LIFO; price indexes; department stores. The February 2007 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, February 28, 2007.

Geographical areas included in North American area. This ruling contains an updated list of all geographical areas included in the North American area for purposes of section 274 of the Code. Rev. Rul. 2003-109 superseded.

Final, temporary, and proposed regulations under section 1502 of the Code provide guidance to corporations filing consolidated returns. The regulations add an anti-avoidance rule and revise the anti-loss reimportation rule that apply following a disposition of stock of a subsidiary at a loss.

Final, temporary, and proposed regulations under section 1502 of the Code provide guidance to corporations filing consolidated returns. The regulations add an anti-avoidance rule and revise the anti-loss reimportation rule that apply following a disposition of stock of a subsidiary at a loss.

2007 section 45K inflation adjustment factor. This notice announces the applicable inflation adjustment factor and phase-out amount for the nonconventional source fuel credit for the 2006 calendar year.

Automobile owners and lessees. This procedure provides owners and lessees of passenger automobiles (including trucks and vans) with tables detailing the limitations on depreciation deductions for passenger automobiles first placed in service during calendar year 2007 and the amounts to be included in income for passenger automobiles first leased during calendar year 2007.