Internal Revenue Bulletin 2018-26 (PDF rendition): IRS Revenue Rulings

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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.
Administrative
Rev. Rul. 2018–18, page 758.
Interest rates: underpayments and overpayments. The rates
for interest determined under Section 6621 of the code for the
calendar quarter beginning July 1, 2018, will be 5 percent for
overpayments (4 percent in the case of a corporation), 5
percent for underpayments, and 7 percent for large corporate
underpayments. The rate of interest paid on the portion of
a corporate overpayment exceeding $10,000 will be 2.5
percent.
EXEMPT ORGANIZATIONS
Notice 2018–55, page 773.
Notice 2018-55 informs the public that the Treasury Depart-
ment and the Internal Revenue Service intend to issue pro-
posed regulations providing clarification regarding the calcula-
tion of net investment income for purposes of the section 4968
excise tax imposed on certain applicable private colleges and
universities. The notice states that affected institutions will be
able to rely on one of the described possible proposed regu-
lations, relating to a step-up in basis for determining gain upon
disposition of certain property held on December 31, 2017.
The notice also describes two other proposed regulation is-
sues, involving limitations on the use by an affected institution
of losses from sales or other dispositions of property and
offsetting overall net gains and losses among related organi-
zations and an applicable educational institution, and requests
comments on these and other questions that should be ad-
dressed in proposed regulations.
Announcement 2018–10, page 776.
Revocation of IRC 501(c)(3) Organizations for failure to meet
the code section requirements. Contributions made to the
organizations by individual donors are no longer deductible
under IRC 170(b)(1)(A).
Income Tax
Notice 2018–57, page 774.
This Notice announces that the Treasury Department and the
IRS intend to amend regulations under section 987 to delay the
applicability date of the final section 987 regulations and cer-
tain temporary section 987 regulations by 1 additional year.
Notice 2017–57, published on October 16, 2017, previously
delayed the applicability date by 1 year. The Treasury Depart-
ment and the IRS intend to amend §§1.861–9T, 1.985–5,
1.987–11, 1.987–1T through 1.987–4T, 1.987–6T, 1.987–
7T, 1.988–1, 1.988–1T, 1.988–4, and 1.989(a)–1 to provide
that the final regulations and the related temporary regulations
will apply to taxable years beginning on or after the date that is
three years after the first day of the first taxable year following
December 7, 2016.
Finding Lists begin on page ii.
Bulletin No. 2018–26
June 25, 2018

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.
June 25, 2018Bulletin No. 2018–26

Part I. Rulings and Decisions Under the Internal Revenue Code
of 1986
Section 6621.—
Determination of Rate of
Interest
26 CFR 301.6621–1: Interest rate
Rev. Rul. 2018–18
Section 6621 of the Internal Revenue
Code establishes the interest rates on
overpayments and underpayments of tax.
Under section 6621(a)(1), the overpay-
ment rate is the sum of the federal short-
term rate plus 3 percentage points (2
percentage points in the case of a corpo-
ration), except the rate for the portion of a
corporate overpayment of tax exceeding
$10,000 for a taxable period is the sum of
the federal short-term rate plus 0.5 of a
percentagepoint.Undersection
6621(a)(2), the underpayment rate is the
sum of the federal short-term rate plus 3
percentage points.
Section 6621(c) provides that for pur-
poses of interest payable under section
6601 on any large corporate underpay-
ment, the underpayment rate under section
6621(a)(2) is determined by substituting
“5 percentage points” for “3 percentage
points.” See section 6621(c) and section
301.6621–3 of the Regulations on Proce-
dure and Administration for the definition
of a large corporate underpayment and for
the rules for determining the applicable
date.Section6621(c)andsection
301.6621–3 are generally effective for pe-
riods after December 31, 1990.
Section 6621(b)(1) provides that the
Secretary will determine the federal short-
term rate for the first month in each cal-
endar quarter. Section 6621(b)(2)(A) pro-
vides that the federal short-term rate de-
termined under section 6621(b)(1) for any
month applies during the first calendar
quarter beginning after that month. Sec-
tion 6621(b)(3) provides that the federal
short-term rate for any month is the fed-
eral short-term rate determined during that
month by the Secretary in accordance
with section 1274(d), rounded to the near-
est full percent (or, if a multiple of 1/2 of
1 percent, the rate is increased to the next
highest full percent).
Notice 88 –59, 1988 –1 C.B. 546, an-
nounced that in determining the quarterly
interest rates to be used for overpayments
and underpayments of tax under section
6621, the Internal Revenue Service will
use the federal short-term rate based on
daily compounding because that rate is
most consistent with section 6621 which,
pursuant to section 6622, is subject to
daily compounding.
The federal short-term rate determined
in accordance with section 1274(d) during
April 2018 is the rate published in Reve-
nue Ruling 2018 –12, 2018 –20 IRB 575,
to take effect beginning May 1, 2018. The
federal short-term rate, rounded to the
nearest full percent, based on daily com-
pounding determined during the month of
April 2018 is 2 percent. Accordingly, an
overpayment rate of 5 percent (4 percent
in the case of a corporation) and an un-
derpayment rate of 5 percent are estab-
lished for the calendar quarter beginning
July 1, 2018. The overpayment rate for the
portion of a corporate overpayment ex-
ceeding $10,000 for the calendar quarter
beginning July 1, 2018 is 2.5 percent. The
underpayment rate for large corporate un-
derpayments for the calendar quarter be-
ginning July 1, 2018, is 7 percent. These
rates apply to amounts bearing interest
during that calendar quarter.
Sections 6654(a)(1) and 6655(a)(1)
provide that the underpayment rate estab-
lished under section 6621 applies in de-
termining the addition to tax under sec-
tions 6654 and 6655 for failure to pay
estimated tax for any taxable year. Thus,
the 5 percent rate also applies to estimated
tax underpayments for the third calendar
quarter beginning July 1, 2018. In addi-
tion, pursuant to section 6603(d)(4), the
rate of interest on section 6603 deposits is
2 percent for the third calendar quarter in
2018.
Interest factors for daily compound in-
terest for annual rates of 2.5 percent, 4
percent, 5 percent and 7 percent are pub-
lished in Tables 10, 13, 15 and 19 of Rev.
Proc. 95–17, 1995–1 C.B. 564, 567, 569
and 573.
Annual interest rates to be com-
pounded daily pursuant to section 6622
that apply for prior periods are set forth in
the tables accompanying this revenue
ruling.
DRAFTING INFORMATION
The principal author of this revenue
ruling is Casey R. Conrad of the Office of
the Associate Chief Counsel (Procedure
and Administration). For further informa-
tion regarding this revenue ruling, contact
Mr. Conrad at (202) 317-6844 (not a toll-
free number).
APPENDIX A
365 Day Year
0.5% Compound Rate 184 Days
DaysFactorDaysFactorDaysFactor
10.000013699630.0008633801250.001713784
20.000027397640.0008770911260.001727506
30.000041096650.0008908011270.001741228
40.000054796660.0009045121280.001754951
50.000068495670.0009182231290.001768673
60.000082195680.0009319341300.001782396
June 25, 2018Bulletin No. 2018–26
758

365 Day Year
0.5% Compound Rate 184 Days
DaysFactorDaysFactorDaysFactor
70.000095894690.0009456461310.001796119
80.000109594700.0009593571320.001809843
90.000123294710.0009730691330.001823566
100.000136995720.0009867811340.001837290
110.000150695730.0010004931350.001851013
120.000164396740.0010142061360.001864737
130.000178097750.0010279181370.001878462
140.000191798760.0010416311380.001892186
150.000205499770.0010553441390.001905910
160.000219201780.0010690571400.001919635
170.000232902790.0010827701410.001933360
180.000246604800.0010964841420.001947085
190.000260306810.0011101971430.001960811
200.000274008820.0011239111440.001974536
210.000287711830.0011376251450.001988262
220.000301413840.0011513391460.002001988
230.000315116850.0011650541470.002015714
240.000328819860.0011787681480.002029440
250.000342522870.0011924831490.002043166
260.000356225880.0012061981500.002056893
270.000369929890.0012199131510.002070620
280.000383633900.0012336291520.002084347
290.000397336910.0012473441530.002098074
300.000411041920.0012610601540.002111801
310.000424745930.0012747761550.002125529
320.000438449940.0012884921560.002139257
330.000452154950.0013022081570.002152985
340.000465859960.0013159251580.002166713
350.000479564970.0013296411590.002180441
360.000493269980.0013433581600.002194169
370.000506974990.0013570751610.002207898
380.0005206801000.0013707921620.002221627
390.0005343861010.0013845101630.002235356
400.0005480921020.0013982271640.002249085
410.0005617981030.0014119451650.002262815
420.0005755041040.0014256631660.002276544
430.0005892111050.0014393811670.002290274
440.0006029171060.0014531001680.002304004
450.0006166241070.0014668181690.002317734
460.0006303311080.0014805371700.002331465
470.0006440391090.0014942561710.002345195
480.0006577461100.0015079751720.002358926
490.0006714541110.0015216941730.002372657
500.0006851611120.0015354141740.002386388
510.0006988691130.0015491331750.002400120
Bulletin No. 2018–26June 25, 2018
759

