Inflation Adjusted Items for 2009
This revenue procedure sets forth inflation
adjusted items for 2009.
.01 For taxable years beginning after
2008, the $3,000 increase to the phaseout
amounts of the earned income tax credit
for married taxpayers filing a joint return
under § 32(b)(2)(B)(iii) are adjusted for inflation.
The adjusted amounts are included
in the amounts shown in section 3.06(1) of
this revenue procedure.
.02 Section 42(h)(3)(I) was added to
the Code by section 3001, Division C,
Title I, of the Housing and Economic Recovery
Act of 2008, Pub. L. No. 110–289,
122 Stat. 2654 (2008), to provide for a
temporary increase in the State housing
credit ceiling under § 42(h)(3)©(ii)(I)
and (II) after any adjustments for inflation
under § 42(h)(3)(H). Accordingly, for calendar
years 2008 and 2009, the inflation
adjusted amount under § 42(h)(3)©(ii)(I)
is increased by $0.20, and the inflation adjusted
amount under § 42(h)(3)©(ii)(II)
is increased by ten (10) percent and
rounded to the next lowest multiple of
$5,000. (See section 3.07 of this revenue
procedure.)
.03 Section 147©(2) was amended by
section 15341, Title XV, Subtitle C, Part
III, of the Food Conservation and Energy
Act of 2008, Pub. L. No. 110–246, 122
Stat. 1651 (2008), to provide for an increase
in the loan limits on agricultural
bonds for first-time farmers. For calendar
year 2008, the limit is $450,000. For
calendar years after 2008, the $450,000
amount will be adjusted for inflation. (See
section 3.16 of this revenue procedure.)
.04 Section 877A was added to the
Code by section 301(a) of Title III of the
Heroes Earnings Assistance and Relief
Tax Act of 2008, Pub. L. No. 110–245,
122 Stat. 1624 (2008), to provide spe-
2008–45 I.R.B. 1108 November 10, 2008
cial rules for the treatment of property of
certain individuals who are “covered expatriates,”
and who cease to be treated as
long term residents or who relinquish their
U.S. citizenship (expatriate). Pursuant
to § 877A(a)(1), covered expatriates, as
defined in § 877A(g)(1), are subject to
income tax on the net unrealized gain in
their property as if the property had been
sold for its fair market value on the day
before the expatriation date, as defined in
§ 877A(g)(3). Section 877A(a)(3) provides
that the amount of gain includible
in gross income under § 877A(a)(1) is
reduced (but not below zero) by $600,000.
For taxable years beginning in a calendar
year after 2008, the $600,000 amount is
adjusted for inflation. (See sections 3.26
and 3.27 of this revenue procedure.)
.05 The passenger air transportation excise
taxes imposed under § 4261(b) and
©, as extended by § 2(b)(1) of the Federal
Aviation Administration Extension Act of
2008, Part II, Pub. L. No. 110–330,
122 Stat. 3717 (2008), apply to transportation
taken through March 31, 2009,
and to amounts paid on or before March
31, 2009, for transportation beginning after
that date. Accordingly, the amounts in
§ 4261(b) and (c) are adjusted for inflation
for 2009 and are included in this revenue
procedure. (See section 3.32 of this revenue
procedure.)
.06 The dollar limit on contributions to
funeral trusts under § 685© was repealed
110–317, 122 Stat. 3526 (2008), for
taxable years beginning after August 29,
2008. Accordingly, the dollar limitation
under § 685© is no longer included in
this revenue procedure.
.01 Tax Rate Tables. For taxable years
beginning in 2009, the tax rate tables under
§ 1 are as follows:
TABLE 1 — Section 1(a) — Married Individuals Filing Joint Returns and Surviving Spouses.
If Taxable Income Is: The Tax Is:
Not over $16,700 10% of the taxable income
Over $16,700 but not over $67,900
$1,670 plus 15% of the excess over $16,700
Over $67,900 but not over $137,050
$9,350 plus 25% of the excess over $67,900
Over $137,050 but not over $208,850
$26,637.50 plus 28% of the excess over $137,050
Over $208,850 but not over $372,950
$46,741.50 plus 33% of the excess over $208,850
Over $372,950 $100,894.50 plus 35% of the excess over $372,950
TABLE 2 — Section 1(b) — Heads of Households.
