REVENUE RULE 95-34
1995-15 I.R.B. 19
Internal Revenue Service
Revenue Ruling
EXTENSIONS OF TIME FOR MAKING ELECTIONS; APPLICATIONS FOR RELIEF
Published: April 10, 1995
Section 7872. - Treatment of Loans with Below-Market Interest Rates, 26 CFR 301.9100-1: Extension of time for making elections.
Section 7805. - Rules and Regulations, 26 CFR 301.7805-1: Rules and regulations.
(See Also § 301.9100-1.)
Procedures are set forth for determining whether an extension of time for making an election will be granted.
The adjusted applicable federal short-term, mid-term, and long-term rates are set forth for the month of April 1995.
Extensions of time for making elections; applications for relief. Obsolete rulings that applied the factors set forth in Rev. Proc. 79-63, which were considered in granting relief under former section 1.9100-1 of the regulations, are listed.
The Internal Revenue Service is continuing its program of reviewing revenue rulings published in the Internal Revenue Bulletin to identify and publish lists of those revenue rulings that, although not specifically revoked or suspended, are no longer considered determinative because (1) the applicable statutory provisions or regulations have been changed or repealed; (2) the ruling position is specifically covered by statute, regulation, or subsequently published position; or (3) the facts set forth no longer exist or are not sufficiently described to permit clear application of the current statute and regulations.
This revenue ruling publishes a list of revenue rulings that applied the factors set forth in Rev. Proc. 79-63, 1979-2 C.B. 578, that were considered in granting relief under former § 1.9100-1 of the Income Tax Regulations. Since Rev. Proc. 79-63 has been superseded by Rev. Proc. 92-85, 1992-2 C.B. 490, the factors set forth in Rev. Proc. 79-63 and the revenue rulings that applied those factors are no longer determinative. Accordingly, those revenue rulings that are listed below are hereby declared obsolete.
| Rev. Rul. No. C.B. Citation | Rev. Rul. No. C.B. Citation |
| Rev. Rul. 79-414 1979-2 C.B. 21 Rev. Rul. 79-415 1979-2 C.B. 22 Rev. Rul. 79-416 1979-2 C.B. 285 |
Rev. Rul. 79-417 1979-2 C.B. 202 Rev. Rul. 79-418 1979-2 C.B. 223 |
DRAFTING INFORMATION
The principal author of this revenue ruling is Barbara B. Walker of the Office of Assistant Chief Counsel (Passthroughs and Special Industries). For further information regarding this revenue ruling contact Ms. Walker on (202) 622-3040 (not a toll-free call).
Rev. Rul. 95-34, 1995-15 I.R.B. 19