Daily Tax Report Index-Summary

S CORPORATIONS

– Back-to-back loans, guidance project discussed at AICPA conference, 207:G–1 (10/29/09)
– Cancellation of debt income, final rules issued on attribute reduction, 208:G–1 (10/30/09); text of TD 9469, 208:L–1 (10/30/09)
– Late elections, IRS guidance on requesting relief received well, official says, 202:G–4 (10/22/09)

SARBANES-OXLEY ACT

– Internal controls

See CORPORATE GOVERNANCE

– PCAOB

See PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD (PCAOB)

SAVINGS AND LOAN ASSOCIATIONS (S&Ls)

– Failed thrift, award reduced by tax benefits, Winstar-related case (Fed. Cir.), 202:K–2 (10/22/09); decision text, 202:TaxCore (10/22/09)

SCHOOLS

See EDUCATION

SECURITIES

– Accounting issues

See ACCOUNTING

– Broker basis reporting

See INFORMATION REPORTING

– Dividends, Citigroup Global Markets agrees to FINRA fine for tax avoiding equity hedge, 196:G–3 (10/14/09); IRS official notes scrutiny on “cross-in, cross-out” deals at conference, 197:G–3 (10/15/09)
– Ponzi schemes, state treatment of losses

See specific states

– Regulated investment funds

See MUTUAL FUNDS

SECURITIES AND EXCHANGE COMMISSION (SEC)

– Chief Accountant Kroeker focuses on IFRS road map, convergence, and independence issues, Interview, 200:J–1 (10/20/09)

SHIPS AND SHIPPING

– International tax on airlines, maritime transport proposed at UN climate change talks, 192:I–2 (10/7/09)
– Port security costs, French Senate bill would tax commercial traffic, 201:I–4 (10/21/09)

SMALL BUSINESSES

– Economic recovery, groups push for extenders, ARRA tax incentives to continue past 2009, House hearing, 188:G–4 (10/1/09); prepared statements, 188:TaxCore (10/1/09); senior House Dems, Obama support extension, expansion of NOL carryback, 202:G–8 (10/22/09)
– Health care benefits

See HEALTH CARE REFORM

– Retirement plans

– – Combined features under §414(x), IRS seeks comment on plans with auto-enrollment feature, strong vesting, 194:G–11 (10/9/09)
– – IRS creates web-based plan navigator to help business owners select plan, maintain compliance, 196:G–6 (10/14/09)

– Sarbanes-Oxley compliance

See CORPORATE GOVERNANCE

– Single-owner disregarded entities, IRS corrects rules on treatment as corporations for excise and employment tax purposes, 196:G–6 (10/14/09)
– Sole proprietor exams, accuracy-related penalty applied inconsistently, TIGTA says, 197:G–2 (10/15/09)
– Tax compliance

– – Economic downturn spurred change in SBSE operations, Comm'r Wagner says, 208:G–1 (10/30/09)
– – Losses reported by sole proprietors, GAO says IRS should improve estimates of noncompliance, 196:G–2 (10/14/09)

– Veteran-owned franchises

See LEGISLATION, FEDERAL, HR 2672

SOCIAL SECURITY

– Cost of living adjustment unlikely, SSA actuary tells congressional staff, admin. officials, 188:G–8 (10/1/09); SSA fact sheet, 198:TaxCore (10/16/09)
– Economic recovery payments of $250, administration proposal moving forward, 197:G–16 (10/15/09)

SOCIAL SECURITY ADMINISTRATION (SSA)

– Blahous will be nominated as trustee, 197:G–18 (10/15/09)

SOFTWARE

– Accounting for sales, FASB issues new guidance on revenue recognition, multiple deliverables, 194:G–3 (10/9/09)
– Fictitious licensing agreements, SEC sues software executive for claiming in revenue scam (M.D. Fla.), 188:K–2 (10/1/09)
– Tax software products, industry representatives back IRS push for oversight under preparer rules, 188:G–10 (10/1/09)

SOLAR ENERGY

See RENEWABLE ENERGY

SOUTH DAKOTA

– Gas tax hike proposed by legislative interim committee, 198:H–3 (10/16/09)
– Relief organizations' sales tax exemptions, governor calls for review, 189:H–2 (10/2/09)

