INCOME TAX

Rev. Rul. 2001–13, page 898. Fringe benefits aircraft valuation formula. The Standard Industry Fare Level (SIFL) cents-per-mile rates and terminal charges in effect for the first half of 2001 are set forth for purposes of determining the value of noncommercial flights on employer-provided aircraft under section 1.61-21(g) of the regulations.

Rev. Rul. 2001–14, page 898. LIFO; price indexes; department stores. The January 2001 Bureau of Labor Statistics price indexes are accepted for use by department stores employing the retail inventory and last-in, firstout inventory methods for valuing inventories for tax years ended on, or with reference to, January 31, 2001.

T.D. 8934, page 904. Final regulations under section 1275 of the Code determine when debt instruments, including Treasury securities, sold in a reopening are part of the same issue as an issue of previously sold debt instruments.

REG–125237–00, page 919. Proposed regulations under section 1275 of the Code provide guidance on the treatment of annuity contracts issued by an insurance company subject to tax under subchapter L. A public hearing is scheduled for May 30, 2001.

Notice 2001–24, page 912. The “differential earnings rate” under section 809 of the Code is tentatively determined for 2000 together with the “recomputed differential earnings rate” for 1999.

Finding Lists begin on page ii.

Department of the Treasury Internal Revenue Service