Internal Revenue Bulletin 2001-35 (PDF rendition): IRS Notices

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.

SPECIAL ANNOUNCEMENT
Announcement 2001–87, page 208.
This announcement informs the public when and where IRS
seminars providing tax law and magnetic media/electronic
filing information for Forms 1042-S, Foreign Person’s U.S.
Source Income Subject to Withholding, are being held. The
announcement also provides the telephone number and e-
mail address that can be used to register and obtain addi-
tional information.
INCOME TAX
Rev. Rul. 2001–41, page 193.
LIFO; price indexes; department stores. The June 2001
Bureau of Labor Statistics price indexes are accepted for
use by department stores employing the retail inventory and
last-in, first-out inventory methods for valuing inventories for
tax years ended on, or with reference to, June 30, 2001.
T.D. 8961, page 194.
REG–103735–00, REG–110311–98, REG–103736–00,
page 204.
Temporary and proposed regulations provide the public with
additional guidance to comply with the disclosure rules
under section 6011(a) of the Code, the registration require-
ment under section 6111(d), and the list maintenance
requirement under section 6112 applicable to tax shelters.
T.D. 8962, page 201.
Final regulations amend section 301.7701–7 of the regula-
tions to provide that certain listed trusts are deemed to sat-
isfy the control test for treatment as domestic trusts for fed-
eral tax purposes if U.S. trustees control all of the substan-
tial decisions made by the trustees of the trusts.
EMPLOYEE PLANS
T.D. 8962, page 201.
Final regulations amend section 301.7701–7 of the regula-
tions to provide that certain listed trusts are deemed to sat-
isfy the control test for treatment as domestic trusts for
federal tax purposes if U.S. trustees control all of the sub-
stantial decisions made by the trustees of the trusts.
Notice 2001–52, page 203.
Weighted average interest rate update. The weighted
average interest rate for August 2001 and the resulting per-
missible range of interest rates used to calculate current lia-
bility for purposes of the full funding limitation of section
412(c)(7) of the Code are set forth.
Announcement 2001–83, page 205.
Employee Plans (EP) determination letters; future of
program. The Service invites the public to participate in a
dialogue on the long-term future of the EP determination let-
ter program and gives an Internet address to download a
white paper that is available to begin that dialogue.
EXEMPT ORGANIZATIONS
Announcement 2001–84, page 206.
A list is provided of organizations now classified as private
foundations.
Internal Revenue
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Bulletin No. 2001–35
August 27, 2001
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.
Department of the Treasury
Internal Revenue Service
Finding Lists begin on page ii.
(Continued on the next page)

August 27, 20012001–35 I.R.B.
EXCISE TAX
T.D. 8963, page 197.
Final regulations under section 6302(a) of the Code simplify
the requirements for excise tax returns, payments, and
deposits. The regulations provide for one filing date for quar-
terly returns; one deposit date for all taxes other than air
transportation and communications taxes under the alterna-
tive method; and a deposit requirement for each semi-
monthly period of 95 percent of liability incurred unless the
look-back safe harbor rule is met.
ADMINISTRATIVE
T.D. 8961, page 194.
REG–103735–00, REG–110311–98, REG–103736–00,
page 204.
Temporary and proposed regulations provide the public with
additional guidance to comply with the disclosure rules
under section 6011(a) of the Code, the registration require-
ment under section 6111(d), and the list maintenance
requirement under section 6112 applicable to tax shelters.
Rev. Proc. 2001–44, page 203.
Low-income housing tax credit. This procedure publishes
the unused housing credit carryover amounts allocated to
qualified states under section 42(h)(3)(D) of the Code for cal-
endar year 2001.
Announcement 2001–86, page 207.
This document contains corrections to proposed regulations
(REG–106917–99, 2001–27 I.R.B. 4) relating to certain
adoptions, changes, and retentions of annual accounting
periods.
Announcement 2001–90, page 208.
This document contains corrections to final regulations (T.D.
8948, 2001–28 I.R.B. 27) relating to the minimum cost
requirement under section 420 of the Code, which permits
the transfer of excess assets of a defined benefit pension
plan to a retiree health account.

2001–35 I.R.B.August 27, 2001
The Internal Revenue Bulletin is the authoritative instrument
of the Commissioner of Internal Revenue for announcing offi-
cial rulings and procedures of the Internal Revenue Service
and for publishing Treasury Decisions, Executive Orders, Tax
Conventions, 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 consolidated 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,
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 in-
ternal management 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 pub-
lished rulings and procedures, the effect of subsequent leg-
islation, regulations, court decisions, rulings, and proce-
dures must be considered, and Service personnel and oth-
ers concerned are cautioned against reaching the same con-
clusions 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,
Legislation 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 Sub-
parts. Also included in this part are Bank Secrecy Act Admin-
istrative Rulings. Bank Secrecy Act Administrative Rulings
are issued by the Department of the Treasury’s Office of the
Assistant Secretary (Enforcement).
Part IV.—Items of General Interest.
This part includes notices of proposed rulemakings, disbar-
ment and suspension lists, and announcements.
The first 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 first Bulletin of the succeeding semi-
annual period, respectively.
The IRS Mission
Provide America’s taxpayers top quality service by help-
ing them understand and meet their tax responsibilities
and by applying the tax law with integrity and fairness to
all.
Introduction
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.
For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402.

Section 472.—Last-in, First-out
Inventories
26 CFR 1.472–1: Last-in, first-out inventories.
LIFO; price indexes; department
stores. The June 2001 Bureau of Labor
Statistics price indexes are accepted for
use by department stores employing the
retail inventory and last-in, first-out in-
ventory methods for valuing inventories
for tax years ended on, or with reference
to, June 30, 2001.
Rev. Rul. 2001–41
The following Department Store In-
ventory Price Indexes for June 2001
were issued by the Bureau of Labor Sta-
tistics. The indexes are accepted by the
Internal Revenue Service, under
§ 1.472–1(k) of the Income Tax Regula-
tions and Rev. Proc. 86–46 (1986–2
C.B. 739) for appropriate application to
inventories of department stores em-
ploying the retail inventory and last-in,
first-out inventory methods for tax years
ended on, or with reference to, June 30,
2001.
The Department Store Inventory Price
Indexes are prepared on a national basis
and include (a) 23 major groups of depart-
ments, (b) three special combinations of
the major groups - soft goods, durable
goods, and miscellaneous goods, and (c) a
store total, which covers all departments,
including some not listed separately, ex-
cept for the following: candy, food,
liquor, tobacco, and contract departments.
2001–35 I.R.B.193August 27, 2001
Part I. Rulings and Decisions Under the Internal Revenue Code of 1986
BUREAU OF LABOR STATISTICS, DEPARTMENT STORE
INVENTORY PRICE INDEXES BY DEPARTMENT GROUPS
(January 1941 = 100, unless otherwise noted)
Percent Change
GroupsJuneJunefrom June 2000
20002001to June 2001
1
1. Piece Goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .496.1478.7-3.5
2. Domestics and Draperies . . . . . . . . . . . . . . . . . . . . . . . . . . . . .615.8603.2-2.0
3. Women’s and Children’s Shoes . . . . . . . . . . . . . . . . . . . . . . . .626.5644.82.9
4. Men’s Shoes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .926.1888.8-4.0
5. Infants’ Wear . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .642.2605.2-5.8
6. Women’s Underwear . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .568.3562.2-1.1
7. Women’s Hosiery . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .334.2354.0 5.9
8. Women’s and Girls’ Accessories . . . . . . . . . . . . . . . . . . . . . . .538.3547.31.7
9. Women’s Outerwear and Girls’ Wear . . . . . . . . . . . . . . . . . . . .385.0378.1-1.8
10. Men’s Clothing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .613.5582.1-5.1
11. Men’s Furnishings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .621.5599.6-3.5
12. Boys’ Clothing and Furnishings . . . . . . . . . . . . . . . . . . . . . . .491.7488.5 -0.7
13. Jewelry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .924.3936.81.4
14. Notions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .768.3780.71.6
15. Toilet Articles and Drugs . . . . . . . . . . . . . . . . . . . . . . . . . . . .971.1963.4-0.8
16. Furniture and Bedding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .670.6639.9-4.6
17. Floor Coverings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .607.9615.41.2
18. Housewares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .780.7767.7-1.7
19. Major Appliances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .233.6225.9-3.3
20. Radio and Television . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .59.853.9-9.9
21. Recreation and Education
2
. . . . . . . . . . . . . . . . . . . . . . . . . . .93.090.1-3.1
22. Home Improvements
2
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .128.2124.7-2.7
23. Auto Accessories
2
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .106.3109.12.6
Groups 1 - 15: Soft Goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .592.9584.1-1.5
Groups 16 - 20: Durable Goods . . . . . . . . . . . . . . . . . . . . . . . . . .438.1422.5-3.6
Groups 21 - 23: Misc. Goods
2
. . . . . . . . . . . . . . . . . . . . . . . . . . .100.298.5-1.7
Store Total
3
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .534.9524.5-1.9
1
Absence of a minus sign before the percentage change in this column signifies a price increase.
2
Indexes on a January 1986=100 base.
3
The store total index covers all departments, including some not listed separately, except for the following: candy, food, liquor, tobacco, and contract depart-
ments.

DRAFTING INFORMATION
The principal author of this revenue
ruling is Alan J. Tomsic of the Office of
Associate Chief Counsel (Income Tax and
Accounting). For further information re-
garding this revenue ruling, contact Mr.
Tomsic at (202) 622-4930 (not a toll-free
call).
Section 6011.—General
Requirement of Return,
Statement, or List
26 CFR 1.6011–4T: Requirement of statement
disclosing participation in certain transactions by
corporate taxpayers (Temporary)
T.D. 8961
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Parts 1 and 301
Modification of Tax Shelter
Rules II
AGENCY: Internal Revenue Service
(IRS), Treasury.
ACTION: Temporary regulations.
SUMMARY: These temporary regula-
tions modify the rules relating to the re-
quirement that certain corporate taxpayers
file a statement with their Federal corpo-
rate income tax returns under section
6011(a) and the registration of confiden-
tial corporate tax shelters under section
6111(d). These regulations provide the
public with additional guidance needed to
comply with the disclosure rules under
section 6011(a), the registration require-
ment under section 6111(d), and the list
maintenance requirement under section
6112 applicable to tax shelters. The tem-
porary regulations affect corporations
participating in certain reportable transac-
tions, persons responsible for registering
confidential corporate tax shelters, and
organizers of potentially abusive tax shel-
ters. The text of these temporary regula-
tions also serves as the text of the pro-
posed regulations set forth in the notice of
proposed rulemaking (REG–103735–00,
REG–110311–98, and REG–103736–00)
on page 204 in this issue of the Bulletin.
DATES: Effective Date: These temporary
regulations are effective August 2, 2001.
Applicability Date: For dates of applica-
bility, see §1.6011–4T(g) and §301.6111–
2T(h).
FOR FURTHER INFORMATION CON-
TACT: Danielle M. Grimm (202) 622-
3080 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
This document amends 26 CFR parts 1
and 301 to provide modified rules relating
to the disclosure of certain reportable
transactions by corporate investors on
their Federal corporate income tax returns
under section 6011 and the registration of
confidential corporate tax shelters under
section 6111.
On February 28, 2000, the IRS issued
temporary and proposed regulations re-
garding section 6011 (T.D. 8877, 2000–11
I.R.B. 747; REG–103735–00, 2000–11
I.R.B. 770), section 6111 (T.D. 8876,
2000–11 I.R.B. 753; REG–110311–98,
2000–11 I.R.B. 767), and section 6112
(T.D. 8875, 2000–11 I.R.B. 761; REG–
103736–00, 2000–11 I.R.B. 768) (collec-
tively, the February regulations). The
February regulations were published in
the Federal Register(65 FR 11205, 65
FR 11215, 65 FR 11211) on March 2,
2000. On August 11, 2000, the IRS is-
sued temporary and proposed regulations
regarding sections 6011, 6111, and 6112
(T.D. 8896, 2000–36 I.R.B. 249;
REG–103735–00, REG–110311–98,
REG–103736–00, 2000–36 I.R.B. 258)
(collectively, the August regulations).
The August regulations were published in
the Federal Register(65 FR 49909) on
August 16, 2000, modifying the February
regulations.
Based on comments that have been re-
ceived, the IRS and Treasury have deter-
mined that certain additional interim
changes to the temporary and proposed
regulations are warranted. The changes in
the proposed rules are published on page
204 in this issue of the Bulletin.
These interim changes are intended to
assist taxpayers and ease tax administra-
tion by simplifying and clarifying certain
provisions of the regulations, addressing
certain practical problems relating to
compliance with the regulations, and
making certain other changes relating to
the scope of the regulations. The IRS and
Treasury continue to evaluate all the com-
ments and recommendations received,
and other changes may be made in the
final regulations.
Explanation of Provisions
1. Different Foreign Tax Treatment
Characteristic in §1.6011–4T(b)(3)(i)(F)
Under section 6011, reportable transac-
tions include listed transactions and trans-
actions that have at least two of six speci-
fied characteristics. One of the
characteristics is present if the expected
characterization of any significant aspect of
the transaction for Federal income tax pur-
poses differs from the expected characteri-
zation of such aspect of the transaction for
purposes of taxation of any party to the
transaction in another country. Commenta-
tors have suggested that the inclusion of
this characteristic causes the regulations to
be overinclusive. Based on these com-
ments and further review, the IRS and Trea-
sury have removed this characteristic from
the temporary and proposed regulations.
2. Clarification of Exceptions Under
§1.6011–4T
a. “Long-standing and generally ac-
cepted exception” in §1.6011–4T(b)
(3)(ii)(B)
The temporary regulations under sec-
tion 6011 provide that a transaction, other
than a listed transaction, is not a reportable
transaction if one of four exceptions is sat-
isfied. One exception applies if the tax-
payer has participated in the transaction in
the ordinary course of its business in a
form consistent with customary commer-
cial practice, and the taxpayer reasonably
determines that there is a long-standing
and generally accepted understanding that
the expected Federal income tax benefits
(taking into account any combination of
intended tax consequences) from the
transaction are allowable under the Code
for substantially similar transactions.
Commentators have requested addi-
tional guidance on the meaning of the
phrase “long-standing and generally ac-
cepted” that is contained in this exception.
This exception is intended to apply to
transactions the structure of which is cus-
tomary and the intended tax treatment of
which is widely known and generally ac-
cepted as properly allowable under the In-
ternal Revenue Code. Ordinarily, a deter-
mination as to whether the intended tax
August 27, 20011942001–35 I.R.B.

