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65 Taxes 1 (1987)

handle is hein.journals/taxtm65 and id is 1 raw text is: 2&Ua TAX MAGAZINE This magazine is pub- lished to promote sound thought In economic, legal and accounting principles relating to all federal and state taxation. To this end it contains signed articles on tax subjects of current interest and re- ports by the OXH Editorial Staff on recent federal and state tax matters. The editorial policy Is to allow frank discussion of tax issues. On this basis contributions are Invited. Responsibility Is not as- sumed for the contents of the articles or for the opinions expressed therein. Editor Gene 0. SJostrand Washington Editor James R. McNelIs Bus nss Manager James A. Merchant Circuiation Manager Donald B. Izban TAXES--The Tax Maga- sie (ISSN 0040-0181) Is published monthly by Commerce Clearing House, Inc., 4025 W. Peterson Ave., Chicago, IL 60646. Second-class postage paid at Chicago, Illinois. POST NASTUE: SEND AD- DRESS CHANGES TO TAXES-The Tag Maga- sifts, 4025 W. PETERSON AVE., CHICAGO, ILW- NOIS 60646. Subwripiton Ite: 50, 1 year: $5 single copy. January. 1W. Vol. 60. No. 1. Change of address should be received at least 30 days before the date of the issue with which it Is to take effect. S161, Commerce Clear- ing House, Inc. All rights reserved. Printed in U.S.A. JANUARY 1987 9 VOL 65 No. I T ax N o te s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Lodging Furnished to a Farmer by His Own Corporation: Is It Taxable?. 3 James L. Wittenbach and Ken Milani examine the issue of whether a farmer is able to exclude from gross income the rental value of lodging supplied by a farm-corporation. Ode to the GST-A Poem by Alice A. Abreu ...................... 9 Marital Privileges in Tax Fraud Cases: The Government's Nonacqules. cence in Wedded Bliss .............................10 Recent court decisions have substantially reduced the effectiveness of the marital privilege protection that prevents one spouse from testifying against the other, maintains Leonard R. Rosenblatt. Climbing Mountains from a Level Playing Field: Capitalizing and Man- aging the Entrepreneurial Business After Tax Reform. 15.........19 David A. Well discusses the effect the changes brought about by the Tax Reform Act of 1986 will have on entrepreneurs and investors. In W ashington ............................................ 2 1 Tax Reform Preserves Structured Settlements ...................... 22 Congress's action to preserve the tax law concerning structured settlements, in light of proposals by the Administration of major changes, is analyzed by William L. Winslow. Bolaris Decision Makes Temporary Rentals More Attractive to Home- sellers ..................................................28 Karen J. Boucher and William A. Raabe focus on the planning opportunities provided by the Ninth Circuit's decision in Bolaris v. Commissioner. Modification of Divorce Decrees by Virtue of the 4984 Tax Amend- ments Relating to Dependency Exemptions...................... .43 The changes enacted by the Tax Reform Act of 1984 to dependency exemp- tions for children of divorced parents and the effect that these changes have had on taxpayers with pre-1985 divorce decrees are examined by Roger M. Baron. State Taxes ............................................... 47 Tax Planning for Clergy .................................... . 48 Todd Zostrow examines the tax planning opportunities available to members of the clergy. Interest Paid or Accrued to Purchase or Carry an S Corporation or Partnership Interest: A Senate-IRS Conflict ......... : .......... 52 A recently issued general counsel's memorandum on the applicability of the investment interest limitations to interest paid or accrued to carry S corpora- tion stock, points up several confusing issues, according to Charles Edward Falk and Maureen Dougherty. Tax Pointer-Restrictions on Dual-Use Energy Property Would Be Lifted 63 Tax Meetings .............................................. 64

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