TaxClinic

Practical Advice
on Current Issues

Editor:
David J. Kautter
Partner
Ernst & Young LLP
Washington, DC

IN THIS DEPARTMENT
 

Accounting Methods & Periods

IRS Updates Automatic Approval Procedures for Accounting-Period Changes

Charitable Contributions

IRS Issues Transition Guidance on Appraisal Requirements for Noncash Charitable Contributions

Corporations & Shareholders

IRS Issues Guidance on Sec. 355 Active-Trade-or-Business Test

Foreign Income & Taxpayers

Prop. Regs. Reduce RIC Reporting Burden for Foreign-Source Income and Foreign Taxes Paid

Sec. 911 Housing Guidance Likely to Reduce Some Employers’ Costs

Gains & Losses

IRS Issues Prop. Regs. on Exchanges for Annuities

Partners & Partnerships

Final Regs. on Partnership Allocations of CFTEs

Final Regs. on Treatment of Disregarded Entities under
Sec. 752

Procedure & Administration

Information Reporting for 2006 Exempt Interest

IRS Formally Establishes Appeals Arbitration Program

Unless otherwise indicated, contributors are members of or associated with Ernst & Young LLP.