TaxClinic
Practical Advice
on Current Issues
Editor:
Lorin D. Luchs, CPA, J.D., LL.M.
Partner, Washington National Tax Office
BDO Seidman, LLP
Bethesda, MD
If you would like additional information about these items, contact Mr. Luchs at (301) 634-0250 or lluchs@bdo.com.
Unless otherwise indicated, contributors are members of or associated with BDO Seidman, LLP.
In This Department
Accounting Methods & Periods
Prop. regs. address carryover of accounting methods under Sec. 381
Consolidated Returns
Final regs. on consolidated group liquidations
Corporations & Shareholders
Debt discharge in corporate recapitalizations: Avoiding surprises
Credits Against Tax
Alternative motor vehicles and the AMT
Exempt Organizations
Revised 2008 Form 990 requires current action
Expenses
Federal, state, and local tax incentives for environmental remediation costs
IRS examines treatment of restructuring costs
Foreign Income & Taxpayers
Foreign tax credits: Reducing eight categories to two
U.S. withholding tax imposed on foreign tax-exempt organizations
S Corporations
Compensation issues for self-employed S corp. owners
IRS offers opportunity for 2% shareholders of S corp
