One hundred and twenty three US companies have planned special dividends payments before the end of the year to avoid higher taxes that will come with the fiscal cliff or, nearly as likely, as a result of a deal that avoids it. In many of the companies, management controls a significant equity stake, helping clarify the need for a payment before taxes on dividend income go up. Some investors question the practice, wondering why the companies were hanging onto this apparently superfluous cash in the first place.