Wednesday, July 9, 2008

Charitable Remainder Trust

›
Charitable remainder trust can be divided into separate trusts without adverse tax consequences Rev Rul 2008-41, 2008-30 IRB Mike Habib, E...

Cell Phone Deductibility

›
IRS discusses easing of cell phone recordkeeping requirements [Information Letter 2008-0012]: The IRS has issued an information letter in ...
Tuesday, July 8, 2008

LP Limited Partner Deductions

›
Limited partner's investment interest from trader partnership deductible above-the-line Rev Rul 2008-38, 2008-31 IRB; Ann. 2008-65, 2008...
Wednesday, July 2, 2008

Opportunity Letter - Offshore Account

›
Judge: IRS can seek tax information from Swiss banking giant UBS in expanding investigation Associated Press WorldStream via NewsEdge : ...

Rules for claiming a dependent child

›
Final regs on dependent child of divorced or separated parents or parents who live apart T.D. 9408, 07/01/2008; Reg. § 1.152-4 Mike Habib...

Property Seizure Compliance

›
TIGTA results of 2008 review IRS compliance with legal guidelines when conducting property seizures [Audit Report No. 2008-30-126]: IRS has ...

Unemployment Benefits Extended

›
New bill extends unemployment benefits for 13 weeks The President has signed into law H.R. 2642, “The Supplemental Appropriations Act of 200...
Tuesday, July 1, 2008

House passes AMT relief

›
House passes AMT relief with bipartisan majority - President threatens veto On June 25, the House by a vote of 233 to 189 approved H.R.627...

Shareholder Constructive Distribution

›
Loan repayment to shareholder's spouse wasn't constructive distribution Beckley, 130 TC No. 18 (2008) Mike Habib, EA The Tax Cour...

Employment / Payroll Tax Adjustments

›
Final regs include new process for reporting employment tax adjustments and refund claims T.D. 9405, 06/30/2008, Reg. § 31.6011(a)-1, Reg....
Monday, June 30, 2008

Sales Tax BOE Announcement

›
Judy Chu Announces No More Paper Returns for Most BOE Taxpayers Sales Tax Audit? Sales Tax Problem? BOE or SBE Issues? Get Sales Tax Res...

Carbon Dioxide and the IRS?

›
Gain from selling carbon dioxide allowances didn't generate foreign personal holding company income PLR 200825009 Mike Habib, EA IRS...
Friday, June 27, 2008

Tax man is coming soon

›
House Subcommittee Passes IRS Funding Bill The House Appropriations Financial Services Subcommittee this week passed a bill that would appr...
Thursday, June 26, 2008

Business Economic Stimulus

›
Business Provisions of the Economic Stimulus Act of 2008 Mike Habib, EA The Economic Stimulus Act of 2008 contains two provisions that provi...

Disaster Victims Tax Relief

›
More disaster victims in Indiana, Iowa and Wisconsin qualify for tax relief IRS website [ http://www.irs.gov/newsroom /article/0,,id=108...
Tuesday, June 24, 2008

CFC Controlled Foreign Corporation Tax Problem?

›
Regs crack down on tax avoidance repatriations of CFC earnings Preamble to TD 9402, 06/23/2008; Reg. § 1.956-1T; Preamble to Prop Reg 06/23...