365 Day Year
0.5% Compound Rate 184 Days
DaysFactorDaysFactorDaysFactor
520.0007125781140.0015628531760.002413851
530.0007262861150.0015765731770.002427583
540.0007399951160.0015902931780.002441315
550.0007537031170.0016040141790.002455047
560.0007674121180.0016177341800.002468779
570.0007811211190.0016314551810.002482511
580.0007948311200.0016451761820.002496244
590.0008085401210.0016588971830.002509977
600.0008222501220.0016726191840.002523710
610.0008359601230.001686340
620.0008496701240.001700062
366 Day Year
0.5% Compound Rate 184 Days
DaysFactorDaysFactorDaysFactor
10.000013661630.0008610201250.001709097
20.000027323640.0008746931260.001722782
30.000040984650.0008883661270.001736467
40.000054646660.0009020401280.001750152
50.000068308670.0009157131290.001763837
60.000081970680.0009293871300.001777522
70.000095632690.0009430611310.001791208
80.000109295700.0009567351320.001804893
90.000122958710.0009704091330.001818579
100.000136620720.0009840841340.001832265
110.000150283730.0009977581350.001845951
120.000163947740.0010114331360.001859638
130.000177610750.0010251081370.001873324
140.000191274760.0010387831380.001887011
150.000204938770.0010524591390.001900698
160.000218602780.0010661341400.001914385
170.000232266790.0010798101410.001928073
180.000245930800.0010934861420.001941760
190.000259595810.0011071621430.001955448
200.000273260820.0011208391440.001969136
210.000286924830.0011345151450.001982824
220.000300590840.0011481921460.001996512
230.000314255850.0011618691470.002010201
240.000327920860.0011755461480.002023889
250.000341586870.0011892231490.002037578
260.000355252880.0012029001500.002051267
270.000368918890.0012165781510.002064957
280.000382584900.0012302561520.002078646
290.000396251910.0012439341530.002092336
300.000409917920.0012576121540.002106025
June 25, 2018Bulletin No. 2018–26
760

366 Day Year
0.5% Compound Rate 184 Days
DaysFactorDaysFactorDaysFactor
310.000423584930.0012712911550.002119715
320.000437251940.0012849691560.002133405
330.000450918950.0012986481570.002147096
340.000464586960.0013123271580.002160786
350.000478253970.0013260061590.002174477
360.000491921980.0013396851600.002188168
370.000505589990.0013533651610.002201859
380.0005192571000.0013670441620.002215550
390.0005329251010.0013807241630.002229242
400.0005465941020.0013944041640.002242933
410.0005602621030.0014080851650.002256625
420.0005739311040.0014217651660.002270317
430.0005876001050.0014354461670.002284010
440.0006012691060.0014491271680.002297702
450.0006149391070.0014628081690.002311395
460.0006286081080.0014764891700.002325087
470.0006422781090.0014901701710.002338780
480.0006559481100.0015038521720.002352473
490.0006696181110.0015175331730.002366167
500.0006832891120.0015312151740.002379860
510.0006969591130.0015448971750.002393554
520.0007106301140.0015585801760.002407248
530.0007243011150.0015722621770.002420942
540.0007379721160.0015859451780.002434636
550.0007516431170.0015996281790.002448331
560.0007653151180.0016133111800.002462025
570.0007789861190.0016269941810.002475720
580.0007926581200.0016406781820.002489415
590.0008063301210.0016543611830.002503110
600.0008200031220.0016680451840.002516806
610.0008336751230.001681729
620.0008473481240.001695413
TABLE OF INTEREST RATES
PERIODS BEFORE JUL. 1, 1975 - PERIODS ENDING DEC. 31, 1986
OVERPAYMENTS AND UNDERPAYMENTS
In 1995–1 C.B.
PERIODRATEDAILY RATE TABLE
Before Jul. 1, 19756%Table 2, pg. 557
Jul. 1, 1975—Jan. 31, 19769%Table 4, pg. 559
Feb. 1, 1976—Jan. 31, 19787%Table 3, pg. 558
Feb. 1, 1978—Jan. 31, 19806%Table 2, pg. 557
Feb. 1, 1980—Jan. 31, 198212%Table 5, pg. 560
Feb. 1, 1982—Dec. 31, 198220%Table 6, pg. 560
Jan. 1, 1983—Jun. 30, 198316%Table 37, pg. 591
Bulletin No. 2018–26June 25, 2018
761

TABLE OF INTEREST RATES
PERIODS BEFORE JUL. 1, 1975 - PERIODS ENDING DEC. 31, 1986
OVERPAYMENTS AND UNDERPAYMENTS
In 1995–1 C.B.
PERIODRATEDAILY RATE TABLE
Jul. 1, 1983—Dec. 31, 198311%Table 27, pg. 581
Jan. 1, 1984—Jun. 30, 198411%Table 75, pg. 629
Jul. 1, 1984—Dec. 31, 198411%Table 75, pg. 629
Jan. 1, 1985—Jun. 30, 198513%Table 31, pg. 585
Jul. 1, 1985—Dec. 31, 198511%Table 27, pg. 581
Jan. 1, 1986—Jun. 30, 198610%Table 25, pg. 579
Jul. 1, 1986—Dec. 31, 19869%Table 23, pg. 577
TABLE OF INTEREST RATES
FROM JAN. 1, 1987 - Dec. 31, 1998
OVERPAYMENTSUNDERPAYMENTS
1995–1 C.B.1995–1 C.B.
RATETABLEPGRATETABLEPG
Jan. 1, 1987—Mar. 31, 19878%215759%23577
Apr. 1, 1987—Jun. 30, 19878%215759%23577
Jul. 1, 1987—Sep. 30, 19878%215759%23577
Oct. 1, 1987—Dec. 31, 19879%2357710%25579
Jan. 1, 1988—Mar. 31, 198810%7362711%75629
Apr. 1, 1988—Jun. 30, 19889%7162510%73627
Jul. 1, 1988—Sep. 30, 19889%7162510%73627
Oct. 1, 1988—Dec. 31, 198810%7362711%75629
Jan. 1, 1989—Mar. 31, 198910%2557911%27581
Apr. 1, 1989—Jun. 30, 198911%2758112%29583
Jul. 1, 1989—Sep. 30, 198911%2758112%29583
Oct. 1, 1989—Dec. 31, 198910%2557911%27581
Jan. 1, 1990—Mar. 31, 199010%2557911%27581
Apr. 1, 1990—Jun. 30, 199010%2557911%27581
Jul. 1, 1990—Sep. 30, 199010%2557911%27581
Oct. 1, 1990—Dec. 31, 199010%2557911%27581
Jan. 1, 1991—Mar. 31, 199110%2557911%27581
Apr. 1, 1991—Jun. 30, 19919%2357710%25579
Jul. 1, 1991—Sep. 30, 19919%2357710%25579
Oct. 1, 1991—Dec. 31, 19919%2357710%25579
Jan. 1, 1992—Mar. 31, 19928%696239%71625
Apr. 1, 1992—Jun. 30, 19927%676218%69623
Jul. 1, 1992—Sep. 30, 19927%676218%69623
Oct. 1, 1992—Dec. 31, 19926%656197%67621
Jan. 1, 1993—Mar. 31, 19936%175717%19573
Apr. 1, 1993—Jun. 30, 19936%175717%19573
Jul. 1, 1993—Sep. 30, 19936%175717%19573
Oct. 1, 1993—Dec. 31, 19936%175717%19573
Jan. 1, 1994—Mar. 31, 19946%175717%19573
Apr. 1, 1994—Jun. 30, 19946%175717%19573
June 25, 2018Bulletin No. 2018–26
762

