INCOME TAX

Rev. Rul. 2005–79, page 1197. LIFO; price indexes; department stores. The October 2005 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, 2005.

Notice 2005–93, page 1204. This notice contains a proposed revenue procedure that would provide guidance to tax return preparers regarding the format and content of consents to use and consents to disclose tax return information under proposed section 301.7216–3 of the regulations, which was filed with the Federal Register contemporaneously with the public release of this notice on December 7, 2005. The proposed revenue procedure would also provide specific requirements for electronic signatures when a taxpayer executes an electronic consent to the use or disclosure of the taxpayer’s tax return information.

Notice 2005–97, page 1210. This notice requests comments on possible changes to Rev. Proc. 2002–9, which provides the procedures for taxpayers to request automatic consent from the Commissioner to change to certain methods of accounting.

Notice 2005–98, page 1211. This notice solicits applications for allocations of the clean renewable energy bond limitation under section 54(f) of the Code and provides guidance with respect to the issuance and post issuance compliance of clean renewable energy bonds.

Finding Lists begin on page ii. Index for July through December begins on page vi.