¹Rev. Proc. 2002-59, IRB 2002-39, 615, superseding Rev. Proc. 2002-15, IRB 2002-6, 490.

²Id.

³Rev. Proc. 2002-69, IRB 2002-45, 831.

⁴FSA 200242004 (7/19/02).

⁵Andantech, L.L.C., TC Memo 2002-97.

⁶Saba Partnership, 273 F3d 1135 (Fed. Cir. 2001).

⁷CCA 200224007 (6/14/02).

⁸Notice 2002-50, IRB 2002-28, 98.

⁹Notice 2002-65, IRB 2002-41, 690.

¹⁰TD 9017 (10/22/02); see Mendelson, et al.,Tax Shelter Temp. Regs. (Part I), this issue.

¹¹Rev. Proc. 2002-3, IRB 2002-1, 117.

¹²FLPs are a very popular income and estate planning tool. Parents can create a FLP with business property and gift partnership interests to their children and grandchildren. This type of entity accomplishes two goals: a reduction in the value of the parents estate and a shift of current income to children (who presumably are in a lower tax bracket).

¹³Est. of Fred O. Godley, 286 F3d 210 (4th Cir. 2002).

¹⁴Est. of Morton B. Harper, TC Memo 2002-121.

¹⁵Est. of Theodore R. Thompson, TC Memo 2002-246.

¹⁶J.C. Shepherd, 283 F3d 1258 (11th Cir. 2002).

¹⁷IRS Letter Ruling 200210047 (3/8/02).

¹⁸IRS Letter Ruling 200211017 (4/19/02).

¹⁹FSA 200216005 (4/19/02).

²⁰David A.Field, SD NY, 6/12/02.

²¹CC&F Western Operations LP, 273 F3d 402 (1st Cir. 2001).

²²Rodney Blonien, 118 TC 541 (2002).

²³TD 8996 (5/17/02).

²⁴Rev. Procs. 2002-37, IRB 2002-22, 1030; 2002-38, IRB 2002-1037; and 2002-39, IRB 2002-22, 1046.

²⁵Rev. Proc. 2002-38, note 24 supra, clarifying and superseding Rev. Proc. 87-32, 1987-2 CB 396.

²⁶TD 9009 (7/23/02).

²⁷TD 8986 (3/29/02).

²⁸REG-167648-01 (3/29/02).

²⁹TD 9013 (8/21/02).

³⁰Rev. Proc. 2002-16, IRB 2002-9, 572, modified and superseded by Rev. Proc. 2002-68, IRB 2002-43, 753.

³¹Id.

³²Rev. Proc. 2001-57; IRB 2001-50, 577.

³³TD 9008 (7/23/02).

³⁴Notice 2002-37, IRB 2002-23,1095.

³⁵IRS Letter Ruling 200222026 (5/31/02).

³⁶For a discussion of the proposed regulations in this area, see Orbach and Heller, Merger and Division Prop. Regs., 31The Tax Adviser 854 (December 2000).

³⁷IRS Letter Ruling 200223036 (6/7/02).

³⁸FSA 200219008 (1/30/02).

³⁹See, e.g., IRS Letter Rulings 200209046 (3/1/02); 200215011 (4/12/02); 200229028 (7/19/02); and 200234057 (8/23/02).