Internal Revenue Bulletin 2017-14 (PDF rendition): IRS Revenue Procedures

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HIGHLIGHTS
OF THIS ISSUE
These synopses are intended only as aids to the reader in
identifying the subject matter covered. They may not be
relied upon as authoritative interpretations.
INCOME TAX
Rev. Rul. 2017–08, page 1037.
Federal rates; adjusted federal rates; adjusted federal long-
term rate and the long-term exempt rate. For purposes of
sections 382, 642, 1274, 1288, 7872, and other sections of
the Code, tables set forth the rates for April 2017.
Rev. Proc. 2017–29, page 1065.
This revenue procedure provides the tables of depreciation
deduction limitations and lessee inclusion amounts for passen-
ger automobiles (including trucks and vans) first placed in
service or first leased during calendar year 2017.
EMPLOYMENT TAX
Rev. Proc. 2017–28, page 1061.
This revenue procedure provide guidance to employers on the
requirements for employee consent used by an employer to
support a claim for refund of overpaid taxes under the Federal
Insurance Contributions Act (FICA) and the Railroad Retirement
Tax Act (RRTA). It clarifies the basic requirements for both a
request for employee consent and for the employee consent
and permits employee consent to be requested, furnished, and
retained in an electronic format. It also contains guidance
concerning what constitutes “reasonable efforts” if employee
consent is not secured in order to permit the employer to claim
a refund of the employer share of overpaid FICA or RRTA taxes.
ADMINISTRATIVE
Rev. Proc. 2017–25, page 1039.
This revenue procedure formally establishes the Small Busi-
ness/Self Employed Fast Track Settlement program (SB/SE
FTS) to provide an expedited format for resolving disputes with
Small Business/Self Employed (SB/SE) taxpayers. SB/SE tax-
payers that currently have unagreed factual or legal issues in at
least one open year under examination can work together with
SB/SE and the Office of Appeals to resolve outstanding dis-
puted issues while the case is still in SB/SE jurisdiction. This
revenue procedure modifies and supersedes Announcement
2011–5, 2011–4 I.R.B. 430.
Rev. Proc. 2017–27, page 1042.
This procedure provides issuers of qualified mortgage bonds
(QMBs) and qualified mortgage certificates (MCCs) with aver-
age area purchase price safe harbors for statistical areas in
the United States and with a nationwide average purchase
price for residences in the United States for purposes of QMB
rules under section 143 of the Code and the MCC rules under
section 25.
Rev. Proc. 2017–29, page 1065.
This revenue procedure updates for 2017 tax years the annu-
ally published depreciation and inclusion tables for owners and
lessees, respectively, of passenger vehicles, trucks, and vans.
Finding Lists begin on page ii.
Bulletin No. 2017–14
April 3, 2017

The IRS Mission
Provide America’s taxpayers top-quality service by helping
them understand and meet their tax responsibilities and en-
force the law with integrity and fairness to all.
Introduction
The Internal Revenue Bulletin is the authoritative instrument of
the Commissioner of Internal Revenue for announcing official
rulings and procedures of the Internal Revenue Service and for
publishing Treasury Decisions, Executive Orders, Tax Conven-
tions, legislation, court decisions, and other items of general
interest. It is published weekly.
It is the policy of the Service to publish in the Bulletin all
substantive rulings necessary to promote a uniform application
of the tax laws, including all rulings that supersede, revoke,
modify, or amend any of those previously published in the
Bulletin. All published rulings apply retroactively unless other-
wise indicated. Procedures relating solely to matters of internal
management are not published; however, statements of inter-
nal practices and procedures that affect the rights and duties
of taxpayers are published.
Revenue rulings represent the conclusions of the Service on
the application of the law to the pivotal facts stated in the
revenue ruling. In those based on positions taken in rulings to
taxpayers or technical advice to Service field offices, identify-
ing details and information of a confidential nature are deleted
to prevent unwarranted invasions of privacy and to comply with
statutory requirements.
Rulings and procedures reported in the Bulletin do not have the
force and effect of Treasury Department Regulations, but they
may be used as precedents. Unpublished rulings will not be
relied on, used, or cited as precedents by Service personnel in
the disposition of other cases. In applying published rulings and
procedures, the effect of subsequent legislation, regulations,
court decisions, rulings, and procedures must be considered,
and Service personnel and others concerned are cautioned
against reaching the same conclusions in other cases unless
the facts and circumstances are substantially the same.
The Bulletin is divided into four parts as follows:
Part I.—1986 Code.
This part includes rulings and decisions based on provisions of
the Internal Revenue Code of 1986.
Part II.—Treaties and Tax Legislation.
This part is divided into two subparts as follows: Subpart A, Tax
Conventions and Other Related Items, and Subpart B, Legisla-
tion and Related Committee Reports.
Part III.—Administrative, Procedural, and Miscellaneous.
To the extent practicable, pertinent cross references to these
subjects are contained in the other Parts and Subparts. Also
included in this part are Bank Secrecy Act Administrative Rul-
ings. Bank Secrecy Act Administrative Rulings are issued by
the Department of the Treasury’s Office of the Assistant Sec-
retary (Enforcement).
Part IV.—Items of General Interest.
This part includes notices of proposed rulemakings, disbar-
ment and suspension lists, and announcements.
The last Bulletin for each month includes a cumulative index for
the matters published during the preceding months. These
monthly indexes are cumulated on a semiannual basis, and are
published in the last Bulletin of each semiannual period.
The contents of this publication are not copyrighted and may be reprinted freely. A citation of the Internal Revenue Bulletin as the source would be appropriate.
April 3, 2017Bulletin No. 2017–14

Part I. Rulings and Decisions Under the Internal Revenue Code
of 1986
Section 1274.—Determination of Issue Price in
the Case of Certain Debt Instruments Issued for
Property
(Also Sections 42, 280G, 382, 467, 468, 482, 483,
642, 1288, 7520, 7872.)
Rev. Rul. 2017–08
This revenue ruling provides various pre-
scribed rates for federal income tax pur-
poses for April 2017 (the current month).
Table 1 contains the short-term, mid-term, and
long-term applicable federal rates (AFR) for
the current month for purposes ofsection
1274(d) of the Internal Revenue Code. Ta-
ble 2 contains the short-term, mid-term, and
long-term adjusted applicable federal rates
(adjusted AFR) for the current month for
purposes of section 1288(b). Table 3 sets
forth the adjusted federal long-term rate and
the long-term tax-exempt rate described in
section 382(f). Table 4 contains the appro-
priate percentages for determining the low-
income housing credit described in section
42(b)(1) for buildings placed in service dur-
ing the current month. However, under sec-
tion 42(b)(2), the applicable percentage for
non-federally subsidized new buildings placed
in service after July 30, 2008, shall not be less
than 9%. Finally, Table 5 contains the federal
rate for determining thepresent value of an
annuity, an interest for life or for a term of
years, or a remainder or a reversionary in-
terest for purposes of section 7520.
REV. RUL. 2017–08 TABLE 1
Applicable Federal Rates (AFR) for April 2017
Period for Compounding
AnnualSemiannualQuarterlyMonthly
Short-term
AFR1.11%1.11%1.11%1.11%
110% AFR1.22%1.22%1.22%1.22%
120% AFR1.33%1.33%1.33%1.33%
130% AFR1.45%1.44%1.44%1.44%
Mid-term
AFR2.12%2.11%2.10%2.10%
110% AFR2.33%2.32%2.31%2.31%
120% AFR2.55%2.53%2.52%2.52%
130% AFR2.76%2.74%2.73%2.72%
150% AFR3.20%3.17%3.16%3.15%
175% AFR3.72%3.69%3.67%3.66%
Long-term
AFR2.82%2.80%2.79%2.78%
110% AFR3.10%3.08%3.07%3.06%
120% AFR3.39%3.36%3.35%3.34%
130% AFR3.67%3.64%3.62%3.61%
REV. RUL. 2017–08 TABLE 2
Adjusted AFR for April 2017
Period for Compounding
AnnualSemiannualQuarterlyMonthly
Short-term adjusted AFR.83%.83%.83%.83%
Mid-term adjusted AFR1.58%1.57%1.57%1.56%
Long-term adjusted AFR2.09%2.08%2.07%2.07%
Bulletin No. 2017–14April 3, 2017
1037

REV. RUL. 2017–08 TABLE 3
Rates Under Section 382 for April 2017
Adjusted federal long-term rate for the current month2.09%
Long-term tax-exempt rate for ownership changes during the current month (the highest of the adjusted federal
long-term rates for the current month and the prior two months.)
2.09%
REV. RUL. 2017–08 TABLE 4
Appropriate Percentages Under Section 42(b)(1) for April 2017
Note: Under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after
July 30, 2008, shall not be less than 9%.
Appropriate percentage for the 70% present value low-income housing credit7.57%
Appropriate percentage for the 30% present value low-income housing credit3.24%
REV. RUL. 2017–08 TABLE 5
Rate Under Section 7520 for April 2017
Applicable federal rate for determining the present value of an annuity, an interest for life or a term of years, or a
remainder or reversionary interest
2.6%
Section 42.—Low-Income
Housing Credit
The applicable federal short-term, mid-term, and
long-term rates are set forth for the month of April
2017. See Rev. Rul. 2017-08, page 1037.
Section 280G.—Golden
Parachute Payments
Federal short-term, mid-term, and long-term
rates are set forth for the month of April 2017. See
Rev. Rul. 2017-08, page 1037.
Section 382.—Limitation
on Net Operating Loss
Carryforwards and Certain
Built-In Losses Following
Ownership Change
The adjusted applicable federal long-term rate is
set forth for the month of April 2017. See Rev. Rul.
2017-08, page 1037.
Section 467.—Certain
Payments for the Use of
Property or Services
The applicable federal short-term, mid-term, and
long-term rates are set forth for the month of April
2017. See Rev. Rul. 2017-08, page 1037.
Section 468.—Special
Rules for Mining and Solid
Waste Reclamation and
Closing Costs
The applicable federal short-term, mid-term, and
long-term rates are set forth for the month of April
2017. See Rev. Rul. 2017-08, page 1037.
Section 482.—Allocation of
Income and Deductions
Among Taxpayers
Federal short-term, mid-term, and long-term
rates are set forth for the month of April 2017. See
Rev. Rul. 2017-08, page 1037.
Section 483.—Interest on
Certain Deferred Payments
The applicable federal short-term, mid-term, and
long-term rates are set forth for the month of April
2017. See Rev. Rul. 2017-08, page 1037.
Section 642.—Special
Rules for Credits and
Deductions
Federal short-term, mid-term, and long-term
rates are set forth for the month of April 2017. See
Rev. Rul. 2017-08, page 1037.
Section 1288.—Treatment
of Original Issue Discount
on Tax-Exempt Obligations
The adjusted applicable federal short-term, mid-
term, and long-term rates are set forth for the month
of April 2017. See Rev. Rul. 2017-08, page 1037.
Section 7520.—Valuation
Tables
The applicable federal short-term, mid-term, and
long-term rates are set forth for the month of April
2017. See Rev. Rul. 2017-08, page 1037.
Section 7872.—Treatment
of Loans With Below-
Market Interest Rates
The applicable federal short-term, mid-term, and
long-term rates are set forth for the month of April
2017. See Rev. Rul. 2017-08, page 1037.
April 3, 2017Bulletin No. 2017–14
1038

Part III. Administrative, Procedural, and Miscellaneous
26 CFR § 601.106: Appeals functions.
(Also: 601.105.)
Rev. Proc. 2017–25
SECTION 1. PURPOSE
This revenue procedure formally estab-
lishes the Small Business/Self Employed
Fast Track Settlement program (SB/SE
FTS) to provide an expedited format for
resolving disputes with SB/SE taxpayers.
Announcement 2011–5, 2011– 4 I.R.B.
430, is modified and superseded.
SECTION 2. BACKGROUND
01. Revenue Procedure 2003– 40,
2003–1 C.B. 1044, implemented a fast
track settlement program for taxpayers in
the Large and Mid-Sized Business Divi-
sion (now the Large Business and Inter-
national Division). In Announcement
2006 – 61, 2006 –36 I.R.B. 390, the Inter-
nal Revenue Service (IRS) implemented a
pilot program for fast track settlement for
SB/SE taxpayers, relying on the provisions
set forth in Rev. Proc. 2003– 40. Announce-
ment 2008 –110, 2008 – 48 I.R.B. 1224, and
Announcement 2011–5, 2011– 4 I.R.B. 430,
extended this pilot program and News Re-
lease IR–2013– 88 announced the nation-
wide rollout of fast track settlement for
SB/SE taxpayers.
02. SB/SE and Appeals jointly admin-
ister SB/SE FTS. SB/SE FTS is available
to expedite case resolution at the earliest
opportunity within the SB/SE Field and
Specialty Examination functions.See
IRM 1.1.16.3.1,Examination-Field Ar-
eas, and IRM 1.1.16.3.3,Specialty-
Examination. SB/SE taxpayers that cur-
rently have unagreed issues in at least one
open year under examination can work
together with SB/SE and Appeals to re-
solve outstanding disputed issues while
the case is still in SB/SE jurisdiction and
preserve the taxpayer’s ability to request
an Appeals hearing. SB/SE FTS can be
used to resolve both factual and legal is-
sues, and may be initiated at any time after
an issue is fully developed. An issue can-
not be fully developed prior to the receipt
of all necessary referrals, technical advice,
Counsel advice, valuation reports, or other
relevant documentation. It is a goal of
SB/SE FTS that the entire process be
completed within 60 days after acceptance
into the program.
SECTION 3. SIGNIFICANT
CHANGES TO ANNOUNCEMENT
2011–5
01. SB/SE FTS is now available to
taxpayers nationwide.SeeNews Release
IR–2013– 88.
02. SB/SE FTS is no longer available
for cases under the jurisdiction of the Tax
Exempt and Government Entities (TE/
GE) Division as a result of the establish-
ment of a permanent, separate fast track
settlement program for TE/GE taxpayers.
SeeAnnouncement 2012–34, 2012–36
I.R.B. 334,Fast Track Settlement for
TE/GE Taxpayers.
03. Section 4.01(3) modifies the case
eligibility criteria by requiring that the
issues remain unresolved after the in-
volvement of the Group Manager.
04. Section 4.02 modifies the criteria
for cases excluded from SB/SE FTS by:
(1) Providing in section 4.02(1) that
SB/SE FTS is generally not avail-
able for cases in which SB/SE FTS
is not appropriate under either 5
U.S.C. § 572 or 5 U.S.C. § 575.
(2) Adding a good faith requirement in
section 4.02(2) that incorporates the
failure to respond or provide docu-
mentation provision in Announce-
ment 2011–5.
(3) Removing the reference to issues
under consideration for designation
for litigation and, in section 4.02(7),
providing that SB/SE FTS is not
available for issues docketed in any
court.
(4) Providing in section 4.02(8) that
SB/SE FTS is not available for is-
sues precluded from settlement by
previous closing agreements, res
judicata, or controlling Supreme
Court precedent.
(5) Providing in section 4.02(9) that
SB/SE FTS is not available for is-
sues for which SB/SE FTS would
not be in the interest of sound tax
administration.
(6) In section 4.02(12), updating the
provision relating to issues for
which the taxpayer has submitted a
request for competent authority as-
sistance.
(7) Clarifying in section 4.02(11) that
“whipsaw” issues include issues on
a joint return where both spouses do
not agree to participate in the same
FTS Session or where a spouse is
claiming innocent spouse treatment
under section 6015.
05. Consistent with Rev. Proc. 2014 –
63, 2014 –53 I.R.B. 1014, sections 6.06
and 6.07 indicate that taxpayers availing
themselves of SB/SE FTS are ineligible to
use post-appeals mediation for any issue
considered during the SB/SE FTS process
if the parties fail to resolve the issue or if
either party withdraws after the start of the
SB/SE FTS Session.
SECTION 4. CASE ELIGIBILITY
AND EXCLUSIONS
01. Subject to the limitations set forth
below, SB/SE FTS is available for cases
in SB/SE jurisdiction if:
(1) The case contains disputed factual
or legal issues;
(2) Issues are fully developed; and
(3) The issues remain unresolved after
the involvement of the Group
Manager.
02. SB/SE FTS is not available for:
(1) Cases in which SB/SE FTS is not
appropriate under either 5 U.S.C.
§ 572 or 5 U.S.C. § 575, which
provide the general authority and
guidelines for use of alternative dis-
pute resolution in the administrative
process;
(2) Cases in which the taxpayer did not
act in good faith during the audit
process, such as, but not limited to,
cases in which the taxpayer failed to
cooperate or unduly delayed the au-
dit process;
(3) Correspondence examination cases
worked solely in a Campus/Service
Center site;
(4) Partnership cases under the Tax Eq-
uity & Fiscal Responsibility Act
(TEFRA);
(5) Collection cases. Examples include,
but are not limited to, Collection
Bulletin No. 2017–14April 3, 2017
1039

