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Table of Contents
January 2002
Asterisks indicate items in the Tax Clinic department.
 
Accounting Methods & Periods
  * Failure to Properly Elect Out of MACRS
  * District Court Disagrees on Depeciation Recovery Period for Gathering System
 
Bankruptcy & Insolvency
    Administrative Expenses of Bankruptcy Estate Are Deductible from Gross Income
     
Charitable Contributions
  * IRS Approves Employer-Sponsored Leave Donation Programs
     
Corporations & Shareholders
    Federal Corporate Income Tax Receipts, Fiscal Years 1970–2000 (chart)
  * IRS Issues Guidance on Disguised Corporate Sales
    Significant Recent Developments, by Mark A. Schneider and Indu Magoon
    Valuing a Closely Held Manufacturer
 
Employee Benefits & Pensions
    IRS Grants AICPA Request for Extension of Remedial Amendment Period
  * Prop. Regs. Issued on Age 50 "Catch-Up" Deferrals for Sec. 401(k), 403(b) and Other Plans
     
Estates, Trusts & Gifts
  * Seventh Circuit Affirms GRAT Contingent Spousal Annuity Not Exempt from Gift Tax Liability
    Gift May Create Income or Gain to Donor, by Boyd C. Randall, Robert L. Gardner and Dave N. Stewart
     
Exempt Organizations
    Charity Payments
  * IRS Tackles Exclusive Provider Arrangements and UBIT
     
Expenses
  * Bank Must Capitalize Cost of Acquiring Credit Card Receivables
     
Gains & Losses
    Computing Capital Gains on Sales of Partnership and S Corp. Interests, by Janet W. Tillinger
     
Gross Income
    Real Estate Tax Abatements under State Senior Citizen Program Were Wages Subject to FICA
     
Individuals
  * Sec. 83(b) Election Can Be Made for AMT Purposes on ISO Exercise
  * Sec. 121 Gain Exclusion on Sale of Principal Residence Cannot Be Marked to Market
     
Miscellaneous
    Euro Use
     
Partners & Partnerships
  * IRS Requests Comments on Disguised Sale Prop. Regs.
     
Personal Financial Planning
    EGTRRA Provisions Affecting PFP
     
Practice & Procedures
    LMSB Dispute Resolution
    An IRS Update for Practitioners
    Issue Resolution and LMSB Division Appeals
    The Makings of Disaster Relief: Putting Taxes in Their Proper Place
    The New IRS "Customer Satisfaction" Survey
     
Procedure & Administration
    Practitioner Hotline
  * Taxpayers May Redesignate Estimated Income Tax Payments
    IRS Releases 2001 Guidelines for "Adequate Disclosure"
     
S Corporations
  * S Corporation Shareholders Cannot Increase Bases Using Corporate Debt
     
Reader Survey

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2002 AICPA