A revenue procedure is an official statement of a procedure published in the Bulletin that either affects the rights or duties of taxpayers or other members of the public under the Internal Revenue Code and related statutes, treaties, and regulations or, although not necessarily affecting the rights and duties of the public, should be a matter of public knowledge. – Rev. Proc. 89-14, 1989-8 I.R.B. 20 The freely available Adobe Acrobat Reader software is required to view, print, and search the items listed below. Click on the year to go to Revenue Procedures for that year. 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 1999 1997 1995 1992 1990 1988 2020 Revenue Procedure 2020-21 (Temporary Relief for Telephonic Hearings to Satisfy Section 147(f) Public Approval Requirement) PDF Revenue Procedure 2020-21 provides temporary relief in response to the Coronavirus Disease 2019 (COVID-19) pandemic regarding the public approval requirement under Section 147(f) of the Internal Revenue Code for tax-exempt qualified private activity bonds. The Revenue Procedure provides that hearings held by teleconference during the period beginning May 4, 2020 and ending December 31, 2020, will be treated as held in a location that, based on the facts and circumstances, is convenient for residents of the approving governmental unit for the purpose of Section 1.147-1(d)(2) of the Income Tax Regulations. Go back to year index 2019 Revenue Procedure 2019-17 (Coordination of general public use requirements for qualified residential rental projects) PDF Revenue Procedure 2019+-17 provides guidance regarding coordination of general public use requirements for qualified residential rental projects financed with tax-exempt bonds under IRC Section 142(d) with provisions in Section 42(g)(9) addressing specified occupancy restrictions or preferences (for example, certain housing preferences for military veterans). Released April 3, 2019 Go back to year index 2018 Revenue Procedure 2018-26 (Remedial Actions for Tax Exempt Bonds) PDF Revenue Procedure 2018-26 provides certain remedial actions that issuers of State and local tax-exempt bonds and other tax-advantaged bonds (including certain tax credit and direct pay bonds) may take to preserve the tax-advantaged status of the bonds when nonqualified uses of the bond proceeds occur. Go back to year index 2017 Revenue Procedure 2017-13 (Private Business Use of Property) This revenue procedure provides safe harbor conditions under which a management contract does not result in private business use of property financed with governmental tax-exempt bonds under IRC Section 141(b) or cause the modified private business use test for property financed with qualified 501(c)(3) bonds under IRC Section 145(a)(2)(B) to be met. This revenue procedure modifies, amplifies, and supersedes Rev. Proc. 2016–44, to address certain types of compensation, the timing of payment of compensation, the treatment of land, and methods of approval of rates. Sections 2.11 through 2.14 of this revenue procedure generally describe the modifications and amplifications made to Rev. Proc. 2016–44 by this revenue procedure. Revenue Procedure 2017-50 (General Arbitrage Rules) PDF This revenue procedure provides guidance to issuers of tax-advantaged bonds on the time for filing claims for recovery of overpayments of arbitrage rebate, payments of penalty in lieu of rebate, and yield reduction payments under Section148. In particular, this revenue procedure extends the deadline for filing claims for recovery of such overpayments to two years after: (1) the date that is 60 days after the final computation date of the issue to which the payment relates; or (2) with respect to the portion of the overpayment paid more than 60 days after the final computation date, the date that the payment was made. Go back to year index 2016 Rev. Proc. 2016-44 (Private Business Use of Property) (This Rev. Proc. was superseded by Rev. Proc. 2017-13) This revenue procedure provides safe harbor conditions under which a management contract does not result in private business use of property financed with governmental tax-exempt bonds under IRC Section 141(b) or cause the modified private business use test for property financed with qualified 501(c)(3) bonds under IRC Section 145(a)(2)(B) to be met. Go back to year index 2015 Rev. Proc. 2015-23 (Median Gross Income Figures to be Used by Issuers of Qualified Mortgage