Internal Revenue Bulletin 2015-44 (PDF rendition): IRS Revenue Rulings

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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. 2015–22, page 610.
Federal rates; adjusted federal rates; adjusted federal long-
term rate and the long-term exempt rate. For purposes of
sections 382, 642, 1274, 1288, and other sections of the
Code, tables set forth the rates for November 2015.
Rev. Proc. 2015–53, page 615.
This procedure provides the 2016 cost-of-living adjustments to
certain items due to inflation as required by various provisions
of the Code and Service guidance.
ESTATE TAX
Rev. Proc. 2015–53, page 615.
This procedure provides the 2016 cost-of-living adjustments to
certain items due to inflation as required by various provisions
of the Code and Service guidance.
GIFT TAX
Rev. Proc. 2015–53, page 615.
This procedure provides the 2016 cost-of-living adjustments to
certain items due to inflation as required by various provisions
of the Code and Service guidance.
EXCISE TAX
Rev. Proc. 2015–53, page 615.
This procedure provides the 2016 cost-of-living adjustments to
certain items due to inflation as required by various provisions
of the Code and Service guidance.
ADMINISTRATIVE
Rev. Proc. 2015–53, page 615.
This procedure provides the 2016 cost-of-living adjustments to
certain items due to inflation as required by various provisions
of the Code and Service guidance.
Notice 2015–72, page 613.
This proposed revenue procedure updates Rev. Proc. 87.24,
1987–1 C.B. 720, which describes the practices for the ad-
ministrative appeals process in cases docketed in the United
States Tax Court.
Finding Lists begin on page ii.
Bulletin No. 2015– 44
November 2, 2015

The IRS Mission
Provide America’s taxpayers top-quality service by helping
them understand and meet their tax responsibilities and en-
force the 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.
It is the policy of the Service to publish in the Bulletin all
substantive rulings necessary to promote a uniform application
of the tax laws, including all rulings that supersede, revoke,
modify, or amend any of those previously published in the
Bulletin. All published rulings apply retroactively unless other-
wise indicated. Procedures relating solely to matters of internal
management are not published; however, statements of inter-
nal 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, identify-
ing 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.—1986 Code.
This part includes rulings and decisions based on provisions of
the Internal 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, Legisla-
tion 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 part includes notices of proposed rulemakings, disbar-
ment and 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 contents of this publication are not copyrighted and may be reprinted freely. A citation of the Internal Revenue Bulletin as the source would be appropriate.
November 2, 2015Bulletin No. 2015– 44

Part I. Rulings and Decisions Under the Internal Revenue Code
of 1986
Section 1274.—
Determination of Issue
Price in the Case of
Certain Debt Instruments
Issued for Property
(Also Sections 42, 280G, 382, 412, 467, 468, 482,
483, 642, 807, 846, 1288, 7520, 7872.)
Rev. Rul. 2015–22
This revenue ruling provides various
prescribed rates for federal income tax
purposes for November 2015 (the current
month). Table 1 contains the short-term,
mid-term, and long-term applicable fed-
eral rates (AFR) for the current month for
purposes of section 1274(d) of the Internal
Revenue Code. Table 2 contains the short-
term, mid-term, and long-term adjusted
applicable federal rates (adjusted AFR)
for the current month for purposes of sec-
tion 1288(b). Table 3 sets forth the ad-
justed federal long-term rate and the long-
term tax-exempt rate described in section
382(f). Table 4 contains the appropriate
percentages for determining the low-
income housing credit described in sec-
tion 42(b)(1) for buildings placed in ser-
vice during the current month. However,
under section 42(b)(2), the applicable per-
centage for non-federally subsidized new
buildings placed in service after July 30,
2008, with respect to housing credit dollar
amount allocations made before January
1, 2015, shall not be less than 9%. Finally,
Table 5 contains the federal rate for de-
termining the present value of an annuity,
an interest for life or for a term of years, or
a remainder or a reversionary interest for
purposes of section 7520.
REV. RUL. 2015–22 TABLE 1
Applicable Federal Rates (AFR) for November 2015
Period for Compounding
AnnualSemiannualQuarterlyMonthly
Short-term
AFR.49%.49%.49%.49%
110% AFR.54%.54%.54%.54%
120% AFR.59%.59%.59%.59%
130% AFR.64%.64%.64%.64%
Mid-term
AFR1.59%1.58%1.58%1.57%
110% AFR1.75%1.74%1.74%1.73%
120% AFR1.91%1.90%1.90%1.89%
130% AFR2.06%2.05%2.04%2.04%
150% AFR2.38%2.37%2.36%2.36%
175% AFR2.79%2.77%2.76%2.75%
Long-term
AFR2.57%2.55%2.54%2.54%
110% AFR2.83%2.81%2.80%2.79%
120% AFR3.08%3.06%3.05%3.04%
130% AFR3.35%3.32%3.31%3.30%
REV. RUL. 2015–22 TABLE 2
Adjusted AFR for November 2015
Period for Compounding
AnnualSemiannualQuarterlyMonthly
Short-term adjusted AFR.49%.49%.49%.49%
Mid-term adjusted AFR1.49%1.48%1.48%1.48%
Long-term adjusted AFR2.57%2.55%2.54%2.54%
November 2, 2015Bulletin No. 2015– 44
610

REV. RUL. 2015–22 TABLE 3
Rates Under Section 382 for November 2015
Adjusted federal long-term rate for the current month2.57%
Long-term tax-exempt rate for ownership changes during the current month (the highest
of the adjusted federal long-term rates for the current month and the prior two months.)
2.64%
REV. RUL. 2015–22 TABLE 4
Appropriate Percentages Under Section 42(b)(1) for November 2015
Note: Under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after
July 30, 2008, with respect to housing credit dollar amount allocations made before January 1, 2015 shall not be less than
9%.
Appropriate percentage for the 70% present value low-income housing credit7.48%
Appropriate percentage for the 30% present value low-income housing credit3.20%
REV. RUL. 2015–22 TABLE 5
Rate Under Section 7520 for November 2015
Applicable federal rate for determining the present value of an annuity, an interest for
life or a term of years, or a remainder or reversionary interest
2.0%
Section 42.—Low-Income
Housing Credit
The adjusted applicable federal short-term, mid-
term, and long-term rates are set forth for the month of
November 2015. See Rev. Rul. 2015–22, page 610.
Section 280G.—Golden
Parachute Payments
Federal short-term, mid-term, and long-term
rates are set forth for the month of November 2015.
See Rev. Rul. 2015–22, page 610.
Section 382.—Limitation
on Net Operating Loss
Carryforwards and Certain
Built-In Losses Following
Ownership Change
The adjusted applicable federal long-term rate is
set forth for the month of November 2015. See Rev.
Rul. 2015–22, page 610.
Section 412.—Minimum
Funding Standards
The adjusted applicable federal short-term, mid-
term, and long-term rates are set forth for the month of
November 2015. See Rev. Rul. 2015–22, page 610.
Section 467.—Certain
Payments for the Use of
Property or Services
The adjusted applicable federal short-term, mid-
term, and long-term rates are set forth for the month of
November 2015. See Rev. Rul. 2015–22, page 610.
Section 468.—Special
Rules for Mining and Solid
Waste Reclamation and
Closing Costs
The adjusted applicable federal short-term, mid-
term, and long-term rates are set forth for the month of
November 2015. See Rev. Rul. 2015–22, page 610.
Section 482.—Allocation of
Income and Deductions
Among Taxpayers
Federal short-term, mid-term, and long-term
rates are set forth for the month of November 2015.
See Rev. Rul. 2015–22, page 610.
Section 483.—Interest on
Certain Deferred Payments
The adjusted applicable federal short-term, mid-
term, and long-term rates are set forth for the month of
November 2015. See Rev. Rul. 2015–22, page 610.
Section 642.—Special
Rules for Credits and
Deductions
Federal short-term, mid-term, and long-term
rates are set forth for the month of November 2015.
See Rev. Rul. 2015–22, page 610.
Section 807.—Rules for
Certain Reserves
The adjusted applicable federal short-term, mid-
term, and long-term rates are set forth for the month of
November 2015. See Rev. Rul. 2015–22, page 610.
Section 846.—Discounted
Unpaid Losses Defined
The adjusted applicable federal short-term, mid-
term, and long-term rates are set forth for the month of
November 2015. See Rev. Rul. 2015–22, page 610.
Section 1288.—Treatment
of Original Issue Discount
on Tax-Exempt Obligations
The adjusted applicable federal short-term, mid-
term, and long-term rates are set forth for the month of
November 2015. See Rev. Rul. 2015–22, page 610.
Bulletin No. 2015– 44November 2, 2015
611