2001–35 I.R.B.195August 27, 2001
treatment of a transaction has achieved
such a level of general acceptance cannot
be made unless information relating to the
structure and tax treatment of substantially
similar transactions has been in the public
domain and widely known for a period of
years. However, the applicability of this
exception does not depend on such general
acceptance having existed for any mini-
mum period of time. Accordingly, the IRS
and Treasury have eliminated the phrase
“long-standing” from the exception and
have added language to clarify the scope of
the exception. Corresponding changes
have been made in §301.6111–2T.
b.“No reasonable basis exception” in
§1.6011–4T(b)(3)(ii)(C)
This exception generally provides that a
transaction, other than a listed transaction,
is not reportable if the taxpayer reasonably
determines that there is no reasonable basis
under Federal tax law for denial of any sig-
nificant portion of the expected Federal in-
come tax benefits from the transaction.
Commentators have requested additional
guidance on the no reasonable basis deter-
mination. Accordingly, the regulations
clarify that for purposes of this exception,
whether the IRS would have a reasonable
basis for its position is to be determined by
applying the same standard as that applica-
ble to taxpayers under §1.6662–3(b)(3).
Thus, the reasonable basis standard is not
satisfied by an IRS position that would be
merely arguable or that would constitute
merely a colorable claim. The determina-
tion of whether the IRS would have such a
reasonable basis is qualitative in nature and
does not depend on any percentage or
other quantitative assessment of the likeli-
hood that the taxpayer would ultimately
prevail if a significant portion of the ex-
pected tax benefits were disallowed by the
IRS. Corresponding changes have been
made to newly redesignated §301.6111–
2T(b)(4)(i).
3. Economic Substance Test
Commentators have suggested that the
economic substance test, as articulated in
§301.6111–2T(b)(3), may encompass
transactions for which registration pursuant
to section 6111(d) or list maintenance under
section 6112 would not be appropriate.
Further, the IRS and Treasury believe that
substantially all transactions encompassed
by the economic substance test for which
registration and list maintenance are appro-
priate will constitute other tax structured
transactions within the meaning of
§301.6111–2T(b)(4). Accordingly, the
economic substance test as described in
§301.6111–2T(b)(3) is removed from the
temporary and proposed regulations under
section 6111.
4. Presumption Against Confidentiality
Section 301.6111–2T(c)(3) contains a
presumption that, unless facts and circum-
stances clearly indicate otherwise, an offer
is not considered made under conditions of
confidentiality if the tax shelter promoter
provides express written authorization to
each offeree permitting the offeree (and
each employee, representative, or other
agent of such offeree) to disclose the struc-
ture and tax aspects of the transaction to
any and all persons, without limitation of
any kind on such disclosure. There has
been a request to clarify the phrase “to dis-
close the structure and tax aspects of the
transaction.” Accordingly, the IRS and
Treasury have added language to clarify
that this phrase is to be construed broadly
and includes all materials (including opin-
ions or other tax analyses) that are pro-
vided to the offeree related to the structure
and tax aspects of the transaction.
5. Tax Shelter Registration in §301.6111–
2T(e)(2)(ii)(E)
The August regulations provided that
the Form 8264, “Application for Regis-
tration of a Tax Shelter,”was to be filed
with the Kansas City Service Center. Re-
cently, the Service issued Announcement
2001–62 (2001–24 I.R.B. 1337) instruct-
ing taxpayers to file these forms with the
Ogden Service Center. The instructions
to Form 8264 will be revised to reflect the
change in filing location. Accordingly,
the regulations are amended to provide
that the Form 8264 is to be filed as pre-
scribed in the instructions to the form.
6. Effective Date
The regulations are applicable August
2, 2001. However, in general, taxpayers
may rely on the regulations after February
28, 2000.
Special Analyses
It has been determined that this Treasury
decision is not a significant regulatory ac-
tion as defined in Executive Order 12866.
Therefore, a regulatory assessment is not
required. It has also been determined that
section 553(b) of the Administrative Proce-
dure Act (5 U.S.C. chapter 5) does not
apply to these regulations, and because
these regulations impose no new collection
of information on small entities, a Regula-
tory Flexibility Analysis under the Regula-
tory Flexibility Act (5 U.S.C. chapter 6) is
not required. Pursuant to section 7805(f) of
the Internal Revenue Code, these tempo-
rary regulations will be submitted to the
Chief Counsel for Advocacy of the Small
Business Administration for comment on
their impact on small business.
Drafting Information
The principal author of these regulations
is Danielle M. Grimm, Office of the Asso-
ciate Chief Counsel (Passthroughs and
Special Industries). However, other per-
sonnel from the IRS and Treasury Depart-
ment participated in their development.
* * * * *
Adoption of Amendments to the
Regulations
Accordingly, 26 CFR parts 1 and 301
are amended as follows:
PART 1—INCOME TAXES
Paragraph 1. The authority citation for
part 1 continues to read in part as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.6011–4T is amended
as follows:
1. Paragraph (b)(3)(i)(F) is removed.
2. Paragraphs (b)(3)(ii)(B) and (C) are
revised.
3. Paragraph (b)(5) is amended by re-
moving the language “long-standing and”
from the fifth sentence in Example 1and
the seventh sentence in Example 3.
4. Paragraph (g) is revised.
The revisions and addition read as fol-
lows:
§1.6011–4T Requirement of statement
disclosing participation in certain
transactions by corporate taxpayers
(Temporary).
* * * * *
(b) * * *
(3) * * *
(ii) * * *
(B) The taxpayer has participated in the
transaction in the ordinary course of its

August 27, 20011962001–35 I.R.B.
business in a form consistent with cus-
tomary commercial practice, and the tax-
payer reasonably determines that there is
a generally accepted understanding that
the taxpayer’s intended tax treatment of
the transaction (taking into account any
combination of intended tax conse-
quences) is properly allowable under the
Internal Revenue Code for substantially
similar transactions. There is no mini-
mum period of time for which such a
generally accepted understanding must
exist. In general, however, a taxpayer
cannot reasonably determine whether the
intended tax treatment of a transaction
has become generally accepted unless in-
formation relating to the structure and
tax treatment of such transactions has
been in the public domain (e.g., rulings,
published articles, etc.) and widely
known for a sufficient period of time (or-
dinarily a period of years) to provide
knowledgeable tax practitioners and the
IRS reasonable opportunity to evaluate
the intended tax treatment. The mere
fact that the taxpayer may have received
an opinion or advice from one or more
knowledgeable tax practitioners to the
effect that the taxpayer’s intended tax
treatment of the transaction should or
will be sustained, if challenged by the
IRS, is not sufficient to satisfy
the requirements of this paragraph
(b)(3)(ii)(B).
(C) The taxpayer reasonably deter-
mines that there is no reasonable basis
under Federal tax law for denial of any
significant portion of the expected Fed-
eral income tax benefits from the transac-
tion. This paragraph (b)(3)(ii)(C) applies
only if the taxpayer reasonably deter-
mines that there is no basis that would
meet the standard applicable to taxpayers
under §1.6662–3(b)(3) under which the
IRS could disallow any significant por-
tion of the expected Federal income tax
benefits of the transaction. Thus, the rea-
sonable basis standard is not satisfied by
an IRS position that would be merely ar-
guable or that would constitute merely a
colorable claim. However, the taxpayer’s
determination of whether the IRS would
or would not have a reasonable basis for
such a position must take into account the
entirety of the transaction and any combi-
nation of tax consequences that are ex-
pected to result from any component steps
of the transaction, must not be based on
any unreasonable or unrealistic factual as-
sumptions, and must take into account all
relevant aspects of Federal tax law, in-
cluding the statute and legislative history,
treaties, administrative guidance, and ju-
dicial decisions that establish principles
of general application in the tax law (e.g.,
Gregory v. Helvering, 293 U.S. 465
(1935)). The determination of whether
the IRS would or would not have such a
reasonable basis is qualitative in nature
and does not depend on any percentage or
other quantitative assessment of the likeli-
hood that the taxpayer would ultimately
prevail if a significant portion of the ex-
pected tax benefits were disallowed by
the IRS.
* * * * *
(g) Effective date. This section applies
to Federal corporate income tax returns
filed after February 28, 2000. However,
paragraphs (b)(3)(ii)(B), (b)(3)(ii)(C), and
(b)(5) Examples 1and 3, of this section
apply to Federal corporate income tax re-
turns filed after August 2, 2001. Taxpay-
ers may rely on the rules in paragraphs
(b)(3)(ii)(B), (b)(3)(ii)(C), and (b)(5) Ex-
amples 1and 3, of this section for Federal
corporate income tax returns filed after
February 28, 2000. Otherwise, the rules
that apply with respect to Federal corpo-
rate income tax returns filed after Febru-
ary 28, 2000, and on or before August 2,
2001, are contained in §1.6011–4T in ef-
fect prior to August 2, 2001 (see 26 CFR
part 1 revised as of April 1, 2001).
PART 301—PROCEDURE AND
ADMINISTRATION
Par. 3. The authority citation for part
301 continues to read in part as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 4. Section 301.6111–2T is
amended as follows:
1. Paragraph (b)(1) is revised.
2. Paragraph (b)(3) is removed.
3. Paragraphs (b)(4), (b)(5), (b)(6) and
(b)(7) are redesignated paragraphs (b)(3),
(b)(4), (b)(5) and (b)(6), respectively.
4. Newly redesignated paragraph
(b)(3) introductory text is amended by re-
vising the reference to “(b)(4)” with
“(b)(3).”
5. Newly redesignated paragraph
(b)(3)(ii) is revised.
6. Newly redesignated paragraph
(b)(4) introductory text is amended by re-
moving the reference “(b)(5)(i)” and
adding “(b)(4)(i)” in its place.
7. Newly redesignated paragraph
(b)(4)(i) is revised.
8. Newly redesignated paragraph
(b)(4)(ii) is amended by removing the ref-
erence “(b)(6)” and adding “(b)(5)” in its
place.
9. Newly redesignated paragraph
(b)(6) is amended as follows:
a. Paragraph (b)(6), introductory text,
is revised.
b. Example 1is removed.
c. “Example 2.” is redesignated as “Ex-
ample.”
d. The language “long-standing and” is
removed from paragraph (i) in the newly
redesignated Example.
e. The fourth sentence of paragraph (i)
in the newly redesignated Exampleis re-
moved.
f. Paragraph (ii) in the newly redesig-
nated “Example” is revised.
10. Paragraphs (c)(3) and (e)(2)(ii)(E)
are revised.
11. Paragraph (h) is amended by
adding 3 sentences at the end.
The revisions and additions read as fol-
lows:
§301.6111–2T Confidential corporate
tax shelters (temporary).
* * * * *
(b) * * * (1)In general. The avoidance
or evasion of Federal income tax will be
considered a significant purpose of the
structure of a transaction if the transaction
is described in paragraph (b)(2) or (3) of
this section. However, a transaction de-
scribed in paragraph (b)(3) of this section
need not be registered if the transaction is
described in paragraph (b)(4) of this sec-
tion. For purposes of this section, Fed-
eral income tax benefits include deduc-
tions, exclusions from gross income,
nonrecognition of gain, tax credits, ad-
justments (or the absence of adjustments)
to the basis of property, and any other tax
consequences that may reduce a tax-
payer’s Federal income tax liability by af-
fecting the timing, character, or source of
any item of income, gain, deduction, loss,
or credit.
* * * * *
(3) * * *
(ii) There is a generally accepted un-
derstanding that the expected Federal in-
come tax benefits from the transaction
(taking into account any combination of

