Tax Law

Recent Posts

White Paper: REIT Foreign Currency Gains
Posted on 3 Jun 2008 by Gerald W. Paulukonis, J.D.

Introduction REITs are subject to a number of rules to ensure that their primary focus is commercial real estate activity. REITs must meet two gross income tests. First, at least 95 percent of a REIT’s annual gross income must be from specified... Read More

Federal Income Taxation of Life Insurance Companies: Pending Principle-Based Reserve Calculation Raises Federal Taxation Concerns
Posted on 20 Aug 2009 by LexisNexis Tax Center

The pending NAIC principle-based model would use principles to govern reserve valuation as a way to more accurately capture the underlying risk of the contract by using principles of risk management, asset adequacy analysis and stochastic modeling. The... Read More

Final Regulations Clarify FBAR Reporting Requirements
Posted on 27 Oct 2011 by LN Tax Law Staff

[ Editor's Note: This narrative is derived from Taxation of Financial Institutions § 26.04 (Matthew Bender).] Under the Bank Secrecy Act, financial institutions must report and maintain records for transactions in cash or currency that exceed... Read More

Business Valuation by Accountants: Key Support Service to Legal Community
Posted on 1 Jul 2009 by LexisNexis Tax Center

Business valuations are often required or advisable in divorce settlements, buy/sell agreements, estate and gift tax computations, and similar situations. These valuations may also be prepared as part of feasibility studies related to the acquisition... Read More

Applying GAAP and GAAS: Recent Developments in Fair Value Measurement, Reporting and Disclosure
Posted on 14 Aug 2009 by LexisNexis Tax Center

Recent FASB guidance sheds light on determining fair value in situations where market information is limited and transactions are not orderly. Another accounting concern involves the requirement to determine when a security has incurred an impairment... Read More

Reporting and Withholding Guidance: Payments to FFIs Under FATCA
Posted on 2 Apr 2012 by LexisNexis Tax Law Community Staff

Editor's Note : This narrative is derived from Tax Controversies: Audits, Investigations, Trials § 17.04 (Matthew Bender) by Robert S. Fink, J.D., LL.M., Kostelanetz & Fink, LLP, New York, N.Y. ... The Foreign Account Tax Compliance... Read More

LexisNexis Tax Advisor - Federal Code: IRC Sec. 882(c) Foreign Corporations Connected With U.S. Business
Posted on 4 Nov 2009 by LexisNexis Tax Center

In September 2009, the IRS and Treasury issued final regulations relating to the determination of a foreign corporation’s interest expense allocable under IRC Section 882(c) to effectively-connected income. In general, the final regulations modify... Read More

LexisNexis Tax Advisor - Federal Topical: First-Time Homebuyer's Credit Extension
Posted on 13 Nov 2009 by LexisNexis Tax Center

Recently signed legislation extends the first-time homebuyers tax credit and expands the scope and reach of the law to make home ownership even more accessible than it was previously. The U.S. Senate had passed a bill that the House or Representatives... Read More

LexisNexis Tax Advisor - Federal Topical: Credit for Qualified Use of Electric Vehicles
Posted on 24 Sep 2009 by LexisNexis Tax Center

The resurgent emphasis on environmental concerns, the need to reduce pollution hazards, and remedies to mitigate them is calling renewed attention to tax credits made available even before the American Recovery and Reinvestment Act of 2009 became law... Read More

LexisNexis Tax Advisor-Federal Code: AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009
Posted on 20 Feb 2009 by LexisNexis Tax Center

The American Recovery and Reinvestment Act of 2009 (a.k.a. the “ Stimulus Bill ”) was signed on Tuesday by President Obama. The bill covers multiple tax topics, including Tax Relief for Individuals and Families, Tax Incentives for Business... Read More

LexisNexis Tax Advisor-Federal Topical: Securities Transactions - Computing Capital Gains and Losses - Expert Analysis
Posted on 23 Oct 2008 by LexisNexis Tax Center

Click here to access our sample discussion of Computing Capital Gains and Losses in Securities Transactions (pdf) Exclusively from LexisNexis: Tax Advisor - Federal Topical, a comprehensive, 480-chapter tax encyclopedia with expert practitioner... Read More

Farm Income Tax Manual - 2009 Developments Impacting Return Preparation Considerations
Posted on 4 Dec 2009 by LexisNexis Tax Center

Farm interests are affected by 2009 tax developments with several dimensions. Treating Leasehold Improvements by Lessee as Rent. For example, taxpayers should examine new standards applicable to leasehold improvements by lessees. Although lessors or... Read More

Fraud Prevention Update
Posted on 28 Feb 2011 by LexisNexis Tax Center

[ Editor's Note: The following is an excerpt from Financial Management and Accounting for the Construction Industry (Matthew Bender) by David L. Sauerman, Managing Director; Architecture, Engineering and Construction Division; The PrivateBank; Chicago... Read More

Courts Split on Limitations Period for Substantial Omissions of Income by Partnerships
Posted on 30 Sep 2011 by LN Tax Law Staff

[Editor's Note: This narrative is derived from Tax Planning for Partners, Partnerships, and LLCs, § 15.01[17][b]] [Editor's Note 2: On September 27, 2011, the Supreme Court granted certiorari in Home Concrete & Supply LLC v. United... Read More

Expense Method Depreciation: Thomann v. Commissioner
Posted on 6 Dec 2011 by Neil E. Harl

Editor's Note: The following was excerpted from the LexisNexis Matthew Bender publication Farm Income Tax Manual, by Neil E. Harl, at 1-3 Farm Income Tax Manual § 3.20, available in print at the LexisNexis® Store . ... Non-corporate... Read More