Table of Contents - April 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 Methods & Periods
• IRS Provides Procedures to Request Revision to Year of Change for Form 3115
Corporations & Shareholders
• Assumption of Liabilities in Taxable Asset and Sec. 338(h)(10) Acquisitions
• Restricted Stock in Acquisitions: IRS Provides Much-Needed Guidance
• Sec. 382 Ownership and Fluctuation in Value
Employee Benefits & Pensions
AICPA Comments on Automatic Contribution Arrangement Proposed Regs.
Estates, Trusts & Gifts
• Impact of the Supreme Court’s Knight Decision on Investment Advisers
Exempt Organizations
Expenses
IRS Changes Its Position on Performance-Based Compensation for $1 Million Compensation Limit
Foreign Income & Taxpayers
Tax Court Holds—Repeatedly—That Antarctica Is Not a Foreign Country
• CPM: The World’s Transfer Pricing Method
Form 1042 Information Reporting Requirements
Legislation
President Signs Stimulus Tax Legislation
Partners & Partnerships
Partnership Returns: Late Filing Penalties Increase
Personal Financial Planning
What Is Long-Term Care and Who Is Responsible for Its Cost?
Practice & Procedures
• CPA Obligations for Addressing Errors and Omissions
Procedure & Administration
Tax Practice and the Federal Criminal Code
by Arlene M. Hibschweiler
A Record-Breaking Year for e-Filing
by Laura Hurteau DaLomba
New Rules for Disclosure and Use of Tax Return Information by Tax Return Preparers
Closing Agreement Inapplicable to Successor in Interest
How IRS Inaction Stymies Abatement Requests
S Corporations
Understanding the Tax Consequences of Liquidation to an S Shareholder
Special Industries
• Tax Treatment of Payments in Common Pharmaceutical Agreements
State & Local Taxes
• Gross Receipts Taxes: A Growing Trend in State Taxation
• Sweet Rewards: State and Local Incentives Arrangements
Current Corporate Income Tax Developments (Part II)
by Karen J. Boucher and
Shona Ponda