2001–35 I.R.B.197August 27, 2001
intended tax consequences) are properly
allowable under the Internal Revenue
Code for substantially similar transac-
tions. There is no minimum period of
time for which such a generally accepted
understanding must exist. In general,
however, a tax shelter promoter (or other
person who would be responsible for reg-
istration under this section) cannot reason-
ably determine whether the intended tax
treatment of a transaction has become
generally accepted unless information re-
lating to the structure and tax treatment of
such transactions has been in the public
domain (e.g., rulings, published articles,
etc.) and widely known for a sufficient pe-
riod of time (ordinarily a period of years)
to provide knowledgeable tax practitioners
and the IRS reasonable opportunity to
evaluate the intended tax treatment. The
mere fact that one or more knowledgeable
tax practitioners have provided an opinion
or advice to the effect that the intended tax
treatment of the transaction should or will
be sustained, if challenged by the IRS, is
not sufficient to satisfy the requirements
of this paragraph (b)(3)(ii).
(4) * * *
(i) In the case of a transaction other
than a transaction described in paragraph
(b)(2) of this section, the tax shelter pro-
moter (or other person who would be re-
sponsible for registration under this sec-
tion) reasonably determines that there is
no reasonable basis under Federal tax law
for denial of any significant portion of the
expected Federal income tax benefits
from the transaction. This paragraph
(b)(4)(i) applies only if the tax shelter
promoter (or other person who would be
responsible for registration under this sec-
tion) reasonably determines that there is
no basis that would meet the standard ap-
plicable to taxpayers under §1.6662–
3(b)(3) of this chapter under which the
IRS could disallow any significant por-
tion of the expected Federal income tax
benefits of the transaction. Thus, the rea-
sonable basis standard is not satisfied by
an IRS position that would be merely ar-
guable or that would constitute merely a
colorable claim. However, the determina-
tion of whether the IRS would or would
not have a reasonable basis for such a po-
sition must take into account the entirety
of the transaction and any combination of
tax consequences that are expected to re-
sult from any component steps of the
transaction, must not be based on any un-
reasonable or unrealistic factual assump-
tions, and must take into account all rele-
vant aspects of Federal tax law, including
the statute and legislative history, treaties,
administrative guidance, and judicial de-
cisions that establish principles of general
application in the tax law (e.g., Gregory v.
Helvering, 293 U.S. 465 (1935)). The de-
termination of whether the IRS would or
would not have such a reasonable basis is
qualitative in nature and does not depend
on any percentage or other quantitative
assessment of the likelihood that the tax-
payer would ultimately prevail if a signif-
icant portion of the expected tax benefits
were disallowed by the IRS.
* * * * *
(6) Example. The following example il-
lustrates the application of paragraphs
(b)(1) through (4) of this section. Assume,
for purposes of the example, that the trans-
action is not the same as or substantially
similar to any of the types of transactions
that the IRS has identified as listed trans-
actions under section 6111 and, thus, is not
described in paragraph (b)(2) of this sec-
tion. The example is as follows:
Example.* * *
(ii) Analysis. The transaction repre-
sented by this combination of financial in-
struments is a transaction described in
paragraph (b)(3) of this section. However,
if Y is uncertain whether this transaction is
described in paragraph (b)(3) of this sec-
tion, or is otherwise uncertain whether
registration is required, Y may apply for a
ruling under paragraph(b)(5) of this sec-
tion, and the transaction will not be re-
quired to be registered while the ruling is
pending or for sixty days thereafter.
(c) * * *
(3) Presumption.Unless facts and cir-
cumstances clearly indicate otherwise, an
offer is not considered made under condi-
tions of confidentiality if the tax shelter
promoter provides express written autho-
rization to each offeree permitting the of-
feree (and each employee, representative,
or other agent of such offeree) to disclose
to any and all persons, without limitation
of any kind, the structure and tax aspects
of the transaction, and all materials of any
kind (including opinions or other tax
analyses) that are provided to the offeree
related to such structure and tax aspects.
* * * * *
(e) * * *
(2) * * *
(ii) * * *
(E) Sign the Form 8264 and file the
form as prescribed in the instructions to
the form.
* * * * *
(h) Effective date. * * * However, para-
graphs (b)(1), (b)(3)(ii), (b)(4)(i), (b)(6)
Example (i) and (ii), (c)(3), and (e)(2)
(ii)(E) of this section apply to confidential
corporate tax shelters in which any inter-
ests are offered for sale after August 2,
2001. The rules in paragraphs (b)(1),
(b)(3)(ii), (b)(4)(i), (b)(6), (b)(6) Example
(i) and (ii), (c)(3), and (e)(2)(ii)(E), of this
section may be relied upon for confiden-
tial corporate tax shelters in which any in-
terests are offered for sale after February
28, 2000. Otherwise, the rules that apply
to confidential corporate tax shelters in
which any interests are offered for sale
after February 28, 2000, and on or before
August 2, 2001, are contained in this
§301.6111–2T in effect prior to August 2,
2001 (see 26 CFR part 301 revised as of
April 1, 2001).
Par. 5. Section 301.6112–1T is
amended by removing the authority cita-
tion immediately following the section.
David A. Mader,
Acting Deputy Commissioner
of Internal Revenue.
Approved July 31, 2001.
Mark Weinberger,
Assistant Secretary
of the Treasury.
(Filed by the Office of the Federal Register on Au-
gust 2, 2001, 2:50 p.m., and published in the issue of
the Federal Register for August 7, 2001, 66 F.R.
41133)
Section 6071.—Time for Filing
Returns and Other Documents
26 CFR 40.6071(a)–1: Time for filing returns.
T.D. 8963
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 40
Deposits of Excise Taxes
AGENCY: Internal Revenue Service
(IRS), Treasury.

August 27, 20011982001–35 I.R.B.
ACTION: Final regulations.
SUMMARY: This document contains the
final regulations relating to the require-
ments for excise tax returns, payments,
and deposits. These regulations affect
persons required to report liability for ex-
cise taxes on Form 720, “Quarterly Fed-
eral Excise Tax Return.”
DATES: Effective Date: These regula-
tions are effective August 9, 2001.
Applicability Date: These regulations
are applicable with respect to returns and
deposits that relate to calendar quarters
beginning on or after October 1, 2001.
FOR FURTHER INFORMATION CON-
TACT: Susan Athy (202) 622-3130 (not a
toll-free number).
SUPPLEMENTARY INFORMATION:
Background
This document contains final amend-
ments to the Excise Tax Procedural Regu-
lations (26 CFR part 40) relating to the re-
quirements for excise tax returns,
payments, and deposits. On January 7,
2000, an advance notice of proposed rule-
making (Ann. 2000–5, 2000–4 I.R.B. 427)
that invited comments from the public on
issues relating to the requirements for ex-
cise tax returns and deposits was pub-
lished in the Federal Register(65 FR
1076). Several written comments were re-
ceived and considered in drafting the pro-
posed regulations. On February 16, 2001,
a notice of proposed rulemaking
(REG–106892–00, 2001–15 I.R.B. 1060)
was published in the Federal Register(66
FR 10650). Written comments and re-
quests for a public hearing were solicited.
Written comments responding to the
notice were received from one commenta-
tor. The comments requested that the safe
harbor rule based on look-back quarter li-
ability be modified to be applicable: to
each semimonthly period in a quarter if
one-sixth of look-back quarter liability is
deposited during that semimonthly pe-
riod; when a taxpayer’s liability includes
new or reinstated taxes; and when a new
legal entity includes a party that filed a
Form 720 for the second preceding quar-
ter. The final regulations do not adopt the
requested modifications to the look-back
safe harbor rule because doing so could
significantly reduce the percentage of ex-
cise tax liability deposited without any
corresponding reduction in the complex-
ity of the deposit rules.
No public hearing was requested or
held. After consideration of all of the
comments, the proposed regulations are
adopted without change by this Treasury
decision.
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 assess-
ment is not required. It also has been de-
termined that section 553(b) of the Ad-
ministrative Procedure Act (5 U.S.C.
chapter 5) does not apply to these regula-
tions and, because these regulations do
not impose on small entities a collection
of information requirement, the Regula-
tory Flexibility Act (5 U.S.C. chapter 6)
does not apply. Therefore, a Regulatory
Flexibility Analysis is not required. Pur-
suant to section 7805(f) of the Internal
Revenue Code, the notice of proposed
rulemaking preceding these regulations
was submitted to the Chief Counsel for
Advocacy of the Small Business Admin-
istration for comment on its impact on
small business.
Drafting Information
The principal author of these regula-
tions is Susan Athy, Office of Associate
Chief Counsel (Passthroughs and Special
Industries). However, other personnel
from the IRS and Treasury Department
participated in their development.
* * * * *
Adoption of Amendments to the
Regulations
Accordingly, 26 CFR part 40 is
amended as follows:
PART 40—EXCISE TAX
PROCEDURAL REGULATIONS
Paragraph 1. The authority citation for
part 40 is amended by removing the en-
tries for Sections 40.6071(a)–1 and
40.6071(a)–2, and Sections 40.6302(c)–2,
40.6302(c)–3, and 40.6302(c)–4; and
adding entries in numerical order to read
in part as follows:
Authority: 26 U.S.C. 7805 * * *
Section 40.6071(a)–1 also issued under
26 U.S.C. 6071(a). * * *
Section 40.6302(c)–2 also issued under
26 U.S.C. 6302(a).
Section 40.6302(c)–3 also issued under
26 U.S.C. 6302(a). * * *
§40.0–1 [Amended]
Par. 2. Section 40.0–1 is amended as
follows:
1. Paragraphs (d) and (e) are removed.
2. Paragraph (f) is redesignated as new
paragraph (d).
§40.6011(a)–1 [Amended]
Par. 3. Section 40.6011(a)–1 is
amended by removing paragraph (c).
§40.6011(a)–2 [Amended]
Par. 4. Section 40.6011(a)–2 is
amended as follows:
1. In paragraph (b)(2), the language
“§40.6302(c)–1(f)(2)” is removed and
“§40.6302(c)–1(e)(2)” is added in its
place.
2. Paragraph (d) is removed.
Par. 5. Section 40.6071(a)–1 is
amended by revising paragraphs (a),
(b)(2), and (c) to read as follows:
§40.6071(a)–1 Time for filing returns.
(a) Quarterly returns. Each quarterly
return required under §40.6011(a)–1(a)(2)
must be filed by the last day of the first
calendar month following the quarter for
which it is made.
(b) * * *
(2) Semimonthly returns. Each semi-
monthly return required under §40.6011
(a)–1(b) must be filed by the last day of
the semimonthly period (as defined in
§40.0–1(c)) following the semimonthly
period for which it is made.
(c) Effective date. This section is ap-
plicable with respect to returns that relate
to calendar quarters beginning on or after
October 1, 2001.
§40.6071(a)–2 [Removed]
Par. 6. Section 40.6071(a)–2 is re-
moved.
§40.6091–1 [Amended]
Par. 7. Section 40.6091–1 is amended
by removing paragraph (d).
Par. 8. Section 40.6101–1 is revised to
read as follows:
§40.6101–1 Period covered by returns.

