Table of Contents - February 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.
Accounting Methods & Periods
• Taxpayers Should Be Proactive When Filing Accounting Method Changes
• Treatment of Gift Card/Certificate Sales: No Answers, More Questions
Employee Benefits & Pensions
Congress Passes Pension Amendments
Sec. 409A Prop. Regs. and Guidance for Noncompliant Plans
• Determining the Correct FMV of Private Company Stock When Stock Options Are Granted
• Subsequent Deferral Elections May Bring Surprises Under Sec. 409A
Estates, Trusts & Gifts
• Be Careful Making Disclaimers Where Trusts Are Involved
Foreign Income & Taxpayers
• IRS Crackdown on Form 5471: A Sign of Things to Come?
• IRS Provides a Simplified Method for Late Filing Relief
• Requirements for the Creation of Permanent Establishment in Germany
IRS Focuses on Form 1042 Examinations
Tips for Preparing the Form 5471 for Controlled Foreign Corporations
Gross Income
IRS Issues Guidance on Determining Wagering Gains and Losses
Individuals
Dependency Status for a Child of Divorced or Separated Parents
Interest Income & Expense
• Casting Doubt on the Accrual of Interest
LLCs & LLPs
Using a Limited Liability Partnership as the Entity of Choice
Partners & Partnerships
Current Developments in Partners and Partnerships
Practice & Procedure
Procedure & Administration
Guidance on Sec. 6694 Preparer Penalty Issued
Withholding Taxes Made a Tier I Issue
• New Regs. Govern Overseas Disclosure and Use of Taxpayer Information
• New Transaction of Interest Identified
• The Tax Return Preparer Standard: Policy Developments
IRS Issues Final Regulations on Sec. 6694 Tax Return Preparer Penalties
State & Local Taxes
• Maryland Tax Court Adopts Economic Substance Doctrine
Tax Education
Adapting Accounting Education to the Generations: Working with the Millennials
