Rev. Proc. 82-41

Section 1. Background

Rev. Proc. 82-22, 1982-1 C.B. 469, sets forth areas in which advance rulings or determination letters will not be issued by the Internal Revenue Service. Section 4 of Rev. Proc. 82-22 is entitled, Areas In Which Rulings Or Determination Letters Will Not Ordinarily Be Issued.

Sec. 2. Procedure

Rev. Proc. 82-22 is hereby amended by adding the following to section 4.01:

Section 162--Trade or Business Expenses--Whether the requisite risk shifting and risk distribution necessary to constitute insurance are present for purposes of determining the deductibility under section 162 of amounts paid (premiums) by a taxpayer for insurance, unless the facts of the transaction are within the scope of Rev. Rul. 77-316, 1977-2 C.B. 53, or Rev. Rul. 78-338, 1978-2 C.B. 107.

Section 801--Definition of Life Insurance Company--Whether the requisite risk shifting and risk distribution necessary to constitute insurance are present for purposes of determining if a company is an "insurance company" under section 1.801-3(a) of the regulations, unless the facts of the transaction are within the scope of Rev. Rul. 77-316, 1977-2 C.B. 53, or Rev. Rul. 78-338, 1978-2 C.B. 107.

Sec. 3. Effective Date

This revenue procedure will apply to all ruling requests on hand in the National Office on July 26, 1982, the date of publication of this revenue procedure in the Internal Revenue Bulletin, as well as to requests received thereafter.

Sec. 4. Effect on Other Revenue Procedures

Rev. Proc. 82-22 is amplified.