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Revenue Procedures

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, 

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Click on the year to go to Revenue Procedures for that year.

2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 1999 1997 1995 1992 1990 1988


2014

Rev. Proc. 2014-31 (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 Proc. 2013-28 is obsolete except as provided in section 6 of this revenue procedure.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 Proc. 2013–27, 2013–24 I.R.B. 1243, is obsolete except as provided in §§ 3.01, 3.02, or 5.01 of this revenue procedure.

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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.

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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.

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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) 
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)  
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) 
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.

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2010

Rev. Proc. 2010-25 (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. 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) 
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.

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2009

Rev. Proc. 2009-27 (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 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) 
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.

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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)
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)
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)
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.

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2007

Rev. Proc. 2007-66 (Inflation Adjusted Items for 2008)
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)
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)
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)
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,&quotState&quot includes the District of Columbia and the possessions of the United States.

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2006

Rev. Proc. 2006-40 (Administrative Appeal of Proposed Adverse Determination of Tax-Exempt Status of Bond Issue)
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)
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).

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2005

Rev. Proc. 2005-40 (Late Filing 8038-T)
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)
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)
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)
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.

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2004

Rev. Proc. 2004-72 (QZABS)
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)
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)
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)).

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2003

Rev. Proc. 2003-46 2003-28 I.R.B. 54 (07/14/2003) (Correction of certain forms 8328)
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 &quotallocating authority&quot). 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
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.

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2002

Rev. Proc. 2002-72, 2002-49 I.R.B. 931
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
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
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
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
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.

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2001

Rev. Proc. 2001-39, 2001-28 I.R.B. 38
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 , 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 / Rev. Proc. 96-16, 1996-3 I.R.B. 45
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.

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1999

Rev. Proc. 99-35, 1999-41 I.R.B. 301
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.

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1997

Rev. Proc. 97-22 (Recordkeeping - Electronic Storage System) 
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
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 (&quotVCAP&quot) in place. Please contact our Outreach, Planning and Review function for additional information.]

Rev. Proc. 97-13, 1997-5 I.R.B. 18 
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.

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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.

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1992

Rev. Proc. 92-83, 1990-2 C.B. 487
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 replaces the procedures of Rev. Proc. 92-83, which is currently under revision (see Announcement 2001-115).

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1990

Rev. Proc. 90-11, 1990-1 C.B. 469
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.

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1988

Rev. Proc. 88-10, 1988-1 C.B. 635
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.

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Page Last Reviewed or Updated: 30-Apr-2014