INCOME TAX

Rev. Rul. 2017–01, page 377. Section 995(f) of the Internal Revenue Code requires the IRS to annually publish a “base period T-bill rate” with which a shareholder of an interest charge domestic international sales corporation (IC-DISC) calculates the interest due on their IC-DISCrelated deferred tax liability for the year. Revenue Ruling 2017–01 sets forth the base period T-bill rate as determined by the Office of Debt Management within the Treasury Department for the period ending September 30, 2016, and provides a table of factors compounded daily for taxpayers with short or alternative taxable years.

Notice 2017–06, page 422. Notice 2017–6 waives the eligibility rule for one more year (to any taxable year beginning before January 1, 2017) for taxpayers making certain automatic changes to utilize the final tangible property regulations under §§ 162(a) and 263(a) of the Internal Revenue Code (and for making certain automatic changes to comply with the final depreciation and disposition regulations under § 168). The eligibility rule, set out in section 5.01(1)(f) of Rev. Proc. 2015–13, 2015–5 I.R.B. 419, prohibits taxpayers from making certain automatic changes in accounting methods if they applied or made a change in accounting method for the same item during any of the five taxable years ending with the year of change. This notice provides an additional year’s waiver of that requirement for making certain automatic method changes under these final regulations.

Finding Lists begin on page ii.