TaxNewsFlash

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December 2007

Issue	Date	Subject
2007-580	December 31, 2007	Technical Corrections Legislation Is Enacted
2007-579	December 31, 2007	Future Regulations under Section 367(a) Will Address Outbound Reorganizations That Effectively Repatriate Earnings of Foreign Corporations
2007-578	December 31, 2007	Protocols, Income Tax Treaty Enter into Force with the Exchange of Instruments of Ratification
2007-577	December 28, 2007	Proposed Changes to Regulations Relating to Employment Tax Adjustments and Employment Tax Refund Claims
2007-576	December 28, 2007	Proposed Regulations for Determining Plan Assets, Benefit Liabilities to Meet Funding Requirements of Single Employer Defined Benefit Plans
2007-575	December 28, 2007	Text of Regulations Relating to Nuclear Decommissioning Funds
2007-574	December 27, 2007	Preliminary Analysis of Regulations on the Reduction of Foreign Tax Credit Limitation Categories under Section 904(d)
2007-573	December 27, 2007	IRS Announces 2008 Inflation Adjustments to Excise Tax on Air Transportation
2007-572	December 27, 2007	Proposed Regulations on Hybrid Retirement Plans
2007-571	December 27, 2007	SEC Roundtables on Using IFRS in the United States
2007-570	December 26, 2007	Tax Court: “Qualified Dividends” Are Included in Calculation of AMT
2007-569	December 26, 2007	Legislative Update: “AMT Patch” Legislation Is Enacted
2007-568	December 26, 2007	AICPA Conference on SEC and PCAOB Developments
2007-567	December 26, 2007	Michigan: Guidance on Impact of the Michigan Business Tax (MBT) Surcharge on FAS 109 Deduction
2007-566	December 21, 2007	Legislative Update: Congressman Neal Introduces Bill Requiring Interest Accruals on Prepaid Derivative Contracts, Including Exchange Traded Notes
2007-565	December 21, 2007	Preliminary Analysis of Regulations on the Treatment of Overall Foreign and Domestic Losses
2007-564	December 21, 2007	IRS Identifies Alternative Funding Schedule for Commercial Passenger Airlines to Use in Lieu of General Funding Rules
2007-563	December 21, 2007	Regulations on Calculating, Apportioning Any Amount of Additional Tax and Reduction of Amount Exempt from AMT for Controlled Groups
2007-562	December 21, 2007	IRS Notice Provides Effective Date Relief for Application of Unified Rule for Loss on Subsidiary Stock
2007-561	December 21, 2007	Proposed Deferral of FASB Interpretation 48 for Nonpublic Entities
2007-560	December 20, 2007	Legislative Update: Congress Adjourns Without Extending the Research Credit
2007-559	December 20, 2007	Legislative Update: Congress Approves Tax Technical Corrections Bill; President Signs the Mortgage Relief Legislation
2007-558	December 20, 2007	IRS Addresses Losses from “Wash Sales” of Stock or Securities Involving Taxpayer’s IRA
2007-557	December 20, 2007	IRS Provides New Form Relating to Misclassified Employees
2007-556	December 20, 2007	Treasury Report on Ways to Improve Competitiveness of U.S. Business Tax System
2007-555	December 20, 2007	Text of Regulations on the Reduction of the Number of Foreign Tax Credits, and on the Treatment of Overall Foreign and Domestic Losses
2007-554	December 19, 2007	Legislative Update: Status of AMT Patch, Technical Corrections, Mortgage Relief, Extenders, Farm, and Energy Bills
2007-553	December 19, 2007	IRS Notice Provides Interim Guidance Concerning Return and Information Reporting Requirements under Section 6039 for Certain Transactions During 2007 Involving Statutory Options
2007-552	December 19, 2007	IRS Extends Transitional Guidance Relating to Diversification Rules for Qualified Defined Contribution Plans Holding Publicly Traded Employer Securities
2007-551	December 18, 2007	Legislative Update: House Approves Energy Bill, Mortgage Relief; Military Bill Includes Tax Technical Corrections and Mark-to-Market Provision for Expatriates
2007-550	December 18, 2007	IRS Issues Loss Payment Patterns, Discount Factors, and Salvage Discount Factors for Use by Property and Casualty Insurance Companies for the 2007 Accident Year
2007-549	December 18, 2007	IRS Notice Clarifies Who Can Be a “Qualifying Relative” for Purposes of Claiming a Dependency Exemption
2007-548	December 17, 2007	KPMG’s This Week in State Tax: Idaho (Allocable or Apportionable Income), Indiana (Tax Base), Michigan (Nexus), and New Jersey (Gross Receipts Tax)
2007-547	December 17, 2007	FASB’s Preliminary Views on Financial Instruments with Characteristics of Equity
2007-546	December 14, 2007	Legislative Update: Senate Passes Farm Bill, Amended Mortgage Relief; Tax Treaty with Belgium, Protocol with Germany Approved
2007-545	December 14, 2007	IRS “Fast Track Settlement” Program Expanded to Small Business/Self-Employed Taxpayers in Additional Areas
2007-544	December 13, 2007	Legislative Update: Senate Rejects Tax Title for Energy Bill
2007-543	December 13, 2007	Rules for 2% Shareholders-Employees to Deduct Accident, Health Insurance Premiums Paid or Reimbursed by S Corporation
2007-542	December 12, 2007	Legislative Update: House Readies AMT Bill; Finance Committee Proposes Energy Tax Provisions
2007-541	December 10, 2007	IRS Will Not Challenge Mexico’s IETU As a Creditable Income Tax Pending Further Study
2007-540	December 10, 2007	Michigan: Services Tax Is Repealed; Business Tax Surcharge Adopted
2007-539	December 10, 2007	KPMG’s This Week in State Tax: Alabama (Nexus), California (Treasury Function Receipts), Illinois (Retaliatory Tax), New York (Investment Tax Credit), South Carolina (Nexus), and Texas (Credit)
2007-538	December 7, 2007	IRS Requests Comments Concerning Income, Expense Accruals with Respect to Prepaid Forward Contracts
2007-537	December 7, 2007	Text of IRS Revenue Ruling on Treatment of Certain Foreign Currency Transactions
2007-536	December 7, 2007	IRS Finds Amounts Paid by Individuals for Certain Diagnostic Procedures and Devices Are Deductible Medical Care Expenses
2007-535	December 7, 2007	Legislative Update: Senate Approves Stand-Alone “AMT Patch” While Fate of Energy Bill Remains Uncertain
2007-534	December 7, 2007	Draft XBRL U.S. GAAP Taxonomies Released for Public Review and Comment
2007-533	December 6, 2007	Legislative Update: House Approves Energy Bill with New Energy Tax Measures
2007-532	December 6, 2007	Modified Subprime Mortgage Loans: IRS Will Not Challenge Tax Status of Securitization Vehicles
2007-531	December 5, 2007	IRS Updates List of Large Trucks, Buses, and Heavy Vehicles That Qualify for the Alternative Motor Vehicle Credit
2007-530	December 5, 2007	New FASB Statements on Accounting for Business Combinations and Noncontrolling Interests
2007-529	December 5, 2007	Legislative Update: Summary of Provisions in New Energy Tax Bill
2007-528	December 4, 2007	Legislative Update: Conference Agreement on Energy Bill Reported to Include Tax Provisions
2007-527	December 4, 2007	U.S. Supreme Court: Railroads Can Challenge a State’s Methods for Determining Value of Railroad Property, as Well as How Such Methods Are Applied
2007-526	December 3, 2007	IRS Provides Transition Relief, Methods to Correct Failures of Nonqualified Plans to Comply with Section 409A(a)
2007-525	December 3, 2007	FASB Task Force Approves Consensuses on Accounting for Collaborative Arrangements, on Accounting for Certain Sales of Real Estate
2007-524	December 3, 2007	KPMG’s This Week in State Tax: Indiana (Excise Tax), Michigan (Personal Property Tax Credit), New Hampshire (R&D Credit), and New York (Exemptions)

