INCOME TAX

Rev. Rul. 2002–4, page 389. LIFO; price indexes; department stores. The November 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, November 30, 2001.

T.D. 8973, page 391. Final regulations under section 865(j)(1) of the Code relate to the allocation of loss recognized on the disposition of stock and other personal property.

T.D. 8975, page 379. REG–142299–01, REG–209135–88, page 418. Temporary and proposed regulations apply to certain transactions or events that result in a Regulated Investment Company (RIC) or a Real Estate Investment Trust (REIT) owning property that has a basis determined by reference to a C corporation’s basis in the property. These regulations clarify the tax treatment of transfers of C corporation property to a RIC or REIT.

Notice 2002–8, page 398. Split-dollar life insurance arrangements. This notice announces that the Treasury and the Service intend to publish proposed regulations providing comprehensive guidance on the Federal tax treatment of split-dollar life insurance arrangements. In addition, this notice indicates that any regulations will not be effective until the publication date of the final regulations, and provides information on the tax treatment of splitdollar life insurance arrangements entered into prior to the effective date of final regulations. Notice 2001–10 revoked. Rev. Rul. 55–747 revoked, Rev. Ruls. 64–328 and 66–110 modified.

Finding Lists begin on page ii.