Due Process, Collection Appeals
Program, Offer-In-Compromise and
Trust Fund Recovery Penalty cases;
(6) Issues designated for litigation;
(7) Issues docketed in any court;
(8) Issues precluded from settlement by
previous closing agreements, res
judicata, or controlling Supreme
Court precedent;
(9) Issues for which SB/SE FTS would
not be in the interest of sound tax
administration. For example, issues
common to issues in litigation for
which it is important that the IRS
maintain a consistent position, or
issues common to issues in litiga-
tion over which the Department of
Justice has jurisdiction;
(10)Frivolous issues, such as, but not
limited to, those identified in section
6.10 of Rev. Proc. 2016 –1, 2016 –1
I.R.B. 1, or the corresponding pro-
vision of any successor guidance;
(11) “Whipsaw” issues, or issues for
which resolution with respect to
one party might result in inconsis-
tent treatment in the absence of
participation of another party. Ex-
amples include, but are not limited
to, issues on a joint return where
both spouses do not agree to par-
ticipate in the same FTS Session
(seesection 6.02 of this revenue
procedure) or where one spouse is
claiming innocent spouse treat-
ment under section 6015;
(12) Issues for which the taxpayer has
submitted a request for competent
authority assistance.Seesection
6.03 of Rev. Proc. 2015– 40,
2015–35 I.R.B. 236, or the corre-
sponding provision of any succes-
sor guidance, which describes the
procedures of the U.S. competent
authority for coordination with
IRS examination proceedings. Un-
der section 6.03(3) of Rev. Proc.
2015– 40, the taxpayer’s access to
U.S. competent authority assis-
tance is generally not affected by
the taxpayer’s pursuit of alterna-
tive dispute resolution programs
under the jurisdiction of IRS Ex-
amination, including SB/SE FTS.
Taxpayers are cautioned that if
resolution of the taxpayer’s com-
petent authority issue (as defined
in Rev. Proc. 2015– 40) is reached
through the SB/SE FTS process,
the taxpayer’s access to U.S. com-
petent authority assistance will be
determined in accordance with
sections 6.03(1) and 6.03(2) of
Rev. Proc. 2015– 40. If a taxpayer
enters into a closing agreement
(including settlement through the
SB/SE FTS process) and then re-
quests competent authority assis-
tance, the U.S. competent author-
ity will endeavor only to obtain a
correlative adjustment from the
treaty country and will not take
any actions that would otherwise
change the settlement.Seesection
6.03(2) of Rev. Proc. 2015– 40. If
a taxpayer enters into SB/SE FTS,
the taxpayer generally may not re-
quest competent authority assis-
tance until the SB/SE FTS process
is complete. However, the tax-
payer may file a protective claim
with the competent authority in the
form of a competent authority re-
quest or a letter while SB/SE FTS
is pending if a protective claim is
necessary to keep open the period
of limitations in a foreign country.
Seesection 11.03 of Rev. Proc.
2015– 40. If the requirements of
this section 4.02(12) have been
satisfied and a protective claim has
been filed, the taxpayer must no-
tify the U.S. competent authority
that the case is in alternative dis-
pute resolution in SB/SE FTS. In
addition, the taxpayer must notify
the FTS Appeals Official (as de-
fined in section 6.01 of this reve-
nue procedure) that a protective
claim has been filed and that the
provisions of this section 4.02(12)
have been satisfied. The U.S. com-
petent authority will suspend ac-
tion on the case until SB/SE FTS
is completed;
(13)Issues outside SB/SE jurisdic-
tion; or
(14)Issues that have been otherwise
identified in subsequent guidance
issued by the IRS as excluded
from the SB/SE FTS process.
03. If any one issue is determined not
to be eligible for SB/SE FTS, no issues in
the case shall be eligible for SB/SE FTS.
SECTION 5. APPLICATION
PROCESS
01.In General.A taxpayer that is in-
terested in participating in SB/SE FTS, or
who has questions about the program and
its suitability for the taxpayer’s case,
should contact the SB/SE Examiner (Ex-
aminer) or SB/SE Group Manager (Group
Manager) for the year currently under ex-
amination. SB/SE FTS may not be the
appropriate dispute resolution process for
all cases involving SB/SE taxpayers.
02.Initiating SB/SE FTS.Either the
taxpayer, Examiner, or the Group Man-
ager can suggest participation, or initiate
the process to take part, in SB/SE FTS.
SB/SE FTS can be initiated at any time
after an issue is fully developed.
03.Application for SB/SE FTS and Ini-
tial Eligibility Determination by Group
Manager.Both parties must affirmatively
consent to participate in SB/SE FTS.
When the parties agree that SB/SE FTS is
appropriate, the taxpayer and the Exam-
iner must jointly complete and sign Form
14017,Application for Fast Track Settle-
ment, and prepare the Application Pack-
age, which must include the Form 14017,
properly documented work papers sup-
porting the Examiner’s position, and the
taxpayer’s written response. The Exam-
iner will submit the Application Package
to the Group Manager, who will deter-
mine if it is complete and whether the case
is eligible for SB/SE FTS. If the Group
Manger determines that the Application
Package is incomplete, or that the tax-
payer does not meet the eligibility require-
ments or otherwise does not qualify for
SB/SE FTS, the Group Manager will deny
the Application. The Group Manager will
forward an approved Application Package
to the local Appeals Team Manager.
04.Review by Appeals Team Manager.
Upon receipt of the Application Package,
the Appeals Team Manager will review
the documents, confirm the initial eligibil-
ity determination made by the Group
Manager, and make the decision whether
to accept the case into SB/SE FTS. If the
Appeals Team Manager determines that
the eligibility requirements are not met or
that the case is specifically excluded from
SB/SE FTS, the Appeals Team Manager
will deny the Application, inform SB/SE of
April 3, 2017Bulletin No. 2017–14
1040

the decision to deny the Application, and
return the Application Package to SB/SE.
05.Case Not Accepted for SB/SE FTS.
If the case is not accepted for inclusion in
SB/SE FTS, the SB/SE or Appeals repre-
sentative will inform the taxpayer of the
basis for this decision and discuss other
dispute resolution opportunities with the
taxpayer, including 30-day letter proce-
dures contained in IRS Publication 5,
Your Appeal Rights and How To Prepare
a Protest If You Don’t Agree. The deci-
sion not to accept a case into the SB/SE
FTS program is not subject to administra-
tive appeal or judicial review.
SECTION 6. SETTLEMENT
PROCESS
01.In General.SB/SE FTS employs
various alternative dispute resolution
techniques to promote case resolution. An
Appeals Officer trained in mediation (FTS
Appeals Official) will serve as a neutral
party, acting as a mediator and using dis-
pute resolution techniques to facilitate
agreement between the parties. The im-
partiality of the FTS Appeals Official and
the willingness of all parties to cooperate
are vital to the success of the SB/SE FTS
process.
02.FTS Session
(1) During SB/SE FTS, the taxpayer
and SB/SE representatives participate in a
conference (FTS Session) with the FTS
Appeals Official. The taxpayer and the
SB/SE representatives at the FTS Session
should include individuals with decision-
making authority and the information and
expertise necessary to assist the parties
and the FTS Appeals Official during the
settlement process. The FTS Appeals Of-
ficial may ask the parties to limit the num-
ber of participants at the FTS Session to
facilitate the process. A taxpayer is not
required to have a representative to par-
ticipate in SB/SE FTS. If the taxpayer is
represented by a person engaged in prac-
tice before the IRS, however, this individ-
ual must have a power of attorney (Form
2848,Power of Attorney and Declaration
of Representative) from the taxpayer.See
section 8.02(3) of this revenue procedure.
(2) The FTS Appeals Official will co-
ordinate the scheduling of the FTS Ses-
sion for a date and location agreed to by
both parties and the FTS Appeals Official.
All parties are encouraged to be flexible
when setting the meeting date and location.
(3) Prior to the FTS Session, the FTS
Appeals Official will advise the partici-
pants of the procedures and establish rules
for the FTS Session. The FTS Session
may include conferences attended by all
of the parties, or separate meetings with
each party, as determined appropriate in
the sole judgment of the FTS Appeals
Official.
03.Fast Track Session Report.The
FTS Appeals Official will prepare and use
a Form 14000,Fast Track Session Report,
(Session Report) to assist in planning the
FTS Session, to report on developments
during the session, and to record and fi-
nalize the disposition of issues. The Ses-
sion Report will include a list of all issues
to be considered during SB/SE FTS, a
description of the issues, and the amounts
in dispute.
04.New Information.Generally, the
FTS Appeals Official will consider only
those issues outlined in the Session Re-
port, except by mutual agreement of the
parties. If either party presents new infor-
mation during the FTS Session and the
parties agree that the process will not be
delayed beyond the goal of 60 days, the
SB/SE FTS process can and should con-
tinue. If the parties determine that the
process will be delayed beyond the goal of
60 days, the FTS Appeals Official will
consider either terminating the session or
postponing until both parties have had ad-
equate time to review and evaluate the
new information. If the FTS Session is
terminated, the case is removed from
SB/SE FTS and the taxpayer would have
to reapply to participate in SB/SE FTS.
05.Settlement
(1)In General.During the FTS Ses-
sion, the FTS Appeals Official has the
authority to offer settlement terms for any
or all issues and may consider settlement
terms proposed by either party.SeeDele-
gation Order 8 –9,Authority of Appeals to
Administer Alternative Dispute Resolution
Procedures. If the taxpayer accepts the
FTS Appeals Official’s settlement pro-
posal, but the Group Manager rejects it,
the SB/SE Territory Manager must review
the Group Manager’s rejection and either
concur in writing, or accept the settlement
proposal on behalf of SB/SE. If the SB/SE
Territory Manager concurs with the Group
Manager’s rejection of the settlement pro-
posal, and an acceptable alternative settle-
ment cannot be reached, the issue will be
closed as unagreed. At any time, SB/SE and
the taxpayer may agree to resolve the issues
independent of SB/SE FTS and close the
case on those terms.
(2)No Special Settlement Authority in
SB/SE FTS.SB/SE FTS creates no special
authority for settlement by the FTS Ap-
peals Official. Any recommended settle-
ment by the FTS Appeals Official of an
issue in SB/SE FTS shall be subject to the
procedures that would be applicable if the
issue were being considered by Appeals,
including procedures in the Internal Rev-
enue Manual and existing published guid-
ance. For example, if the SB/SE FTS issue
is coordinated in either the Technical Ad-
visor Program or the Appeals Technical
Guidance program, the proposed settle-
ment of that issue is subject to established
procedures, including submission of the
proposed settlement to the Appeals Coor-
dinator for review and concurrence.
(3)Resolution of Disputed Issues.If
the parties resolve any of the disputed
issues by the conclusion of the FTS Ses-
sion, the parties and the FTS Appeals Of-
ficial shall sign the Session Report ac-
knowledging acceptance of the terms of
settlement. Although the signature of the
parties on the Session Report does not
constitute a final settlement and is not
binding on either party, the signed Session
Report represents the parties’ good faith
intention to settle the issues addressed in
the Session Report in accordance with the
terms of the agreed upon settlement. The
signed Session Report does not waive re-
strictions on assessment, terminate con-
sents to extend periods of limitation, start
the running of any periods of limitation, or
constitute agreement to close the case.
Issues settled through the SB/SE FTS pro-
cess shall be closed out in accordance
with section 7 of this revenue procedure.
06.Failure to Resolve Disputed Issues.
If the parties fail to resolve any issue in
SB/SE FTS, the taxpayer may request that
the issue be heard through the traditional
Appeals process. Post-appeals mediation,
however, is not available for any issue con-
sidered during the SB/SE FTS process.See
section 4.04(9) of Rev. Proc. 2014 – 63 and
section 6.07 of this revenue procedure.
Bulletin No. 2017–14April 3, 2017
1041

07.Withdrawal.Except as specifically
provided above, either party may with-
draw from the process at any time before
reaching a settlement of any issue under
consideration by notifying the other party
and the FTS Appeals Official. Withdrawal
with respect to any one issue under con-
sideration has the effect of withdrawing
all issues under consideration at the time
of withdrawal. If either party withdraws
from SB/SE FTS prior to the start of the
FTS Session, the taxpayer will not be
treated as having participated in SB/SE
FTS for purposes of determining eligibil-
ity for post-appeals mediation.Seesection
4.04(9) of Rev. Proc. 2014 – 63 and sec-
tion 6.06 of this revenue procedure.
SECTION 7. COMPLETING THE
SB/SE FTS PROCESS
01. If the parties reach a basis of set-
tlement for any issue through the SB/SE
FTS process, the SB/SE representative or
FTS Appeals Official will use established
issue or case closing procedures and ap-
plicable agreement forms, including prep-
aration of a Form 906,Closing Agreement
on Final Determination Covering Specific
Tax Matters, if appropriate.
02. If applicable, the IRS will report a
proposed resolution reached as a result of
SB/SE FTS (as reflected in a signed FTS
Session Report) to the Joint Committee on
Taxation in accordance with section 6405.
The taxpayer acknowledges that the IRS
reserves the right to reconsider an SB/SE
FTS proposed settlement upon receipt of
comments on the proposed settlement
from the Joint Committee on Taxation. If
the taxpayer and the IRS do not reach
agreement with respect to any changes by
the IRS upon reconsideration, SB/SE will
close the case unagreed and the taxpayer
will retain the usual rights to request
Appeals consideration of any unagreed
issues.
SECTION 8. GENERAL
PROVISIONS
01.Ex Parte Communications
(1)In General.The prohibition against
ex partecommunications between Ap-
peals employees and other IRS employees
provided by section 1001(a) of the Inter-
nal Revenue Service Restructuring and
Reform Act of 1998, Pub. L. No. 105–
206, 112 Stat. 685, does not apply to the
communications taking place as part of
the SB/SE FTS process because the Ap-
peals employees are not acting in their
traditional Appeals settlement role.See
Rev. Proc. 2012–18, 2012–10 I.R.B. 455.
(2)Cases returned for traditional Ap-
peals consideration.For SB/SE FTS cases
that are returned for traditional Appeals
consideration for any reason, generalex
parterestrictions apply, however,ex parte
restrictions will not be imposed on intra-
Appeals communications. Appeals man-
agement will take appropriate measures to
ensure these cases are handled impartially.
02.Confidentiality and Disclosure
(1)In general.The SB/SE FTS process
is confidential and all information and
communications made during the SB/SE
FTS process (both oral and written) are
both taxpayer return information and dis-
pute resolution communications subject to
restrictions on disclosure.Seesection
6103 and 5 U.S.C. §§ 571(5) and 574.
Therefore, no information or communica-
tions made during the SB/SE FTS process
may be disclosed by any party, partici-
pant, or observer except as provided by
statute, including sections 6103 and
7214(a)(8) and 5 U.S.C. § 574.
(2)Employees.IRS employees who
participate in or observe the SB/SE FTS
process in any way, and any person under
contract to the IRS pursuant to section
6103(n) who participates in or observes
the SB/SE FTS process, will be subject to
the confidentiality and disclosure provi-
sions of the Internal Revenue Code, in-
cluding sections 6103, 7213, and 7431
and 5 U.S.C. § 574.
(3)Taxpayer consent.To participate in
SB/SE FTS, the taxpayer must consent
under section 6103(c) to the disclosure by
the IRS of the taxpayer’s returns and re-
turn information incident to SB/SE FTS to
any participant identified in the initial list
of participants and to any participants sub-
sequently identified in writing by the par-
ties. The consent to disclose and the list of
participants must be set forth on the Form
14017. If the Form 14017 is signed by a
person pursuant to a power of attorney
executed by the taxpayer, that power of
attorney must clearly express the taxpay-
er’s grant of authority to the representa-
tive to sign the Form 14017 and to consent
to the disclosure of the taxpayer’s returns
and return information by the IRS to third
parties. The presence of any observer for
the taxpayer or the government may re-
quire the taxpayer (or the taxpayer’s rep-
resentative) to sign a separate disclosure
consent form.
03.Use as precedent.Any final agree-
ment, case closing or closing agreement
based on a settlement reached by the par-
ties through the SB/SE FTS process will
not be binding on the parties for taxable
years or issues not covered by the SB/SE
FTS agreement, unless such taxable years
or issues are expressly addressed in a for-
mal closing agreement. Except as ex-
pressly provided in the SB/SE FTS agree-
ment or in a formal closing agreement, no
party may use the settlement as precedent.
SECTION 9. EFFECT ON OTHER
DOCUMENTS
Announcement 2011–5, 2011– 4 I.R.B.
430, is modified and superseded.
SECTION 10. EFFECTIVE DATE
This revenue procedure is effective
March 20, 2017, the date this revenue
procedure was released.
SECTION 11. DRAFTING
INFORMATION AND FURTHER
INFORMATION
The principal author of this revenue
procedure is Mark A. Bond of the Office
of the Associate Chief Counsel (Proce-
dure & Administration). For further infor-
mation regarding this revenue procedure
contact Mr. Bond at (202) 317-6844 (not a
toll-free number).
26 CFR 6a.103A–2: Qualified mortgage bond
Rev. Proc. 2017–27
SECTION 1. PURPOSE
This revenue procedure provides issu-
ers of qualified mortgage bonds, as de-
fined in section 143(a) of the Internal
Revenue Code (Code), and issuers of
mortgage credit certificates, as defined in
section 25(c), with (1) the nationwide av-
erage purchase price for residences lo-
cated in the United States, and (2) average
area purchase price safe harbors for res-
idences located in statistical areas in
April 3, 2017Bulletin No. 2017–14
1042

