February 2010 - The Tax Adviser

The AICPA has released its annual tax season resources for CPAs.

Under Sec. 475(f), taxpayers who are traders of stocks or other securities can make an election to mark to market the stock and securities they own in their capacity as traders at the end of each year.

Sec. 2036 requires the inclusion in a decedent’s estate of the value of property in which the decedent retained a lifetime income interest or the right to the possession or enjoyment of the property. This article examines new final and proposed regulations under Sec. 2036.

This article reviews and analyzes recent rulings and decisions involving partnerships. The discussion covers developments in partnership formation, debt and income allocations, distributions, passive activity losses, and basis adjustments.

This article discusses how state and local tax laws affect telecommuting and what the federal and state governments can do to prevent taxes from having a negative effect on the growth of the telecommuting movement.