November 2007

Issue	Date	Subject
2007-523	November 29, 2007	FASB Proposal on Determining the Useful Lives of Intangible Assets
2007-522	November 29, 2007	IRS Provides 2007 Cumulative List of Changes in Plan Qualification Requirements
2007-521	November 28, 2007	Treasury Releases Report on Earnings Stripping, Transfer Pricing, and Treaties; IRS Announces New Form Relating to Section 163(j)
2007-520	November 28, 2007	Third Circuit: Taxpayer’s Environmental Clean-Up Expenses Incurred in 1993 for Pollution Created in Past Years Not Subject to “Claim of Right” Doctrine
2007-519	November 28, 2007	Proposed Regulations Would Require Information Reporting on Lump-Sum Payments for Sales, Exchanges of Standing Timber
2007-518	November 27, 2007	IRS Announces 2008 Standard Mileage Rates; Rate for Business Miles Set at 50.5 Cents per Mile
2007-517	November 26, 2007	Changes in Filing Procedures for Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding, Filed Electronically or Magnetically
2007-516	November 20, 2007	FEI Financial Reporting Issues Conference
2007-515	November 20, 2007	Legislative Update: Ways and Means Leaders Request Comments on Tax Technical Corrections Proposals
2007-514	November 20, 2007	Table Format: Changes to Effective Date Provisions Under Proposed Section 901 Regulations
2007-513	November 19, 2007	IRS Announces a Change to Effective Date of Certain Provisions Under Proposed Section 901 Regulations
2007-512	November 19, 2007	Phase Out of Alternative Motor Vehicle Credit for Sales of Honda Hybrids Begins in 2008
2007-511	November 19, 2007	KPMG’s This Week in State Tax: Delaware (Fair Apportionment), Indiana (Throwback), and Oregon (Proposed Rules)
2007-510	November 16, 2007	SEC Eliminates U.S. GAAP Reconciliation for Foreign Private Issuers Using IFRS
2007-509	November 16, 2007	Legislative Update: Description of Provisions Contained in Tax Technical Corrections Bill
2007-508	November 15, 2007	Legislative Update: Tax Technical Corrections Bill Introduced by Ways and Means Committee Leaders
2007-507	November 15, 2007	Partial Deferral of Effective Date of FASB Statement No. 157
2007-506	November 15, 2007	IRS Provides Sample Notice for Qualified Automatic Contribution Arrangements
2007-505	November 15, 2007	How the IFRS Movement Will Affect Financial Reporting in the United States
2007-504	November 15, 2007	Proposed Regulations Aim to Clarify Accounting Methods to Be Used Following Corporate Reorganizations and Tax-Free Liquidations
2007-503	November 13, 2007	Legislative Update: JCT Releases Report on Transfer Tax System in Advance of Finance Committee Hearing
2007-502	November 13, 2007	IRS Certification of 2008 Model Year Nissan Altima Hybrid for Alternative Motor Vehicle Credit
2007-501	November 13, 2007	IRS Guidance Defines “Liquid Hydrocarbons Derived from Biomass”
2007-500	November 12, 2007	Competent Authority Agreement on “First Notification” Under the Mutual Agreement Procedure of the United States-United Kingdom Income Tax Treaty
2007-499	November 12, 2007	Analysis: Proposed Regulatory Changes Could Adversely Affect Consolidated Captive Insurers
2007-498	November 12, 2007	KPMG’s This Week in State Tax: California (Nexus), Idaho (Alternative Apportionment), and Illinois (Technical Corrections)
2007-497	November 9, 2007	SEC Staff Guidance on Loan Commitments Recorded at Face Value Through Earnings
2007-496	November 9, 2007	Legislative Update: House Passes Extenders Bill; One-Year AMT Patch and Changes to Taxation of Carried Interests Are Included
2007-495	November 9, 2007	Rules on Information Reporting for Employer-Owned Life Insurance Contracts
2007-494	November 9, 2007	Final Regulations Concerning the Railroad Track Maintenance Credit
2007-493	November 9, 2007	Final Regulations on Electronic Filing of Corporate Income Tax Returns
2007-492	November 9, 2007	IRS Procedures for Small Business Refiners to Obtain Certification Relating to Credit for Production of Low Sulfur Diesel Fuel
2007-491	November 8, 2007	Future Purchasers of 2008 Toyota, Lexus Hybrids No Longer Can Qualify for Alternative Motor Vehicle Credit
2007-490	November 8, 2007	Legislative Update: House Approves Peru Trade Agreement; Includes Changes to Corporate Estimated Tax Payments
2007-489	November 8, 2007	Proposed REMIC Regulations Expand Permissible Loan Modifications to Include Changes to Commercial Mortgages
2007-488	November 7, 2007	FASB Defers Effective Date of FIN 48 for Nonpublic Entities
2007-487	November 7, 2007	Text of Proposed Regulations Relating to Qualified Automatic Contribution Arrangements
2007-486	November 6, 2007	IRS Guidance Allows Taxpayers to Request to Revise the Year of Change for a Filed Form 3115; and Modifies the Period for Taking into Account a Net Positive Adjustment if Such Request Is Approved
2007-485	November 6, 2007	Temporary Regulations Provide Guidance for Redeterminations of Foreign Tax That May Affect Foreign Tax Credits
2007-484	November 6, 2007	IRS, States Agree to Share Employment Tax Audit Results
2007-483	November 6, 2007	Eighth Circuit: Minnesota’s Sales and Use Tax on Transportation Fuel Found to Discriminate Against Railroads
2007-482	November 5, 2007	KPMG’s This Week in State Tax: Arizona (Commerce Clause), New York (Resale Exemptions), and Virginia (Sale-Leaseback Transactions)
2007-481	November 1, 2007	Legislative Update: Ways and Means Approves Extenders Bill; Offsets Include Private Equity Provisions
2007-480	November 1, 2007	Tax Court Concludes Bank’s Average Adjusted Basis of Tax-Exempt Obligations Does Not Include Those Purchased by Its Wholly Owned Investment Company
2007-479	November 1, 2007	Tax Court Holds Defense Attorney in Oklahoma City Bombing Case Not Entitled to Charitable Deduction for Donation of McVeigh’s Case File to University

October 2007

Issue	Date	Subject
2007-478	October 31, 2007	Senate Foreign Relations Committee Approves Tax Treaty, Protocols
2007-477	October 31, 2007	IRS Certification of 2008 Model Year Honda Compressed Natural Gas Vehicle for Alternative Motor Vehicle Credit
2007-476	October 31, 2007	Legislative Update: Ways and Means to Mark Up Expiring AMT, Business, and Individual Tax Provisions
2007-475	October 30, 2007	Legislative Update: House Clears Seven-Year Internet Tax Moratorium for White House Action
2007-474	October 29, 2007	IRS Announces Tax Relief for Taxpayers Affected by Southern California Wildfires
2007-473	October 29, 2007	Legislative Update: Overview of Current Legislative Proposals Concerning Private Equity and Hedge Fund Sectors
2007-472	October 29, 2007	IRS Changes Policy and Issues Interim Guidance on the Security Requirements Associated with Payments of Estate Tax When Estate Consists Largely of Interest in Closely Held Business
2007-471	October 29, 2007	KPMG’s This Week in State Tax: California (Receipts Factor), Iowa (Services Subject to Tax), Georgia (Expense Disallowance Rule), and Texas (Refund Claims)
2007-470	October 26, 2007	Legislative Update: Senate Approves Seven-Year Extension of Internet Tax Moratorium
2007-469	October 25, 2007	Legislative Update: Summary and Text of Ways and Means Chairman Rangel’s Tax Bill
2007-468	October 25, 2007	Buyers of GM, Ford Hybrids Still Qualify for Alternative Motor Vehicle Credit
2007-467	October 24, 2007	Final Regulations Continue Trend of Broadening the Scope of Permissible Transfers of Assets and Stock After Tax-Free Reorganizations
2007-466	October 23, 2007	IRS Extends Reporting, Withholding Relief for 2007 Concerning Amounts Includible in Gross Income Under Section 409A
2007-465	October 23, 2007	United States, Iceland Sign New Income Tax Treaty and Protocol
2007-464	October 23, 2007	Labor Department Issues Final Rule on Default Investment Alternatives for Participant-Directed Plans
2007-463	October 23, 2007	Legislative Update: Ways and Means to Consider Delaying Election for Worldwide Interest Allocation
2007-462	October 22, 2007	IRS Provides Additional Transition Relief Under Section 409A
2007-461	October 22, 2007	Discussion of Certain Provisions in Recently Signed Protocol to United States-Canada Income Tax Treaty
2007-460	October 22, 2007	California: Court Lifts Injunction Barring State from Collecting or Selling Unclaimed Property
2007-459	October 22, 2007	KPMG’s This Week in State Tax: Kentucky (Tax Base), Pennsylvania (Sales Tax Treatment), Virginia (Expense Disallowance), and Virginia (Filing Methodology)
2007-458	October 19, 2007	Research Credit Legislative Prospects in 2007 Remain Uncertain
2007-457	October 19, 2007	IRS Provides Safe Harbor for Allocation of Section 45 Wind Energy Production Tax Credits by Partnerships
2007-456	October 19, 2007	IRS Proposes to Change Procedures for Obtaining Consent of the Commissioner to Change a Method of Accounting
2007-455	October 19, 2007	Legislative Update: Bill Intended to Limit Ability of High-Income Taxpayers to Defer Unlimited Amounts of Offshore Compensation
2007-454	October 18, 2007	FASB Retains Effective Date of Statement 157; Will Delay Effective Date of SOP 07-1
2007-453	October 18, 2007	IRS Releases Pension Plan Limitation Amounts for 2008
2007-452	October 18, 2007	IRS Releases Inflation Adjustments for the 2008 Tax Year
2007-451	October 17, 2007	Maximum Earnings Subject to Social Security Tax for 2008 to Increase to $102,000
2007-450	October 17, 2007	IRS Identifies Certain Trust Arrangements Sold as Welfare Benefit Funds as “Listed Transactions”
2007-449	October 16, 2007	Legislative Update: House Approves Four-Year Extension of Internet Tax Moratorium
2007-448	October 16, 2007	“Events Basis” Rule Would Apply for Determining Source of Compensation Paid to Artists and Athletes
2007-447	October 16, 2007	Proposed Regulations Would Impose New Rules on Withholding Agents for Certain Stock Redemptions
2007-446	October 15, 2007	KPMG’s This Week in State Tax: California (Export Sales), Illinois (Qui Tam Cases), Massachusetts (Personal Liability), New York (Nexus), and Virginia (Nexus)
2007-445	October 12, 2007	IRS Certification of 2008 Model Year Honda Hybrid Vehicle for Alternative Motor Vehicle Credit
2007-444	October 10, 2007	Legislative Update: House Approves Bill Barring Tax Collection Contracting; Would Revise Rules on Expatriation of Individuals
2007-443	October 9, 2007	Treasury, IRS Guidance for Pension Plans to Calculate Funding Obligations, Lump-Sum Payments to Retirees
2007-442	October 9, 2007	IRS Provides Additional Method for Taxpayers to Request Relief for Late S Corporation Elections
2007-441	October 8, 2007	KPMG’s This Week in State Tax: California (Exempt Organizations); Illinois (ITC); Massachusetts (ITC); and Tennessee (Taxable Services)
2007-440	October 5, 2007	Legislative Update: Senate Finance Committee Approves Farm Bill Including Codification of Economic Substance Doctrine
2007-439	October 5, 2007	Michigan: Recently Enacted Tax Legislation Has Implications for Business and Individual Taxpayers
2007-438	October 4, 2007	Legislative Update: House Approves Mortgage Relief Bill
2007-437	October 4, 2007	Accounting Implications of “Illiquid Markets”
2007-436	October 2, 2007	Legislative Update: JCT Descriptions of Peru Trade Agreement, Taxation of Farm Bill for Finance Markup; Revenue Raisers Are Included
2007-435	October 1, 2007	Considerations for U.S. Companies with Business Operations in Mexico in Light of Today’s Enactment of New Tax Regime
2007-434	October 1, 2007	KPMG’s This Week in State Tax: Developments from Maryland, Michigan, New York, and Washington

