Daily Report for Executives Index-Summary

RACKETEER INFLUENCED AND CORRUPT ORGANIZATIONS (RICO) ACT

– Health insurance, physician failed to properly allege that United Healthcare violated RICO by mailing fraudulent explanations of benefits (U.S., rev den), 191:A–4 (10/6/09); 191:EE–12 (10/6/09)
– Online cigarette sales, RICO's application on Supreme Ct. docket, BNA Analysis & Perspective, 190:J–1 (10/5/09)

RADIO

See TELEVISION AND RADIO

RAILROADS

– Amtrak carried 1.5 million fewer passengers in FY2009, but still posted its second-highest yearly ridership figure in nearly 40 years, 196:A–3 (10/14/09)
– Comprehensive U.S. rail network, FRA releases document outlining demand for, benefits of, and planning for, 200:A–2 (10/20/09)
– High-speed rail

– – DOT receives $50B worth of applications for $8B allotment from stimulus finds, 192:A–19 (10/7/09); key lawmakers say FRA should spend $8B on several major projects that would have significant results, 197:A–19 (10/15/09)
– – Regional vision for system in Northeast and Midwest, coalition of state departments of transportation and advocates meet to discuss, 205:A–13 (10/27/09)

REAL ESTATE

See also HOUSING
– Commercial real estate loans, most underwritten by federally insured and well-supervised depository institutions, BNA Special Report, 191:C–1 (10/6/09)
– Managing problem loans, banks can trade interest for share in limited-liability company formed to hold, manage, and dispose of property, OCC announces, 206:EE–4 (10/28/09)
– Property taxes

See specific states

– Rehabilitation credit for buildings

See LEGISLATION, FEDERAL, HR 3715, S 1743

RECOVERY ACT

See AMERICAN RECOVERY AND REINVESTMENT ACT (ARRA)

RENEWABLE ENERGY

– Biofuels

See ALTERNATIVE FUELS

– Bonds, Treasury allocates $2.2B in CREBs, 206:G–8 (10/28/09)
– California

See CALIFORNIA

– Economically distressed areas

See LEGISLATION, FEDERAL, HR 3834

– Employment, clean energy investments could create 4.5 million jobs by 2030, report says, 203:EE–17 (10/23/09)
– Funding for programs

See LEGISLATION, FEDERAL, HR 2997*

– Investment into capacity, research and design fell estimated 25 percent to 40 percent in 2009 due to economic crisis and low fuel prices, IEA report, 199:A–1 (10/19/09)
– Loan guarantee applications, DOE seeks simple, certain transactions, officials say, 203:A–2 (10/23/09)
– Manufacturers' credit, advanced energy equipment

See MANUFACTURING

– Midwestern Governors Ass'n urged by advisory panel to adopt measures to promote renewable energy, 190:A–27 (10/5/09)
– N.M. amends rules on advanced energy tax credit, 192:H–3 (10/7/09)
– N.Y. Public Service Comm'n considers increasing state's renewable energy goal to 30 percent of all energy by 2015, 207:A–7 (10/29/09)
– Nuclear power preferable to poorly planned renewable “energy sprawl,” Alexander (R-Tenn) says, 191:A–26 (10/6/09)
– Obama says U.S. researchers need to take lead in developing renewable energy technology for country to lead global economy, 204:A–14 (10/26/09)
– Regionally organized electricity markets, FERC Chrm. Wellinghoff gives positive reviews, predicts they will accelerate Obama's environmental goals, 204:A–5 (10/26/09)
– Research projects, Advanced Research Projects Agency for Energy awards $151M, 205:A–9 (10/27/09)
– Solar energy

– – Power purchase agreements, Solar Energy Industries Ass'n seeks safe harbor guidance, 193:G–10 (10/8/09)
– – Research, development, and demonstration promotion

See LEGISLATION, FEDERAL, HR 3585

– – Zones, environmental advocates and solar developers disagree over scope, 204:A–17 (10/26/09)

