Daily Tax Report Index-Summary

EARNED INCOME TAX CREDIT (EITC)

– Inflationary adjustment, CRS report describes changes for 2010, 204:G–4 (10/26/09)

ECONOMIC STIMULUS

– Bonus depreciation, NOL carryback should extend to 2010, House Speaker Pelosi (D-Cal) says, 202:G–8 (10/22/09)
– Businesses urge Congress to pass extenders package, 194:G–6 (10/9/09); U.S. Chamber of Commerce-coordinated letter signed by 507 firms, 194:TaxCore (10/9/09)
– Construction industry proposes tax incentives, policy changes to promote economic recovery, AGC blueprint, 188:G–3 (10/1/09)
– House Speaker Pelosi (D-Cal) says separate stimulus unlikely, support measures will be added to existing legislation, 202:G–9 (10/22/09)
– Job creation credit

– – Economic Policy Inst. says 2-year credit would create 5M jobs, 201:G–3 (10/21/09)
– – Partisan split seen in support for credit in new House stimulus, 193:G–4 (10/8/09); lawmakers discuss job creation options, 194:G–6 (10/9/09)
– – Ways-Means members not sold on White House proposal, 206:G–5 (10/28/09)

– NOL carrybacks

See LEGISLATION, FEDERAL, HR 2452, HR 3548

– Social Security, retiree payments of $250, administration proposal moving forward, 197:G–16 (10/15/09)
– 2008 rebate errors, IRS should distribute corrected stimulus payments, TIGTA says, 192:G–4 (10/7/09)
– 2009 package

See AMERICAN RECOVERY AND REINVESTMENT ACT (ARRA)

– Ways-Means Chrm. Rangel (D-NY) planning separate estate tax, jobs creation, tax extenders measures, 197:G–11 (10/15/09)
– White House economic advisory panel schedules open meeting Nov. 2, webcast, 198:G–5 (10/16/09); Treasury notice, 198:TaxCore (10/16/09)

EDUCATION

– Private school scholarships, Ga. explains tax credit limits, procedure for claims, 195:H–4 (10/13/09)

ELECTRONIC COMMERCE

– Banner ads not subject to N.Y. sales tax, 208:H–2 (10/30/09)
– Cigarette sales, RICO's application on Supreme Ct. docket, BNA Analysis & Perspective, 190:J–1 (10/5/09)
– eBay, Canadian court orders company to provide data on high-volume sellers, 194:I–2 (10/9/09)
– Sales tax simplification

– – Breakfast cereals and bars, SSUTA panel forwards interpretation on request, 207:H–1 (10/29/09)
– – Exemptions administration, SSUTA panel forwards amendment to governing board, 199:H–1 (10/19/09)
– – Governing board announces new officers, 188:H–1 (10/1/09)
– – Member state recertification, SSUTA panel gives preliminary approval to revised process, 194:H–1 (10/9/09); panel sends revisions to recertification rule to board, 203:H–1 (10/23/09)
– – Membership types, SSUTA governing board adopts amendment, tables measure on noncompliance sanctions, 188:H–1 (10/1/09)
– – Origin-based sourcing, SSUTA board adopts amendment, 188:H–1 (10/1/09)
– – Wis. adopts conforming amendments by emergency rule, 192:H–3 (10/7/09)

ELECTRONIC FILING

– Information returns, IRS corrects e-filing specifications, 195:G–7 (10/13/09)
– Mass. mandates e-filing by combined groups, some passthrough entities, 201:H–2 (10/21/09)
– Return preparer mandate expected to aid IRS meet e-filing goal, ETA Dir. says, 197:G–7 (10/15/09); Dir. Williams says HR 3548 includes mandate, 208:G–8 (10/30/09)
– Tip reporting, employer e-filing instructions updated, 199:G–10 (10/19/09)

EMPLOYEE BENEFITS

– Cafeteria plans, final rules will be delayed, Treasury official says, 200:G–7 (10/20/09)
– Form 5500, further guidance coming on Schedule C reporting, DOL official says, 194:G–7 (10/9/09); guidance provides direction to group health, retirement plans, 204:G–2 (10/26/09)
– Health coverage

