Appendix 1 Bankruptcy/InsolvencyComparison of Old and New Law
The Toolkit Companion Disc to the Accountant's Business Manual Supplement 48 contains an error. Bankruptcy/Insolvency Appendix 1, Comparison of Old and New Law, was one of the appendix files that was mistakenly omitted from the 2011-2012 CD, which would have been included with your supplement...
Published on February 02, 2012
Exhibit 1 Form 1040NR foreign national questionnaire
Published on February 12, 2010
Careful Analysis Required for Potential Regs. Sec. 1.752-7 Liabilities
Regs. Sec. 1.752-7 defines what constitutes a 1.752-7 liability, how these liabilities are treated when assumed by the partnership or another partner, and the impact of a later...
Published on April 01, 2010
Electronic Schedules K-1
The IRS issued rules partnerships must follow if they want to supply Schedules K-1 electronically
Published on April 01, 2012
Interpretations of SSTS No.1, Tax Return Positions
Recently issued revised and updated interpretations of the AICPA’s SSTS No.1, Tax Return Positions, provide guidance to practitioners on tax reporting standards when recommending return positions or preparing or signing returns
Published on May 01, 2012
Taxability of Employer-Owned Life Insurance Contracts
Sec. 101(j)(1) limits the amount of tax-free treatment a person (which can be any type of entity) can receive from the proceeds on an employer-owned life insurance (EOLI) contract...
Published on December 01, 2009
New Rules Seek to Reduce Tax Advantages of Converting Second Home to Principal Residence
Beginning January 1, 2009, the full $250,000/$500,000 exclusion under Sec. 121 will no longer be available on the sale of a taxpayer's principal residence if the residence was...
Published on December 01, 2008
Revenue Procedure Adds New Disclosure Requirements for Grouping of Passive Activities
Regs. Sec. 1.469-4 sets forth rules for grouping a taxpayer’s trade or business activities and rental activities for purposes of applying the passive activity loss and credit limitations. Under...
Published on May 01, 2010
Customer Reward Programs Deducting Fulfillment Costs Prior to Economic Performance
Regs. Sec. 1.451-4 provides a narrow exception to the economic performance rules that allows accrual-basis taxpayers who issue premium coupons (or trading stamps) to deduct the estimated fulfillment cost...
Published on August 01, 2012
IRS Publishes FAQs on Small Business Health Care Credit
On April 1, the IRS published on its website 22 questions and answers about the new small business health care tax credit
Published on June 01, 2010