This procedure contains revisions to Publication 1239, Specifications for Filing Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips, Electronically or Magnetically (revised 6-2005). Rev. Proc. 2000-49 superseded.

This procedure explains how a taxpayer may elect not to treat qualified New York Liberty Zone leasehold improvement property as 5-year property for purposes of section 168. This procedure also excludes a certain change in computing depreciation from the automatic change in method of accounting procedure. Rev. Proc. 2002-9 modified and amplified.

This procedure obsoletes Rev. Procs. that describe the representations that a nonresident alien student, teacher, or researcher at a university must make to claim an exemption from withholding tax on personal services income under the provisions of specific U.S. income tax treaties. Rev. Procs. 87-8, 87-9, and 93-22 obsoleted.

This document contains a correction to T.D. 9206, 2005-25 I.R.B. 1283, which provides guidance for the filing of information returns by donees relating to qualified intellectual property contributions.