¹See IR-2004-91 and -92 (7/7/04).

²Id.

³See Mills and Plesko, Corporate Tax Avoidance and the Properties of Corporate Earnings, LVII Natl Tax J 739 (September 2004).

⁴See Mills, Newberry and Trautman, Trends in Book-Tax Income and Balance Sheet Differences, presented at the 2002 IRS Research Conference (5/20/02); see also Department of the Treasury, The Problem of Corporate Tax Shelters: Discussion, Analysis and Legislative Proposals (7/1/99).

⁵See the IRS Oversight Board Annual Report (March 2004).

⁶See Mills and Plesko, Bridging the Reporting Gap: A Proposal for More Informative Reconciling of Book and Tax Income, MIT Sloan Working Paper No. 4289-03 (3/17/03).

⁷See the IRS Instructions for 2004 Schedule M-3 (Form 1120), at p. 4, Example 2.

⁸See id. at p. 5, Example 3.

⁹See id. at p. 5, Example 4.

¹⁰See id. at p. 5, Example 5.

¹¹See id. at p. 8, Example 12.

¹²See id. at p. 11, Example 18.

¹³See id. at p. 6, Example 7.

¹⁴See id. at p. 7, Example 8.

¹⁵See id. at p. 7, Example 9.

¹⁶See id. at p. 7, Example 10.

¹⁷See IR-2004-91, note 1 supra.

¹⁸Rev. Proc. 2004-45, IRB 2004-31, 140. Treasury and the IRS may issue guidance to clarify aspects of disclosure procedures for reportable transactions under Rev. Proc. 2004-45. In the interim, they issued frequently asked questions and answers at www.irs.gov/pub/irs-utl/m-3_faq_release_080604.doc; see Reinstein, NewsNotes, Final Version of Schedule M-3 Available, 35 The Tax Adviser 597 (October 2004).

¹⁹See NewsNotes, Schedule M-3, 35 The Tax Adviser 189 (April 2005).