Table of Contents - August 2009
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.
Credits Against Tax
IRS Notice Provides Work Opportunity Tax Credit Definitions
• The American Recovery and Reinvestment Act’s Energy Provisions for Individuals
Exempt Organizations
• Revised Form 990: The Evolution of Governance and the Nonprofit World
Expenses & Deductions
New Car Buyers in States with No Sales Tax Can Still Take Sales Tax Deduction
IRS Requests Comments on Simplified Cell Phone Substantiation Rules
Deductibility of Bankruptcy Costs and the Origin of the Claim
Foreign Income & Taxpayers
Regs. Issued on 10/50 Foreign Corporations and Surrogate Corporations
Gains & Losses
• Deducting Ponzi Scheme Losses: Practical Issues
When Cost Segregation Costs Extra
Gross Income
• Two Recent Revenue Rulings Clarify Tax Treatment of Life Settlements
Individuals
• Exclusion for Income from Discharge of Indebtedness: Mortgage Debt Forgiveness
• Making the Most of the IRA Required Minimum Distribution Holiday
The Long Arm of Community Property Laws
Partners & Partnerships
Ninth Circuit Rules on Tax Court Jurisdiction in Partnership Cases
• Restructuring Partnership Debt May Create Unexpected Results
Practice & Procedures
Supreme Court Grants Cert. in Bilski Case
Procedure & Administration
Tax Preparer Penalties: Who Is a Preparer?
Treasury Provides Roadmap for Shift in Tax Burden
Ninth Circuit Awards Litigation Costs Paid by Third Party
Two Courts Address Tax Shelter Exception to Tax Practitioner Privilege
Real Estate
• Tax Planning for Troubled Debt
S Corporations
Avoiding S Corporation Debt Obligations That Are a Second Class of Stock
Tax Education
Service Learning and Tax: More Than VITA
