The following items were referenced in the Construction Contracting:  Special Accounting & Tax Considerations course given on August 25 & 26:

• Slides for Presentation – Keynote slides from presentation
• 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
• FASB Going Concern Project Status Page – discusses status of FASB’s continuing going concern project
• SSARS 19 Summary
• IRS Construction Industry Audit Technique Guide
• 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
• IRS Form 1120-UTP – Draft version of uncertain tax position reporting form
• TaxTalk – CalCPA sponsored discussions regarding taxes

Below are links mentioned in the August 18 presentation at the ASCPA offices in Phoenix, Arizona.

• Partnership – Audit Technique Guide – IRS guide last revised in August 2008
• FTB Position on TIC and Revenue Proc 2002-22 – FTB considers qualification under Revenue Procedure 2002-22 a minimum, but not necessarily in its self-sufficient, to qualify as an exchange of other than a partnership interest.
• Norwood v. Commissioner, TC Memo 2000-84
• 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
• ASCPA Blog Page - various postings here on tax updates
• Presentation Slides – PDF format file
• Partnership Recent Developments – Detailed description of selected developments impacting partnerships
• TaxTalk – CalCPA sponsored discussions regarding taxes

• 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.
• IRS AMT Assistant – IRS page to help determine if taxpayer may be subject to AMT.
• Bogus v. Commissioner – Tax Court decision this week that pointed out taxpayer should have kept records to support passive activity
• Levels of Authority – article detailing the various authority levels under the regulations
• Census Bureau NAICS website – referenced in chapter on like kind exchanges.
• FTB Position on TIC and Revenue Proc 2002-22 – FTB considers qualification under Revenue Procedure 2002-22 a minimum, but not necessarily standing alone sufficient, to qualify as an exchange of other than a partnership interest under §1031.
• Garnett v. Commissioner, 132 TC No. 19, IRS loses on argument that LLC is by definition a limited partnership for §469 purposes
• Hegarty v. Commissioner, TC Summary 2009-153, IRS loses the LLC argument again, this time with taxpayers representing themselves
• California Society TaxTalk group on Yahoo
• My Twitter Feed – my name on Twitter is edzollars

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 whereever I might be at the time.  If I’m not available, you can leave a voice mail.

• FASB Codification – registration required (free)
• FASB Going Concern Project – updated information is posted here
• AICPA Construction Contractors Audit and Accounting Guide – AICPA purchase link
• IRS Construction Industry Audit Guide – Revised May 2009
• California Society TaxTalk group on Yahoo
• Presentation Slides – in PDF format
• My Twitter Feed – my name on Twitter is edzollars

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 whereever I might be at the time. If I’m not available, you can leave a voice mail.

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.

• Partnership – Audit Technique Guide – IRS guide last revised in August 2008
• FTB Position on TIC and Revenue Proc 2002-22 – FTB considers qualification under Revenue Procedure 2002-22 a minimum, but not necessarily in its self-sufficient, to qualify as an exchange of other than a partnership interest.
• 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.
• TaxTalk Discussion Group – California Society sponsored
• Presentation Slides – PDF format file
• My Twitter Feed – my Twitter name is edzollars
• IRS Release on Extension of Offshore Program – the breaking news of the morning of the Santa Clara course

• Partnership – Audit Technique Guide – IRS guide last revised in August 2008
• Norwood v. Commissioner, TC Memo 2000-84
• 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
• TaxTalk Discussion Group – California Society sponsored
• Presentation Slides – PDF format file
• My Twitter Feed – my Twitter name is edzollars

Future presentations of this course offered by the Education Foundation:
Santa Clara – September 21
Ventura – September 24
Los Angeles (LAX area) – September 25

The following are links to items mentioned in the construction contracting course given for the Education Foundation on August 31 and September 2:

• FASB Codification – registration required (free)
• FASB Going Concern Project – updated information is posted here
• AICPA Construction Contractors Audit and Accounting Guide – AICPA purchase link
• IRS Construction Industry Audit Guide – Revised May 2009
• California Society TaxTalk group on Yahoo
• Presentation Slides – in PDF format
• My Twitter Feed – my name on Twitter is edzollars

Future presentations of this course offered by the Education Foundation:

October 22

– Costa Mesa