September 2007

Issue	Date	Subject
2007-433	September 28, 2007	Legislative Update: FAA, SCHIP Headed to White House
2007-432	September 28, 2007	IRS Publishes List of Drought-Affected Counties for Purposes of Determining the Replacement Period for Certain Livestock
2007-431	September 28, 2007	SEC Announces Completion of XBRL Labels (Tags) for Financial-Statement Elements
2007-430	September 27, 2007	IRS Updates Rules for Determining Substantiation of Employee Lodging, Meals, and Incidental Expenses
2007-429	September 27, 2007	IRS Modifies the Procedures for Changes in Annual Accounting Periods for Corporations Leaving a Consolidated Group
2007-428	September 27, 2007	Proposed Regulations Update the S Corporation Rules
2007-427	September 27, 2007	Proposed Consolidated Group Regulations Intended to Simplify, Clarify the Treatment of Intercompany Obligations, Insurance
2007-426	September 26, 2007	Legislative Update: House Passes Resolution That Includes Extension of Airline Ticket Taxes
2007-425	September 26, 2007	Discussion of U.S. Supreme Court’s Grant of Certiorari in Case Addressing Whether Income Is Allocable or Apportionable for State Tax Purposes
2007-424	September 26, 2007	Final Regulations on Passive Foreign Investment Company (PFIC) Purging Elections
2007-423	September 25, 2007	Legislative Update: Ways and Means to Consider Mortgage Relief
2007-422	September 25, 2007	U.S. Supreme Court Grants Certiorari in Two Tax Cases, Including Business/Nonbusiness Case
2007-421	September 25, 2007	IRS Suspends Recent Guidance Concerning Calculations of Life Insurance Reserves of Certain Variable Contracts
2007-420	September 25, 2007	Final Regulations Governing Practice Before the IRS
2007-419	September 25, 2007	Court of Federal Claims: Another Case Decided for the Taxpayer Under the “Fresh Start Basis Rule” Concerning the Treatment of Losses on Termination, Cancellation of Healthcare Coverage Contracts
2007-418	September 24, 2007	Legislative Update: House Expected to Take First Step to Extend FAA Taxes
2007-417	September 24, 2007	Legislative Update: JCT Report Addresses Offshore Reinsurance, Foreign Insurers, and Offshore Investment Entities
2007-416	September 24, 2007	Text of Proposed Regulations on Arbitrage Restrictions Relating to Tax-Exempt Bonds Issued by State and Local Governments
2007-415	September 24, 2007	KPMG’s This Week in State Tax: Developments from Louisiana, Maryland, New Mexico, and Tennessee
2007-414	September 21, 2007	Legislative Update: Senate Finance Approves Aviation Tax Bill, Conservation Measures
2007-413	September 21, 2007	Summary of Changes in New Protocol to United States-Canada Income Tax Treaty
2007-412	September 20, 2007	Tax Governance Institute: The Role of the Audit Committee in the Management of Enterprise Tax Risk
2007-411	September 20, 2007	Legislative Update: House of Representatives Approves Aviation Tax Bill; Senate Finance Committee to Consider Aviation, Conservation Measures
2007-410	September 19, 2007	United States, Canada to Sign Protocol on Friday, September 21
2007-409	September 19, 2007	IRS Announces Temporary Closing of Determination Letter Program for Pre-Approved Defined Contribution Plans
2007-408	September 18, 2007	Legislative Update: Ways and Means Approves Extension of Aviation Fuel Taxes, Increase in Corporate Estimated Tax Safe Harbor
2007-407	September 18, 2007	Federal Circuit Affirms IRS Levies, Deposits of Funds in Escrow Do Not Stop Accrual of Interest
2007-406	September 17, 2007	KPMG’s This Week in State Tax: Developments from Massachusetts, Oregon, and Tennessee
2007-405	September 12, 2007	FASB Emerging Issues Task Force’s Tentative Conclusions on Accounting for Collaborate Arrangements, Sales of Real Estate That Include Buy-Sell Provisions
2007-404	September 11, 2007	IRS Provides Safe Harbor for Insurance Companies in Applying the Proration Rules
2007-403	September 11, 2007	IRS Clarifies Form 1120, Schedule O Is Not Required for Tax Year 2006
2007-402	September 10, 2007	IRS Extends Documentation Deadline for Section 409A Compliance
2007-401	September 10, 2007	IRS Identifies High-Cost Foreign Localities for Purposes of Adjusted Housing Expense Limitations
2007-400	September 10, 2007	Final Regulations Address Tax Treatment of Nuclear Decommissioning Funds in Allocating Purchase Price in Deemed and Actual Asset Acquisitions
2007-399	September 10, 2007	KPMG’s This Week in State Tax: Developments from Alabama, Massachusetts, Missouri, New Jersey, and Ohio
2007-398	September 7, 2007	Legislative Update: Proposal to Relax Unrelated Debt-Financed Income Rules for Tax-Exempt Organizations
2007-397	September 7, 2007	Legislative Update: Ways and Means Committee Members to Introduce Bills Concerning UBIT Blockers, Deferral of Fund Manager Income in Offshore Companies
2007-396	September 6, 2007	IRS Certification of 2008 Model Year GM Hybrid Vehicles for Alternative Motor Vehicle Credit
2007-395	September 6, 2007	Multistate Legislative Developments: Maine, Missouri, New Hampshire, North Carolina and Rhode Island
2007-394	September 6, 2007	Legislative Update: Finance Panel Told Carried Interest Tax Would Have Minimal Effect on Fund Returns, Trends
2007-393	September 6, 2007	IRS Allows Certain Qualified Partnerships to Aggregate Gains, Losses for Purposes of Making Reverse Section 704(c) Allocations
2007-392	September 5, 2007	Tax Court: IRS Memoranda Protected from Discovery as Work Product
2007-391	September 5, 2007	IRS Addresses Effect of Minimum Wage Increase on Employer’s Credit for Social Security Tax on Employees’ Cash Tip Income
2007-390	September 4, 2007	Legislative Update: JCT Releases Descriptions of Taxation of Carried Interests
2007-389	September 4, 2007	SEC Seeks Input on Allowing U.S. Domestic Companies to Use IFRS