If Taxable Income Is: The Tax Is:
Not over $11,950 10% of the taxable income
Over $11,950 but not over $45,500
$1,195 plus 15% of the excess over $11,950
Over $45,500 but not over $117,450
$6,227.50 plus 25% of the excess over $45,500
Over $117,450 but not over $190,200
$24,215 plus 28% of the excess over $117,450
Over $190,200 but not over $372,950
$44,585 plus 33% of the excess over $190,200
Over $372,950 $104,892.50 plus 35% of the excess over $372,950
TABLE 3 — Section 1© — Unmarried Individuals (other than Surviving Spouses and Heads of Households).
If Taxable Income Is: The Tax Is:
Not over $8,350 10% of the taxable income
Over $8,350 but not over $33,950
$835 plus 15% of the excess over $8,350
Over $33,950 but not over $82,250
$4,675 plus 25% of the excess over $33,950
Over $82,250 but not over $171,550
$16,750 plus 28% of the excess over $82,250
Over $171,550 but not over $372,950
$41,754 plus 33% of the excess over $171,550
Over $372,950 $108,216 plus 35% of the excess over $372,950
TABLE 4 — Section 1(d) — Married Individuals Filing Separate Returns.
If Taxable Income Is: The Tax Is:
Not over $8,350 10% of the taxable income
Over $8,350 but not over $33,950
$835 plus 15% of the excess over $8,350
Over $33,950 but not over $68,525
$4,675 plus 25% of the excess over $33,950
Over $68,525 but not over $104,425
$13,318.75 plus 28% of the excess over $68,525
Over $104,425 but not over $186,475
$23,370.75 plus 33% of the excess over $104,425
Over $186,475 $50,447.25 plus 35% of the excess over $186,475
TABLE 5 — Section 1(e) — Estates and Trusts.
If Taxable Income Is: The Tax Is:
Not over $2,300 15% of the taxable income
Over $2,300 but not over $5,350
$345 plus 25% of the excess over $2,300
Over $5,350 but not over $8,200
$1,107.50 plus 28% of the excess over $5,350
Over $8,200 but not over $11,150
$1,905.50 plus 33% of the excess over $8,200
Over $11,150 $2,879 plus 35% of the excess over $11,150
.02 Unearned Income of Minor
Children Taxed as if Parent’s Income
(the “Kiddie Tax”). For taxable years
beginning in 2009, the amount in
§ 1(g)(4)(A)(ii)(I), which is used to reduce
the net unearned income reported on the
child’s return that is subject to the “kiddie
tax,” is $950. This amount is the same
as the $950 standard deduction amount
provided in section 3.10(2) of this revenue
procedure. The same $950 amount
is used for purposes of § 1(g)(7) (that is,
to determine whether a parent may elect
to include a child’s gross income in the
parent’s gross income and to calculate the
2008–45 I.R.B. 1110 November 10, 2008
“kiddie tax”). For example, one of the
requirements for the parental election is that
a child’s gross income is more than the
amount referenced in § 1(g)(4)(A)(ii)(I)
but less than 10 times that amount; thus,
a child’s gross income for 2009 must be
more than $950 but less than $9,500.
.03 Adoption Credit. For taxable years
beginning in 2009, under § 23(a)(3) the
credit allowed for an adoption of a child
with special needs is $12,150. For taxable
years beginning in 2009, under § 23(b)(1)
the maximum credit allowed for other
adoptions is the amount of qualified adoption
expenses up to $12,150. The available
adoption credit begins to phase out under
§ 23(b)(2)(A) for taxpayers with modified
adjusted gross income in excess of
$182,180 and is completely phased out for
taxpayers with modified adjusted gross
income of $222,180 or more. (See section
3.14 of this revenue procedure for the adjusted
items relating to adoption assistance
programs.)
.04 Child Tax Credit. For taxable
years beginning in 2009, the value used in
§ 24(d)(1)(B)(i) to determine the amount
of credit under § 24 that may be refundable
is $12,550.
.05 Hope and Lifetime Learning Credits.
(1) For taxable years beginning in
2009, the Hope Scholarship Credit under
§ 25A(b)(1) is an amount equal to 100
percent of qualified tuition and related
expenses not in excess of $1,200 plus
50 percent of those expenses in excess
of $1,200, but not in excess of $2,400.
Accordingly, the maximum Hope Scholarship
Credit allowable under § 25A(b)(1)
for taxable years beginning in 2009 is
$1,800.
(2) For taxable years beginning in 2009,
a taxpayer’s modified adjusted gross income
in excess of $50,000 ($100,000 for
a joint return) is used to determine the
reduction under § 25A(d)(2)(A)(ii) in the
amount of the Hope Scholarship and Lifetime
Learning Credits otherwise allowable
under § 25A(a).
