HIGHLIGHTS OF THIS ISSUE

These synopses are intended only as aids to the reader in identifying the subject matter covered. They may not be relied upon as authoritative interpretations.

SPECIAL ANNOUNCEMENT

Announcement 2004–93, page 882. This announcement solicits applications from potential partners to participate in the 2005 IRS Individual e-file Partnership Program. The partnership opportunities are a result of RRA 98, which requires the IRS to receive 80 percent of all returns electronically by 2007. RRA 98 authorized the IRS Commissioner to promote the benefits and encourage the use of e-file services through partnerships with various entities that offer low cost tax preparation and electronic filing of individual income tax returns for qualified taxpayers. Those applicants that are accepted as partners will have a link(s) and description(s) of their services placed on the IRS website at www.irs.gov (Partners Page).

INCOME TAX

Rev. Rul. 2004–105, page 873. LIFO; price indexes; department stores. The September 2004 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, September 30, 2004.

EMPLOYEE PLANS

Notice 2004–78, page 879. Actuarial assumptions; distributions under section 101 of Pension Funding Equity Act of 2004. This notice provides guidance in question and answer format on the use of actuarial assumptions in determining certain single sum dis

Announcements of Disbarments and Suspensions begin on page 885. Finding Lists begin on page ii. Index for July through November begins on page vi.