INCOME TAX

Rev. Rul. 2006-59(HTML)
LIFO; price indexes; department stores. The September 2006 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, 2006.

T.D. 9293(HTML)
REG-127819-06(HTML)
Final, temporary, and proposed regulations under section 199 of the Code concern the amendments made by the Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA) to section 199, which provides a deduction for income attributable to domestic production activities. A public hearing on the proposed regulations is scheduled for February 5, 2007.

REG-110405-05(HTML)
Proposed regulations provide guidance regarding the application of section 362(e)(2) of the Code to determine the bases of assets and stock transferred in certain nonrecognition transactions. They also provide instructions on how to make an election to apply section 362(e)(2)(C).

Rev. Proc. 2006-52(HTML)
This procedure informs plan proponents in cases under chapter 12 of Title 11 of the United States Code of the procedures to be followed to request determinations of the income tax effects of proposed plans when such requests are authorized by the bankruptcy courts.

Rev. Proc. 2006-53(HTML)
Cost-of-living adjustments for 2007. This procedure sets forth the cost-of-living adjustments to certain items for 2007 as required under various provisions of the Code. Rev. Proc. 2002-41 modified.

Rev. Rul. 2006-60(HTML)
2007 covered compensation tables; permitted disparity. The covered compensation tables under section 401 of the Code for the year 2007 are provided for use in determining contributions to defined benefit plans and permitted disparity.

T.D. 9294(HTML)
Final regulations under section 401 of the Code set forth standards for electronic systems that make use of an electronic medium to provide a notice to a recipient, or to make a participant election or consent, with respect to a retirement plan, an employee benefit plan, or an individual retirement plan.

Notice 2006-104(HTML)
Weighted average interest rate update; corporate bond indices; 30-year Treasury securities. The weighted average interest rate for November 2006 and the resulting permissible range of interest rates used to calculate current liability and to determine the required contribution are set forth.

Announcement 2006-92(HTML)
A list is provided of organizations now classified as private foundations.

Announcement 2006-93(HTML)
This document explains the procedures that 501(c)(3) tax-exempt organizations may use to request a change in their public charity classification.

ESTATE TAX

Rev. Proc. 2006-53(HTML)
Cost-of-living adjustments for 2007. This procedure sets forth the cost-of-living adjustments to certain items for 2007 as required under various provisions of the Code. Rev. Proc. 2002-41 modified.

GIFT TAX

Rev. Proc. 2006-53(HTML)
Cost-of-living adjustments for 2007. This procedure sets forth the cost-of-living adjustments to certain items for 2007 as required under various provisions of the Code. Rev. Proc. 2002-41 modified.

EXCISE TAX

Rev. Proc. 2006-53(HTML)
Cost-of-living adjustments for 2007. This procedure sets forth the cost-of-living adjustments to certain items for 2007 as required under various provisions of the Code. Rev. Proc. 2002-41 modified.

Announcement 2006-94(HTML)
Announcement of Disciplinary Actions Involving Attorneys, Certified Public Accountants, Enrolled Agents, and Enrolled Actuaries — Suspensions, Censures, Disbarments, and Resignations.

Rev. Proc. 2006-52(HTML)
This procedure informs plan proponents in cases under chapter 12 of Title 11 of the United States Code of the procedures to be followed to request determinations of the income tax effects of proposed plans when such requests are authorized by the bankruptcy courts.

Rev. Proc. 2006-53(HTML)
Cost-of-living adjustments for 2007. This procedure sets forth the cost-of-living adjustments to certain items for 2007 as required under various provisions of the Code. Rev. Proc. 2002-41 modified.