Copyright (c) 1994 Tax Analysts

Tax Notes

OCTOBER 17, 1994

LENGTH: 144 words

DEPARTMENT: Tax Practice and Accounting News (ACC)

CITE: 65 Tax Notes 351

HEADLINE: 65 Tax Notes 351 - HIGHLIGHTS.

TEXT:

R&D Allocation. William L. Raby and Burgess J. W. Raby examine the Tax Court's recent decision in Perkin-Elmer, which deals with the allocation of research and development costs and the effect of that allocation on calculation of the foreign tax credit limitation. . 351

Protection of Trust Assets. Robert G. Nath discusses three recent cases that hold some lessons for practitioners who wish to attempt to shield retirement or other trust assets from the IRS. . 353

FASB. The Financial Accounting Standards Board met on October 5 to discuss not-for-profit investments, hedge accounting, consolidations procedures, and impairment of assets. . . . 354

Stock Options. In the first half of a two-part series, Professor Calvin Johnson begins his review of FASB's 1993 Exposure Draft on Stock Options. . . . . . . . . . . . . . . . . . . . . . . 355