LexisNexis® Legal Newsroom
Carley A. Roberts and Timothy A. Gustafson
Roberts and Gustafson on Exploring California's Controversial 20% Corporate Understatement Penalty

Difficult economic times sometimes result in states finding new and more creative ways to generate additional revenue. The new California 20% corporate understatement penalty may be just such a case in point. In this Emerging Issues Analysis, Carley A...

LexisNexis Tax Center
Taxation of Hospitals and Health Care Organizations: Regulations Clarify Connection Between Excess Benefit Transactions and Tax-Exempt Status Revocation

Limited experience with the relationship of revocation of exemption and excess benefit transactions has created problems for the Service and practitioners alike. For example, in a series of technical advice memoranda released in 2004, the Service did...

Michael A. Schwartz and Leonard Schneidman
Voluntary Disclosure Program Encourages Compliance With Foreign Account Reporting

Last year, we examined the significantly increased efforts by federal prosecutors and IRS agents to investigate taxpayers for failing to file Foreign Bank Account Reports (FBARs) and foreign earned income. 1 The United States’ tax laws require that...

Richard Niles
Talk Is Cheap - It's About to Get Cheaper

In Notice 2009-46, the IRS sought comments on simplifying cell phone taxes. Current law taxes an individual's personal use of an employer-provided cell phone. Under IRC Section 132, employees must keep a record of each call and the time it is made...

Mark A. Muntean
The Perils of the Foreign Bank Account Reporting Rules

In recent years, a major concern of many practitioners involves the Foreign Bank Account Reporting (FBAR) rules. These rules, originally enacted as part of the Bank Secrecy Act and Patriot Act regulations, require individuals and entities with interests...

Jayne Zanglein
New Guidance on Executive Compensation Limits

On June 9, 2009, the Department of the Treasury issued an interim final rule on TARP Standards for Compensation and Corporate Governance. The rule provides guidance on the executive compensation and corporate governance provisions of the Emergency Economic...