Clarification.

• Position: Tax trends: recent cases and rulings - Correction Notice

In the August 2004 issue, in the article, "GRAT Planning with S Corp. Stock," the first paragraph on p. 503 states:

A donor can elect to use the Set. 7520 rate in effect for either of the two months preceding the transfer date.

That sentence should have read:

A donor can elect to use the Sec. 7520 rate in effect for either of the two months...