See §40.6011(a)–1(a)(2) for the rules
relating to the period covered by the re-
turn.
Par. 9. Sections 40.6109(a)–1 and
40.6151(a)–1 are revised to read as fol-
lows:
§40.6109(a)–1 Identifying numbers.
Every person required under
§40.6011(a)–1 to make a return must pro-
vide the identifying number required by
the instructions applicable to the form on
which the return is made.
§40.6151(a)–1 Time and place for paying
tax shown on return.
Except as provided by statute, the tax
must be paid at the time prescribed in
§40.6071(a)–1 for filing the return, and at
the place prescribed in §40.6091–1 for fil-
ing the return.
Par. 10. Section 40.6302(c)–1 is re-
vised to read as follows:
§40.6302(c)–1 Use of Government
depositaries.
(a) In general—(1) Semimonthly de-
posits required. Except as provided by
statute or by paragraph (e) of this section,
each person required under §40.6011(a)
–1(a)(2) to file a quarterly return must
make a deposit of tax for each semi-
monthly period (as defined in §40.0–1(c))
in which tax liability is incurred.
(2) Treatment of taxes imposed by
chapter 33. For purposes of this part 40,
tax imposed by chapter 33 (relating to
communications and air transportation) is
treated as a tax liability incurred during
the semimonthly period—
(i) In which that tax is collected; or
(ii) In the case of the alternative
method, in which that tax is considered as
collected.
(3) Definition of net tax liability. Net
tax liability means the tax liability for the
specified period plus or minus any adjust-
ments allowable in accordance with the
instructions applicable to the form on
which the return is made.
(4) Computation of net tax liability for
a semimonthly period. The net tax liabil-
ity for a semimonthly period may be com-
puted by—
(i) Determining the net tax liability in-
curred during the semimonthly period; or
(ii) Dividing by two the net tax liability
incurred during the calendar month that
includes that semimonthly period, pro-
vided that this method of computation is
used for all semimonthly periods in the
calendar quarter.
(b) Amount of deposit—(1) In general.
The deposit of tax for each semimonthly
period must be not less than 95 percent of
the amount of net tax liability incurred
during the semimonthly period.
(2) Safe harbor rules—(i) Applicabil-
ity. The safe harbor rules of this para-
graph (b)(2) are applied separately to
taxes deposited under the alternative
method provided in §40.6302(c)–3 (al-
ternative method taxes) and to the other
taxes for which deposits are required
under this section (regular method
taxes).
(ii) Regular method taxes. Any person
that made a return of tax reporting regular
method taxes for the second preceding
calendar quarter (the look-back quarter) is
considered to have complied with the re-
quirement of this part 40 for deposit of
regular method taxes for the current cal-
endar quarter if—
(A) The deposit of regular method
taxes for each semimonthly period in the
current calendar quarter is not less than
1/6 of the net tax liability for regular
method taxes reported for the look-back
quarter;
(B) Each deposit is made on time;
(C) The amount of any underpayment
of regular method taxes is paid by the due
date of the return; and
(D) The person’s liability does not in-
clude any regular method tax that was not
imposed at all times during the look-back
quarter or a tax on a chemical not subject
to tax at all times during the look-back
quarter.
(iii) Alternative method taxes. Any
person that made a return of tax reporting
alternative method taxes for the look-back
quarter is considered to have complied
with the requirement of this part 40 for
deposit of alternative method taxes for the
current calendar quarter if—
(A) The deposit of alternative method
taxes for each semimonthly period in the
current calendar quarter is not less than
1/6 of the net tax liability for alternative
method taxes reported for the look-back
quarter;
(B) Each deposit is made on time;
(C) The amount of any underpayment
of alternative method taxes is paid by the
due date of the return; and
(D) The person’s liability does not in-
clude any alternative method tax that was
not imposed at all times during the look-
back quarter and the month preceding the
look-back quarter.
(iv) Modification for tax rate increase.
The safe harbor rules of this paragraph
(b)(2) do not apply to regular method taxes
or alternative method taxes for the first and
second calendar quarters beginning on or
after the effective date of an increase in the
rate of any tax to which this part 40 applies
unless the deposit of those taxes for each
semimonthly period in the calendar quarter
is not less than 1/6 of the tax liability the
person would have had with respect to
those taxes for the look-back quarter if the
increased rate of tax had been in effect for
the look-back quarter.
(v) Failure to comply with deposit re-
quirements. If a person fails to make de-
posits as required under this part 40, that
failure may be reported to the appropriate
IRS office and the IRS may withdraw the
person’s right to use the safe harbor rules
of this paragraph (b)(2).
(c) Time to deposit—(1) In general.
The deposit of tax for any semimonthly
period must be made by the 14th day of
the following semimonthly period unless
such day is a Saturday, Sunday, or legal
holiday in the District of Columbia in
which case the immediately preceding
day which is not a Saturday, Sunday, or
legal holiday in the District of Columbia
is treated as the 14th day. Thus, generally,
the deposit of tax for the first semi-
monthly period in a month is due by the
29th day of that month and the deposit of
tax for the second semimonthly period in
a month is due by the 14th day of the fol-
lowing month.
(2) Exceptions. See §40.6302(c)–2 for
the special rules for September. See
§40.6302(c)–3 for the special rules for de-
posits under the alternative method.
(d) Remittance of deposits—(1) De-
posits by federal tax deposit coupon. A
completed Form 8109, “Federal Tax
Deposit Coupon,”must accompany
each deposit. The deposit must be re-
mitted, in accordance with the instruc-
tions applicable to the form, to a finan-
cial institution authorized as a
depositary for federal taxes (as provided
in 31 CFR part 203).
2001–35 I.R.B.199August 27, 2001

(2) Deposits by electronic funds trans-
fer. For the requirement to deposit excise
taxes by electronic funds transfer, see
§31.6302–1(h) of this chapter. A taxpayer
not required to deposit by electronic funds
transfer pursuant to §31.6302–1(h) of this
chapter remains subject to the rules of this
paragraph (d).
(e) Exceptions—(1) Taxes excluded.
No deposit is required in the case of the
taxes imposed by—
(i) Section 4042 (relating to fuel used
on inland waterways);
(ii) Section 4161 (relating to sport fish-
ing equipment and bows and arrow com-
ponents);
(iii) Section 4682(h) (relating to floor
stocks tax on ozone-depleting chemicals);
and
(iv) Section 48.4081–3(b)(1)(iii) of
this chapter (relating to certain removals
of gasohol from refineries).
(2) One-time filings. No deposit is re-
quired in the case of any taxes reportable
on a one-time filing (as defined in
§40.6011(a)–2(b)).
(3) De minimis exception. For any cal-
endar quarter, no deposit is required if the
net tax liability for the quarter does not
exceed $2,500.
(f) Effective date. This section is ap-
plicable with respect to deposits that re-
late to calendar quarters beginning on or
after October 1, 2001.
Par. 11. Section 40.6302(c)–2 is re-
vised to read as follows:
§40.6302(c)–2 Special rules for
September.
(a) In general—(1) Separate deposits
required for the second semimonthly pe-
riod. In the case of deposits of taxes not
deposited under the alternative method
(regular method taxes) for the second
semimonthly period in September, sepa-
rate deposits are required for the period
September 16th through 26th and for the
period September 27th through 30th.
(2) Amount of deposit—(i) In general.
The deposits of regular method taxes for
the period September 16th through 26th
and the period September 27th through
30th must be not less than 95 percent of
the net tax liability for regular method
taxes incurred during the respective peri-
ods. The net tax liability for regular
method taxes incurred during these peri-
ods may be computed by—
(A) Determining the amount of net tax
liability for regular method taxes reason-
ably expected to be incurred during the
second semimonthly period in September;
(B) Treating 11/15 of the amount deter-
mined under paragraph (a)(2)(i)(A) of this
section as the net tax liability for regular
method taxes incurred during the period
September 16th through 26th; and
(C) Treating the remainder of the
amount determined under paragraph
(a)(2)(i)(A) of this section (adjusted to re-
flect the amount of net tax liability for
regular method taxes actually incurred
through the end of September) as the net
tax liability for regular method taxes in-
curred during the period September 27th
through 30th.
(ii) Safe harbor rules. The safe harbor
rules in §40.6302(c)–1(b)(2) do not apply
for the third calendar quarter unless—
(A) The deposit of taxes for the period
September 16th through 26th is not less
than 11/90 of the net tax liability for regu-
lar method taxes reported for the look-
back quarter; and
(B) The total deposit of taxes for the
second semimonthly period in September
is not less than 1/6 of the net tax liability
for regular method taxes reported for the
look-back quarter.
(3) Time to deposit. (i) The deposit re-
quired for the period beginning Septem-
ber 16th must be made by September 29th
unless—
(A) September 29th is a Saturday, in
which case the deposit must be made by
September 28th; or
(B) September 29th is a Sunday, in
which case the deposit must be made by
September 30th.
(ii) The deposit required for the period
ending September 30th must be made at
the time prescribed in §40.6302(c)–1(c).
(b) Persons not required to use elec-
tronic funds transfer. The rules of this
section are applied with the following
modifications in the case of a person not
required to deposit taxes by electronic
funds transfer.
(1) Periods. The deposit periods for
the separate deposits required under para-
graph (a) of this section are September
16th through 25th and September 26th
through 30th.
(2) Amount of deposit. In computing
the amount of deposit required under
paragraph (a)(2)(i)(B) of this section, the
applicable fraction is 10/15. In comput-
ing the amount of deposit required under
paragraph (a)(2)(ii)(A) of this section, the
applicable fraction is 10/90.
(3) Time to deposit. In the case of the
deposit required under paragraph (a) of
this section for the period beginning Sep-
tember 16th, the deposit must be made by
September 28th unless—
(i) September 28th is a Saturday, in
which case the deposit must be made by
September 27th; or
(ii) September 28th is a Sunday, in
which case the deposit must be made by
September 29th.
(c) Effective date. This section is ap-
plicable with respect to deposits that re-
late to calendar quarters beginning on or
after October 1, 2001.
Par. 12. Section 40.6302(c)–3 is
amended as follows:
1. In paragraph (b)(1)(ii), the language
“9-day rule of §40.6302(c)–1(b)(6)” is re-
moved and “rule of §40.6302(c)–1(c)(1)”
is added in its place.
2. In paragraph (b)(3), last sentence,
the language “6th” is removed and “16th”
is added in its place.
3. In paragraph (d), first sentence, the
language “not less than” is removed and
“not less than 95 percent of” is added in
its place.
4. In paragraph (f)(4) introductory text,
the language “§40.6302(c)–1(c)(2)(i)” is
removed and “§40.6302(c)–1(b)(2)” is
added in its place.
5. Paragraphs (f)(5) and (f)(7) are re-
moved.
6. Paragraph (f)(6) is redesignated as
paragraph (f)(5).
7. Paragraph (g) is revised.
8. Paragraph (h) is removed.
The revision reads as follows:
§40.6302(c)–3 Special rules for use of
Government depositaries under chap-
ter 33.
* * * * *
(g) Effective date. This section is ap-
plicable with respect to deposits and re-
turns that relate to taxes that are consid-
ered as collected in calendar quarters
beginning on or after October 1, 2001.
§40.6302(c)–4 [Removed]
Par. 13. Section 40.6302(c)–4 is re-
moved.
August 27, 20012002001–35 I.R.B.

