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May 2015 - The Tax Adviser

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  2. May 2015
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FOREIGN INCOME & TAXPAYERS

FATCA: A New World of Terminology and Compliance

FATCA introduced a new reporting and tax withholding regime, effective July 1, 2014, that is directed at both foreign financial institutions and nonfinancial foreign entities to prevent tax evasion by U.S. citizens and residents through use of offshore accounts.

Tax Clinic

CONSOLIDATED RETURNS

Support for Corporate Structure Under State Corporate Practice of Medicine Rules

FOREIGN INCOME & TAXPAYERS

The Principal Tax-Avoidance Purpose: A Poison Pill for Inversions?

Reports of the Double Irish’s Death Are Greatly Exaggerated

GAINS & LOSSES

CCA Affects Taxpayer’s Ability to Qualify as a Real Estate Professional

GROSS INCOME

Tax Considerations for Cancellation-of-Debt Income

SPECIAL INDUSTRIES

IRS Provides Safe-Harbor Methods of Accounting to Cable System Operators

TAX ACCOUNTING

IRS Modifies Rules for Filing Accounting Method Changes and Procedures for Taxpayers Under Examination

exempt organizations

Final Regulations for Tax-Exempt Hospitals

partners & partnerships

Making a Valid Sec. 754 Election Following a Transfer of a Partnership Interest

Columns

CAMPUS TO CLIENTS

The VITA Program: Vital to Communities, Campuses, Students, and Employers

CASE STUDY

Considering Alternatives to Liquidation

NEWS NOTES

Tax Home Requires Incurring Expenses to Maintain a Home, Tax Court Holds

Small Employers Get Relief From Sec. 4980D Penalty

Small Businesses Get Relief From Complying With the Tangible Property Regulations

Proposed Slot Machine Safe Harbor Would Allow Gains and Losses to Be Netted

IRS Proposes to Allow Employees to Consent to FICA Refunds Electronically

IRS Considering Free Electronic Filing for Employment Tax Returns

ABLE Accounts Deemed to Comply With IRS Guidance

TAX PRACTICE RESPONSIBILITIES

Supervisory Obligations Under Circular 230

TAX TRENDS

Supreme Court Holds Challenge to Colorado Reporting Requirements Can Go Forward

Refunds of State Credits Are Includible in Income

TAX PRACTICE MANAGEMENT

2025 tax software survey

AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.

Tax Clinic

IRS generally eliminates 5% safe harbor for determining beginning of construction for wind and solar projects

IRS proposes using NAICS to determine lines of business for certain fringe benefit exclusions

IRS rules that community trust and affiliated nonprofit corporation can file a single Form 990

Prop. regs. issued on new qualified tips deduction

IRS rules for first time that REIT’s income from markup on electricity from EV charging stations is rents from real property