John S.Oakland, CAAttorneyIndefinite
from
January 25, 2005
March 21, 20057702005–12 I.R.B.

NameAddressDesignationDate of Suspension
Mangurten, Irvin B.Buffalo Grove, ILCPAIndefinite
from
January 27, 2005
Zivin, Mitchell W.Long Grove, ILAttorneyIndefinite
from
February 7, 2005
Zdon, John N.Chicago, ILAttorneyIndefinite
from
February 7, 2005
Lokietz, David S.Mount Dora, FLCPAIndefinite
from
February 7, 2005
Heldrich Jr., Gerard C.Lincolnshire, ILAttorneyIndefinite
from
February 7, 2005
Whitaker, Paul M.Albany,NYAttorneyIndefinite
from
February 18, 2005
Blake, Linda D.Bellvale,NYAttorneyIndefinite
from
February 18, 2005
Smith, H. PaulSan Antonio, TXAttorneyIndefinite
from
February 18, 2005
Atwood, Adina A.Ardmore, OKAttorneyIndefinite
from
February 18, 2005
Sablone Jr., Francis R.Old Lyme, CTAttorneyIndefinite
from
February 18, 2005
Phelps, S. DonOlympia, WAAttorneyIndefinite
from
February 18, 2005
Davidson, FrazierBronx, NYAttorneyIndefinite
from
February 18, 2005
2005–12 I.R.B.771March 21, 2005

Censure Issued by Consent
Under Title 31, Code of Federal Reg-
ulations, Part 10, in lieu of a proceeding
being instituted or continued, an attorney,
certified public accountant, enrolled agent,
or enrolled actuary, may offer his or her
consent to the issuance of a censure. Cen-
sure is a public reprimand.
The following individuals have con-
sented to the issuance of a Censure:
NameAddressDesignationDate of Censure
Dorris, Virginia A.Bradenton, FLEnrolled AgentDecember 14, 2004
Mackey, Glen N.Roanoke, VAAttorneyDecember 21, 2004
Foundations Status of Certain
Organizations
Announcement 2005–20
The following organizations have failed
to establish or have been unable to main-
tain their status as public charities or as op-
erating foundations. Accordingly, grantors
and contributors may not, after this date,
rely on previous rulings or designations
in the Cumulative List of Organizations
(Publication 78), or on the presumption
arising from the filing of notices under sec-
tion 508(b) of the Code. This listing does
notindicate that the organizations have lost
their status as organizations described in
section 501(c)(3), eligible to receive de-
ductible contributions.
Former Public Charities.The follow-
ing organizations (which have been treated
as organizations thatare not private foun-
dations described in section 509(a) of the
Code) are now classified as private foun-
dations:
11th Hour Dance Company, Napa, CA
223 Freedom and Mutual Aid Center,
Portland, OR
5400 Justine Block Club, Chicago, IL
14000 Environmental Management
Foundation, Los Angeles, CA
Academics Through Athletics Foundation,
Westlake Village, CA
Actors Theatre of Minneapolis
Foundation, Fort Myers, FL
Aesthetica Community Services, Inc.,
Honolulu, HI
African American Communiversal
Project, Country Club Hills, IL
African American Women Against Aids,
Duncanville, TX
Agape Care Foundation, Inc.,
Los Angeles, CA
Agricultural Access, Ventura, CA
All-For-One JHD Public Advocates of
Florida, Inc., Cape Coral, FL
Aloha Lokahi Association, Pahoa, HI
American Armenian Cultural Foundation,
Glendale, CA
American Bobsled Club,
Salt Lake City, UT
American Budget and Credit Counseling,
Inc., New Orleans, LA
American Health Awareness Team, Inc.,
Santa Monica, CA
American Health Ministries,
Los Angeles, CA
American Paddlesport Association, Inc.,
New York, NY
Angels of Mercy, Las Vegas, NV
Annete M. Cutter Aviation Scholarship
Fund, La Verne, CA
Anomalous Phenomena Research Center,
Ltd., New York, NY
Anthropology Channel, Inc.,
Los Angeles, CA
Apple of His Eye, Los Angeles, CA
Arbor Lakes Senior Housing,
St. Paul, MN
Arizona Family Assistance Fund,
Scottsdale, AZ
Arroyo Vista Resident Council, Inc.,
Dublin, CA
Asialink Foundation, Oakland, CA
Association of Latinos With Asthma and
Allergy Symptoms, Los Angeles, CA
AWAA-TE Productions,
San Francisco, CA
Axios Institute, Mount Jackson, VA
Basic Instructions in Building Living &
Empowerment, Los Angeles, CA
Bay Area Genesis Company, Fremont, CA
Bay Area Youth Sports, Inc.,
Castro Valley, CA
Bell Gardens Youth Football and Cheer
Association, Bell Gardens, CA
Benefits Management Corporation,
Citrus Heights, CA
Benevolent & Protective Order
of Elks Scholarship Assn. 317,
Port Townsend, WA
Beulah Hubbard Community and
Development Club, Inc., Union, MS
Beverly Hills Pact, Los Angeles, CA
Biblical Arts Masterworks, Torrance, CA
Birch Community Service, Inc.,
Gardena, CA
Bircher Community Service, Inc.,
Inglewood, CA
Birthwright Foundation, Palmdale, CA
Blessed Enterprises, Inc., Spring, TX
Brian K. Shaw Foundation,
Los Angeles, CA
Bridge Street Development Corporation,
Paterson, NJ
Broken Angel Animal Rescue,
Beverly Hills, CA
Building A Better World Foundation, Inc.,
Warner Robins, GA
California Association of Drug Court
Professionals, Los Angeles, CA
California Basketball Officials
Association - South Bay Unit,
Redondo Beach, CA
California-Beijing International Cultural
Study Society, Alhambra, CA
California Co-Housing Corporation,
Oakland, CA
March 21, 20057722005–12 I.R.B.