§40.9999–1 [Removed]
Par. 14. Section 40.9999–1 is removed.
Robert E. Wenzel,
Deputy Commissioner
of Internal Revenue.
Approved July 31, 2001.
Mark A. Weinberger,
Assistant Secretary
of the Treasury.
(Filed by the Office of the Federal Register on Au-
gust 8, 2001, 8:45 a.m., and published in the issue of
the Federal Register for August 9, 2001, 66 F.R.
41775)
Section 7701.—Definitions
26 CFR 301.7701–7: Trusts–domestic and foreign.
T.D. 8962
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 301
Classification of Certain Pension
and Employee Benefit Trusts,
and Other Trusts
AGENCY: Internal Revenue Service
(IRS), Treasury.
ACTION: Final regulations.
SUMMARY: This document contains
final regulations amending the regulations
defining a domestic or foreign trust for
federal tax purposes. The regulations will
affect certain specified employee benefit
trusts and investment trusts. The regula-
tions provide that these employee benefit
trusts and investment trusts are deemed to
satisfy the control test for domestic trust
treatment if United States trustees control
all of the substantial decisions of the trust
made by the trustees of the trust.
DATES: Effective Date: These regula-
tions are effective August 9, 2001.
Applicability Dates: For dates of
applicability of §301.7701–7(d)(1)
(iv) and (v) Examples 1and 5, see
§ 301.7701–7(e)(3).
FOR FURTHER INFORMATION CON-
TACT: James A. Quinn at (202) 622-
3060 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
On October 12, 2000, the Treasury De-
partment and the IRS published a notice
of proposed rulemaking (REG–
108553–00, 2000–44 I.R.B. 452) under
section 7701 of the Internal Revenue
Code (Code) in the Federal Register(65
FR 60822). The proposed regulations add
group trusts consisting of qualified plan
trusts and IRA trusts, as described in Rev.
Rul. 81–100 (1981–1 C.B. 326), and cer-
tain investment trusts to the categories of
trusts that may use the safe harbor in
§301.7701–7(d)(1)(iv) of the Procedure
and Administration Regulations relating
to the application of the control test of
section 7701(a)(30)(E). The proposed
regulations also modify the safe harbor in
§301.7701–7(d)(1)(iv) to clarify that em-
ployee benefit trusts and investment trusts
identified in the regulations are deemed to
satisfy the control test if United States
trustees control all of the substantial deci-
sions of the trust made by the trustees of
the trust. No one requested to speak at the
public hearing scheduled for January 31,
2001. Accordingly, the public hearing
was canceled on January 26, 2001 (66 FR
7867). Comments in response to the no-
tice of proposed rulemaking were re-
ceived and are addressed in the following
Explanation and Summary of Comments.
This document finalizes the proposed reg-
ulations without change.
Explanation and Summary of
Comments
Reporting Requirements for Foreign
Widely Held Fixed Investment Trusts
Two commentators were concerned
about United States investors in widely
held fixed investment trusts that are out-
side the safe harbor provided by
§301.7701–7(d)(1)(iv)(I) and therefore
are treated as foreign trusts. These com-
mentators suggested that United States in-
vestors in such trusts should not be sub-
ject to reporting under section 6048 and to
the corresponding penalties in section
6677 for failure to comply with the sec-
tion 6048 reporting requirements. A guid-
ance project under section 671 concerning
reporting requirements for all widely held
fixed investment trusts is currently under
consideration. Accordingly, these regula-
tions do not specifically address this
issue.
Application to Certain Pension Trusts
Created or Organized in Puerto Rico
Section 1022(i)(1) of the Employee
Retirement Income Security Act of
1974, Public Law 93–406 (88 Stat. 829)
(September 2, 1974), provides for tax
exemption for certain trusts created or
organized in Puerto Rico that form part
of a pension, profit-sharing, or stock
bonus plan. Section 1022(i)(2) and
§1.401(a)–50 of the Income Tax Regula-
tions generally provide that the adminis-
trator of such a trust may elect to have
the trust treated as a trust created or or-
ganized in the United States for pur-
poses of section 401(a). In light of the
changes made to section 7701(a)(30) in
the Small Business Job Protection Act,
Public Law 104–188 (110 Stat. 1755)
(August 20, 1996), and the Taxpayer Re-
lief Act of 1997, Public Law 105–34
(111 Stat. 788) (August 5, 1997), and the
ensuing regulations, some taxpayers
have expressed concerns regarding the
continuing application of sections
1022(i)(1) and (2) and §1.401–50 to a
pension trust created or organized in
Puerto Rico that is not a domestic trust
within the meaning of section
7701(a)(30). Because the application of
these provisions is not restricted to
trusts that are domestic trusts within the
meaning of section 7701(a)(30), the
1996 and 1997 amendments to section
7701(a)(30) and the ensuing regulations
do not affect the application of these
provisions.
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 reg-
ulations 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 Code, the notice of pro-
posed rulemaking preceding these regu-
lations was submitted to the Small Busi-
ness Administration for comment on the
regulations’ impact on small business.
2001–35 I.R.B.201August 27, 2001

Drafting Information
The principal author of these regulations
is James A. Quinn of the Office of Associ-
ate Chief Counsel (Passthroughs and Spe-
cial Industries). However, other personnel
from the IRS and Treasury Department
participated in their development.
* * * * *
Adoption of Amendments to the
Regulations
Accordingly, 26 CFR part 301 is
amended as follows:
PART 301—PROCEDURE AND
ADMINISTRATION
Paragraph 1. The authority citation for
part 301 continues to read in part as fol-
lows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 301.7701–7 is amended
as follows:
1. Paragraph (d)(1)(iv) introductory
text is revised.
2. Paragraph (d)(1)(iv)(H) is redesig-
nated as paragraph (d)(1)(iv)(J).
3. New paragraphs (d)(1)(iv)(H) and
(d)(1)(iv)(I) are added.
4. In paragraph (d)(1)(v), Example 1is
revised and Example 5is added.
5. The first sentence of paragraph
(e)(1) is revised.
6. Paragraph (e)(3) is added.
The revisions and additions read as fol-
lows:
§301.7701–7 Trusts—domestic and
foreign.
* * * * *
(d) * * * (1) * * *
(iv) Safe harbor for certain employee
benefit trusts and investment trusts.
Notwithstanding the provisions of this
paragraph (d), the trusts listed in this
paragraph (d)(1)(iv) are deemed to satisfy
the control test set forth in paragraph
(a)(1)(ii) of this section, provided that
United States trustees control all of the
substantial decisions made by the trustees
of the trust—
* * * * *
(H) A group trust described in Rev. Rul.
81–100 (1981–1 C.B. 326) (see
§601.601(d)(2) of this chapter);
(I) An investment trust classified as a
trust under §301.7701–4(c), provided that
the following conditions are satisfied–
(1) All trustees are United States per-
sons and at least one of the trustees is a
bank, as defined in section 581, or a
United States Government-owned agency
or United States Government-sponsored
enterprise;
(2) All sponsors (persons who ex-
change investment assets for beneficial
interests with a view to selling the benefi-
cial interests) are United States persons;
and
(3) The beneficial interests are widely
offered for sale primarily in the United
States to United States persons;
* * * * *
(v) * * *
Example 1. Trust is a testamentary trust with
three fiduciaries, A, B, and C. Aand Bare United
States citizens, and Cis a nonresident alien. No per-
sons except the fiduciaries have authority to make
any decisions of the trust. The trust instrument pro-
vides that no substantial decisions of the trust can be
made unless there is unanimity among the fiducia-
ries. The control test is not satisfied because United
States persons do not control all the substantial deci-
sions of the trust. No substantial decisions can be
made without C’s agreement.
* * * * *
Example 5. X, a foreign corporation, conducts
business in the United States through various branch
operations. Xhas United States employees and has
established a trust as part of a qualified employee
benefit plan under section 401(a) for these employ-
ees. The trust is established under the laws of State
A, and the trustee of the trust is B, a United States
bank governed by the laws of State A. B holds legal
title to the trust assets for the benefit of the trust ben-
eficiaries. A plan committee makes decisions with
respect to the plan and the trust. The plan committee
can direct B’s actions with regard to those decisions
and under the governing documents Bis not liable
for those decisions. Members of the plan committee
consist of United States persons and nonresident
aliens, but nonresident aliens make up a majority of
the plan committee. Decisions of the plan commit-
tee are made by majority vote. In addition, Xretains
the power to terminate the trust and to replace the
United States trustee or to appoint additional
trustees. This trust is deemed to satisfy the control
test under paragraph (d)(1)(iv) of this section be-
cause B, a United States person, is the trust’s only
trustee. Any powers held by the plan committee or
Xare not considered under the safe harbor of para-
graph (d)(1)(iv) of this section. In the event that X
appoints additional trustees including foreign
trustees, any powers held by such trustees must be
considered in determining whether United States
trustees control all substantial decisions made by the
trustees of the trust.
* * * * *
(e) Effective date—(1) General rule.
Except for the election to remain a do-
mestic trust provided in paragraph (f) of
this section and except as provided in
paragraph (e)(3) of this section, this sec-
tion is applicable to taxable years ending
after February 2, 1999. * * *
* * * * *
(3) Effective date of safe harbor for
certain employee benefit trusts and in-
vestment trusts. Paragraphs (d)(1)(iv) and
(v) Examples 1and 5of this section apply
to trusts for taxable years ending on or
after August 9, 2001. Paragraphs
(d)(1)(iv) and (v) Examples 1and 5of this
section may be relied on by trusts for tax-
able years beginning after December 31,
1996, and also may be relied on by trusts
whose trustees have elected to apply sec-
tions 7701(a)(30) and (31) to the trusts for
taxable years ending after August 20,
1996, under section 1907(a)(3)(B) of the
SBJP Act.
* * * * *
Robert E. Wenzel,
Deputy Commissioner
of Internal Revenue.
Approved July 31, 2001.
Mark Weinberger,
Assistant Secretary
of the Treasury.
(Filed by the Office of the Federal Register on Au-
gust 8, 2001, 8:45 a.m., and published in the issue of
the Federal Register for August 9, 2001, 66 F.R.
41778)
August 27, 20012022001–35 I.R.B.