each state, the District of Columbia,
Puerto Rico, the Northern Mariana Is-
lands, American Samoa, the Virgin Is-
lands, and Guam.
SECTION 2. BACKGROUND
.01 Section 103(a) provides that, ex-
cept as provided in section 103(b), gross
income does not include interest on any
state or local bond. Section 103(b)(1) pro-
vides that section 103(a) shall not apply to
any private activity bond that is not a
“qualified bond” within the meaning of
section 141. Section 141(e) provides, in
part, that the term “qualified bond” means
any private activity bond if such bond (1)
is a qualified mortgage bond under section
143, (2) meets the volume cap require-
ments under section 146, and (3) meets
the applicable requirements under section
147.
.02 Section 143(a)(1) provides that the
term “qualified mortgage bond” means a
bond that is issued as part of a qualified
mortgage issue. Section 143(a)(2)(A) pro-
vides that the term “qualified mortgage
issue” means an issue of one or more
bonds by a state or political subdivision
thereof, but only if: (i) all proceeds of the
issue (exclusive of issuance costs and a
reasonably required reserve) are to be
used to finance owner-occupied residenc-
es; (ii) the issue meets the requirements of
subsections (c), (d), (e), (f), (g), (h), (i),
and (m)(7) of section 143; (iii) the issue
does not meet the private business tests of
paragraphs (1) and (2) of section 141(b);
and (iv) with respect to amounts received
more than 10 years after the date of issu-
ance, repayments of $250,000 or more of
principal on mortgage financing provided
by the issue are used by the close of the
first semiannual period beginning after the
date the prepayment (or complete repay-
ment) is received to redeem bonds that are
part of the issue.
Average Area Purchase Price
.03 Section 143(e)(1) provides that an
issue of bonds meets the purchase price
requirements of section 143(e) if the ac-
quisition cost of each residence financed
by the issue does not exceed 90 percent of
the average area purchase price applicable
to such residence. Section 143(e)(5) pro-
vides that, in the case of a targeted area
residence (as defined in section 143(j)),
section 143(e)(1) shall be applied by sub-
stituting 110 percent for 90 percent.
.04 Section 143(e)(2) provides that
the term “average area purchase price”
means, with respect to any residence, the
average purchase price of single-family
residences (in the statistical area in which
the residence is located) that were pur-
chased during the most recent 12-month
period for which sufficient statistical in-
formation is available. Under sections
143(e)(3) and (4), respectively, separate
determinations are to be made for new and
existing residences, and for two-, three-,
and four-family residences.
.05 Section 143(e)(2) provides that the
determination of the average area pur-
chase price for a statistical area shall be
made as of the date on which the commit-
ment to provide the financing is made or,
if earlier, the date of the purchase of the
residence.
.06 Section 143(k)(2)(A) provides that
the term “statistical area” means (i) a met-
ropolitan statistical area (MSA), and (ii)
any county (or the portion thereof) that is
not within an MSA. Section 143(k)(2)(C)
further provides that if sufficient recent
statistical information with respect to a
county (or portion thereof) is unavailable,
the Secretary may substitute another area
for which there is sufficient recent statis-
tical information for such county (or por-
tion thereof). In the case of any portion of
a State which is not within a county, sec-
tion 143(k)(2)(D) provides that the Secre-
tary may designate as a county any area
that is the equivalent of a county. Section
6a.103A–1(b)(4)(i) of the Temporary In-
come Tax Regulations (issued under sec-
tion 103A of the Internal Revenue Code
of 1954, the predecessor of section 143 of
the Code) provides that the term “State”
includes a possession of the United States
and the District of Columbia.
.07 Section 6a.103A–2(f)(5)(i) pro-
vides that an issuer may rely upon the
average area purchase price safe harbors
published by the Department of the Trea-
sury (Treasury Department) for the statis-
tical area in which a residence is located.
Section 6a.103A–2(f)(5)(i) further pro-
vides that an issuer may use an average
area purchase price limitation different
from the published safe harbor if the is-
suer has more accurate and comprehen-
sive data for the statistical area.
Qualified Mortgage Credit Certificate
Program
.08 Section 25(c) permits a state or
political subdivision to establish a quali-
fied mortgage credit certificate program.
In general, a qualified mortgage credit cer-
tificate program is a program under which
the issuing authority elects not to issue an
amount of private activity bonds that it
may otherwise issue during the calendar
year under section 146, and in their
place, issues mortgage credit certificates
to taxpayers in connection with the ac-
quisition of their principal residences.
Section25(a)(1) provides, in general, that
the holder of a mortgage credit certificate
may claim a federal income tax credit
equal to the product of the credit rate
specified in the certificate and the interest
paid or accrued during the tax year on the
remaining principal of the indebtedness
incurred to acquire the residence. Section
25(c)(2)(A)(iii)(III) generally provides that
residences acquired in connection with the
issuance of mortgage credit certificates must
meet the purchase price requirements of sec-
tion 143(e).
Income Limitations for Qualified
Mortgage Bonds and Mortgage Credit
Certificates
.09 Section 143(f) imposes limitations
on the income of mortgagors for whom
financing may be provided by qualified
mortgage bonds. In addition, section
25(c)(2)(A)(iii)(IV) provides that holders
of mortgage credit certificates must meet
the income requirement of section 143(f).
Generally, under sections 143(f)(1) and
25(c)(2)(A)(iii)(IV), the income require-
ment is met only if all owner-financing
under a qualified mortgage bond and all
mortgage credit certificates issued under a
qualified mortgage credit certificate pro-
gram are provided to mortgagors whose
family income is 115 percent or less of the
applicable median family income. Section
143(f)(5), however, generally provides for
an upward adjustment to the percentage
limitation in high housing cost areas. High
housing cost areas are defined in section
143(f)(5)(C) as any statistical area for
Bulletin No. 2017–14April 3, 2017
1043

which the housing cost/income ratio is
greater than 1.2.
.10 Under section 143(f)(5)(D), the
housing cost/income ratio with respect to
any statistical area is determined by divid-
ing (a) the applicable housing price ratio
for such area by (b) the ratio that the area
median gross income for such area bears
to the median gross income for the United
States. The applicable housing price ratio
is the new housing price ratio (new hous-
ing average area purchase price divided
by the new housing average purchase
price for the United States) or the existing
housing price ratio (existing housing av-
erage area purchase price divided by the
existing housing average purchase price
for the United States), whichever results
in the housing cost/income ratio being
closer to 1.
Average Area and Nationwide Purchase
Price Limitations
.11 Average area purchase price safe
harbors for each state, the District of Co-
lumbia, Puerto Rico, the Northern Mari-
ana Islands, American Samoa, the Virgin
Islands, and Guam were last published in
Rev. Proc. 2016 –25, 2016 –18 I.R.B. 678.
.12 The nationwide average purchase
price limitation was last published in sec-
tion 4.02 of Rev. Proc. 2016 –25. Guid-
ance with respect to the United States and
area median gross income figures that are
to be used in computing the housing cost/
income ratio described in section 143(f)(5)
was last published in Rev. Proc. 2016 –26,
2016 –22 I.R.B. 1018.
.13 This revenue procedure uses FHA
loan limits for a given statistical area to
calculate the average area purchase price
safe harbor for that area. FHA sets limits
on the dollar value of loans it will insure
based on median home prices and con-
forming loan limits established by the
Federal Home Loan Mortgage Corpora-
tion. In particular, FHA sets an area’s loan
limit at 95 percent of the median home
sales price for the area, subject to certain
floors and caps measured against con-
forming loan limits.
.14 To calculate the average area pur-
chase price safe harbors in this revenue
procedure, the FHA loan limits are ad-
justed to take into account the differences
between average and median purchase
prices. Because FHA loan limits do not
differentiate between new and existing
residences, this revenue procedure con-
tains a single average area purchase price
safe harbor for both new and existing res-
idences in a statistical area. The Treasury
Department and the Internal Revenue Ser-
vice (IRS) have determined that FHA loan
limits provide a reasonable basis for de-
termining average area purchase price
safe harbors. If the Treasury Department
and the IRS become aware of other sources
of average purchase price data, including
data that differentiate between new and ex-
isting residences, consideration will be
given as to whether such data provide a
more accurate method for calculating aver-
age area purchase price safe harbors.
.15 The average area purchase price
safe harbors listed in section 4.01 of this
revenue procedure are based on FHA loan
limits released December 1, 2016. FHA
loan limits are available for statistical ar-
eas in each state, the District of Columbia,
Puerto Rico, the Northern Mariana Islands,
American Samoa, the Virgin Islands, and
Guam. See section 3.03 of this revenue pro-
cedure with respect to FHA loan limits re-
vised after December 1, 2016.
.16 OMB Bulletin No. 03– 04, dated
and effective June 6, 2003, revised the
definitions of the nation’s metropolitan ar-
eas and recognized 49 new metropolitan
statistical areas. The OMB bulletin no lon-
ger includes primary metropolitan statisti-
cal areas.
SECTION 3. APPLICATION
Average Area Purchase Price Safe
Harbors
.01 Average area purchase price safe
harbors for statistical areas in each state,
the District of Columbia, Puerto Rico, the
Northern Mariana Islands, American Sa-
moa, the Virgin Islands, and Guam are set
forth in section 4.01 of this revenue pro-
cedure. Average area purchase price safe
harbors are provided for single-family and
two to four-family residences. For each
type of residence, section 4.01 of this rev-
enue procedure contains a single safe har-
bor that may be used for both new and
existing residences. Issuers of qualified
mortgage bonds and issuers of mortgage
credit certificates may rely on these safe
harbors to satisfy the requirements of sec-
tions 143(e) and (f). Section 4.01 of this
revenue procedure provides safe harbors
for MSAs and for certain counties and
county equivalents. If no purchase price safe
harbor is available for a statistical area, the
safe harbor for “ALL OTHER AREAS”
may be used for that statistical area.
.02 If a residence is in an MSA, the safe
harbor applicable to it is the limitation of
that MSA. If an MSA falls in more than one
state, the MSA is listed in section 4.01 of
this revenue procedure under each state.
.03 If the FHA revises the FHA loan
limit for any statistical area after Decem-
ber 1, 2016, an issuer of qualified mort-
gage bonds or mortgage credit certificates
may use the revised FHA loan limit for
that statistical area to compute (as pro-
vided in the next sentence) a revised av-
erage area purchase price safe harbor for
the statistical area provided that the issuer
maintains records evidencing the revised
FHA loan limit. The revised average area
purchase price safe harbor for that statis-
tical area is computed by dividing the
revised FHA loan limit by .9775.
.04 If, pursuant to section 6a.103A–
2(f)(5)(i), an issuer uses more accurate
and comprehensive data to determine the
average area purchase price for a statisti-
cal area, the issuer must make separate
average area purchase price determina-
tions for new and existing residences.
Moreover, when computing the average
area purchase price for a statistical area
that is an MSA, as defined in OMB Bul-
letin No. 03– 04, the issuer must make the
computation for the entire applicable
MSA. When computing the average area
purchase price for a statistical area that is
not an MSA, the issuer must make the
computation for the entire statistical area
and may not combine statistical areas.
Thus, for example, the issuer may not
combine two or more counties.
.05 If an issuer receives a ruling per-
mitting it to rely on an average area pur-
chase price limitation that is higher than
the applicable safe harbor in this revenue
procedure, the issuer may rely on that
higher limitation for the purpose of satis-
fying the requirements of section 143(e)
and (f) for bonds sold, and mortgage
credit certificates issued, not more than 30
months following the termination date of
the 12-month period used by the issuer to
compute the limitation.
April 3, 2017Bulletin No. 2017–14
1044

Nationwide Average Purchase Price
.06 Section 4.02 of this revenue proce-
dure sets forth a single nationwide aver-
age purchase price for purposes of com-
puting the housing cost/income ratio
under section 143(f)(5).
.07 Issuers must use the nationwide
average purchase price set forth in section
4.02 of this revenue procedure when
computing the housing cost/income ratio
under section 143(f)(5) regardless of
whether they are relying on the average
area purchase price safe harbors contained
in this revenue procedure or using more
accurate and comprehensive data to deter-
mine average area purchase prices for new
and existing residences for a statistical
area that are different from the published
safe harbors in this revenue procedure.
.08 If, pursuant to section 6.02 of this
revenue procedure, an issuer relies on the
average area purchase price safe harbors
contained in Rev. Proc. 2016 –25, the is-
suer must use the nationwide average pur-
chase price set forth in section 4.02 of
Rev. Proc. 2016 –25 in computing the
housing cost/income ratio under section
143(f)(5). Likewise, if, pursuant to section
6.04 of this revenue procedure, an issuer
relies on the nationwide average purchase
price published in Rev. Proc. 2016 –25,
the issuer may not rely on the average area
purchase price safe harbors published in
this revenue procedure.
SECTION 4. AVERAGE AREA AND
NATIONWIDE AVERAGE
PURCHASE PRICES
.01 Average area purchase prices for
single-family and two to four-family res-
idences in MSAs, and for certain counties
and county equivalents are set forth be-
low. The safe harbor for “ALL OTHER
AREAS” (found at the end of the table
below) may be used for a statistical area
that is not listed below.
2017 Average Area Purchase Prices for Mortgage Revenue Bonds
County NameState
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
HALEAL$338,824$433,760$524,297$651,560
PICKENSAL$338,824$433,760$524,297$651,560
RUSSELLAL$296,471$379,540$458,772$570,128
TUSCALOOSAAL$338,824$433,760$524,297$651,560
ALEUTIANS WESTAK$394,118$504,552$609,872$757,903
ANCHORAGE MUNICAK$405,882$519,591$628,082$780,563
BRISTOL BAY BORAK$321,176$411,151$496,982$617,647
DENALI BOROUGHAK$304,706$390,077$471,509$585,985
HAINES BOROUGHAK$290,588$371,969$449,668$558,824
HOONAH-ANGOON CAK$288,235$369,003$446,036$554,271
JUNEAU CITY ANDAK$435,294$557,238$673,606$837,084
KETCHIKAN GATEWAK$332,941$426,189$515,192$640,256
KODIAK ISLAND BAK$390,588$500,000$604,399$751,151
MATANUSKA-SUSITAK$405,882$519,591$628,082$780,563
NOME CENSUS AREAK$361,176$462,353$558,875$694,578
NORTH SLOPE BORAK$340,000$435,243$526,138$653,862
PETERSBURG CENSAK$340,000$435,243$526,138$653,862
SITKA CITY ANDAK$462,353$591,867$715,448$889,156
SKAGWAY MUNICIPAK$424,706$543,683$657,187$816,726
VALDEZ-CORDOVAAK$300,000$384,041$464,194$576,931
WRANGELL CITY AAK$340,000$435,243$526,138$653,862
YAKUTAT CITY ANAK$430,588$551,202$666,292$828,082
COCONINOAZ$370,588$474,425$573,453$712,685
MARICOPAAZ$285,882$365,985$442,353$549,770
PINALAZ$285,882$365,985$442,353$549,770
ALAMEDACA$650,793$833,248$1,007,187$1,251,637
CONTRA COSTACA$650,793$833,248$1,007,187$1,251,637
LOS ANGELESCA$650,793$833,248$1,007,187$1,251,637
Bulletin No. 2017–14April 3, 2017
1045

County NameState
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
MARINCA$650,793$833,248$1,007,187$1,251,637
NAPACA$650,793$833,248$1,007,187$1,251,637
ORANGECA$650,793$833,248$1,007,187$1,251,637
SAN BENITOCA$650,793$833,248$1,007,187$1,251,637
SAN FRANCISCOCA$650,793$833,248$1,007,187$1,251,637
SAN MATEOCA$650,793$833,248$1,007,187$1,251,637
SANTA BARBARACA$650,793$833,248$1,007,187$1,251,637
SANTA CLARACA$650,793$833,248$1,007,187$1,251,637
SANTA CRUZCA$650,793$833,248$1,007,187$1,251,637
VENTURACA$650,793$833,248$1,007,187$1,251,637
ALPINECA$474,118$606,957$733,657$911,765
AMADORCA$340,000$435,243$526,138$653,862
BUTTECA$300,000$384,041$464,194$576,931
CALAVERASCA$382,353$489,463$591,662$735,294
EL DORADOCA$500,000$640,102$773,708$961,535
FRESNOCA$288,235$369,003$446,036$554,271
HUMBOLDTCA$335,294$429,207$518,824$644,808
INYOCA$377,647$483,427$584,399$726,240
MARIPOSACA$329,412$421,688$509,719$633,504
MENDOCINOCA$382,353$489,463$591,662$735,294
MONOCA$541,176$692,788$837,442$1,040,716
MONTEREYCA$588,235$753,043$910,281$1,131,253
NEVADACA$488,235$625,013$755,499$938,926
PLACERCA$500,000$640,102$773,708$961,535
PLUMASCA$344,706$441,279$533,402$662,916
RIVERSIDECA$388,235$496,982$600,767$746,598
SACRAMENTOCA$500,000$640,102$773,708$961,535
SAN BERNARDINOCA$388,235$496,982$600,767$746,598
SAN DIEGOCA$627,059$802,762$970,332$1,205,882
SAN JOAQUINCA$370,588$474,425$573,453$712,685
SAN LUIS OBISPOCA$600,000$768,082$928,440$1,153,862
SIERRACA$311,765$399,079$482,404$599,540
SOLANOCA$441,176$564,757$682,711$848,440
SONOMACA$609,412$780,153$943,018$1,171,969
STANISLAUSCA$305,882$391,560$473,299$588,235
SUTTERCA$282,353$361,432$436,931$542,967
TUOLUMNECA$338,824$433,760$524,297$651,560
YOLOCA$500,000$640,102$773,708$961,535
YUBACA$282,353$361,432$436,931$542,967
EAGLECO$650,793$833,248$1,007,187$1,251,637
GARFIELDCO$650,793$833,248$1,007,187$1,251,637
PITKINCO$650,793$833,248$1,007,187$1,251,637
SAN MIGUELCO$650,793$833,248$1,007,187$1,251,637
SUMMITCO$650,793$833,248$1,007,187$1,251,637
ADAMSCO$504,706$646,087$781,023$970,588
April 3, 2017Bulletin No. 2017–14
1046