Section 7520.—Valuation
Tables
The adjusted applicable federal short-term, mid-
term, and long-term rates are set forth for the month
of November 2015. See Rev. Rul. 2015–22, page
610.
Section 7872.—Treatment
of Loans With Below-
Market Interest Rates
The adjusted applicable federal short-term, mid-
term, and long-term rates are set forth for the month of
November 2015. See Rev. Rul. 2015–22, page 610.
November 2, 2015Bulletin No. 2015– 44
612

Part III. Administrative, Procedural, and Miscellaneous
Administrative, Procedural,
and Miscellaneous
Notice 2015–72
This notice provides a proposed reve-
nue procedure that would update Rev.
Proc. 87–24, 1987–1 C.B. 720, which de-
scribes the practices for the administrative
appeals process in cases docketed in the
United States Tax Court (Tax Court).
Since the issuance of Rev. Proc. 87–24 in
January 1987, the Internal Revenue Ser-
vice (IRS) has been reorganized several
times, the volume of litigation in the Tax
Court has increased, and the IRS has ad-
opted new policies and procedures to
more efficiently manage the IRS’s work
load. Accordingly, Rev. Proc. 87–24
needs to be updated to more accurately
reflect the procedures utilized in manag-
ing the flow of docketed cases between
the Office of Appeals (Appeals) and the
Office of Chief Counsel (Counsel).
The proposed update to Rev. Proc.
87–24 is not intended to materially mod-
ify the current practice of referring dock-
eted cases to Appeals for settlement cur-
rently utilized in the vast majority of
cases. The proposed revenue procedure
describes the policies to ensure that dock-
eted cases are handled consistently nation-
wide. Additionally, the proposed revenue
procedure updates official titles and re-
moves the exclusion for cases governed
by rulings by the National Office in em-
ployee plans and exempt organizations to
reflect recent organization changes in the
Tax Exempt and Government Entities Di-
vision.SeeRev. Proc. 87–24, § 3, 1987–1
C.B. 720.
The proposed revenue procedure clari-
fies that, except in rare circumstances,
Counsel will refer cases docketed in Tax
Court to Appeals for settlement consider-
ation. However, the proposed revenue
procedure recognizes that there are cases
and issues that should not be referred to
Appeals or for which Counsel needs ad-
ditional time before referring the case to
Appeals. The proposed revenue procedure
clarifies the procedures for when those
situations arise.
The proposed revenue procedure pro-
motes the shared responsibility of Counsel
and Appeals to interact in a manner that
preserves Appeals’ independence. For in-
stance, the proposed revenue procedure
clarifies that, even in docketed cases, Ap-
peals may exclude Counsel from settle-
ment conferences with the taxpayer if Ap-
peals determines Counsel’s involvement
will not further settlement of the case. The
proposed revenue procedure also ad-
dresses coordination if a taxpayer raises a
new issue while the docketed case is in
Appeals.
Finally, the proposed revenue proce-
dure describes procedures for requesting
assistance from Counsel while the dock-
eted case is in Appeals, and the internal
procedures for handling and transferring
custody of the administrative file for
docketed cases referred to Appeals.
Because the provisions in the proposed
revenue procedure affect a taxpayer’s case
that is docketed in Tax Court, the IRS
requests comments on the procedures con-
tained in the proposed update to Rev.
Proc. 87–24. Comments should be sub-
mitted by November 16, 2015 to:
Internal Revenue Service
Attn: CC:PA:LPD:PR
(Notice 2015–72)
Room 5203
P.O. Box 7602
Ben Franklin Station
Washington, D.C. 20044
or hand deliver comments Monday
through Friday between the hours of 8
a.m. and 4 p.m. to:
Courier’s Desk
Internal Revenue Service
Attn: CC:PA:LPD:PR
(Notice 2015–72)
1111 Constitution Avenue, N.W.
Washington, D.C. 20224
Alternatively, persons may submit
comments electronically via e-mail to the
following address:Notice.Comments@
irscounsel.treas.gov. Please include “No-
tice 2015–72” in the subject line of any
electronic communications. All comments
submitted by the public will be available
for public inspection and copying in their
entirety.
Proposed Rev. Proc. [XXXX–XX]
SECTION 1. PURPOSE
This revenue procedure updates Rev.
Proc. 87–24, 1987–1 C.B. 720, to clarify
and describe the practices for the admin-
istrative appeals process in cases docketed
in the United States Tax Court (Tax
Court). The purpose of this revenue pro-
cedure is to facilitate effective utilization
of administrative appeals and achieve ear-
lier development and disposition of Tax
Court cases.
SECTION 2. BACKGROUND
.01 The Office of Chief Counsel
(Counsel) is charged with the responsibil-
ity of representing the Commissioner of
Internal Revenue in cases docketed in the
Tax Court. I.R.C. §§ 7452, 7803(b)(2)(D).
.02 The Internal Revenue Service Re-
structuring and Reform Act of 1998, Pub.
L. 105–206, § 1001(4), 112 Stat. 685, 689,
requires the Internal Revenue Service
(IRS) to “ensure an independent appeals
function” within the IRS.
.03 Under Rev. Proc. 2012–18, 2012–1
C.B. 455, the rules prohibiting ex parte
communications between Counsel and the
Office of Appeals (Appeals) do not apply
to cases docketed in the Tax Court. How-
ever, Counsel and Appeals share a respon-
sibility to interact – in all circumstances –
in a manner that preserves and promotes
Appeals’ independence.SeeRev. Proc.
2012–18, § 2.02(2), 2012–1 C.B. 455, 457.
SECTION 3. PROCEDURES
Cases docketed in the Tax Court will
be processed under the following proce-
dures:
.01 Except as set forth in section 3.03
and section 4 of this Revenue Procedure,
Counsel will refer docketed cases to Ap-
peals for settlement consideration unless
1) Appeals issued the notice of deficiency
or made the determination that is the basis
of the Tax Court’s jurisdiction or 2) the
taxpayer foregoes settlement consider-
ation by Appeals.
.02 If Appeals issues a notice of defi-
ciency or makes a determination without
having fully considered one or more is-
sues because of an impending expiration
of the statute of limitations on assessment,
Bulletin No. 2015– 44November 2, 2015
613