California Conductive Education
Foundation, Beverly Hills, CA
California Overeaters Annonymous —
How Intergroup, Los Angeles, CA
Carrington Foundation for Public Art,
Fairfield, CA
Caspers Park Preservation Foundation,
Irvine, CA
Celebration of Texas Independence Day,
Inc., Austin, TX
Center for Academic Research and
Programs for International Universities
in Germany, Westerville, OH
Center for Achievement Motivation
and Physical Development, Inc.,
Woodland Hills, CA
Center for Adolescent Stress On-Line,
Inc., Santa Monica, CA
Center for Caring Education, Portland, ME
Center for Family Life at Spiritwind, Inc.,
Rochester, NY
Children Center for Creative
Development, Diamond Bar, CA
Childrens Cancer Awareness Projects,
Chino Hills, CA
Childrens Cast a Line Foundation,
Woodland Hills, CA
Chinese American Bilingual
Education Alliance, Incorporated,
San Francisco, CA
Chinese American Civil Rights
Organization, Monterey, CA
Christian Leadership Exchange, Inc.,
Arcadia, CA
Christian Research Child Care
Association, Lancaster, CA
Come and Dine Ministries, Inc.,
Adelphi, MD
Comite De Beneficencia Guatemalteco,
Los Angeles, CA
Community Education Resources for
Handicapped MR MI, Dayton, OH
Community Housing Assistance and
Management Project, Houston, TX
Community Housing Restoration,
Los Angeles, CA
Comnec, Incorporated, Inglewood, CA
Consortium on Renewing Education, Inc.,
Sacramento, CA
Cora L. Jacobs Hospice, Long Beach, CA
Cornerstone Christian Counseling
Ministries, Blaine, WA
Creating Hopeful Opportunities Increases
Children’s Educational Success, Inc.,
Inglewood, CA
Crest Ministries, Inc., Pensacola, FL
Crimefight USA, Baldwin, Park, CA
Cultural Learning Educational
Organization, Los Angeles, CA
Cumberland Housing Alliance, Inc.,
Cumberland, MD
Cyber Kids Corp., Huntington Park, CA
Daddy Loves His Girls, Inc.,
Memphis, TN
Dade County Community Theater Co.,
Greenfield, MO
Ddang-Keut Gospel Mission Center,
Temple City, CA
Delphic Games, Berlin, Germany
Doin the Stuff, Yorba, CA
Dollar Bay-Tamarack City Area Schools
Foundation, Inc., Dollar Bay, MI
Door of Hope Foundation, Whittier, CA
Doris&FrancisWhiteLyonsClub
Community Center, Woodlake, CA
Earth Vision Foundation, Inc.,
Makawao, HI
East Bay Cambodian Council,
Oakland, CA
Eastern Tradition Research Institute,
Cotopaxi, CO
Ebisoa Scholarship Fund, Inc.,
San Francisco, CA
ECO Bolivia USA, Coral Gables, FL
Edgewood Transitional Living Center,
Los Angeles, CA
Educational Center for the Prevention
of Drug & Alcohol Abuse,
Santa Clarita, CA
E K T Community Development
Corporation, Rocky Mount, NC
El Shaddai Enterprises, Inc./Lamb of God
Productions, Inc., Jonesboro, GA
Eli Meleki Community Services, Inc.,
Houston, TX
Elisabeth Leustig Memorial Fund, Inc.,
Los Angeles, CA
Empowering, Inc., Spokane, WA
Environmental Justice Resource Network,
Los Angeles, CA
Ephesus Outreach Ministries, Inc.,
Oklahoma City, OK
Evans Community Service, Inc.,
Gardena, CA
Excelsior Youth Club, Inc.,
San Francisco, CA
Fair Housing Institute, Los Angeles, CA
Faithworks of Newton County, Inc.,
Morocco, IN
Families of National Tragedies,
Issaquah, WA
Father Francis Homeless Project,
San Francisco, CA
Fatow Ministries, Inc., Knoxville, TN
Floyd County Child Abuse Prevention
Council, Charles City, IA
FM Families for Effective Autism
Treatment, Fargo, ND
Focus Institute of Film, Beverly Hills, CA
Follow Your Heart Foundation,
Malibu, CA
Foundation for Disaster Relief,
Los Angeles, CA
Foundation for Underprivileged Youth,
Oakland, CA
Foundation for Urban Living,
Altadena, CA
Foundation of Creative Art,
Culver City, CA
Fresh Start Foundation, Inc.,
Hawthorne, CA
Friends of Animal Care, Inc.,
Plantation, FL
Friends of John Durkan Leukaemia Trust
Fund, Inc., Boston, MA
Friends of the Democratic Republic of
Congo, Naperville, IL
Friends of the Nature Center,
Farmington, NM
Fun Times of Lane County, Inc.,
Eugene, OR
Future Opportunities, Inc.,
San Antonio, TX
Gag Taggers, Inc., Los Angeles, CA
Garland Appeal, Pittsburgh, PA
Gift From Gabi Foundation, Inc.,
Hicksville, NY
Glades Youth Panthers, Inc.,
Belle Glades, FL
Global Environment Clean-up,
Oakland, CA
Global Outreach Ministries, Orange, CA
Global Spectrum the Urban Group,
La Puente, CA
Godfrey B. Johnson Foundation,
Granada Hills, CA
Good News for You, Honolulu, HI
Grace Christian College & Theological
Seminary, Los Angeles, CA
Grand Vision Foundation, San Pedro, CA
Grandville’s Care Home, Gainesville, FL
Greater Austin International Coalition,
Austin, TX
Greater Los Angeles Valley Arts Council,
Winnetka, CA
HDrewChildrensCenter,Inc.,
Oakland, CA
H-M and E Residential Homes,
Los Angeles, CA
HA Mifgash Corporation,
Los Angeles, CA
Hanmi Christian Life, Arleta, CA
2005–12 I.R.B.773March 21, 2005

Hanmi Jonah Mission, Los Angeles, CA
