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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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