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1. Change in Accounting Method Request Does not Qualify for Audit Protection
The IRS has ruled in technical advice (TAM 200738014) that a service provider's request for a change in accounting method for mixed service costs does ...
(PERIODICAL ARTICLE)
2. IRS issues second IDD on domestic productiondeduction.
The IRS has issued a follow-up directive to the industry director directive (IDD) issued on December 6, 2006 (LMSB-04-1206-018), on the Sec. 199 domestic production ...
(PERIODICAL ARTICLE)
3. Service addresses REIT's temporary investment ofnew capital.
In Letter Ruling 200740004, the Service determined that a real estate investment trust (REIT) qualified for the "temporary investment of new capital" rules for purposes ...
(PERIODICAL ARTICLE)
4. Prop. regs. reflect S corporation changes made by AJCAand GO Zone Act.
Treasury and the IRS have issued proposed regulations (REG-143326-05) on S corporation rules to reflect changes made by the American Jobs Creation Act of 2004, ...
(PERIODICAL ARTICLE)
5. Simplified method relief for late S and entityclassification elections.
In Rev. Proc. 2007-62, the Service provides an additional simplified method for certain eligible entities to request relief for late S elections and for late ...
(PERIODICAL ARTICLE)
6. Cash settlement and note from investment adviser arequalifying RIC income.
In Letter Ruling 200739010, the Service ruled that a regulated investment company's (RIC's) receipt of cash and a note from its investment adviser (IA) are ...
(PERIODICAL ARTICLE)
7. Prop. regs. will eliminate federal tax benefit formany captive insurance...
The Service has issued proposed regulations (REG-107592-00 and REG-105964-98) that, if adopted, will eliminate the federal tax benefit associated with most captive insurance companies that ...
(PERIODICAL ARTICLE)
8. IRS issues IDD on contractual allowance issues in thehealth care industry.
The Service has issued an industry director directive (IDD) (LMSB-04-0807-056) on contractual allowance issues in the health care industry. The IDD provides direction to the ...
(PERIODICAL ARTICLE)
9. FIN 48 compliance: disclosing tax positions in an ageof uncertainty.
EXECUTIVE SUMMARY * The interaction of FAS 109 and FIN 48 will result in greater public disclosure of tax planning techniques. * Under FIN 48, ...
(PERIODICAL ARTICLE)
10. Significant recent corporatedevelopments.
This article summarizes significant current developments affecting C corporations and consolidated returns. It covers new final, temporary, and proposed regulations and other noteworthy IRS guidance ...
(PERIODICAL ARTICLE)
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