Misidentification Noted

BY WILLIAM EDWARDS

The Tax Brief “ More Clarification on 1031 Exchanges ” ( JofA , Jun.03, page 83) needs clarification. On November 25, 2002, the Internal Revenue Service released revenue ruling 2002-83 in Internal Revenue Bulletin (IRB) 2002-49. (It can be found in CCH’s Standard Federal Tax Reporter, vol. 19, pp. 78, 199-24 and 78, 199-25, 2002.)

The article misnamed the ruling as a procedure. It had us in the right town, wrong street. Other than that, it was functionally correct.

William Edwards, CPA
Veltri, Edwards & Associates, PA
Englewood Cliffs, New Jersey

Author’s reply: The term “revenue procedure” was inadvertently used. The IRS released Revenue Ruling 2002-83, not Revenue Procedure 2002-83.

Also, the correct term for TAM should be Technical Advice Memorandum 9748006, not Tax Advice Memorandum (page 84).

Ron Raitz, CCIM
Real Estate Exchange Services Inc.
Marietta, Georgia

SPONSORED REPORT

Keeping client information safe in an age of scams and security threats

A look at the Dirty Dozen tax scams and ways to protect taxpayer information.

TAX PRACTICE CORNER

More R&D tax help

"Can I use the R&D credit?" PATH Act enhancements make the credit more attractive to a wider range of taxpayers.

QUIZ

Learn to choose between ‘who’ and ‘whom’

Writers can stumble over who and whom (or whoever and whomever). If you write for business, this quiz can help make your copy above reproach.