Appeals may include a request in the ad-
ministrative case file for Counsel to return
the case to Appeals for full consideration
of the issue or issues once the case is
docketed in the Tax Court. If Appeals
includes such a request in the administra-
tive case file, the case will be treated as if
Appeals did not issue the notice of defi-
ciency or make the determination.
.03 Counsel will not refer to Appeals
any docketed case or issue that has been
designated for litigation by Counsel. In
limited circumstances, a docketed case or
issue will not be referred to Appeals if
Division Counsel or a higher level Coun-
sel official determines that referral is not
in the interest of sound tax administration.
For example, Counsel may decide not to
refer a docketed case to Appeals in cases
involving a significant issue common to
other cases in litigation for which it is
important that the IRS maintain a consis-
tent position or in cases related to a case
over which the Department of Justice has
jurisdiction. If Counsel determines that a
docketed case or issue will not be referred
to Appeals, Counsel will notify the tax-
payer that the case will not be referred to
Appeals.
.04 For cases not covered by the ex-
ceptions in section 3 or the exclusions in
section 4, Counsel will refer a docketed
case to Appeals within 30 days of the case
becoming “at issue in the Tax Court” (as
defined by Tax Ct. R. 38). Counsel may,
with manager approval, delay forwarding
a docketed case to Appeals if Counsel
identifies a need for additional time. A
delay of more than 90 days (120 days
from when the case is at issue) requires
approval of a Counsel executive. If a de-
lay of more than 90 days is approved,
Counsel will discuss with Appeals the
need for the delay and when Counsel ex-
pects to forward the case to Appeals for
settlement consideration. Examples of
when Counsel may delay forwarding a
docketed case to Appeals include, but are
not limited to, cases in which Counsel
determines a need to retain the adminis-
trative file for early trial preparation or
when new facts, issues, or items are raised
in the pleadings. Counsel may also delay
forwarding a docketed case to Appeals
when Counsel anticipates filing a dispos-
itive motion, in which case Counsel will
retain the case until the Tax Court rules on
the motion. If a delay of more than 90
days is approved, Counsel will notify the
taxpayer that referral of the case to Ap-
peals will be delayed.
.05 When a docketed case is forwarded
to Appeals for consideration, Appeals has
the sole authority to resolve the case
through settlement until the case is re-
turned to Counsel.
.06 To the extent feasible, Counsel will
alert Appeals about limits on the amount
of time that Appeals may have the case for
settlement consideration when Counsel
forwards the case to Appeals. In such
cases, Counsel and Appeals shall then
agree upon the time when the case will be
returned to Counsel.
.07 In any docketed case proceeding as
a small tax case under the provisions of
section 7463, Appeals will return the case
to Counsel six months after the case is
received by Appeals, or earlier, if neces-
sary, so that it is received by Counsel no
later than three weeks prior to the date of
the calendar call. In all other cases, Ap-
peals will return the case to Counsel when
Appeals concludes that the case is not
susceptible to settlement or within 10 days
after the case appears on a trial calendar,
whichever is sooner. In all cases, Counsel
and Appeals may agree to extend the time
for Appeals to consider a case if settle-
ment appears reasonably likely.
.08 By agreement between Counsel
and Appeals, any docketed case may be
transferred from Counsel to Appeals or
from Appeals to Counsel, as appropriate,
notwithstanding the fact that the case was
previously considered by the receiving
function. This authority will be used when
such transfer will promote a more efficient
disposition of the case.
.09 Upon request, Appeals will make
the administrative case file, or a copy,
readily available to Counsel when needed
for trial preparation. A request for the
administrative case file by Counsel will
not transfer settlement authority back to
Counsel. Counsel will promptly return the
administrative file to Appeals on request,
or when it is no longer needed by Counsel
for trial preparation.
.10 When transferring a docketed case
to Appeals, Counsel may request to be
included in a settlement conference with
the taxpayer. Appeals may, with manager
approval, decline to include Counsel in
the settlement conference if, after consid-
ering the views of both Counsel and the
taxpayer, Appeals determines that Coun-
sel’s participation in the settlement con-
ference will not further settlement of the
case. Whether or not Counsel participates
in the settlement conference, Counsel will
continue with trial preparation, which may
include, but is not limited to, asking the
taxpayer to participate in informal discov-
ery conferences with Counsel only.
.11 Appeals will provide Counsel with
access to any documents received by Ap-
peals in a settlement conference with re-
spect to the docketed case.
.12 If a taxpayer or the taxpayer’s rep-
resentative raises an issue for the first time
while the docketed case is with Appeals
for settlement consideration, Appeals will
advise Counsel as soon as the new issue is
identified and coordinate with Counsel to
obtain Counsel’s views on the new issue.
In such cases, and in docketed cases con-
taining an issue that was not previously
examined, Counsel will work with the ex-
amination function of the relevant operat-
ing division, as needed, to develop the
material facts relating to the new issue
prior to Appeals’ consideration of the issue.
.13 In evaluating the merits of a dock-
eted case that has been referred to Appeals
for settlement consideration, Appeals may
obtain advice from Counsel and consider
it in conjunction with other factors to
reach a basis for settlement.
.14 In all docketed cases transferred
to Appeals, Counsel may request that
Appeals return the case (including set-
tlement authority) to Counsel before
Appeals has completed its consideration
of the case under its settlement authority
if Counsel determines that it is needed
for trial preparation.
.15 If Appeals reaches a settlement with
the taxpayer in the docketed case, Appeals
generally will prepare a stipulated decision
document reflecting the proposed resolution
and forward it to the taxpayer. Counsel may
assist with the drafting of the decision doc-
ument as needed. By signing the proposed
stipulated decision document and returning
the document to the IRS, the taxpayer
makes an offer to settle the case. Counsel
will review the decision document for accu-
racy and completeness, sign the decision
document on behalf of the Commissioner,
and file the document with the Tax Court.
November 2, 2015Bulletin No. 2015– 44
614

SECTION 4. EXCLUSIONS
.01 Section 3 does not apply to cases
docketed under section 6015(e)(1)(A)(i)(II),
section 6110, sections 6320 and 6330,
section 6402, section 7428, section 7476,
section 7477, section 7478, and section
7479 of the Internal Revenue Code. For
cases docketed under section 6213(a), sec-
tion 3 does not apply to section 6015 relief
raised for the first time in the petition.
SECTION 5. EFFECT ON OTHER
DOCUMENTS
Rev. Proc. 87–24, 1987–1 C.B. 720, is
superseded.
SECTION 6. EFFECTIVE DATE
This revenue procedure is applicable to
all docketed Tax Court cases pending on
or after [insert date revenue procedure is
released to the public].
SECTION 7. DRAFTING
INFORMATION
The principal author of this revenue
procedure is Jenni Black of the Office of
Associate Chief Counsel (Procedure &
Administration). For further information
regarding this revenue procedure contact
Jenni Black on (202) 317-6834 (not a toll-
free number).
26 CFR 601.602: Tax forms and instructions.
(Also Part I, §§ 1, 23, 24, 25A, 32, 36B, 42, 45R, 55, 59, 62, 63, 68, 125, 132(f),135, 137, 146, 147, 148, 151, 213, 220, 221, 512, 513, 877, 877A, 911, 2010,2032A,
2503, 2523, 4161, 4261, 6033, 6039F, 6323, 6334, 6601, 6651, 6652, 6695, 6698, 6699, 6721, 6722, 7430, 7702B; 1.148 –5.)
Rev. Proc. 2015–53
TABLE OF CONTENTS
SECTION 1. PURPOSE
SECTION 2. CHANGES
SECTION 3. 2016 ADJUSTED ITEMS
Code Section
.01 Tax Rate Tables...............................................................1(a)–(e)
.02 Unearned Income of Minor Children Taxed as if Parent’s Income (“Kiddie Tax”).............1(g)
.03 Adoption Credit...............................................................23
.04 Child Tax Credit...............................................................24
.05 Hope Scholarship, American Opportunity, and Lifetime Learning Credits...................25A
.06 Earned Income Credit...........................................................32
.07 Refundable Credit for Covertage Under a Qualified Health Plan..........................36B(f)(2)(B)
.08 Rehabilitation Expenditures Treated as Separate New Building...........................42(e)
.09 Low-Income Housing Credit......................................................42(h)
.10 Employee Health Insurance Expense of Small Employers...............................45R
.11 Exemption Amounts for Alternative Minimum Tax....................................55
.12 Alternative Minimum Tax Exemption for a Child Subject to the “Kiddie Tax”...............59(j)
.13 Transportation Mainline Pipeline Construction Industry Optional Expense Substantiation Rules
for Payments to Employees under Accountable Plans...................................62(c)
.14 Standard Deduction.............................................................63
.15 Overall Limitation on Itemized Deductions...........................................68
.16 Cafeteria Plans................................................................125
.17 Qualified Transportation Fringe Benefit.............................................132(f)
.18 Income from United States Savings Bonds for Taxpayers Who Pay Qualified Higher Education
Expenses.....................................................................135
.19 Adoption Assistance Programs....................................................137
.20 Private Activity Bonds Volume Cap................................................146(d)
.21 Loan Limits on Agricultural Bonds.................................................147(c)(2)
Bulletin No. 2015– 44November 2, 2015
615

