Federal Taxation

The newsletter of the ISBA’s Section on Federal Taxation

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2011 Articles

3 ways your business can run afoul of tax authorities By Gregory A. Zbylut May 2011 Steer clear of these minefields and you may have fewer tax-related headaches.
Audit Alert—A summary of the IRS Audit Plans for 2012 By James C. Krupp December 2011 Some notable “planned audits” and “performance challenges” for fiscal year 2012.
Be aware—A practical reminder as tax season approaches By Gregory A. Zbylut December 2011 A list of clients and issues to watch for.
Collection issues and the IRS By William M. Gasa May 2011 As a result of a recent IRS revision, there are now forms to complete when requesting a discharge or subordination of a federal tax lien.
Estate and Gift Tax recent cases and rulings By Joseph P. O’Keefe, Elizabeth C. Hesselbach, & Paul A. Fagyal February 2011 A summary of recent cases from the past year.
Estate and gift tax update By James C. Krupp April 2011 A summary of recent cases.
Income tax recent cases and rulings By Philip D. Speicher April 2011 A summary of recently decided cases relating to income tax.
IRS collection issues By William M. Gasa September 2011 A summary of the report to given to Congress addressing issues associated with IRS collection.
IRS guidance on carryover basis for 2010 decedents By Ryan A. Walsh December 2011 Form 8939, the basis allocation form required to be filed by executors opting out of the estate tax, is now due January 17, 2012.
The IRS: The taxman cometh By Stanley I. Foodman February 2011 In its latest budget proposal, the IRS requested funding to perform audits on 13,000 random tax returns—an effort to close the $300 billion-plus tax gap.
Letter from the editor By Joseph P. O’Keefe December 2011 An introduction to the issue from Editor Joe O'Keefe.
Portability By Leonard S. DeFranco May 2011 Portability is only available for gifts made or decedent’s dying on or after January 1, 2011, and only for previously deceased spouses who die on or after January 1, 2011. The provisions are scheduled to expire after December 31, 2012.
Potential presidential Republican candidates’ federal income tax proposals By Lauran Corcoran December 2011 A brief summary of the plans set forth by Rick Perry and Herman Cain.
Proving undocumented expenses, shifting burdens and avoiding penalties: A look at audit issues By Gregory A. Zbylut April 2011 In general, once the IRS issues a notice of deficiency, that notice is presumed correct, and you’re on the hook to prove that it’s not.
Section 7430—Awarding of costs and certain fees: Proposed technical corrections By George E. Marifian September 2011 Due to recent amendments, a current disparity in Section 7430 of the Internal Revenue Code gives rise to the result that, in practice, a taxpayer who settles an entire case in IRS Appeals even though he has received a 30-day letter, is entitled to no reimbursement.
Specific examples of why tax reform is needed By Michelle L. Heller September 2011 A summary of specific examples illustrating why tax reform is needed.
Summary of the Estate, Gift, and Generation-Skipping Transfer Tax Provisions of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 By Ryan A. Walsh February 2011 A look at transfer taxes under the new Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.
Tax Code reform By Leonard S. DeFranco September 2011 It is the belief of the Federal Tax Section Council that tax code modernization is essential for economic growth. Our collective goal is to suggest methods to effective and efficient tax practices.
Tax “holiday”—Emancipation Day By Nancy Franks-Straus April 2011 Find out the reason for this year's tax deadline extension.
The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010—A Summary By Gregory A. Zbylut February 2011 An examination of the new legislation, which extends some of the Bush-era tax cuts and adds some new provisions.
Tax Web site By Donna F. Hartl September 2011  Need tax research assistance? Want free help? Look no further! The Federal Tax Section of the ISBA maintains a Web site of helpful federal, state and local tax tools that go well beyond the basic links to the Internal Revenue Code and corresponding regulations. Check us out at <http://www.isba.org/sections/fedtax/links>.
Written policies required for non-profits By Donna F. Hartl April 2011 A list of written policies that the IRS is asking each tax-exempt organization to disclose this year.