TABLE OF INTEREST RATES
FROM JAN. 1, 1987 - Dec. 31, 1998
OVERPAYMENTSUNDERPAYMENTS
1995–1 C.B.1995–1 C.B.
RATETABLEPGRATETABLEPG
Jul. 1, 1994—Sep. 30, 19947%195738%21575
Oct. 1, 1994—Dec. 31, 19948%215759%23577
Jan. 1, 1995—Mar. 31, 19958%215759%23577
Apr. 1, 1995—Jun. 30, 19959%2357710%25579
Jul. 1, 1995—Sep. 30, 19958%215759%23577
Oct. 1, 1995—Dec. 31, 19958%215759%23577
Jan. 1, 1996—Mar. 31, 19968%696239%71625
Apr. 1, 1996—Jun. 30, 19967%676218%69623
Jul. 1, 1996—Sep. 30, 19968%696239%71625
Oct. 1, 1996—Dec. 31, 19968%696239%71625
Jan. 1, 1997—Mar. 31, 19978%215759%23577
Apr. 1, 1997—Jun. 30, 19978%215759%23577
Jul. 1, 1997—Sep. 30, 19978%215759%23577
Oct. 1, 1997—Dec. 31, 19978%215759%23577
Jan. 1, 1998—Mar. 31, 19988%215759%23577
Apr. 1, 1998—Jun. 30, 19987%195738%21575
Jul. 1, 1998—Sep. 30, 19987%195738%21575
Oct. 1, 1998—Dec. 31, 19987%195738%21575
TABLE OF INTEREST RATES
FROM JANUARY 1, 1999 - PRESENT
NONCORPORATE OVERPAYMENTS AND UNDERPAYMENTS
1995–1 C.B.
RATETABLEPAGE
Jan. 1, 1999—Mar. 31, 19997%19573
Apr. 1, 1999—Jun. 30, 19998%21575
Jul. 1, 1999—Sep. 30, 19998%21575
Oct. 1, 1999—Dec. 31, 19998%21575
Jan. 1, 2000—Mar. 31, 20008%69623
Apr. 1, 2000—Jun. 30, 20009%71625
Jul. 1, 2000—Sep. 30, 20009%71625
Oct. 1, 2000—Dec. 31, 20009%71625
Jan. 1, 2001—Mar. 31, 20019%23577
Apr. 1, 2001—Jun. 30, 20018%21575
Jul. 1, 2001—Sep. 30, 20017%19573
Oct. 1, 2001—Dec. 31, 20017%19573
Jan. 1, 2002—Mar. 31, 20026%17571
Apr. 1, 2002—Jun. 30, 20026%17571
Jul. 1, 2002—Sep. 30, 20026%17571
Oct. 1, 2002—Dec. 31, 20026%17571
Jan. 1, 2003—Mar. 31, 20035%15569
Apr. 1, 2003—Jun. 30, 20035%15569
Jul. 1, 2003—Sep. 30, 20035%15569
Bulletin No. 2018–26June 25, 2018
763

TABLE OF INTEREST RATES
FROM JANUARY 1, 1999 - PRESENT
NONCORPORATE OVERPAYMENTS AND UNDERPAYMENTS
1995–1 C.B.
RATETABLEPAGE
Oct. 1, 2003—Dec. 31, 20034%13567
Jan. 1, 2004—Mar. 31, 20044%61615
Apr. 1, 2004—Jun. 30, 20045%63617
Jul. 1, 2004—Sep. 30, 20044%61615
Oct. 1, 2004—Dec. 31, 20045%63617
Jan. 1, 2005—Mar. 31, 20055%15569
Apr. 1, 2005—Jun. 30, 20056%17571
Jul. 1, 2005—Sep. 30, 20056%17571
Oct. 1, 2005—Dec. 31, 20057%19573
Jan. 1, 2006—Mar. 31, 20067%19573
Apr. 1, 2006—Jun. 30, 20067%19573
Jul. 1, 2006—Sep. 30, 20068%21575
Oct. 1, 2006—Dec. 31, 20068%21575
Jan. 1, 2007—Mar. 31, 20078%21575
Apr. 1, 2007—Jun. 30, 20078%21575
Jul. 1, 2007—Sep. 30, 20078%21575
Oct. 1, 2007—Dec. 31, 20078%21575
Jan. 1, 2008—Mar. 31, 20087%67621
Apr. 1, 2008—Jun. 30, 20086%65619
Jul. 1, 2008—Sep. 30, 20085%63617
Oct. 1, 2008—Dec. 31, 20086%65619
Jan. 1, 2009—Mar. 31, 20095%15569
Apr. 1, 2009—Jun. 30, 20094%13567
Jul. 1, 2009—Sep. 30, 20094%13567
Oct. 1, 2009—Dec. 31, 20094%13567
Jan. 1, 2010—Mar. 31, 20104%13567
Apr. 1, 2010—Jun. 30, 20104%13567
Jul. 1, 2010—Sep. 30, 20104%13567
Oct. 1, 2010—Dec. 31, 20104%13567
Jan. 1, 2011—Mar. 31, 20113%11565
Apr. 1, 2011—Jun. 30, 20114%13567
Jul. 1, 2011—Sep. 30, 20114%13567
Oct. 1, 2011—Dec. 31, 20113%11565
Jan. 1, 2012—Mar. 31, 20123%59613
Apr. 1, 2012—Jun. 30, 20123%59613
Jul. 1, 2012—Sep. 30, 20123%59613
Oct. 1, 2012—Dec. 31, 20123%59613
Jan. 1, 2013—Mar. 31, 20133%11565
Apr. 1, 2013—Jun. 30, 20133%11565
Jul. 1, 2013—Sep. 30, 20133%11565
Oct. 1, 2013—Dec. 31, 20133%11565
Jan. 1, 2014—Mar. 31, 20143%11565
Apr. 1, 2014—Jun. 30, 20143%11565
June 25, 2018Bulletin No. 2018–26
764

TABLE OF INTEREST RATES
FROM JANUARY 1, 1999 - PRESENT
NONCORPORATE OVERPAYMENTS AND UNDERPAYMENTS
1995–1 C.B.
RATETABLEPAGE
Jul. 1, 2014—Sep. 30, 20143%11565
Oct. 1, 2014—Dec. 31, 20143%11565
Jan. 1, 2015—Mar. 31, 20153%11565
Apr. 1, 2015—Jun. 30, 20153%11565
Jul. 1, 2015—Sep. 30, 20153%11565
Oct. 1. 2015—Dec. 31, 20153%11565
Jan. 1, 2016—Mar. 31, 20163%59613
Apr. 1, 2016—Jun. 30, 20164%61615
Jul. 1, 2016—Sep. 30, 20164%61615
Oct. 1, 2016—Dec. 31, 20164%61615
Jan. 1, 2017—Mar. 31, 20174%13567
Apr. 1, 2017—Jun. 30, 20174%13567
Jul. 1, 2017—Sep. 30, 20174%13567
Oct. 1, 2017—Dec. 31, 20174%13567
Jan. 1, 2018—Mar. 31, 20184%13567
Apr. 1, 2018—Jun. 30, 20185%15569
Jul. 1, 2018—Sep. 30, 20185%15569
TABLE OF INTEREST RATES
FROM JANUARY 1, 1999 - PRESENT
CORPORATE OVERPAYMENTS AND UNDERPAYMENTS
OVERPAYMENTSUNDERPAYMENTS
1995–1 C.B.1995–1 C.B.
RATETABLEPGRATETABLEPG
Jan. 1, 1999—Mar. 31, 19996%175717%19573
Apr. 1, 1999—Jun. 30, 19997%195738%21575
Jul. 1, 1999—Sep. 30, 19997%195738%21575
Oct. 1, 1999—Dec. 31, 19997%195738%21575
Jan. 1, 2000—Mar. 31, 20007%676218%69623
Apr. 1, 2000—Jun. 30, 20008%696239%71625
Jul. 1, 2000—Sep. 30, 20008%696239%71625
Oct. 1, 2000—Dec. 31, 20008%696239%71625
Jan. 1, 2001—Mar. 31, 20018%215759%23577
Apr. 1, 2001—Jun. 30, 20017%195738%21575
Jul. 1, 2001—Sep. 30, 20016%175717%19573
Oct. 1, 2001—Dec. 31, 20016%175717%19573
Jan. 1, 2002—Mar. 31, 20025%155696%17571
Apr. 1, 2002—Jun. 30, 20025%155696%17571
Jul. 1, 2002—Sep. 30, 20025%155696%17571
Oct. 1, 2002—Dec. 31, 20025%155696%17571
Jan. 1, 2003—Mar. 31, 20034%135675%15569
Apr. 1, 2003—Jun. 30, 20034%135675%15569
Jul. 1, 2003—Sep. 30, 20034%135675%15569
Bulletin No. 2018–26June 25, 2018
765

