TaxClinic

Practical Advice
on Current Issues

Editor:
Terrence Kelly, CPA
Partner
BDO Seidman, LLP
Phoenix, AZ

IN THIS DEPARTMENT

Accounting Methods & Periods

IRS provides replacement cost safe harbor for heavy equipment dealers

Sec. 263(a) 12-month rule and economic performance accounting method changes

Tax accounting issues for gift certificates and gift cards

Corporations & Shareholders

Statutory mergers

Exempt Organizations

Abusive tax transactions involving exempt organizations

Foreign Income & Taxpayers

Corporate inversions and the affiliate-owned stock rule

Tax Court strikes down timely filing requirement for foreign taxpayers

Gains & Losses

Basis of shares received in a reorganization

Treasury and IRS guidance sheds light on Sec. 199 deduction

LLCs and LLPs

Liquidation of an LLC member interest

Procedure & Administration

Corporate estimated tax requirements

If you would like additional information about these items, contact Mr. Kelly at (480) 659-3549 or tkelly@bdo.com.

Unless otherwise indicated, contributors are members of or associated with BDO Seidman, LLP.