.22 General Arbitrage Rebate Rules...................................................148(f)
.23 Safe Harbor Rules for Broker Commissions on Guaranteed Investment Contracts or Investments
Purchased for a Yield Restricted Defeasance Escrow...................................148
.24 Personal Exemption............................................................151
.25 Eligible Long-Term Care Premiums................................................213(d)(10)
.26 Medical Savings Accounts.......................................................220
.27 Interest on Education Loans......................................................221
.28 Treatment of Dues Paid to Agricultural or Horticultural Organizations.....................512(d)
.29 Insubstantial Benefit Limitations for Contributions Associated With Charitable Fund-Raising
Campaigns...................................................................513(h)
.30 Expatriation to Avoid Tax........................................................877
.31 Tax Responsibilities of Expatriation................................................877A
.32 Foreign Earned Income Exclusion.................................................911
.33 Unified Credit Against Estate Tax.................................................2010
.34 Valuation of Qualified Real Property in Decedent’s Gross Estate..........................2032A
.35 Annual Exclusion for Gifts.......................................................2503; 2523
.36 Tax on Arrow Shafts............................................................4161
.37 Passenger Air Transportation Excise Tax............................................4261
.38 Reporting Exception for Certain Exempt Organizations with Nondeductible Lobbying
Expenditures..................................................................6033(e)(3)
.39 Notice of Large Gifts Received from Foreign Persons..................................6039F
.40 Persons Against Whom a Federal Tax Lien Is Not Valid................................6323
.41 Property Exempt from Levy......................................................6334
.42 Interest on a Certain Portion of the Estate Tax Payable in Installments.....................6601(j)
.43 Failure to File Tax Return........................................................6651
.44 Failure to File Certain Information Returns, Registration Statements, etc....................6652
.45 Other Assessable Penalties With Respect to the Preparation of Tax Returns for Other Persons . . .6695
.46 Failure to File Partnership Return..................................................6698
.47 Failure to File S Corporation Return................................................6699
.48 Failure to File Correct Information Returns..........................................6721
.49 Failure to Furnish Correct Payee Statements..........................................6722
.50 Attorney Fee Awards...........................................................7430
.51 Periodic Payments Received under Qualified Long-Term Care Insurance Contracts or under
Certain Life Insurance Contracts...................................................7702B(d)
SECTION 4. EFFECTIVE DATE
SECTION 5. DRAFTING INFORMATION
SECTION 1. PURPOSEThis revenue procedure sets forth inflation-adjusted items for 2016.
SECTION 2. CHANGES.01 Section 202 of the Airport and Airways Extension Act of 2015, Pub. L. 114 –55, amended
§ 4261(k)(1)(A)(ii) of the Internal Revenue Code (which governs the period of applicability of
§ 4261(b)(1), (c)(1), and (c)(3)). The effect of this amendment is to temporarily extend the
passenger air transportation excise taxes of $3.00 for domestic travel, $12.00 for international
travel, and $6.00 for departures beginning or ending in Alaska or Hawaii. These excise taxes
apply to transportation taken through March 31, 2016. After this date, the taxes and rates will
expire unless Congress renews them.
.02 Section 2102 of the Small Business Jobs Act of 2010, Pub. L. 111–240, 124 Stat. 2504,
provides that for each fifth calendar year beginning after 2012, the penalty under § 6721, Failure
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to File Correct Information Returns, and the penalty under § 6722, Failure to Furnish Correct
Payee Statements, will be adjusted for inflation.
Section 208 of the Tax Increase Prevention Act of 2014, Achieving a Better Life Experience
(ABLE) Act, Pub. L. 113–295, 128 Stat. 4010, provides for inflation adjustments for certain Civil
Penalties under the Code (§§ 6651, 6652(c), 6695, 6698, 6699, 6721, and 6722) for returns and
statements required to be filed after December 31, 2014. For returns and statements required to
be filed after December 31, 2015, Section 806 of the Trade Preferences Extension Act of 2015,
Pub. L. 114 –27, 129 Stat. 362, increased the tax penalties for failure to file correct information
returns and furnish correct payee statements under §§ 6721 and 6722, respectively.
SECTION 3. 2016
ADJUSTED ITEMS
.01Tax Rate Tables. For taxable years beginning in 2016, the tax rate tables under § 1 are as
follows:
TABLE 1 — Section 1(a) — Married Individuals Filing Joint Returns and
Surviving Spouses
If Taxable Income Is:The Tax Is:
Not over $18,55010% of the taxable income
Over $18,550 but not over $75,300$1,855 plus 15% of the excess over $18,550
Over $75,300 but not over $151,900$10,367.50 plus 25% of the excess over $75,300
Over $151,900 but not over $231,450$29,517.50 plus 28% of the excess over $151,900
Over $231,450 but not over $413,350$51,791.50 plus 33% of the excess over $231,450
Over $413,350 but not over $466,950$111,818.50 plus 35% of the excess over $413,350
Over $466,950$130,578.50 plus 39.6% of the excess over
$466,950
TABLE 2 — Section 1(b) — Heads of Households
If Taxable Income Is:The Tax Is:
Not over $13,25010% of the taxable income
Over $13,250 but not over $50,400$1,325 plus 15% of the excess over $13,250
Over $50,400 but not over $130,150$6,897.50 plus 25% of the excess over $50,400
Over $130,150 but not over $210,800 $26,835 plus 28% of the excess over $130,150
Over $210,800 but not over $413,350 $49,417 plus 33% of the excess over $210,800
Over $413,350 not over $441,000$116,258.50 plus 35% of the excess over $413,350
Over $441,000$125,936 plus 39.6% of the excess over $441,000
TABLE 3 — Section 1(c) — Unmarried Individuals (other than
Surviving Spouses and Heads of Households)
If Taxable Income Is:The Tax Is:
Not over $9,27510% of the taxable income
Over $9,275 but not over $37,650$927.50 plus 15% of the excess over $9,275
Over $37,650 but not over $91,150$5,183.75 plus 25% of the excess over $37,650
Over $91,150 but not over $190,150$18,558.75 plus 28% of the excess over $91,150
Over $190,150 but not over $413,350$46,278.75 plus 33% of the excess over $190,150
Over $413,350 not over $415,050$119,934.75 plus 35% of the excess over $413,350
Over $415,050$120,529.75 plus 39.6% of the excess over
$415,050
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TABLE 4 — Section 1(d) — Married Individuals Filing Separate Returns
If Taxable Income Is:The Tax Is:
Not over $9,27510% of the taxable income
Over $9,275 but not over $37,650$927.50 plus 15% of the excess over $9,275
Over $37,650 but not over $75,950$5,183.75 plus 25% of the excess over $37,650
Over $75,950 but not over $115,725$14,758.75 plus 28% of the excess over $75,950
Over $115,725 but not over $206,675$25,895.75 plus 33% of the excess over $115,725
Over $206,675 not over $233,475$55,909.25 plus 35% of the excess over $206,675
Over $233,475$65,289.25 plus 39.6% of the excess over $233,475
TABLE 5 — Section 1(e) — Estates and Trusts
If Taxable Income Is:The Tax Is:
Not over $2,55015% of the taxable income
Over $2,550 but not over $5,950$382.50 plus 25% of the excess over $2,550
Over $5,950 but not over $9,050$1,232.50 plus 28% of the excess over $5,950
Over $9,050 but not over $12,400$2,100.50 plus 33% of the excess over $9,050
Over $12,400$3,206 plus 39.6% of the excess over $12,400
.02Unearned Income of Minor Children Taxed as if Parent’s Income (the “Kiddie Tax”). For
taxable years beginning in 2016, the amount in § 1(g)(4)(A)(ii)(I), which is used to reduce the net
unearned income reported on the child’s return that is subject to the “kiddie tax,” is $1,050. This
$1,050 amount is the same as the amount provided in § 63(c)(5)(A), as adjusted for inflation. The
same $1,050 amount is used for purposes of § 1(g)(7) (that is, to determine whether a parent may
elect to include a child’s gross income in the parent’s gross income and to calculate the “kiddie
tax”). For example, one of the requirements for the parental election is that a child’s gross income
is more than the amount referenced in § 1(g)(4)(A)(ii)(I) but less than 10 times that amount; thus,
a child’s gross income for 2016 must be more than $1,050 but less than $10,500.
.03Adoption Credit. For taxable years beginning in 2016, under § 23(a)(3) the credit allowed for
an adoption of a child with special needs is $13,460. For taxable years beginning in 2016, under
§ 23(b)(1) the maximum credit allowed for other adoptions is the amount of qualified adoption
expenses up to $13,460. The available adoption credit begins to phase out under § 23(b)(2)(A) for
taxpayers with modified adjusted gross income in excess of $201,920 and is completely phased
out for taxpayers with modified adjusted gross income of $241,920 or more. (See section 3.19 of
this revenue procedure for the adjusted items relating to adoption assistance programs.)
.04Child Tax Credit. For taxable years beginning in 2016, the value used in § 24(d)(1)(B)(i) to
determine the amount of credit under § 24 that may be refundable is $3,000.
.05Hope Scholarship, American Opportunity, and Lifetime Learning Credits.
(1) For taxable years beginning in 2016, the Hope Scholarship Credit under § 25A(b)(1), as
increased under § 25A(i) (the American Opportunity Tax Credit), is an amount equal to 100
percent of qualified tuition and related expenses not in excess of $2,000 plus 25 percent of those
expenses in excess of $2,000, but not in excess of $4,000. Accordingly, the maximum Hope
Scholarship Credit allowable under § 25A(b)(1) for taxable years beginning in 2016 is $2,500.
(2) For taxable years beginning in 2016, a taxpayer’s modified adjusted gross income in excess
of $80,000 ($160,000 for a joint return) is used to determine the reduction under § 25A(d)(2) in
the amount of the Hope Scholarship Credit otherwise allowable under § 25A(a)(1). For taxable
years beginning in 2016, a taxpayer’s modified adjusted gross income in excess of $55,000
($111,000 for a joint return) is used to determine the reduction under § 25A(d)(2) in the amount
of the Lifetime Learning Credit otherwise allowable under § 25A(a)(2).
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.06Earned Income Credit.
(1)In general. For taxable years beginning in 2016, the following amounts are used to determine
the earned income credit under § 32(b). The “earned income amount” is the amount of earned
income at or above which the maximum amount of the earned income credit is allowed. The
“threshold phaseout amount” is the amount of adjusted gross income (or, if greater, earned
income) above which the maximum amount of the credit begins to phase out. The “completed
phaseout amount” is the amount of adjusted gross income (or, if greater, earned income) at or
above which no credit is allowed. The threshold phaseout amounts and the completed phaseout
amounts shown in the table below for married taxpayers filing a joint return include the increase
provided in § 32(b)(3)(B)(i), as adjusted for inflation for taxable years beginning in 2016.
Number of Qualifying Children
ItemOneTwo
Three or
More None
Earned Income Amount$9,920$13,930 $13,930 $6,610
Maximum Amount of Credit$3,373$5,572$6,269$506
Threshold Phaseout Amount (Single, Surviving
Spouse, or Head of Household)
$18,190$18,190 $18,190 $8,270
Completed Phaseout Amount (Single, Surviving
Spouse, or Head of Household)
$39,296$44,648 $47,955 $14,880
Threshold Phaseout Amount (Married Filing
Jointly)
$23,740$23,740 $23,740 $13,820
Completed Phaseout Amount (Married Filing
Jointly)
$44,846$50,198 $53,505 $20,430
The instructions for the Form 1040 series provide tables showing the amount of the earned
income credit for each type of taxpayer.
(2)Excessive Investment Income. For taxable years beginning in 2016, the earned income tax
credit is not allowed under § 32(i)(1) if the aggregate amount of certain investment income
exceeds $3,400.
.07Refundable Credit for Coverage Under a Qualified Health Plan. For taxable years beginning
in 2016, the limitation on tax imposed under § 36B(f)(2)(B) for excess advance credit payments
is determined using the following table:
If the household income
(expressed as a percent of
poverty line) is:
The limitation amount for
unmarried individuals (other
than surviving spouses and
heads of household) is:
The limitation amount for
all other taxpayers is:
Less than 200%$300$600
At least 200% but less than 300%$750$1,500
At least 300% but less than 400%$1,275$2,550
.08Rehabilitation Expenditures Treated as Separate New Building. For calendar year 2016, the
per low-income unit qualified basis amount under § 42(e)(3)(A)(ii)(II) is $6,700.
.09Low-Income Housing Credit. For calendar year 2016, the amount used under § 42(h)(3)(C)(ii)
to calculate the State housing credit ceiling for the low-income housing credit is the greater of (1)
$2.35 multiplied by the State population, or (2) $2,690,000.
.10Employee Health Insurance Expense of Small Employers. For taxable years beginning in
2016, the dollar amount in effect under § 45R(d)(3)(B) is $25,900. This amount is used under
§ 45R(c) for limiting the small employer health insurance credit and under § 45R(d)(1)(B) for
determining who is an eligible small employer for purposes of the credit.
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.11Exemption Amounts for Alternative Minimum Tax. For taxable years beginning in 2016, the
exemption amounts under § 55(d)(1) are:
Joint Returns or Surviving Spouses$83,800
Unmarried Individuals (other than Surviving Spouses)$53,900
Married Individuals Filing Separate Returns$41,900
Estates and Trusts$23,900
For taxable years beginning in 2016, under § 55(b)(1), the excess taxable income above which the
28 percent tax rate applies is:
Married Individuals Filing Separate Returns$93,150
Joint Returns, Unmarried Individuals (other than
surviving spouses), and Estates and Trusts
$186,300
For taxable years beginning in 2016, the amounts used under § 55(d)(3) to determine the phaseout
of the exemption amounts are:
Joint Returns or Surviving Spouses$159,700
Unmarried Individuals (other than Surviving
Spouses)
$119,700
Married Individuals Filing Separate Returns and
Estates and Trusts
$79,850
.12Alternative Minimum Tax Exemption for a Child Subject to the “Kiddie Tax.” For taxable
years beginning in 2016, for a child to whom the § 1(g) “kiddie tax” applies, the exemption
amount under §§ 55 and 59(j) for purposes of the alternative minimum tax under § 55 may not
exceed the sum of (1) the child’s earned income for the taxable year, plus (2) $7,400.
.13Transportation Mainline Pipeline Construction Industry Optional Expense Substantiation
Rules for Payments to Employees under Accountable Plans. For calendar year 2016, an eligible
employer may pay certain welders and heavy equipment mechanics an amount of up to $17 per
hour for rig-related expenses that are deemed substantiated under an accountable plan if paid in
accordance with Rev. Proc. 2002– 41, 2002–1 C.B. 1098. If the employer provides fuel or
otherwise reimburses fuel expenses, up to $11 per hour is deemed substantiated if paid under Rev.
Proc. 2002– 41.
.14Standard Deduction.
(1)In general. For taxable years beginning in 2016, the standard deduction amounts under
§ 63(c)(2) are as follows:
Filing StatusStandard Deduction
Married Individuals Filing Joint Returns and Surviving
Spouses (§ 1(a))
$12,600
Heads of Households (§ 1(b))$9,300
Unmarried Individuals (other than Surviving Spouses and
Heads of Households) (§ 1(c))
$6,300
Married Individuals Filing Separate Returns (§ 1(d))$6,300
(2)Dependent. For taxable years beginning in 2016, the standard deduction amount under
§ 63(c)(5) for an individual who may be claimed as a dependent by another taxpayer cannot
exceed the greater of (1) $1,050, or (2) the sum of $350 and the individual’s earned income.
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(3)Aged or blind. For taxable years beginning in 2016, the additional standard deduction amount
under § 63(f) for the aged or the blind is $1,250. The additional standard deduction amount is
increased to $1,550 if the individual is also unmarried and not a surviving spouse.
.15Overall Limitation on Itemized Deductions. For taxable years beginning in 2016, the
applicable amounts under § 68(b) are $311,300 in the case of a joint return or a surviving spouse,
$285,350 in the case of a head of household, $259,400 in the case of an individual who is not
married and who is not a surviving spouse or head of household, $155,650 in the case of a married
individual filing a separate return.
.16Cafeteria Plans. For the taxable years beginning in 2016, the dollar limitation under § 125(i)
on voluntary employee salary reductions for contributions to health flexible spending arrange-
ments is $2,550.
.17Qualified Transportation Fringe Benefit. For taxable years beginning in 2016, the monthly
limitation under § 132(f)(2)(A) regarding the aggregate fringe benefit exclusion amount for
transportation in a commuter highway vehicle and any transit pass is $130. The monthly
limitation under § 132(f)(2)(B) regarding the fringe benefit exclusion amount for qualified
parking is $255.
.18Income from United States Savings Bonds for Taxpayers Who Pay Qualified Higher Educa-
tion Expenses. For taxable years beginning in 2016, the exclusion under § 135, regarding income
from United States savings bonds for taxpayers who pay qualified higher education expenses,
begins to phase out for modified adjusted gross income above $116,300 for joint returns and
$77,550 for all other returns. The exclusion is completely phased out for modified adjusted gross
income of $146,300 or more for joint returns and $92,550 or more for all other returns.
.19Adoption Assistance Programs. For taxable years beginning in 2016, under § 137(a)(2), the
amount that can be excluded from an employee’s gross income for the adoption of a child with
special needs is $13,460. For taxable years beginning in 2016, under § 137(b)(1) the maximum
amount that can be excluded from an employee’s gross income for the amounts paid or expenses
incurred by an employer for qualified adoption expenses furnished pursuant to an adoption
assistance program for other adoptions by the employee is $13,460. The amount excludable from
an employee’s gross income begins to phase out under § 137(b)(2)(A) for taxpayers with modified
adjusted gross income in excess of $201,920 and is completely phased out for taxpayers with
modified adjusted gross income of $241,920 or more. (See section 3.03 of this revenue procedure
for the adjusted items relating to the adoption credit.)
.20Private Activity Bonds Volume Cap. For calendar year 2016, the amounts used under § 146(d)
to calculate the State ceiling for the volume cap for private activity bonds is the greater of (1) $100
multiplied by the State population, or (2) $302,875,000.
.21Loan Limits on Agricultural Bonds. For calendar year 2016, the loan limit amount on
agricultural bonds under § 147(c)(2)(A) for first-time farmers is $520,000.
.22General Arbitrage Rebate Rules. For bond years ending in 2016, the amount of the
computation credit determined under the permission to rely on § 1.148 –3(d)(4) of the proposed
Income Tax Regulations is $1,650.
.23Safe Harbor Rules for Broker Commissions on Guaranteed Investment Contracts or Invest-
ments Purchased for a Yield Restricted Defeasance Escrow. For calendar year 2016, under
§ 1.148 –5(e)(2)(iii)(B)(1), a broker’s commission or similar fee for the acquisition of a guaran-
teed investment contract or investments purchased for a yield restricted defeasance escrow is
reasonable if (1) the amount of the fee that the issuer treats as a qualified administrative cost does
not exceed the lesser of (A) $39,000, and (B) 0.2 percent of the computational base (as defined
in § 1.148 –5(e)(2)(iii)(B)(2)) or, if more, $4,000; and (2) the issuer does not treat more than
$110,000 in brokers’ commissions or similar fees as qualified administrative costs for all
guaranteed investment contracts and investments for yield restricted defeasance escrows pur-
chased with gross proceeds of the issue.
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.24Personal Exemption.
(1) For taxable years beginning in 2016, the personal exemption amount under § 151(d) is $4,050.
(2)Phaseout. For taxable years beginning in 2016, the personal exemption phases out for
taxpayers with the following adjusted gross income amounts:
Filing StatusAGI – Beginning of Phaseout
AGI – Completed
Phaseout
Married Individuals Filing Joint
Returns and
Surviving Spouses (§ 1(a))
$311,300$433,800
Heads of Households (§ 1(b))$285,350$407,850
Unmarried Individuals (other
than Surviving Spouses and
Heads of Households) (§ 1(c))
$259,400$381,900
Married Individuals Filing Sepa-
rate Returns (§ 1(d))
$155,650$216,900
.25Eligible Long-Term Care Premiums. For taxable years beginning in 2016, the limitations
under § 213(d)(10), regarding eligible long-term care premiums includible in the term “medical
care,” are as follows:
Attained Age Before the Close of the Taxable
YearLimitation on Premiums
40 or less$390
More than 40 but not more than 50$730
More than 50 but not more than 60$1,460
More than 60 but not more than 70$3,900
More than 70$4,870
.26Medical Savings Accounts.
(1)Self-only coverage. For taxable years beginning in 2016, the term “high deductible health
plan” as defined in § 220(c)(2)(A) means, for self-only coverage, a health plan that has an annual
deductible that is not less than $2,250 and not more than $3,350, and under which the annual
out-of-pocket expenses required to be paid (other than for premiums) for covered benefits do not
exceed $4,450.
(2)Family coverage. For taxable years beginning in 2016, the term “high deductible health plan”
means, for family coverage, a health plan that has an annual deductible that is not less than $4,450
and not more than $6,700, and under which the annual out-of-pocket expenses required to be paid
(other than for premiums) for covered benefits do not exceed $8,150.
.27Interest on Education Loans. For taxable years beginning in 2016, the $2,500 maximum
deduction for interest paid on qualified education loans under § 221 begins to phase out under
§ 221(b)(2)(B) for taxpayers with modified adjusted gross income in excess of $65,000 ($130,000
for joint returns), and is completely phased out for taxpayers with modified adjusted gross income
of $80,000 or more ($160,000 or more for joint returns).
.28Treatment of Dues Paid to Agricultural or Horticultural Organizations. For taxable years
beginning in 2016, the limitation under § 512(d)(1), regarding the exemption of annual dues
required to be paid by a member to an agricultural or horticultural organization, is $161.
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.29Insubstantial Benefit Limitations for Contributions Associated with Charitable Fund-Raising
Campaigns.
(1)Low cost article. For taxable years beginning in 2016, for purposes of defining the term
“unrelated trade or business” for certain exempt organizations under § 513(h)(2), “low cost
articles” are articles costing $10.60 or less.
(2)Other insubstantial benefits. For taxable years beginning in 2016, under § 170, the $5,
$25, and $50 guidelines in section 3 of Rev. Proc. 90 –12, 1990 –1 C.B. 471 (as amplified by
Rev. Proc. 92– 49, 1992–1 C.B. 987, and modified by Rev. Proc. 92–102, 1992–2 C.B. 579),
for the value of insubstantial benefits that may be received by a donor in return for a
contribution, without causing the contribution to fail to be fully deductible, are $10.60, $53,
and $106, respectively.
.30Expatriation to Avoid Tax. For calendar year 2016, under § 877A(g)(1)(A), unless an
exception under § 877A(g)(1)(B) applies, an individual is a covered expatriate if the individual’s
“average annual net income tax” under § 877(a)(2)(A) for the five taxable years ending before the
expatriation date is more than $161,000.
.31Tax Responsibilities of Expatriation. For taxable years beginning in 2016, the amount that
would be includible in the gross income of a covered expatriate by reason of § 877A(a)(1) is
reduced (but not below zero) by $693,000.
.32Foreign Earned Income Exclusion. For taxable years beginning in 2016, the foreign earned
income exclusion amount under § 911(b)(2)(D)(i) is $101,300.
.33Unified Credit Against Estate Tax. For an estate of any decedent dying in calendar year 2016,
the basic exclusion amount is $5,450,000 for determining the amount of the unified credit against
estate tax under § 2010.
.34Valuation of Qualified Real Property in Decedent’s Gross Estate. For an estate of a
decedent dying in calendar year 2016, if the executor elects to use the special use valuation
method under § 2032A for qualified real property, the aggregate decrease in the value of
qualified real property resulting from electing to use § 2032A for purposes of the estate tax
cannot exceed $1,110,000.
.35Annual Exclusion for Gifts.
(1) For calendar year 2016, the first $14,000 of gifts to any person (other than gifts of future
interests in property) are not included in the total amount of taxable gifts under § 2503 made
during that year.
(2) For calendar year 2016, the first $148,000 of gifts to a spouse who is not a citizen of the United
States (other than gifts of future interests in property) are not included in the total amount of
taxable gifts under §§ 2503 and 2523(i)(2) made during that year.
.36Tax on Arrow Shafts. For calendar year 2016, the tax imposed under § 4161(b)(2)(A) on the
first sale by the manufacturer, producer, or importer of any shaft of a type used in the manufacture
of certain arrows is $0.49 per shaft.
.37Passenger Air Transportation Excise Tax. For calendar year 2016, the tax under § 4261(b)(1)
on the amount paid for each domestic segment of taxable air transportation is $4. For calendar
year 2016, the tax under § 4261(c)(1) on any amount paid (whether within or without the United
States) for any international air transportation, if the transportation begins or ends in the United
States, generally is $17.80. Under § 4261(c)(3), however, a lower amount applies under
§ 4261(c)(1) to a domestic segment beginning or ending in Alaska or Hawaii, and the tax applies
only to departures. For calendar year 2016, the rate is $8.90.
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.38Reporting Exception for Certain Exempt Organizations with Nondeductible Lobbying Expen-
ditures. For taxable years beginning in 2016, the annual per person, family, or entity dues
limitation to qualify for the reporting exception under § 6033(e)(3) (and section 5.05 of Rev. Proc.
98 –19, 1998 –1 C.B. 547), regarding certain exempt organizations with nondeductible lobbying
expenditures, is $112 or less.
.39Notice of Large Gifts Received from Foreign Persons. For taxable years beginning in 2016,
§ 6039F authorizes the Treasury Department and the Internal Revenue Service to require
recipients of gifts from certain foreign persons to report these gifts if the aggregate value of gifts
received in the taxable year exceeds $15,671.
.40Persons Against Whom a Federal Tax Lien Is Not Valid. For calendar year 2016, a federal tax
lien is not valid against (1) certain purchasers under § 6323(b)(4) who purchased personal
property in a casual sale for less than $1,530, or (2) a mechanic’s lienor under § 6323(b)(7) who
repaired or improved certain residential property if the contract price with the owner is not more
than $7,630.
.41Property Exempt from Levy. For calendar year 2016, the value of property exempt from levy
under § 6334(a)(2) (fuel, provisions, furniture, and other household personal effects, as well as
arms for personal use, livestock, and poultry) cannot exceed $9,120. The value of property
exempt from levy under § 6334(a)(3) (books and tools necessary for the trade, business, or
profession of the taxpayer) cannot exceed $4,560.
.42Interest on a Certain Portion of the Estate Tax Payable in Installments. For an estate of a
decedent dying in calendar year 2016, the dollar amount used to determine the “2-percent portion”
(for purposes of calculating interest under § 6601(j)) of the estate tax extended as provided in
§ 6166 is $1,480,000.
.43Failure to File Tax Return. For tax years beginning in 2016, the amount of the additional tax
under § 6651(a) for failure to file a tax return within 60 days of the due date of such return
(determined with regard to any extensions of time for filing) shall not be less than the lesser of
$135 or 100 percent of the amount required to shown as tax on such returns.
.44Failure to File Certain Information Returns, Registration Statements, etc. For tax years
beginning in 2016, the penalty amounts under § 6652(c) are:
(1) for failure to file a return required under § 6033(a)(1) (relating to returns by exempt
organization) or § 6012(a)(6) (relating to returns by political organizations):
ScenarioDaily PenaltyMaximum Penalty
Organization (§ 6652(c)(1)(A))$20Lessor of $10,000 or 5% of
gross receipts of the
organization for the year.
Organization with gross receipts
exceeding $1,020,000
(§ 6652(c)(1)(A))
$100$51,000
Managers (§ 6652(c)(1)(B))$10$5,000
Public inspection of annual
returns and reports
(§ 6652(c)(1)(C))
$20$10,000
Public inspection of applications
for exemption and notice of sta-
tus (§ 6652(c)(1)(D))
$20No Limits
(2) for failure to file a return required under § 6034 (relating to returns by certain trust) or
§ 6043(b) (relating to terminations, etc., of exempt organizations):
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ScenarioDaily PenaltyMaximum Penalty
Organization or trust (§ 6652(c)(2)(A))$10$5,000
Managers (§ 6652(c)(2)(B))$10$5,000
Split-Interest Trust (§ 6652(c)(2)(C)(ii))$20$10,000
Any trust with gross receipts exceeding
$255,000 (§ 6652(c)(2)(C)(ii))
$100$51,000
(3) for failure to file a disclosure required under § 6033(a)(2):
ScenarioDaily Penalty Maximum Penalty
Tax–exempt entity (§ 6652(c)(3)(A))$100$51,000
Failure to comply with written demand
(§ 6652(c)(3)(B)(ii))
$100$10,000
.45Other Assessable Penalties With Respect to the Preparation of Tax Returns for Other Persons.
For tax years beginning in 2016, the penalty amounts under § 6695 are:
Scenario
Per Return or Claim for
Refund
Maximum
Penalty
Failure to furnish copy to taxpayer
(§ 6695(a))
$50$25,500
Failure to sign return (§ 6695(b))$50$25,500
Failure to furnish identifying number
(§ 6695(c))
$50$25,500
Failure to retain copy or list (§ 6695(d))$50$25,500
Failure to file correct information returns
(§ 6695(e))
$50 per return or
item in return
$25,500
Negotiation of check (§ 6695(f))$510 per checkNo limit
Failure to be diligent in determining
eligibility for earned income credit
(§ 6695(g))
$510No limit
.46Failure to File Partnership Return. For tax years beginning in 2016, the dollar amount used
to determine amount of the penalty under § 6698(b)(1) is $195.
.47Failure to File S Corporation Return. For tax years beginning in 2016, the dollar amount used
to determine amount of the penalty under § 6699(b)(1) is $195.
.48Failure to File Correct Information Returns. For tax years beginning in 2016, the penalty
amounts under § 6721 are:
(1) for persons with average annual gross receipts for the most recent three taxable years of more
than $5,000,000, for failure to file correct information returns are:
ScenarioPenalty Per Return
Calendar Year
Maximum
General Rule (§ 6721(a)(1))$260$3,193,000
Corrected on or before 30 days after
required filing date (§ 6721(b)(1))
$50$532,000
Corrected after 30
th
day but on or
before August 1 (§ 6721(b)(2))
$100$1,596,500
Bulletin No. 2015– 44November 2, 2015
625