TABLE OF INTEREST RATES
FROM JANUARY 1, 1999 - PRESENT
CORPORATE OVERPAYMENTS AND UNDERPAYMENTS
OVERPAYMENTSUNDERPAYMENTS
1995–1 C.B.1995–1 C.B.
RATETABLEPGRATETABLEPG
Oct. 1, 2003—Dec. 31, 20033%115654%13567
Jan. 1, 2004—Mar. 31, 20043%596134%61615
Apr. 1, 2004—Jun. 30, 20044%616155%63617
Jul. 1, 2004—Sep. 30, 20043%596134%61615
Oct. 1, 2004—Dec. 31, 20044%616155%63617
Jan. 1, 2005—Mar. 31, 20054%135675%15569
Apr. 1, 2005—Jun. 30, 20055%155696%17571
Jul. 1, 2005—Sep. 30, 20055%155696%17571
Oct. 1, 2005—Dec. 31, 20056%175717%19573
Jan. 1, 2006—Mar. 31, 20066%175717%19573
Apr. 1, 2006—Jun. 30, 20066%175717%19573
Jul. 1, 2006—Sep. 30, 20067%195738%21575
Oct. 1, 2006—Dec. 31, 20067%195738%21575
Jan. 1, 2007—Mar. 31, 20077%195738%21575
Apr. 1, 2007—Jun. 30, 20077%195738%21575
Jul. 1, 2007—Sep. 30, 20077%195738%21575
Oct. 1, 2007—Dec. 31, 20077%195738%21575
Jan. 1, 2008—Mar. 31, 20086%656197%67621
Apr. 1, 2008—Jun. 30, 20085%636176%65619
Jul. 1, 2008—Sep. 30, 20084%616155%63617
Oct. 1, 2008—Dec. 31, 20085%636176%65619
Jan. 1, 2009—Mar. 31, 20094%135675%15569
Apr. 1, 2009—Jun. 30, 20093%115654%13567
Jul. 1, 2009—Sep. 30, 20093%115654%13567
Oct. 1, 2009—Dec. 31, 20093%115654%13567
Jan. 1, 2010—Mar. 31, 20103%115654%13567
Apr. 1, 2010—Jun. 30, 20103%115654%13567
Jul. 1, 2010—Sep. 30, 20103%115654%13567
Oct. 1, 2010—Dec. 31, 20103%115654%13567
Jan. 1, 2011—Mar. 31, 20112%95633%11565
Apr. 1, 2011—Jun. 30, 20113%115654%13567
Jul. 1, 2011—Sep. 30, 20113%115654%13567
Oct. 1, 2011—Dec. 31, 20112%95633%11565
Jan. 1, 2012—Mar. 31, 20122%576113%59613
Apr. 1, 2012—Jun. 30, 20122%576113%59613
Jul. 1, 2012—-Sep. 30, 20122%576113%59613
Oct. 1, 2012—Dec. 31, 20122%576113%59613
Jan. 1, 2013—Mar. 31, 20132%95633%11565
Apr. 1, 2013—Jun. 30, 20132%95633%11565
Jul. 1, 2013—Sep. 30, 20132%95633%11565
Oct. 1, 2013—Dec. 31, 20132%95633%11565
Jan. 1, 2014—Mar. 31, 20142%95633%11565
June 25, 2018Bulletin No. 2018–26
766

TABLE OF INTEREST RATES
FROM JANUARY 1, 1999 - PRESENT
CORPORATE OVERPAYMENTS AND UNDERPAYMENTS
OVERPAYMENTSUNDERPAYMENTS
1995–1 C.B.1995–1 C.B.
RATETABLEPGRATETABLEPG
Apr. 1, 2014—Jun. 30, 20142%95633%11565
Jul. 1, 2014—-Sep. 30, 20142%95633%11565
Oct. 1, 2014—Dec. 31, 20142%95633%11565
Jan. 1, 2015—Mar. 31, 20152%95633%11565
Apr. 1, 2015—Jun. 30, 20152%95633%11565
Jul. 1. 2015—Sep. 30, 20152%95633%11565
Oct. 1, 2015—Dec. 31, 20152%95633%11565
Jan. 1, 2016—Mar. 31, 20162%576113%59613
Apr. 1, 2016—Jun. 30, 20163%596134%61615
Jul. 1, 2016—-Sep. 30, 20163%596134%61615
Oct. 1, 2016—Dec. 31, 20163%596134%61615
Jan. 1, 2017—Mar. 31, 20173%115654%13567
Apr. 1, 2017—Jun. 30, 20173%115654%13567
Jul. 1, 2017—Sep. 30, 20173%115654%13567
Oct. 1, 2017—Dec. 31, 20173%115654%13567
Jan. 1, 2018—Mar. 31, 20183%115654%13567
Apr. 1, 2018—Jun. 30, 20184%135675%15569
Jul. 1, 2018—Sep. 30, 20184%135675%15569
TABLE OF INTEREST RATES FOR
LARGE CORPORATE UNDERPAYMENTS
FROM JANUARY 1, 1991 – PRESENT
1995–1 C.B.
RATETABLEPG
Jan. 1, 1991—Mar. 31, 199113%31585
Apr. 1, 1991—Jun. 30, 199112%29583
Jul. 1, 1991—Sep. 30, 199112%29583
Oct. 1, 1991—Dec. 31, 199112%29583
Jan. 1, 1992—Mar. 31, 199211%75629
Apr. 1, 1992—Jun. 30, 199210%73627
Jul. 1, 1992—Sep. 30, 199210%73627
Oct. 1, 1992—Dec. 31, 19929%71625
Jan. 1, 1993—Mar. 31, 19939%23577
Apr. 1, 1993—Jun. 30, 19939%23577
Jul. 1, 1993—Sep. 30, 19939%23577
Oct. 1, 1993—Dec. 31, 19939%23577
Jan. 1, 1994—Mar. 31, 19949%23577
Apr. 1, 1994—Jun. 30, 19949%23577
Jul. 1, 1994—Sep. 30, 199410%25579
Oct. 1, 1994—Dec. 31, 199411%27581
Jan. 1, 1995—Mar. 31, 199511%27581
Apr. 1, 1995—Jun. 30, 199512%29583
Bulletin No. 2018–26June 25, 2018
767

TABLE OF INTEREST RATES FOR
LARGE CORPORATE UNDERPAYMENTS
FROM JANUARY 1, 1991 – PRESENT
1995–1 C.B.
RATETABLEPG
Jul. 1, 1995—Sep. 30, 199511%27581
Oct. 1, 1995—Dec. 31, 199511%27581
Jan. 1, 1996—Mar. 31, 199611%75629
Apr. 1, 1996—Jun. 30, 199610%73627
Jul. 1, 1996—Sep. 30, 199611%75629
Oct. 1, 1996—Dec. 31, 199611%75629
Jan. 1, 1997—Mar. 31, 199711%27581
Apr. 1, 1997—Jun. 30, 199711%27581
Jul. 1, 1997—Sep. 30, 199711%27581
Oct. 1, 1997—Dec. 31, 199711%27581
Jan. 1, 1998—Mar. 31, 199811%27581
Apr. 1, 1998—Jun. 30, 199810%25579
Jul. 1, 1998—Sep. 30, 199810%25579
Oct. 1, 1998—Dec. 31, 199810%25579
Jan. 1, 1999—Mar. 31, 19999%23577
Apr. 1, 1999—Jun. 30, 199910%25579
Jul. 1, 1999—Sep. 30, 199910%25579
Oct. 1, 1999—Dec. 31, 199910%25579
Jan. 1, 2000—Mar. 31, 200010%73627
Apr. 1, 2000—Jun. 30, 200011%75629
Jul. 1, 2000—Sep. 30, 200011%75629
Oct. 1, 2000—Dec. 31, 200011%75629
Jan. 1, 2001—Mar. 31, 200111%27581
Apr. 1, 2001—Jun. 30, 200110%25579
Jul. 1, 2001—Sep. 30, 20019%23577
Oct. 1, 2001—Dec. 31, 20019%23577
Jan. 1, 2002—Mar. 31, 20028%21575
Apr. 1, 2002—Jun. 30, 20028%21575
Jul. 1, 2002—Sep. 30, 20028%21575
Oct. 1, 2002—Dec. 31, 20028%21575
Jan. 1, 2003—Mar. 31, 20037%19573
Apr. 1, 2003—Jun. 30, 20037%19573
Jul. 1, 2003—Sep. 30, 20037%19573
Oct. 1, 2003—Dec. 31, 20036%17571
Jan. 1, 2004—Mar. 31, 20046%65619
Apr. 1, 2004—Jun. 30, 20047%67621
Jul. 1, 2004—Sep. 30, 20046%65619
Oct. 1, 2004—Dec. 31, 20047%67621
Jan. 1, 2005—Mar. 31, 20057%19573
Apr. 1, 2005—Jun. 30, 20058%21575
Jul. 1, 2005—Sep. 30, 20058%21575
Oct. 1, 2005—Dec. 31, 20059%23577
Jan. 1, 2006—Mar. 31, 20069%23577
June 25, 2018Bulletin No. 2018–26
768