Weighted Average Interest Rate
Update
Notice 2001–52
Notice 88–73 provides guidelines for
determining the weighted average interest
rate and the resulting permissible range of
interest rates used to calculate current lia-
bility for the purpose of the full funding
limitation of § 412(c)(7) of the Internal
Revenue Code as amended by the Om-
nibus Budget Reconciliation Act of 1987
and as further amended by the Uruguay
Round Agreements Act, Pub. L. 103–465
(GATT).
The average yield on the 30-year Trea-
sury Constant Maturities for July 2001 is
5.61 percent.
The following rates were determined
for the plan years beginning in the month
shown below.
2001–35 I.R.B.203August 27, 2001
90% to 105%90% to 110%
WeightedPermissiblePermissible
MonthYearAverageRangeRange
August20015.795.21 to 6.085.21 to 6.37
Drafting Information
The principal author of this notice is
Todd Newman of the Employee Plans,
Tax Exempt and Government Entities
Division. For further information re-
garding this notice, please call Mr. New-
man at (202) 283-9702 (not a toll-free
number).
26 CFR 601.105: Examination of returns and
claims for refund, credit, or abatement;
determination of correct tax liability.
(Also Part I, § 42; 1.42–14.)
Rev. Proc. 2001–44
SECTION 1. PURPOSE
This revenue procedure publishes the
amounts of unused housing credit carry-
overs allocated to qualified states under
§ 42(h)(3)(D) of the Internal Revenue
Code for calendar year 2001.
SECTION 2. BACKGROUND
Rev. Proc. 92–31 (1992–1 C.B. 775)
provides guidance to state housing credit
agencies of qualified states on the proce-
dure for requesting an allocation of un-
used housing credit carryovers under
§ 42(h)(3)(D). Section 4.06 of Rev. Proc.
92–31 provides that the Internal Revenue
Service will publish in the Internal Rev-
enue Bulletin the amount of unused hous-
ing credit carryovers allocated to quali-
fied states for a calendar year from a na-
tional pool of unused credit authority (the
National Pool). This revenue procedure
publishes these amounts for calendar year
2001.
SECTION 3. PROCEDURE
The unused housing credit carryover
amount allocated from the National Pool
by the Secretary to each qualified state for
calendar year 2001 is as follows:
Qualified StateAmount Allocated
Delaware$ 5,771
Florida117,712
Illinois91,469
Maine9,390
Maryland39,009
Massachusetts46,762
Minnesota36,232
Missouri41,209
Nebraska12,604
New Hampshire9,102
New Jersey61,972
Ohio83,617
Oregon 25,199
Tennessee41,902
Texas153,575
Utah16,447
Virginia52,134
West Virginia13,319
Wisconsin39,504
SECTION 4. EFFECTIVE DATE
This revenue procedure is effective for
allocations of housing credit dollar
amounts attributable to the National Pool
component of a qualified state’s housing
credit ceiling for calendar year 2001.
DRAFTING INFORMATION
The principal author of this revenue
procedure is Christopher J. Wilson of the
Office of Associate Chief Counsel
(Passthroughs and Special Industries).
For further information regarding this
revenue procedure, contact Mr. Wilson at
(202) 622-3040 (not a toll-free call).
Part III. Administrative, Procedural, and Miscellaneous

Notice of Proposed Rulemaking
Modification of Tax Shelter
Rules II
REG–103735–00;
REG–110311–98;
REG–103736–00
AGENCY: Internal Revenue Service
(IRS), Treasury.
ACTION: Cross-reference notice of pro-
posed rulemaking.
SUMMARY: These proposed rules pro-
vide the public with additional guidance
needed to comply with the disclosure
rules under section 6011(a), the registra-
tion requirement under section 6111(d),
and the list maintenance requirement
under section 6112 applicable to tax shel-
ters. The proposed rules affect corpora-
tions participating in certain reportable
transactions, persons responsible for reg-
istering confidential corporate tax shel-
ters, and organizers of potentially abusive
tax shelters. In T.D. 8961, on page 194 in
this issue of the Bulletin, the IRS is issu-
ing temporary regulations modifying the
rules relating to the requirement that cer-
tain corporate taxpayers file a statement
with their Federal corporate income tax
returns under section 6011(a) and the reg-
istration of confidential corporate tax
shelters under section 6111(d). The text
of those temporary regulations also serves
as the text of these proposed regulations.
DATES: Written or electronic comments
and requests for a public hearing must be
received by October 31, 2001.
ADDRESSES: Send submissions to:
CC:ITA:RU (REG–103735–00; REG–
110311–98; REG–103736–00), room
5226, Internal Revenue Service, POB
7604, Ben Franklin Station, Washington,
DC 20044. Submissions may be hand
delivered between the hours of 8 a.m. and
5 p.m. to: CC:ITA:RU (REG–103735–00;
REG–110311–98; REG–103736–00),
Courier’s Desk, Internal Revenue Ser-
vice, 1111 Constitution Avenue, NW,
Washington, DC. Alternatively, taxpayers
may submit comments electronically via
the Internet by selecting the “Tax Regs”
option of the IRS Home Page or by sub-
mitting comments directly to the IRS In-
ternet site at http://www.irs.gov/tax_
regs/regslist.html.
FOR FURTHER INFORMATION CON-
TACT: Concerning the regulations,
Danielle M. Grimm at (202) 622-3080;
concerning submissions, Guy Traynor at
(202) 622-7180 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
T.D. 8961 amends the Income Tax Reg-
ulations (26 CFR part 1) regarding rules
relating to the filing and records require-
ments for certain corporate taxpayers
under section 6011. The temporary regu-
lations also amend the temporary proce-
dure and administration regulations (26
CFR part 301) regarding the registration
of confidential corporate tax shelters
under section 6111.
The text of the temporary regulations
also serves as the text of these proposed
regulations. The preamble to the tempo-
rary regulations explains the regulations.
Special Analyses
It has been determined that this notice
of proposed rulemaking is not a signifi-
cant regulatory action as defined in Exec-
utive Order 12866. Therefore, a regula-
tory assessment is not required. It has
also been determined that section 553(b)
of the Administrative Procedure Act (5
U.S.C. chapter 5) does not apply to these
regulations. Because these regulations
impose no new collection of information
on small entities, a Regulatory Flexibility
Analysis under the Regulatory Flexibility
Act (5 U.S.C. chapter 6) is not required.
Pursuant to section 7805(f) of the Internal
Revenue Code, this notice of proposed
rulemaking will be submitted to the Chief
Counsel for Advocacy of the Small Busi-
ness Administration for comment on its
impact on small business.
Comments and Requests for a Public
Hearing
Before these proposed regulations are
adopted as final regulations, considera-
tion will be given to any written com-
ments (preferably a signed original and
eight (8) copies) or electronically gener-
ated comments that are submitted timely
to the IRS. The IRS and Treasury request
comments on the clarity of the proposed
rules and how they can be made easier to
understand. All comments will be avail-
able for public inspection and copying. A
public hearing will be scheduled if re-
quested in writing by any person that
timely submits written comments. If a
public hearing is scheduled, notice of the
date, time, and place for the public hear-
ing will be published in the Federal Reg-
ister.
Drafting Information
The principal author of these regulations
is Danielle M. Grimm, Office of the Asso-
ciate Chief Counsel (Passthroughs and
Special Industries). However, other per-
sonnel from the IRS and Treasury Depart-
ment participated in their development.
* * * * *
Proposed Amendments to the
Regulations
Accordingly, 26 CFR parts 1 and 301,
which were proposed to be amended at 65
FR 49909 (August 16, 2000), are pro-
posed to be further amended as follows:
PART 1—INCOME TAXES
Paragraph 1. The authority citation for
part 1 continues to read in part as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.6011–4 as proposed
to be added at 65 FR 49909 (August 16,
2000) is amended as follows:
§1.6011–4 Requirement of statement
disclosing participation in certain
transactions by corporate taxpayers.
[The text of the amendments to this
proposed section is the same as the text of
the amendments to §1.6011–4T published
in T.D. 8961.]
PART 301— PROCEDURE AND
ADMINISTRATION
Par. 3. The authority citation for part
301 continues to read in part as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 4. Section 301.6111–2 as pro-
posed to be added at 65 FR 49909 (Au-
gust 16, 2000) is amended as follows:
August 27, 20012042001–35 I.R.B.
Part IV. Items of General Interest

2001–35 I.R.B.205August 27, 2001
§301.6111–2 Confidential corporate tax
shelters.
[The text of the amendments to this
proposed section is the same as the text of
the amendments to §301.6111–2T pub-
lished in T.D. 8961.]
David A. Mader,
Acting Deputy Commissioner
of Internal Revenue.
(Filed by the Office of the Federal Register on Au-
gust 2, 2001, 2:50 p.m., and published in the issue of
the Federal Register for August 7, 2001, 66 F.R.
41169)
Invitation to Participate in
Dialogue on Long-Term Future
of Employee Plans
Determination Letter Program
Announcement 2001–83
The IRS invites the public to partici-
pate in a dialogue on the long-term future
of the Employee Plans determination let-
ter program.
Qualified plans offer significant tax
advantages to employers and partici-
pants. Determination letters provide as-
surance to plan sponsors, participants,
and other interested parties that the
terms of employer-sponsored retirement
plans satisfy the qualification require-
ments of the Code. The IRS has main-
tained an Employee Plans determination
letter program for many years, essen-
tially in its present form. Under this
program, the Employee Plans (EP) seg-
ment of Tax Exempt and Government
Entities (TE/GE) issues letters of deter-
mination regarding the qualified status
of retirement plans under section 401(a)
of the Internal Revenue Code and the
status of related trusts under section
501(a).
A determination letter, however, only
provides reliance that the plan is quali-
fied under the rules in place at the time
the letter was issued. The law and rules
regarding qualified plans have changed
frequently over the last twenty-seven
years. This requires plan amendments
that result in repeated applications for
determination letters for the same plan.
Currently, EP is reviewing applications
for plans that have been amended to re-
flect changes in the law from 1994
through 2000. These are referred to as
the GUST
1
amendments.
Following the recent reorganization of
the IRS, EP has undertaken a project to
consider the long-term future of the EP
determination letter program after GUST.
The question EP asks the public to con-
sider with it is whether there might be bet-
ter alternatives to the present determina-
tion letter program.
EP recently put into effect several im-
provements to the determination letter
program (Announcement 2001–77,
2001–30 I.R.B. 83). The focus of the pro-
ject that EP is now undertaking is long-
term—perhaps five or more years into the
future. While these long-term changes
will not impact the GUST amendment
process, they may have a significant im-
pact on applications for determinations
letters for changes in the law subsequent
to GUST, such as those contained in the
Economic Growth and Tax Relief Recon-
ciliation Act of 2001, Pub. L. 107–16.
The scope of this project may be of in-
terest to all parties who are involved in or
affected by the determination letter pro-
gram. The Service hopes to pursue this
project in partnership with all stakehold-
ers in the determination letter process
who wish to participate, including plan
sponsors and participants and employee
benefits professionals. As a preliminary
step, EP has prepared a white paper de-
scribing the project and outlining several
options identified as possible alternatives
to the present determination letter pro-
gram. Legislative changes may be re-
quired to implement some of these op-
tions. The white paper is entitled The
Future of the Employee Plans Determina-
tion Letter Program: Some Possible Op-
tionsand it may be downloaded from the
Internet at the following site:
http://www.irs.gov/ep.EP asks the read-
ers of the white paper to consider it as an
invitation to a dialogue on the subject.
The dialogue is not intended to be limited
to ideas in the paper.
EP personnel plan to discuss the ideas
raised in the paper and listen to others’
ideas and views in professional confer-
ences and meetings in which government
representatives participate and all other
available forums. In addition, EP solicits
comments on whether EP should also
hold a series of nationwide town meetings
to permit furtherance of this dialogue. Fi-
nally, EP invites interested parties to sub-
mit written comments, preferably two
copies referencing Announcement
2001–83, to the following address:
CC:M&SP:RU (Announcement 2001–
83), room 5626
Internal Revenue Service
POB 7604, Ben Franklin Station
Washington, DC 20044
Alternatively, comments may be hand
delivered between the hours of 8:30 a.m.
and 5 p.m. to:
CC:M&SP:RU (Announcement 2001–
83)
Courier’s Desk
Internal Revenue Service
1111 Constitution Avenue, NW
Washington, DC
While not the subject of the white
paper, commentators need not limit their
comments to the long-term future of the
determination letter program and are en-
couraged to submit any recommendations
they have for short-term improvements.
Written comments should be submitted
by March 31, 2002. All written com-
ments will be open to public inspection.
DRAFTING INFORMATION
The principal author of this announce-
ment is James Flannery of Tax Exempt
and Government Entities. For further in-
formation regarding this announcement,
please contact the Employee Plans’ tax-
payer assistance telephone service at
(202) 283-9516 or (202) 283-9517 be-
tween the hours of 1:30 and 3:30 p.m.
Eastern Time, Monday through Thursday.
Mr. Flannery may be reached at (202)
283-9613. These telephone numbers are
not toll-free.
1
The term “GUST” refers to the following:
• the Uruguay Round Agreements Act, Pub. L.
103-465;
• the Uniformed Services Employment and
Reemployment Rights Act of 1994, Pub. L. 103-
353;
• the Small Business Job Protection Act of 1996,
Pub. L. 104-188;
• the Taxpayer Relief Act of 1997, Pub. L. 105-34;
• the Internal Revenue Service Restructuring and
Reform Act of 1998, Pub. L. 105-206; and
• the Community Renewal Tax Relief Act of 2000,
Pub. L. 106-554.