Bonds) PDF This revenue procedure provides guidance with respect to the United States and area median gross income figures that are to be used by issuers of qualified mortgage bonds, as defined in § 143(a) of the Internal Revenue Code, and issuers of mortgage credit certificates, as defined in § 25(c), in computing the income requirements described in § 143(f). Rev. Proc. 2013–27, 2013–24 I.R.B. 1243, is obsolete except as provided in §§ 3.01, 3.02, or 5.01 of this revenue procedure. Go back to year index 2014 Rev. Proc. 2014-31 (Average Residential Purchase Prices to be used by Issuers of Qualified Mortgage Bonds) PDF This revenue procedure provides issuers of qualified mortgage bonds, as defined in section 143(a) of the Internal Revenue Code, and issuers of mortgage credit certificates, as defined in section 25(c), with (1) the nationwide average purchase price for residences located in the United States, and (2) average area purchase price safe harbors for residences located in statistical areas in each state, the District of Columbia, Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin Islands, and Guam.Rev. Proc. 2013-28 is obsolete except as provided in section 6 of this revenue procedure. Rev. Proc. 2014-23 (Median Gross Income Figures to be Used by Issuers of Qualified Mortgage Bonds) This revenue procedure provides guidance with respect to the United States and area median gross income figures that are to be used by issuers of qualified mortgage bonds, as defined in § 143(a) of the Internal Revenue Code, and issuers of mortgage credit certificates, as defined in § 25(c), in computing the income requirements described in § 143(f). Rev. Proc. 2013–27, 2013–24 I.R.B. 1243, is obsolete except as provided in §§ 3.01, 3.02, or 5.01 of this revenue procedure. Go back to year index 2013 Rev. Proc. 2013-28 (Average Residential Purchase Prices to be used by Issuers of Qualified Mortgage Bonds) This revenue procedure provides issuers of qualified mortgage bonds, as defined in section 143(a) of the Internal Revenue Code, and issuers of mortgage credit certificates, as defined in section 25(c), with (1) the nationwide average purchase price for residences located in the United States, and (2) average area purchase price safe harbors for residences located in statistical areas in each state, the District of Columbia, Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin Islands, and Guam. Rev. Proc. 2012-25 is obsolete except as provided in section 6 of this revenue procedure. Rev. Proc. 2013-27 (Median Gross Income Figures to be Used by Issuers of Qualified Mortgage Bonds) This revenue procedure provides guidance with respect to the United States and area median gross income figures that are to be used by issuers of qualified mortgage bonds, as defined in § 143(a) of the Internal Revenue Code, and issuers of mortgage credit certificates, as defined in § 25(c), in computing the income requirements described in § 143(f). Rev. Proc. 2012-16, 2012-10 I.R.B. 452, is obsolete except as provided in §§ 3.01, 3.02, or 5.01 of this revenue procedure. Go to top of page 2012 Rev. Proc. 2012-25 (Average Residential Purchase Prices to be used by Issuers of Qualified Mortgage Bonds) This revenue procedure provides issuers of qualified mortgage bonds, as defined in section 143(a) of the Internal Revenue Code, and issuers of mortgage credit certificates, as defined in section 25(c), with (1) the nationwide average purchase price for residences located in the United States, and (2) average area purchase price safe harbors for residences located in statistical areas in each state, the District of Columbia, Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin Islands, and Guam. Rev. Proc. 2011-23 is obsolete except as provided in section 6 of this revenue procedure. Rev. Proc. 2012-16 (Median Gross Income Figures to be Used by Issuers of Qualified Mortgage Bonds) This revenue procedure provides guidance with respect to the United States and area median gross income figures that are to be used by issuers of qualified mortgage bonds, as defined in § 143(a) of the Internal Revenue Code, and issuers of mortgage credit certificates, as defined in § 25(c), in computing the housing cost/income ratio described in § 143(f)(5). Rev. Proc. 2011-37, 2011-26 I.R.B. 931, is obsolete except as provided in §§ 3.01, 3.02, or 5.01 of this revenue procedures. Go back to year index 2011 Rev. Proc. 2011-52 (Private