August 2007

Issue	Date	Subject
2007-388	August 31, 2007	IRS Guidance on Withholding, Information Reporting on Amounts Paid to Poker Tournament Winners
2007-387	August 31, 2007	Text of U.S.-Netherlands Competent Authority Agreement
2007-386	August 30, 2007	IRS Guidance for Certain Foreign Insurance Companies to Compute Minimum Effectively Connected Net Investment Income
2007-385	August 30, 2007	IRS Announces Voluntary Closing Agreement Program for Forward-Float Agreements Used in Municipal Bond Financing
2007-384	August 29, 2007	Federal District Court Finds Tax Accrual Workpapers Are Privileged, Protected Under the Work Product Doctrine
2007-383	August 29, 2007	IRS Reports GM and Honda Hybrids Continue to Qualify for Alternative Motor Vehicle Credit
2007-382	August 29, 2007	Legislative Update: Permanent Subcommittee on Investigations Seeks Information Relating to Corporate Tax Benefits
2007-381	August 28, 2007	Court of Federal Claims: “Fresh Start Basis Rule” Applies in Determining Former Blue Shield’s Losses Upon Termination, Cancellation of Health Care Contracts
2007-380	August 28, 2007	Text of Proposed Regulations Concerning Benefit Restrictions for Underfunded Defined Benefit Pension Plans
2007-379	August 27, 2007	KPMG’s This Week in State Tax: Developments from California, Massachusetts, New Jersey, New York, and Virginia
2007-378	August 24, 2007	D.C. Circuit: Foreign Tax Credit Must Be Reduced by Amount of Indirect Subsidy Received by U.S. Taxpayer from Brazilian Government
2007-377	August 24, 2007	Regulations, IRS Guidance with Changes to the Tentative Carryback Adjustment Rules
2007-376	August 24, 2007	Illinois: Overview of Recently Enacted Changes to State Tax Law
2007-375	August 23, 2007	Legislative Update: Discussion of Pending Proposal That Would Override Tax Treaties
2007-374	August 23, 2007	IRS Reminds Mid-Size Corporations of e-Filing Obligations
2007-373	August 23, 2007	Final Regulations Eliminate Country-by-Country Reporting to Shareholders of Foreign Taxes Paid by RICs
2007-372	August 21, 2007	IRS Adds to List of “Qualified Pension or Retirement Plan” Arrangements for Diversification Requirements of Variable Contract Rules
2007-371	August 21, 2007	Proposed Regulations Concerning Assets-Over Partnership Mergers
2007-370	August 21, 2007	IRS Reminds Taxpayers of Availability of Refund of Excise Tax on Long-Distance and Bundled Telephone Service
2007-369	August 21, 2007	Insurance: New Filing Requirements for Certain Insurance Companies—Including Captive Insurance Companies
2007-368	August 20, 2007	Court of Federal Claims: Taxpayer Not Entitled to Refund of Federal Communications Excise Tax Paid on Communications Services Used to Provide Internet Access to Customers
2007-367	August 20, 2007	KPMG’s This Week in State Tax: Developments from California, New York, and Virginia
2007-366	August 17, 2007	Proposed Regulations on Tax Treatment of Medical and Accident Insurance Benefits Under Qualified Plans
2007-365	August 16, 2007	IRS Revenue Ruling Addresses Calculations of Life Insurance Reserves with Respect to Certain Variable Contracts
2007-364	August 15, 2007	Final Regulations on Treating Disregarded Entities as Separate Entities for Employment, Excise Tax Purposes
2007-363	August 14, 2007	IRS Guidance on Certain Grantor Trusts and Transactions Involving Contributions of Successor Member Interest in LLCs
2007-362	August 13, 2007	Treasury, IRS Release 2007-2008 Priority Guidance Plan
2007-361	August 13, 2007	Final Regulations for Partnerships Owning Qualified Small Business Stock
2007-360	August 13, 2007	KPMG’s This Week in State Tax: Developments from Alabama, Missouri, New Jersey, New York, and the Virgin Islands
2007-359	August 13, 2007	IRS Carves Out Certain Foreign Currency Option Transactions from Section 1256
2007-358	August 13, 2007	IRS Notice Provides Temporary Relief to Plan Amendments on Definition of Normal Retirement Age
2007-357	August 7, 2007	SEC Advisory Committee to Study Ways to Reduce Complexity in Financial Reporting System
2007-356	August 7, 2007	Legislative Update: Congress Approves Energy, Other Tax Measures in Lead-up to August Recess
2007-355	August 7, 2007	Michigan: Accounting for Income Tax Implications of Recently Enacted Business Tax Act
2007-354	August 6, 2007	IRS Issues Updates on Alternative Motor Vehicle Credits for Toyota, Lexus and Ford Hybrid Vehicles
2007-353	August 6, 2007	IRS Reminds Taxpayers of August 31st Deadline for Issues to Be Considered in Industry Issue Resolution Program During Fall 2007
2007-352	August 6, 2007	Transition Relief Under Section 355 Concerning the Active Trade or Business Requirement for Certain Transactions
2007-351	August 6, 2007	Final Regulations on Corporate Estimated Tax
2007-350	August 6, 2007	KPMG’s This Week in State Tax: Developments from Arizona, California, Connecticut, and North Carolina
2007-349	August 3, 2007	Text of New Proposed Regulations on Cafeteria Plans
2007-348	August 3, 2007	FASB Requests Views on a Project to Develop an Insurance-Accounting Model
2007-347	August 2, 2007	IRS Releases Draft Revisions of Form 1120 and Form 1065 and Related Schedules
2007-346	August 2, 2007	Ninth Circuit Addresses Deduction of California Franchise Tax on Taxpayer’s Federal Income Tax Returns
2007-345	August 2, 2007	IRS Report on Reducing the Federal Tax Gap
2007-344	August 1, 2007	Massachusetts: Corporate Excise Tax Liability of Out-of-State Company Licensing Intangible Property to In-State Affiliates
2007-343	August 1, 2007	New York: Tax Appeals Tribunal Affirms Certain Taxpayers Not Required to File Combined Returns with Out-of-State Affiliates
2007-342	August 1, 2007	Final and Proposed Regulations Concerning Severance of a Trust for Generation-Skipping Transfer Tax Purposes