Harmony Matters Collective,
Los Angeles, CA
Hawaii Gymnastics Foundation, Inc.,
Los Gatos, CA
Hawaiian Reforestation Program,
Kula, HI
Help for Tomorrow, Studio City, CA
Herstory Project, Los Angeles, CA
Higher Calling Ministry, Inc., Dallas, TX
Hilo Residency Training Program, Inc.,
Hilo, HI
Historic Core Community Development
Corporation, Los Angeles, CA
Hollywood Education & Literacy Project
Boston, Inc., Dorchester, MA
Hollywood Westside Film Commission,
Los Angeles, CA
Home International School, Fullerton, CA
Hoomana Iowi, Honolulu, HI
Hoover Seniors, Inglewood, CA
Hope in Christ Ministries, Inc.,
Jacksonville, FL
Hunter Institute for the Preservation of
Native Culture & Art, Honolulu, HI
Imagine Tomorrow Education Foundation,
Inc., Basking Ridge, NJ
Imani House, Berkley, CA
Immanuel Grace Mission Crusade,
Garden Grove, CA
Indian Nation Film Council,
Los Angeles, CA
Infrastructure Development for Education,
Los Angeles, CA
Inglewood Boys & Girls Club, Inc.,
Inglewood, CA
Insights to Success, Inc., Honolulu, HI
Institute for Integrative and Energy
Medicine, Cambridge, MA
Intercontinental Transplant Center
Foundation, Lake Forest, IL
Interfaith Peace Fellowship,
Los Angeles, CA
International Consortium for Business
and Education, Inc., Los Angeles, CA
International Donations Foundation,
Incorporated, Azusa, CA
International Entrepreneur Network, Inc.,
Lima, OH
International Foundation of Education
and Performing Arts, Los Angeles, CA
International Law Foundation,
Honolulu, HI
International Life Saving, Sacramento, CA
International Network for Cancer
Treatment and Research USA, Inc.,
New York, NY
International Pain Research and Treatment
Foundation, Inc., Brooklyn, NY
Invictors W E D Corporation,
Los Angeles, CA
Ironworkers Local 25 Retirees Club
Scholarship Fund, Novi, MI
It’s a Kids World, San Francisco, CA
Jons Community Service, Inc.,
Compton, CA
Jubiliee House, Riverside, CA
Justice for Athletes, Los Angeles, CA
Kahekili Terrace Resident Association,
Wailuku, HI
Kailua Senior Citizens Club, Kailua, HI
Kalama Boards & Blades Association,
Paia Maui, HI
Kankakee Valley Park Foundation,
Kankakee, IL
Kapuna Laau Lapaau O Hawaii, Hilo, HI
Kaw Valley Bluebird Association,
Lawrence, KS
Keauea Foundation, Kamuela, HI
Kids International Communication
Foundation, Valencia, CA
Kin Awareness Foundation,
Long Beach, CA
King County EOC Support Team,
Redmond, CA
Korean American Education Foundation,
Los Angeles, CA
KTS Management Consultants, Inc.,
Casselberry, FL
Kun Shin Dancers, Saratoga, CA
L A Youth Academy of Performing Arts,
Culver City, CA
La Canada Field Sports Coalition,
La Canada, CA
La Taillede-USA, Durham, NH
Labor Defense Network, Los Angeles, CA
Lake Oswego International Equestrian
Center, Incorporated, Lake Oswego, OR
Landfill Alternatives Save Environmental
Resources, Newhall, CA
Lao Senior Association, Inc.,
Richmond, CA
League of African American Voters,
Oakland, CA
Life Changes Development Corporation,
Detroit, MI
Life Enrichment Services, Beckley, WV
Life Paradigms, Inc., Phoenix, AZ
Liga Contra El Cancer USA,
Los Angeles, CA
Link Youth Alliance, Newport, RI
Living Independently Through Education,
La Crescenta, CA
Living Ocean Foundation, Daly City, CA
Logos Interactive, Fremont, CA
Los Angeles Dental Society Foundation,
Tustin, CA
Love is for Everyone, Inc.,
Los Angeles, CA
Loyola State University Foundation,
Itasca, IL
LSE International, Inc.,
South Pasadena, CA
Lyre Association of North America, Inc.,
Copake, NY
Main Street Inglewood, Inglewood, CA
Marcella L. Hamar Scholarship,
Dollar Bay, MI
Maui Music Festival, Wailuku, HI
Maywood Lions Bob Smith Memorial
Foundation, Anaheim, CA
Medfly Brigade Basenji Rescue, Inc.,
Los Angeles, CA
Meherrin Development Corp., Inc.,
Petersburg, VA
Mennonite Disaster Services of Florida,
Inc., Sarasota, FL
Menorah Foundation, Los Angeles, CA
Messiah Integrated Health Care, Inc.,
Los Angeles, CA
Metropolitan Community Charities,
W. Hollywood, CA
Mexican-American National
Organization, El Macero, CA
Mill Valley Music Festival, Inc.,
Mill Valley, CA
Millennium Foundation, Inc.,
Baton Rouge, LA
Mindmender, Inc., Douglasville, GA
Mission Media Ministries,
Willow Grove, PA
Missionary Work to China Mission,
Mar Vista, CA
Mitchell Butler Foundation,
Los Angeles, CA
Moose Project, Chicago, IL
Mountcliff Community Association,
Los Angeles, CA
Multicultural Education Network,
Sherman Oaks, CA
Multicultural Organization for
Neighborhood Arts, Santa Monica, CA
Na Pali Coast Ohana, Lihue Kauai, HI
Namesail, Hilo, HI
National Council for Taekwondo Masters
Certification, Los Angeles, CA
National Football League Retired Players
Foundation, Laguna Hills, CA
National Historic Aircraft Foundation,
McLean, VA
Native Hawaiian Fishermans Association,
Honolulu, HI
March 21, 20057742005–12 I.R.B.

