Rev. Proc. 62-24

SECTION 1. PURPOSE.

The purpose of this Revenue Procedure is to announce a program for (1) the review of Revenue Rulings and Revenue Procedures issued under the provisions of Chapter 15 of the Internal Revenue Code of 1939 and Chapter 52 of the Internal Revenue Code of 1954 and (2) the issuance of revisions to reflect current provisions of the law and related regulations.

SEC. 2. BACKGROUND.

.01 Public Law 591, 83d Cong., approved August 16, 1954, and Public Law 85-859, 85th Cong., C.B. 1958-3, 92, approved September 2, 1958, made many changes in the laws administered by the Alcohol and Tobacco Tax Division.

.02 All Revenue Rulings and Revenue Procedures issued under the provisions of Chapter 52 of the 1954 Code and corresponding provisions of the 1939 Code have been reviewed to identify those that are considered to be obsolete either because they have no application to the law and regulations now in effect or are unnecessary because the subject matter of the ruling is now specifically covered by regulations. Revenue Ruling 62-172, page 352, contains a list of those Revenue Rulings and Revenue Procedures which are no longer in effect and declares them to be obsolete.

SEC. 3. REVENUE RULINGS AND REVENUE PROCEDURES TO BE REPUBLISHED.

A current study is being made of the remaining Revenue Rulings and Revenue Procedures to identify those that require revision to reflect present law and regulations and to prepare and publish the ensuing revisions.

SEC. 4. INQUIRIES.

Inquiries regarding this Revenue Procedure, as well as comments regarding any particular Revenue Ruling or Revenue Procedure issued under Chapter 15 of the 1939 Code or Chapter 52 of the 1954 Code should refer to its number and be addressed to the Director, Alcohol and Tobacco Tax Division, Washington 25, D.C.