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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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