Daily Tax Report Index-Summary

DEBT

See also BANKRUPTCY
– Accounting

– – Classifying instruments with equity traits, IASB, FASB plan to explore new approach, 206:I–3 (10/28/09)
– – Convertible debt issuance, FASB issues update on share lending arrangements, 197:G–1 (10/15/09)
– – Credit quality disclosures, credit loss allowances, FASB project to stay independent of financial instruments work, 197:G–5 (10/15/09)
– – Deferred tax assets, liabilities, FASB includes in financial instruments project, Chrm. Herz says, 197:G–7 (10/15/09)

– COI income

See MUTUAL FUNDS; PARTNERSHIPS; S CORPORATIONS

– Collateralized debt obligations

See DERIVATIVES

– Credit cards

See CREDIT CARDS

– Foreign firm's loan origination ruling unique to facts, IRS officials stress, 198:G–6 (10/16/09); text of Advice Memorandum, 193:TaxCore (10/8/09); premise of IRS legal memo shaky, demonstrates need for formal published guidance, Viewpoint, 199:J–1 (10/19/09)
– Mortgage debt

See MORTGAGES

DEDUCTIONS

– Business expenses

See TRADE OR BUSINESS EXPENSES

– Charitable donations

See CHARITABLE CONTRIBUTIONS

– Depreciation amounts

See DEPRECIATION

– Executive pay

See EXECUTIVE COMPENSATION

– Itemized deduction cap

See HEALTH CARE REFORM

– Motor vehicle sales, tax break to expire by year end, IRS reminds taxpayers, 193:G–9 (10/8/09)
– Pension plan contributions

See PENSIONS

– Standard deduction, IRS announces inflation increase only for heads of household in 2010, 198:G–1 (10/16/09)

DEFENSE DEPARTMENT (DOD)

– FY2010 authorization

See LEGISLATION, FEDERAL, HR 2647

DEFERRED COMPENSATION

– Limits, GAO urges IRS to improve use of W-2 data, 192:G–1 (10/7/09)
– Nonqualified plans

– – Document corrections program for §409A may be released in weeks, IRS official says, 206:G–1 (10/28/09)
– – Errors, attorney urges §409A plan corrections via Notice 2008-113 to avoid penalties, 195:G–5 (10/13/09); attorney reviews most likely causes of noncompliance, discusses correction program, 199:G–7 (10/19/09)
– – NYSBA recommends revisions for §457A, 191:G–3 (10/6/09); NYSBA tax section letter, report, 191:TaxCore (10/6/09)
– – Treaties list, PLRs will not be part of §457A rules, official says, 207:G–5 (10/29/09)

– TARP rules, §409A, and §457A conflicts, Treasury counsel tells conference government must issue consistent pay rules, 207:G–3 (10/29/09)

DENMARK

– Tax review, Danish Economic Council report assails “tax freeze,” urges property tax reform, 206:I–2 (10/28/09)
– Taxpayer burden down, government claims, tax consultant doubtful, 194:I–3 (10/9/09)

DEPRECIATION

– Federal bonus, House Speaker Pelosi (D-Cal) calls for one-year extension, 202:G–8 (10/22/09)

DERIVATIVES

– Embedded derivatives

– – FASB shortens comment period on accounting guidance, scope exception, 193:G–2 (10/8/09); FASB issues revised rules to tighten exception, 196:G–2 (10/14/09)
– – IASB decision risks split with FASB, 192:I–1 (10/7/09)

DISASTER RELIEF

– Tsunami victims of American Samoa given tax relief, 189:G–11 (10/2/09)

DRUGS AND PHARMACEUTICALS

– Schering-Plough swap transactions, IRS counsel Dorfman addresses loan ramifications, Subpart F issue in case, 192:G–8 (10/7/09)