The following is an excerpt from the article “Tax Issues from a Tough Year“, by Sam Braunstein and Carol F. Burger. It was published in the ABA Journal, November 2002.
Not even tax law was immune from the troubles of the past year.
The past 12 months or so were not lacking for difficulties. Throughout the period, the economic climate has been unstable, and the stock market has resembled a roller coaster ride. Making matters worse, the Enron scandal that exploded in the fall of 2001 seemed to open the door to a steady stream of corporate wrongdoing and collapses.
And all of those events have unfolded under the continuing cloud of anxiety and uncertainty triggered by the terrorist attacks on Sept. 11, 2001.