See HEALTH CARE REFORM

– Pension plans

See PENSIONS

EMPLOYMENT AND UNEMPLOYMENT

– UI benefit funds

See UNEMPLOYMENT INSURANCE

– Worker classification

See EMPLOYMENT TAXES

EMPLOYMENT TAXES

– Annual returns, IRS sets procedures for eligible employers to opt in or out of filing Form 944, 205:G–1 (10/27/09); Rev. Proc. 2009-51, 205:TaxCore (10/27/09)
– FICA wage base adjustment unlikely in 2010, SSA actuary tells congressional staff, admin. officials, 188:G–8 (10/1/09); maximum tax remains static at 2009 level of $106,800, 198:G–1 (10/16/09)
– IRS processing mistake prompts notice to resubmit Form 941, Schedule B, 189:G–1 (10/2/09)
– Responsible persons, corporation's manager held liable for tax (U.S., rev den), 196:K–1 (10/14/09)
– Unemployment taxes

See UNEMPLOYMENT INSURANCE

– Worker classification

– – Detecting misclassification, GAO makes new recommendations, practitioner offers advice, Viewpoint, 195:J–1 (10/13/09)
– – FedEx drivers, 3 states propose suit over alleged employee misclassification, 202:K–1 (10/22/09); letter from N.Y., N.J., Mont. Atty. Gens., 202:TaxCore (10/22/09)

ENERGY

– Biofuels

See ALTERNATIVE FUELS

– Carbon emissions

See CLIMATE CHANGE

– Electric utilities

See UTILITIES

– Home improvements

See HOUSING

– Petroleum industry

See OIL AND GAS

– Renewable sources

See RENEWABLE ENERGY

ENVIRONMENT

– Global warming

See CLIMATE CHANGE

– Land conservation easements

See LEGISLATION, FEDERAL, HR 1831, S 812

ESTATE TAX

– Expenses, outstanding claims against estate, IRS issues final rules on deductions under §2053, provides limited exception, 199:GG–1 (10/19/09); text of TD 9468, 199:L–1 (10/19/09); Notice 2009-84 on exception for IRS to examine Form 706, 199:L–15 (10/19/09)
– IRS audit focus, SBSE counsel discusses at AICPA forum, 205:G–1 (10/27/09)
– Loans to family business are not interests for estate tax purposes (8th Cir.), 194:K–1 (10/9/09); decision text, 194:TaxCore (10/9/09)
– Relief

– – Bipartisan Ways-Means members' bill

See LEGISLATION, FEDERAL, HR 3905

– – Coalition of business groups supports compromise, AFBI critical, 192:G–5 (10/7/09); letter from Family Business Estate Tax Coalition, 192:TaxCore (10/7/09)
– – Ways-Means Chrm. Rangel (D-NY) planning measure, offsets not required, 197:G–11 (10/15/09); Rangel drafting bill to make 2009 tax rate permanent, statutory pay-go language possible, 203:G–5 (10/23/09); Dem member meet on estate tax, 206:G–5 (10/28/09)

ETHANOL

See ALTERNATIVE FUELS

EUROPEAN UNION (EU)

See also specific member nations
– Alcoholic beverages, EU drops threat of WTO challenge as Uruguay revamps tax scheme for imports, 191:I–3 (10/6/09)
– Climate change, EC to propose making carbon tax part of energy directive in 2010, 190:I–1 (10/5/09)
– Corporate relocations, EC challenges Spain, Portugal on exit taxes, 195:I–1 (10/13/09)
– Cross-border investment, EC proposes simplifying tax relief on securities income, 200:I–2 (10/20/09)
– Cross-border savings, EC says Luxembourg, Austria backtrack on withholding commitment, 201:I–2 (10/21/09)
– Political advertising on behalf of parties subject to VAT, ECJ rules, 193:I–3 (10/8/09)
– VAT violations alleged, EC takes legal action against member states, 195:I–2 (10/13/09)

EXCISE TAXES

– Air travel

See AIR TRANSPORTATION

– Cigarettes

See TOBACCO INDUSTRY

– Guns and ammunition

See FIREARMS

– Health insurance, Cadillac plans

See HEALTH CARE REFORM

– Imports, proposed TTB rules clarify link between tax payment under Code, drawback of tax, 197:G–1 (10/15/09)
– Liquor