TABLE OF INTEREST RATES FOR
LARGE CORPORATE UNDERPAYMENTS
FROM JANUARY 1, 1991 – PRESENT
1995–1 C.B.
RATETABLEPG
Apr. 1, 2006—Jun. 30, 20069%23577
Jul. 1, 2006—Sep. 30, 200610%25579
Oct. 1, 2006—Dec. 31, 200610%25579
Jan. 1, 2007—Mar. 31, 200710%25579
Apr. 1, 2007—Jun. 30, 200710%25579
Jul. 1, 2007—Sep. 30, 200710%25579
Oct. 1, 2007—Dec. 31, 200710%25579
Jan. 1, 2008—Mar. 31, 20089%71625
Apr. 1, 2008—Jun. 30, 20088%69623
Jul. 1, 2008—Sep. 30, 20087%67621
Oct. 1, 2008—Dec. 31, 20088%69623
Jan. 1, 2009—Mar. 31, 20097%19573
Apr. 1, 2009—Jun. 30, 20096%17571
Jul. 1, 2009—Sep. 30, 20096%17571
Oct. 1, 2009—Dec. 31, 20096%17571
Jan. 1, 2010—Mar. 31, 20106%17571
Apr. 1, 2010—Jun. 30, 20106%17571
Jul. 1, 2010—Sep. 30, 20106%17571
Oct. 1, 2010—Dec. 31, 20106%17571
Jan. 1, 2011—Mar. 31, 20115%15569
Apr. 1, 2011—Jun. 30, 20116%17571
Jul. 1, 2011—Sep. 30, 20116%17571
Oct. 1, 2011—Dec. 31, 20115%15569
Jan. 1, 2012—Mar. 31, 20125%63617
Apr. 1, 2012—Jun. 30, 20125%63617
Jul. 1, 2012—Sep. 30, 20125%63617
Oct. 1, 2012—Dec. 31, 20125%63617
Jan. 1, 2013—Mar. 31, 20135%15569
Apr. 1, 2013—Jun. 30, 20135%15569
Jul. 1, 2013—Sep. 30, 20135%15569
Oct. 1, 2013—Dec. 31, 20135%15569
Jan. 1, 2014—Mar. 31, 20145%15569
Apr. 1, 2014—Jun. 30, 20145%15569
Jul. 1, 2014—Sep. 30, 20145%15569
Oct. 1, 2014—Dec. 31, 20145%15569
Jan. 1, 2015—Mar. 31, 20155%15569
Apr. 1, 2015—Jun. 30, 20155%15569
Jul. 1, 2015—Sep. 30, 20155%15569
Oct. 1, 2015—Dec. 31, 20155%15569
Jan. 1, 2016—Mar. 31, 20165%63617
Apr. 1, 2016—Jun. 30, 20166%65619
Jul. 1, 2016—Sep. 30, 20166%65619
Oct. 1, 2016—Dec. 31, 20166%65619
Bulletin No. 2018–26June 25, 2018
769

TABLE OF INTEREST RATES FOR
LARGE CORPORATE UNDERPAYMENTS
FROM JANUARY 1, 1991 – PRESENT
1995–1 C.B.
RATETABLEPG
Jan. 1, 2017—Mar. 31, 20176%17571
Apr. 1, 2017—Jun. 30, 20176%17571
Jul. 1, 2017—Sep. 30, 20176%17571
Oct. 1, 2017—Dec. 31, 20176%17571
Jan. 1, 2018—Mar. 31, 20186%17571
Apr. 1, 2018—Jun. 30, 20187%19573
Jul. 1, 2018—Sep. 30, 20187%19573
TABLE OF INTEREST RATES FOR CORPORATE
OVERPAYMENTS EXCEEDING $10,000
FROM JANUARY 1, 1995 – PRESENT
1995–1 C.B.
RATETABLEPG
Jan. 1, 1995—Mar. 31, 19956.5%18572
Apr. 1, 1995—Jun. 30, 19957.5%20574
Jul. 1, 1995—Sep. 30, 19956.5%18572
Oct. 1, 1995—Dec. 31, 19956.5%18572
Jan. 1, 1996—Mar. 31, 19966.5%66620
Apr. 1, 1996—Jun. 30, 19965.5%64618
Jul. 1, 1996—Sep. 30, 19966.5%66620
Oct. 1, 1996—Dec. 31, 19966.5%66620
Jan. 1, 1997—Mar. 31, 19976.5%18572
Apr. 1, 1997—Jun. 30, 19976.5%18572
Jul. 1, 1997—Sep. 30, 19976.5%18572
Oct. 1, 1997—Dec. 31, 19976.5%18572
Jan. 1, 1998—Mar. 31, 19986.5%18572
Apr. 1, 1998—Jun. 30, 19985.5%16570
Jul. 1, 1998—Sep. 30, 19985.5%16570
Oct. 1, 1998—Dec. 31, 19985.5%16570
Jan. 1, 1999—Mar. 31, 19994.5%14568
Apr. 1, 1999—Jun. 30, 19995.5%16570
Jul. 1, 1999—Sep. 30, 19995.5%16570
Oct. 1, 1999—Dec. 31, 19995.5%16570
Jan. 1, 2000—Mar. 31, 20005.5%64618
Apr. 1, 2000—Jun. 30, 20006.5%66620
Jul. 1, 2000—Sep. 30, 20006.5%66620
Oct. 1, 2000—Dec. 31, 20006.5%66620
Jan. 1, 2001—Mar. 31, 20016.5%18572
Apr. 1, 2001—Jun. 30, 20015.5%16570
Jul. 1, 2001—Sep. 30, 20014.5%14568
Oct. 1, 2001—Dec. 31, 20014.5%14568
Jan. 1, 2002—Mar. 31, 20023.5%12566
Apr. 1, 2002—Jun. 30, 20023.5%12566
June 25, 2018Bulletin No. 2018–26
770

TABLE OF INTEREST RATES FOR CORPORATE
OVERPAYMENTS EXCEEDING $10,000
FROM JANUARY 1, 1995 – PRESENT
1995–1 C.B.
RATETABLEPG
Jul. 1, 2002—Sep. 30, 20023.5%12566
Oct. 1, 2002—Dec. 31, 20023.5%12566
Jan. 1, 2003—Mar. 31, 20032.5%10564
Apr. 1, 2003—Jun. 30, 20032.5%10564
Jul. 1, 2003—Sep. 30, 20032.5%10564
Oct. 1, 2003—Dec. 31, 20031.5%8562
Jan. 1, 2004—Mar. 31, 20041.5%56610
Apr. 1, 2004—Jun. 30, 20042.5%58612
Jul. 1, 2004—Sep. 30, 20041.5%56610
Oct. 1, 2004—Dec. 31, 20042.5%58612
Jan. 1, 2005—Mar. 31, 20052.5%10564
Apr. 1, 2005—Jun. 30, 20053.5%12566
Jul. 1, 2005—Sep. 30, 20053.5%12566
Oct. 1, 2005—Dec. 31, 20054.5%14568
Jan. 1, 2006—Mar. 31, 20064.5%14568
Apr. 1, 2006—Jun. 30, 20064.5%14568
Jul. 1, 2006—Sep. 30, 20065.5%16570
Oct. 1, 2006—Dec. 31, 20065.5%16570
Jan. 1, 2007—Mar. 31, 20075.5%16570
Apr. 1, 2007—Jun. 30, 20075.5%16570
Jul. 1, 2007—Sep. 30, 20075.5%16570
Oct. 1, 2007—Dec. 31, 20075.5%16570
Jan. 1, 2008—Mar. 31, 20084.5%62616
Apr. 1, 2008—Jun. 30, 20083.5%60614
Jul. 1, 2008—Sep. 30, 20082.5%58612
Oct. 1, 2008—Dec. 31, 20083.5%60614
Jan. 1, 2009—Mar. 31, 20092.5%10564
Apr. 1, 2009—Jun. 30, 20091.5%8562
Jul. 1, 2009—Sep. 30, 20091.5%8562
Oct. 1, 2009—Dec. 31, 20091.5%8562
Jan. 1, 2010—Mar. 31, 20101.5%8562
Apr. 1, 2010—Jun. 30, 20101.5%8562
Jul. 1, 2010—Sep. 30, 20101.5%8562
Oct. 1, 2010—Dec. 31, 20101.5%8562
Jan. 1, 2011—Mar. 31, 20110.5%*
Apr. 1, 2011—Jun. 30, 20111.5%8562
Jul. 1, 2011—Sep. 30, 20111.5%8562
Oct. 1, 2011—Dec. 31, 20110.5%*
Jan. 1, 2012—Mar. 31, 20120.5%*
Apr. 1, 2012—Jun. 30, 20120.5%*
Jul. 1, 2012—Sep. 30, 20120.5%*
Oct. 1, 2012—Dec. 31, 20120.5%*
Jan. 1, 2013—Mar. 31, 20130.5%*
Bulletin No. 2018–26June 25, 2018
771