– Transmission grid

– – Midwest Governors Ass'n pledges to develop regional collaborative to devise smart grid plan to connect Midwest's alternative energy resources to homes and businesses, 193:A–19 (10/8/09)
– – N.M. hub would be first to link 3 major electricity grids, 199:A–14 (10/19/09)
– – Obama announces $3.4B in funding to modernize system, 206:A–16 (10/28/09)
– – Siting new lines on federal lands, 9 federal agencies release agreement that federal officials say will reduce time for regulatory approvals, 207:A–9 (10/29/09)
– – Upgrades to enable distribution of power from far-flung renewable sources probably not needed as most states can meet renewable energy needs using resources within their borders, report says, 192:A–24 (10/7/09)
– – Western states seek interstate process to better coordinate siting of transmission lines, 207:A–25 (10/29/09)

– Wyo. explains deadlines and eligibility for sales tax exemption, 204:H–1 (10/26/09)

REORGANIZATIONS, CORPORATE

– Cross-chain sales, IRS corrects rules to modify election by consolidated groups after liquidation of target firm, 188:G–13 (10/1/09); correction to REG-139068-08, 188:TaxCore (10/1/09); to TD 9458, 188:TaxCore (10/1/09)
– Expatriate U.S. firms

See INVERSION TRANSACTIONS

– Hot stock rules, NYSBA commends IRS for limited approach, 190:G–1 (10/5/09); NYSBA tax section comments on TD 9345, REG-150670-07, 190:TaxCore (10/5/09)
– Possessions corporations, restructuring, IRS to monitor §936 exit audits, 196:G–6 (10/14/09); LMSB directive, 196:TaxCore (10/14/09)
– Reverse “Morris trusts,” New England House Dems seek repeal of tax provision, cite Verizon deals, 204:G–1 (10/26/09); letter to Ways-Means Chrm. Rangel (D-NY), 204:TaxCore (10/26/09)
– Target corporation's downstream merger into disregarded entity subsidiary, IRS counsel defends PLR, 208:G–4 (10/30/09)

REPORTING REQUIREMENTS

See INFORMATION REPORTING

RESEARCH AND DEVELOPMENT

– Accounting for asset acquisitions, combinations, FASB seeks comment on EITF positions, 189:G–2 (10/2/09)
– Comparative effectiveness research, fact sheet details role in health care reform efforts, 192:A–20 (10/7/09)
– Deere must include foreign branch amounts to determine §41 credit (T.C.), 203:K–1 (10/23/09); decision text, 203:TaxCore (10/23/09)
– Nanotechnology

See NANOTECHNOLOGY

– Permanent tax credit

See LEGISLATION, FEDERAL, HR 422

– Reduced research credit, IRS cancels hearing on proposed rules, 205:G–9 (10/27/09); comments on REG-130200-08 by Rosenthal, BDO Seidman, 205:TaxCore (10/27/09)
– Renewable energy, Advanced Research Projects Agency for Energy awards $151M, 205:A–9 (10/27/09)

RETAIL INDUSTRY

– Holiday sales, Natl. Retail Federation survey predicts 3.2 percent drop, 201:EE–7 (10/21/09)
– Online sales

See ELECTRONIC COMMERCE

– Sales

– – Census Bureau report, Sept., 197:EE–3 (10/15/09); text of Sept. data, 197:E–1 (10/15/09)
– – Chain stores, Sept., Intl. Council of Shopping Centers report, 194:EE–2 (10/9/09); week ended Oct. 24, 206:EE–4 (10/28/09)

– State, local combined taxes, Tax Found. reports on highest rates, 199:H–1 (10/19/09)
– Toxic substances, retailers adopting variety of practices to know about and manage chemicals in products they sell, report says, 206:A–16 (10/28/09)

RETIREMENT

See also PENSIONS; SOCIAL SECURITY
– Core principles for creation of new retirement system outlined by Retirement USA coalition, 202:A–16 (10/22/09); Obama admin. makes commitment to improve employer retirement system, Labor Sec'y Solis says, 202:EE–7 (10/22/09)
– Investments, disclosures, product development, and marketing issues will be areas of focus for SEC in 2010, Chrm. Schapiro says, 203:EE–11 (10/23/09)
– IRAs

See INDIVIDUAL RETIREMENT ACCOUNTS (IRAs)

– Total retirement benefits as percent of pay have declined since 2002, Watson Wyatt survey finds, 202:EE–13 (10/22/09)

