Table of Contents - November 2008
Note: In accordance with IRS Circular 230, Regulations Governing the Practice of Attorneys, Certified Public Accountants, Enrolled Agents, Enrolled Actuaries, and Appraisers before the Internal Revenue Service, the information on this website is not intended or written to be used as, and cannot be used as or considered to be a "covered opinion" or other written tax advice, and should not be relied on for the purpose of (1) avoiding tax-related penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any transaction or tax-related matter(s) addressed herein, for IRS audit, tax dispute or other purposes.
Bullets indicate items in the Tax Clinic department.
ACCOUNTING METHODS & PERIODS
SEC Approves Early IFRS Adoption
• Correcting Accounting for Deferred Revenue
CHARITABLE CONTRIBUTIONS
• Tax Aspects of Contributing a House to a Fire Department
EMPLOYEE BENEFITS & PENSIONS
IRS Reports High Level of SARSEP Errors
• IRS Provides Guidance on Contributions to HSAs
• Sec. 409A: International Issues
Current Developments in Employee Benefits and Pensions (Part I)
ESTATES, TRUSTS & GIFTS
Widow of 9/11 Victim Is Not a Terrorist Victim
Funeral Trust Dollar Limitation Repealed
• The Case for an Intentionally Defective Grantor Trust
Riding the Estate Planning Roller Coaster for the Next Three Years
EXEMPT ORGANIZATIONS
• IRS Releases New Draft Instructions to Form 990
FOREIGN INCOME & TAXPAYERS
Automatic Penalties for Late Forms 5471 and Related Forms
• New Temp. Regs. Under Sec. 905(c)
• Selected Provisions of the Fifth Protocol to the U.S.-Canada Income Tax Treaty
GAINS & LOSSES
Guidance Expected on Fannie Mae/Freddie Mac Takeovers
• Tax-Deferred Exchanges of Vacation Homes
GROSS INCOME
• Debt Modifications for Employees: Does Sarbanes-Oxley Nullify Rev. Rul. 2004-37?
• When Plaintiffs in Class Actions Pay Tax on Attorneys’ Fees
INDIVIDUALS
Service Provides Guidance on Children of Divorced Parents
Income Splitting: Issues and Opportunities
When Are Payments Treated as Child Support?
PROCEDURE & ADMINISTRATION
IRS Announces Disaster Relief for Hurricane Victims
TIGTA Test Uncovers Significant Errors in Returns Prepared by Unenrolled, Unlicensed Preparers
Tax Court May Not Disregard Findings of a Special Trial Judge
S CORPORATIONS
Current Developments in S Corporations (Part II)
Guidance on S Corporation Life Insurance Premiums Raises Questions
SPECIAL INDUSTRIES
TAX EDUCATION
Teaching Tax Through the Socratic Method
