10.18.10

Current Federal Tax Developments, Tax Research Systems & Methods – Fairmont, MT, October 18-19, 2010

Posted in Montana at 5:32 am by Ed Zollars, CPA

Below are items discussed in the Current Federal Developments course given on October 18, 2010 at the Fairmont Hot Springs Resort in Fairmont, MT:

• Findlaw Cases & Code – Links to Findlaw resources for US Code, Regulations & Court Cases.  Court pages contain option to sign up for email of new cases released each day.
• US Tax Court – Ruling posted Monday-Thursday at 1:30 pm Mountain time.
• IRS Rulings – “Drop” site for Revenue Rulings, Revenue Procedures, Notices and the like
• IRS Written Advice - Location for IRS postings on private letter rulings, technical advice memoranda, Chief Counsel Advice and similar “nonbinding” guidance that is issued by the IRS Chief Counsel’s office
• Recent Updates – developments since the manual was printed last week

Permalink Comments

10.20.09

Passthrough Entities – Advanced (October 20)

Posted in Montana at 1:00 am by Ed Zollars, CPA

The following items were discussed in the Passthrough Entities – Advanced:

• Presentation Slides – PDF of slides on topics in the manual
• Partnership – Audit Technique Guide – IRS guide last revised in August 2008
• Norwood v. Commissioner, TC Memo 2000-84
• Garnett v. Commissioner, 132 TC No. 19, LLC members aren’t automatically passive (LLC member not the same as limited partner)
• Revised Procedure for Late Entity Selection – revised manual pages on new late election Revenue Procedure effective September 28, 2009.
• Article on Partnerships and §6501(e) Six Year Statute – article I wrote for the Arizona Society of CPAs blog site.
• IRS FAQ on Unified Partnership Audits – Chief Counsel Notice issued August 21, 2009
• Suzanne J. Pierre v. Commissioner– Check the box does not apply to single member LLC for gift tax valuation
• Malkin v. Commissioner – Taxpayer blows transfer tax planning due to both implied retained life estate and indirect gift on formation problems, among others.

Below is a Google Voice connect box. You can click on the button, provide your phone number, and Google will connect us toll free by calling you back and then, when you answer, calling me. The call is forwarded to me wherever I might be at the time. If I’m not available, you can leave a voice mail.

Permalink 1 Comment

10.19.09

Current Federal Tax Developments – October 19

Posted in Montana at 1:00 am by Ed Zollars, CPA

Links mentioned in Current Federal Tax Developments course given October 19, 2009:

• 2010 Inflation Adjusted Figures – or perhaps, more appropriately, nonadjusted for most things since there was a drop in the index from 9/30/08 to 9/30/09
• Infant Formula Not Deductible Medical Expense – Recent IRS PLR for mother with double mastecomy that asked for deduction for infant formula for her new child
• New Reg. §1.152-4 effective for 2009.  Effectively forces the use of Form 8332 to release exemption and makes clear noncustodial parent cannot use the divorce decree
• Arizona Society of CPAs Blog Post on Menard case – An analysis of the Seventh Circuit’s ruling in the Menard case I wrote when the case came down back in March.
• Arizona Society of CPAs Blog Post on Madoff Rulings – Another blog post I wrote up describing the Madoff rulings.
• Hegarty v. Commissioner, TC Summary 2009-153, latest IRS loss on LLC as limited partner for §469 purposes.
• IRS Section 183 Audit Technique Guide – guide for IRS agents to use in examining activities potentially not engaged in for profit
• IRS Listed Transactions - The official and updated IRS list of listed transactions that are subject to reporting.
• INFO 2009-0087 - The IRS explains the first time homebuyer credit marriage penalty
• Construction Industry Audit Guide – IRS guide updated  May 2009
• List of Audit Technique Guides – List on IRS website of currently published Audit Technique Guides
• FIN 48 Final Guidance for Public Companies - Accounting Standards Update 2009-06
• Qualified Plan Limitations for 2010 – IRS News Release

Below is a Google Voice connect box. You can click on the button, provide your phone number, and Google will connect us toll free by calling you back and then, when you answer, calling me. The call is forwarded to me wherever I might be at the time. If I’m not available, you can leave a voice mail.

Permalink Comments