See ALCOHOLIC BEVERAGE INDUSTRY

– Phone service

See TELECOMMUNICATIONS

– Single-owner disregarded entities treated as corporations for tax purposes, IRS corrects rules, 196:G–6 (10/14/09)
– TTB forms

See TAX FORMS

EXECUTIVE COMPENSATION

– Bonus “clawback,” SEC suit shifts calculus on financial restatements, BNA Analysis & Perspective, 191:J–1 (10/6/09)
– Deferred compensation plans

See DEFERRED COMPENSATION

– Health care industry, Senate Finance Comm. votes to curb deductions of insurance firms, 190:GG–1 (10/5/09); Grassley (R-Iowa) does not offer amendments on safe harbor for hospital executives, 190:GG–3 (10/5/09)
– Performance-based pay

– – Companies have time to amend plans to comply with §162(m) and §409A, attorney says, 199:G–7 (10/19/09)
– – Treasury and G-20 statements, practitioners cite discrepancies with current rules, 205:G–8 (10/27/09)

– TARP pay czar to offer tax suggestions to curb abuses, 207:G–10 (10/29/09)

EXEMPT ORGANIZATIONS

– Accounting, FASB to establish not-for-profit advisory committee, 203:G–1 (10/23/09)
– ACORN

– – Defunding

See LEGISLATION, FEDERAL, HR 2918*

– – Federal employee donations, OPM has no basis for barring affiliate from CFC, 206:G–7 (10/28/09); Dir. Berry's response to Grassley (R-Iowa), 206:TaxCore (10/28/09)

– Charitable donations

See CHARITABLE CONTRIBUTIONS

– Churches

– – Parsonages, foundation files complaint against tax benefits ministers receive (E.D. Cal.), 200:K–1 (10/20/09); text of complaint, 200:TaxCore (10/20/09)
– – Tax inquiries, commenters say proposed rule inconsistent with statute, 199:G–9 (10/19/09)

– Form 990

– – Foreign activity reporting, IRS plans changes for 2009, 200:G–1 (10/20/09)
– – IRS launches video series, 197:G–18 (10/15/09)

– Health care reform, Senate Finance Comm. bill would create nonprofit firms to sell insurance, reinsure, 196:GG–3 (10/14/09)
– Investigations, Treasury exempts certain records from Privacy Act rules, 193:G–3 (10/8/09); final rules, 193:TaxCore (10/8/09)
– Lobbying, IRS issues ruling on public charity support of groups that lobby, 190:G–4 (10/5/09); Alliance for Justice analysis of ruling, 190:TaxCore (10/5/09); unnumbered PLR on public foundations, charities under §501(h), 190:TaxCore (10/5/09); AFJ official says public charities freer to make grants related to lobbying under PLR, 201:G–9 (10/21/09)
– Political organizations may need to update browsers to file with IRS, 205:G–9 (10/27/09)
– Regional health information, IRS approves 30 applications for RHIOs, testing criteria continues, 196:G–5 (10/14/09)
– S.D. governor calls for review of sales tax exemptions, 189:H–2 (10/2/09)
– Supporting organizations

– – Functionally integrated Type III organizations, IRS releases memo on criteria for determinations, 194:G–6 (10/9/09)
– – Payout rate, attentiveness test focus of nonfunctionally integrated proposal, Treasury official says, 204:G–3 (10/26/09)
– – Proposed rules tighten links between charities, IRS officials say, 203:G–5 (10/23/09)
– – Responsiveness test, practitioner says removal of charitable trust alternative test follows law, will impede abuse, 195:G–3 (10/13/09)

EXEMPTIONS

– Bonds

See BONDS, EXEMPT

– IRS ruling summaries released, 195:K–3 (10/13/09)
– Nonprofit groups

See EXEMPT ORGANIZATIONS

EXPATRIATES

– AMT statute takes precedence over U.S.-Canada tax treaty (D.C. Cir.), 199:K–1 (10/19/09); decision text, 199:TaxCore (10/19/09)
– Companies

See INVERSION TRANSACTIONS

– “Exit tax,” IRS releases HEART Act guidance, 198:G–3 (10/16/09); Notice 2009-85, 198:TaxCore (10/16/09)