(2) for persons with average annual gross receipts for the most recent three taxable years of
$5,000,000 or less, for failure to file correct information returns are:
ScenarioPenalty Per Return
Calendar Year
Maximum
General Rule (§ 6721(d)(1)(A))$260$1,064,000
Corrected on or before 30 days
after required filing date
(§ 6721(d)(1)(B))
$50$186,000
Corrected after 30
th
day but on
or before August 1
(§ 6721(d)(1)(C))
$100$532,000
(3) for failure to file correct information returns due to intentional disregard of the filing
requirement (or the correct information reporting requirement) are:
ScenarioPenalty Per Return
Calendar Year
Maximum
Return other than a return
required to be filed under
§§ 6045(a), 6041A(b), 6050H,
6050I, 6050J, 6050K, or 6050L
(§ 6721(e)(2)(A))
Greater of (i) $530, or (ii)
10% of aggregate amount of
items required to be
reported correctly
No limit
Return required to be filed under
§§ 6045(a), 6050K, or 6050L
(§ 6721(e)(2)(B))
Greater of (i) $530, or (ii)
5% of aggregate amount of
items required to be
reported correctly
No limit
Return required to be filed under
§ 6050I(a) (§ 6721(e)(2)(C))
Greater of (i) $26,600, or
(ii) amount of cash received
up to $106,000
No limit
Return required to be filed under
§ 6050V (§ 6721(e)(2)(D))
Greater of (i) $260, or (ii)
10% of the value
of the benefit of any con-
tract with respect to which
information is required to
be included on the return
No limit
.49Failure to Furnish Correct Payee Statements. For tax years beginning in 2016, the penalty
amounts under § 6722 are:
(1) for persons with average annual gross receipts for the most recent three taxable years of more
than $5,000,000, for failure to file correct information returns are:
ScenarioPenalty Per Return
Calendar Year
Maximum
General Rule (§ 6722(a)(1))$260$3,193,000
Corrected on or before 30 days af-
ter required filing date
(§ 6722(b)(1))
$50$532,000
Corrected after 30
th
day but on or
before August 1 (§ 6722(b)(2))
$100$1,596,500
(2) for persons with average annual gross receipts for the most recent 3 taxable years of
$5,000,000 or less, for failure to file correct information returns are:
November 2, 2015Bulletin No. 2015– 44
626