Activity Bonds, Agricultural Bonds, Arbitrage Rebate, GICs) This revenue procedure provides guidance with respect to private activity bonds volume cap, loan limits on agricultural bonds, general arbitrage rebate rules, safe harbor rules for broker commissions on guaranteed investment contracts or investments purchased for a yield restricted defeasance escrow. Rev. Proc. 2011-37 (Median Gross Income Figures to be Used by Issuers of Qualified Mortgage Bonds) PDF This revenue procedure provides guidance with respect to the United States and area median gross income figures that are to be used by issuers of qualified mortgage bonds, as defined in § 143(a) of the Internal Revenue Code, and issuers of mortgage credit certificates, as defined in § 25(c), in computing the housing cost/income ratio described in § 143(f)(5). Rev. Proc. 2010-23, 2010-24 I.R.B. 762, is obsolete except as provided in §§ 3.01, 3.02, or 5.01 of this revenue procedure. Rev. Proc. 2011-23 (Average Residential Purchase Prices to be used by Issuers of Qualified Mortgage Bonds) PDF This revenue procedure provides issuers of qualified mortgage bonds, as defined in section 143(a) of the Internal Revenue Code, and issuers of mortgage credit certificates, as defined in section 25(c), with (1) the nationwide average purchase price for residences located in the United States, and (2) average area purchase price safe harbors for residences located in statistical areas in each state, the District of Columbia, Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin Islands, and Guam. Rev. Proc. 2010-25 is obsolete except as provided in section 6 of this revenue procedure. Rev. Proc. 2011-19 (Qualified Zone Academy Bond Allocations for 2011) PDF This revenue procedure sets forth the maximum face amount of Qualified Zone Academy Bonds (“QZABs”) that may be issued for each State for the calendar year 2011 under § 54E(c)(2) of the Internal Revenue Code. Under § 54A(e)(3), the term State includes the District of Columbia and any possession of the United States. Go back to year index 2010 Rev. Proc. 2010-25 (Average Residential Purchase Prices to be used by Issuers of Qualified Mortgage Bonds) PDF This revenue procedure provides issuers of qualified mortgage bonds, as defined in section 143(a) of the Internal Revenue Code, and issuers of mortgage credit certificates, as defined in section 25(c), with (1) the nationwide average purchase price for residences located in the United States, and (2) average area purchase price safe harbors for residences located in statistical areas in each state, the District of Columbia, Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin Islands, and Guam. Rev. Proc. 2009-18 is obsolete except as provided in section 6 of this revenue procedure. Rev. Proc. 2010-23 (Median Gross Income Figures to be Used by Issuers of Qualified Mortgage Bonds) PDF This revenue procedure provides guidance with respect to the United States and area median gross income figures that are to be used by issuers of qualified mortgage bonds, as defined in § 143(a) of the Internal Revenue Code, and issuers of mortgage credit certificates, as defined in § 25(c), in computing the housing cost/income ratio described in § 143(f)(5). Rev. Proc. 2009-27, 2009-19 I.R.B. 938, is obsolete except as provided in §§ 3.01, 3.02, or 5.01 of this revenue procedure. Go back to year index 2009 Rev. Proc. 2009-27 (Median Gross Income Figures to be Used by Issuers of Qualified Mortgage Bonds) PDF This revenue procedure provides guidance with respect to the United States and area median gross income figures that are to be used by issuers of qualified mortgage bonds, as defined in § 143(a) of the Internal Revenue Code, and issuers of mortgage credit certificates, as defined in § 25(c), in computing the housing cost/income ratio described in § 143(f)(5). Rev. Proc. 2008-19, 2008-11 I.R.B. 594, is obsolete except as provided in § 5.02 of this revenue procedure. Rev. Proc. 2009-18 (Average Residential Purchase Prices to be used by Issuers of Qualified Mortgage Bonds) PDF This revenue procedure provides issuers of qualified mortgage bonds, as defined in section 143(a) of the Internal Revenue Code, and issuers of mortgage credit certificates, as defined in section 25(c), with (1) the nationwide average purchase price for residences located in the United States, and (2) average area purchase price safe harbors for residences located in statistical