Although Congress responded to the financial market

crash and the growing federal deficit by including

modest revenue-raising items as part of the Revenue

Act of 1987, it has continued to stall passage of the

technical-corrections bill needed to clarify many of

the provisions of the Tax Reform Act of 1986. In

addition, the Treasury Department has been slow to

provide guidance on many complicated tax areas,

!ncluding passive income activity and fringe benefits

ISSues.

As tax advisers, we are continually consulting with

the Treasury Department and the Internal Revenue

Service on tax issues that are relevant

we make every effort to to you. And

ensure that you are informed

of the most current tax strategies, through personal

consultations and our booklets and periodicals,

including this publication.