For over 50 years, Bloomberg BNA’s renowned flagship daily news service, Daily Tax Report® has helped leading practitioners and policymakers stay on the cutting edge of taxation and...
The American Institute of Certified Public Accountants, in a letter released Dec. 30, submitted comments to the Internal Revenue Service on suggested clarifications to the instructions to Form 4952, Investment Interest Expense Deduction, as it relates to estates and trusts.
The letter, dated Nov. 30, suggested a change with respect to the interest expense passed through to trusts from partnerships conducting a trade or business of trading in securities for their own account.
The instructions provide for a different treatment for the investment interest for a security trading business for trusts and estates than is provided for individual taxpayers, and the AICPA said that the treatment should be identical.
The AICPA said that it recognized that the disparate treatment of the investment interest expense between that of individuals and estates and trusts has been in the form's instructions for a number of years. However, many estates and trusts are now passive investors, the AICPA said, as investment vehicles have evolved.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)