Rev. Rul. 61-166

The Internal Revenue Service has reconsidered Revenue Ruling 60-381, C.B. 1960-2, 509. That Revenue Ruling holds that the 20-year bonding period limitation applicable to distilled spirits under section 5006(a)(2) of the Internal Revenue Code of 1954 is not applicable to distilled spirits which were distilled at and entered for deposit into bonded storage at 190 degrees or more of proof but subsequently reduced in proof below 190 degrees.