County NameState
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
ARAPAHOECO$504,706$646,087$781,023$970,588
ARCHULETACO$291,765$373,504$451,458$561,074
BOULDERCO$541,176$692,788$837,442$1,040,716
BROOMFIELDCO$504,706$646,087$781,023$970,588
CLEAR CREEKCO$504,706$646,087$781,023$970,588
DENVERCO$504,706$646,087$781,023$970,588
DOUGLASCO$504,706$646,087$781,023$970,588
ELBERTCO$504,706$646,087$781,023$970,588
EL PASOCO$291,765$373,504$451,458$561,074
GILPINCO$504,706$646,087$781,023$970,588
GRANDCO$341,176$436,777$527,928$656,113
GUNNISONCO$365,882$468,389$566,189$703,632
HINSDALECO$437,647$560,256$677,238$841,637
JEFFERSONCO$504,706$646,087$781,023$970,588
LA PLATACO$394,118$504,552$609,872$757,903
LARIMERCO$384,706$492,481$595,294$739,795
MESACO$289,412$370,486$447,826$556,573
OURAYCO$435,294$557,238$673,606$837,084
PARKCO$504,706$646,087$781,023$970,588
ROUTTCO$649,412$831,355$1,004,910$1,248,900
TELLERCO$291,765$373,504$451,458$561,074
WELDCO$329,412$421,688$509,719$633,504
FAIRFIELDCT$615,294$787,673$952,123$1,183,274
HARTFORDCT$361,176$462,353$558,875$694,578
LITCHFIELDCT$365,882$468,389$566,189$703,632
MIDDLESEXCT$361,176$462,353$558,875$694,578
NEW HAVENCT$312,941$400,614$484,246$601,790
NEW LONDONCT$287,059$367,468$444,194$552,020
TOLLANDCT$361,176$462,353$558,875$694,578
WINDHAMCT$294,118$376,522$455,141$565,627
DISTRICT OF COLDC$650,793$833,248$1,007,187$1,251,637
NEW CASTLEDE$388,235$496,982$600,767$746,598
SUSSEXDE$323,529$414,169$500,614$622,148
BAKERFL$337,647$432,225$522,455$649,309
BROWARDFL$352,941$451,816$546,138$678,721
CLAYFL$337,647$432,225$522,455$649,309
COLLIERFL$461,176$590,384$713,657$886,905
DUVALFL$337,647$432,225$522,455$649,309
LAKEFL$283,529$362,967$438,721$545,217
MANATEEFL$294,118$376,522$455,141$565,627
MARTINFL$323,529$414,169$500,614$622,148
MIAMI-DADEFL$352,941$451,816$546,138$678,721
Bulletin No. 2017–14April 3, 2017
1047

County NameState
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
MONROEFL$541,176$692,788$837,442$1,040,716
NASSAUFL$337,647$432,225$522,455$649,309
OKALOOSAFL$349,412$447,315$540,665$671,918
ORANGEFL$283,529$362,967$438,721$545,217
OSCEOLAFL$283,529$362,967$438,721$545,217
PALM BEACHFL$352,941$451,816$546,138$678,721
ST. JOHNSFL$337,647$432,225$522,455$649,309
ST. LUCIEFL$323,529$414,169$500,614$622,148
SARASOTAFL$294,118$376,522$455,141$565,627
SEMINOLEFL$283,529$362,967$438,721$545,217
SUMTERFL$294,118$376,522$455,141$565,627
WALTONFL$349,412$447,315$540,665$671,918
BARROWGA$367,059$469,872$567,980$705,882
BARTOWGA$367,059$469,872$567,980$705,882
BUTTSGA$367,059$469,872$567,980$705,882
CARROLLGA$367,059$469,872$567,980$705,882
CHATTAHOOCHEEGA$296,471$379,540$458,772$570,128
CHEROKEEGA$367,059$469,872$567,980$705,882
CLARKEGA$328,235$420,205$507,928$631,202
CLAYTONGA$367,059$469,872$567,980$705,882
COBBGA$367,059$469,872$567,980$705,882
COWETAGA$367,059$469,872$567,980$705,882
DAWSONGA$367,059$469,872$567,980$705,882
DEKALBGA$367,059$469,872$567,980$705,882
DOUGLASGA$367,059$469,872$567,980$705,882
FAYETTEGA$367,059$469,872$567,980$705,882
FORSYTHGA$367,059$469,872$567,980$705,882
FULTONGA$367,059$469,872$567,980$705,882
GREENEGA$527,059$674,731$815,601$1,013,606
GWINNETTGA$367,059$469,872$567,980$705,882
HARALSONGA$367,059$469,872$567,980$705,882
HARRISGA$296,471$379,540$458,772$570,128
HEARDGA$367,059$469,872$567,980$705,882
HENRYGA$367,059$469,872$567,980$705,882
JASPERGA$367,059$469,872$567,980$705,882
LAMARGA$367,059$469,872$567,980$705,882
MADISONGA$328,235$420,205$507,928$631,202
MARIONGA$296,471$379,540$458,772$570,128
MERIWETHERGA$367,059$469,872$567,980$705,882
MORGANGA$367,059$469,872$567,980$705,882
MUSCOGEEGA$296,471$379,540$458,772$570,128
NEWTONGA$367,059$469,872$567,980$705,882
OCONEEGA$328,235$420,205$507,928$631,202
OGLETHORPEGA$328,235$420,205$507,928$631,202
PAULDINGGA$367,059$469,872$567,980$705,882
April 3, 2017Bulletin No. 2017–14
1048

County NameState
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
PICKENSGA$367,059$469,872$567,980$705,882
PIKEGA$367,059$469,872$567,980$705,882
ROCKDALEGA$367,059$469,872$567,980$705,882
SPALDINGGA$367,059$469,872$567,980$705,882
WALTONGA$367,059$469,872$567,980$705,882
HONOLULUHI$737,647$944,297$1,141,483$1,418,568
KALAWAOHI$672,941$861,483$1,041,330$1,294,118
KAUAIHI$729,412$933,760$1,128,747$1,402,711
MAUIHI$672,941$861,483$1,041,330$1,294,118
HAWAIIHI$376,471$481,944$582,558$723,990
BLAINEID$650,793$833,248$1,007,187$1,251,637
CAMASID$650,793$833,248$1,007,187$1,251,637
LINCOLNID$650,793$833,248$1,007,187$1,251,637
TETONID$650,793$833,248$1,007,187$1,251,637
BOONEIL$347,059$444,297$537,033$667,417
COOKIL$374,118$478,926$578,926$719,437
DEKALBIL$374,118$478,926$578,926$719,437
DUPAGEIL$374,118$478,926$578,926$719,437
GRUNDYIL$374,118$478,926$578,926$719,437
KANEIL$374,118$478,926$578,926$719,437
KENDALLIL$374,118$478,926$578,926$719,437
LAKEIL$374,118$478,926$578,926$719,437
MCHENRYIL$374,118$478,926$578,926$719,437
WILLIL$374,118$478,926$578,926$719,437
WINNEBAGOIL$347,059$444,297$537,033$667,417
BOONEIN$315,294$403,632$487,877$606,343
BROWNIN$315,294$403,632$487,877$606,343
CLARKIN$305,882$391,560$473,299$588,235
FLOYDIN$305,882$391,560$473,299$588,235
HAMILTONIN$315,294$403,632$487,877$606,343
HANCOCKIN$315,294$403,632$487,877$606,343
HARRISONIN$305,882$391,560$473,299$588,235
HENDRICKSIN$315,294$403,632$487,877$606,343
JASPERIN$374,118$478,926$578,926$719,437
JOHNSONIN$315,294$403,632$487,877$606,343
LAKEIN$374,118$478,926$578,926$719,437
MADISONIN$315,294$403,632$487,877$606,343
MARIONIN$315,294$403,632$487,877$606,343
MORGANIN$315,294$403,632$487,877$606,343
NEWTONIN$374,118$478,926$578,926$719,437
PORTERIN$374,118$478,926$578,926$719,437
PUTNAMIN$315,294$403,632$487,877$606,343
Bulletin No. 2017–14April 3, 2017
1049

County NameState
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
SCOTTIN$305,882$391,560$473,299$588,235
SHELBYIN$315,294$403,632$487,877$606,343
WASHINGTONIN$305,882$391,560$473,299$588,235
JOHNSONKS$315,294$403,632$487,877$606,343
LEAVENWORTHKS$315,294$403,632$487,877$606,343
LINNKS$315,294$403,632$487,877$606,343
MIAMIKS$315,294$403,632$487,877$606,343
WYANDOTTEKS$315,294$403,632$487,877$606,343
BULLITTKY$305,882$391,560$473,299$588,235
HENRYKY$305,882$391,560$473,299$588,235
JEFFERSONKY$305,882$391,560$473,299$588,235
OLDHAMKY$305,882$391,560$473,299$588,235
SHELBYKY$305,882$391,560$473,299$588,235
SPENCERKY$305,882$391,560$473,299$588,235
TRIMBLEKY$305,882$391,560$473,299$588,235
DUKESMA$650,793$833,248$1,007,187$1,251,637
NANTUCKETMA$650,793$833,248$1,007,187$1,251,637
BARNSTABLEMA$417,647$534,629$646,292$803,171
BRISTOLMA$436,471$558,772$675,396$839,386
ESSEXMA$611,765$783,171$946,650$1,176,471
HAMPDENMA$294,118$376,522$455,141$565,627
HAMPSHIREMA$294,118$376,522$455,141$565,627
MIDDLESEXMA$611,765$783,171$946,650$1,176,471
NORFOLKMA$611,765$783,171$946,650$1,176,471
PLYMOUTHMA$611,765$783,171$946,650$1,176,471
SUFFOLKMA$611,765$783,171$946,650$1,176,471
WORCESTERMA$294,118$376,522$455,141$565,627
CALVERTMD$650,793$833,248$1,007,187$1,251,637
CHARLESMD$650,793$833,248$1,007,187$1,251,637
FREDERICKMD$650,793$833,248$1,007,187$1,251,637
MONTGOMERYMD$650,793$833,248$1,007,187$1,251,637
PRINCE GEORGE’SMD$650,793$833,248$1,007,187$1,251,637
ANNE ARUNDELMD$529,412$677,749$819,233$1,018,107
BALTIMOREMD$529,412$677,749$819,233$1,018,107
CARROLLMD$529,412$677,749$819,233$1,018,107
CECILMD$388,235$496,982$600,767$746,598
HARFORDMD$529,412$677,749$819,233$1,018,107
HOWARDMD$529,412$677,749$819,233$1,018,107
KENTMD$297,647$381,023$460,563$572,379
QUEEN ANNE’SMD$529,412$677,749$819,233$1,018,107
ST. MARY’SMD$355,294$454,834$549,770$683,274
SOMERSETMD$323,529$414,169$500,614$622,148
TALBOTMD$391,765$501,535$606,240$753,402
April 3, 2017Bulletin No. 2017–14
1050

County NameState
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
WICOMICOMD$323,529$414,169$500,614$622,148
WORCESTERMD$323,529$414,169$500,614$622,148
BALTIMORE CITYMD$529,412$677,749$819,233$1,018,107
CUMBERLANDME$311,765$399,079$482,404$599,540
KNOXME$285,882$365,985$442,353$549,770
SAGADAHOCME$311,765$399,079$482,404$599,540
YORKME$311,765$399,079$482,404$599,540
ANOKAMN$340,000$435,243$526,138$653,862
CARVERMN$340,000$435,243$526,138$653,862
CHISAGOMN$340,000$435,243$526,138$653,862
COOKMN$289,412$370,486$447,826$556,573
DAKOTAMN$340,000$435,243$526,138$653,862
HENNEPINMN$340,000$435,243$526,138$653,862
ISANTIMN$340,000$435,243$526,138$653,862
LE SUEURMN$340,000$435,243$526,138$653,862
MILLE LACSMN$340,000$435,243$526,138$653,862
RAMSEYMN$340,000$435,243$526,138$653,862
SCOTTMN$340,000$435,243$526,138$653,862
SHERBURNEMN$340,000$435,243$526,138$653,862
SIBLEYMN$340,000$435,243$526,138$653,862
WASHINGTONMN$340,000$435,243$526,138$653,862
WRIGHTMN$340,000$435,243$526,138$653,862
BATESMO$315,294$403,632$487,877$606,343
CALDWELLMO$315,294$403,632$487,877$606,343
CASSMO$315,294$403,632$487,877$606,343
CLAYMO$315,294$403,632$487,877$606,343
CLINTONMO$315,294$403,632$487,877$606,343
JACKSONMO$315,294$403,632$487,877$606,343
LAFAYETTEMO$315,294$403,632$487,877$606,343
PLATTEMO$315,294$403,632$487,877$606,343
RAYMO$315,294$403,632$487,877$606,343
COPIAHMS$288,235$369,003$446,036$554,271
HINDSMS$288,235$369,003$446,036$554,271
MADISONMS$288,235$369,003$446,036$554,271
RANKINMS$288,235$369,003$446,036$554,271
SIMPSONMS$288,235$369,003$446,036$554,271
YAZOOMS$288,235$369,003$446,036$554,271
FALLONMT$289,412$370,486$447,826$556,573
FLATHEADMT$308,235$394,578$476,982$592,737
GALLATINMT$364,706$466,854$564,348$701,330
JEFFERSONMT$292,941$374,987$453,299$563,325
LEWIS AND CLARKMT$292,941$374,987$453,299$563,325
Bulletin No. 2017–14April 3, 2017
1051

County NameState
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
MADISONMT$332,941$426,189$515,192$640,256
MISSOULAMT$302,353$387,059$467,877$581,432
SWEET GRASSMT$296,471$379,540$458,772$570,128
CAMDENNC$650,793$833,248$1,007,187$1,251,637
PASQUOTANKNC$650,793$833,248$1,007,187$1,251,637
PERQUIMANSNC$650,793$833,248$1,007,187$1,251,637
CABARRUSNC$287,059$367,468$444,194$552,020
CHATHAMNC$368,235$471,407$569,821$708,133
CURRITUCKNC$469,412$600,921$726,394$902,711
DARENC$400,000$512,072$618,977$769,207
DURHAMNC$368,235$471,407$569,821$708,133
FRANKLINNC$307,059$393,095$475,141$590,486
GASTONNC$287,059$367,468$444,194$552,020
GATESNC$469,412$600,921$726,394$902,711
HYDENC$494,118$632,532$764,604$950,230
IREDELLNC$287,059$367,468$444,194$552,020
JOHNSTONNC$307,059$393,095$475,141$590,486
LINCOLNNC$287,059$367,468$444,194$552,020
MECKLENBURGNC$287,059$367,468$444,194$552,020
ORANGENC$368,235$471,407$569,821$708,133
PERSONNC$368,235$471,407$569,821$708,133
ROWANNC$287,059$367,468$444,194$552,020
TYRRELLNC$400,000$512,072$618,977$769,207
UNIONNC$287,059$367,468$444,194$552,020
WAKENC$307,059$393,095$475,141$590,486
BILLINGSND$347,059$444,297$537,033$667,417
BURLEIGHND$303,529$388,542$469,668$583,683
MCINTOSHND$291,765$373,504$451,458$561,074
MCKENZIEND$305,882$391,560$473,299$588,235
MORTONND$303,529$388,542$469,668$583,683
OLIVERND$303,529$388,542$469,668$583,683
SIOUXND$303,529$388,542$469,668$583,683
STARKND$315,294$403,632$487,877$606,343
WILLIAMSND$337,647$432,225$522,455$649,309
LINCOLNNE$443,529$567,775$686,343$852,941
LOGANNE$443,529$567,775$686,343$852,941
MCPHERSONNE$443,529$567,775$686,343$852,941
HILLSBOROUGHNH$304,706$390,077$471,509$585,985
ROCKINGHAMNH$611,765$783,171$946,650$1,176,471
STRAFFORDNH$611,765$783,171$946,650$1,176,471
BERGENNJ$650,793$833,248$1,007,187$1,251,637
ESSEXNJ$650,793$833,248$1,007,187$1,251,637
April 3, 2017Bulletin No. 2017–14
1052

County NameState
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
HUDSONNJ$650,793$833,248$1,007,187$1,251,637
HUNTERDONNJ$650,793$833,248$1,007,187$1,251,637
MIDDLESEXNJ$650,793$833,248$1,007,187$1,251,637
MONMOUTHNJ$650,793$833,248$1,007,187$1,251,637
MORRISNJ$650,793$833,248$1,007,187$1,251,637
OCEANNJ$650,793$833,248$1,007,187$1,251,637
PASSAICNJ$650,793$833,248$1,007,187$1,251,637
SOMERSETNJ$650,793$833,248$1,007,187$1,251,637
SUSSEXNJ$650,793$833,248$1,007,187$1,251,637
UNIONNJ$650,793$833,248$1,007,187$1,251,637
ATLANTICNJ$323,529$414,169$500,614$622,148
BURLINGTONNJ$388,235$496,982$600,767$746,598
CAMDENNJ$388,235$496,982$600,767$746,598
CAPE MAYNJ$423,529$542,199$655,396$814,476
GLOUCESTERNJ$388,235$496,982$600,767$746,598
MERCERNJ$352,941$451,816$546,138$678,721
SALEMNJ$388,235$496,982$600,767$746,598
WARRENNJ$381,176$487,980$589,821$733,043
CATRONNM$404,706$518,107$626,240$778,261
LOS ALAMOSNM$389,412$498,517$602,558$748,849
SANTA FENM$376,471$481,944$582,558$723,990
TAOSNM$292,941$374,987$453,299$563,325
CLARKNV$294,118$376,522$455,141$565,627
DOUGLASNV$370,588$474,425$573,453$712,685
STOREYNV$352,941$451,816$546,138$678,721
WASHOENV$352,941$451,816$546,138$678,721
CARSON CITYNV$292,941$374,987$453,299$563,325
BRONXNY$650,793$833,248$1,007,187$1,251,637
DUTCHESSNY$650,793$833,248$1,007,187$1,251,637
KINGSNY$650,793$833,248$1,007,187$1,251,637
NASSAUNY$650,793$833,248$1,007,187$1,251,637
NEW YORKNY$650,793$833,248$1,007,187$1,251,637
ORANGENY$650,793$833,248$1,007,187$1,251,637
PUTNAMNY$650,793$833,248$1,007,187$1,251,637
QUEENSNY$650,793$833,248$1,007,187$1,251,637
RICHMONDNY$650,793$833,248$1,007,187$1,251,637
ROCKLANDNY$650,793$833,248$1,007,187$1,251,637
SUFFOLKNY$650,793$833,248$1,007,187$1,251,637
WESTCHESTERNY$650,793$833,248$1,007,187$1,251,637
ALBANYNY$298,824$382,558$462,404$574,629
RENSSELAERNY$298,824$382,558$462,404$574,629
SARATOGANY$298,824$382,558$462,404$574,629
SCHENECTADYNY$298,824$382,558$462,404$574,629
Bulletin No. 2017–14April 3, 2017
1053

