The Taxpayer Relief Act of 1997 contains a litany of amendments, many of which will affect the types of business entities in which attorneys practice

Article Abstract:

The Taxpayer Relief Act of 1997 significantly changes the taxation of professional corporations, partnerships, and sole proprietorships and so affects the business form lawyers practice in. The changes involve unified partnership audit procedures as well as other partnership changes such as a longer period during which pre-contribution gain or loss is taxed and changes in the rules for basis allocation of distributed properties. The changes affecting "electing" large partnerships do not apply to service partnerships like law firms. Changes are detailed.

Taxation, Limited partnership, Limited partnerships, Practice of law, Professional corporations

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Gearing up for energy deregulation; lawyers retool; 'everybody is trying to (be) a lobbyist.'

Article Abstract:

Regulatory attorneys are divided between those who fear that their practices will grow extinct as the energy industry is deregulated and sees increasing competition and those who think traditional regulatory practice will still find a niche in a more competitive energy marketplace. Law firms may even be faced with conflicts of interest in a more highly populated energy marketplace.

Attorneys, Energy policy, Deregulation, Legal specialization, Telecommunication policy, Telecommunications policy

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