August 2014

August 29, 2014

Capital Gain, Not Amount Realized, Determines Application of Six-Year Collection Statute

The Tax Court held that gross income for purposes of Sec. 6501(e) statute of limitation calculations includes only the gain from the sale of investments and not the amount realized from their sale.

August 26, 2014

Final Rules Clarify When Issuer’s Obligation Under a Debt Instrument Is Part of a Straddle

The IRS provided guidance on when an issuer’s obligation under a debt instrument may be a position in actively traded personal property, in which case it can be part of a straddle.

August 22, 2014

New IRS Appeals Process Starts Sept. 2

The IRS Office of Appeals is changing the way it handles appeals to examination decisions.

August 14, 2014

Final Rules Clarify Retailers’ Treatment of Vendor Discounts in Inventory Valuation

Final regulations restate and clarify retailers’ computation of ending inventory value, including the application of common vendor discounts.

August 14, 2014

Regs. Govern Dispositions of Depreciable Property

The IRS issued final regulations providing rules for how to determine gain or loss when property subject to depreciation is disposed of, how to determine the asset disposed of, and how to account for partial dispositions of depreciated property.

August 7, 2014

Whistleblower Final Rules Expand Definition of Collected Proceeds

Comprehensive final regulations provide rules for whistleblower awards under Secs. 7623(a) and (b), as well as rules governing the disclosure of return information under Sec. 6103(h) to pursue these claims.