INCOME TAX

T.D. 8994, page 1078. Final regulations under sections 444, 641, 1361, 1362, and 1377 of the Code relate to the qualification and taxation of electing small business trusts (ESBTs), and to the definition of deferral entities for purposes of electing a taxable year other than the required taxable year. Notices 97–12 and 97–49 and Rev. Proc. 98–23 superseded.

T.D. 8995, page 1070. Final regulations under section 460 of the Code provide rules applicable when there is a mid-contract change in the taxpayer accounting for a long-term contract that has been under a longterm contract method of accounting.

Notice 2002–37, page 1095. This notice announces that regulations will be issued addressing partnership transactions involving contracts accounted for under a long-term contract method of accounting.