Internal Revenue Bulletin:  2004-4 

January 26, 2004 

INCOME TAX


Rev. Rul. 2004-7 Rev. Rul. 2004-7

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.

Announcement 2004-7 Announcement 2004-7

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.


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