TABLE OF INTEREST RATES FOR CORPORATE
OVERPAYMENTS EXCEEDING $10,000
FROM JANUARY 1, 1995 – PRESENT
1995–1 C.B.
RATETABLEPG
Apr. 1, 2013—Jun. 30, 20130.5%*
Jul. 1, 2013—Sep. 30, 20130.5%*
Oct. 1, 2013—Dec. 31, 20130.5%*
Jan. 1, 2014—Mar. 31, 20140.5%*
Apr. 1, 2014—Jun. 30, 20140.5%*
Jul. 1, 2014—Sep. 30, 20140.5%*
Oct. 1, 2014—Dec. 31, 20140.5%*
Jan. 1, 2015—Mar. 31, 20150.5%*
Apr. 1, 2015—Jun. 30, 20150.5%*
Jul. 1, 2015—Sep. 30, 20150.5%*
Oct. 1, 2015—Dec. 31, 20150.5%*
Jan. 1, 2016—Mar. 31, 20160.5%*
Apr. 1, 2016—Jun. 30, 20161.5%56610
Jul. 1, 2016—Sep. 30, 20161.5%56610
Oct. 1, 2016—Dec. 31, 20161.5%56610
Jan. 1, 2017—Mar. 31, 20171.5%8562
Apr. 1, 2017—Jun. 30, 20171.5%8562
Jul. 1, 2017—Sep. 30, 20171.5%8562
Oct. 1, 2017—Dec. 31, 20171.5%8562
Jan. 1, 2018—Mar. 31, 20181.5%8562
Apr. 1, 2018—Jun. 30, 20182.5%10564
Jul. 1, 2018—Sep. 30, 20182.5%10564
* The asterisk reflects the interest factors for daily compound interest for annual rates of 0.5 percent published in
Appendix A of this Revenue Ruling.
June 25, 2018Bulletin No. 2018–26
772

Part III. Administrative, Procedural, and Miscellaneous
Guidance on the
Calculation of Net
Investment Income for
Purposes of the Section
4968 Excise Tax
Applicable to Certain
Private Colleges and
Universities
Notice 2018–55
SECTION 1. PURPOSE
This notice announces that the Depart-
ment of the Treasury (the Treasury De-
partment) and the Internal Revenue Ser-
vice (the IRS) intend to issue proposed
regulations providing clarification regard-
ing the calculation of net investment in-
come for purposes of section 4968(c) of
the Internal Revenue Code (Code). Tax-
payers may rely on section 3 of this notice
until further guidance is issued.
SECTION 2. BACKGROUND
Section 13701 of Pub. L. No. 115–97,
an Act to Provide for Reconciliation Pur-
suant to Titles II and V of the Concurrent
Resolution on the Budget for Fiscal Year
2018, imposes on each applicable educa-
tional institution, as defined in section
4968(b)(1), an excise tax equal to 1.4% of
the institution’s net investment income for
the taxable year. Section 4968(c) provides
that net investment income is to be deter-
mined under rules similar to the rules of
section 4940(c). Section 4968(d)(1) pro-
vides that certain assets and net invest-
ment income of related organizations de-
scribed in section 4968(d)(2) are treated
as assets and net investment income of the
educational institution. Section 4968 ap-
plies to taxable years beginning after De-
cember 31, 2017.
Section 4940(c)(1) provides that net
investment income is the amount by
which the sum of the gross investment
income and the capital gain net income
exceeds allowable deductions. Except to
the extent inconsistent with the provisions
of section 4940, net investment income is
determined under the principles of subtitle
A of the Code.
Section 4940(c)(2) provides that, for
purposes of section 4940(c)(1), gross in-
vestment income means the gross amount
of income from interest, dividends, rents,
payments with respect to securities loans
(as defined in section 512(a)(5)), and roy-
alties, but not including any such income
to the extent included in computing the
tax imposed by section 511. Investment
income also includes income from sources
similar to those specifically listed in the
preceding sentence.
Section 4940(c)(3) provides that, for
purposes of section 4940(c)(1), there is
allowed as a deduction all the ordinary
and necessary expenses paid or incurred
for the production or collection of gross
investment income or for the manage-
ment, conservation, or maintenance of
property held for the production of such
income, determined with the following
modifications: (i) the deduction provided
by section 167 is allowed, but only on the
basis of the straight line method of depre-
ciation; and (ii) the deduction for deple-
tion provided by section 611 is allowed,
but such deduction shall be determined
without regard to section 613 (relating to
percentage depletion).
Section 4940(c)(4) provides that, for
purposes of section 4940(c)(1): (A) no
gain or loss from the sale or other dispo-
sition of property is taken into account to
the extent that any such gain or loss is
taken into account for purposes of com-
puting the tax imposed by section 511; (B)
in the case of property held by a private
foundation on December 31, 1969, and
continuously thereafter to the date of its
disposition, the basis for determining gain
shall be deemed to be not less than the fair
market value of such property on Decem-
ber 31, 1969; (C) losses from sales or
other dispositions of property are allowed
only to the extent of gains from such sales
or other dispositions, and there shall be no
capital loss carryovers or carrybacks; and
(D) except to the extent provided by reg-
ulation, under rules similar to the rules of
section 1031 (including the exception un-
der subsection (a)(2) thereof), no gain or
loss is taken into account with respect to
any portion of property used for a period
of not less than 1 year for a purpose or
function constituting the basis of the pri-
vate foundation’s exemption if the entire
property is exchanged immediately fol-
lowing such period solely for property of
like kind which is to be used primarily for
a purpose or function constituting the ba-
sis for such foundation’s exemption.
Treasury Regulations § 53.4940 –1(f)
(2)(i) provides that basis for purposes of
determining gain from the sale or other dis-
position of property shall be the greater of:
(A) fair market value on December 31,
1969, plus or minus all adjustments after
December 31, 1969, and before the date of
disposition under the rules of Part II of Sub-
chapter O of Chapter 1, provided that the
property was held by the private foundation
on December 31, 1969, and continuously
thereafter to the date of disposition, or (B)
basis as determined under the rules of Part II
of Subchapter O of Chapter 1, subject to the
provisions of section 4940(c)(3)(B) (and
without regard to section 362(c)). Treas.
Reg. § 53.4940 –1(f)(2)(ii) provides that for
purposes of determining loss from the sale
or other disposition of property, basis shall
be determined under the rules of Part II of
Subchapter O of Chapter 1, subject to the
provisions of section 4940(c)(3)(B) (and
without regard to section 362(c)).
Section 4940(c)(5) provides that, for
purposes of section 4940, net investment
income is determined by applying section
103 (relating to State and local bonds) and
section 265 (relating to expenses and in-
terest relating to tax-exempt income).
SECTION 3. BASIS FOR
DETERMINING GAIN OR LOSS ON
DISPOSITION OF PROPERTY
Similar to the rules found in section
4940(c), the Treasury Department and the
IRS intend to propose regulations stating
that, in the case of property held by an
applicable educational institution on De-
cember 31, 2017, and continuously there-
after to the date of its disposition, basis of
such property for determining gain shall
be deemed to be not less than the fair
market value of such property on Decem-
ber 31, 2017, plus or minus all adjust-
ments after December 31, 2017, and be-
fore the date of disposition consistent with
the regulations under section 4940(c). In
addition, for purposes of determining loss,
basis rules that are consistent with the
Bulletin No. 2018–26June 25, 2018
773