County NameState
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
SCHOHARIENY$298,824$382,558$462,404$574,629
DELAWAREOH$334,118$427,724$517,033$642,506
FAIRFIELDOH$334,118$427,724$517,033$642,506
FRANKLINOH$334,118$427,724$517,033$642,506
HOCKINGOH$334,118$427,724$517,033$642,506
LICKINGOH$334,118$427,724$517,033$642,506
MADISONOH$334,118$427,724$517,033$642,506
MORROWOH$334,118$427,724$517,033$642,506
PERRYOH$334,118$427,724$517,033$642,506
PICKAWAYOH$334,118$427,724$517,033$642,506
UNIONOH$334,118$427,724$517,033$642,506
BENTONOR$330,588$423,223$511,560$635,754
CLACKAMASOR$417,647$534,629$646,292$803,171
CLATSOPOR$288,235$369,003$446,036$554,271
COLUMBIAOR$417,647$534,629$646,292$803,171
CURRYOR$335,294$429,207$518,824$644,808
DESCHUTESOR$350,588$448,798$542,506$674,220
HOOD RIVEROR$400,000$512,072$618,977$769,207
JACKSONOR$287,059$367,468$444,194$552,020
LINCOLNOR$282,353$361,432$436,931$542,967
MULTNOMAHOR$417,647$534,629$646,292$803,171
TILLAMOOKOR$294,118$376,522$455,141$565,627
WASHINGTONOR$417,647$534,629$646,292$803,171
YAMHILLOR$417,647$534,629$646,292$803,171
PIKEPA$650,793$833,248$1,007,187$1,251,637
BUCKSPA$388,235$496,982$600,767$746,598
CARBONPA$381,176$487,980$589,821$733,043
CHESTERPA$388,235$496,982$600,767$746,598
DELAWAREPA$388,235$496,982$600,767$746,598
LEHIGHPA$381,176$487,980$589,821$733,043
MONTGOMERYPA$388,235$496,982$600,767$746,598
NORTHAMPTONPA$381,176$487,980$589,821$733,043
PHILADELPHIAPA$388,235$496,982$600,767$746,598
BRISTOLRI$436,471$558,772$675,396$839,386
KENTRI$436,471$558,772$675,396$839,386
NEWPORTRI$436,471$558,772$675,396$839,386
PROVIDENCERI$436,471$558,772$675,396$839,386
WASHINGTONRI$436,471$558,772$675,396$839,386
BEAUFORTSC$358,824$459,335$555,243$690,026
BERKELEYSC$365,882$468,389$566,189$703,632
CHARLESTONSC$365,882$468,389$566,189$703,632
April 3, 2017Bulletin No. 2017–14
1054

County NameState
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
CHESTERSC$287,059$367,468$444,194$552,020
DORCHESTERSC$365,882$468,389$566,189$703,632
GEORGETOWNSC$335,294$429,207$518,824$644,808
JASPERSC$358,824$459,335$555,243$690,026
LANCASTERSC$287,059$367,468$444,194$552,020
YORKSC$287,059$367,468$444,194$552,020
CANNONTN$477,647$611,458$739,130$918,568
CHEATHAMTN$477,647$611,458$739,130$918,568
DAVIDSONTN$477,647$611,458$739,130$918,568
DICKSONTN$477,647$611,458$739,130$918,568
HICKMANTN$477,647$611,458$739,130$918,568
MACONTN$477,647$611,458$739,130$918,568
MAURYTN$477,647$611,458$739,130$918,568
ROBERTSONTN$477,647$611,458$739,130$918,568
RUTHERFORDTN$477,647$611,458$739,130$918,568
SMITHTN$477,647$611,458$739,130$918,568
SUMNERTN$477,647$611,458$739,130$918,568
TROUSDALETN$477,647$611,458$739,130$918,568
WILLIAMSONTN$477,647$611,458$739,130$918,568
WILSONTN$477,647$611,458$739,130$918,568
ATASCOSATX$335,294$429,207$518,824$644,808
AUSTINTX$338,824$433,760$524,297$651,560
BANDERATX$335,294$429,207$518,824$644,808
BASTROPTX$369,412$472,890$571,611$710,384
BEXARTX$335,294$429,207$518,824$644,808
BRAZORIATX$338,824$433,760$524,297$651,560
CALDWELLTX$369,412$472,890$571,611$710,384
CHAMBERSTX$338,824$433,760$524,297$651,560
COLLINTX$370,588$474,425$573,453$712,685
COMALTX$335,294$429,207$518,824$644,808
DALLASTX$370,588$474,425$573,453$712,685
DENTONTX$370,588$474,425$573,453$712,685
ELLISTX$370,588$474,425$573,453$712,685
FORT BENDTX$338,824$433,760$524,297$651,560
GALVESTONTX$338,824$433,760$524,297$651,560
GILLESPIETX$288,235$369,003$446,036$554,271
GUADALUPETX$335,294$429,207$518,824$644,808
HARRISTX$338,824$433,760$524,297$651,560
HAYSTX$369,412$472,890$571,611$710,384
HOODTX$370,588$474,425$573,453$712,685
HUNTTX$370,588$474,425$573,453$712,685
JOHNSONTX$370,588$474,425$573,453$712,685
KAUFMANTX$370,588$474,425$573,453$712,685
KENDALLTX$335,294$429,207$518,824$644,808
Bulletin No. 2017–14April 3, 2017
1055

County NameState
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
LIBERTYTX$338,824$433,760$524,297$651,560
MARTINTX$291,765$373,504$451,458$561,074
MEDINATX$335,294$429,207$518,824$644,808
MIDLANDTX$291,765$373,504$451,458$561,074
MONTGOMERYTX$338,824$433,760$524,297$651,560
PARKERTX$370,588$474,425$573,453$712,685
ROCKWALLTX$370,588$474,425$573,453$712,685
SOMERVELLTX$370,588$474,425$573,453$712,685
TARRANTTX$370,588$474,425$573,453$712,685
TRAVISTX$369,412$472,890$571,611$710,384
WALLERTX$338,824$433,760$524,297$651,560
WILLIAMSONTX$369,412$472,890$571,611$710,384
WILSONTX$335,294$429,207$518,824$644,808
WISETX$370,588$474,425$573,453$712,685
SUMMITUT$650,793$833,248$1,007,187$1,251,637
BOX ELDERUT$398,824$510,537$617,136$766,957
DAGGETTUT$309,412$396,113$478,772$595,038
DAVISUT$398,824$510,537$617,136$766,957
JUABUT$331,765$424,706$513,350$638,005
MORGANUT$398,824$510,537$617,136$766,957
RICHUT$303,529$388,542$469,668$583,683
SALT LAKEUT$336,471$430,742$520,665$647,059
TOOELEUT$336,471$430,742$520,665$647,059
UTAHUT$331,765$424,706$513,350$638,005
WASATCHUT$420,000$537,647$649,923$807,673
WASHINGTONUT$309,412$396,113$478,772$595,038
WEBERUT$398,824$510,537$617,136$766,957
ARLINGTONVA$650,793$833,248$1,007,187$1,251,637
CLARKEVA$650,793$833,248$1,007,187$1,251,637
CULPEPERVA$650,793$833,248$1,007,187$1,251,637
FAIRFAXVA$650,793$833,248$1,007,187$1,251,637
FAUQUIERVA$650,793$833,248$1,007,187$1,251,637
LOUDOUNVA$650,793$833,248$1,007,187$1,251,637
PRINCE WILLIAMVA$650,793$833,248$1,007,187$1,251,637
RAPPAHANNOCKVA$650,793$833,248$1,007,187$1,251,637
SPOTSYLVANIAVA$650,793$833,248$1,007,187$1,251,637
STAFFORDVA$650,793$833,248$1,007,187$1,251,637
WARRENVA$650,793$833,248$1,007,187$1,251,637
ALEXANDRIA CITYVA$650,793$833,248$1,007,187$1,251,637
FAIRFAX CITYVA$650,793$833,248$1,007,187$1,251,637
FALLS CHURCH CIVA$650,793$833,248$1,007,187$1,251,637
FREDERICKSBURGVA$650,793$833,248$1,007,187$1,251,637
MANASSAS CITYVA$650,793$833,248$1,007,187$1,251,637
MANASSAS PARK CVA$650,793$833,248$1,007,187$1,251,637
April 3, 2017Bulletin No. 2017–14
1056

County NameState
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
ALBEMARLEVA$447,059$572,327$691,765$859,744
AMELIAVA$548,235$701,841$848,338$1,054,322
AMHERSTVA$298,824$382,558$462,404$574,629
APPOMATTOXVA$298,824$382,558$462,404$574,629
BEDFORDVA$298,824$382,558$462,404$574,629
BUCKINGHAMVA$447,059$572,327$691,765$859,744
CAMPBELLVA$298,824$382,558$462,404$574,629
CAROLINEVA$548,235$701,841$848,338$1,054,322
CHARLES CITYVA$548,235$701,841$848,338$1,054,322
CHESTERFIELDVA$548,235$701,841$848,338$1,054,322
DINWIDDIEVA$548,235$701,841$848,338$1,054,322
FLOYDVA$298,824$382,558$462,404$574,629
FLUVANNAVA$447,059$572,327$691,765$859,744
FREDERICKVA$288,235$369,003$446,036$554,271
GILESVA$298,824$382,558$462,404$574,629
GLOUCESTERVA$469,412$600,921$726,394$902,711
GOOCHLANDVA$548,235$701,841$848,338$1,054,322
GREENEVA$447,059$572,327$691,765$859,744
HANOVERVA$548,235$701,841$848,338$1,054,322
HENRICOVA$548,235$701,841$848,338$1,054,322
ISLE OF WIGHTVA$469,412$600,921$726,394$902,711
JAMES CITYVA$469,412$600,921$726,394$902,711
KING GEORGEVA$358,824$459,335$555,243$690,026
KING WILLIAMVA$548,235$701,841$848,338$1,054,322
LANCASTERVA$452,941$579,847$700,870$871,049
MATHEWSVA$469,412$600,921$726,394$902,711
MONTGOMERYVA$298,824$382,558$462,404$574,629
NELSONVA$447,059$572,327$691,765$859,744
NEW KENTVA$548,235$701,841$848,338$1,054,322
NORTHUMBERLANDVA$325,882$417,187$504,297$626,701
POWHATANVA$548,235$701,841$848,338$1,054,322
PRINCE GEORGEVA$548,235$701,841$848,338$1,054,322
PULASKIVA$298,824$382,558$462,404$574,629
ROCKINGHAMVA$283,529$362,967$438,721$545,217
SUSSEXVA$548,235$701,841$848,338$1,054,322
YORKVA$469,412$600,921$726,394$902,711
BEDFORD CITYVA$298,824$382,558$462,404$574,629
CHARLOTTESVILLEVA$447,059$572,327$691,765$859,744
CHESAPEAKE CITYVA$469,412$600,921$726,394$902,711
COLONIAL HEIGHTVA$548,235$701,841$848,338$1,054,322
HAMPTON CITYVA$469,412$600,921$726,394$902,711
HARRISONBURG CIVA$283,529$362,967$438,721$545,217
HOPEWELL CITYVA$548,235$701,841$848,338$1,054,322
LEXINGTON CITYVA$297,647$381,023$460,563$572,379
LYNCHBURG CITYVA$298,824$382,558$462,404$574,629
NEWPORT NEWS CIVA$469,412$600,921$726,394$902,711
Bulletin No. 2017–14April 3, 2017
1057

County NameState
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
NORFOLK CITYVA$469,412$600,921$726,394$902,711
PETERSBURG CITYVA$548,235$701,841$848,338$1,054,322
POQUOSON CITYVA$469,412$600,921$726,394$902,711
PORTSMOUTH CITYVA$469,412$600,921$726,394$902,711
RADFORD CITYVA$298,824$382,558$462,404$574,629
RICHMOND CITYVA$548,235$701,841$848,338$1,054,322
SUFFOLK CITYVA$469,412$600,921$726,394$902,711
VIRGINIA BEACHVA$469,412$600,921$726,394$902,711
WILLIAMSBURG CIVA$469,412$600,921$726,394$902,711
WINCHESTER CITYVA$288,235$369,003$446,036$554,271
BENNINGTONVT$283,529$362,967$438,721$545,217
CHITTENDENVT$350,588$448,798$542,506$674,220
FRANKLINVT$350,588$448,798$542,506$674,220
GRAND ISLEVT$350,588$448,798$542,506$674,220
LAMOILLEVT$282,353$361,432$436,931$542,967
CHELANWA$350,588$448,798$542,506$674,220
CLALLAMWA$392,941$503,018$608,031$755,652
CLARKWA$417,647$534,629$646,292$803,171
DOUGLASWA$350,588$448,798$542,506$674,220
ISLANDWA$335,294$429,207$518,824$644,808
JEFFERSONWA$329,412$421,688$509,719$633,504
KINGWA$605,882$775,652$937,545$1,165,166
KITSAPWA$317,647$406,650$491,509$610,844
PIERCEWA$605,882$775,652$937,545$1,165,166
SAN JUANWA$494,118$632,532$764,604$950,230
SKAGITWA$322,353$412,634$498,824$619,898
SKAMANIAWA$417,647$534,629$646,292$803,171
SNOHOMISHWA$605,882$775,652$937,545$1,165,166
THURSTONWA$304,706$390,077$471,509$585,985
WHATCOMWA$328,235$420,205$507,928$631,202
COLUMBIAWI$292,941$374,987$453,299$563,325
DANEWI$292,941$374,987$453,299$563,325
GREENWI$292,941$374,987$453,299$563,325
IOWAWI$292,941$374,987$453,299$563,325
KENOSHAWI$374,118$478,926$578,926$719,437
MILWAUKEEWI$305,882$391,560$473,299$588,235
OZAUKEEWI$305,882$391,560$473,299$588,235
PIERCEWI$340,000$435,243$526,138$653,862
ST. CROIXWI$340,000$435,243$526,138$653,862
WASHINGTONWI$305,882$391,560$473,299$588,235
WAUKESHAWI$305,882$391,560$473,299$588,235
JEFFERSONWV$650,793$833,248$1,007,187$1,251,637
April 3, 2017Bulletin No. 2017–14
1058

County NameState
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
HAMPSHIREWV$288,235$369,003$446,036$554,271
TETONWY$650,793$833,248$1,007,187$1,251,637
SHERIDANWY$315,294$403,632$487,877$606,343
SUBLETTEWY$294,118$376,522$455,141$565,627
SWEETWATERWY$323,529$414,169$500,614$622,148
GUAMGU$576,471$738,005$892,072$1,108,593
NORTHERN ISLANDMP$536,471$686,752$830,128$1,031,662
ROTAMP$420,000$537,647$649,923$807,673
SAIPANMP$541,176$692,788$837,442$1,040,716
TINIANMP$544,706$697,340$842,916$1,047,519
AGUAS BUENASPR$394,118$504,552$609,872$757,903
AIBONITOPR$394,118$504,552$609,872$757,903
BARCELONETAPR$394,118$504,552$609,872$757,903
BARRANQUITASPR$394,118$504,552$609,872$757,903
BAYAMONPR$394,118$504,552$609,872$757,903
CAGUASPR$394,118$504,552$609,872$757,903
CANOVANASPR$394,118$504,552$609,872$757,903
CAROLINAPR$394,118$504,552$609,872$757,903
CATANOPR$394,118$504,552$609,872$757,903
CAYEYPR$394,118$504,552$609,872$757,903
CEIBAPR$394,118$504,552$609,872$757,903
CIALESPR$394,118$504,552$609,872$757,903
CIDRAPR$394,118$504,552$609,872$757,903
COMERIOPR$394,118$504,552$609,872$757,903
COROZALPR$394,118$504,552$609,872$757,903
CULEBRAPR$289,412$370,486$447,826$556,573
DORADOPR$394,118$504,552$609,872$757,903
FAJARDOPR$394,118$504,552$609,872$757,903
FLORIDAPR$394,118$504,552$609,872$757,903
GUAYNABOPR$394,118$504,552$609,872$757,903
GURABOPR$394,118$504,552$609,872$757,903
HUMACAOPR$394,118$504,552$609,872$757,903
JUNCOSPR$394,118$504,552$609,872$757,903
LAS PIEDRASPR$394,118$504,552$609,872$757,903
LOIZAPR$394,118$504,552$609,872$757,903
LUQUILLOPR$394,118$504,552$609,872$757,903
MANATIPR$394,118$504,552$609,872$757,903
MAUNABOPR$394,118$504,552$609,872$757,903
MOROVISPR$394,118$504,552$609,872$757,903
NAGUABOPR$394,118$504,552$609,872$757,903
NARANJITOPR$394,118$504,552$609,872$757,903
OROCOVISPR$394,118$504,552$609,872$757,903
Bulletin No. 2017–14April 3, 2017
1059

