No. 55-7, July 2024

Index

• A retirement savings head start: 529-to-Roth rollovers.
• Avoiding passive loss limitations on rental real estate losses.
• Current developments in S corporations.
• D.C. Circuit holds IRS can assess Sec. 6038(b) penalties. (Internal Revenue Code)
• Deficiency notice invalid because IRS cannot prove last known address. (Phillips v. Commissioner)
• Electing the UNICAP historic absorption ratio under the modified simplified production method. (uniform capitalization)
• IRS penalties, abatements, and other relief.
• Partners' basis on the liquidation of an insolvent partnership.
• Recapture considerations for Inflation Reduction Act credits.
• Revisiting FIRPTA and return-of-capital distributions. (Foreign Investment in Real Property Tax Act of 1980)
• Sec. 6603 deposits under the BBA audit regime. (Internal Revenue Code, Bipartisan Budget Act of 2015)
• The BBA's 'ceases-to-exist' rule in partnership termination transactions. (Bipartisan Budget Act of 2015)