regulations under section 4940(c) will
apply.
SECTION 4. NETTING CAPITAL
GAINS AND LOSSES
Similar to the rules found in section
4940(c)(4)(C), the Treasury Department
and the IRS intend to propose regulations
stating that losses from sales or other dis-
positions of property generally shall be
allowed only to the extent of gains from
such sales or other dispositions, and there
shall be no capital loss carryovers or car-
rybacks. The Treasury Department and
the IRS also expect that with respect to
related organizations described in section
4968(d)(2), overall net losses from sales
or other dispositions of property in one
related organization (or from the applica-
ble educational institution) will be al-
lowed to offset overall net gains from
such sales or other dispositions from other
related organizations (or from the applica-
ble educational institution), but request
comments on this issue.
SECTION 5. RELIANCE
Before the issuance of the proposed
regulations described in this notice, appli-
cable educational institutions described in
section 4968(b)(1) may rely on the rules
described in section 3 of this notice.
SECTION 6. REQUEST FOR
PUBLIC COMMENTS
The Treasury Department and the
IRS request comments on the issues ad-
dressed in this notice, including com-
ments on what other guidance under
section 4968(c) is needed and whether,
and what type of, transitional relief may
be necessary.
Written comments may be submitted
by September 6, 2018, to Internal Rev-
enue Service, CC:PA:LPD:PR (Notice
2018 –55), Room 5203, P.O. Box 7604,
BenFranklinStation,Washington,
DC 20044, orelectronically to Notice.
Comments@irscounsel.treas.gov (please
include “Notice 2018 –55” in the subject
line). Alternatively, comments may be
hand delivered between the hours of
8:00 a.m. and 4:00 p.m. Monday to Fri-
day to CC:PA:LPD:PR (Notice 2018 –
55), Courier’s Desk, Internal Revenue
Service, 1111 Constitution Avenue NW,
Washington, D.C. Comments will be
available for public inspection and
copying.
SECTION 7. DRAFTING
INFORMATION
The principal author of this notice is
Amber Mackenzie of the Office of Asso-
ciate Chief Counsel (Tax Exempt and
Government Entities). For further infor-
mation regarding this notice, contact Am-
ber Mackenzie or Melinda Williams at
(202) 317-5800 (not a toll-free number).
Foreign Currency Guidance
under Section 987
Notice 2018–57
I. PURPOSE
This Notice announces that the Depart-
ment of the Treasury (Treasury Depart-
ment) and the Internal Revenue Service
(IRS) intend to amend the regulations un-
der section 987 to defer the applicability
date of the final regulations under section
987, as well as certain related final and
temporary regulations, by one additional
year.
The final regulations under section 987
were identified in Notice 2017–38,
2017–30 I.R.B. 147 (July 24, 2017), as
significant tax regulations requiring addi-
tional review pursuant to Executive Order
13789. As part of that review, the Trea-
sury Department and the IRS are consid-
ering changes to the final regulations that
would allow taxpayers to elect to apply
alternative rules for transitioning to the
final regulations and alternative rules for
determining section 987 gain or loss.
II. BACKGROUND
A. FINAL AND TEMPORARY
REGULATIONS
On December 8, 2016, the Treasury
Department and the IRS published Trea-
sury Decision 9794 (see 81 Fed. Reg.
88806), which contains final regulations
relating to the determination of the taxable
income or loss of a taxpayer with respect
to a qualified business unit (QBU) subject
to section 987 (a section 987 QBU); the
timing, amount, character, and source of
any section 987 gain or loss; and amend-
ments to existing regulations under sec-
tions 861, 985, 988 and 989 (the final
regulations). On that same date, the Trea-
sury Department and the IRS also pub-
lished Treasury Decision 9795 (81 Fed.
Reg. 88854), which contains temporary
regulations under section 987, including
the following: rules relating to the recog-
nition and deferral of foreign currency
gain or loss under section 987 in connec-
tion with certain QBU terminations and
certain other transactions; an annual
deemed termination election for a section
987 QBU; an elective method, available to
taxpayers that make the annual deemed
termination election, for translating all
items of income or loss with respect to a
section 987 QBU at the yearly average
exchange rate; rules regarding the treat-
ment of section 988 transactions of a sec-
tion 987 QBU; rules regarding QBUs with
the U.S. dollar as their functional cur-
rency; rules regarding combinations and
separations of section 987 QBUs; rules
regarding the translation of income used
to pay creditable foreign income taxes;
and rules regarding the allocation of assets
and liabilities of section 987 aggregate
partnerships (the temporary section 987
regulations). Treasury Decision 9795 also
contains temporary regulations under sec-
tion 988 requiring the deferral of certain
section 988 loss that arises with respect to
related-party loans (the temporary section
988 regulations, and with the temporary
section 987 regulations, the temporary
regulations).
On October 16, 2017, the Treasury De-
partment and the IRS published Notice
2017–57, 2017– 42 I.R.B. 325 (October
16, 2017), which announced that the Trea-
sury Department and the IRS intend to
defer the applicability date of the final
regulations and the related temporary reg-
ulations by one year.
B. APPLICABILITY DATES
The final and temporary regulations
were effective on December 7, 2016.
Dates of applicability for §§ 1.987–1
through 1.987–10 are provided in
§ 1.987–11. Specifically, § 1.987–11(a)
states that, except as otherwise provided
in § 1.987–11, §§ 1.987–1 through
1.987–10 apply to taxable years begin-
ning on or after one year after the first
June 25, 2018Bulletin No. 2018–26
774

day of the first taxable year following
December 7, 2016.Corresponding provi-
sions under sections 861, 985, 988, and 989
also apply to taxable years beginning on or
after one year after the first day of the first
taxable year following December 7, 2016.
See§§ 1.861–9T(g)(2)(vi); 1.985–5(g);
1.988 –1(i);1.988 – 4(b)(2)(ii); 1.989(a)–
1(b)(4); 1.989(a)–1(d)(4). Following the
amendments to such regulations de-
scribed in Notice 2017–57, such regula-
tions would apply to taxable years be-
ginning on or after two years after the
first date of the first taxable year follow-
ing December 7, 2016.
Similarly, §§ 1.987–1T (other than
§§ 1.987–1T(g)(2)(i)(B) and (g)(3)(i)(H))
through 1.987– 4T, 1.987– 6T, 1.987–7T,
and 1.988 –1T (the related temporary reg-
ulations) apply to taxable years beginning
on or after one year after the first day of
the first taxable year following December
7, 2016.See§§ 1.987–1T(h); 1.987–
2T(e); 1.987–3T(f); 1.987– 4T(h); 1.987–
6T(d); 1.987–7T(d); 1.988 –1T(j). Follow-
ing the amendments to such regulations
described in Notice 2017–57, such regu-
lations would apply to taxable years be-
ginning on or after two years after the first
date of the first taxable year following
December 7, 2016.
All other provisions in the temporary
regulations, including the provisions relat-
ing to the deferral of section 987 gain or loss
and the temporary section 988 regulations,
are subject to different applicability dates.
See§§ 1.987–1T(h) (concerning §§ 1.987–
1T(g)(2)(i)(B) and (g)(3)(i)(H)); 1.987–
8T(g); 1.987–12T(j); 1.988 –2T(j).
A taxpayer may apply the final regula-
tions and the related temporary regula-
tions to taxable years beginning after De-
cember 7, 2016, provided the taxpayer
consistently applies those regulations to
such taxable years with respect to all sec-
tion 987 QBUs directly or indirectly
owned by the taxpayer on the transition
date as well as all section 987 QBUs di-
rectly or indirectly owned on the transi-
tion date by members that file a consoli-
dated return with the taxpayer or by any
controlled foreign corporation, as defined
in section 957, in which a member owns
more than 50 percent of the voting power
or stock value, as determined under
section 958(a). Sections 1.987–11(b);
1.987–1T(h); 1.987–2T(e); 1.987–3T(f);
1.987– 4T(h); 1.987– 6T(d); 1.987–7T(d);
1.988 –1T(j). The transition date is the
first day of the first taxable year to which
§§ 1.987–1 through 1.987–10 are applica-
ble with respect to a taxpayer under
§ 1.987–11. Section 1.987–11(c).
III. AMENDED APPLICABILITY
DATE
The Treasury Department and the IRS
intend to amend §§ 1.861–9T, 1.985–5,
1.987–11, 1.987–1T through 1.987– 4T,
1.987– 6T, 1.987–7T, 1.988 –1, 1.988 –1T,
1.988 – 4, and 1.989(a)–1 to provide that
the final regulations and the related tem-
porary regulations will apply to taxable
years beginning on or after the date that is
three years after the first day of the first
taxable year following December 7, 2016
(the amended applicability date). Thus,
following the amendments described in
this notice, for a taxpayer whose first tax-
able year after December 7, 2016, began
on January 1, 2017, the final regulations
would apply for the taxable year begin-
ning on January 1, 2020. The related tem-
porary regulations,which expire on De-
cember 6, 2019, will not become applicable.
However, the amended applicability date
will continue to apply for purposes of the
notice of proposed rulemaking by cross-
reference to the related temporary regula-
tions. See REG–128276 –12, 81 Fed. Reg.
88882 (December 8, 2016).
A taxpayer, however, may choose un-
der § 1.987–11(b) to apply the final regu-
lations and the related temporary regula-
tions to a taxable year beginning after
December 7, 2016 (subject to the condi-
tions in § 1.987–11(b)) and before the
amended applicability date.
The intended amendments would not
affect the applicability date of the tempo-
rary regulations other than the related
temporary regulations.
IV. TAXPAYER RELIANCE
Before the issuance of the amendments
to the final regulations and the related
temporary regulations described in section
III of this Notice, taxpayers may rely on
the provisions of this Notice regarding
those proposed amendments.
V. DRAFTING INFORMATION
The principal author of this Notice is
Steven D. Jensen of the Office of Associ-
ate Chief Counsel (International). For fur-
ther information regarding this Notice,
contact Steven D. Jensen at (202) 317-
6938 (not a toll-free number).
Bulletin No. 2018–26June 25, 2018
775

