February

    The Tax Adviser February 2013 

    PHOTO BY ISTOCKPHOTO/THINKSTOCK Articles

    Current Developments in Partners and Partnerships
    Hughlene A. Burton

    Activity Grouping: The Impact of Recent Developments
    Daniel Rowe

    Formula Clauses: Adjusting Property Transfers to Eliminate Tax
    John H. Skarbnik and Ron West

     

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    Effective Date Amended for Temporary Repair Regulations

    Article The IRS issued technical amendments to address the effective date for the temporary regulations that apply to amounts paid to acquire, produce, or improve tangible property.
    Published on February 01, 2013

    Establishing the Fact of the Liability for Bonus Compensation

    Article A recent IRS legal memorandum serves as a reminder to business taxpayers to consider modifying or updating their employee bonus plans to enable a deduction for bonus compensation accrued in the year of the related services, as provided in Rev. Rul. 2011-29.
    Published on February 01, 2013

    Trends in Sales and Use Tax for Remote Sellers

    Article Click-through or affiliate nexus legislation has become a popular way for states to require certain remote sellers (i.e., internet vendors) to collect sales or use tax on their sales to in-state residents.
    Published on February 01, 2013

    Activity Grouping The Impact of Recent Developments

    Article Activity grouping is an often overlooked or misused component of tax strategy and compliance, and with the issuance of Rev. Proc. 2010-13, the importance of getting it right has increased.
    Published on February 01, 2013

    Formula Clauses Adjusting Property Transfers to Eliminate Tax

    Article Dispository documents involving lifetime gifts or testamentary bequests often include formula clauses to designate the value of property passing by gift or bequest.
    Published on February 01, 2013

    Establishing an Ethical Culture in a Tax Practice

    Article This column offers practical suggestions for ways a professional firm can communicate, reinforce, and monitor its code of conduct in tax practice.
    Published on February 01, 2013

    Personal Goodwill, Purchase Agreements, and Covenants Not to Compete

    Article A common strategy for shareholders of closely held corporations to avoid double tax involves the assertion that a portion of the disposition of the business relates to the sale of personal goodwill of the shareholder.
    Published on February 01, 2013

    IRS Allows Sec. 338(h)(10) Election Made During Spinoff of Selling Corporation

    Article In Letter Ruling 201220020 the IRS integrated an internal stock sale followed by a spinoff and ruled that the internal stock sale was eligible for a Sec. 338(h)(10) election.
    Published on February 01, 2013

    R&D Tax Credit Update Recent Court Decisions Shed Light on Key Issues

    Article The Sec. 41 R&D tax credit continues to be an important incentive for many companies; however, the incentive effect is often dampened by challenges in identifying, documenting, and defending the credit.
    Published on February 01, 2013

    Debt vs. Equity in the Tax Court

    Article While there is a lack of guidance from the IRS on determining whether an instrument constitutes debt or equity, there are many cases that have established a list of factors that assist taxpayers in making such a determination.
    Published on February 01, 2013

    Proactive Elections to Mitigate Sec. 382 Applicability

    Article Sec. 382, which limits the use of NOL carryovers after an ownership change of a loss corporation, often comes as a rude surprise to corporations in the fields of technology, life sciences, pharmaceutical, and similar industries.
    Published on February 01, 2013

    Tax Treatment When Employees Surrender Paid Time Off to Benefit Others

    Article There are various types of PTO donation and leave-sharing programs, not all of which are disaster-related. The tax treatment to the donating employee differs based on the type of program.
    Published on February 01, 2013

    Enhance Tax Courses With Documentaries, News Segments, and Other Nonfiction Video Resources

    Article Valuable nonfiction film and video resources for tax courses, specifically documentary films, news segments, and news stories can be found at many video libraries and video-sharing websites.
    Published on February 01, 2013

    Determining a Members Participation in LLC Activities

    Article Any trade or business activity of an LLC in which a member materially participates is not considered a passive activity. Material participation is a year-by-year determination.
    Published on February 01, 2013

    Current Developments in Partners and Partnerships

    Article This article reviews and analyzes recent rulings and decisions involving partnerships. The discussion covers developments in partnership formation, income allocations, and basis adjustments.
    Published on February 01, 2013

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