areas in each state, the District of Columbia, Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin Islands, and Guam. Rev. Proc. 2008-17 is obsolete except as provided in section 6 of this revenue procedure. Go back to year index 2008 Rev. Proc. 2008-55 (IRS Designates Tribal Entities on Federal Lists as Tribal Governments for Purposes of section 7701(a)(4)) The purpose of this revenue procedure is to designate the Indian tribal entities that appear on current or future lists of federally recognized Indian tribes published annually by the Department of the Interior, Bureau of Indian Affairs, as Indian tribal governments under section 7701(a)(40). Rev. Proc. 2008-37 (Claims for Recovery of Overpayments of Arbitrage Rebate and Similar Payments) PDF This Revenue Procedure provides guidance for issuers of tax-exempt bonds regarding the procedures for claims for recovery of overpayments under §1.148-3(i) of amounts paid to the U.S. under §148 relating to the arbitrage rebate requirement, the penalty in lieu of rebate provisions, or the yield reduction provisions. Rev. Proc. 2008-19 (Median Gross Income Figures to be used by Issuers of Qualified Mortgage Bonds) PDF This Revenue Procedure provides guidance with respect to the U.S. and area median gross income figures that are to be used by issuers of section 143(a) qualified mortgage bonds and section 25(c) mortgage credit certificates to compute the housing-cost-to-income ratio of section 143(f)(5). Rev. Proc. 2008-17 (Average Residential Purchase Prices to be used by Issuers of Qualified Mortgage Bonds) PDF This Revenue Procedure provides issuers of qualified mortgage bonds and issuers of mortgage credit certificates with the nationwide average purchase prices for residences located in the U. S. and the average area purchase price safe harbors for residences located in statistical areas in the states. Go back to year index 2007 Rev. Proc. 2007-66 (Inflation Adjusted Items for 2008) PDF This revenue procedure sets forth inflation adjusted items for 2008. The items include the private activity bonds volume cap, the general arbitrage rebate rules and the safe harbor rules for broker commissions on GIC or investments purchased for a yield restricted defeasance escrow. Rev. Proc 2007-47 (Research Agreements and Private Business Use) PDF This Revenue Procedure sets forth conditions under which a research agreement does not result in private business use under section 141(b) of the Code. It also addresses whether an agreement causes the modified private business use test (section 145(a)(2)(B)) to be met for qualified 501(c)(3) bonds. Rev. Proc. 2007-26 (Average Residential Purchase Prices to be used by Issuers of Qualified Mortgage Bonds) PDF This Revenue Procedure provides issuers of qualified mortgage bonds, as defined in section 143(a), and issuers of mortgage credit certificates, with the nationwide average purchase price for residences (US) and average area purchase price safe harbors for residences in specified locations. Rev. Proc. 2007-18 (National Qualified Zone Academy Bond Limitation for 2006 and 2007) PDF This Revenue Procedure sets forth the maximum face amount of Qualified Zone Academy Bonds that may be issued for each State for each of the calendar years 2006 and 2007. For this purpose,"State" includes the District of Columbia and the possessions of the United States. Go back to year index 2006 Rev. Proc. 2006-40 (Administrative Appeal of Proposed Adverse Determination of Tax-Exempt Status of Bond Issue) PDF This Revenue Procedure provides procedures for an issuer of tax-exempt bonds to request an administrative appeal to the Office of Appeals within the IRS from a proposed adverse determination by the Office of Tax Exempt Bonds to the effect that an issue fails to qualify for the exclusion of interest. Rev. Proc. 2006-17 (Average Residential Purchase Prices to be used by Issuers of Qualified Mortgage Bonds) PDF This Revenue Procedure issuers of qualified mortgage bonds with the nationwide average purchase prices for residences in the US and average area purchase price safe harbors for residences in statistical areas in each state, DC, and US territories. (Obsoletes 2005-15 except as noted in sec. 6). Go back to year index 2005 Rev. Proc. 2005-40 (Late Filing 8038-T) PDF This Revenue Procedure provides issuers of tax exempt bonds subject to Section 148(f)(3) and 1.148-3(g) with procedures for correcting a failure