INCOME TAX

Executive Order 13239, page 632. Afghanistan designated as combat zone. By this executive order, Afghanistan (and its airspace) is designated as a combat zone beginning September 19, 2001.

Rev. Rul. 2001–64, page 640. CPI adjustment for below-market loans for 2002. The amount that section 7872(g) of the Code permits a taxpayer to lend to a qualified continuing care facility without incurring imputed interest is published and adjusted for inflation for years 1987–2002. Rev. Rul. 2000–56 supplemented and superseded.

Rev. Rul. 2001–65, page 639. Section 1274A, inflation-adjusted numbers for 2002. This ruling provides the dollar amounts, increased by the 2002 inflation adjustment, for section 1274A of the Code. Rev. Rul. 2000–55 supplemented and superseded.

Rev. Rul. 2001–66, page 637. LIFO; price indexes; department stores. The October 2001 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, October 31, 2001.