INCOME TAX

Rev. Rul. 99–26, page 36. LIFO; price indexes; department stores. The April 1999 Bureau of Labor Statistics price indexes are accepted for use by department stores employing the retail inventory and last-in, first-out inventory methods for valuing inventories for tax years ended on, or with reference to, April 30, 1999.

T.D. 8820, page 3. Final regulations under section 467 of the Code relate to the treatment of rent and interest under certain agreements for the lease of tangible property.

Announcement 99–57, page 50. Roth-IRAs; recharacterization. This announcement describes the period of time during which 1998 Roth IRA contributions may be recharacterized and how to accomplish those recharacterizations.