CCH Introduces journal Of Taxation Of Financial Products

Quarterly is Packed with Insights, Analysis, Techniques

(RIVERWOODS, ILL., March 31, 2000) – The use of sophisticated financial instruments by major corporations, financial institutions and high net worth taxpayers is skyrocketing. Every user of derivative and other financial products needs to understand the tax consequences of utilizing and investing in them. To meet those needs, CCH INCORPORATED (CCH), a leading provider of tax and business law information, has introduced the Journal of Taxation of Financial Products—the first journal designed exclusively to provide tax practitioners, corporate finance managers and financial services firm professionals with analysis of the tax ramifications associated with financial products. ($195. To order, or for more information on the Journal of Taxation of Financial Products, call 1-800-449-8114, or order over the Internet at http://tax.cchgroup.com.)

Need to Know Information, Insightful Strategies

Failure to know and anticipate the tax consequences of a particular derivative transaction, for example, can undermine the product’s effectiveness as a financial tool. Unintended and unexpected tax ramifications can make a transaction uneconomical. Subscribers to CCH’s Journal of Taxation of Financial Products will learn how to protect against a variety of risks, achieve lower costs of funds, and meet a desired rate of return.

The Journal of Taxation of Financial Products emphasizes the tax treatment of hedges, straddles and the like, identifying strategies to maximize the return for investment vehicles and cross-border derivative transactions, and examining the tax uncertainties of new financial products.

"This Journal is a must for practitioners who advise clients on today’s sophisticated and evolving financial instruments," said Gail Portugal, Federal and State Tax marketing manager. Tax, finance and legal professionals with clients or organizations in the energy, investment, insurance, banking and agriculture industries will find the authoritative guidance in this Journal vital to successful advice and planning, as will those advising high net worth taxpayers.

Each quarterly issue includes feature articles that provide information needed for successful tax planning in the area of derivative financial products. Readers will find comprehensive, in-depth articles on basic financial product transactions as well as cutting-edge issues; valuable advice on tested strategies, analyzed by fellow practitioners; heads-up notice of financial products tax policies and trends; and planning tips that can be put to immediate use.

Continuing columns by leading professionals in the financial product and derivative fields offer expert guidance on issues affecting high net worth individuals, international taxation, capital markets and other critical areas, insightful coverage of new regulatory, state and local developments and industry and financial accounting perspectives on the issues.

Expertise from the Field

Journal of Taxation of Financial Products co-editors in chief are Andrea S. Kramer and William R. Pomierski, both leading financial product experts who are partners in the international law firm of McDermott, Will & Emery.

Kramer heads the firm’s Financial Products, Trading, and Derivatives Group. She has written close to 90 articles and books on derivative financial products, and is the author of the leading treatise on derivative financial products law. She advises clients on the design, trading and risk management applications of financial products, including highly complex and rapidly evolving over-the-counter products such as securitized assets, equity swaps, credit derivatives, weather derivatives, contingent debt instruments and hybrid products.

Pomierski is a member of the firm’s Financial Products Group and its Tax Department. His experience in financial product issues has an emphasis on hedging, mark-to-market issues, asset-backed securities offerings, domestic and international securities lending, short sales, broker reporting and other information reporting requirements, foreign currency transactions, equipment leasing and international financial transactions. He worked closely with a government-sponsored entity in its domestic and global medium-term note offerings, rendering tax opinions on over $5 billion of debt issuances in the past year.

CCH’s Journal of Taxation of Financial Products’ editorial board, including the columnists, is composed of leading authorities in the field.

The advisory board, which includes all columnists, includes Neil Auerbach, Goldman Sachs; Gina Biondo, PricewaterhouseCoopers; Mark T. Caron, PricewaterhouseCoopers; Walter R. Drew, Banc of America Securities, LLC; Glenn N. Eichen, Fleet National Bank; Steven G. Frost, Chapman and Cutler; David C. Garlock, Ernst & Young, LLP; Earl Goldhammer, American Electric Power; Alton B. Harris, Ungaretti & Harris; Mary B. Heath, KPMG, LLP; M. Holly Isdale, Goldman Sachs; Jeffrey Lonsdale, Unity Hunt, Inc.; David S. Miller, Cadwalader, Wickersham & Taft; David Z. Nirenberg, Orrick, Herrington & Sutcliffe, LLP; James Palmer, American Express Financial Corporation; Charles Plambeck, Deutsche Bank; Greg Stephenson, Deloitte & Touche; and Steven M. Surdell, Baker & McKenzie.

Pricing and Availability

To order, or for more information on the Journal of Taxation of Financial Products, call 1-800-449-8114, or order over the Internet at http://tax.cchgroup.com. A subscription to the quarterly Journal is $195.

About CCH INCORPORATED

CCH INCORPORATED, headquartered in Riverwoods, Ill., was founded in 1913 and has served four generations of business professionals and their clients. The company produces more than 700 electronic and print products for the tax, legal, securities, human resources, health care and small business markets. CCH is a wholly owned subsidiary of Wolters Kluwer U.S. The CCH web site can be accessed at www.cch.com. The CCH Federal and State Tax site can be accessed at http://tax.cchgroup.com.

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EDITORS NOTE: For members of the press, a complimentary review copy of the Journal of Taxation of Financial Products is available by contacting: Leslie Bonacum, 824-267-7153 or bonacuml@cch.com.