Native Resources Developer, Inc.,
Pago Pago, AS
Nayong Pilipinas, Los Angeles, CA
Neighborhood Foundation, Inc.,
Inglewood, CA
Never Forgotten, Incorporated,
Fairfield, CA
New Life Family & Community Service,
Los Angeles, CA
New Life Full Gospel Ministries,
North Hollywood, CA
Ngina Associates, Lynwood, CA
Nippon Bunka Jyuku Shikibu,
Honolulu, HI
NOMA Foundation, Los Angeles, CA
North Carolina State Museum of Exhibits,
Durham, NC
Northern California Cancer Pain Initiative,
San Francisco, CA
Novel Approach, Inc., Arlington, VA
Oak Park Community Arts Groups,
Sacramento, CA
Oakland Point Historic Interpretive
Center, Oakland, CA
Omega M Corporation, Pelsor, AR
Omega Psi Phi Fraternities Phi Beta Beta
Charities, Inglewood, CA
Opportunities, Inc., Milford, CT
Organ Transplant Headquarter of
California,VanNuys,CA
Papa’s Ark of Safety, Inc., Atoka, OK
Parents Union, San Dimas, CA
Patterson Family Enrichment and
Community Awareness Association,
Patterson, CA
Paul Armas Memorial, Duarte, CA
Pedro Zamora Foundation,
Los Angeles, CA
Pekin Area Swim Team, Pekin, IL
Penns Grove Historical Society,
Penns Grove, NJ
Peoples Legal Front, Inc., Springfield, MO
Pomona Valley Soccer League,
Pomona, CA
Predators Hockey Booster Club,
Bound Brook, NJ
Proactive Patient, Inc., Beverly Hills, CA
Project Renewal, Honolulu, HI
Proverbs Housing Development, Inc.,
New Orleans, LA
Pulaski Enterprise Community Alliance,
Inc., Little Rock, AR
R W McQuarters N I T T Foundation,
Inc.,Tulsa,OK
Ragin-Cajun Amateur Boxing Club,
Lafayette, LA
Reap Worldwide Ministries, Whitties, CA
Renaisance Track Club,
San Francisco, CA
Resurrection of the Lord Group,
Wa ipa h u, H I
Robert Gilchrist Foundation, Irvine, CA
Robertson Boulevard Community
Residence, Los Angeles, CA
Rock & Roll Library, Inc., Allston, MA
Roosevelt Park Parents Association,
Los Angeles, CA
Royal Hawaiian Institute for Land Mine
Removal & Reform, Honolulu, HI
S & S Payees, Wichita, KS
Sacramento International Gay and Lesbian
Film Festival, Sacramento, CA
Samahang Silang, Los Angeles, CA
Samaran Outreach Home for Families
With Children, Los Angeles, CA
San Francisco Wind Orchestras,
Incorporated, San Francisco, CA
Saroyan Social Services, Los Angeles, CA
Scenic Hawaii, Inc., Honolulu, HI
S C O P E Residential Treatment Facility
for Abused Girls, Glendale, CA
Second District Education & Policy
Foundation, Burbank, CA
Share-A-Chair, Inc., St. Cloud, MN
Shepherds Flock, Inc., Austin, TX
Silicon Valley Football Classic, Inc.,
San Jose, CA
Silicon Valley Soccer Association,
Redwood City, CA
Silver Creek Glider Club, Ltd.,
New Douglas, IL
Single Parent Family Resource Center,
Renton, WA
Sisters to Sisters Women’s Prayer
Ministry, Inc., St. Petersburg, FL
Skippy Foundation,
Lake View Terrace, CA
S L I McLaughlin, House, Inc.,
Woburn, MA
South Gate Boys Basketball Association,
Southgate, CA
Southern Wake Community Outreach Ct,
Raleigh, NC
Sovereign Nations Cultural Preservation
Center, Sawyer, MN
St. Clair County Toys for Kids, Inc.,
Pell City, AL
Sunnyvale Alliance Youth Soccer League,
Sunnyvale, CA
Sustainable Communities, Honolulu, HI
TCP-110, Honolulu, HI
Technical Advancement and
Development, Inc., El Ceritto, CA
Themus Spencer Learning Center,
Oakland, CA
Three Rivers Wind Symphony,
Incorporated, Fort Wayne, IN
T J Striders Youth Track and Field Club,
San Bernardino, CA
T.J’s Shelter Services & Beyond,
Los Angeles, CA
Troy Main Street, Maryville, IL
T R U S T Teens Recognizing the Urgency
of Structured Training, Desoto, TX
Ultimate Lee Magazine, Inc.,
Fort Myers, FL
Unicentro Corporation, Los Angeles, CA
United for Youth Corporation,
Arkadelphia, AR
United States Little League Volleyball
Association, Santa Monica, CA
Universal Education Center for the
Visual and Performing Arts, Inc.,
Sherman Oaks, CA
Upward Mobility Association,
Oakland, CA
Urban Housing Program, Inc.,
Los Angeles, CA
Varian Fry Institute, Burbank, CA
Vegan Aloha, Inc., Haiku, HI
Venture West Theater Company,
Los Angeles, CA
Vietnamese Cultural House, Pomona, CA
Villa Aurora Institute, Inc.,
Pacific Palisades, CA
Voluntary Committee of Lawyers, Inc.,
New York, NY
Volunteer Center of Alliance,
Burlington, NC
Waikoloa Recreation Association,
Waikoloa, H I