.06 Earned Income Credit.
(1) In general. For taxable years beginning
in 2009, the following amounts
are used to determine the earned income
credit under § 32(b). The “earned income
amount” is the amount of earned
income at or above which the maximum
amount of the earned income credit is allowed.
The “threshold phaseout amount”
is the amount of adjusted gross income
(or, if greater, earned income) above which
the maximum amount of the credit begins
to phase out. The “completed phaseout
amount” is the amount of adjusted gross
income (or, if greater, earned income) at
or above which no credit is allowed. The
threshold phaseout amounts and the completed
phaseout amounts shown in the table
below for married taxpayers filing a
joint return include the increase provided
in § 32(b)(2)(B)(iii), as adjusted for inflation
for taxable years beginning in 2009.
Number of Qualifying Children
Item One Two or More None
Earned Income Amount $ 8,950 $12,570 $ 5,970
Maximum Amount of Credit $ 3,043 $ 5,028 $ 457
Threshold Phaseout Amount
(Single, Surviving Spouse, or Head of
Household)
$16,420 $16,420 $ 7,470
Completed Phaseout Amount
(Single, Surviving Spouse, or Head of
Household)
$35,463 $40,295 $13,440
Threshold Phaseout Amount
(Married Filing Jointly)
$19,540 $19,540 $10,590
Completed Phaseout Amount
(Married Filing Jointly)
$38,583 $43,415 $16,560
The instructions for the Form 1040 series
provide tables showing the amount of
the earned income credit for each type of
taxpayer.
(2) Excessive investment income. For
taxable years beginning in 2009, the
earned income tax credit is not allowed
under § 32(i) if the aggregate amount
of certain investment income exceeds
$3,100.
.07 Low-Income Housing Credit. For
calendar year 2009, the amount used under
§ 42(h)(3)©(ii) to calculate the State
housing credit ceiling for the low-income
housing credit is the greater of (1) $2.30
multiplied by the State population, or (2)
$2,665,000.
.08 Alternative Minimum Tax Exemption
for a Child Subject to the “Kiddie
Tax.” For taxable years beginning in 2009,
for a child to whom the § 1(g) “kiddie tax”
applies, the exemption amount under §§ 55
and 59(j) for purposes of the alternative
minimum tax under § 55 may not exceed
the sum of (1) the child’s earned income
for the taxable year, plus (2) $6,700.
.09 Transportation Mainline Pipeline
Construction Industry Optional Expense
Substantiation Rules for Payments to Employees
under Accountable Plans. For
calendar year 2009, an eligible employer
may pay certain welders and heavy equipment
mechanics an amount of up to $16
per hour for rig-related expenses that is
deemed substantiated under an accountable
plan if paid in accordance with Rev.
Proc. 2002–41, 2002–1 C.B. 1098. If the
employer provides fuel or otherwise reimburses
fuel expenses, up to $10 per hour
is deemed substantiated if paid under Rev.
Proc. 2002–41.
.10 Standard Deduction.
November 10, 2008 1111 2008–45 I.R.B.
(1) In general. For taxable years beginning
in 2009, the standard deduction
amounts under § 63©(2) are as follows:
Filing Status Standard Deduction
Married Individuals Filing Joint Returns and Surviving Spouses (§ 1(a)) $11,400
Heads of Households (§ 1(b)) $ 8,350
Unmarried Individuals (other than Surviving Spouses and Heads of Households) (§ 1©) $ 5,700
Married Individuals Filing Separate Returns (§ 1(d)) $ 5,700
(2) Dependent. For taxable years beginning
in 2009, the standard deduction
amount under § 63©(5) for an individual
who may be claimed as a dependent by another
taxpayer cannot exceed the greater of
(1) $950, or (2) the sum of $300 and the individual’s
earned income.
(3) Aged or blind. For taxable years
beginning in 2009, the additional standard
deduction amount under § 63(f) for the
aged or the blind is $1,100. These amounts
are increased to $1,400 if the individual is
also unmarried and not a surviving spouse.
.11 Overall Limitation on Itemized Deductions.
For taxable years beginning in
2009, the “applicable amount” of adjusted
gross income under § 68(b), above which
the amount of otherwise allowable itemized
deductions is reduced under § 68, is
$166,800 (or $83,400 for a separate return
filed by a married individual).
.12 Qualified Transportation Fringe.
