Vol. 27 No. 7, July 1996

Index

• The increased importance of inventory valuations in purchase price allocations.
• Life after INDOPCO: are business expansion costs deductible?
• Trends in inventory management.
• Sec. 174: "just in time" for deducting costs of developing new or improved manufacturing processes.
• Tax planning for disposition of worthless subsidiaries.
• Reducing losses disallowed by sec. 197.
• Finality of inclusion ratio under final sec. 2642 regulations.
• Are cooperative apartments membership organizations for purposes of sec. 277?
• Estate tax issues under the 1995 Protocol to the U.S.-Canada tax convention.
• Generally good news: the recent interpretation of manufacturing in Bausch & Lomb.
• Falling federal interest rates can precipitate interest disallowance.
• MNCs should start addressing sec. 404A issues.
• Partners entitled to involuntary conversion proceeds must plan for sec. 1033 relief.
• Avoiding sec. 280G sanctions: valuation of covenants not to compete.
• Million-dollar refunds: a closer look at Joint Committee review.
• Impact of IRM change on disclosure to avoid sec. 6662(d) penalty.
• Valuing AAA in S corporation redemptions.
• Key LLC issues and answers.
• The intricacies of the sec. 179 election.
• Can an individual deduct interest paid on a business-related tax deficiency?
• The impact of technology on tax practice in the 21st century.
• IRS third-party summons quashed.
• IRS has expanded examination settlement authority.
• IRS may offset time-barred, unassessed interest against estate tax refund.
• Electronic tax payment: coming soon to a taxpayer near you.
• Claiming business bad debt deductions.