Waismann Foundation, Beverly Hills, CA
Waldorf Institute of Los Angeles,
N. Hollywood, CA
War Prevention Institute, San Mateo, CA
Wave Riders Against Drugs, Keaha, HI
Waysata Boys Basketball Association,
Plymouth, MN
We Dream Too, Inc., Mt. Pleasant, SC
Wellness Institute, Los Angeles, CA
Wesley Comprehensive Health
Specialists, Hermosa Beach, CA
Westminster Services, Inc., Orlando, FL
Westview Services, Anaheim, CA
Willow Brook Institute of International
Relations, Inc., Bethesda, MD
Womens Community Development
Coalition, Inc., San Francisco, CA
Wo m e n s Wor ld C u p 199 9 O rg a niz i ng
Committee, Inc., Sierra Madre, CA
Word of Life Family Outreach Center,
Inc., Baltimore, MD
Working Together, Seattle, WA
2005–12 I.R.B.775March 21, 2005

World Without Litter Alliance,
Athens, OH
Worlds Light, Downey, CA
Worldwide Campus for Kids,
Brentwood, CA
Yang-Na Institute, Studio City, CA
Young Minds in Motion,
San Francisco, CA
Youth Re-Entry Program, Rodeo, CA
Youth to Youth, Freeport, ME
Yuma Orchestra Association, Yuma, AZ
Zealous Academic Computing
Organization, Pasadena, CA
If an organization listed above submits
information that warrants the renewal of
its classification as a public charity or as
a private operating foundation, the Inter-
nal Revenue Service will issue a ruling or
determination letter with the revised clas-
sification as to foundation status. Grantors
and contributors maythereafter rely upon
such ruling or determination letter as pro-
vided in section 1.509(a)–7 of the Income
Tax Regulations. It is not the practice of
the Service to announce such revised clas-
sification of foundation status in the Inter-
nal Revenue Bulletin.
Deletions From Cumulative
List of Organizations
Contributions to Which
are Deductible Under Section
170 of the Code
Announcement 2005–21
The names of organizations that no
longer qualify as organizations described
in section 170(c)(2) of the Internal Rev-
enue Code of 1986 are listed below.
Generally, the Service will not disallow
deductions for contributions made to a
listed organization on or before the date
of announcement in the Internal Revenue
Bulletin that an organization no longer
qualifies.However, the Service is not
precluded from disallowing a deduction
for any contributions made after an or-
ganization ceases to qualify under section
170(c)(2) if the organization has not timely
filed a suit for declaratory judgment under
section 7428 and if the contributor (1) had
knowledge of the revocation of the ruling
or determination letter, (2) was aware that
such revocation was imminent, or (3) was
in part responsible for or was aware of the
activities or omissions of the organization
that brought about this revocation.
If on the other hand a suit for declara-
tory judgment has been timely filed, con-
tributions from individuals and organiza-
tions described in section 170(c)(2) that
are otherwise allowable will continue to
be deductible. Protection under section
7428(c) would begin on January 24, 2005,
and would end on the date the court first
determines that the organization is not de-
scribed in section 170(c)(2) as more partic-
ularly set forth in section 7428(c)(1). For
individual contributors, the maximum de-
duction protected is $1,000, with a hus-
band and wife treated as one contributor.
This benefit is not extended to any indi-
vidual, in whole or in part, for the acts or
omissions of the organization that were the
basis for revocation.
Little League Baseball, Inc.
2321213 Schenectady LL
Schenectady, NY
Jane Withers Wonderful World
of Dolls and Teddy Bears
Studio City, CA
March 21, 20057762005–12 I.R.B.

Definition of Terms
Revenue rulings and revenue procedures
(hereinafter referred to as “rulings”) that
have an effect on previous rulings use the
following defined terms to describe the ef-
fect:
Amplifieddescribes a situation where
no change is being made in a prior pub-
lished position, but the prior position is be-
ingextendedtoapplytoavariationofthe
fact situation set forth therein. Thus, if
an earlier ruling held that a principle ap-
plied to A, and the new ruling holds that the
same principle also applies to B, the earlier
ruling is amplified. (Compare withmodi-
fied,below).
