The items below were referenced in the presentation on Advanced Tax Practice given in Springfield, Oregon on June 22, 2011.
Presentation Slides – PDF of slides from the presentation given in Tucson at the State Bar of Arizona Convention tax sessions on June 17, 2011, modified to include some CPA relevant information including Oregon regulation directly adopting Circular 230 and the SSTSs as standards for Oregon CPAs.
Circular 230 – The version currently on the IRS website. This version does not include the Circular 230 modifications that take effect on August 2, 2011 as of the date of this post. Hopefully when the IRS updates the document this link to the IRS website will link to the revised version.
Revisions to Circular 230 – Revisions to Circular 230 effective on August 2, 2011. If using the April 2008 IRS version of Circular 230 from their website, you will need to consult this document for the newly effective changes.
Last Minute Developments – Announcement 2011-14 (IRS rules that lactation expenses are medical expenses), CCA 201106009 and CCA 201106010 (ruling on amounts paid by hotels and resorts to cab drivers)
FASB Codification – current accounting standards. Can obtain free account. Premium accounts have additional features, but even the free account has access to the entire codification
Koch Industries v. United States, CA10 No. 08-3347 – road construction contractor could not include contracted expected maintenance as part of job for percentage of completion purposes
FSA 20102601F - 2010 IRS Field Service Advice on priority of California Stop Notice over federal tax lien for proceeds due from contractor
CCA 201046009 – IRS explanation on due dates, collection issues and statute of limitations on claims for look back interest filings.
Congressional AMT Letter – Letter signed by chairs and ranking minority members of Senate Finance Committee and House Ways & Means Committee indicating they plan to pass an AMT patch.
IRS’s New View on Acquisition Debt – Article describing CCA 200940030 where the IRS decided you could deduct interest on $100,000 of acquisition debt in excess of $1,000,000 as home equity debt. This view has now been formalized by the IRS in Revenue Ruling 2010-25.
IRS AMT Assistant – IRS page to help determine if taxpayer may be subject to AMT.
Levels of Authority – article detailing the various authority levels under the regulations
The following links were discussed in the Current Federal Tax Developments Course on December 17, 2009 in Pendleton, Oregon:
December Updates – New developments that took place after the manual was printed.
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
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
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