Lucky Stores, Inc. and Subsidiaries - Page 27

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               Having thus seemingly emasculated Rev. Rul. 76-28 as it                
          might otherwise apply to a vast number of employee benefit plans            
          if the TAM were applied across the board, the TAM concludes,                
          however, by saying that "This ruling does not consider the actual           
          amounts deductible for the * * * [relevant] taxable year."                  
          Petitioner does not mention this pronouncement.                             
               Rev. Rul. 76-28 provides that a grace period contribution is           
          to be considered "on account of" (the words of section 404(a)(6))           
          the preceding taxable year if the contribution is treated by the            
          plan in the same manner that the plan would treat a payment                 
          actually received on the last day of such preceding taxable year.           
          The TAM states that "A contribution generally does not have any             
          effect on the actual benefits payable to an employee."                      
          Petitioner argues that all contributions to each CBA Plan in this           
          case were commingled with all other employers' contributions in a           
          single undifferentiated pool and used to pay plan benefits and              
          expenses without distinction as to when or by whom any                      
          contribution was made.  Thus, reasons petitioner, it follows that           
          any grace period contribution is treated by the plan in the same            
          manner as the plan would treat a "last day" contribution.                   
               We are not convinced that the absence of a contribution-               
          benefit linkage establishes "same treatment", nor that the same             

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