July 2007

Issue	Date	Subject
2007-341	July 31, 2007	Legislative Update: Finance Committee Witnesses Divided on Taxation of Carried Interest, Partnership Legislation
2007-340	July 31, 2007	IRS Grants Hurricane Victims Three Years in Which to Sell Homesites and Take Advantage of the Exclusion of Gain on the Sale of a Principal Residence
2007-339	July 31, 2007	Text of Final Reportable Transaction Regulations—Taxpayer Disclosure and Material Advisor Disclosure and List Maintenance Requirements
2007-338	July 30, 2007	IRS Updates FAQs Concerning e-Filing of Corporate Tax Returns
2007-337	July 30, 2007	Proposed Regulations Concerning Diversification Requirements for Variable Annuity, Endowment, and Life Insurance Contracts
2007-336	July 30, 2007	KPMG’s This Week in State Tax: Developments from Massachusetts, New York, Pennsylvania, and Texas
2007-335	July 30, 2007	Proposed Guidance on Applying the “Shortcut Method” of Hedge Accounting
2007-334	July 27, 2007	Legislative Update: House Approves Farm Bill with Stripping Provision
2007-333	July 27, 2007	Proposed Regulations Would Treat Abandonment of Stock or Securities as a Sale or Exchange Resulting in Capital Loss Rather Than Ordinary Loss
2007-332	July 27, 2007	Final Regulations Under Section 1248 Concerning Determinations of Earnings and Profits of CFCs After Certain Nonrecognition Transactions
2007-331	July 26, 2007	SEC Approves Information-Gathering Release on U.S. Registrants’ Use of IFRS in Filings
2007-330	July 26, 2007	Proposed Regulations Would Subject Investment Advisory Fees Paid by Trusts and Estates to 2% Floor for Miscellaneous Itemized Deductions and Require Unbundling of Trustee Fees
2007-329	July 26, 2007	Final Regulations Concerning Collection of Excise Tax on Taxable Fuel Entering the United States
2007-328	July 25, 2007	Legislative Update: Bill Introduced to Modify U.S. Withholding Tax Rates
2007-327	July 25, 2007	FASB to Propose Separate Accounting for the Conversion Options of Many Convertible Bonds
2007-326	July 25, 2007	IRS Reports Hydrogen-Powered Honda Vehicle Qualifies for Alternative Motor Vehicle Credit
2007-325	July 24, 2007	D.C. Circuit Affirms IRS Chief Counsel e-Mails Containing Legal Advice Must Be Disclosed
2007-324	July 24, 2007	IRS Addresses OID Implications on Integration of Convertible Notes with Hedges and Warrants
2007-323	July 23, 2007	Treasury Report on Business Taxation and Global Competitiveness
2007-322	July 23, 2007	KPMG’s This Week in State Tax: Developments from Alabama, Iowa, Virginia and a Multistate Streamlined Sales Tax Update
2007-321	July 20, 2007	Third Circuit Affirms Advance Payment Was Income, Not a Loan
2007-320	July 20, 2007	Proposed Revenue Procedure for Qualified Payment Card Agents
2007-319	July 20, 2007	Final Regulations Provide Authority to IRS to Designate Domestic Member of Consolidated Group as Substitute Agent for Group When There Is a Foreign Common Parent
2007-318	July 19, 2007	IRS Taxpayer Advocate’s Annual Report to Congress
2007-317	July 19, 2007	Final Regulations for Including Insurance Companies in a Life-Nonlife Consolidated Return
2007-316	July 18, 2007	Legislative Update: Ways and Means Approves Bill Barring Private Collection of Tax
2007-315	July 17, 2007	KPMG’s Side-by-Side Comparison of Tax Provisions in House, Senate Energy Bills
2007-314	July 17, 2007	Legislative Update: Ways and Means to Consider Bill Barring Private Collection of Tax
2007-313	July 17, 2007	SEC Proposals on Reporting by Smaller Public Companies
2007-312	July 17, 2007	Final Regulations Concerning Excess Loss Accounts (Negative Basis) in Stock of Members of Consolidated Group, and When Stock of Group Member Is Treated as Worthless
2007-311	July 16, 2007	Tax Court Denies $2 Million in Deductions in Light of Taxpayer’s Incomplete Records
2007-310	July 16, 2007	JCT Explanations of Tax Treaty, Protocols Pending Tomorrow’s Senate Foreign Relations Committee Hearing
2007-309	July 16, 2007	KPMG’s This Week in State Tax: Developments from California, Indiana, Kentucky, and New Hampshire
2007-308	July 13, 2007	Legislative Update: Ways and Means Statement Concerning Taxation of Private Equity Firms
2007-307	July 13, 2007	Michigan: Single Business Tax Replacement Regime Is Enacted
2007-306	July 12, 2007	Text of Proposed Regulations on Information Reporting and Backup Withholding for Payment Card Transactions
2007-305	July 12, 2007	Text of Final Regulations on Procedures Relating to Forms W-4
2007-304	July 12, 2007	Text of Final Regulations on Information Returns with Respect to Certain Foreign Corporations and Certain Foreign-Owned Domestic Corporations
2007-303	July 12, 2007	Final Regulations Concerning Active Income Exception for Insurance CFCs with Interest in a Partnership
2007-302	July 12, 2007	IRS Announces Plans for Electronic Filing of Excise Tax Returns
2007-301	July 12, 2007	New Heightened Standards for Tax Return Preparers
2007-300	July 11, 2007	Legislative Update: Senate Finance Committee Holds Hearing on Tax Treatment of Private Equity
2007-299	July 11, 2007	Legislative Update: JCT Description of Excise Taxes Under the Airport and Airways Trust Fund
2007-298	July 10, 2007	Legislative Update: JCT Description and Analysis of Tax Treatment of Partnership Carried Interest for Finance Committee Hearing
2007-297	July 9, 2007	Senate Foreign Relations Committee Announces Hearing on Tax Treaties
2007-296	July 9, 2007	IRS Chief Counsel Seeking Comment on Gift Tax Consequences of Trusts Employing Distribution Committee
2007-295	July 9, 2007	KPMG’s This Week in State Tax: Developments from California, Michigan, and New York
2007-294	July 6, 2007	IRS Addresses Section 83 Implications When Restrictions Cause Stock to Become Substantially Nonvested
2007-293	July 6, 2007	IRS Announces Mazda Vehicles Are Certified as Qualified Hybrid Vehicles
2007-292	July 5, 2007	Court of Federal Claims: More Evidence Needed to Address Deduction vs. Capitalization of Environmental Remediation Costs
2007-291	July 3, 2007	D.C. Circuit, on Rehearing, Holds Awards for Non-Physical Personal Injury Are Not Exempt from Income Tax
2007-290	July 3, 2007	VCP Streamlined Procedures for Failure to Adopt Timely Certain Amendments, Late Submissions for Opinion or Advisory Letters
2007-289	July 2, 2007	IRS Revenue Ruling Addresses Whether an Arrangement Has Requisite Insurance Risk
2007-288	July 2, 2007	Text of IRS Guidance Explaining Tax Consequences of Employer Contributions to Non-Exempt Employees’ Trust
2007-287	July 2, 2007	IRS to Follow Westpac Pacific Food with Respect to Taxpayers That Adopt Advance Trade Discount Method

June 2007

Issue	Date	Subject
2007-286	June 29, 2007	SEC Guidance on Internal Control Over Financial Reporting
2007-285	June 29, 2007	IRS Announces Elimination of Schedule P of Form 5500 Series
2007-284	June 28, 2007	IRS Addresses Depreciation of Rotable Spare Parts, Offers Safe Harbor Method of Accounting
2007-283	June 27, 2007	Texas: Margin Tax Technical Corrections Legislation Is Enacted
2007-282	June 27, 2007	IRS Requests Comments on Revised Draft Form 1118, Foreign Tax Credits—Corporations
2007-281	June 27, 2007	Resource: List, Text of Current U.S. Tax Treaties
2007-280	June 26, 2007	Massachusetts Appellate Tax Board Issues Ruling That Addresses Economic Nexus
2007-279	June 26, 2007	Comments Requested Concerning Financial Services Income Under Section 904(d)
2007-278	June 26, 2007	Employee Severance Due to Closure of Business Location Results in Partial Termination of Defined Contribution Plan
2007-277	June 25, 2007	Legislative Update: Congress Moves Forward on Energy Policy
2007-276	June 25, 2007	Legislative Update: Ways and Means Committee to Hold Hearings on Bill to End Carried Interest Tax Advantage
2007-275	June 25, 2007	Legislative Update: JCT Releases Report on Individual AMT
2007-274	June 25, 2007	KPMG’s This Week in State Tax: Developments from Idaho, Indiana, Pennsylvania, Rhode Island, and Texas
2007-273	June 22, 2007	Legislative Update: House Leaders Introduce “Carried Interest” Bill
2007-272	June 22, 2007	Text of Temporary, Proposed Regulations Concerning Foreign Base Company Shipping Rules, and Subpart F Treatment of Aircraft and Vessel Leasing Income
2007-271	June 22, 2007	IRS Provides Sample Forms for Use by Charitable Lead Annuity Trusts
2007-270	June 22, 2007	SEC Proposes to Eliminate U.S. GAAP Reconciliations by IFRS Filers
2007-269	June 21, 2007	Legislative Update: Senate Blocks Energy Tax Title
2007-268	June 21, 2007	IRS Guidance Concerning “Active Conduct of a Trade or Business” Test Under Section 355
2007-267	June 20, 2007	AICPA Statement of Position: “Investment Company” Redefined
2007-266	June 20, 2007	Legislative Update: Ways and Means Committee Marks Up Energy Tax Legislation
2007-265	June 20, 2007	Federal Circuit Affirms Refund Claim Not Timely Filed Because the Loss Carryover Was Not Attributable to a Loss Carryback
2007-264	June 20, 2007	Legislative Update: Text, Summary of Tax Title to Energy Bill, as Approved by Senate Finance Committee
2007-263	June 20, 2007	Regulations Provide Guidance to Individuals Who Have Participated in Listed Transactions
2007-262	June 20, 2007	IRS Identifies Loss Importation Transactions as Listed Transactions
2007-261	June 20, 2007	Redesigned Agent Appointment Form Now Available for Use by Employers, Payers, and Their Agents
2007-260	June 19, 2007	Legislative Update: Senate Finance Approves Tax Title for Pending Energy Bill
2007-259	June 18, 2007	Updated Address for Mailing Applications to the IRS for Allocations of Clean Renewable Energy Bonds
2007-258	June 18, 2007	Text of Proposed Regulations Addressing Certain Items Under the Low-Income Housing Tax Credit
2007-257	June 18, 2007	U.S. Supreme Court Denies Certiorari in Economic Nexus Cases
2007-256	June 18, 2007	KPMG’s This Week in State Tax: Developments from California, Indiana, New York, and Texas
2007-255	June 15, 2007	United States Terminates Estate and Gift Tax Treaty with Sweden
2007-254	June 15, 2007	FASB Task Force Approves Consensuses: Tax Benefits from Paying Dividends on Employees’ Share-Based Payment Awards, and Nonrefundable Advance Payments Made for R&D Activities
2007-253	June 15, 2007	Final Regulations Allow Governmental Unit to Qualify as Non-Bank Trustee for Deemed IRA That Is Part of Qualified Plan
2007-252	June 14, 2007	Legislative Update: JCT Description of Tax Title to Senate Energy Bill
2007-251	June 14, 2007	Legislative Update: Senate Finance Leaders Introduce Bill Addressing Taxation of Publicly Traded Partnerships
2007-250	June 14, 2007	Proposed Regulations Flesh Out Earlier IRS Disallowance Rules for Entertainment Use of an Aircraft
2007-249	June 14, 2007	Tax Court: Basis Overstatement Is Not Omission of Gross Income; Six-Year Statute of Limitations Does Not Apply
2007-248	June 14, 2007	U.S. Supreme Court Holds Real Property of Foreign Governments Can Be Subject to Local Property Taxes
2007-247	June 13, 2007	IRS Clarifies Tax Treatment of Certain REIT Distributions to Foreign Government Shareholders
2007-246	June 13, 2007	IRS Updates Procedures for Rulings and Determination Letters for Certain Qualified Plans
2007-245	June 13, 2007	Filing Deadline for Report of Foreign Bank and Financial Accounts Is July 2, 2007
2007-244	June 13, 2007	Final Regulations Reduce e-Filing Burden for Corporations and Shareholders
2007-243	June 13, 2007	Regulations Provide Prepaid Income Is Not Recognized Built-in Gain for Purposes of Section 382(h)
2007-242	June 12, 2007	Legislative Update: Senate Finance Committee Leaders Introduce Tax Relief Bill for American Troops
2007-241	June 12, 2007	Discussion of Safe Harbor Valuation Guidance for Dealers in Securities and Commodities
2007-240	June 11, 2007	IRS Provides Transitional Penalty Relief to Tax Return Preparers
2007-239	June 11, 2007	Text of Final Safe Harbor Valuation Regulations, Related IRS Guidance for Dealers in Securities and Commodities
2007-238	June 11, 2007	KPMG’s This Week in State Tax: Developments from the Georgia, Kentucky, New York, and North Carolina
2007-237	June 7, 2007	Updated Procedures for Allocation of Credits for Qualifying Advanced Coal Project and Qualifying Gasification Project Programs
2007-236	June 6, 2007	Proposed Regulations Under Section 199 Provide Guidance for Certain Taxpayers Who Produce Films or Who Are Members of an Expanded Affiliated Group
2007-235	June 6, 2007	IRS to Launch New Taxpayer Compliance Study, Focusing on Individual Taxpayers; Update on S Corporation Compliance Study Project
2007-234	June 6, 2007	Proposed Regulations Address What Portion of Trust Is Includible in Estate if Grantors Retained Right to Use Trust Property or Received Income from the Trust During Lifetime
2007-233	June 5, 2007	Legislative Update: Senate Panel Holds Hearing on Tax Treatment of Stock Option Compensation
2007-232	June 5, 2007	IRS Amends Definition of “Covered Employee” for Purposes of Executive Compensation Under Section 162(m)
2007-231	June 4, 2007	IRS Guidance Concerning Deductions by Individual Taxpayers for Qualified Conservation Contributions
2007-230	June 4, 2007	KPMG’s This Week in State Tax: Developments from the District of Columbia, New York, and Multistate Legislative Updates
2007-229	June 1, 2007	Transfer of Partnership Property to Partner to Satisfy Guaranteed Payment Is Sale or Exchange, Not a Section 731 Distribution

