Rev. Proc. 58-15

Revenue Ruling 54-349, C.B. 1954-2, 122, relates to the inspection by State governments of Federal income tax returns and related documents, the furnishing to State governments of copies of such returns and documents, and the furnishing to State governments of abstracts of data from such returns and documents. Section 4.03 of Revenue Ruling 54-349, supra , provides that charges will be made for abstract service at the rate of $1.50 per hour for time spent preparing the abstracts.

This rate was established a number of years ago, at which time it bore an adequate relation to the expense incurred in furnishing the service. Since that time there has been an increase in the expense and the charge is now considerably out of line with the actual cost of furnishing this service. Accordingly, with respect to all transcripts prepared on or after January 1, 1959, the rate will be $2.50 per hour.

Revenue Ruling 54-349, C.B. 1954-2, 122, is hereby modified to reflect the increased change of $2.50 per hour for the preparation of abstracts of Federal income tax returns and documents for State governments.