INCOME TAX

Rev. Rul. 99–30, page 24. LIFO; price indexes; department stores. The May 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, May 31, 1999.

T.D. 8825, page 19. Final and temporary regulations under section 382 of the Code relate to limitations on net operating loss carryovers and certain built-in losses following an ownership change of a corporation.