May 2007

Issue	Date	Subject
2007-228	May 31, 2007	Anticipated Regulations to Address Treatment of Certain Triangular Reorganizations Involving Foreign Corporations
2007-227	May 31, 2007	IRS Addresses the Treatment of Exchanges of Multiple Modified Endowment Contracts
2007-226	May 31, 2007	IRS Guidance for Employers Concerned About Mid-Year Changes to Section 401(k) Safe Harbor Plans
2007-225	May 31, 2007	Sixth Circuit: Credits and Tax Relief Provided by Kentucky to Cable Companies Are Not Unconstitutional; Dismissal of Satellite Companies’ Claims Upheld
2007-224	May 31, 2007	New PCAOB Auditing Standard on Internal Control Over Financial Reporting
2007-223	May 31, 2007	Text of IRS Guidance for Defined Benefit Plan Sponsors to Use Substitute Mortality Tables
2007-222	May 31, 2007	Proposed Regulations on Employer Obligations Concerning Health Savings Accounts of Employees
2007-221	May 29, 2007	Legislative Update: President Bush Signs Iraq Supplemental Appropriations Act
2007-220	May 25, 2007	Court of Federal Claims Finds Stock Transaction Did Not Qualify as a Redemption Under Both Sham and Step Transaction Doctrines; Refund Claim Is Denied
2007-219	May 25, 2007	IRS Reports Ford Hybrids Continue to Qualify for Tax Credit
2007-218	May 25, 2007	Legislative Update: Senate Finance Committee Proposal Concerning Basis Reporting of Securities Transactions
2007-217	May 24, 2007	Legislative Update: Pending Changes to Return Preparer Penalty Provisions
2007-216	May 24, 2007	Legislative Update: House, Senate to Consider War Supplemental that Includes Small Business Tax Provisions
2007-215	May 24, 2007	Treasury Responds to SEC, PCAOB Actions Concerning Section 404 of Sarbanes-Oxley
2007-214	May 23, 2007	Kentucky: U.S. Supreme Court Grants Certiorari in Case Addressing Taxability of Out-of-State Bond Interest
2007-213	May 23, 2007	Legislative Update: JCT Report on Current Law for Certain Housing Tax Benefits
2007-212	May 23, 2007	Text of Proposed Regulations Providing Updated Mortality Tables for Pension Funding Requirements in 2008
2007-211	May 23, 2007	IRS Provides Interim Guidance on Treatment of Expenses for Certain Employer-Provided Lodging
2007-210	May 23, 2007	IRS Update on Joint International Tax Shelter Information Centre
2007-209	May 23, 2007	IRS Addresses Treatment of Payments Made For Cancellation of an Automobile Distribution Franchise
2007-208	May 21, 2007	Final Regulations on Phased Retirement Programs
2007-207	May 21, 2007	U.S. Supreme Court: Tax Court Is Exclusive Forum for Judicial Review of IRS’s Failure to Abate Interest
2007-206	May 21, 2007	KPMG’s This Week in State Tax: Developments from Multistate Tax Commission, Kentucky, Tennessee, Texas, and Virginia
2007-205	May 18, 2007	IRS Guidance Concerning REITs and Treatment of Foreign Currency Gains
2007-204	May 14, 2007	KPMG’s This Week in State Tax: Developments in Kansas, Massachusetts, Michigan and a Multistate Legislative Update
2007-203	May 11, 2007	IRS Guidance Concerning Statistical Sampling for Purposes of Section 199
2007-202	May 11, 2007	Health Savings Accounts: Inflation Adjusted Items for 2007 and 2008
2007-201	May 11, 2007	Revenue Procedure Provides Guidance for Partnerships and S Corporations Concerning Qualified Production Activities Income and W-2 Wages
2007-200	May 10, 2007	Guidance Concerning Certification Procedures for Tax Credit for New Qualified Heavy-Duty Hybrid Motor Vehicles
2007-199	May 9, 2007	Deadline for Submitting Clean Coal Tax Credit Allocation Requests Remains June 30
2007-198	May 8, 2007	Legislative Update: Joint Committee Releases Comparison of Model Tax Treaties
2007-197	May 8, 2007	Tax Court Holds Warrants Taxable in Year of Grant Because Not Transferred in Connection with Performance of Services and Have Ascertainable Value
2007-196	May 7, 2007	Legislative Update: Joint Committee Releases Pamphlet on Worker Classification
2007-195	May 7, 2007	IRS Reports Nissan Hybrid Still Qualifies for Alternative Motor Vehicle Credit
2007-194	May 7, 2007	KPMG’s This Week in State Tax: Developments in Pennsylvania and Washington
2007-193	May 4, 2007	Legislative Update: House Taxwriters Introduce Research Credit Bill
2007-192	May 4, 2007	Proposed Regulations Provide Guidance Concerning the Active Trade or Business Requirement Under Section 355(b)
2007-191	May 3, 2007	Text of FASB Staff Position: Definition of “Settlement” in FIN 48
2007-190	May 3, 2007	Text of IRS Guidance Concerning Uncollected “Accrued Interest” by Banks and Procedures to Change Method of Accounting
2007-189	May 2, 2007	IRS Reports Phase-Out of Motor Vehicle Credit Continues for Toyota, Lexus Hybrids; GM Hybrids Still Qualify for Credit
2007-188	May 2, 2007	IRS Provides Interim Guidance on Credit for Qualified Alternative Fuel Vehicle (QAFV) Refueling Property
2007-187	May 2, 2007	IRS Updates the Gaming Industry Tip Compliance Program
2007-186	May 2, 2007	Revenue Ruling Addresses Tax-Free Exchange of Annuity Contracts
2007-185	May 1, 2007	IRS Releases Draft Form 1120-F, Draft Schedule M-3 to Be Filed by Foreign Corporations
2007-184	May 1, 2007	Proposed Regulations Address Custodial Parent and the Right to Claim a Child as a Dependent