ScenarioPenalty Per Return
Calendar Year
Maximum
General Rule (§ 6722(d)(1)(A))$260$1,064,000
Corrected on or before 30 days
after required filing date
(§ 6722(d)(1)(B))
$50$186,000
Corrected after 30
th
day but on
or before August 1
(§ 6722(d)(1)(C))
$100$532,000
(3) for failure to file correct payee statements due to intentional disregard of the requirement to
furnish a payee statement (or the correct information reporting requirement) are:
ScenarioPenalty Per Return
Calendar Year
Maximum
Statement other than a statement
required under §§ 6045(b),
6041A(e) (in respect of a return
required under § 6041A(b)),
6050H(d), 6050J(e), 6050K(b),
or 6050L(c) (§ 6722(e)(2)(A))
Greater of (i) $530, or (ii) 10%
of aggregate amount of items
required to be reported correctly
No limit
Payee statement required under
§§ 6045(b), 6050K(b), or
6050L(c) (§ 6722(e)(2)(B))
Greater of (i) $530, or (ii) 5% of
aggregate amount of items re-
quired to be reported correctly
No limit
.50Attorney Fee Awards. For fees incurred in calendar year 2016, the attorney fee award
limitation under § 7430(c)(1)(B)(iii) is $200 per hour.
.51Periodic Payments Received under Qualified Long-Term Care Insurance Contracts or under
Certain Life Insurance Contracts. For calendar year 2016, the stated dollar amount of the per
diem limitation under § 7702B(d)(4), regarding periodic payments received under a qualified
long-term care insurance contract or periodic payments received under a life insurance contract
that are treated as paid by reason of the death of a chronically ill individual, is $340.
SECTION 4. EFFECTIVE
DATE
.01General Rule. Except as provided in section 4.02, this revenue procedure applies to taxable
years beginning in 2016.
.02Calendar Year Rule. This revenue procedure applies to transactions or events occurring in
calendar year 2016 for purposes of sections 3.08 (rehabilitation expenditures treated as separate
new building), 3.09 (low-income housing credit), 3.13 (transportation mainline pipeline construc-
tion industry optional expense substantiation rules for payments to employees under accountable
plans), 3.20 (private activity bonds volume cap), 3.21 (loan limits on agricultural bonds), 3.22
(general arbitrage rebate rules), 3.23 (safe harbor rules for broker commissions on guaranteed
investment contracts or investments purchased for a yield restricted defeasance escrow), 3.30
(expatriation to avoid tax), 3.33 (unified credit against estate tax), 3.34 (valuation of qualified real
property in decedent’s gross estate), 3.35 (annual exclusion for gifts), 3.36 (tax on arrow shafts),
3.37 (passenger air transportation excise tax), 3.40 (persons against whom a federal tax lien is not
valid), 3.41 (property exempt from levy), 3.42 (interest on a certain portion of the estate tax
payable in installments), 3.50 (attorney fee awards), and 3.51 (periodic payments received under
qualified long-term care insurance contracts or under certain life insurance contracts).
SECTION 5. DRAFTING
INFORMATION
The principal author of this revenue procedure is William Ruane of the Office of Associate Chief
Counsel (Income Tax & Accounting). For further information regarding this revenue procedure,
contact Mr. Ruane at (202) 317-4718 (not a toll-free number).
Bulletin No. 2015– 44November 2, 2015
627

