INCOME TAX

Rev. Rul. 2000–4, page 331. Business expenses; capital expenditures; ISO 9000 costs. Cost incurred by a taxpayer to obtain, maintain, and renew ISO 9000 certification are deductible as ordinary and necessary business expenses under section 162 of the Code, except to the extent they result in the creation or acquisition of an asset having a useful life substantially beyond the taxable year (e.g., a quality manual). Rev. Proc. 99–49 modified and amplified.

T.D. 8853, page 377. Final regulations under section 7701(l) of the Code recharacterize fast-pay stock arrangements. The regulations also impose reporting requirements on certain participants in fast-pay stock arrangements.

T.D. 8857, page 365. Final regulations under section 832(b) of the Code relate to the determination of underwriting income by insurance companies other than life insurance companies by providing guidance for purposes of determining the amount of unearned premiums that are subject to the 20 percent reduction rule.

T.D. 8858, page 332. Temporary regulations revise the rules governing allocation of purchase price in deemed and actual asset acquisitions, and other rules, under sections 338 and 1060 of the Code.

Finding Lists begin on page ii.

Department of the Treasury Internal Revenue Service