LIFO; price indexes; department stores. The November 2003 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, November 30, 2003.

This document contains corrections to proposed regulations (REG-146893-02 and REG-115037-00, 2003-44 I.R.B. 967) under section 482 of the Code that provide guidance regarding the treatment of controlled services transactions and the allocation of income from intangibles.

Roth IRAs; abuses; listed transactions. This notice describes certain transactions that are being entered into by individuals, their Roth IRAs, and their businesses. The Service and the Treasury have determined that these transactions are abusive, that they may result in the disallowance of one or more deductions or the application of an excise tax, and that the applicable transactions must be listed as tax-shelters.

Public advocacy; public policy issues. This ruling concerns certain public advocacy activities conducted by social welfare organizations, unions, and trade associations. The guidance clarifies the tax implications of advocacy that meets the definition of political campaign activity.

Mileage allowance; accountable plans. This ruling clarifies when a mileage allowance for local transportation expenses computed on a basis similar to that used in computing a courier’s compensation may be treated as paid under an accountable plan.

This notice announces the extension of certain 2004 deadlines under revised regulations sections 1.6043-4T and 1.6045-3T for filing Form 8806 and furnishing Form 1099-CAP to clearing organizations. This notice also provides information to filers of Forms 1099-CAP and 1099-B to assist in complying with the reporting requirements set forth in revised sections 1.6043-4T and 1.6045-3T.

This procedure provides an updated list of time-sensitive acts, the performance of which may be postponed under sections 7508 and 7508A of the Code. Section 7508 postpones specified acts for individuals serving in the Armed Forces of the United States or serving in support of such Armed Forces in a combat zone. Section 7508A permits a postponement of specified acts for taxpayers affected by a Presidentially declared disaster or a terroristic or military action. The list of acts in this procedure supplements the list of postponed acts in section 7508(a)(1) and regulations section 301.7508A-1(b). Rev. Proc. 2002-71 superseded.

The Service and the Treasury Department announce that they are requesting comments from the public on proposed new Form 8858, Information Return of U.S. Persons With Respect to Foreign Disregarded Entities. The form will be required to be filed by U.S. persons that own a foreign disregarded entity directly or, in certain circumstances, indirectly or constructively. The reporting of information on Form 8858 will be required under sections 6011, 6012, 6031, and 6038 of the Code and the related regulations, for annual accounting periods of tax owners of foreign disregarded entities beginning on or after January 1, 2004.

The Service announces the availability of new Form 8806, Information Return for Acquisition of Control or Substantial Change in Capital Structure. This form is used by a reporting corporation to report an acquisition of control or a substantial change in the capital structure of a domestic corporation.