TaxClinic

Practical Advice
on Current Issues

Editor:
Anthony S. Bakale, CPA, M.Tax.
Cohen & Company
Baker Tilly International
Cleveland, OH

IN THIS DEPARTMENT

Employee Benefits & Pensions

Executive Stock Options under Senate Review

Estates, Trusts & Gifts

Seven Suggestions for IRS Estate/Gift Tax Audits

Exempt Organizations

IRS Bite Beginning to Mirror Its Bark

Expenses

New Ruling Expands Definition of “North American Area” for Attendance at Foreign Conventions

Foreign Income & Taxpayers

New Regs. for Use of Foreign Losses Included in U.S. Tax Filings: Dual Consolidated Losses

Repatriated Earnings under Sec. 965: Using the Safe-Harbor Test in 2007 to Ease Compliance Reporting and Protect Tax Benefits

Individuals

Divorce and Gain Exclusion

LLCs & LLPs

Tax Court Says Taxpayer Not at Risk for DRA

Real Estate

Ninth Circuit Affirms Self-Rental Rule

S Corporations

Open Account Debt for S Shareholders

Special Industries

Transfers to Investment Companies: Pitfalls of Secs. 351 and 721

State & Local Taxes

Change in Ohio Residency Rules

Unless otherwise noted, contributors are independent members of Baker Tilly International.