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the Commissioner. Rather, as noted supra, they describe “rules
and standards” that the IRS and Treasury “expect to propose” (not
final rules and standards), and they invite public comments
“regarding those standards”. Although they suggest that a
deduction for “all employee compensation” (which would include
ACC’s loan origination/acquisition costs) might be proper, that
approach is only one of several alternative approaches to the
treatment of employee compensation suggested therein; and
deductibility of ACC’s professional fees under the 12-month rule
is, at best, unclear, as those costs are not among the costs
specifically referred to as deductible when they fall within the
12-month rule. Moreover, to conclude that the ANPRM and
Announcement 2002-9 constitute “applicable published guidance”
under section 7430(c)(4)(B)(iv), binding on respondent with
respect to the capitalization rules discussed therein, would be
to negate the December 31, 2003, effective date provided in the
final INDOPCO regulations and anticipated in the proposed
regulations, a date that respondent has uniformly enforced in
connection with requests to change to a method of accounting
provided by the final regulations (and, in particular, by section
1.263(a)-4(f)(1), Income Tax Regs., which sets forth the 12-month
rule). See Rev. Proc. 2004-23, sec. 2.07, 2004-1 C.B. 785, 786.
Under section 7430(c)(4)(B)(iv), “notices” and
“announcements” are included in the list of IRS pronouncements
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