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September 2018 - The Tax Adviser

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  2. September 2018
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INDIVIDUALS

Recent developments in individual taxation

This semiannual review covers changes made by the TCJA, cases and guidance involving hobby losses, qualifying as a real estate professional, innocent spouse relief, and other key topics affecting individuals.

GAINS & LOSSES

Personal casualty losses from natural disasters

This article discusses calculating and reporting the deduction for losses related to residential property and other nonbusiness property from natural disasters for federal tax purposes.

TAX CLINIC

CHARITABLE CONTRIBUTIONS

Land donations may not result in desired tax benefit

corporations & shareholders

Restructuring foreign investment in U.S. real property

employee benefits & pensions

5 key benefits of cash balance plans

expenses & deductions

Timing of the tax deduction for worthless intangibles

INTEREST INCOME & EXPENSE

Sec. 163(j) places renewed importance on tax shelter status

PRACTICE & PROCEDURES

LB&I campaigns update

STATE & LOCAL TAXES

Potential pitfalls of state income tax incentives for passthroughs

Initial perspectives on Wayfair

COLUMNS

NEWS NOTES

AICPA recommends priorities for IRS tax guidance

IRS gives taxpayers penalty and late-election relief for Sec. 965 transition tax

Draft 2019 Form W-4 released

IRS releases revised draft 2018 Form 1040

IRS withdraws partnership regs. on disguised sales

STATE & LOCAL TAXES

Supreme Court abolishes physical presence requirement for sales tax collection

TAX PRACTICE MANAGEMENT

Third-party verification requests

PERSONAL FINANCIAL PLANNING

Financial planning dialogues around Form 1040

CASE STUDY

Leasing property to a corporation

TAX TRENDS

Stock options not taxable income under RRTA

S corporation shareholder cannot take FICA tip credit

INDIVIDUALS

Current Developments in Taxation of Individuals: Part 1

This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending October 2025.

Tax Clinic

Planning for domestication transactions

Planning for new charitable contribution limits

Effect of the new pro rata share rules

Determining when a debt instrument has zero basis

Structuring partnership mergers