SPAIN

– Cabinet votes to alter VAT, nonresident income tax, 191:I–2 (10/6/09)
– Corporate exit tax, European Comm'n files legal challenge, 195:I–1 (10/13/09)
– Goodwill, European Comm'n orders Spain to end corporate tax break for foreign investments, 207:I–2 (10/29/09)

STATE AND LOCAL GOVERNMENT

– Build America Bond program

See BONDS, TAXABLE

– Economic development incentives

See COMMUNITY DEVELOPMENT

– Unemployment

See UNEMPLOYMENT INSURANCE

STATE TAX DEVELOPMENTS

– Ed. Note: This heading covers issues affecting many states. For entries on specific state taxes, see specific state headings.
– Cigarettes

See TOBACCO INDUSTRY

– Communications services

See TELECOMMUNICATIONS

– Film production credits

See MOTION PICTURES

– Offshore havens, states take variety of approaches in wake of federal disclosure program, BNA Analysis & Perspective, 194:J–1 (10/9/09)
– Property taxes highest in N.Y. and N.J., census data show La. taxes lowest, 208:H–1 (10/30/09)
– Revenues plummet for second quarter of 2009, Rockefeller Inst. report, 198:H–2 (10/16/09)
– Sales taxes

– – Highest combined state, local tax rates, Tax Found. issues report, 199:H–1 (10/19/09)
– – Multistate simplification project

See ELECTRONIC COMMERCE

STATISTICS

– APAs completed

See ADVANCE PRICING AGREEMENTS (APAs)

– Property taxes highest in N.Y. and N.J., census data show La. taxes lowest, 208:H–1 (10/30/09)
– State revenue reports

See STATE TAX DEVELOPMENTS

STOCK OPTION BACKDATING

– Broadcom CFO's statements to attorneys can be used in trial (9th Cir.), 189:K–2 (10/2/09)

STOCK OPTIONS

– Cost sharing with affiliate, Xilinx appeal

See TRANSFER PRICING

SUPREME COURT, U.S.

– Accounting oversight, investor group's brief counters view that PCAOB stands on unconstitutional ground, 203:K–2 (10/23/09)
– Enron executive Skilling's fraud conviction (rev grant), 196:K–1 (10/14/09)
– Ohio's natural gas tax scheme, suppliers appeal 6th Cir. decision (rev sought), 190:K–1 (10/5/09)
– Satellite TV, federal law preempts local taxes on providers, Ky. ruling one of 2 appeals (U.S., rev sought), 199:K–3 (10/19/09)
– Tax docket includes RICO's application in cigarette tax case, patent law challenge, BNA Analysis & Perspective, 190:J–1 (10/5/09)
– Tax reviews denied, list, 191:K–2 (10/6/09); 196:K–1 (10/14/09); 201:K–1 (10/21/09)

SWEDEN

– Climate change, Sweden plans to abolish carbon dioxide tax on fuel for firms subject to EU emissions trading system, 193:I–1 (10/8/09)

SWITZERLAND

– Bank secrecy, many bank and fund managers predicts negative impact from easing secrecy, survey, 198:I–1 (10/16/09)
– UBS former banker Birkenfeld seeks whistleblower award from IRS, attorney says, 199:K–1 (10/19/09); government oversight groups seek review of Birkenfeld's sentence, oppose claim for whistleblower award, 203:K–4 (10/23/09); letter to Atty. Gen. Holder, 203:TaxCore (10/23/09)
– U.S. tax evasion

– – Accountant who plead guilty in June to hiding assets in UBS, government requests reduced sentence (S.D. Fla.), 204:K–2 (10/26/09); government motion, 204:TaxCore (10/26/09); accountant sentenced to probation, 208:K–2 (10/30/09)
– – Boeing former sales manager pleads guilty to hiding assets at UBS (W.D. Wash.), 191:K–1 (10/6/09); plea agreement, 191:TaxCore (10/6/09)
– – Cal. man with UBS account pleads guilty to tax charge for not filing FBAR (C.D. Cal.), 202:K–1 (10/22/09)