Vol. 28 No. 10, October 1997

Index

• Cash method used by a medical clinic.
• Inventory stub period shrinkage estimates - the Tax Court sows confusion.
• Requests for changes in accounting methods made easier.
• Depreciation planning for newly acquired commercial real estate.
• IRS allows deduction for severance payments after Sec. 338 election.
• Real property leased to retail motor fuel outlet owner qualifies as 15-year property.
• Restoration of unified tax credit previously used.
• Short tax year depreciation and subsidiaries.
• Sec. 1341(a) income tax benefit is includible in the gross estate.
• Interest expense for UBTI purposes.
• Timeshare rental activity was trade or business activity giving rise to ordinary loss on foreclosure.
• When is a family limited partnership an appropriate tax savings vehicle?
• Can a client rely on his preparer to file an extension?
• Abatement of interest and penalties on payroll taxes.
• Tip credit for professional employer organizations.
• Federal and state governments wrestle with cybertaxes.
• Current developments - eligibility, elections and terminations; operations; and legislation.
• How to shift the burden of proof to the IRS on independent contractor status.
• The complexities of the section 165(i) (1) disaster loss election.
• Recognizing SRTP violations in return preparation.
• Bridge to an updated automation guide.
• Taxpayer Relief Act of 1997 affords businesses more time to switch to EFTPS (Electronic Federal Tax Payment System)
• Reliance on an agent held not to constitute reasonable cause.
• Supreme Court strikes down equitable tolling of limitations period for refund claims.
• Innocent spouse relief.
• Planning to obtain ordinary loss treatment for worthless debts owed by partnerships to noncorporate partners.