TaxClinic
Practical
Advice
on Current Issues
.
Editor:
Frank J. O’Connell,
Jr., CPA, J.D.
Crowe Chizek
Oak Brook, IL
Accounting
Methods & Periods
Automatic tax-year-change
procedures modified for C corporations
New rules on accounting-period
changes for partnerships and S corporations
Corporations
& Shareholders
Revised Temp. Regs. may ease
anti-Morris Trust rule effects
Employee
Benefits & Pensions
A new look at profit-sharing
plans in 2002
Estates,
Trusts & Gifts
Special estimated tax
exceptions for trusts and beneficiaries
Exempt
Organizations
Corporate sponsorship
regulations finalized
Expenses
Statistical sampling may
create opportunity for M&E analysis
Gains
& Losses
Wasting assets do not generate
BIG under Sec. 382
Interest
Income & Expense
Deducting interest owing to a
related foreign person
Passive
Activities
Grouping activities as an AEU
S
Corporations
New ESBT rules receive mixed
reviews
Recapture of LIFO reserve
S corporation suspended losses
allowed against C corporation basis following merger
State
& Local Taxes
Sales and use tax reverse
audits: what to expect
Use of 80/20 companies
Unless
otherwise indicated, contributors' firms are members of
or associated of or associated with Crowe Chizek.
If you
would like additional information about these articles,
contact Mr. O’Connell at (630) 574-1619.
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