RETURN PREPARERS

– Electronic filing mandate expected to help IRS meet congressional goal, ETA Dir. says, 197:G–7 (10/15/09); Dir. Williams says HR 3548 includes mandate, 208:G–8 (10/30/09)
– Fraudulent activities

See TAX FRAUD

– Regulation

– – Principles for preparer standards, coalition of tax preparers, consumer groups agree on, 206:G–1 (10/28/09); letter to IRS Comm'r, 206:TaxCore (10/28/09)
– – Public input phase finished, IRS expects release proposal this year, 197:G–9 (10/15/09); OPR Dir. Hawkins discusses unresolved issues, 197:G–12 (10/15/09)
– – Software industry representatives back IRS push for oversight under preparer rules, 188:G–10 (10/1/09); IRS enforcement key to successful oversight, tax software firms say, 197:G–18 (10/15/09)

– Testing requirements, exemption for CPAs and attorneys sought, KPMG practitioner responds to remarks by OPR Dir. Hawkins, 188:G–5 (10/1/09)
– Understatement penalties

– – IRS considering plan to finalize interim penalty guidance, 203:G–4 (10/23/09)
– – IRS did not abuse discretion in sustaining levy on tax preparer (T.C.), 194:K–2 (10/9/09); decision text, 194:TaxCore (10/9/09)

RETURNS

See TAX FORMS; TAX RETURNS

RHODE ISLAND

– Air pollution, Southeastern New England Shipbuilding to pay $224K to resolve state and federal air violations, EPA announces, 197:A–9 (10/15/09)
– Estate taxes, jobs credit, other regulations, hearings announced, 206:H–1 (10/28/09)

RICO

See RACKETEER INFLUENCED AND CORRUPT ORGANIZATIONS (RICO) ACT

RUSSIA

– Export sales, VAT refund rulings issued by Russia's Supreme Arbitration Ct., 201:I–3 (10/21/09)
– Extraction regulations, revenue provision delayed until Jan., 192:I–1 (10/7/09)
– Financial transactions, income tax guidance issued, 189:I–2 (10/2/09)
– Foreign company liability for profits tax, finance ministry issues guidance, 200:I–1 (10/20/09)
– Foreign employees, guidance issued on income tax liability, 189:I–2 (10/2/09); guidance issued on employees of Russian companies outside Russia, 194:I–2 (10/9/09)
– Foreign rating, surveying services exempt from VAT, 205:I–2 (10/27/09)
– Meat import quota system to be continued in 2010-12 period, 198:A–10 (10/16/09)
– Medical expenses, deduction guidance issued for subsidiaries of foreign firms, 196:I–2 (10/14/09)
– Money laundering case against Bank of New York Mellon, out-of-court settlement announced, 203:EE–4 (10/23/09)
– Motor vehicles, import duty of 30 percent on new cars and 35 percent on used cars extended, 196:A–4 (10/14/09)
– Profit tax guidance issued, 191:I–2 (10/6/09)
– Raw timber, enactment of prohibitively high export tariffs delayed, 198:A–10 (10/16/09)
– Securities, overseas stock trading limited to no more than 25 percent of total shares, 193:EE–2 (10/8/09)
– Securitization of financial assets, parliament adopts legislation, 202:I–1 (10/22/09)
– Strategic sectors, government issues new regulations for limiting foreign acquisitions, 206:A–4 (10/28/09)
– Tax evasion, Duma reviews amendments to criminal liabilities, 199:I–2 (10/19/09)
– VAT refunds, Duma reviews draft bill simplifying procedures, 204:I–1 (10/26/09)
– Veterinary and sanitary regulations amended to harmonize with international standards, 188:A–13 (10/1/09)
– WTO accession to take longer due to customs union with Belarus and Kazakhstan, Russian official concedes, 189:A–4 (10/2/09); countries still looking to join WTO as customs union, Kazakhstan official says, 193:A–11 (10/8/09); Kazakhstan to continue individual talks on WTO entry on some issues, ministry says, 196:A–7 (10/14/09); Russia, Belarus, and Kazakhstan drop plans to join WTO together as customs union, 198:A–15 (10/16/09); Belarus officials still favor joint accession, 206:A–7 (10/28/09)