Common use of Because Rev Clause in Contracts

Because Rev. Proc. 2001-22 limited the eligible years for the PFA program to current or prior taxable years for which returns were neither due nor filed, taxpayers and the Service could not resolve issues for multiple future taxable years or issues regarding appropriate methodologies for determining tax consequences that would affect future taxable years. The Service has determined that expanding the scope of the PFA program by allowing taxpayers and the Service to address certain issues over a limited number of future taxable years will significantly benefit both taxpayers and the Service.

Because Rev. Proc. 2001-22 limited the eligible years for the PFA program to current or prior taxable years for which tax returns were neither due nor filed, taxpayers and the Service could not resolve issues for multiple future taxable years or issues regarding appropriate methodologies for determining tax consequences that would affect future taxable years. The In Rev. Proc. 2005-12, 2005-2 I.R.B. 311, the Service has determined that expanding expanded the scope of the PFA program by allowing taxpayers and the Service to address certain issues over a limited number of future taxable years will significantly benefit both taxpayers years. In addition, the Service revised the domestic and international issues eligible for the ServicePFA program.

Because Rev. Proc. 2001-22 limited the eligible years for the PFA program to current or prior taxable years for which returns were neither due nor filed, taxpayers and the Service could not resolve issues for multiple future taxable years or issues regarding appropriate methodologies for determining tax consequences that would affect future taxable years. The In Rev. Proc. 2005-12, the Service has determined that expanding expanded the scope of the PFA program by allowing taxpayers and the Service to address certain issues over a limited number of future taxable years will significantly benefit both taxpayers years. In addition, the Service revised the domestic and international issues eligible for the ServicePFA program.

Because Rev. Proc. 2001-22 limited the eligible years for the PFA program to current or prior taxable years for which returns were neither due nor filed, taxpayers and the Service could not resolve issues for multiple future taxable years or issues regarding appropriate methodologies for determining tax consequences that would affect future taxable years. The Service has determined that expanding the scope of the PFA program by allowing taxpayers and the Service to address certain issues over a limited number of future taxable years will significantly benefit both taxpayers and the Service.

Because Rev. Proc. 2001-22 limited 2001–22 lim- ited the eligible years for the PFA program to current or prior taxable years for which returns were neither due nor filed, taxpayers taxpay- ers and the Service could not resolve issues for multiple future taxable years or issues regarding appropriate methodologies for determining tax consequences that would affect future taxable years. The Service has determined that expanding the scope of the PFA program by allowing taxpayers taxpay- ers and the Service to address certain issues is- sues over a limited number of future taxable tax- able years will significantly benefit both taxpayers and the Service.