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.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.