County NameState
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
RIO GRANDEPR$394,118$504,552$609,872$757,903
SAN JUANPR$394,118$504,552$609,872$757,903
SAN LORENZOPR$394,118$504,552$609,872$757,903
TOA ALTAPR$394,118$504,552$609,872$757,903
TOA BAJAPR$394,118$504,552$609,872$757,903
TRUJILLO ALTOPR$394,118$504,552$609,872$757,903
VEGA ALTAPR$394,118$504,552$609,872$757,903
VEGA BAJAPR$394,118$504,552$609,872$757,903
YABUCOAPR$394,118$504,552$609,872$757,903
ST. CROIX ISLANVI$335,294$429,207$518,824$644,808
ST. JOHN ISLANDVI$637,647$816,317$986,701$1,226,240
ST. THOMAS ISLAVI$456,471$584,348$706,343$877,852
All other areas - 2591
counties (floor):
$282,010$361,074$436,445$542,353
.02 The nationwide average purchase
price (for use in the housing cost/income
ratio for new and existing residences) is
$276,100.
SECTION 5. EFFECT ON OTHER
DOCUMENTS
Rev. Proc. 2016 –25 is obsolete except
as provided in section 6 of this revenue
procedure.
SECTION 6. EFFECTIVE DATES
.01 Issuers may rely on this revenue
procedure to determine average area pur-
chase price safe harbors for commitments
to provide financing or issue mortgage
credit certificates that are made, or (if the
purchase precedes the commitment) for
residences that are purchased, in the pe-
riod that begins on March 17, 2017, and
ends on the date as of which the safe
harbors contained in section 4.01 of this
revenue procedure are rendered obsolete
by a new revenue procedure.
.02 Notwithstanding section 5 of this
revenue procedure, issuers may continue
to rely on the average area purchase price
safe harbors contained in Rev. Proc.
2016 –25, with respect to bonds sold, or
for mortgage credit certificates issued
with respect to bond authority exchanged,
before April 16, 2017, if the commitments
to provide financing or issue mortgage
credit certificates are made on or before
May 16, 2017.
.03 Except as provided in section 6.04,
issuers must use the nationwide average
purchase price limitation contained in this
revenue procedure for commitments to
provide financing or issue mortgage credit
certificates that are made, or (if the pur-
chase precedes the commitment) for resi-
dences that are purchased, in the period
that begins on March 17, 2017, and ends
on the date when the nationwide average
purchase price limitation is rendered ob-
solete by a new revenue procedure.
.04 Notwithstanding sections 5 and
6.03 of this revenue procedure, issuers
may continue to rely on the nationwide
average purchase price set forth in Rev.
Proc. 2016 –25 with respect to bonds sold,
or for mortgage credit certificates issued
with respect to bond authority exchanged,
before April 16, 2017, if the commitments
to provide financing or issue mortgage
credit certificates are made on or before
May 16, 2017.
SECTION 7. PAPERWORK
REDUCTION ACT
The collection of information con-
tained in this revenue procedure has been
reviewed and approved by the Office of
Management and Budget in accordance
with the Paperwork Reduction Act (44
U.S.C. 3507) under control number 1545-
1877.
An agency may not conduct or spon-
sor, and a person is not required to re-
spond to, a collection of information un-
less the collection of information displays
a valid OMB control number.
This revenue procedure contains a col-
lection of information requirement in
section 3.03. The purpose of the collection
of information is to verify the applicable
FHA loan limit that issuers of qualified
mortgage bonds and qualified mortgage
certificates have used to calculate the av-
erage area purchase price for a given met-
ropolitan statistical area for purposes of
sections 143(e) and 25(c). The collection
of information is required to obtain the
benefit of using revisions to FHA loan
limits to determine average area purchase
prices. The likely respondents are state
and local governments.
The estimated total annual reporting
and/or recordkeeping burden is: 15 hours.
The estimated annual burden per respon-
dent and/or recordkeeper: 15 minutes.
The estimated number of respondents
and/or recordkeepers: 60.
Books or records relating to a collec-
tion of information must be retained as
long as their contents may become mate-
rial in the administration of any internal
revenue law. Generally tax returns and tax
return information are confidential, as re-
quired by 26 U.S.C. 6103.
April 3, 2017Bulletin No. 2017–14
1060

SECTION 8. DRAFTING
INFORMATION
The principal authors of this revenue
procedure are David White and Timothy
Jones of the Office of Associate Chief
Counsel (Financial Institutions & Prod-
ucts). For further information regarding
this revenue procedure contact David
White on (202) 317-4562 (not a toll-free
number).
26 CFR 31.6402(a)–2. Credit or refund of tax under
Federal Insurance Contributions Act or Railroad
Retirement Tax Act.
(Also: 3101, 3111, 3201, 3221, 6001, 6065, and
6402)
REV. PROC. 2017–28
SECTION 1. PURPOSE
.01 The purpose of this revenue proce-
dure is to provide guidance to employers
on the requirements for employee consent
used by an employer to support a claim
for credit or refund
1
of overpaid taxes
under the Federal Insurance Contributions
Act (FICA) and the Railroad Retirement
Tax Act (RRTA) pursuant to § 6402 of the
Internal Revenue Code and § 31.6402(a)–2
of the Employment TaxRegulations. FICA
taxes include the old-age, survivors, and
disability insurance taxes imposed on em-
ployees under § 3101(a) and on employers
under § 3111(a) (also known as social secu-
rity taxes) and the hospital insurance tax
imposed on employees under §3101(b) and
on employers under § 3111(b) (also
known as Medicare taxes). Under RRTA,
railroad employment is subject to a sys-
tem of taxes separate and distinct from the
taxes imposed under FICA, which covers
most other employees. Tier 1 RRTA
taxes, imposed under §§ 3201(a), 3211(a),
and 3221(a), provide benefits equivalent
to social security and Medicare benefits.
.02 This revenue procedure clarifies the
basic requirements for both a request for
employee consent and for the employee
consent, including the requirement that an
employee consent must include the basis
for the claim for refund and be signed by
the employee under penalties of perjury.
In addition, this revenue procedure per-
mits, but does not require, employee con-
sent to be requested, furnished, and retained
in an electronic format as an alternative to a
paper format. It also contains guidance con-
cerning what constitutes “reasonable ef-
forts” if employee consent is not secured in
order to permit the employer to claim a
refund of the employer share of overpaid
FICA or RRTA taxes.
SECTION 2. PRINCIPAL CHANGES
FROM DRAFT REVENUE
PROCEDURE
.01 In Notice 2015–15, 2015–9 I.R.B.
687, the Internal Revenue Service (IRS)
asked for comments concerning a pro-
posed revenue procedure (included in the
notice) providing guidance to employers
on employee consents used to support a
claim for refund for overpaid FICA and
RRTA taxes. After considering the public
comments, this revenue procedure adopts
the proposed revenue procedure with cer-
tain minor changes. Some commentators
asked that the amount of time afforded an
employee to respond to a request for con-
sent be reduced from 45 to 21 days. This
revenue procedure does not reduce the
time period because the IRS is concerned
that 21 days may not be a sufficient
amount of time for an employee to con-
sider and respond to a request for consent.
However, in response to these comments,
this revenue procedure shortens the time
to respond to a second request for consent
from 45 to 21 days. Other commentators
expressed concerns about identity theft,
requesting clarification whether a truncated
taxpayer identification number (TTIN)
might be used in a consent. Inresponse to
these comments, this revenue procedure
permits the use of a TTIN in place of the
complete social security number (SSN) of
the employee if the employer prepares a
consent for the employee to sign and pre-
populates the employee’s taxpayer identi-
fication number with the TTIN. A TTIN
may not be used if the employer merely
requests that the employee provide an
SSN as the employee’s taxpayer identifi-
cation number or if the employee fur-
nishes the number via the consent.
2
.02 This revenue procedure also adds a
new requirement that all requests for con-
sent must indicate that an employee can-
not authorize the employer to claim a re-
fund on the employee’s behalf for any
overpaid Additional Medicare Tax.Seesec-
tion 3.02 of this revenue procedure for an
explanation of Additional Medicare Tax.
SECTION 3. SCOPE
.01 This revenue procedure applies to
employee consents that are used by an
employer to support a claim for refund of
overpaid FICA or RRTA taxes. Section
31.6402(a)–2 provides rules under which
a refund claim for an overpayment of
FICA or RRTA tax may be made. For
ease of reading, the remainder of the rev-
enue procedure will discuss FICA taxes
and wages, but this revenue procedure
applies equally to RRTA taxes and RRTA
compensation. However, any references
to Medicare tax or FICA tax in this reve-
nue procedure do not include Additional
Medicare Tax imposed by § 3101(b)(2).
.02 Under § 3102(f), an employer is re-
sponsible for withholding the 0.9% Addi-
tional Medicare Tax from the wages it pays
to an employee in excess of$200,000 in a
calendar year. However, under § 31.6402(a)–
2(a)(1)(iii), employers may claim a refund
of overpaid Additional Medicare Tax only
if the employer did not withhold the over-
paid Additional Medicare Tax from the
employee’s wages. An employee may
claim a refund of overpaid Additional
Medicare Tax on Form 1040, U.S. Indi-
vidual Income Tax Return, or, if the em-
ployee has previously filed Form 1040 for
the year, on Form 1040X, Amended U.S.
Individual Income Tax Return. Since em-
ployees may not be aware that a refund
will not include overpaid Additional
Medicare Tax, any employer request for
consent must clearly inform the employee
that the employee cannot authorize the
employer to claim a refund on the em-
ployee’s behalf for any overpaid Addi-
tional Medicare Tax.Seesection 6.01 of
this revenue procedure.
1
For ease of reading, the revenue procedure will refer to “claim,” “claim for refund,” or “refund claim” interchangeably, and these terms will includea claim for credit.
2
Some of the comments received were beyond the scope of this revenue procedure and are not addressed in this revenue procedure. Specifically, several commentators requested guidance
on when consent is required under certain identified fact patterns, rather than addressing the required content of a request for consent or the employee consent. Those comments may be
addressed in future guidance.
Bulletin No. 2017–14April 3, 2017
1061

SECTION 4. TERMS
Forpurposesofthisrevenue
procedure-
.01 “Written statement” means a state-
ment required by § 31.6402(a)–2(a)(2)(ii)
with respect to amounts collected in a year
prior to the calendar year in which the
refund is claimed, certifying that the em-
ployee has not made any previous claims
(or the claims were rejected) and will not
make any future claims for refund of the
amount of the overcollection.
.02 “Email address” refers to any em-
ployee email address on an employer-
provided email network provided to its
employee in the regular course of busi-
ness. Email address also includes a per-
sonal email address if it is the most recent
personal email address provided by the
employee to the employer that is main-
tained in an employer’s personnel records
in the regular course of business. It does
not include an email address obtained
from a third-party source other than one
obtained from an authorized representa-
tive of the employee.
.03 “Employee” includes both current
and former employees.
.04 “Last known address” means the
employee’s address of record in the em-
ployer’s personnel records, or as updated
by any notification of change of address
from the United States Postal Service.
.05 “Signature” includes an original,
facsimile (fax), or other electronic signa-
ture. A fax signature may be transmitted
either online or telephonically (e.g., deliv-
ered via traditional fax machine). An elec-
tronic signature must meet the require-
ments stated in section 7 of this revenue
procedure, as modified by any IRS guid-
ance published in the Internal Revenue
Bulletin (IRS published guidance), publi-
cations, forms or instructions.
.06 “Truncated taxpayer identification
number” (TTIN) refers to a taxpayer iden-
tification number in which the first five
digits of the nine-digit number are re-
placedwithXsorasterisks.See
§ 301.6109 – 4(a). A TTIN replacing an
SSN appears in the form XXX–XX–1234
or ***–**–1234.
SECTION 5. BACKGROUND
.01 In general, employers may choose
to correct FICA tax overpayment errors
either by making an interest-free adjust-
ment or filing a claim for refund. Section
31.6402(a)–2 provides rules under which
a refund claim for an overpayment of
FICA tax may be made. The claim must
be filed on the form prescribed by the IRS
and must designate the return period to
which the claim relates, explain in detail
the grounds and facts relied upon to sup-
port the claim, and set forth such other
information as may be required by
§ 31.6402(a)–2 and by the instructions
relating to the form used to make the
claim. Employers use the employment tax
“X” form (e.g., Form 941–X, Adjusted
Employer’s QUARTERLY Federal Tax
Return or Claim for Refund) correspond-
ing to the employment tax return filed
(e.g., Form 941, Employer’s QUAR-
TERLY Federal Tax Return) to claim re-
funds. For examples showing how an em-
ployer corrects employment tax reporting
errors using the claim process, see Rev.
Rul. 2009 –39, 2009 –52 I.R.B. 951.
.02 An employer may not receive a
refund of the employer share of overpaid
FICA tax without making reasonable ef-
forts to protect its employees’ interests.
See§ 31.6402(a)–2; Rev. Rul. 81–310,
1981–2 C.B. 241;Atlantic Department
Stores, Inc. v. United States, 557 F.2d 957
(2d Cir. 1977). If taxes were withheld
from an employee, the employer has a
duty to make reasonable efforts to protect
the employee’s interests in any employee
share of the refund. Section 31.6402(a)–
2(a)(1)(ii) specifically provides that no re-
fund for the employer share of the over-
paid FICA taxes will be allowed unless
the employer has first repaid or reim-
bursed its employee or has secured the
employee’s consent to the allowance of
the claim for refund and includes a claim
for the refund of the employee share.
However, this requirement does not apply
to the extent that the taxes were not with-
held from the employee or, after the em-
ployer makes reasonable efforts to repay
or reimburse the employee or secure the
employee’s consent, the employer cannot
locate the employee or the employee will
not provide consent.
.03 Under § 31.6402(a)–2(a)(2), every
employer that files a claim for refund of
the employee share of overpaid FICA tax
is required to certify, as part of the claim
process, that the employer has repaid or
reimbursed the employee share of the
overpayment of FICA tax to the employee
or has secured the written consent of the
employee to allowance of the filing of
the claim for refund, except to the extent
taxes were not withheld from the em-
ployee. For refund claims for employee
tax overcollected in prior years, the em-
ployer must also certify that it has ob-
tained the employee’s written statement
confirming that the employee has not
made any previous claims (or the claims
were rejected) and will not make any fu-
ture claims for refund of the amount of the
overcollection.
.04 If after reasonable efforts the em-
ployer cannot locate the employee or the
employee will not provide the requested
consent, the employer may file a claim for
refund for only the employer share of the
FICA taxes.See§ 31.6402(a)–2(a)(1)(ii)
and Rev. Rul. 81–310.
.05 UnderChicago Milwaukee Corp. v.
United States, 40 F.3d 373 (Fed. Cir.
1994), an employer need not repay or
reimburse its employees or obtain the em-
ployees’ consents for the filing of a refund
claim prior to filing the claim in order for
the claim to be valid. However, the em-
ployer must repay or reimburse its employ-
ees or obtain the employees’ consents (sub-
ject to the exceptions under § 31.6402(a)–
2(a)(1)(ii)) before the IRS may grant the
claim.
.06 If an employer files a claim for
refund based on a certification that con-
sents were secured from the employees,
and the IRS grants the refund, the IRS will
refund the taxes (including any applicable
interest paid pursuant to § 6611) to the
employer, which must then give each em-
ployee his or her share of the refund.
.07 Under § 31.6402(a)–2(a)(2)(i), the
employer must retain each employee’s
consent (including any required written
statement) as part of the employer’s re-
cords.
.08 Section 6061 provides that any re-
turn, statement, or other document re-
quired to be made under any provision of
the Code or regulations be signed in ac-
cordance with forms or regulations pre-
scribed by the Secretary. Section 6065
requires that, except as otherwise pro-
vided by the Secretary, any such docu-
ment must contain or be verified by a
written declaration that it is made under
April 3, 2017Bulletin No. 2017–14
1062

the penalties of perjury. To facilitate tax-
payers’ compliance with the verification
requirement of § 6065, the IRS has long
provided that an acceptable “penalties of
perjury statement” should be located im-
mediately above the required signature
and include substantially the following
language: “I declare, under penalties of
perjury, that I have examined the above
statements and information and to the best
of my knowledge and belief they are true,
correct, and complete.”
.09 Under § 31.6001–1 and § 31.6001–2,
an employer that claims arefund must re-
tain a complete and detailed record with
respect to the tax to which the claim re-
lates, including a copy of any statement or
other documents, for as long as the con-
tents of the statement or document may
become material in the administration of
any internal revenue law, but in no event
for less than four years after the date the
claim is filed.
SECTION 6. REQUIREMENTS FOR
A REQUEST FOR CONSENT AND
REQUIREMENTS FOR AN
EMPLOYEE CONSENT
.01 The request for consent must
clearly inform the employee of the pur-
pose of the employee consent. It must
provide a name and contact information
for any questions by the employee and
must give a reasonable period of time to
respond, which period shall not be less
than 45 days from the date of the request.
A request for consent may include an ex-
press presumption that if an employee’s
response has not been received by the
employer during this time period, the em-
ployee will be considered to have refused
to provide the employee consent; how-
ever, a failure to respond may not be
deemed consent. A request for consent
may also include a request that the em-
ployee keep the employer informed about
any change in the employee’s mailing ad-
dress or email address. The request for
consent must clearly state that the em-
ployer will repay or reimburse the em-
ployee share of the overpayment (plus any
interest allocable to the employee share)
to the extent the overpayment (plus allo-
cable interest) is refunded by the IRS.
Finally, all requests for consent must in-
dicate that an employee cannot authorize
the employer to claim a refund on the em-
ployee’s behalf for any overpaid Additional
Medicare Tax, regardless of whether Addi-
tional Medicare Tax was withheld from the
employee; the following language may be
used in any request for consent to meet this
requirement:
“You cannot authorize us to claim a
refund on your behalf for any over-
paid Additional Medicare Tax, and
our claim will not include a claim
for Additional Medicare Tax with-
held from employees. Additional
Medicare Tax (0.9%) applies to
wages, railroad retirement (RRTA)
compensation, and self-employment
income (together with that of your
spouse if filing a joint return) that
are more than:
$125,000 if married filing sepa-
rately,
$250,000 if married filing jointly,
or
$200,000 for any other filing status.
If, as a result of our refund claim,
your wages are adjusted, you may
also be able to claim a refund for
Additional Medicare Tax. For more
information on the Additional Medi-
care Tax, see the Instructions for
Form 8959.”
.02 A request for consent may be so-
licited on paper or in an electronic format.
The employer may furnish a paper request
for consent by personal delivery or by mail
to the employee’s last known address using
the United States Postal Service or a desig-
nated delivery service under § 7502(f). An
electronic request for consent may be sent to
the employee’s email address in accordance
with section 7 of this revenue procedure.
.03 An employee consent must meet
the following requirements:
(1) Contain the name, address, and tax-
payer identification number of the em-
ployee;
(2) Contain the name, address, and em-
ployer identification number of the em-
ployer;
(3) Contain the tax period(s), type of
tax (e.g., social security and Medicare
taxes), and the amount of tax for which
the employee consent is provided;
(4) Affirmatively state that the em-
ployee authorizes the employer to claim a
refund for the overpayment of the em-
ployee share of tax;
(5) For refund claims for employee tax
overcollected in prior years, include the
employee’s written statement;
(6) Identify the basis of the claim (e.g.,
request for refund of the social security
and Medicare taxes withheld with regard
to excess transit benefits provided in 2014
due to a retroactive legislative change);
and
(7) Be dated and contain the employ-
ee’s signature under penalties of perjury.
The penalties of perjury statement should
be located immediately above the required
signature.
.04 The employer may use a TTIN on
an employee consent as the employee’s
taxpayer identification number, in place of
the complete SSN of the employee, if the
employer prepares the consent for the em-
ployee to sign and prepopulates the em-
ployee’s taxpayer identification number
with the TTIN. The use of a TTIN is not
permitted if the employer requests that the
employee provide an SSN as the employ-
ee’s taxpayer identification number or if
the employee furnishes the number via the
consent.
.05 An employer must retain all re-
quests for consent, employee consents (in-
cluding any required written statement),
and employees’ responses (indicating that
the employee does not authorize the em-
ployer to claim a refund of FICA taxes on
his or her behalf), as long as their contents
may be material in the administration of
any internal revenue law, but in no event
for less than four years after the date the
claim is filed. These documents are not
submitted with the claim for refund, but
copies must be submitted to the IRS if
requested.
SECTION 7. ELECTRONIC
COMMUNICATIONS, EMPLOYEE
CONSENTS, AND RECORD
RETENTION PERMITTED
.01 This revenue procedure permits an
employer to establish a system to request,
furnish, and retain employee consents in
an electronic format, including permitting
employees to submit employee consent by
fax. It also permits the retention in an
electronic format of requests for consent
and employee consents submitted in a pa-
per format. The rules for furnishing and
retaining employee consents also apply to
an employee’s response indicating that the
Bulletin No. 2017–14April 3, 2017
1063