Foundations Status of Certain
Organizations
Announcement 2001–84
The following organizations have
failed to establish or have been unable to
maintain their status as public charities or
as operating foundations. Accordingly,
grantors and contributors may not, after
this date, rely on previous rulings or des-
ignations in the Cumulative List of Orga-
nizations (Publication 78), or on the pre-
sumption arising from the filing of notices
under section 508(b) of the Code. This
listing does notindicate that the organiza-
tions have lost their status as organiza-
tions described in section 501(c)(3), eligi-
ble to receive deductible contributions.
Former Public Charities.The follow-
ing organizations (which have been
treated as organizations that are not pri-
vate foundations described in section
509(a) of the Code) are now classified as
private foundations:
4 R Environment, San Anselmo, CA
Alabama A & M Military Alumni
Association, Huntsville, AL
Alabama Association for Gifted Children,
Birmingham, AL
Alabama Community Service
Corporation, Birmingham, AL
Al-Nur Mosque/Islamic Center, Inc.,
Louisville, KY
Alexander Graham Bell Association for
the Deaf of Tennessee, Inc.,
Nashville, TN
American Foundation for Courtesy,
Montgomery, AL
Amy Baker Team Ministries, Inc.,
Owensboro, KY
Andrea Glenn Concert Ministry, Inc.,
Mobile, AL
Arts in Action, Inc., Lexington, KY
Ashberry Terrace, Inc.,
Elizabethtown, KY
Association of Christian Transport
Services, Inc., Nashville, TN
Atlantic Bridges Foundation,
Nashville, TN
Awake, Inc., Mobile, AL
Ballard Fastpitch Softball, Inc.,
Prospect, KY
Baroque Brass, Inc., Belleville, TX
Bible Alive Ministries, Fergus Falls, MN
Birmingham 2000, Inc., Birmingham, AL
Birmingham Society of Piping, Inc.,
Birmingham, AL
Blessed Are They Which Are Called,
Los Angeles, CA
Brothers About Change BAC,
Memphis, TN
Buddies of Wilson County, Inc.,
Lebanon, TN
Cancer Support Network, Inc.,
Lexington, KY
Carpe Diem of the South, Memphis, TN
Carthage Quarterback Club, Carthage, TN
Catholic Oversight Reserve Foundation,
(COR), Mobile, AL
Cedarbrook Family Enrichment, Inc.,
Lebanon, TN
Children Count Foundation, Seattle, WA
Christian Word Ministries, Inc.,
Lexington, KY
Christians in Action, Inc.,
Barbourville, KY
Clarence B. and Lillian D. Robinson
Education Fund, Inc., Chattanooga, TN
Clarksville Area Young Mens Christian
Association, Clarksville, TN
Clifford D. Mallory Cup Foundation,
Inc., Atlanta, GA
Common Cup, Memphis, TN
Community Bridges, Inc., Tempe, AZ
Community Builders of America,
Knoxville, TN
Comprehensive Child Care Council, Inc.,
Scottsville, KY
Country Christmas Celebration
Association, Savannah, TN
Development Corporation of Orchard
Knob, Inc., Chattanooga, TN
Don’t Lose a Stroke of Breath, Inc.,
Birmingham, AL
Ebenezer Ministries, Inc., Knoxville, TN
Empowerment Network, Inc., Winston-
Salem, NC
Fairhope Philanthropic Association, Inc.,
Fairhope, AL
For Little People Only, Inc., Atlanta, GA
For the Kids, Inc., Decatur, AL
Franklin County Christian Mens
Fellowship, Inc., Frankfort, KY
Friends of Dare, Inc., Irondale, AL
Friends of Grassmere, Inc., Nashville, TN
Friends of Standing Stone State Park,
Inc., Hilham, TN
Gain, Inc., Huntsville, AL
Gathering, Montgomery, AL
Gatlinburg Presbyterian Child Care
Center, Gatlinburg, TN
Gilliam & Lynch, Inc., Birmingham, AL
Glendale Retirement Housing
Association of Murray, Inc.,
Murray, KY
Gods Outreach, Inc., Owensboro, KY
Greensboro Baseball Association, Inc.,
Greensboro, AL
Habitat for Humanity International, Inc.,
Lawrenceburg, TN
Harvest Green Ministries, Inc.,
Birmingham, AL
Harvest Warriors Ministries, Inc.,
Lanett, AL
Hchs Patriot Quarterback Club, Inc.,
Paris, TN
Heart-to-Heart International, Inc.,
Birmingham, AL
Help Is Here, Inc., Miami, FL
Herman Maisel Gymnasium Renovation
Fund, Inc., Mobile, AL
His Ministries, Franklinton, NC
In Touch in East Tennessee Crusade, Inc.,
Greeneville, TN
Innovative Solutions, Inc.,
Louisville, KY
Insa New York, Inc., New York, NY
International Child Care Alliance,
Tucson, AZ
Island Creek Volunteer Fire Department,
Inc., Pikeville, KY
Jericho Road, Inc., Memphis, TN
Johnsons Christian Care Home, Inc.,
Memphis, TN
Jonathans Servant Ministries,
Nashville, TN
Just Us Kids Day Care and Learning
Center, Memphis, TN
Justice Center, Birmingham, AL
Kare-N-Home, Inc., Birmingham, AL
Kentuckians for Intermodal
Transportation, Inc., Louisville, KY
Kentucky Association of Senior
Service Corps. Program, Inc.,
Louisville, KY
Kingdom Agenda Ministries, Inc.,
Lexington, KY
Kingdom News Outreach Program,
Athens, AL
Knoxville Inner City Kids Outreach,
Knoxville, TN
Lend-A-Hand Foundation, Inc.,
Paintsville, KY
Magnificat-Lexington, Inc.,
Lexington, KY
McCoy Center for Community Service,
Inc., Birmingham, AL
Memphis Inner City Development
Corporation, Memphis, TN
Michelle Shaffer Ministries, Inc.,
Murfreesboro, TN
Mid-South Africa Link, Inc.,
Memphis, TN
August 27, 20012062001–35 I.R.B.

Mid-State Soccer League, Inc.,
Birmingham, AL
Middleton Art League, Middleton, TN
Millenium III Ministries, Huntsville, AL
Mission America Corporation,
Memphis, TN
Montauk Non-Profit Housing Corp.,
Elizabethtown, KY
National Access to Cryptosporidium
Testing, Murfreesboro, TN
National Community Development
Corporation (Reaching Our Cities
Kids), Land O Lakes, FL
National Donor Foundation, Inc.,
Louisville, KY
New Horizon Cooperative, Inc.,
Memphis, TN
Newports Ohio River Museum, Inc.,
Newport, KY
Nimbly Development Center,
Memphis, TN
NKM 2, Denver, CO
North Birmingham Junior Golfers
Charitable Trust, Birmingham, AL
North Henry Athletic Association, Inc.,
Stockbridge, GA
Our Daily Bread of Tennessee, Inc.,
Knoxville, TN
Owensboro Family YMCA Endowment
Fund, Inc., Owensboro, KY
Parrot, Dothan, AL
Pathways Teen Services, Inc.,
Clarksville, TN
Phenix City Art Council, Phenix City, AL
Preakness I, Inc., Lexington, KY
Preakness II, Inc., Lexington, KY
Preschool Daycare Institute of America,
Inc., Huntsville, AL
Resurrection Ministries, Inc.,
Lawrenceburg, TN
Rhema Development Foundation, Inc.,
Louisville, KY
Rhema-Grace Ministries, Inc.,
Madisonville, KY
Rutherford County Youth Ballet,
Murfreesboro, TN
Salt & Light Ministries, Inc.,
Louisville, KY
Sarah House, Maryville, TN
Saving Animals From Euthansia, Inc.,
Florala, AL
Simpson County Heritage Fund, Inc.,
Franklin, KY
South Baldwin Museum Foundation,
Inc., Foley, AL
South Central Alabama Coalition for
Citizens With Disabilities,
Andalusia, AL
Southwest Alabama Court Referral
Program, Inc., Jackson, AL
Stonebridge, Inc., Lexington, KY
Storm Soccer Club, Inc., Paducah, KY
Streetfire Youth Ministries,
Johnson City, TN
Students for a Drug-Free America, Inc.,
Nashville, TN
Turn Around Treasures, Inc., Tarrant, AL
United Eastern Lenape & Intertribal
Band, Somerset, KY
Upton Foundation, Inc., Louisville, KY
Village Point Foundation, Daphne, AL
Vision Innercity Paducah, Inc.,
Paducah, KY
Widows Mite Home for Unwed Mothers
and Their Babies, Utica, MI
Wildlife Rescue, Knoxville, TN
Wings Ministries, Gray, TN
Work Unlimited, Inc., Morganfield, KY
World Outreach, Inc., Eclectic, AL
World War II Preservation Society, Inc.,
Ashland, KY
Wyngate, Inc., Lexington, KY
Young Adult Leadership Association,
Newport News, VA
Youth United With Senior Citizens,
Memphis, TN
If an organization listed above sub-
mits information that warrants the re-
newal of its classification as a public
charity or as a private operating founda-
tion, the Internal Revenue Service will
issue a ruling or determination letter
with the revised classification as to
foundation status. Grantors and contrib-
utors may thereafter rely upon such rul-
ing or determination letter as provided
in section 1.509(a)–7 of the Income Tax
Regulations. It is not the practice of the
Service to announce such revised classi-
fication of foundation status in the Inter-
nal Revenue Bulletin.
Changes in Accounting Periods;
Correction
Announcement 2001–86
AGENCY: Internal Revenue Service
(IRS), Treasury.
ACTION: Correction to notice of pro-
posed rulemaking and notice of public
hearing.
SUMMARY: This document contains
corrections to a notice of proposed rule-
making and notice of public hearing
(REG–106917–99, 2001–27 I.R.B. 4) that
was published in the Federal Registeron
Wednesday, June 13, 2001 (66 FR 31850)
relating to certain adoptions, changes, and
retentions of annual accounting periods.
FOR FURTHER INFORMATION CON-
TACT: Roy A. Hirschhorn and Martin
Scully, Jr. at (202) 622-4960 (not a toll-
free number).
SUPPLEMENTARY INFORMATION:
Background
The notice of proposed rulemaking and
notice of public hearing that are the sub-
ject of this correction are under sections
441, 442, 706, 898, and 1378 of the Inter-
nal Revenue Code.
Need for Correction
As published, the notice of proposed
rulemaking and notice of public hearing
contains errors that may prove to be mis-
leading and are in need of clarification.
Correction of Publication
Accordingly, the publication of the no-
tice of proposed rulemaking and notice of
public hearing (REG–106917–99), which
was the subject of FR Doc. 01–13536, is
corrected as follows:
1. On page 31850, column 3, in the
preamble under the caption “SUM-
MARY:”, line 3, the language “441, 442,
706, and 1378 of the Internal” is corrected
to read “441, 442, 706, 898, and 1378 of
the Internal”.
2. On page 31851, column 2, in the
preamble under the paragraph heading
“A. Overview”, line 4, the language “tax-
able income), and sections 442, 706,” is
corrected to read “taxable income), and
sections 442, 706, 898.”
3. On page 31851, column 3, in the
preamble under the paragraph heading
“B. Section 441: Period for Computing
Taxable Income,”the last line of the first
paragraph, the language “514, 99th
Cong., 2d Sess. 318 (1986).” is corrected
to read “841, 99th Cong., 2d Sess., II–318
1986–3 (Vol. 4) C.B. 318.”
4. On page 31852, column 2, in the
preamble under the paragraph heading
“3. 52-53-week Taxable Years.”, line 8
from the top of the column, the language
“and Notice 2001–35 (IRB 2001–23). In”
2001–35 I.R.B.207August 27, 2001

