INCOME TAX

Rev. Rul. 2000–43, page 333. Charitable contributions; S corporations; section 170- (a)(2). An accrual-basis S corporation may not elect under section 170(a)(2) of the Code to treat a charitable contribution as paid in the year authorized by the S corporation’s board of directors if the contribution is paid by the S corporation after the close of the tax year.

Rev. Rul. 2000–44, page 336. Transactions between partner and partnership. A corporation that acquires assets of another corporation in a transaction described in section 381(a) of the Code succeeds to the status of the other corporation for purposes of applying the exception for reimbursements of preformation expenditures and determining whether a liability is a qualified liability under the regulations regarding the disguised sale provisions of section 707(a)(2)(B).

Rev. Rul. 2000–45, page 337. Federal rates; adjusted federal rates; adjusted federal long-term rate, and the long-term exempt rate. For purposes of sections 1274, 1288, 382, and other sections of the Code, tables set forth the rates for October 2000.

Rev. Rul. 2000–46, page 334. LIFO; price indexes; department stores. The August 2000 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, August 31, 2000.