employee does not authorize the employer
to claim a refund of FICA taxes on his or
her behalf. Electronic information ob-
tained under this revenue procedure is
subject to the basic requirements for re-
cord retention set forth in Rev. Proc. 97–
22, 1997–1 C.B. 652, Rev. Proc. 98 –
25,1998 –1 C.B. 689, and any subsequent
IRS published guidance, publications,
forms or instructions.
.02 The electronic system must be rea-
sonably accessible to the employee and
must be reasonably designed to preclude
anyone other than the employee from giv-
ing the employee consent. It must provide
the electronic request for consent to the
employee in a manner no less understand-
able than a written paper document.
.03 Any electronic system used for pur-
poses of obtaining employee consent must
inform the employee that by signing the
employee consent the employee is making
the required declaration contained in the
penalties of perjury statement.
.04 Electronic records and signatures
are given the same legal effect as their
paper counterparts. Any signature should
be located immediately below the re-
quired penalties of perjury statement. Un-
til further guidance is published, an elec-
tronic signature that meets the following
requirements is acceptable:
(1) A person (i.e.,the signer) must use
an acceptable electronic form of signa-
ture; for purposes of this revenue proce-
dure,this includes a typed name that is
within or at the end of an electronic record,
such as typed into a signature block, or as
otherwise identified in IRS published guid-
ance, publications, forms, or instructions;
(2) The electronic form of signature
must be executed or adopted by a person
with the intent to sign the electronic re-
cord (e.g.,to indicate a person’s approval
of the information contained in the elec-
tronic record);
(3) The electronic form of signature
must be attached to or associated with the
electronic record being signed;
(4) There must be a means to identify
and authenticate a particular person as the
signer; and
(5) There must be a means to preserve the
integrity of the signed electronic record.
.05 No employee may be required to
provide an employee consent in an elec-
tronic format. Thus, the employee must be
given the option to provide the employee
consent in a paper format. Upon request, the
employer must provide a paper copy of any
electronic communications to the employee,
including the request for consent.
.06 Upon request by the IRS, the em-
ployer must supply to the IRS a hard copy
of the electronic employee consent or a
response indicating that the employee was
not authorizing the employer to claim a
refund of FICA taxes on his or her behalf.
The employer must include a statement
that, to the best of the employer’s knowl-
edge and belief, the electronic employee
consent or response was furnished by the
named employee.
SECTION 8. REASONABLE
EFFORTS
.01 Generally, if the employer has not
repaid or reimbursed an employee, a re-
fund for the employer share of the over-
paid FICA taxes will not be allowed un-
less the employer has both secured the
employee’s consent and included a claim
for the refund of the employee share.
However, these requirements do not apply
to the extent that the taxes were not with-
held from an employee or, after the em-
ployer makes reasonable efforts to repay
or reimburse the employee or secure the
employee’s consent, the employer cannot
locate the employee or the employee will
not provide consent. The employer can
show that the employee will not provide
the requested consent if the employee
does not respond to the employer’s re-
quest for consent or if the employee pro-
vides a response that indicates that the
employee does not authorize the employer
to claim a refund of FICA taxes on his or
her behalf.
.02 The employer will be deemed to
have made reasonable efforts with respect
to a request for consent if:
(1) The employer properly requests
consent of the employee as provided in
this revenue procedure;
(2) A request for consent sent electron-
ically provides for an acknowledgement
of receipt of the email message. The re-
quest must specifically ask the employee
to acknowledge receipt of the request for
consent (e.g., by clicking on a voting but-
ton (YES) or by sending a reply message
to the employer). A read-receipt message
is not sufficient;
(3) The employer retains: (a) the record
of mailing the request for consent; (b) the
record of emailing the request for consent
(including any acknowledgement of re-
ceipt of the email message); (c) the record
of personal delivery to the employee who
does not furnish an employee consent; or
(d) the employee’s response indicating
that the employee was not authorizing the
employer to claim a refund of FICA taxes
on his or her behalf;
(4) In the event a mailing is undeliver-
able, the employer makes a good faith
attempt to determine the employee’s cur-
rent address and, if a new address is dis-
covered, the employer delivers a request
for consent in a paper format to the new
address or delivers a request for consent
by email or by personal delivery, giving
the employee not less than 21 days from
the date of the second request to reply;
and
(5) In the event of an email delivery
failure (e.g., the employer is notified that
the message the employer tried to send did
not reach the employee because of a prob-
lem with the email address) or in the event
that the employee does not acknowledge
receipt of the email message, the em-
ployer mails a request for consent in a
paper format to the employee’s last
known address or provides a request for
consent to the employee by personal de-
livery giving the employee not less than
21 days from the date of the second re-
quest to reply.
SECTION 9. EFFECTIVE DATE
.01 This revenue procedure applies to
employee consents requested on or after
June 5, 2017.It does not require employ-
ers to solicit new employee consents and
will not affect the validity of any em-
ployee consent received pursuant to a re-
quest made prior to June 5, 2017, that was
provided in accordance with the require-
ments in § 31.6402(a)–2.
.02 Employers may rely on the pro-
posed revenue procedure set forth in No-
tice 2015–15 for employee consents re-
quested before June 5, 2017.
SECTION 10. PAPERWORK
REDUCTION ACT
An agency may not conduct or spon-
sor, and a person is not required to re-
April 3, 2017Bulletin No. 2017–14
1064

spond to, a collection of information un-
less the collection of information displays
a valid Office of Management and Budget
(OMB) control number. This revenue pro-
cedure does not impose any new informa-
tion collection burden. The collection of
information contained in this revenue pro-
cedure is in § 31.6402(a)–2 of the regula-
tions which has been previously approved
by the OMB under control number 1545–
2097 and in the existing claim forms (e.g.,
Forms 941–X, 941–X(PR), 943–X, 943–
X(PR), 944 –X, 944 –X(SP), and CT-1X).
The collection of information is re-
quired to obtain a refund of FICA taxes.
The likely respondents are employers and
employees. Books or records relating to a
collection of information must be retained
as long as their contents may become ma-
terial in the administration of any internal
revenue law, but in no event for less than
four years after the date the claim is filed.
Generally, tax returns and tax return in-
formation are confidential, as required by
§ 6103.
SECTION 11. DRAFTING
INFORMATION
For further information regarding
this revenue procedure, contact Cynthia
McGreevy of the Office of the Associate
Chief Counsel (Tax Exempt and Govern-
ment Entities) at 202-317-4774 (not a toll-
free number).
Rev. Proc. 2017–29
SECTION 1. PURPOSE
This revenue procedure provides: (1)
tables of limitations on depreciation de-
ductions for owners of passenger automo-
biles first placed in service by the taxpayer
during calendar year 2017, including sep-
arate tables of limitations on depreciation
deductions for trucks and vans; and (2)
tables of amounts that must be included in
income by lessees of passenger automo-
biles first leased by the taxpayer during
calendar year 2017, including a separate
table of inclusion amounts for lessees of
trucks and vans. The tables detailing
these depreciation limitations and lessee
inclusion amounts reflect the automobile
price inflation adjustments required by
§ 280F(d)(7).
SECTION 2. BACKGROUND
.01 For owners of passenger automo-
biles, § 280F(a) imposes dollar limitations
on the depreciation deduction for the year
the taxpayer places the passenger automo-
bile in service and for each succeeding
year. For passenger automobiles placed in
service after 1988, § 280F(d)(7) requires
the Internal Revenue Service to increase
the amounts allowable as depreciation de-
ductions by a price inflation adjustment
amount. The method of calculating this
price inflation amount for trucks and vans
placed in service in or after calendar year
2003 uses a different CPI “automobile
component” (the “new trucks” compo-
nent) than that used in the price inflation
amount calculation for other passenger
automobiles (the “new cars” component),
resulting in somewhat higher depreciation
deductions for trucks and vans. This
change reflects the higher rate of price
inflation for trucks and vans since 1988.
.02 Section 168(k)(1) provides that, in
the case of qualified property, the depre-
ciation deduction allowed under § 167(a)
for the taxable year in which the property
is placed in service includes an allowance
equal to 50 percent of the property’s ad-
justed basis (hereinafter, referred to as
Ҥ 168(k) additional first year depreciation
deduction”). The § 168(k) additional first
year depreciation deduction generally applies
to qualified property placed in servicebefore
January 1, 2020. Section 168(k)(2)(F)(i) and
(iii) increases the first year depreciation al-
lowed under § 280F(a)(1)(A)(i) by $8,000
for passenger automobiles placed in service
by the taxpayer before January 1, 2018, and
to which the § 168(k) additional first year
depreciation deduction applies.
.03 Tables 1 through 4 of this revenue
procedure provide depreciation limita-
tions for passenger automobiles placed in
service during calendar year 2017. Table 1
(passenger automobiles that are not trucks
or vans) and Table 2 (trucks and vans)
provide depreciation limitations for pas-
senger automobiles for which the § 168(k)
additional first year depreciation deduc-
tion applies. Table 3 (passenger automo-
biles that are not trucks or vans) and Table
4 (trucks and vans) provide depreciation
limitations for passenger automobiles for
which the § 168(k) additional first year
depreciation deduction does not apply.
The § 168(k) additional first year depre-
ciation deduction does not apply for 2017
if the taxpayer: (1) acquired the passenger
automobile used; (2) did not use the pas-
senger automobile during 2017 more than
50 percent for business purposes; (3)
elected out of the § 168(k) additional first
year depreciation deduction pursuant to
§ 168(k)(7); or (4) elected to increase the
alternative minimum tax (AMT) credit
limitation under § 53, instead of claiming
the § 168(k) additional first year depreci-
ation deduction, for qualified property
placed in service during 2017 pursuant to
§ 168(k)(4).
.04 Section 280F(c)(2) requires a reduc-
tion in the deduction allowed to the lessee of
a leased passenger automobile. The reduc-
tion must be substantially equivalent to the
limitations on the depreciation deductions
imposed on owners of passenger automo-
biles. Under § 1.280F–7(a) of the Income
Tax Regulations, this reduction requires a
lessee to include in gross income an amount
determined by applying a formula to the
amount obtained from a table. Table 5 ap-
plies to lessees of passenger automobiles
that are not trucks and vans and Table 6
applies to lessees of trucks and vans. Each
table shows inclusion amounts for a range
of fair market values for each taxable year
after the passenger automobile is first
leased.
SECTION 3. SCOPE
.01 The limitations on depreciation de-
ductions in section 4.01(2) of this revenue
procedure apply to passenger automobiles
(other than leased passenger automobiles)
that are placed in service by the taxpayer
in calendar year 2017, and continue to
apply for each taxable year that the pas-
senger automobile remains in service.
.02 The tables in section 4.02 of this
revenue procedure apply to leased passen-
ger automobiles for which the lease term
begins during calendar year 2017. Lessees
of these passenger automobiles must use
these tables to determine the inclusion
amount for each taxable year during
which the passenger automobile is leased.
See Rev. Proc. 2012–23, 2012–14 I.R.B.
712, for passenger automobiles first leased
during calendar year 2012; Rev. Proc.
2013–21, 2013–12 I.R.B. 660, for passen-
ger automobiles first leased during calen-
dar year 2013; Rev. Proc. 2014 –21,
Bulletin No. 2017–14April 3, 2017
1065

2014 –11 I.R.B. 641, as amplified and
modified by section 4.03 of Rev. Proc.
2015–19, 2015– 8 I.R.B. 656, for passen-
ger automobiles first leased during calen-
dar year 2014; Rev. Proc. 2015–19, as
amplified and modified by section 4.03 of
Rev. Proc. 2016 –23, 2016 –16 I.R.B. 581,
for passenger automobiles first leased dur-
ing calendar year 2015, and Rev. Proc.
2016 –23 for passenger automobiles first
leased during calendar year 2016.
SECTION 4. APPLICATION
.01Limitations on Depreciation
Deductions for Certain Automobiles.
(1)Amount of the inflation adjustment.
(a)Passenger automobiles (other than
trucks or vans). Under §280F(d)(7)(B)(i),
the automobile price inflation adjustment
for any calendar year is the percentage (if
any) by which the CPI automobile com-
ponent for October of the preceding cal-
endar year exceeds the CPI automobile
component for October 1987. Section
280F(d)(7)(B)(ii) defines the term “CPI
automobile component” as the automobile
component of the Consumer Price Index
for all Urban Consumers published by the
Department of Labor. The new car com-
ponent of the CPI was 115.2 for October
1987 and 143.032 for October 2016. The
October 2016 index exceeded the October
1987 index by 27.832. Therefore, the au-
tomobile price inflation adjustment for
2017 for passenger automobiles (other
than trucks and vans) is 24.2 percent
(27.832/115.2 x 100%). The dollar limita-
tions in § 280F(a) are multiplied by a
factor of 0.242, and the resulting in-
creases, after rounding to the nearest
$100, are added to the 1988 limitations to
give the depreciation limitations applica-
ble to passenger automobiles (other than
trucks and vans) for calendar year 2017.
This adjustment applies to all passenger
automobiles (other than trucks and vans)
that are first placed in service in calendar
year 2017.
(b)Trucks and vans. To determine
the dollar limitations for trucks and vans
first placed in service during calendar year
2017, the Service uses the new truck com-
ponent of the CPI instead of the new car
component. The new truck component of
the CPI was 112.4 for October 1987 and
156.189 for October 2016. The October
2016 index exceeded the October 1987
index by 43.789. Therefore, the automo-
bile price inflation adjustment for 2017 for
trucks and vans is 39.0 percent (43.789/
112.4 x 100%). The dollar limitations in
§ 280F(a) are multiplied by a factor of
0.390, and the resulting increases, after
rounding to the nearest $100, are added to
the 1988 limitations to give the deprecia-
tion limitations applicable to trucks and
vans. This adjustment applies to all trucks
and vans that are first placed in service in
calendar year 2017.
(2)Amount of the limitation. Tables 1
and 2 contain the dollar amount of the
depreciation limitation for each taxable
year for passenger automobiles a taxpayer
places in service in calendar year 2017.
Use Table 1 for a passenger automobile
(other than a truck or van), and Table 2 for
a truck or van, placed in service in calen-
dar year 2017 for which the § 168(k)
additional first year depreciation deduc-
tion applies. Use Table 3 for a passenger
automobile (other than a truck or van),
and Table 4 for a truck or van, placed in
service in calendar year 2017 for which
the § 168(k) additional first year depreci-
ation deduction does not apply.
REV. PROC. 2017–29 TABLE 1
DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS)
PLACED IN SERVICE IN CALENDAR YEAR 2017 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR
DEPRECIATION DEDUCTION APPLIES
Tax YearAmount
1st Tax Year$ 11,160
2nd Tax Year$ 5,100
3rd Tax Year$ 3,050
Each Succeeding Year$ 1,875
REV. PROC. 2017–29 TABLE 2
DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2017
FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION APPLIES
Tax YearAmount
1st Tax Year$ 11,560
2nd Tax Year$ 5,700
3rd Tax Year$ 3,450
Each Succeeding Year$ 2,075
April 3, 2017Bulletin No. 2017–14
1066

