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What does REV PROC stand for?

REV PROC stands for Revenue Procedure (IRS)

This definition appears very frequently

Samples in periodicals archive:

With Revenue Procedure 2011-35 issued May 31, the Service updated and revised methods by which an acquiring corporation may establish its basis in the stock of a target corporation in a type B reorganization under IRC [section] 368(a)(1)(B) or other transferred basis transaction.
At long last, the IRS has issued a Revenue Procedure which provides a "safe harbor" to taxpayers seeking to perform a [Section] 1031 exchange with real property held primarily for investment but partially used by the taxpayer for personal enjoyment.
Business Editors LOS ANGELES--(BUSINESS WIRE)--May 14, 2002 Declaring the new IRS Revenue Procedure 2002-21 "very, very good news for PEOs -- and a wonderful alternative to plan disqualification," Transamerica Retirement Services' Vice President and Plan Compliance Director Emily Urbano spoke out today about the impact the new procedure will have on Professional Employer Organizations (PEOs) that must convert or terminate single-employer retirement plans to ensure that only its employees receive benefits offered through those plans.
[The 2003] regulations presented many challenges to taxpayers, particularly the elimination of the cost safe harbor and its replacement with the simplified cost-based method," she stated, "and TEI is gratified that the government responded to TEI's--and other groups'--concems by, among other things, replacing the SCBM method with a services cost method under which covered services may be charged out at cost and proposing a revenue procedure detailing 'specified covered services" eligible for the SCM.