INCOME TAX

Rev. Rul. 2000–54, page 566. Federal rates; adjusted federal rates; adjusted feder- al 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 December 2000.

T.D. 8907, page 558. Final regulations clarify the tax consequences for the amortization of intangibles under section 197 of the Code in the context of partnership basis adjustments.

Notice 2000–60, page 568. Stock compensation corporate tax shelter. This notice alerts taxpayers and their representatives that losses generated by transactions involving the purchase of a parent corporation’s stock by a subsidiary, a subsequent transfer of the purchased parent stock from the subsidiary to the parent’s employees, and the eventual liquidation or sale of the subsidiary are not properly allowable for federal income tax purposes. This notice also alerts taxpayers and their representatives of certain responsibilities that may arise from participation in such transactions.

Finding Lists begin on page ii. Index for July through November begins on page iv.

Department of the Treasury Internal Revenue Service