INCOME TAX — Internal Revenue Bulletin 2000-46

Rev. Rul. 2000–51, page 469. LIFO; price indexes; department stores. The September 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, September 30, 2000.

T.D. 8906, page 470. Final regulations under section 752 of the Code relate to the allocation of nonrecourse liabilities by a partnership.

Rev. Proc. 2000–47, page 482. This procedure informs the public of the Service’s decision to reconsider its interpretation of section 29(c)(1)(C) of the Code and to issue no further private letter rulings regarding whether a solid fuel (other than coke and solid fuel produced from waste coal fines) is a qualified fuel under section 29(c)(1)(C) pending its reconsideration. Public comments regarding the proper interpretation of section 29(c)(1)(C) are requested by November 27, 2000. Rev. Proc. 2000–3 amplified.

Finding Lists begin on page ii.

Department of the Treasury Internal Revenue Service