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Internal Revenue Bulletin:  2009-21 

May 26, 2009 


Rev. Rul. 2009-13 Rev. Rul. 2009-13

Primary sale of life insurance contract; tax treatment of a sale or surrender. This ruling provides guidance to policyholders who surrender or sell their life insurance contracts.

Rev. Rul. 2009-14 Rev. Rul. 2009-14

Secondary sale of life insurance contract by investors. This ruling provides guidance to investors who purchase life insurance contracts.

Rev. Rul. 2009-15 Rev. Rul. 2009-15

Formless conversion of partnership to S corporation. This ruling explains that a partnership that converts to a corporation under either regulations section 301.7701-3(c)(1)(i) or under a state law formless conversion statute is allowed to make an S election effective for the corporation’s first taxable year.

Notice 2009-44 Notice 2009-44

This notice clarifies that, under regulations section 1.42-10 (the utility allowance regulations), utility costs paid by a tenant based on actual consumption in a sub-metered rent-restricted unit are treated as paid directly by the tenant for purposes of section 42(g)(2)(B)(ii) of the Code.

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