Clarifiedis used in those instances
where the language in a prior ruling is be-
ing made clear because the language has
caused, or may cause, some confusion.
It is not used where a position in a prior
ruling is being changed.
Distinguisheddescribes a situation
where a ruling mentions a previously pub-
lished ruling and points out an essential
difference between them.
Modifiedis used where the substance
of a previously published position is being
changed. Thus, if a prior ruling held that a
principle applied to A but not to B, and the
new ruling holds that it applies to both A
and B, the prior ruling is modified because
it corrects a published position. (Compare
withamplifiedandclarified, above).
Obsoleteddescribes a previously pub-
lished ruling that is not considered deter-
minative with respect to future transac-
tions. This term is most commonly used in
a ruling that lists previously published rul-
ings that are obsoleted because of changes
in laws or regulations. A ruling may also
be obsoleted because the substance has
been included in regulations subsequently
adopted.
Revokeddescribes situations where the
position in the previously published ruling
is not correct and the correct position is
beingstatedinanewruling.
Supersededdescribes a situation where
the new ruling does nothing more than re-
state the substance and situation of a previ-
ously published ruling (or rulings). Thus,
the term is used to republish under the
1986 Code and regulations the same po-
sition published under the 1939 Code and
regulations. The term is also used when
it is desired to republish in a single rul-
ing a series of situations, names, etc., that
were previously published over a period of
time in separate rulings. If the new rul-
ing does more than restate the substance
of a prior ruling, a combination of terms
is used. For example,modifiedandsu-
persededdescribes a situation where the
substance of a previously published ruling
is being changed in part and is continued
without change in part and it is desired to
restate the valid portion of the previously
published ruling in a new ruling that is self
contained. In this case, the previously pub-
lished ruling is first modified and then, as
modified, is superseded.
Supplementedis used in situations in
which a list, such as a list of the names of
countries, is published in a ruling and that
list is expanded by adding further names in
subsequent rulings. After the original rul-
ing has been supplemented several times, a
new ruling may be published that includes
the list in the original ruling and the ad-
ditions, and supersedes all prior rulings in
the series.
Suspendedis used in rare situations
to show that the previous published rul-
ings will not be applied pending some
future action such as the issuance of new
or amended regulations, the outcome of
cases in litigation, or the outcome of a
Service study.
Abbreviations
The fol
lowing abbreviations in current use
and for
merly used will appear in material
publis
hedintheBulletin.
A—Individual.
Acq.—A
cquiescence.
B—Individual.
BE—Beneficiary.
BK—Bank
.
B.T.A.—Board of Tax Appeals.
C—Individual.
C.B.—Cu
mulative Bulletin.
CFR—Code of Federal Regulations.
CI—City.
COOP—Coo
perative.
Ct.D.—Court Decision.
CY—County.
D—Decede
nt.
DC—Dummy Corporation.
DE—Donee.
Del. Order
—Delegation Order.
DISC—Domestic International Sales Corporation.
DR—Donor.
E—Estate.
EE—Employee.
E.O.—Executive Order.
ER—Emp
loyer.
ERISA—Employee Retirement Income Security Act.
EX—Executor.
F—Fiduc
iary.
FC—Foreign Country.
FICA—Federal Insurance Contributions Act.
FISC—Fo
reign International Sales Company.
FPH—Foreign Personal Holding Company.
F. R .—Federal Register.
FUTA—Fed
eral Unemployment Tax Act.
FX—Foreign corporation.
G.C.M.—Chief Counsel’s Memorandum.
GE—Grante
e.
GP—General Partner.
GR—Grantor.
IC—Insura
nce Company.
I.R.B.—Internal Revenue Bulletin.
LE—Lessee.
LP—Limited
Partner.
LR—Lessor.
M—Minor.
Nonacq.—No
nacquiescence.
O—Organization.
P—Parent Corporation.
PHC—Persona
l Holding Company.
PO—Possession of the U.S.
PR—Partner.
PRS—Pa
rtnership.
PTE—Prohibited Transaction Exemption.
Pub. L.—Public Law.
REIT—Re
al Estate Investment Trust.
Rev. Proc.—Revenue Procedure.
Rev. Rul.—Revenue Ruling.
S—Subsi
diary.
S.P.R.—Statement of Procedural Rules.
Stat.—Statutes at Large.
T—Target
Corporation.
T.C.—Tax Court.
T.D.—Treasury Decision.
TFE—Trans
feree.
TFR—Transferor.
T.I.R.—Technical Information Release.
TP—Taxpay
er.
TR—Trust.
TT—Trustee.
U.S.C.—Uni
ted States Code.
X—Corporation.
Y—Corporation.
Z—Corporat
ion.