April 2007

Issue	Date	Subject
2007-183	April 30, 2007	U.S. Supreme Court: Code Section 7426(a)(1) Provides Exclusive Remedy to Challenge Wrongful Levy; Action Must Be Filed Within Nine-Month Limitations Period
2007-182	April 30, 2007	KPMG’s This Week in State Tax: Developments in Georgia, New York, Pennsylvania, Tennessee, Texas, and Virginia
2007-181	April 27, 2007	IRS Rules That FCC-Related Universal Service Support Is Not a Nonshareholder Contribution to Capital
2007-180	April 27, 2007	IRS Addresses Application of Section 199 to Mineral Extraction and Processing by Partnerships for Tax Years Beginning on or Before May 17, 2006
2007-179	April 27, 2007	Treasury, IRS Request Recommendations for Items to Be Included in 2007-2008 Guidance Priority List
2007-178	April 27, 2007	SEC Announcement on IFRS in Filings
2007-177	April 27, 2007	Text of Final Regulations Providing Guidance Concerning Designated Roth Accounts
2007-176	April 24, 2007	Legislative Update: Joint Committee Releases Explanation of Small Business Tax Amendment to Iraq Supplemental Bill
2007-175	April 23, 2007	Legislative Update: Tax Chairs Agree to Small Business Tax Package
2007-174	April 23, 2007	IRS Notice Concerning Rules and Standards of Monetary Penalties Under Circular 230
2007-173	April 23, 2007	KPMG’s This Week in State Tax: Developments in Alabama, Indiana, Kentucky, Massachusetts, Oklahoma, and Washington
2007-172	April 20, 2007	Changes to Electronic Filing Procedures for Use by Trustees of Archer MSAs
2007-171	April 20, 2007	Proposed Regulations Intended to Clarify Rules Relating to Amounts Deductible from Gross Estate for Claims Against the Estate
2007-170	April 19, 2007	Federal Circuit Affirms Deficiency Interest Case in Which “Credit Elect” Is Not Used to Pay Estimated Taxes but Is Rolled Forward
2007-169	April 18, 2007	Compliance with the Objectives of the Fair Value Option at Adoption
2007-168	April 18, 2007	IRS Gives Northeast Storm Victims Until April 26 to File Tax Returns
2007-167	April 17, 2007	Legislative Update: House Approves Taxpayer Protection Bill
2007-166	April 17, 2007	IRS Provides Housing Cost/Income Ratio for Use by Issuers of Qualified Mortgage Bonds, Mortgage Credit Certificates
2007-165	April 17, 2007	Ninth Circuit: Taxpayers Not Entitled to Legal Fees Incurred to Quash Unenforceable Third-Party Summonses
2007-164	April 17, 2007	IRS Announces Neither 2005 nor 2006 Is “Cut-Off” Year for Archer MSA Pilot Program
2007-163	April 16, 2007	IRS Grants April 16th Storm Victims Additional 48 Hours to File Income Tax Returns
2007-162	April 16, 2007	KPMG’s This Week in State Tax: Developments in Alabama, Louisiana, Nebraska, and Virginia
2007-161	April 13, 2007	Luxury Automobile Depreciation Limitations for 2007
2007-160	April 13, 2007	Revised Definition of Settlement in Tax Uncertainties Interpretation
2007-159	April 12, 2007	Tax Court Finds Abuse of IRS Commissioner’s Discretion When “Bright-Line Bond” Is Required for All Estates Seeking to Pay Estate Tax in Installments
2007-158	April 12, 2007	West Virginia: Enactment of Provisions Requiring Combined Reporting, Other Business-Related Measures
2007-157	April 12, 2007	Discussion of Proposed Regulations Addressing Treatment of “Open Account Debt” Between S Corporation and Its Shareholders
2007-156	April 11, 2007	Text of Proposed Regulations Addressing “Open Account Debt” Between S Corporations and Shareholders
2007-155	April 11, 2007	Final Regulations Address 10% Ownership Test for Portfolio Interest, and Incorporate Notice 2006-99 Relief
2007-154	April 10, 2007	Text of Final Regulations on Deferred Compensation Under Section 409A
2007-153	April 9, 2007	Court of Federal Claims Finds Taxpayer Failed to Make Required Election for Using Mark-to-Market Method of Accounting for Securities Transactions
2007-152	April 9, 2007	Anti-Avoidance, Anti-Loss Reimportation Rules Apply After Loss on Disposition of Stock of Consolidated Subsidiaries
2007-151	April 9, 2007	KPMG’s This Week in State Tax: Developments in California, Georgia, New York, and Tennessee
2007-150	April 6, 2007	Discussion of Proposed Section 901 Regulations Intended to Address Certain “Abusive Foreign Tax Arrangements"
2007-149	April 6, 2007	New York: Enactment of New Tax Law
2007-148	April 5, 2007	SEC Staff Guidance on Assumed Perfect Effectiveness of Hedge Relationships
2007-147	April 4, 2007	Legislative Update: Joint Committee Releases Estimate of Tax Provisions in Senate War Supplemental
2007-146	April 4, 2007	IRS Provides Phase-Out Amount, Factors for Determining the Credit Allowable Under Section 45K for Calendar Year 2006
2007-145	April 4, 2007	Text of Final Section 415 Regulations Concerning Limitations on Benefits and Contributions Under Qualified Plans
2007-144	April 4, 2007	IRS Identifies New Locations as Being Within the “North American Area” for Purposes of Deducting Convention, Meeting Expenses
2007-143	April 3, 2007	Tax Court Addresses Asset Class Life for Depreciation of Wine Grape Trellises, Irrigation Systems
2007-142	April 3, 2007	Accounting Standards: FASB Initiatives to Reduce Complexity, Increase Fair-Value Measurements, and Eliminate Differences Between U.S. GAAP and International Financial-Reporting Standards
2007-141	April 2, 2007	IRS Notice Addresses Issues Related to Fuel Produced by Coprocessing Biomass and Petroleum Feedstocks
2007-140	April 2, 2007	KPMG’s This Week in State Tax: Developments in Alabama, Louisiana, Minnesota, New York, and Utah

March 2007

Issue	Date	Subject
2007-139	March 30, 2007	United States, Brazil Sign Tax Information Exchange Agreement; Agreement Between United States and Netherlands Antilles Enters into Force
2007-138	March 30, 2007	Easier Deregistration for Foreign Private Issuers
2007-137	March 29, 2007	Tax Court: Trade Discounts Passed Along to Cooperative’s Member Stores Did Not Increase Cooperative’s Gross Income, and Were Not Defective Patronage Dividends
2007-136	March 29, 2007	Text of Proposed Regulations That Disallow Foreign Tax Credits Relating to Certain Transactions
2007-135	March 29, 2007	Final Regulations: Exchange Rate Used for Determining Gain/Loss Under “DASTM” on Transfer of Assets from Qualified Business Unit to U.S. Home Office or Parent Corporation
2007-134	March 29, 2007	Louisiana: Federal District Court Holds Online Retailer Not Required to Collect Parish Sales Taxes
2007-133	March 29, 2007	IRS Provide Additional Guidance Concerning GO Zone Additional First Year Depreciation Deduction
2007-132	March 29, 2007	IRS Finds UK’s ICE Futures to Be a “Qualified Board or Exchange” for Purposes of Code Section 1256(g)(7)(C)
2007-131	March 28, 2007	Final Regulations for Accounting for Self-Constructed Assets
2007-130	March 28, 2007	2007 Inflation Adjustment Factors, Reference Prices for Section 45 Credit for Renewable Electricity, Refined Coal Production
2007-129	March 28, 2007	Legislative Update: Senate Adds Small Business Tax Provisions to War Supplemental
2007-128	March 28, 2007	Legislative Update: Ways and Means Approves Taxpayer Protections; House Passes Katrina Housing Aid
2007-127	March 27, 2007	Second Circuit Joins Other Courts in Finding Lump-Sum Payment in Exchange for Future Annual Lottery Payments Is Ordinary Income
2007-126	March 27, 2007	U.S. Supreme Court: “Tax Valuation” in Guam’s Statute Refers to Assessed Valuation, Not Appraised Valuation
2007-125	March 26, 2007	Legislative Update: Joint Committee Releases Analysis of President’s 2008 Budget Proposal
2007-124	March 26, 2007	KPMG’s This Week in State Tax: Developments in California, Maryland, New York, and West Virginia
2007-123	March 23, 2007	Sixth Circuit: Discharge of Debt Realized When Bankruptcy Case Was Concluded; Taxpayers Not Allowed to Carry Back Losses
2007-122	March 23, 2007	IRS Practice & Procedure Alert: IRS Makes Changes to Form 8832, Entity Classification Election
2007-121	March 23, 2007	Internal Revenue Bulletin 2007-13 Includes Updates Relating to Retail and LIFO Inventory Valuation, Fringe Benefit Aircraft Valuation Formula
2007-120	March 21, 2007	Legislative Update: Ways and Means Approves Amended Katrina Benefits with Revenue Provisions
2007-119	March 20, 2007	Legislative Update: Ways and Means to Consider Extending Katrina Benefits
2007-118	March 20, 2007	Tax Governance Institute: What You Need to Know About Transfer Pricing Risk
2007-117	March 19, 2007	IRS Announces 2007 Saturn Aura Is Qualified Hybrid Vehicle
2007-116	March 19, 2007	Legislative Update: House Committee Advances Small Business Tax Bill
2007-115	March 19, 2007	Temporary, Proposed Regulations Amend, Clarify When the Point in Time for Measuring Whether the Section 368 “Continuity of Interest” Requirement Is Satisfied
2007-114	March 19, 2007	Additional Comments Requested Concerning Taxation of Income Earned on Escrow Accounts, Trusts, and Other Funds Used in Like-Kind Exchanges
2007-113	March 19, 2007	Final Regulations Concerning Application of Section 199 to Computer Software
2007-112	March 19, 2007	KPMG’s This Week in State Tax: Developments in Maryland, New York, Washington, and Wisconsin; U.S. Supreme Court Actions and Multistate Legislative Update
2007-111	March 16, 2007	IRS Releases 2006 Data Book
2007-110	March 16, 2007	Internal Revenue Bulletin 2007-12 Includes Guidance Relating to Disclosure of Certain Penalties on Forms to Be Filed with the SEC
2007-109	March 16, 2007	Final Dual Consolidated Loss Regulations
2007-108	March 15, 2007	IRS Notice Provides Interim Guidance Concerning Clean Renewable Energy Bonds
2007-107	March 15, 2007	IRS Reminds Businesses That Prepaid Phone Card Retailers Usually Qualify for Telephone Excise Tax Refund
2007-106	March 14, 2007	IRS Offers “Safe Harbor” for Missing Reports Filed by Certain 527 Political Organizations
2007-105	March 13, 2007	IRS Provides Q&As on Changes to Section 404
2007-104	March 12, 2007	IRS Reminds Corporations of March 15th Deadline to e-File or File for an Extension, and of Availability of Interest Factors for Claiming Telephone Excise Tax Refund
2007-103	March 12, 2007	IRS, Treasury Release Updated 2006-2007 Priority Guidance Plan
2007-102	March 12, 2007	IRS Requests Comments on Guidance, Issues Interim Rules on Allocation of Costs Under the Simplified Methods of Accounting Under Section 263A
2007-101	March 12, 2007	FASB to Amend Definition of Settlement in Tax Uncertainties Interpretation
2007-100	March 12, 2007	KPMG’s This Week in State Tax: Developments in Illinois, Massachusetts, Michigan, New York, North Carolina, Vermont, and West Virginia
2007-99	March 8, 2007	Internal Revenue Bulletin 2007-11 Includes Earlier Guidance, Announcements of Public Hearings
2007-98	March 8, 2007	Tax Governance Institute: Tax, Financial Accounting, and Securities Law Implications of Equity-Based Compensation
2007-97	March 5, 2007	Legislative Update: JCT Report on Individual AMT
2007-96	March 5, 2007	KPMG’s This Week in State Tax: Developments in Louisiana, Michigan, New York, and a Multistate Legislative Update
2007-95	March 1, 2007	IRS Requests New Topics for the Industry Issue Resolution Program