REV. PROC. 2017–29 TABLE 3
DEPRECIATION LIMITATIONS FOR PASSENGER AUTOMOBILES (THAT ARE NOT TRUCKS OR VANS)
PLACED IN SERVICE IN CALENDAR YEAR 2017 FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR
DEPRECIATION DEDUCTION DOES NOT APPLY
Tax YearAmount
1st Tax Year$ 3,160
2nd Tax Year$ 5,100
3rd Tax Year$ 3,050
Each Succeeding Year$ 1,875
REV. PROC. 2017–29 TABLE 4
DEPRECIATION LIMITATIONS FOR TRUCKS AND VANS PLACED IN SERVICE IN CALENDAR YEAR 2017
FOR WHICH THE § 168(k) ADDITIONAL FIRST YEAR DEPRECIATION DEDUCTION DOES NOT APPLY
Tax YearAmount
1st Tax Year$ 3,560
2nd Tax Year$ 5,700
3rd Tax Year$ 3,450
Each Succeeding Year$ 2,075
.02Inclusions in Income of Lessees of
Passenger Automobiles.
A taxpayer must follow the procedures in
§ 1.280F–7(a) for determining the inclusion
amounts for passenger automobiles first
leased in calendar year 2017. In applying
these procedures, lessees of passenger auto-
mobiles other than trucks and vans should
use Table 5 of this revenue procedure, while
lessees of trucks and vans should use Table
6 of this revenue procedure.
REV. PROC. 2017–29 TABLE 5
DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES
(THAT ARE NOT TRUCKS OR VANS)
WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2017
Fair Market Value of
Passenger AutomobileTax Year During Lease
OverNot Over1
st
2
nd
3
rd
4
th
5
th
& later
$19,000$19,500614202327
19,50020,000716232731
20,00020,500818263035
20,50021,000920283539
21,00021,5001021323844
21,50022,0001123354247
22,00023,0001227394753
23,00024,0001431455462
24,00025,0001634526170
25,00026,0001838586878
26,00027,0001943637587
27,00028,0002147698295
28,00029,00023517589103
29,00030,00025558097112
30,00031,000275887104120
31,00032,000296293111128
32,00033,000306799118136
Bulletin No. 2017–14April 3, 2017
1067

REV. PROC. 2017–29 TABLE 5
DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES
(THAT ARE NOT TRUCKS OR VANS)
WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2017
Fair Market Value of
Passenger AutomobileTax Year During Lease
OverNot Over1
st
2
nd
3
rd
4
th
5
th
& later
33,00034,0003271104126144
34,00035,0003475110133152
35,00036,0003679116140160
36,00037,0003882123147169
37,00038,0004086129154177
38,00039,0004191134161186
39,00040,0004395140168194
40,00041,0004599146175202
41,00042,00047103152182210
42,00043,00049106159189218
43,00044,00050111164197226
44,00045,00052115170204234
45,00046,00054119176211243
46,00047,00056123182218251
47,00048,00058127187225260
48,00049,00060130194232268
49,00050,00061135200239276
50,00051,00063139206246284
51,00052,00065143211254292
52,00053,00067147217261301
53,00054,00069151223268309
54,00055,00070155229275318
55,00056,00072159235282326
56,00057,00074163241289334
57,00058,00076167247296342
58,00059,00078171253303350
59,00060,00080174260310359
60,00062,00082181268321371
62,00064,00086189280335387
64,00066,00090197292349404
66,00068,00093205304364420
68,00070,00097213315379436
70,00072,000101221327393453
72,00074,000104229339407470
74,00076,000108237351421486
76,00078,000111245363436502
78,00080,000115253375450518
80,00085,000122267396474548
85,00090,000131287425511588
90,00095,000140307455546630
95,000100,000149327485581671
April 3, 2017Bulletin No. 2017–14
1068

REV. PROC. 2017–29 TABLE 5
DOLLAR AMOUNTS FOR PASSENGER AUTOMOBILES
(THAT ARE NOT TRUCKS OR VANS)
WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2017
Fair Market Value of
Passenger AutomobileTax Year During Lease
OverNot Over1
st
2
nd
3
rd
4
th
5
th
& later
100,000110,000162357530635733
110,000120,000181397589706815
120,000130,000199437649777898
130,000140,000217477708849980
140,000150,0002355177689201,062
150,000160,0002545578279911,145
160,000170,0002725978871,0621,227
170,000180,0002906379461,1341,309
180,000190,0003086771,0061,2051,391
190,000200,0003267181,0641,2771,473
200,000210,0003457571,1241,3481,556
210,000220,0003637971,1841,4191,638
220,000230,0003818371,2441,4901,721
230,000240,0003998781,3021,5621,803
240,000and over4189171,3621,6331,885
REV. PROC. 2017–29 TABLE 6
DOLLAR AMOUNTS FOR TRUCKS AND VANS
WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2017
Fair Market Value of
Truck or VanTax Year During Lease
OverNot Over1
st
2
nd
3
rd
4
th
5
th
& later
$19,500$20,00048111316
20,00020,500410141720
20,50021,000512172123
21,00021,500614202428
21,50022,000716232832
22,00023,000919273338
23,00024,0001023344046
24,00025,0001227394854
25,00026,0001431455562
26,00027,0001635516271
27,00028,0001839576979
28,00029,0001943637688
29,00030,0002147698396
30,00031,00023517590104
31,00032,00025558197112
32,00033,000275987104120
33,00034,000296393111129
34,00035,000306799119136
Bulletin No. 2017–14April 3, 2017
1069

REV. PROC. 2017–29 TABLE 6
DOLLAR AMOUNTS FOR TRUCKS AND VANS
WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2017
Fair Market Value of
Truck or VanTax Year During Lease
OverNot Over1
st
2
nd
3
rd
4
th
5
th
& later
35,00036,0003271105126145
36,00037,0003475111133153
37,00038,0003679117140161
38,00039,0003883122148169
39,00040,0004087128155177
40,00041,0004191135161186
41,00042,0004395141168194
42,00043,0004599146176203
43,00044,00047103152183211
44,00045,00049107158190219
45,00046,00050111165196228
46,00047,00052115170204236
47,00048,00054119176211244
48,00049,00056123182218252
49,00050,00058127188225261
50,00051,00060131194232269
51,00052,00061135200240277
52,00053,00063139206247285
53,00054,00065143212254293
54,00055,00067147218261301
55,00056,00069151224268309
56,00057,00070155230275318
57,00058,00072159236282326
58,00059,00074163242289335
59,00060,00076167248296343
60,00062,00079173256308355
62,00064,00082181269321372
64,00066,00086189280336388
66,00068,00090197292350404
68,00070,00093205304365420
70,00072,00097213316379437
72,00074,000101221328393453
74,00076,000104229340407470
76,00078,000108237352421487
78,00080,000111245364436503
80,00085,000118259384461532
85,00090,000127279414497573
90,00095,000136299444532614
95,000100,000145319474567656
100,000110,000159349518621717
110,000120,000177389578692800
120,000130,000195429637764882
April 3, 2017Bulletin No. 2017–14
1070

REV. PROC. 2017–29 TABLE 6
DOLLAR AMOUNTS FOR TRUCKS AND VANS
WITH A LEASE TERM BEGINNING IN CALENDAR YEAR 2017
Fair Market Value of
Truck or VanTax Year During Lease
OverNot Over1
st
2
nd
3
rd
4
th
5
th
& later
130,000140,000213470696835964
140,000150,0002325097569061,047
150,000160,0002505498169771,129
160,000170,0002685898751,0491,211
170,000180,0002866309341,1201,293
180,000190,0003056699941,1911,376
190,000200,0003237091,0541,2621,458
200,000210,0003417501,1121,3341,540
210,000220,0003597901,1721,4051,623
220,000230,0003778301,2311,4771,705
230,000240,0003968701,2901,5481,787
240,000and over4149101,3501,6191,870
SECTION 5. EFFECTIVE DATE
This revenue procedure applies to pas-
senger automobiles that a taxpayer first
places in service or first leases during cal-
endar year 2017.
SECTION 6. DRAFTING
INFORMATION
The principal author of this revenue
procedure is Bernard P. Harvey of the
Office of Associate Chief Counsel (In-
come Tax & Accounting). For further in-
formation regarding this revenue proce-
dure, contact Mr. Harvey at (202) 317-
7005 (not a toll-free number).
Bulletin No. 2017–14April 3, 2017
1071

Definition of Terms
Revenue rulings and revenue procedures
(hereinafter referred to as “rulings”) that
have an effect on previous rulings use the
following defined terms to describe the
effect:
Amplifieddescribes a situation where
no change is being made in a prior pub-
lished position, but the prior position is
being extended to apply to a variation of
the fact situation set forth therein. Thus, if
an earlier ruling held that a principle ap-
plied to A, and the new ruling holds that
the same principle also applies to B, the
earlier ruling is amplified. (Compare with
modified, below).
Clarifiedis used in those instances
where the language in a prior ruling is
being made clear because the language
has caused, or may cause, some confu-
sion. It is not used where a position in a
prior ruling is being changed.
Distinguisheddescribes a situation
where a ruling mentions a previously pub-
lished ruling and points out an essential
difference between them.
Modifiedis used where the substance
of a previously published position is being
changed. Thus, if a prior ruling held that a
principle applied to A but not to B, and the
new ruling holds that it applies to both A
and B, the prior ruling is modified because
it corrects a published position. (Compare
withamplifiedandclarified, above).
Obsoleteddescribes a previously pub-
lished ruling that is not considered deter-
minative with respect to future transac-
tions. This term is most commonly used in
a ruling that lists previously published rul-
ings that are obsoleted because of changes
in laws or regulations. A ruling may also
be obsoleted because the substance has
been included in regulations subsequently
adopted.
Revokeddescribes situations where the
position in the previously published ruling
is not correct and the correct position is
being stated in a new ruling.
Supersededdescribes a situation where
the new ruling does nothing more than
restate the substance and situation of a
previously published ruling (or rulings).
Thus, the term is used to republish under
the 1986 Code and regulations the same
position published under the 1939 Code
and regulations. The term is also used
when it is desired to republish in a single
ruling a series of situations, names, etc.,
that were previously published over a pe-
riod of time in separate rulings. If the new
ruling does more than restate the sub-
stance of a prior ruling, a combination of
terms is used. For example,modifiedand
supersededdescribes a situation where the
substance of a previously published ruling
is being changed in part and is continued
without change in part and it is desired to
restate the valid portion of the previously
published ruling in a new ruling that is
self contained. In this case, the previously
published ruling is first modified and then,
as modified, is superseded.
Supplementedis used in situations in
which a list, such as a list of the names of
countries, is published in a ruling and that
list is expanded by adding further names
in subsequent rulings. After the original
ruling has been supplemented several
times, a new ruling may be published that
includes the list in the original ruling and
the additions, and supersedes all prior rul-
ings in the series.
Suspendedis used in rare situations to
show that the previous published rulings
will not be applied pending some future
action such as the issuance of new or
amended regulations, the outcome of
cases in litigation, or the outcome of a
Service study.
Abbreviations
The following abbreviations in current
use and formerly used will appear in ma-
terial published in the Bulletin.
A—Individual.
Acq.—Acquiescence.
B—Individual.
BE—Beneficiary.
BK—Bank.
B.T.A.—Board of Tax Appeals.
C—Individual.
C.B.—Cumulative Bulletin.
CFR—Code of Federal Regulations.
CI—City.
COOP—Cooperative.
Ct.D.—Court Decision.
CY—County.
D—Decedent.
DC—Dummy Corporation.
DE—Donee.
Del. Order—Delegation Order.
DISC—Domestic International Sales Corporation.
DR—Donor.
E—Estate.
EE—Employee.
E.O.—Executive Order.
ER—Employer.
ERISA—Employee Retirement Income Security Act.
EX—Executor.
F—Fiduciary.
FC—Foreign Country.
FICA—Federal Insurance Contributions Act.
FISC—Foreign International Sales Company.
FPH—Foreign Personal Holding Company.
F.R.—Federal Register.
FUTA—Federal Unemployment Tax Act.
FX—Foreign corporation.
G.C.M.—Chief Counsel’s Memorandum.
GE—Grantee.
GP—General Partner.
GR—Grantor.
IC—Insurance Company.
I.R.B.—Internal Revenue Bulletin.
LE—Lessee.
LP—Limited Partner.
LR—Lessor.
M—Minor.
Nonacq.—Nonacquiescence.
O—Organization.
P—Parent Corporation.
PHC—Personal Holding Company.
PO—Possession of the U.S.
PR—Partner.
PRS—Partnership.
PTE
—Prohibited Transaction Exemption.
Pub. L.—Public Law.
REIT—Real Estate Investment Trust.
Rev. Proc.—Revenue Procedure.
Rev. Rul.—Revenue Ruling.
S—Subsidiary.
S.P.R.—Statement of Procedural Rules.
Stat.—Statutes at Large.
T—Target Corporation.
T.C.—Tax Court.
T.D.—Treasury Decision.
TFE—Transferee.
TFR—Transferor.
T.I.R.—Technical Information Release.
TP—Taxpayer.
TR—Trust.
TT—Trustee.
U.S.C.—United States Code.
X—Corporation.
Y—Corporation.
Z—Corporation.
Bulletin No. 2017–14April 3, 2017
i

Numerical Finding List
1
Bulletin 2017–1 through 2017–14
Action on Decision:
2017-1, 2016-7 I.R.B.868
Announcements:
2017-01, 2017-08 I.R.B.941
2017-02, 2017-10 I.R.B.1007
Notices:
2017-1, 2017-2 I.R.B.367
2017-2, 2017-4 I.R.B.539
2017-3, 2017-2 I.R.B.368
2017-4, 2017-4 I.R.B.541
2017-5, 2017-6 I.R.B.779
2017-6, 2017-3 I.R.B.422
2017-7, 2017-3 I.R.B.423
2017-8, 2017-3 I.R.B.423
2017-9, 2017-4 I.R.B.542
2017-10, 2017-4 I.R.B.544
2017-12, 2017-5 I.R.B.742
2017-13, 2017-6 I.R.B.780
2017-14, 2017-6 I.R.B.783
2017-15, 2017-6 I.R.B.783
2017-16, 2017-7 I.R.B.913
2017-18, 2017-9 I.R.B.997
2017-19, 2017-9 I.R.B.1000
2017-20, 2017-11 I.R.B.1010
2017-21, 2017-13 I.R.B.1026
2017-22, 2017-13 I.R.B.1033
Proposed Regulations:
REG-137604-07, 2017-7 I.R.B.923
REG-128276-12, 2017-2 I.R.B.369
REG-103477-14, 2017-5 I.R.B.746
REG-112324-15, 2017-4 I.R.B.547
REG-127203-15, 2017-7 I.R.B.918
REG-131643-15, 2017-6 I.R.B.865
REG-134438-15, 2017-2 I.R.B.373
REG-112800-16, 2017-4 I.R.B.569
REG-123829-16, 2017-5 I.R.B.764
REG-123841-16, 2017-5 I.R.B.766
REG-133353-16, 2017-2 I.R.B.372
REG-134247-16, 2017-5 I.R.B.744
REG-135122-16, 2017-9 I.R.B.1005
Revenue Procedures:
2017-1, 2017-1 I.R.B.1
2017-2, 2017-1 I.R.B.106
2017-3, 2017-1 I.R.B.130
2017-4, 2017-1 I.R.B.146
2017-5, 2017-1 I.R.B.230
2017-7, 2017-1 I.R.B.269
2017-12, 2017-3 I.R.B.424
2017-13, 2017-6 I.R.B.787
Revenue Procedures:—Continued
2017-14, 2017-3 I.R.B.426
2017-15, 2017-3 I.R.B.437
2017-16, 2017-3 I.R.B.501
2017-18, 2017-5 I.R.B.743
2017-19, 2017-7 I.R.B.913
2017-21, 2017-6 I.R.B.791
2017-22, 2017-6 I.R.B.863
2017-23, 2017-7 I.R.B.915
2017-24, 2017-7 I.R.B.916
2017-25, 2017-14 I.R.B.1039
2017-26, 2017-13 I.R.B.1036
2017-27, 2017-14 I.R.B.1042
2017-28, 2017-14 I.R.B.1061
2017-29, 2017-14 I.R.B.1065
Revenue Rulings:
2017-1, 2017-3 I.R.B.377
2017-2, 2017-2 I.R.B.364
2017-3, 2017-4 I.R.B.522
2017-4, 2017-6 I.R.B.776
2017-5, 2017-9 I.R.B.1000
2017-6, 2017-12 I.R.B.1011
2017-7, 2017-10 I.R.B.1009
2017-8, 2017-14 I.R.B.1037
Treasury Decisions:
9794, 2017-2 I.R.B.273
9795, 2017-2 I.R.B.326
9796, 2017-3 I.R.B.380
9801, 2017-2 I.R.B.355
9802, 2017-2 I.R.B.361
9803, 2017-3 I.R.B.384
9804, 2017-3 I.R.B.406
9806, 2017-4 I.R.B.524
9807, 2017-5 I.R.B.573
9808, 2017-5 I.R.B.580
9809, 2017-5 I.R.B.664
9810, 2017-6 I.R.B.775
9811, 2017-7 I.R.B.869
9814, 2017-7 I.R.B.878
9815, 2017-9 I.R.B.944
9817, 2017-9 I.R.B.968
1
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2016 –27 through 2016 –52 is in Internal Revenue Bulletin
2016 –52, dated December 26, 2016.
April 3, 2017Bulletin No. 2017–14
ii

Finding List of Current Actions on
Previously Published Items
1
Bulletin 2017–1 through 2017–14
Notices:
2002-1
Amplified by
Notice 2017-1, 2017-2 I.R.B.367
2010-46
Obsoleted by
Notice 2017-1, 2017-2 I.R.B.367
2016-29
Modified by
Notice 2017-6, 2017-3 I.R.B.422
Revenue Procedures:
2013-22
Clarified by
Rev. Proc. 2017-18, 2017-05 I.R.B.743
2015-57
Modified by
Rev. Proc. 2017-24, 2017-07 I.R.B.916
Treasury Decisions:
2010-46
Obsoleted by
T.D. 9815 2017-09 I.R.B.944
1
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2016 –27 through 2016 –52 is in Internal Revenue Bulletin
2016 –52, dated December 26, 2016.
Bulletin No. 2017–14April 3, 2017
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INTERNAL REVENUE BULLETIN
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