Vol. 38 No. 10, October 2007
Index
- Guidance on FIN 48 and independence.
- IRS announces redesigned Form 8857.
- IRS releases tax gap report.
- Prop. regs. clarify treatment of trust administrative expenses.
- Benefits under PPA '06 expand to include beneficiaries.
- Nonqualified deferred compensation and sec. 409A final regs.
- Debt-financed income and UBTI.
- Opportunities to claim health care expenses as deductions.
- Tax considerations for corporate aircraft.
- Sec. 1446 withholding.
- Sale of vacation home disallowed as tax-free like-kind exchange.
- Tax treatment of market discount bonds.
- Kiddie tax changes for 2008.
- Some prior-year MTCs will be refundable beginning in 2007.
- Distinguishing between independent contractors and employees.
- New rules govern practice before the IRS.
- Modifying the order of distribution rules for an S corporation with AE&P.
- S stock call options as a second class of stock.
- Payments for future remediation expenses are not insurance premiums.
- Treatment of legal fees incurred by individuals: depending on the claim that generated them, individuals' legal fees may be characterized in a variety of ways, from fully deductible to deductible only as a miscellaneous itemized deduction to totally nondeductible. This article explains the possible tax treatments, outlines how to determine the proper treatment, and highlights recent judicial and legislative developments.
- This two-part article discusses recent legislation, cases, rulings, regulations, and other developments in the S corporation area. Part I focuses on eligibility, elections, and termination issues.
- Final regulations on dual consolidated losses: originally enacted in 1986, the dual consolidated loss (DCL) rules are designed to prevent a corporation from using a net operating loss to offset income both in the United States and in a foreign country. Part II discusses triggering events and their consequences, plus applicable transition rules.
- The growing epidemic of financial elder abuse (and what CPAs can do about it).
- IRS announces new approach to the National Research Program.
- Advantages of a C corporation.
- Installment agreements: an alternative to offers in compromise.
- Federation of Exchange Accommodators (FEA).
- Morley Fool Tax Center.
- Tax Grotto.
- Transactional Records Access Clearinghouse (TRAC).
- U.S. Census Bureau--State and Local Tax.
- Worldwide Tax Summaries Online.
- The CPA's role in reviewing LLC allocations.
- IRS extends the reach of sec. 83 to post-grant stock transfers.