TaxClinic
Practical Advice
on Current Issues
.
Editor:
Edward
A. Sair, J.D., CPA, MLT
Partner
Deloitte & Touche LLP
Washington, DC
Accounting
Methods & Periods
Congress
reinstates installment method for accrual-basis
taxpayers
Corporations
& Shareholders
Sec. 482 and
the sham-transaction doctrine
Exempt
Organizations
Final regs.
on travel and tour activities
New tax
reporting requirements for political organizations
Expenses
Capitalization
requirement in Wells Fargo reversed
New
guidelines on tax accounting for software costs
Foreign Income
& Taxpayers
IRS releases
transition rules for new withholding requirements
Gains &
Losses
Capital gains
planning for 2001—an important new rule
No Federal
income tax consequences for release of co-obligor on
debt instrument
Reverse
like-kind exchange safe harbor
Gross Income
Loan/bonus
arrangement results in immediate income to employee
Partners &
Partnerships
Mandatory
large partnership e-filing for 2000
S Corporations
Rev. Rul.
2000-43 confirms IRS position denying accrual-basis
deduction for S corporation charitable contributions
Supreme
Court allows S basis increase for excluded DOI income
Unless otherwise indicated,
contributors are members of or associated with Deloitte
& Touche LLP.
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