2005–12 I.R.B.iMarch 21, 2005

Numerical Finding List
1
Bulletins 2005–1 through 2005–12
Announcements:
2005-1, 2005-1 I.R.B.257
2005-2, 2005-2 I.R.B.319
2005-3, 2005-2 I.R.B.270
2005-4, 2005-2 I.R.B.319
2005-5, 2005-3 I.R.B.353
2005-6, 2005-4 I.R.B.377
2005-7, 2005-4 I.R.B.377
2005-8, 2005-4 I.R.B.380
2005-9, 2005-4 I.R.B.380
2005-10, 2005-5 I.R.B.450
2005-11, 2005-5 I.R.B.451
2005-12, 2005-7 I.R.B.555
2005-13, 2005-8 I.R.B.627
2005-14, 2005-9 I.R.B.653
2005-15, 2005-9 I.R.B.654
2005-16, 2005-10 I.R.B.702
2005-17, 2005-10 I.R.B.673
2005-18, 2005-9 I.R.B.660
2005-19, 2005-11 I.R.B.744
2005-20, 2005-12 I.R.B.772
2005-21, 2005-12 I.R.B.776
Notices:
2005-1, 2005-2 I.R.B.274
2005-2, 2005-3 I.R.B.337
2005-3, 2005-5 I.R.B.447
2005-4, 2005-2 I.R.B.289
2005-5, 2005-3 I.R.B.337
2005-6, 2005-5 I.R.B.448
2005-7, 2005-3 I.R.B.340
2005-8, 2005-4 I.R.B.368
2005-9, 2005-4 I.R.B.369
2005-10, 2005-6 I.R.B.474
2005-11, 2005-7 I.R.B.493
2005-12, 2005-7 I.R.B.494
2005-13, 2005-9 I.R.B.630
2005-14, 2005-7 I.R.B.498
2005-15, 2005-7 I.R.B.527
2005-16, 2005-8 I.R.B.605
2005-17, 2005-8 I.R.B.606
2005-18, 2005-9 I.R.B.634
2005-19, 2005-9 I.R.B.634
2005-20, 2005-9 I.R.B.635
2005-21, 2005-11 I.R.B.727
2005-22, 2005-12 I.R.B.756
2005-23, 2005-11 I.R.B.732
2005-24, 2005-12 I.R.B.757
2005-26, 2005-12 I.R.B.758
Proposed Regulations:
REG-117969-00, 2005-7 I.R.B.533
Proposed Regulations— Continued:
REG-125628-01, 2005-7 I.R.B.536
REG-129709-03, 2005-3 I.R.B.351
REG-148867-03, 2005-9 I.R.B.646
REG-130370-04, 2005-8 I.R.B.608
REG-130671-04, 2005-10 I.R.B.694
REG-131128-04, 2005-11 I.R.B.733
REG-139683-04, 2005-4 I.R.B.371
REG-152914-04, 2005-9 I.R.B.650
REG-152945-04, 2005-6 I.R.B.484
REG-159824-04, 2005-4 I.R.B.372
Revenue Procedures:
2005-1, 2005-1 I.R.B.1
2005-2, 2005-1 I.R.B.86
2005-3, 2005-1 I.R.B.118
2005-4, 2005-1 I.R.B.128
2005-5, 2005-1 I.R.B.170
2005-6, 2005-1 I.R.B.200
2005-7, 2005-1 I.R.B.240
2005-8, 2005-1 I.R.B.243
2005-9, 2005-2 I.R.B.303
2005-10, 2005-3 I.R.B.341
2005-11, 2005-2 I.R.B.307
2005-12, 2005-2 I.R.B.311
2005-13, 2005-12 I.R.B.759
2005-14, 2005-7 I.R.B.528
2005-15, 2005-9 I.R.B.638
2005-16, 2005-10 I.R.B.674
Revenue Rulings:
2005-1, 2005-2 I.R.B.258
2005-2, 2005-2 I.R.B.259
2005-3, 2005-3 I.R.B.334
2005-4, 2005-4 I.R.B.366
2005-5, 2005-5 I.R.B.445
2005-6, 2005-6 I.R.B.471
2005-7, 2005-6 I.R.B.464
2005-8, 2005-6 I.R.B.466
2005-9, 2005-6 I.R.B.470
2005-10, 2005-7 I.R.B.492
2005-12, 2005-9 I.R.B.628
2005-13, 2005-10 I.R.B.664
2005-14, 2005-12 I.R.B.749
2005-15, 2005-11 I.R.B.720
Tax Conventions:
2005-3, 2005-2 I.R.B.270
2005-17, 2005-10 I.R.B.673
Treasury Decisions:
9164, 2005-3 I.R.B.320
9165, 2005-4 I.R.B.357
9166, 2005-8 I.R.B.558
9167, 2005-2 I.R.B.261
9168, 2005-4 I.R.B.354
Treasury Decisions— Continued:
9169, 2005-5 I.R.B.381
9170, 2005-4 I.R.B.363
9171, 2005-6 I.R.B.452
9172, 2005-6 I.R.B.468
9173, 2005-8 I.R.B.557
9174, 2005-9 I.R.B.629
9175, 2005-10 I.R.B.665
9176, 2005-10 I.R.B.661
9177, 2005-10 I.R.B.671
9178, 2005-11 I.R.B.708
9179, 2005-11 I.R.B.707
9180, 2005-11 I.R.B.714
9181, 2005-11 I.R.B.717
9182, 2005-11 I.R.B.713
9183, 2005-12 I.R.B.754
9184, 2005-12 I.R.B.753
9185, 2005-12 I.R.B.749
1
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2004–27 through 2004–52 is in Internal Revenue Bulletin
2004–52, dated December 27, 2004.
March 21, 2005ii2005–12 I.R.B.