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
effect:
Amplifieddescribes a situation where
no change is being made in a prior pub-
lished position, but the prior position is
being extended to apply to a variation of
the 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 with
modified, below).
Clarifiedis used in those instances
where the language in a prior ruling is
being made clear because the language
has caused, or may cause, some confu-
sion. 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
with amplified andclarified, 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
being stated in a new ruling.
Supersededdescribes a situation where
the new ruling does nothing more than
restate the substance and situation of a
previously published ruling (or rulings).
Thus, the term is used to republish under
the 1986 Code and regulations the same
position published under the 1939 Code
and regulations. The term is also used
when it is desired to republish in a single
ruling a series of situations, names, etc.,
that were previously published over a pe-
riod of time in separate rulings. If the new
ruling does more than restate the sub-
stance of a prior ruling, a combination of
terms is used. For example, modified and
supersededdescribes 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
published 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
ruling has been supplemented several
times, a new ruling may be published that
includes the list in the original ruling and
the additions, and supersedes all prior rul-
ings in the series.
Suspendedis used in rare situations to
show that the previous published rulings
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 following abbreviations in current
use and formerly used will appear in ma-
terial published in the Bulletin.
A—Individual.
Acq.—Acquiescence.
B—Individual.
BE—Beneficiary.
BK—Bank.
B.T.A.—Board of Tax Appeals.
C—Individual.
C.B.—Cumulative Bulletin.
CFR—Code of Federal Regulations.
CI—City.
COOP—Cooperative.
Ct.D.—Court Decision.
CY—County.
D—Decedent.
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—Employer.
ERISA—Employee Retirement Income Security Act.
EX—Executor.
F—Fiduciary.
FC—Foreign Country.
FICA—Federal Insurance Contributions Act.
FISC—Foreign International Sales Company.
FPH—Foreign Personal Holding Company.
F.R.—Federal Register.
FUTA—Federal Unemployment Tax Act.
FX—Foreign corporation.
G.C.M.—Chief Counsel’s Memorandum.
GE—Grantee.
GP—General Partner.
GR—Grantor.
IC—Insurance Company.
I.R.B.—Internal Revenue Bulletin.
LE—Lessee.
LP—Limited Partner.
LR—Lessor.
M—Minor.
Nonacq.—Nonacquiescence.
O—Organization.
P—Parent Corporation.
PHC—Personal Holding Company.
PO—Possession of the U.S.
PR—Partner.
PRS—Partnership.
PTE
—Prohibited Transaction Exemption.
Pub. L.—Public Law.
REIT—Real Estate Investment Trust.
Rev. Proc.—Revenue Procedure.
Rev. Rul.—Revenue Ruling.
S—Subsidiary.
S.P.R.—Statement of Procedural Rules.
Stat.—Statutes at Large.
T—Target Corporation.
T.C.—Tax Court.
T.D.—Treasury Decision.
TFE—Transferee.
TFR—Transferor.
T.I.R.—Technical Information Release.
TP—Taxpayer.
TR—Trust.
TT—Trustee.
U.S.C.—United States Code.
X—Corporation.
Y—Corporation.
Z—Corporation.
Bulletin No. 2015– 44November 2, 2015
i