For taxable years beginning in 2009, the
monthly limitation under § 132(f)(2)(A),
regarding the aggregate fringe benefit
exclusion amount for transportation in a
commuter highway vehicle and any transit
pass, is $120. The monthly limitation
under § 132(f)(2)(B), regarding the fringe
benefit exclusion amount for qualified
parking, is $230.
.13 Income from United States Savings
Bonds for Taxpayers Who Pay Qualified
Higher Education Expenses. For taxable
years beginning in 2009, the exclusion under
§ 135, regarding income from United
States savings bonds for taxpayers who
pay qualified higher education expenses,
begins to phase out for modified adjusted
gross income above $104,900 for joint
returns and $69,950 for other returns.
The exclusion is completely phased out
for modified adjusted gross income of
$134,900 or more for joint returns and
$84,950 or more for other returns.
.14 Adoption Assistance Programs. For
taxable years beginning in 2009, under
§ 137(a)(2) the amount that can be excluded
from an employee’s gross income
for the adoption of a child with special
needs is $12,150. For taxable years beginning
in 2009, under § 137(b)(1) the
maximum amount that can be excluded
from an employee’s gross income for the
amounts paid or expenses incurred by an
employer for qualified adoption expenses
furnished pursuant to an adoption assistance
program for other adoptions by the
employee is $12,150. The amount excludable
from an employee’s gross income begins
to phase out under § 137(b)(2)(A) for
taxpayers with modified adjusted gross income
in excess of $182,180 and is completely
phased out for taxpayers with modified
adjusted gross income of $222,180 or
more. (See section 3.03 of this revenue
procedure for the adjusted items relating to
the adoption credit.)
.15 Private Activity Bonds Volume Cap.
For calendar year 2009, the amounts used
under § 146(d)(1) to calculate the State
ceiling for the volume cap for private
activity bonds is the greater of (1) $90
multiplied by the State population, or (2)
$273,270,000.
.16 Loan Limits for Agricultural Bonds.
For calendar year 2009, the loan limit
amount on agricultural bonds under
§ 147©(2)(A) for first-time farmers is
$469,200.
.17 General Arbitrage Rebate Rules.
For bond years ending in 2009, the amount
of the computation credit determined
under § 1.148–3(d)(4) of the proposed
Income Tax Regulations is $1,490.
.18 Safe Harbor Rules for Broker
Commissions on Guaranteed Investment
Contracts or Investments Purchased
for a Yield Restricted Defeasance Escrow.
For calendar year 2009, under
§ 1.148–5(e)(2)(iii)(B)(1), a broker’s commission
or similar fee for the acquisition
of a guaranteed investment contract or investments
purchased for a yield restricted
defeasance escrow is reasonable if (1) the
amount of the fee that the issuer treats as
a qualified administrative cost does not
exceed the lesser of (A) $35,000, and (B)
0.2 percent of the computational base (as
defined in § 1.148–5(e)(2)(iii)(B)(2)) or,
if more, $4,000; and (2) the issuer does
not treat more than $99,000 in brokers’
commissions or similar fees as qualified
administrative costs for all guaranteed
investment contracts and investments for
yield restricted defeasance escrows purchased
with gross proceeds of the issue.
.19 Personal Exemption.
(1) Exemption amount. For taxable
years beginning in 2009, the personal exemption
amount under § 151(d) is $3,650.
The exemption amount for taxpayers with
adjusted gross income in excess of the
maximum phaseout amount is $2,433 for
taxable years beginning in 2009.
(2) Phaseout. For taxable years beginning
in 2009, the personal exemption
amount begins to phase out at, and reaches
the maximum phaseout amount after, the
following adjusted gross income amounts:
2008–45 I.R.B. 1112 November 10, 2008
Filing Status AGI – Beginning
of Phaseout
AGI – Maximum
Phaseout
Married Individuals Filing Joint Returns and Surviving Spouses (§ 1(a)) $250,200 $372,700
Heads of Households (§ 1(b)) $208,500 $331,000
Unmarried Individuals (other than Surviving Spouses and Heads of Households) (§ 1©) $166,800 $289,300
Married Individuals Filing Separate Returns (§ 1(d)) $125,100 $186,350
.20 Election to Expense Certain Depreciable
Assets. For taxable years beginning
in 2009, under § 179(b)(1) the aggregate
cost of any § 179 property a taxpayer may
elect to treat as an expense cannot exceed
$133,000. Under § 179(b)(2) the $133,000
limitation is reduced (but not below zero)
by the amount by which the cost of § 179
property placed in service during the 2009
taxable year exceeds $530,000.
