INCOME TAX

Rev. Rul. 2006–8, page 520. LIFO; price indexes; department stores. The December 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, December 31, 2005.

Rev. Rul. 2006–9, page 519. Section 45 credit offset . The credit under section 45 of the Code for electricity produced from qualified energy resources at a qualified facility is not reduced under section 45(b)(3) on account of a state or local tax credit.

T.D. 9246, page 534. Some business entities may be recognized under state or foreign law as created or organized in more than one jurisdiction at the same time (“dually chartered entities”). Final regulations under section 7701 of the Code provide clarification regarding how to determine the federal tax classification ( e.g., corporation, partnership, or an entity disregarded as separate from its owner) of a dually chartered entity and how to determine whether a dually chartered entity is domestic or foreign.

T.D. 9247, page 521. Final and temporary regulations under section 861 of the Code provide an alternative method of valuing assets for purposes of apportioning expenses under the tax book value method of regulations section 1.861–9T.

T.D. 9248, page 524. Final and temporary regulations under section 937 of the Code provide rules for determining whether an individual is a bona

Finding Lists begin on page ii. Index for January through February begins on page iv.