SECTION 2. CHANGES

.01 This revenue procedure reflects the unpublished corrections made by the Bureau of Labor Statistics (BLS) in the Consumer Price Index for All Urban Consumers (CPI-U) for September 1999 through December 1999 that will be re

quired if the Taxpayer Relief Act of 2000 is enacted. The 2000 Act passed the House as H.R. 2614 on October 26, 2000. A provision having the same effect is contained in the Community Renewal Tax Relief Act of 2000 pending in the Congress as of the date of publication of this revenue procedure. Specific items that

2001–3 I.R.B. 337 January 16, 2001

would be affected by the legislation are:

(1) the tax rate tables (set forth in section 3.01 of this revenue procedure);

(2) certain figures relating to the earned income tax credit (section 3.03);

(3) the aggregate amount of gifts received from foreign persons for purposes of information reporting § 6039F (section 3.22); and

(4) the amount used to determine the validity of certain tax liens under

§ 6323(b)(7) (section 3.23).

.02 Part I of section 3 of this revenue procedure reflects the figures that will apply if the legislation is enacted. Part II of section 3 provides the alternative figures for items affected by the legislation that will apply in the event that the 2000 Act is not enacted. The Service will issue subsequent notification clarifying whether the amounts set forth in Part I or Part II are applicable for 2001.

.03 There are no changes from the preceding year in the list of items adjusted.

SECTION 3. 2001 ADJUSTED ITEMS