TaxClinic

Practical Advice
on Current Issues

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Editor:
Edward A. Sair, J.D., CPA, MLT
Partner
Deloitte & Touche LLP
Washington, DC

Accounting Methods & Periods

Automobile dealers may use replacement-cost method to approximate vehicle-parts inventory cost

 

Consolidated Returns

Applying attribute reduction under Sec. 108(b) in a consolidated group

 

Exempt Organizations

Excess capital losses

 

Foreign Income & Taxpayers

New prop. regs. on bank-deposit interest paid to NRAs

Sec. 894 final rules for recharacterizing deductible payments

Software royalty source and withholding

 

Gains & Losses

Terminating debt instrument hedges

 

Interest Income & Expense

Favorable Rev. Rul. on contingent convertible bonds

If you would like additional information about these items, contact Mr. Sair at (202) 879-4931 or esair@deloitte.com.

Unless otherwise indicated, contributors are members of or associated with Deloitte & Touche LLP.