TaxClinic
Practical Advice
on Current Issues
.
Editors:
Joseph
J. Tapajna, CPA, J.D.
Partner
Arthur Andersen LLP
Chicago, IL
Stephen
R. Corrick, CPA, J.D.
Partner
Arthur Andersen LLP
Washington, DC
William
W. Ciesar, CPA, J.D., LL.M.
Principal
Arthur Andersen LLP
Chicago, IL
If you would like
additional information about these articles, contact Mr.
Ciesar at (312) 931-2940.
Accounting
Methods & Periods
FSA
outlines IRS position on partnership aspect of
lease-stripping transaction
No
deferral of annual cardholder payments as advance
payments for services
Corporations
& Shareholders
Business-purpose
and economic-substance tests
Expenses
Captive
insurance update
Update
on loan origination costs
Partners
& Partnerships
FSA
provides favorable guidance on liability allocation
in partnership division
IRS
clarifies rev. proc. on partnership interest for
services
Procedure
& Administration
Financial
woes as reasonable cause for payroll tax nonpayment
S
Corporations
Tax
Court invokes economic-outlay analysis for S loans
State
& Local Taxes
Massachusetts'
treatment of Sec. 338(h)(10) election provides refund
opportunity
Sourcing
sales across states to reduce state income tax
Unless otherwise indicated,
contributors are members of or associated with Arthur
Andersen LLP.
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