INCOME TAX — Internal Revenue Bulletin 2000-8

Rev. Rul. 2000–10, page 643. LIFO; price indexes; department stores. The December 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, December 31, 1999.

T.D. 8870, page 647. Final regulations under section 1295 of the Code relate to making and maintaining qualified electing fund (QEF) elections. Notices 88–125 and 98–22 obsoleted.

T.D. 8872, page 639. REG–209135–88, page 681. Temporary and proposed regulations under section 337(d) of the Code provide guidance with respect to the built-in gain of C corporation assets that become assets of a Regulated Investment Company (RIC) or a Real Estate Investment Trust (REIT) by (1) the qualification of the corporation as RIC or REIT or (2) the transfer of assets to a RIC or REIT in a carryover basis transaction. A public hearing on the proposed regulations is scheduled for May 10, 2000.

Finding Lists begin on page ii.

Department of the Treasury Internal Revenue Service