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TREAS/IRS RIN: 1545-BI68 Publication ID: Fall 2010 
Title: Carryover of LIFO Inventory Layers Received in Nontaxable Transactions 
Abstract: These regulations modify existing rules relating to the combination of dollar-value LIFO (last-in first-out) inventories received in a nontaxable transaction. In addition, these regulations modify existing rules relating to the combination of dollar-value LIFO inventories following a section 381 transaction. 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: Undetermined 
CFR Citation: 26 CFR 1   
Legal Authority: 26 USC 381(c)(5)-1    26 USC 472-8    26 USC 7805   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  12/00/2010    
Additional Information: REG-117683-09 Drafting attorney: Leo F. Nolan II (202) 622-4970 Reviewing attorney: Martin Scully, Jr. (202) 622-4970 Treasury attorney: Eric Lucas (202) 622-0869 CC: ITA
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Leo F. Nolan II
General Attorney (Tax)
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 317-7007
Fax:202 317-4654
Email: leo.f.nolan@irscounsel.treas.gov