INCOME TAX

Rev. Rul. 2002–56, page 526. Fringe benefits aircraft valuation formula . The Standard Industry Fare Level (SIFL) cents-per-mile rates and terminal charges in effect for the second half of 2002 are set forth for purposes of determining the value of noncommercial flights on employerprovided aircraft under section 1.61–21(g) of the regulations.

Rev. Rul. 2002–57, page 526. LIFO; price indexes; department stores . The July 2002 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, July 31, 2002.