to timely pay the proper amount of arbitrage rebate. It also modifies Rev. Proc. 90-11 and provides a new address for filing late rebate payments. Rev. Proc. 2005-30 (Procedures for Obtaining Automatic Extension to Make Volume Cap Carryforward Election) PDF This Revenue Procedure provides that an issuing authorty that fails to make a timely carryforward election of unused volume cap under section 146(f) may be granted an automatic six month extension if it complies with the requirements of section 4 of the Revenue Procedure. Rev. Proc. 2005-22 (Median Gross Income Figures to be Used by Issuers of Qualified Mortgage Bonds) PDF This Revenue Procedure provides guidance with respect to the U.S. and area median gross income figures that are to be used by issuers of qualified mortgage bonds in computing the housing cost/income ratio described in section 143(f)(5). Rev. Proc. 2005-15 (Average Residential Purchase Prices to be used by Issuers of Qualified Mortgage Bonds) PDF This Revenue Procedure provides issuers of qualified mortgage bonds with (1) the nationwide average purchase for residences in the US and (2) average area purchase price safe harbors for residences in statistical areas in each state, DC, and US territories. Go back to year index 2004 Rev. Proc. 2004-72 (QZABS) PDF This Revenue Procedure sets forth the maximum face amount of Qualified Zone Academy Bonds that may be issued for each State for the calendar year 2005. Rev. Proc. 2004-71 (Inflation Adjustments for 2005) PDF This Revenue Procedure sets out the amounts used to calculate the State ceiling for volume cap for private activity bonds for years beginning in 2005 and Section 3.16 sets out the safe harbor rules for broker commissions on guaranteed investment contracts for 2005. Rev. Proc. 2004-39, 2002-29 I.R.B. 49 (Qualified residential rental projects) (07/19/04) PDF This Revenue Procedure sets forth procedures for determining whether a residential rental project is in compliance with the applicable set-aside requirements contained in section 142(d) during the qualified project period (as defined in section 142(d)(2)(A)). Go back to year index 2003 Rev. Proc. 2003-46 2003-28 I.R.B. 54 (07/14/2003) (Correction of certain forms 8328) PDF This Revenue Procedure sets forth procedures under IRC section 146(f) for correcting certain Forms 8328 (Carryforward Election of Unused Private Activity Bond Volume Cap) that were improperly filed by an authority (other than the issuing authority) authorized under state law to allocate state private activity bond volume cap to issuing authorities (the "allocating authority"). The correction is needed because the Form 8328 should have been filed by the issuing authority. Rev. Proc. 2003-15, 2003-4 I.R.B. 321 PDF This Revenue Procedure supersedes Rev. Proc. 93-98 and provides issuers of qualified mortgage bonds (as defined in IRC section 143(a)) and issuers of mortgage credit certificates (as defined in section 25(c)) with a list of qualified census tracts for each state and the District of Columbia. Go back to year index 2002 Rev. Proc. 2002-72, 2002-49 I.R.B. 931 PDF Pursuant to IRC section 1397E(e)(2), this Revenue Procedure allocates among the States the national limitation for Qualified Zone Academy Bonds for the calendar year 2003. For this purpose, the term “State” includes the District of Columbia and the possessions of the United States. Rev. Proc. 2002-71, 2002-46 I.R.B. 850 PDF Section 16 sets out a list of time-sensitive tax-exempt bond related acts required by the Code or regulations that may be postponed by those affected by presidentially-declared disasters. Rev. Proc. 2002-70, 2002-46 I.R.B. 845 PDF Section 3.14 provides that, for calendar years beginning in 2003, the amount used under section 146(d)(1) to calculate the State ceiling for the volume cap for private activity bonds is the greater of (1) $75 multiplied by the State population or (2) $228,580,000. Rev. Proc. 2002-48, 2002-37 I.R.B. 531 PDF This Revenue Procedure supersedes Rev. Proc. 88-10 and provides guidance to issuers of state or local bonds for requesting an extension of time to file or for amending the statement of information required by IRC section 149(e). In general, these statements must be filed on Forms 8038, 8038-G and 8038-GC. Rev. Proc. 2002-25, 2002-17 I.R.B. 800 PDF This Revenue Procedure allocates among the States the 2002 national limitation amount of Qualified Zone Academy