Table of Contents - December 2007
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
• FAS 109 Valuation Allowance and Cumulative Losses Guidance
Corporations & Shareholders
• Transfers of Personal Goodwill in the Sale of a Closely Held Business
Credits Against Tax
• Does Imprisonment Constitute a Temporary Absence when Applying the EIC Residency Rules?
Depreciation
• Catch-Up Opportunities for Depreciation
Employee Benefits & Pensions
Current Developments in Employee Benefits and Pensions (Part II)
by Deborah Walker, Tom Veal, and Mark Neilio
Estates, Trusts & Gifts
• Private Annuities Can Still Save Estate Taxes
Expenses
IRS Cracking Down on Government Settlements
by Robert W. Wood
Foreign Income & Taxpayers
Foreign Earned Income Exclusion Housing Cost Limitations Increase
• 2008 Tax Rate Changes in China
Gross Income
• Subprime Lending Controversy Fuels Familiar Tax Issues
Individuals
• Self-Directed IRAs: Advantages, Challenges, and Options
Practice & Procedures
Service Phases Out Old EFTPS Software
Final and Prop. Regs. Amend Circular 230
Advisers Beware: The Cost of Being Sued Is Going Up
by Michael Lynch and Nicholas C. Lynch
District Court Holds That Tax Accrual Workpapers Are Privileged Documents
IRS Announces Its Nonacquiescence to Roxworthy Decision
Tax Court Holds That IRS Litigation Memos Are Protected Work Product
Practice Management
Attracting Young People to the Profession: What Can CPAs Learn from Doctors?
Procedure & Administration
IRS Proposes Adding Patented Transactions to List of Reportable Transactions
• Global Harmonization of Taxation
• Practical Considerations for the New Paid Preparer Penalty Rules and FIN 48
S Corporations
Preventing a Dissident Shareholder from Transferring Stock to Cause a Loss of S Status
State & Local Taxes
Michigan Business Tax: Overview and Issues to Consider