Part IV. Items of General Interest
Deletions From Cumulative
List of Organizations,
Contributions to Which are
Deductible Under Section
170 of the Code
Announcement 2018–10
Table of Contents
The Internal Revenue Service has re-
voked its determination that the organi-
zations listed below qualify as organiza-
tions described in sections 501(c)(3) and
170(c)(2) of the Internal Revenue Code
of 1986.
Generally, the IRS will not disallow
deductions for contributions made to a
listed organization on or before the date of
announcement in the Internal Revenue
Bulletin that an organization no longer
qualifies. However, the IRS is notpre-
cluded from disallowing a deduction for
any contributions made after an organi-
zation ceases to qualify under section
170(c)(2) if the organization has not
timely filed a suit for declaratory judg-
ment under section 7428 and if the con-
tributor (1) had knowledge of the revo-
cation of the ruling or determination
letter, (2) was aware that such revoca-
tion was imminent, or (3) was in part
responsible for or was aware of the ac-
tivities or omissions of the organization
that brought about this revocation.
If on the other hand a suit for declara-
tory judgment has been timely filed, con-
tributions from individuals and organiza-
tions described in section 170(c)(2) that
are otherwise allowable will continue to
be deductible. Protection under section
7428(c) would begin on June 25, 2018 and
would end on the date the court first de-
termines the organization is not described
in section 170(c)(2) as more particularly
set for in section 7428(c)(1). For individ-
ual contributors, the maximum deduction
protected is $1,000, with a husband and
wife treated as one contributor. This ben-
efit is not extended to any individual, in
whole or in part, for the acts or omissions
of the organization that were the basis for
revocation.
NAME OF ORGANIZATIONEffective Date of RevocationLOCATION
Young American Patriots Drum Corps, Inc.1/1/2012Rochester, NY
We Can Help Foundation1/1/2014Carson, CA
Emerald Equine Diagnostic Clinic1/1/2014Auburn, WA
Family Out-Reach Coalition1/1/2014Dallas, TX
Tomahawk Foundation1/1/2015Sarasota, FL
June 25, 2018Bulletin No. 2018–26
776

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. 2018–26June 25, 2018
i

Numerical Finding List
1
Bulletin 2018 –1 through 2018 –26
Announcements:
2018-01, 2018-9 I.R.B.387
2018-02, 2018-9 I.R.B.387
2018-03, 2018-9 I.R.B.387
2018-04, 2018-10 I.R.B.401
2018-05, 2018-13 I.R.B.461
2018-07, 2018-16 I.R.B.503
2018-08, 2018-19 I.R.B.552
2018-09, 2018-24 I.R.B.752
2018-10, 2018-26 I.R.B.776
Notices:
2018-01, 2018-3 I.R.B.285
2018-02, 2018-2 I.R.B.281
2018-03, 2018-2 I.R.B.285
2018-05, 2018-6 I.R.B.341
2018-06, 2018-3 I.R.B.300
2018-07, 2018-4 I.R.B.317
2018-08, 2018-7 I.R.B.352
2018-10, 2018-8 I.R.B.359
2018-11, 2018-11 I.R.B.425
2018-12, 2018-12 I.R.B.441
2018-13, 2018-6 I.R.B.341
2018-14, 2018-7 I.R.B.353
2018-15, 2018-9 I.R.B.376
2018-16, 2018-10 I.R.B.390
2018-17, 2018-9 I.R.B.376
2018-18, 2018-12 I.R.B.443
2018-19, 2018-12 I.R.B.443
2018-20, 2018-12 I.R.B.444
2018-21, 2018-15 I.R.B.472
2018-22, 2018-14 I.R.B.464
2018-23, 2018-15 I.R.B.474
2018-24, 2018-17 I.R.B.507
2018-25, 2018-15 I.R.B.476
2018-26, 2018-16 I.R.B.480
2018-27, 2018-20 I.R.B.580
2018-28, 2018-16 I.R.B.492
2018-29, 2018-16 I.R.B.495
2018-30, 2018-21 I.R.B.610
2018-31, 2018-16 I.R.B.501
2018-32, 2018-17 I.R.B.507
2018-33, 2018-17 I.R.B.508
2018-34, 2018-19 I.R.B.549
2018-35, 2018-18 I.R.B.520
2018-36, 2018-20 I.R.B.582
2018-37, 2018-18 I.R.B.521
2018-38, 2018-18 I.R.B.522
2018-39, 2018-20 I.R.B.582
2018-40, 2018-20 I.R.B.583
2018-41, 2018-20 I.R.B.584
2018-42, 2018-24 I.R.B.750
2018-43, 2018-20 I.R.B.590
2018-44, 2018-21 I.R.B.611
Notices:—Continued
2018-45, 2018-21 I.R.B.620
2018-46, 2018-21 I.R.B.621
2018-47, 2018-21 I.R.B.621
2018-49, 2018-22 I.R.B.624
2018-50, 2018-22 I.R.B.626
2018-51, 2018-22 I.R.B.628
2018-52, 2018-22 I.R.B.629
2018-53, 2018-22 I.R.B.631
2018-54, 2018-24 I.R.B.750
2018-55, 2018-26 I.R.B.773
2018-57, 2018-26 I.R.B.774
Proposed Regulations:
REG-119514-15, 2018-04 I.R.B.325
REG-102951-16, 2018-25 I.R.B.755
REG-129260-16, 2018-14 I.R.B.470
REG-118067-17, 2018-08 I.R.B.360
REG-132197-17, 2018-10 I.R.B.404
REG-132197-17, 2018-10 I.R.B.404
REG-132434-17, 2018-16 I.R.B.503
Revenue Procedures:
2018-1, 2018-1 I.R.B.1
2018-2, 2018-1 I.R.B.106
2018-3, 2018-1 I.R.B.130
2018-4, 2018-1 I.R.B.146
2018-5, 2018-1 I.R.B.244
2018-7, 2018-1 I.R.B.282
2018-8, 2018-2 I.R.B.286
2018-9, 2018-2 I.R.B.290
2018-10, 2018-7 I.R.B.355
2018-11, 2018-5 I.R.B.334
2018-12, 2018-6 I.R.B.349
2018-13, 2018-7 I.R.B.356
2018-14, 2018-9 I.R.B.378
2018-15, 2018-9 I.R.B.379
2018-16, 2018-9 I.R.B.383
2018-17, 2018-9 I.R.B.384
2018-18, 2018-10 I.R.B.392
2018-19, 2018-14 I.R.B.466
2018-20, 2018-11 I.R.B.427
2018-21, 2018-14 I.R.B.467
2018-22, 2018-18 I.R.B.524
2018-23, 2018-17 I.R.B.516
2018-24, 2018-18 I.R.B.525
2018-25, 2018-18 I.R.B.543
2018-26, 2018-18 I.R.B.546
2018-27, 2018-20 I.R.B.591
2018-28, 2018-20 I.R.B.592
2018-29, 2018-22 I.R.B.634
2018-30, 2018-21 I.R.B.622
2018-31, 2018-22 I.R.B.637
2018-32, 2018-23 I.R.B.739
2018-33, 2018-22 I.R.B.734
2018-34, 2018-23 I.R.B.748
Revenue Rulings:
2018-01, 2018-2 I.R.B.275
2018-02, 2018-2 I.R.B.277
2018-03, 2018-2 I.R.B.278
2018-04, 2018-4 I.R.B.304
2018-05, 2018-6 I.R.B.339
2018-06, 2018-10 I.R.B.388
2018-07, 2018-13 I.R.B.445
2018-09, 2018-14 I.R.B.462
2018-10, 2018-16 I.R.B.477
2018-11, 2018-18 I.R.B.518
2018-12, 2018-20 I.R.B.575
2018-13, 2018-20 I.R.B.576
2018-14, 2018-23 I.R.B.736
2018-15, 2018-23 I.R.B.736
2018-16, 2018-23 I.R.B.737
2018-17, 2018-25 I.R.B.753
2018-18, 2018-26 I.R.B.758
Treasury Decisions:
9829, 2018-04 I.R.B.308
9830, 2018-11 I.R.B.423
9831, 2018-13 I.R.B.459
9832, 2018-16 I.R.B.477
1
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2017–27 through 2017–52 is in Internal Revenue Bulletin
2017–52, dated December 27, 2017.
June 25, 2018Bulletin No. 2018–26
ii

Finding List of Current Actions on
Previously Published Items
1
Bulletin 2018 –1 through 2018 –26
Notices:
2003-65
Modified by
Notice 2018-30, 2018-21 I.R.B.610
1
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2017–27 through 2017–52 is in Internal Revenue Bulletin
2017–52, dated December 27, 2017.
Bulletin No. 2018–26June 25, 2018
iii

INTERNAL REVENUE BULLETIN
The Introduction at the beginning of this issue describes the purpose and content of this publication. The weekly Internal Revenue
Bulletins are available atwww.irs.gov/irb/.
We Welcome Comments About the Internal Revenue Bulletin
If you have comments concerning the format or production of the Internal Revenue Bulletin or suggestions for improving it, we
would be pleased to hear from you. You can email us your suggestions or comments through the IRS Internet Home Page
(www.irs.gov) or write to the Internal Revenue Service, Publishing Division, IRB Publishing Program Desk, 1111 Constitution Ave.
NW, IR-6230 Washington, DC 20224.
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Washington, DC 20224
Official Business
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