is corrected to read “and Notice 2001–35
(2001–23 I.R.B. 1314). In”.
5. On page 31852, column 2, in the
preamble under the paragraph heading
“5. Personal Service Corporations.”,
paragraph 1, lines 3 and 4 from the bot-
tom of the column, the language “now
contained in Notice 2001–35 (I.R.B.
2001–23). Similarly, the rules regarding”
is corrected to read “now contained in
Notice 2001–35 (2000–23 I.R.B. 1314).
Similarly, the rules regarding”.
6. On page 31852, column 3, in the
preamble under the paragraph heading
“5. Personal Service Corporations.”,
paragraph 1, the last line of the paragraph,
the language “and Notice 2001–34 (I.R.B.
2001–23).” is corrected to read “and No-
tice 2001–34 (2001–23 I.R.B. 1302).”.
§1.441–3 [Corrected]
7. On page 31859, column 3,
§1.441–3, in paragraph (a)(2), line 3, the
language “taxable year (i.e., a fiscal year)
if elects” is corrected to read “taxable
year (i.e., a fiscal year) if it elects”.
LaNita Van Dyke,
Acting Chief, Regulations Unit,
Associate Chief Counsel
(Income Tax and Accounting).
(Filed by the Office of the Federal Register on Au-
gust 6, 2001, 8:45 a.m., and published in the issue of
the Federal Register for August 7, 2001, 66 F.R.
41170)
IRS Information Reporting
Program (IRP) Seminars
Announcement 2001–87
IRS Announces Year-End Training for
Withholding Agents/ Employers/Payers
To help withholding agents, employers,
and payers who file Forms 1042–S, For-
eign Person’s U.S. Source Income Subject
to Withholding, the Internal Revenue Ser-
vice, Martinsburg Computing Center
(MCC) has arranged the following train-
ing sessions.
Three IRP seminars will be offered in
one-day sessions, free of charge. The ses-
sions will include the following topics:
•Changes to Internal Revenue Code
Section 1441 and Regulations
•Effect of These Changes on Forms,
Publications, and Instructions
•Service Center Processing Changes
•Magnetic/Electronic Format and
Processing Changes
For more information, contact the
IRS/MCC IRP Call Site at 304-263-8700
between 8:30 a.m. and 4:30 p.m., EST,
Monday through Friday or e-mail:
mccirp@irs.gov. The dates and locations
are as follows:
LocationDate
Washington, DCOctober 9
Oakland, CAOctober 17
Chicago, ILOctober 23
Minimum Cost Requirement
Permitting the Transfer of
Excess Assets of a Defined
Benefit Pension Plan to a
Retiree Health Account;
Correction
Announcement 2001–90
AGENCY: Internal Revenue Service
(IRS), Treasury.
ACTION: Correction to final regulations.
SUMMARY: This document contains
corrections to final regulations (T.D. 8948,
2001–28 I.R.B. 27) that were published in
the Federal Registeron Tuesday, June
19, 2001 (66 F.R. 32897) relating to the
minimum cost requirement under section
420, which permits the transfer of excess
assets of a defined benefit pension plan to
a retiree health account.
DATES: This correction is effective June
19, 2001.
FOR FURTHER INFORMATION CON-
TACT: Janet A. Laufer or Vernon S.
Carter at (202) 622-6060 (not a toll-free
number).
SUPPLEMENTARY INFORMATION:
Background
The final regulations that are the sub-
ject of these corrections are under section
420 of the Internal Revenue Code.
Need for Correction
As published, the final regulations con-
tain errors that may prove to be mislead-
ing and are in need of clarification.
Correction of Publication
Accordingly, the publication of the
final regulations (T.D. 8948), which were
the subject of FR Doc. 01–15255, is cor-
rected as follows:
1. On page 32900, column 1, amenda-
tory instruction Paragraph 1., lines 2 and
3, the language “for part 1 continues to
read in part as follows:” is corrected to
read “for part 1 is amended by adding a
new entry in numerical order to read in
part as follows:”.
2. On page 32900, column 1, the au-
thority citation is corrected to read as fol-
lows:
Authority: 26 U.S.C. 7805 * * *
§1.420–1 also issued under 26 U.S.C.
420(c)(3)(E).
LaNita Van Dyke,
Acting Chief, Regulations Unit,
Associate Chief Counsel
(Income Tax and Accounting).
(Filed by the Office of the Federal Register on Au-
gust 6, 2001, 8:45 a.m., and published in the issue of
the Federal Register for August 7, 2001, 66 F.R.
41133)
August 27, 20012082001–35 I.R.B.

2001–35 I.R.B.iAugust 27, 2001
Revenue rulings and revenue procedures
(hereinafter referred to as “rulings”)
that have an effect on previous rulings
use the following defined terms to de-
scribe the effect:
Amplified describes 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
applied to A, and the new ruling holds
that the same principle also applies to B,
the earlier ruling is amplified. (Compare
with modified, below).
Clarified is 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
published ruling and points out an essen-
tial difference between them.
Modified is 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 ap-
plies to both A and B, the prior ruling is
modified because it corrects a published
position. (Compare with amplified and
clarified, above).
Obsoleted describes 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
rulings that are obsoleted because of
changes in law or regulations. A ruling
may also be obsoleted because the sub-
stance has been included in regulations
subsequently adopted.
Revoked describes situations where the
position in the previously published rul-
ing is not correct and the correct position
is being stated in the new ruling.
Superseded describes 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
substance of a prior ruling, a combination
of terms is used. For example, modified
and superseded describes a situation
where the substance of a previously pub-
lished 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 super-
seded.
Supplemented is 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 pub-
lished that includes the list in the original
ruling and the additions, and supersedes
all prior rulings in the series.
Suspended is 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 for-
merly used will appear in material 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.—Statements 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.
Definition of Terms

August 27, 2001ii2001–35 I.R.B.
Numerical Finding List
1
Bulletins 2001–27 through 2001–34
Announcements:
2001–69, 2001–27 I.R.B. 23
2001–70, 2001–27 I.R.B. 23
2001–71, 2001–27 I.R.B. 26
2001–72, 2001–28 I.R.B. 39
2001–73, 2001–28 I.R.B. 40
2001–74, 2001–28 I.R.B. 40
2001–75, 2001–28 I.R.B. 42
2001–76, 2001–29 I.R.B. 67
2001–77, 2001–30 I.R.B. 83
2001–78, 2001–30 I.R.B. 87
2001–79, 2001–31 I.R.B. 97
2001–80, 2001–31 I.R.B. 98
2001–81, 2001–33 I.R.B. 175
2001–82, 2001–32 I.R.B. 123
Court Decisions:
2070, 2001–31 I.R.B. 90
Notices:
2001–39, 2001–27 I.R.B. 3
2001–41, 2001–27 I.R.B. 2
2001–42, 2001–30 I.R.B. 70
2001–43, 2001–30 I.R.B. 72
2001–44, 2001–30 I.R.B. 77
2001–45, 2001–33 I.R.B. 129
2001–46, 2001–32 I.R.B. 122
2001–48, 2001–33 I.R.B. 130
2001–49, 2001–34 I.R.B. 188
2001–50, 2001–34 I.R.B. 189
2001–51, 2001–34 I.R.B. 190
Proposed Regulations:
REG–106917–99, 2001–27 I.R.B. 4
REG–100548–01, 2001–29 I.R.B. 67
Railroad Retirement Quarterly Rates:
2001–27, I.R.B. 1
Revenue Procedures:
2001–30, 2001–29 I.R.B. 46
2001–39, 2001–28 I.R.B. 38
2001–40, 2001–33 I.R.B. 130
2001–41, 2001–33 I.R.B. 173
2001–43, 2001–34 I.R.B. 191
Revenue Rulings:
2001–33, 2001–32 I.R.B. 118
2001–34, 2001–28 I.R.B. 31
2001–35, 2001–29 I.R.B. 59
2001–36, 2001–32 I.R.B. 119
2001–37, 2001–32 I.R.B. 100
2001–38, 2001–33 I.R.B. 124
2001–39, 2001–33 I.R.B. 125
Treasury Decisions:
8947, 2001–28 I.R.B. 36
8948, 2001–28 I.R.B. 27
8949, 2001–28 I.R.B. 33
8950, 2001–28 I.R.B. 34
8951, 2001–29 I.R.B. 63
8952, 2001–29 I.R.B. 60
8953, 2001–29 I.R.B. 44
8954, 2001–29 I.R.B. 47
8955, 2001–32 I.R.B. 101
Treasury Decisions–continued:
8956, 2001–32 I.R.B. 112
8957, 2001–33 I.R.B. 125
8958, 2001–34 I.R.B. 183
8959, 2001–34 I.R.B. 185
8960, 2001–34 I.R.B. 176
1
A cumulative list of all revenue rulings, revenue
procedures, Treasury decisions, etc., published in
Internal Revenue Bulletins 2001–1 through 2001–26
is in Internal Revenue Bulletin 2001–27, dated July
2, 2001.

2001–35 I.R.B.iiiAugust 27, 2001
Finding List of Current Actions on
Previously Published Items
1
Bulletins 2001–27 through 2001–34
Announcements:
2000–48
Modified by
Notice 2001–43, 2001–30 I.R.B. 72
Notices:
2001–4
Modified by
Notice 2001–43, 2001–30 I.R.B. 72
2001–9
Modified by
Notice 2001–46, 2001–32 I.R.B. 122
2001–15
Supplemented by
Notice 2001–51, 2001–34 I.R.B. 190
Proposed Regulations:
LR–97–79
Withdrawn by
REG–100548–01, 2001–29 I.R.B. 67
LR–107–84
Withdrawn by
REG–100548–01, 2001–29 I.R.B. 67
REG–107186–00
Corrected by
Ann. 2001–71, 2001–27 I.R.B. 26
REG–130477–00
Supplemented by
Announcement 2001–82, 2001–32 I.R.B. 123
REG–130481–00
Supplemented by
Announcement 2001–82, 2001–32 I.R.B. 123
Revenue Procedures:
93–27
Clarified by
Rev. Proc. 2001–43, 2001–34 I.R.B. 191
97–13
Modified by
Rev. Proc. 2001–39, 2001–28 I.R.B. 38
98–44
Superseded by
Rev. Proc. 2001–40, 2001–33 I.R.B. 130
2000–20
Modified by
Notice 2001–42, 2001–30 I.R.B. 70
2000–39
Corrected by
Ann. 2001–73, 2001–28 I.R.B. 40
2001–2
Modified by
Rev. Proc. 2001–41, 2001–33 I.R.B. 173
2001–6
Modified by
Notice 2001–42, 2001–30 I.R.B. 70
Revenue Rulings:
57–589
Obsoleted by
REG–106917–99, 2001–27 I.R.B. 4
65–316
Obsoleted by
REG–106917–99, 2001–27 I.R.B. 4
68–125
Obsoleted by
REG–106917–99, 2001–27 I.R.B. 4
69–563
Obsoleted by
REG–106917–99, 2001–27 I.R.B. 4
70–379
Obsoleted by
Rev. Rul. 2001–39, 2001–33 I.R.B. 125
74–326
Obsoleted by
REG–106917–99, 2001–27 I.R.B. 4
78–179
Obsoleted by
REG–106917–99, 2001–27 I.R.B. 4
92–19
Supplemented by
Rev. Rul. 2001–38, 2001–33 I.R.B. 124
1
A cumulative list of current actions on previously
published items in Internal Revenue Bulletins
2001–1 through 2001–26 is in Internal Revenue
Bulletin 2001–27, dated July 2, 2001.

INTERNAL REVENUE BULLETIN
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INTERNAL REVENUE BULLETIN
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