
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, June 14, 1994                   TAG: 9406230032
SECTION: NATL/INTL                    PAGE: A-3   EDITION: METRO 
SOURCE: 
DATELINE: WASHINGTON                                 LENGTH: Short

CONGRESS GETS OK TO CLOSE LOOPHOLE

The Supreme Court today allowed Congress to close an estate-tax loophole retroactively, sparing the government a revenue loss of $7 billion.

The court unanimously ruled that a 1987 law aimed at closing a loophole Congress created inadvertently the year before can be applied retroactively to the taxes of those who used the loophole.

Memo: NOTE: See microfilm for text.

by CNB