IRS Releases New Salvage and Discount Patterns for 1999 Taxes

Salvage discount factors for 1999 accident year, used to compute discounted estimated salvage recoverable under Section 832 of the Internal Revenue Code, can be found in Revenue Procedure 99-37. This Procedure will appear in the Oct. 18 IRS Bulletin 1999-42.

Also for the 1999 accident year, Revenue Procedure 99-36 prescribes loss payment patterns and discount factors, used for computing discounted unpaid loses under Section 846 of the Internal Revenue Code. This Procedure is included in the Oct. 18 IRS Bulletin 1999-42.

Internal Revenue Bulletins are posted to the IRS Web site.

You may like these other stories...

Treasury prepares options to address tax inversionsDamian Paletta of the Wall Street Journal reported on Monday that US Treasury Department officials are assembling a list of administrative options for Treasury Secretary...
Deloitte CEO Joe Echevarria to retire to pursue public serviceMichael Rapoport of the Wall Street Journal reported that Deloitte LLP CEO Joe Echevarria plans to retire later this month to pursue his interest in public...
If your clients include retailers, pending federal legislation allowing states to tax Internet sales could mean big changes in the way they process and account for their sales and use taxes.In July, the Marketplace and...

Already a member? log in here.

Upcoming CPE Webinars

Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.
Aug 26
This webcast will include discussions of recently issued, commonly-applicable Accounting Standards Updates for non-public, non-governmental entities.
Aug 28
Excel spreadsheets are often akin to the American Wild West, where users can input anything they want into any worksheet cell. Excel's Data Validation feature allows you to restrict user inputs to selected choices, but there are many nuances to the feature that often trip users up.
Sep 9
In this session we'll discuss the types of technologies and their uses in a small accounting firm office.