Rev. Proc. 82-67

Section 1. Purpose

In this revenue procedure, the Assistant Secretary (Tax Policy) of the Treasury prescribes certain changes in the Class Life Asset Depreciation Range System.

The purpose is to revise the asset guideline period for assets included in class 48.12 (Telephone Central Office Equipment). This revision is adopted pursuant to section 1.167(a)-11 of the Income Tax Regulations. The revised asset guideline period is set out in Section 2 of this revenue procedure.

Sec. 2. Asset Guideline Class and Asset Guideline Period

The asset guideline class and asset guideline period are prescribed as set forth below.

Asset Asset Guide- Guideline line Period (in Class Description of Assets Included years) --------------------------------------------------------------------- 48.12 Telephone Central Office Equipment

Includes central office switching and related equipment as defined in Federal Communications Commission Part 31 Account No. 221 __________________________________________ 18

Sec. 3. Effect on Other Documents

Rev. Proc. 77-10, 1977-1 C.B. 548, as modified, is further modified by prescription of a revised asset guideline period for asset guideline class 48.12 (Telephone Central Office Equipment).

Sec. 4. Effective Date

The revision set forth in this revenue procedure is effective as of January 1, 1981.