Daily Tax Report Index-Summary

BANKING

– Bad debts of acquisitions, Cal. decouples from IRS Notice 2008-83, 196:H–1 (10/14/09)
– Credit cards

See CREDIT CARDS

– Derivatives

See DERIVATIVES

– Failed thrifts

See SAVINGS AND LOAN ASSOCIATIONS (S&Ls)

– Fair-value accounting

See ACCOUNTING

– Foreign accounts, FBAR reporting

See INFORMATION REPORTING

– Mortgages

See MORTGAGES

– Offshore financial accounts, disclosure

See OFFSHORE HAVENS

– Secrecy

See LEGISLATION, FEDERAL, HR 3933, S 1934
– – Swiss bank UBS

See SWITZERLAND

BANKRUPTCY

– Nortel Networks, portion of IRS's $3B claim resolved (Bankr. D. Del.), 196:K–2 (10/14/09); text of stipulation, 196:TaxCore (10/14/09)
– PT-1 Communications, government denied interlocutory appeal of tax ruling (E.D.N.Y.), 197:K–1 (10/15/09); decision text, 197:TaxCore (10/15/09)
– Tax refunds, court rules on valuing prepetition interest (S.D. Ill.), 188:K–1 (10/1/09); decision text, 188:TaxCore (10/1/09)

BEER

See ALCOHOLIC BEVERAGE INDUSTRY

BELARUS

– International investors, new tax breaks pledged in 2010, 197:I–1 (10/15/09)
– State-run media offered new tax breaks, 207:I–1 (10/29/09)

BELGIUM

– Liechtenstein signs tax information exchange pact with Belgium, 205:I–1 (10/27/09)
– Tax treaty with U.S., competent authorities unveil agreement on beneficiaries, 198:I–3 (10/16/09); text, 198:TaxCore (10/16/09)

BNA ANALYSIS AND PERSPECTIVE

– Accounting

– – Bonus “clawback,” SEC suit shifts calculus on financial restatements, 191:J–1 (10/6/09)
– – Uncertain tax positions, private entities might not be ready for FIN 48, correction, 188:G–14 (10/1/09)

– City finance officers projecting no growth or declines in revenue sources, Natl. League of Cities reports, 192:J–1 (10/7/09)
– Supreme Ct. to tackle RICO's application in cigarette tax case, patent law challenge, 190:J–1 (10/5/09)
– Tax havens, states take variety of approaches regarding compliance issues, 194:J–1 (10/9/09)

BONDS, EXEMPT

– Economy and industry developments discussed at NABL workshop, 208:G–2 (10/30/09)
– Financing nation's infrastructure, CBO, JCT issue report on use of bonds, 205:G–2 (10/27/09); text, 205:TaxCore (10/27/09)
– Private activity bonds

– – AMT, coalition of transportation, education groups seek permanent AMT exemption for interest, 195:G–1 (10/13/09)
– – State volume limits, TIGTA reviews IRS oversight, 199:G–6 (10/19/09)

BONDS, TAXABLE

– Build America Bond program not aimed at halting exempt financing, House tax counsel says, 188:G–12 (10/1/09)
– Clean Renewable Energy Bonds, Treasury allocates $2.2B in CREBs, 206:G–8 (10/28/09)
– Tribal governments can apply for ARRA bonds, BIA notice, 208:G–12 (10/30/09)

BRAZIL

– Automobiles, Brazil begins process to eliminate excise tax credits, 188:I–2 (10/1/09)
– Exports, government decree sets payment terms for IPI excise tax debts, 199:I–4 (10/19/09)
– Foreign investments in securities, stocks, Brazil to tax, 201:I–4 (10/21/09)
– Income tax refunds delayed to cover government expenses, 195:I–2 (10/13/09); Brazil reverses decision on delay, 199:I–4 (10/19/09)
– Tax haven crackdown begins, 191:I–3 (10/6/09)

BUDGET, U.S.

– FY2010, continuing resolution

See LEGISLATION, FEDERAL, HR 2918*

– Pay-as-you-go statute, House Majority Leader Hoyer (D-Md) stands firm, Senate Budget Chrm. Conrad (D-ND) sees need for “larger negotiation,” 201:G–9 (10/21/09)

BUSINESS EXPENSES

See TRADE OR BUSINESS EXPENSES