Table of Contents - June 2008
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
• Defining a Method of Accounting
• Gift Card and Gift Certificate Income Deferral
• IFRS Is Coming: What Does This Mean for Tax?
• When Is Income Recognized Under Cost-Plus Contracts?
Corporations & Shareholders
• Check the Timing of the Check-the-Box Election
Credits Against Tax
• Reduced Credit for Increasing Research Activities
Employee Benefits & Pensions
Tax Planning with Single-Employer Qualified Plans
by Kevin J. Donovan
Estates, Trusts & Gifts
Prop. Regs. Ease UBTI Consequences for CRTs
How Will Final Regs. Apply the Knight “Commonly Incurred” Test?
by Carol Cantrell
IRS Issues Prop. Regs. in Response to Kohler Case
Expenses
IRS Issues Prop. Regs. on Capitalization of Improvements to Property
• Sec. 199 Final Regs. on TIPRA Amendments and More
Foreign Income & Taxpayers
Foreign Bank and Financial Account Information Reporting Deadline Near
Tools for Tax Planning for Foreign Nationals
By Laura K. Barooshian and Karl L. Fava
Gross Income
• Sec. 1341 Roundup: Court Decisions and IRS Advice Offer Little Clarity
Individuals
IRS Previews Sec. 529 Plan Anti-abuse Regs.
LLCs & LLPs
Handling Gifts and Bequests of LLC Interests
Partners & Partnerships
• Flexibility in Retroactive Partnership Agreement Amendments
Practice & Procedures
Pilot Program Tests EFTPS Interface with QuickBooks
Practice Management
Concerns About CPA Letters to Third Parties
Procedure & Administration
• Swallows Decision Renews Questions About Judicial Deference to Tax Regs.
S Corporations
IRS Posts Guidance on Changing from C Corp. to S Corp.
• Traps for the Unwary: Rollovers and the Sec. 338 Election
State & Local Taxes
A New Dimension for LLCs in California


