February

    The Tax Adviser February 2010 

     

     

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    The Blurred Line Between Production and Handling Costs

    Article On September 15, 2009, the IRS announced in a field directive that it was temporarily suspending the examination of Sec. 263A (UNICAP) issues involving automobile dealerships. The suspension will end on December 31, 2010.
    Published on January 28, 2011

    Tax Season Resources Available from AICPA

    Article The AICPA has released its annual tax season resources for CPAs.
    Published on January 28, 2011

    The Recent Growth of Mandatory Unitary Combined Reporting

    Article The use of mandatory unitary combined reporting has become increasingly popular among states in recent years, driven by state budgetary shortfalls and the perceived distortion of taxable income by multistate corporations filing separate company reports.
    Published on January 28, 2011

    IRS Initiatives Could Change Compliance Landscape in 2010

    Article During the latter part of 2009, the IRS announced a number of new compliance initiatives that, when fully implemented, have the potential to dramatically alter the way the IRS deals with certain groups of taxpayers.
    Published on January 28, 2011

    Employers Face New IRS Reporting Requirements for ISOs and ESPPs

    Article Final regulations create new requirements for corporations to furnish a written statement containing certain information to an employee who exercises incentive stock options (ISOs) or who receives stock under an employee stock purchase plan (ESPP).
    Published on January 28, 2011

    Parents Payment on Behalf of Subsidiary

    Article This item summarizes the tax law related to when a parent corporation pays an expense on behalf of a subsidiary and recent related IRS guidance.
    Published on January 28, 2011

    Unexpected Tax Consequences of Buying Employer Stock with Loan Proceeds

    Article This item explores the possible tax treatment when an executive purchases employer stock with a loan from the employer.
    Published on January 28, 2011

    Sec. 475 Mark-to-Market Election

    Article Under Sec. 475(f), taxpayers who are traders of stocks or other securities can make an election to mark to market the stock and securities they own in their capacity as traders at the end of each year.
    Published on January 28, 2011

    Life Settlements

    Article The tax treatment of life settlement proceeds has been unclear until recently. However, the IRS issued guidance during 2009 that clarifies when and to what extent policyholders must recognize capital gain when they sell a life insurance policy.
    Published on January 28, 2011

    IRS Releases Guidance on Expanded NOL Carryback Rules

    Article The IRS has issued guidance on the expanded five-year net operating loss (NOL) carryback rules, which were amended by the Worker, Homeownership, and Business Assistance Act.
    Published on January 28, 2011

    Proposed Regs. on Basis Reporting by Brokers

    Article The IRS issued proposed regulations relating to how securities brokers report sales to the IRS and how stock basis is determined.
    Published on January 28, 2011

    Sec. 199 Deduction and Government Contractors

    Article Although the domestic production activities deduction (DPAD) came into law in 2004, certain types of taxpayers eligible for the deduction--including contractors doing business with the federal government--often fail to claim it on their income tax returns.
    Published on January 28, 2011

    Treatment of Prior-Period Expenses under Sec. 199

    Article Taxpayers that are eligible for the domestic production activities deduction under Sec. 199 often face the difficult question of how to properly allocate prior-period expenses between activities that created domestic production gross receipts (DPGR) and activities that did not create DPGR (non-DPGR).
    Published on January 28, 2011

    Payment of Annuity with Appreciated Property by Grantor Charitable Lead Annuity Trust

    Article Editor: Greg A. Fairbanks, J.D., LL.M. Taxpayers often are interested in using excess assets to benefit their own philanthropic interests as well as those of their family members. Split-interest trusts, in which charitable and noncharitable be
    Published on January 28, 2011

    Inclusion of Certain Trusts in a Decedents Gross Estate Under Sec. 2036

    Article Sec. 2036 requires the inclusion in a decedent’s estate of the value of property in which the decedent retained a lifetime income interest or the right to the possession or enjoyment of the property. This article examines new final and proposed regulations under Sec. 2036.
    Published on January 28, 2011

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