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TREAS/IRS | RIN: 1545-BJ66 | Publication ID: Fall 2024 |
Title: Inventory Price Index Computation (IPIC) Pooling for Manufactured and Resale Goods | |
Abstract:
These final regulations clarify that last-in, first-out taxpayers electing the Inventory Price Index Computation (IPIC) method to establish dollar-value pools must separately pool manufactured goods and goods purchased for resale. The IRS and Treasury solicited and received public comments on the proposed rule, and are reviewing and considering those comments, to include those submitted after the comment period closed on February 27, 2017.
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Agency: Department of the Treasury(TREAS) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: Not Yet Determined (To search for a specific CFR, visit the Code of Federal Regulations.) | |
Legal Authority: 26 U.S.C. 472 26 U.S.C. 7805 |
Legal Deadline:
None |
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Timetable:
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Additional Information: REG-125946-10 (Final) Drafter attorney: Mia Romano (202) 317-7007 Reviewer attorney: Andrew Braden (202) 317-7007 Treasury attorney: Heather Harman (202) 622-2623 and Dan Penrith (202) 679-2039 CC:ITA | |
Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Federalism: No | |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Mia C Romano Attorney Department of the Treasury Internal Revenue Service 1111 Constitution Ave,NW, Washington, DC 20024 Phone:202 317-7007 Email: mia.c.romano@irscounsel.treas.gov |