.21 Eligible Long-Term Care Premiums.
For taxable years beginning in 2009,
the limitations under § 213(d)(10), regarding
eligible long-term care premiums
includible in the term “medical care,” are
as follows:
Attained Age Before the Close of the Taxable Year Limitation on Premiums
40 or less $ 320
More than 40 but not more than 50 $ 600
More than 50 but not more than 60 $1,190
More than 60 but not more than 70 $3,180
More than 70 $3,980
22 Medical Savings Accounts.
(1) Self-only coverage. For taxable
years beginning in 2009, the term “high
deductible health plan” as defined in
§ 220©(2)(A) means, for self-only coverage,
a health plan that has an annual
deductible that is not less than $2,000 and
not more than $3,000, and under which the
annual out-of-pocket expenses required
to be paid (other than for premiums) for
covered benefits do not exceed $4,000.
(2) Family coverage. For taxable years
beginning in 2009, the term “high deductible
health plan” means, for family
coverage, a health plan that has an annual
deductible that is not less than $4,000 and
not more than $6,050, and under which the
annual out-of-pocket expenses required
to be paid (other than for premiums) for
covered benefits do not exceed $7,350.
.23 Interest on Education Loans. For
taxable years beginning in 2009, the
$2,500 maximum deduction for interest
paid on qualified education loans
under § 221 begins to phase out under
§ 221(b)(2)(B) for taxpayers with modified
adjusted gross income in excess of
$60,000 ($120,000 for joint returns), and
is completely phased out for taxpayers
with modified adjusted gross income of
$75,000 or more ($150,000 or more for
joint returns).
.24 Treatment of Dues Paid to Agricultural
or Horticultural Organizations. For
taxable years beginning in 2009, the limitation
under § 512(d)(1), regarding the exemption
of annual dues required to be paid
by a member to an agricultural or horticultural
organization, is $145.
.25 Insubstantial Benefit Limitations
for Contributions Associated with Charitable
Fund-Raising Campaigns.
(1) Low cost article. For taxable years
beginning in 2009, the unrelated business
income of certain exempt organizations
under § 513(h)(2) does not include a “low
cost article” of $9.50 or less.
(2) Other insubstantial benefits. For
taxable years beginning in 2009, the $5,
$25, and $50 guidelines in section 3 of
Rev. Proc. 90–12, 1990–1 C.B. 471 (as
amplified by Rev. Proc. 92–49, 1992–1
C.B. 987, and modified by Rev. Proc.
92–102, 1992–2 C.B. 579), for disregarding
the value of insubstantial benefits
received by a donor in return for a fully
deductible charitable contribution under
§ 170, are $9.50, $47.50, and $95, respectively.
.26 Expatriation to Avoid Tax. For
calendar year 2009, an individual with
“average annual net income tax” of more
than $145,000 for the five taxable years
ending before the date of the loss of United
States citizenship under § 877(a)(2)(A)
is a covered expatriate for purposes of
§ 877A(g)(1).
.27 Tax Responsibilities of Expatriation.
For taxable years beginning in 2009,
the amount that would be includible in the
gross income of a covered expatriate by
reason of § 877A(a)(1) is reduced (but not
below zero) by $626,000.
.28 Foreign Earned Income Exclusion.
For taxable years beginning in 2009, the
foreign earned income exclusion amount
under § 911(b)(2)(D)(i) is $91,400.
.29 Valuation of Qualified Real Property
in Decedent’s Gross Estate. For an
estate of a decedent dying in calendar year
2009, if the executor elects to use the special
use valuation method under § 2032A
for qualified real property, the aggregate
decrease in the value of qualified real property
resulting from electing to use § 2032A
for purposes of the estate tax cannot exceed
$1,000,000.
.30 Annual Exclusion for Gifts.
(1) For calendar year 2009, the first
$13,000 of gifts to any person (other than
gifts of future interests in property) are
not included in the total amount of taxable
(2) For calendar year 2009, the first
$133,000 of gifts to a spouse who is not
a citizen of the United States (other than
gifts of future interests in property) are
not included in the total amount of taxable
gifts under §§ 2503 and 2523(i)(2) made
during that year.
.31 Tax on Arrow Shafts. For calendar
year 2009, the tax imposed under
§ 4161(b)(2)(A) on the first sale by the
manufacturer, producer, or importer of any
shaft of a type used in the manufacture of
certain arrows is $0.45 per shaft.
