:54:01
Who hired you to do that?
:54:06
OK. OK.
:54:12
Just Iet me think.
:54:16
His name...
:54:17
Was JuIio IgIesias.
:54:23
No! No!
:54:27
Great.
:54:29
Just great.
:54:32
You want to ask him
a few questions now?
:55:04
This is
a carefuIIy baIanced proposaI.
:55:06
I think it`s high-minded,
but I think it`s fair-minded.
:55:09
In other words, it`s got
something to offend everyone.
:55:13
If you want to foIIow aIong,
we`II begin on page ``I.``
:55:18
We`II review sections 704-B
of the IRS code of 186...
:55:37
``..with partners` interests
in the partnership -
:55:41
``unIess those aIIocations
satisfy the economic effect
:55:44
``most easiIy satisfied
by taking advantage
:55:47
``of the safe harbour provisions
set forth therein.``
:55:51
So, in an ever-changing sea
of tax Iaw...
:55:58
Watch your step, pIease.