Daily Tax Report Index-Summary

PARTNERSHIPS

– Debt discharge, deferral, IRS considers remaining §108(i) issues for new guidance, official says, 202:G–4 (10/22/09); future guidance on §108(i) to address acceleration issues, official says, 207:G–1 (10/29/09)
– IRS guidance priorities, officials say IRS working to release several rules projects from 2008 plan, 207:G–1 (10/29/09)
– Late elections, IRS guidance on requesting relief received well, official says, 202:G–4 (10/22/09)
– Mergers, tiered structures, and divisions, practitioner comments sought on §704(c) gain and loss rules, 189:G–3 (10/2/09)
– Short sale obligation qualifies as partnership liability under §752 (Fed. Cir.), 207:K–1 (10/29/09); text of Marriott decision, 207:TaxCore (10/29/09)
– Tax shelter cases

See TAX SHELTERS

PATENTED TAX STRATEGIES

See TAX PRACTICE

PAYROLL TAXES

See EMPLOYMENT TAXES

PCAOB

See PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD (PCAOB)

PENNSYLVANIA

– Alcoholic “drink tax,” high court upholds rulings barring referendums from ballot (Pa.), 192:K–1 (10/7/09); decision text, 192:TaxCore (10/7/09)
– Budget gap, lawmakers approve revenue raisers totaling $1.5B, 194:H–1 (10/9/09); governor signs bill, 196:H–3 (10/14/09)
– Ponzi schemes and theft losses, tax guidance released, 200:H–2 (10/20/09)

PENSIONS

See also SOCIAL SECURITY
– Abuses, IRS to investigate promoter schemes disguised as retirement plans, 202:G–6 (10/22/09)
– Accounting, IASB votes to finalize proposed corrections to international accounting guidance, 203:I–3 (10/23/09); lack of constituent consensus pushes IASB to drop IAS 19 discount rate fix, 204:I–1 (10/26/09)
– Benefit restrictions, underfunded plans, IRS issues final rules under §436, 193:GG–1 (10/8/09); text of TD 9467, 193:Text Supp (10/8/09); no notices required on lump sum payment restrictions for those in pay status, IRS says, 196:G–6 (10/14/09); practitioners find much to like, dislike in final rules, 197:G–16 (10/15/09)
– Cash balance plan sponsors facing deadline look to IRS for guidance on interest crediting rates, 190:G–3 (10/5/09); letter from Coalition to Preserve the Defined Benefit System, ERIC, Am. Benefits Council, 190:TaxCore (10/5/09); IRS official says release of final rules imminent with interest crediting guidance, 195:G–6 (10/13/09)
– Contribution limit for 2010, Treasury plans release this week to prevent reduction, 197:G–16 (10/15/09); dollar limits unchanged due to static inflation index, 198:G–1 (10/16/09); IRS news release, 198:TaxCore (10/16/09); catch-up contributions, report on 198:G-1 corrected, 199:G–10 (10/19/09)
– Deferred compensation plans

See DEFERRED COMPENSATION

– Defined contribution plans

– – Investment advice rules, preview of Ways-Means hearing, 188:G–8 (10/1/09); DOL and IRS officials provide status update on rules, witnesses discuss HR 2989 provisions, 189:G–5 (10/2/09)
– – Participants' fees, sponsors would benefit from guidance on reducing fees, GAO reports, 192:G–1 (10/7/09)

– Foreign investments, FBAR reporting by plans

See INFORMATION REPORTING

– Form 5500 Schedule C guidance coming soon, DOL official also discusses service provider disclosures, 194:G–7 (10/9/09); frequently-asked questions released, 204:G–2 (10/26/09)
– 401(k) plans

See 401(k) PLANS

– Funding relief

– – HELP Chrm. Harkin (D-Iowa) calls for “careful balance,” targeted, temporary relief, Senate panel hearing, 208:G–11 (10/30/09)
– – Miller (D-Cal) bill

See LEGISLATION, FEDERAL, HR 2989

– – Pomeroy (D-ND), Tiberi (R-Ohio) bill

See LEGISLATION, FEDERAL, HR 3936

– – Ways-Means to receive conflicting recommendations at hearing, 188:G–8 (10/1/09); Neal (D-Mass) says Comm. awaits administration proposal, witnesses discuss how much relief needed, 189:G–5 (10/2/09)

– Guidance imminent, IRS managers discuss varied regulations for plans, 204:G–3 (10/26/09)
– IRAs

See INDIVIDUAL RETIREMENT ACCOUNTS (IRAs)

– Minimum funding standards

– – Actuaries willing to trade ambiguity for complexity in final funding regulations, 200:G–6 (10/20/09)
– – IRS updates weighted average rates, yield curves, funding segment rates for plan years beginning in Nov., 192:G–1 (10/7/09)
– – Measuring assets and liabilities, IRS issues final rules under §430 for single-employer plans, 193:GG–1 (10/8/09); text of TD 9467, 193:Text Supp (10/8/09); IRS to issue more guidance to address additional issues, 196:G–4 (10/14/09); practitioners find much to like, dislike in final rules, 197:G–16 (10/15/09)
– – Relief legislation

See Funding relief, this heading

– Normal retirement age, IRS extends deadline for governmental plans to comply with §411(a)(8) rules, 207:G–4 (10/29/09); Notice 2009-86, 207:TaxCore (10/29/09)
– Small business plans

See SMALL BUSINESSES

PETROLEUM INDUSTRY

See OIL AND GAS

PHYSICIANS

– Medicare payments

See LEGISLATION, FEDERAL, S 1776

PORTUGAL

– Corporate exit tax, European Comm'n files legal challenge, 195:I–1 (10/13/09)
– Expatriates, European Comm'n challenges exit taxes, 208:I–6 (10/30/09)

POSSESSIONS, U.S.

See specific territories

PRACTITIONERS

See TAX PRACTICE

PRIVACY

See also IDENTITY THEFT
– Attorney-client privilege

See ATTORNEYS

– Bank secrecy

See OFFSHORE HAVENS
– – Swiss banks

See SWITZERLAND

– Exempt entity investigations, Treasury exempts certain records from Privacy Act rules, 193:G–3 (10/8/09); final rules, 193:TaxCore (10/8/09)
– FDIC employee charged with disclosing tax data of bank customer (D. Kan.), 195:K–8 (10/13/09)
– Health plan data, HIPAA changes, Mass. privacy law discussed by benefits attorneys at ALI-ABA panel, 194:G–10 (10/9/09)
– Taxpayer records, TIGTA says more steps needed to monitor unauthorized access by IRS employees, 201:G–4 (10/21/09)

PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD (PCAOB)

– Advisory group sets Oct. 14-15 meeting, 190:G–6 (10/5/09); group makes recommendations on fraud risk, fair value measurement, 199:G–4 (10/19/09)
– Audit quality standard

See ACCOUNTING

– Constitutionality of PCAOB's operations, investor group CII files brief supporting validity of SOx provisions (U.S.), 203:K–2 (10/23/09)

PUERTO RICO

– Possessions corporations, IRS to monitor §936 exit audits, 196:G–6 (10/14/09); LMSB directive, 196:TaxCore (10/14/09)