Bonds that may be issued for the calendar year 2002. Go back to year index 2001 Rev. Proc. 2001-39, 2001-28 I.R.B. 38 PDF This Revenue Procedure modifies the definitions of capitation fee and per-unit fee set forth in Rev. Proc. 97-13, 1997-1 I.R.B. 632 PDF , to permit an automatic increase of those fees according to the specified, objective, external standard that is not linked to the output or efficiency of a facility (for example, the Consumer Price Index). Rev. Proc. 2001-1, 2001-1 I.R.B. 1 PDF / Rev. Proc. 96-16, 1996-3 I.R.B. 45 PDF These Revenue Procedures provide guidance with respect to filing requests for rulings from the Office of the Associate Chief Counsel (TE/GE) concerning excludability of interest on bonds from gross income under section 103 of the Internal Revenue Code. Go back to year index 1999 Rev. Proc. 99-35, 1999-41 I.R.B. 301 PDF Procedures are provided for issuers to request an administrative appeal to the Office of Appeals of a proposed determination by the District office that interest on a bond issue is not excludable form gross income under section 103 of the Code. Go back to year index 1997 Rev. Proc. 97-22 (Recordkeeping - Electronic Storage System) PDF This revenue procedure provides guidance to taxpayers that maintain books and records by using an electronic storage system that either images their hardcopy (paper) books and records, or transfers their computerized books and records, to an electronic storage media, such as an optical disk. Records maintained in an electronic storage system that complies with the requirements of this revenue procedure will constitute records within the meaning of § 6001 of the Internal Revenue Code. Rev. Proc. 97-15, 1997-5 I.R.B. 21 PDF This Revenue Procedure provides a program under which an issuer of state or local bonds may request a closing agreement regarding outstanding bonds which fail to meet certain requirements of sections 141 through 150 of the Code relating to use of proceeds as a result of an action subsequent to the issue date. [Note: The TEB office also has a voluntary closing agreement program ("VCAP") in place. Please contact our Outreach, Planning and Review function for additional information.] Rev. Proc. 97-13, 1997-5 I.R.B. 18 PDF The purpose of this revenue procedure is to set forth conditions under which a management contract does not result in private business use under § 141(b) of the Internal Revenue Code of 1986. This revenue procedure also applies to determinations of whether a management contract causes the test in § 145(a)(2)(B) of the 1986 Code to be met for qualified 501(c)(3) bonds. Go back to year index 1995 Rev. Proc. 95-47, 1995-47 I.R.B. 12 This Revenue Procedure sets forth the conditions under which an issuer of State or local bonds may make payments to the U.S. to reduce the yield on investments purchased with the proceeds of advance refunding bonds on a date when the issuer is unable to purchase United States Treasury securities-State and Local Government Series (SLGs) because the Department of the Treasury has suspended the sale of such securities. Go back to year index 1992 Rev. Proc. 92-83, 1990-2 C.B. 487 PDF This Revenue Procedure provides guidance to issuers of tax-exempt bonds that seek to recover overpayments of amounts paid under sections 1.48-1 through 1.148-8 of the Income Tax Regulations. [Note: Submissions pursuant to Rev. Proc. 92-83 should now be sent to the IRS Service Center, Ogden, UT 84201.] Form 8038-R PDF replaces the procedures of Rev. Proc. 92-83, which is currently under revision (see Announcement 2001-115 PDF). Go back to year index 1990 Rev. Proc. 90-11, 1990-1 C.B. 469 PDF This Revenue Procedure provides issuers of state or local bonds described in section 103(a) of the Internal Revenue Code with guidance for filing (1) a request for an extension of time to pay a correction amount of arbitrage rebate, (2) an explanation of an innocent failure to meet a requirement for payment of arbitrage rebate, or (3) a request for a ruling regarding a failure (other than a an innocent failure or one that is so treated) to meet a requirement for payment of arbitrage rebate. Go back to year index 1988 Rev. Proc. 88-10, 1988-1 C.B. 635 PDF This Revenue Procedure provides guidance to issuers of state or local bonds for requesting an extension of time to file the statement of information required by section 149(e) of Internal Revenue Code. Go back to year index
