TaxClinic
Practical
Advice
on Current Issues
.
Editor:
Michael D. Koppel, CPA
Partner
Gray, Gray & Gray, LLP
Accounting Firms Associated, inc. (AFAi)
Westwood, MA
Accounting
Methods & Periods
Deferral of advance season
ticket revenue
Employee Benefits &
Pensions
Retirement plan distribution
final regs.
Estates,
Trusts & Gifts
BIG tax as a valuation factor
FLPs as estate planning tools
Expenses
IRS further clarifies software
cost capitalization
Taxpayers lose on expensing
improvement costs and amending returns
Gains
& Losses
Home-sale exclusion rules for
taxpayers affected by September 11
Individuals
Expanded innocent spouse
relief
Interest
Income & Expense
Individual income tax
underpayment interest is nondeductible
IRS denies COLI deductions
Procedure
& Administration
Final guidelines for QI
external audits
S
Corporations
Incorrectly deducted S losses
affect basis computation
State
& Local Taxes
Indiana nexus for intellectual
property
Unless
otherwise indicated, contributors’ firms are
associated with AFAi.
If you
would like like additional information about these items,
contact Mr. Koppel at (617) 482-1100 or mkoppel@graygraygray.com .
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