.32 Passenger Air Transportation Excise
Tax. For calendar year 2009, the
tax under § 4261(b) on the amount paid
for each domestic segment of taxable air
transportation is $3.60. For calendar year
2009, the tax under § 4261© on any
amount paid (whether within or without
the United States) for any air transportation,
if the transportation begins or ends
in the United States, generally is $16.10.
However, for a domestic segment beginning
or ending in Alaska or Hawaii as
described in § 4261©(3), the tax applies
only to departures and the rate is $8.00.
.33 Reporting Exception for Certain
Exempt Organizations with Nondeductible
Lobbying Expenditures. For taxable years
beginning in 2009, the annual per person,
family, or entity dues limitation to
qualify for the reporting exception under
§ 6033(e)(3) (and section 5.05 of Rev.
Proc. 98–19, 1998–1 C.B. 547), regarding
certain exempt organizations with nondeductible
lobbying expenditures, is $101 or
less.
.34 Notice of Large Gifts Received from
Foreign Persons. For taxable years beginning
in 2009, recipients of gifts from certain
foreign persons may be required to report
these gifts under § 6039F if the aggregate
value of gifts received in a taxable
year exceeds $14,139.
.35 Persons Against Whom a Federal
Tax Lien Is Not Valid. For calendar year
2009, a federal tax lien is not valid against
(1) certain purchasers under § 6323(b)(4)
who purchased personal property in a
casual sale for less than $1,380, or (2)
a mechanic’s lienor under § 6323(b)(7)
that repaired or improved certain residential
property if the contract price with the
owner is not more than $6,880.
.36 Property Exempt from Levy. For
calendar year 2009, the value of property
exempt from levy under § 6334(a)(2) (fuel,
provisions, furniture, and other household
personal effects, as well as arms for personal
use, livestock, and poultry) cannot
exceed $8,230. The value of property exempt
from levy under § 6334(a)(3) (books
and tools necessary for the trade, business,
or profession of the taxpayer) cannot exceed
$4,120.
.37 Interest on a Certain Portion of the
Estate Tax Payable in Installments. For an
estate of a decedent dying in calendar year
2009, the dollar amount used to determine
the “2-percent portion” (for purposes of
calculating interest under § 6601(j)) of the
estate tax extended as provided in § 6166
is $1,330,000.
.38 Attorney Fee Awards. For fees
incurred in calendar year 2009, the
attorney fee award limitation under
§ 7430©(1)(B)(iii) is $180 per hour.
.39 Periodic Payments Received under
Qualified Long-Term Care Insurance
Contracts or under Certain Life Insurance
Contracts. For calendar year 2009,
the stated dollar amount of the per diem
limitation under § 7702B(d)(4), regarding
periodic payments received under a qualified
long-term care insurance contract or
periodic payments received under a life
insurance contract that are treated as paid
by reason of the death of a chronically ill
individual, is $280.
.01 General Rule. Except as provided
in section 4.02, this revenue procedure applies
to taxable years beginning in 2009.
.02 Calendar Year Rule. This revenue
procedure applies to transactions or events
occurring in calendar year 2009 for purposes
of sections 3.07 (low-income housing
credit), 3.09 (transportation mainline
pipeline construction industry optional
expense substantiation rules for payments
to employees under accountable plans),
3.15 (private activity bond volume cap),
3.16 (loan limits on agricultural bonds),
3.17 (general arbitrage rebate rules), 3.18
(safe harbor rules for broker commissions
on guaranteed investment contracts or investments
purchased for a yield restricted
defeasance escrow), 3.26 (expatriation to
avoid tax), 3.29 (valuation of qualified
real property in decedent’s gross estate),
3.30 (annual exclusion for gifts), 3.31 (tax
on arrow shafts), 3.32 (passenger air transportation
excise tax), 3.35 (persons against
whom a federal tax lien is not valid), 3.36
(property exempt from levy), 3.37 (interest
on a certain portion of the estate tax
payable in installments), 3.38 (attorney
fee awards), and 3.39 (periodic payments
received under qualified long-term care
insurance contracts or under certain life
insurance contracts).
INFORMATION
The principal author of this revenue
procedure is Christina M. Glendening of
the Office of Associate Chief Counsel
(Income Tax & Accounting). For further
information regarding this revenue procedure,
contact Ms. Glendening at (202)
622–4920 (not a toll-free call).
