Nonliquidating

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Generally, an Action on Decision is issued where its guidance would be helpful to Service personnel working with the same or similar issues.Unlike a Treasury Regulation or a Revenue Ruling, an Action on Decision is not an affirmative statement of Service position.Caution should be exercised in extending the recommendation of the Action on Decision to similar cases where the facts are different.Moreover, the recommendation in the Action on Decision may be superseded by new legislation, regulations, rulings, cases, or Actions on Decisions.Accordingly, the Service now may acquiesce or nonacquiesce in the holdings of memorandum Tax Court opinions, as well as those of the United States District Courts, Claims Court, and Circuit Courts of Appeal.Regardless of the court deciding the case, the recommendation of any Action on Decision will be published in the Internal Revenue Bulletin.In reference to an opinion of a circuit court of appeals, a “nonacquiescence” indicates that the Service will not follow the holding on a nationwide basis.However, the Service will recognize the precedential impact of the opinion on cases arising within the venue of the deciding circuit.

This procedure provides a safe harbor under which companies taxable under Subchapter L do not have to include any portion of the increase for the taxable year in policy cash values of life insurance contracts described in section 264(f)(4)(A) of the Code (ICOLI Contracts) for purposes of applying the insurance company proration rules in sections 807(a)(2), 807(b)(1), 805(a)(4), 812, or 832(b)(5). In those based on positions taken in rulings to taxpayers or technical advice to Service field offices, identifying details and information of a confidential nature are deleted to prevent unwarranted invasions of privacy and to comply with statutory requirements.

The recommendation in every Action on Decision will be summarized as acquiescence, acquiescence in result only, or nonacquiescence.

Both “acquiescence” and “acquiescence in result only” mean that the Service accepts the holding of the court in a case and that the Service will follow it in disposing of cases with the same controlling facts.

Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co.

Final regulations under section 1045 of the Code relate to partnerships and their partners. , at the Kansas City Service Center after December 31, 2007. The last Bulletin for each month includes a cumulative index for the matters published during the preceding months.

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