Finding List of Current Actions on
Previously Published Items
1
Bulletins 2005–1 through 2005–12
Announcements:
2001-77
Modified by
Rev. Proc. 2005-16, 2005-10 I.R.B.674
Notices:
88-30
Obsoleted by
Notice 2005-4, 2005-2 I.R.B.289
88-132
Obsoleted by
Notice 2005-4, 2005-2 I.R.B.289
89-29
Obsoleted by
Notice 2005-4, 2005-2 I.R.B.289
89-38
Obsoleted by
Notice 2005-4, 2005-2 I.R.B.289
2004-80
Clarified and modified by
Notice 2005-22, 2005-12 I.R.B.756
Updated by
Notice 2005-17, 2005-8 I.R.B.606
2005-4
Modified by
Notice 2005-24, 2005-12 I.R.B.757
2005-17
Clarified and modified by
Notice 2005-22, 2005-12 I.R.B.756
Proposed Regulations:
REG-149519-03
Corrected by
Ann. 2005-11, 2005-5 I.R.B.451
REG-114726-04
Corrected by
Ann. 2005-10, 2005-5 I.R.B.450
Revenue Procedures:
98-16
Modified and superseded by
Rev. Proc. 2005-11, 2005-2 I.R.B.307
2000-20
Modified and superseded by
Rev. Proc. 2005-16, 2005-10 I.R.B.674
2001-22
Superseded by
Rev. Proc. 2005-12, 2005-2 I.R.B.311
Revenue Procedures— Continued:
2002-9
Modified and amplified by
Rev. Proc. 2005-9, 2005-2 I.R.B.303
2004-1
Superseded by
Rev. Proc. 2005-1, 2005-1 I.R.B.1
2004-2
Superseded by
Rev. Proc. 2005-2, 2005-1 I.R.B.86
2004-3
Superseded by
Rev. Proc. 2005-3, 2005-1 I.R.B.118
2004-4
Superseded by
Rev. Proc. 2005-4, 2005-1 I.R.B.128
2004-5
Superseded by
Rev. Proc. 2005-5, 2005-1 I.R.B.170
2004-6
Superseded by
Rev. Proc. 2005-6, 2005-1 I.R.B.200
2004-7
Superseded by
Rev. Proc. 2005-7, 2005-1 I.R.B.240
2004-8
Superseded by
Rev. Proc. 2005-8, 2005-1 I.R.B.243
2004-18
Obsoleted in part by
Rev. Proc. 2005-15, 2005-9 I.R.B.638
2004-35
Corrected by
Ann. 2005-4, 2005-2 I.R.B.319
2004-60
Superseded by
Rev. Proc. 2005-10, 2005-3 I.R.B.341
2005-6
Modified by
Rev. Proc. 2005-16, 2005-10 I.R.B.674
2005-8
Modified by
Rev. Proc. 2005-16, 2005-10 I.R.B.674
Revenue Rulings:
69-516
Obsoleted by
T.D. 9182, 2005-11 I.R.B.713
77-415
Obsoleted by
T.D. 9182, 2005-11 I.R.B.713
Revenue Rulings— Continued:
77-479
Obsoleted by
T.D. 9182, 2005-11 I.R.B.713
82-34
Obsoleted by
T.D. 9182, 2005-11 I.R.B.713
92-63
Modified and superseded by
Rev. Rul. 2005-3, 2005-3 I.R.B.334
95-63
Modified and superseded by
Rev. Rul. 2005-3, 2005-3 I.R.B.334
2004-43
Revoked by
Rev. Rul. 2005-10, 2005-7 I.R.B.492
2004-103
Superseded by
Rev. Rul. 2005-3, 2005-3 I.R.B.334
Treasury Decisions:
9170
Corrected by
Ann. 2005-13, 2005-8 I.R.B.627
1
A cumulative list of current actions on previously published items in Internal Revenue Bulletins 2004–27 through 2004–52 is in Internal Revenue Bulletin 2004–52, dated December 27,
2004.
2005–12 I.R.B.iiiMarch 21, 2005

March 21, 20052005–12 I.R.B.

2005–12 I.R.B.March 21, 2005

March 21, 20052005–12 I.R.B.

INTERNAL REVENUE BULLETIN
The Introduction at the beginning of this issue describes the purpose and content of this publication. The weekly Internal Revenue
Bulletin is sold on a yearly subscription basis by the Superintendent of Documents. Current subscribers are notified by the Superin-
tendent of Documents when their subscriptions must be renewed.
CUMULATIVE BULLETINS
The contents of this weekly Bulletin are consolidated semiannually into a permanent, indexed, Cumulative Bulletin. These are
sold on a single copy basis andare notincluded as part of the subscription to the Internal Revenue Bulletin. Subscribers to the weekly
Bulletin are notified when copies of the Cumulative Bulletin are available. Certain issues of Cumulative Bulletins are out of print
and are not available. Persons desiring available Cumulative Bulletins, which are listed on the reverse, may purchase them from the
Superintendent of Documents.
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You may view the Internal Revenue Bulletin on the Internet at www.irs.gov. Under information for: select Businesses. Under
related topics, select More Topics. Then select Internal Revenue Bulletins.
INTERNAL REVENUE BULLETINS ON CD-ROM
Internal Revenue Bulletins are available annually as part ofPublication 1796 (Tax Products CD-ROM). The CD-ROM can be
purchased from National Technical Information Service (NTIS) on the Internet at www.irs.gov/cdorders (discount for online orders)
or by calling 1-877-233-6767. The first release is available in mid-December and the final release is available in late January.
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Check the publications and/or subscription(s) desired on the reverse, complete the order blank, enclose the proper remittance,
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