Numerical Finding List
1
Bulletins 2015–27 through 2015– 44
Announcements:
2015-17, 2015-28 I.R.B.67
2015-18, 2015-33 I.R.B.198
2015-19, 2015-32 I.R.B.157
2015-20, 2015-38 I.R.B.355
2015-21, 2015-34 I.R.B.220
2015-22, 2015-35 I.R.B.288
2015-23, 2015-36 I.R.B.311
2015-24, 2015-36 I.R.B.313
2015-25, 2015-39 I.R.B.422
Notices:
2015-43, 2015-29 I.R.B.73
2015-46, 2015-28 I.R.B.64
2015-47, 2015-30 I.R.B.76
2015-48, 2015-30 I.R.B.77
2015-49, 2015-30 I.R.B.79
2015-50, 2015-30 I.R.B.81
2015-51, 2015-31 I.R.B.133
2015-52, 2015-35 I.R.B.227
2015-53, 2015-33 I.R.B.190
2015-54, 2015-34 I.R.B.210
2015-55, 2015-34 I.R.B.217
2015-56, 2015-35 I.R.B.235
2015-57, 2015-36 I.R.B.294
2015-58, 2015-37 I.R.B.322
2015-59, 2015-40 I.R.B.459
2015-60, 2015-43 I.R.B.604
2015-61, 2015-39 I.R.B.408
2015-62, 2015-39 I.R.B.411
2015-63, 2015-40 I.R.B.461
2015-64, 2015-40 I.R.B.464
2015-65, 2015-40 I.R.B.466
2015-66, 2015-41 I.R.B.541
2015-67, 2015-41 I.R.B.546
2015-68, 2015-41 I.R.B.547
2015-69, 2015-41 I.R.B.550
2015-70, 2015-43 I.R.B.604
2015-71, 2015-43 I.R.B.606
2015-72, 2015-44 I.R.B.613
Proposed Regulations:
REG-136459-09, 2015-37 I.R.B.332
REG-155164-09, 2015-41 I.R.B.560
REG-109370-10, 2015-33 I.R.B.198
REG-112997-10, 2015-39 I.R.B.422
REG-103033-11, 2015-37 I.R.B.325
REG-109813-11, 2015-37 I.R.B.330
REG-138344-13, 2015-41 I.R.B.557
REG-139483-13, 2015-40 I.R.B.475
REG-115452-14, 2015-32 I.R.B.158
REG-127895-14, 2015-41 I.R.B.556
REG-132075-14, 2015-35 I.R.B.288
REG-138526-14, 2015-28 I.R.B.67
Proposed Regulations:—Continued
REG-143800-14, 2015-37 I.R.B.347
REG-102648-15, 2015-31 I.R.B.134
REG-102837-15, 2015-27 I.R.B.43
REG-123640-15, 2015-37 I.R.B.350
Revenue Procedures:
2015-34, 2015-27 I.R.B.4
2015-36, 2015-27 I.R.B.20
2015-38, 2015-36 I.R.B.295
2015-39, 2015-33 I.R.B.195
2015-40, 2015-35 I.R.B.236
2015-41, 2015-35 I.R.B.263
2015-42, 2015-36 I.R.B.310
2015-43, 2015-40 I.R.B.467
2015-44, 2015-38 I.R.B.354
2015-45, 2015-39 I.R.B.412
2015-46, 2015-39 I.R.B.414
2015-47, 2015-39 I.R.B.419
2015-48, 2015-40 I.R.B.469
2015-49, 2015-41 I.R.B.555
2015-50, 2015-42 I.R.B.583
2015-51, 2015-42 I.R.B.583
2015-53, 2015-44 I.R.B.615
Revenue Rulings:
2015-15, 2015-27 I.R.B.1
2015-16, 2015-31 I.R.B.130
2015-17, 2015-39 I.R.B.358
2015-18, 2015-34 I.R.B.209
2015-19, 2015-36 I.R.B.291
2015-20, 2015-38 I.R.B.353
2015-21, 2015-40 I.R.B.447
2015-22, 2015-44 I.R.B.610
Treasury Decisions:
9723, 2015-31 I.R.B.84
9726, 2015-31 I.R.B.98
9727, 2015-32 I.R.B.154
9728, 2015-33 I.R.B.169
9729, 2015-35 I.R.B.221
9730, 2015-35 I.R.B.223
9731, 2015-37 I.R.B.314
9732, 2015-39 I.R.B.371
9733, 2015-41 I.R.B.494
9734, 2015-41 I.R.B.500
9735, 2015-37 I.R.B.316
9736, 2015-39 I.R.B.402
9737, 2015-40 I.R.B.449
9738, 2015-40 I.R.B.453
9739, 2015-41 I.R.B.528
9740, 2015-42 I.R.B.573
1
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2015– 01 through 2015–26 is in Internal Revenue Bulletin
2015–26, dated June 29, 2015.
November 2, 2015Bulletin No. 2015– 44
ii

Finding List of Current Actions on
Previously Published Items
1
Bulletins 2015–27 through 2015– 44
Notices:
2014-4
Modified by
Notice 2015-51, 2015-31 I.R.B.133
2014-17
Superseded by
Notice 2015-67, 2015-41 I.R.B.546
Proposed Regulations:
2009-57
Obsoleted by
REG-112997-10 2015-39 I.R.B.422
Revenue Procedures:
1992-75
Clarified by
Rev. Proc. 2015-40, 2015-35 I.R.B.236
2003-40
Modified by
Rev. Proc. 2015-40, 2015-35 I.R.B.236
2003-78
Modified by
Rev. Proc. 2015-46, 2015-39 I.R.B.414
2006-9
Modified by
Rev. Proc. 2015-41, 2015-35 I.R.B.263
2006-9
Superseded by
Rev. Proc. 2015-41, 2015-35 I.R.B.263
2006-54
Modified by
Rev. Proc. 2015-40, 2015-35 I.R.B.236
2006-54
Superseded by
Rev. Proc. 2015-40, 2015-35 I.R.B.236
2008-31
Modified by
Rev. Proc. 2015-41, 2015-35 I.R.B.263
2008-31
Superseded by
Rev. Proc. 2015-41, 2015-35 I.R.B.263
2011-49
Modified by
Rev. Proc. 2015-36, 2015-27 I.R.B.20
Revenue Procedures:—Continued
2011-49
Superseded by
Rev. Proc. 2015-36, 2015-27 I.R.B.20
2015-14
Modified by
Rev. Proc. 2015-39, 2015-33 I.R.B.195
2015-40
Amplified by
Rev. Proc. 2015-41, 2015-35 I.R.B.263
2015-41
Amplified by
Rev. Proc. 2015-40, 2015-35 I.R.B.236
Treasury Decisions:
58-422
Obsoleted by
T.D. 9739 2015-41 I.R.B.528
66-284
Obsoleted by
T.D. 9739 2015-41 I.R.B.528
79-250
Obsoleted by
T.D. 9739 2015-41 I.R.B.528
79-289
Obsoleted by
T.D. 9739 2015-41 I.R.B.528
96-29
Obsoleted by
T.D. 9739 2015-41 I.R.B.528
1
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2015– 01 through 2015–26 is in Internal Revenue Bulletin
2015–26, dated June 29, 2015.
Bulletin No. 2015– 44November 2, 2015
iii

INTERNAL REVENUE BULLETIN
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