Table of Contents - January 2008
Note: In accordance with IRS Circular 230, Regulations Governing the Practice of Attorneys, Certified Public Accountants, Enrolled Agents, Enrolled Actuaries, and Appraisers before the Internal Revenue Service, the information on this website is not intended or written to be used as, and cannot be used as or considered to be a "covered opinion" or other written tax advice, and should not be relied on for the purpose of (1) avoiding tax-related penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any transaction or tax-related matter(s) addressed herein, for IRS audit, tax dispute or other purposes.
Bullets indicate items in the Tax Clinic department.
Accounting Periods & Methods
• Change in Accounting Method Request Does Not Qualify for Audit Protection
FIN 48 Compliance: Disclosing Tax Positions in an Age of Uncertainty
Consolidated Returns
• Accounting Period Changes Affecting CFCs and Corporations Exiting a Consolidated Group
Corporations & Shareholders
Final Regs. Issued on Corporate Reorganizations
Significant Recent Corporate Developments
Employee Benefits & Pensions
Evaluating Whether to Adopt a Retirement Plan
Estates, Trusts & Gifts
Service Changes Policy on Estate Tax Installment Payments
• Ninth Circuit Affirms Transferred Residential Property Must Be Included in Gross Estate
Exempt Organizations
• IRS Releases New Form 8886-T and Final Instructions
Expenses
IRS Updates Rules for Substantiating Travel Expenses
Foreign Income & Taxpayers
Prop. Regs. Clarify Source of Compensation Rules
Gross Income
IRS Agrees That Payments from VA Work Therapy Program Are Not Includible in Income
Personal Financial Planning
Baby Boomers Brace for Longevity Risk with Guaranteed Annuities
Tax Practice & Procedures
• IRS Issues IDD on Contractual Allowance Issues in the Health Care Industry
IRS Expands Its Offset Authority
IRS Announces 1040 Modernized E-File Program
Procedure & Administration
• IRS Issues Second IDD on Domestic Production Deduction
Real Estate
• Service addresses REIT’s Temporary Investment of New Capital
S Corporations
• Prop. Regs. Reflect S Corporation Changes Made by AJCA and GO Zone Act
• Simplified Method Relief for Late S and Entity Classification Elections
Special Industries
• Cash Settlement and Note From Investment Adviser Are Qualifying RIC Income
• Prop. Regs. Will Eliminate Federal Tax Benefit for Many Captive Insurance Companies
