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To: hueyone who wrote (160094)	9/1/2004 11:18:24 PM
From: Oeconomicus	Read Replies (1) \| Respond to of 164684

Again, tax and GAAP are separate matters. As for S.1940, that sounds like nothing more than an indirect way of forcing a GAAP treatment that the sponsors wanted. It was certainly not a suggestion that GAAP and tax accounting should never differ, which was the implication, intended or not, of your earlier post to which I replied. I'd also add that I do not think the fact that the two accounting treatments differ on this one matter is a very good justification for changing the GAAP treatment, unless one actually IS suggesting that they should never differ AT ALL (something that will never be seriously suggested in DC as long as we retain our convoluted tax system). Bob