February 2007

Issue	Date	Subject
2007-94	February 28, 2007	Changes to Regulations Concerning Related-Party Triangular Asset Acquisitions Under Section 368(a)(1)(D) When No Acquiring Stock Is Issued in the Transaction
2007-93	February 28, 2007	IRS, Treasury Anticipate the Format of a Future Guidance Pilot Program; Model for Program Is IRS Notice Relating to Modifications of Commercial Loan Obligations Held by a REMIC
2007-92	February 28, 2007	IRS Extends 2007 Deadline to June 30th for Restaurant, Beverage Industry Employers to Elect Participation in Tip Income Program
2007-91	February 27, 2007	Final Regulations Concerning Depreciation of MACRS Property Acquired in Like-Kind Exchange or Involuntary Conversion
2007-90	February 27, 2007	IRS Issues Reminder for Accurate Schedule K-1 Reporting
2007-89	February 26, 2007	Review of Provisions in the United States-Bulgaria Income Tax Treaty and Protocol
2007-88	February 26, 2007	KPMG’s This Week in State Tax: Developments in Hawaii, Indiana, Michigan, New Jersey, a Multistate Legislative Update, and U.S. Supreme Court Actions
2007-87	February 23, 2007	Text of United States-Bulgaria Income Tax Treaty, Protocol
2007-86	February 23, 2007	Federal Circuit Affirms Taxpayer Is Entitled to Foreign Tax Credit; Luxembourg Parent Solely Liable for Luxembourg Tax of Luxembourg Consolidated Group
2007-85	February 23, 2007	IRS Modifies Housing Cost Amount Excludible by U.S. Citizens Living Abroad
2007-84	February 23, 2007	Internal Revenue Bulletin 2007-9 Provides Compendium of Earlier Guidance, Corrections to Regulations
2007-83	February 22, 2007	Tax Court Concludes Yacht Captain Qualifies for Foreign Earned Income Exclusion
2007-82	February 22, 2007	Trustees, Custodians of Archer MSAs Must File Reports with IRS by March 20, 2007
2007-81	February 22, 2007	IRS to Address LIFO Inventory Issue for Automobile Manufacturers, Dealers Concerning Crossover Vehicles
2007-80	February 21, 2007	IRS Interim Rules Concerning U.S. Income Tax Liabilities of Certain Individuals Filing Income Tax Returns with the U.S. Virgin Islands
2007-79	February 20, 2007	Honda Hybrids Continue to Qualify for Alternative Motor Vehicle Credit
2007-78	February 20, 2007	Certiorari Denied in Economic Substance Case
2007-77	February 19, 2007	KPMG’s This Week in State Tax: Developments in California, Massachusetts, New York, and a Multistate Legislative Update
2007-76	February 16, 2007	Legislative Update: House Passes Small Business Tax Bill
2007-75	February 16, 2007	IRS Revises “Now Obsolete” Guidance List
2007-74	February 16, 2007	Advance Release of Internal Revenue Bulletin Includes Corrections to Earlier Guidance
2007-73	February 16, 2007	IRS Addresses Exclusion of Life Insurance Proceeds Concerning Transfers of Life Insurance Contracts Between Grantor Trusts Owned by Same Grantor
2007-72	February 15, 2007	IRS Guidance on One-Time Rollovers from Health FSAs and HRAs to Health Savings Accounts
2007-71	February 15, 2007	IRS Revises Earlier Position Concerning When Accrual Basis Taxpayer Can Treat Payroll Tax Liability as Having Been Incurred Concerning Deferred Compensation
2007-70	February 14, 2007	IRS Allows Use of Net Consideration Method for Qualified Patent Cross Licensing Arrangements
2007-69	February 14, 2007	IRS Announces $2.3 Billion Settlement of Taxpayer’s Disputed Tax Issues During Examination Process
2007-68	February 13, 2007	IRS Will Waive Estimated Tax Penalty for Certain U.S. Citizens and Residents Living Abroad
2007-67	February 13, 2007	Legislative Update: Ways and Means Approves Small Business Tax Bill
2007-66	February 12, 2007	Federal Circuit Affirms Income from Stock Options Is Taxable in Year of Exercise, Even When Margin Loan Used to Acquire Stock Is Not Paid Until Later
2007-65	February 12, 2007	KPMG’s This Week in State Tax: Developments in Indiana, Massachusetts, Oregon, Pennsylvania, and Utah
2007-64	February 12, 2007	IRS Officials Hint at Expanded Work Paper Scrutiny
2007-63	February 9, 2007	Legislative Update: Ways and Means to Mark Up Bipartisan Small Business Bill
2007-62	February 9, 2007	IRS Modifies Procedures to Allow for Electronic Payment of User Fees Relating to U.S. Residency Certificates
2007-61	February 9, 2007	Reminder: IRS Grants of Special Relief for Natural Disasters Extend the Section 1031 Time Periods
2007-60	February 8, 2007	IRS Offers Compliance Resolution Program Allowing Employers to Satisfy Tax Obligations of Certain Employees with “Backdated” Stock Options
2007-59	February 8, 2007	Regulations Concerning Deduction of Film and Television Production Costs
2007-58	February 8, 2007	IRS Reports Phase-Out of Motor Vehicle Credit Continues for Toyota, Lexus Hybrids; GM Hybrids Still Qualify for Credit
2007-57	February 7, 2007	IRS Grants Tax Relief to Victims of Recent Florida Storms, Tornadoes
2007-56	February 5, 2007	Legislative Update: President Bush Proposes $1.9 Trillion in Tax Cuts
2007-55	February 5, 2007	KPMG’s This Week in State Tax: Developments in California, Illinois, Indiana, Missouri, and Wisconsin
2007-54	February 2, 2007	Legislative Update: Senate Passes Small Business Tax Benefits in Minimum Wage Bill
2007-53	February 2, 2007	IRS Guidance on Requests for Rescission of Penalties with Respect to Reportable Transactions
2007-52	February 1, 2007	Final and Temporary Regulations on Section 367 Gain Recognition Agreements Are Issued
2007-51	February 1, 2007	Missouri: State Supreme Court Affirms Ruling That Gain from IRC Section 338(h)(10) Deemed-Asset Sale Was Non-Business Income
2007-50	February 1, 2007	Text of Final Regulations Providing Updated Mortality Tables for Pension Funding Requirements

January 2007

Issue	Date	Subject
2007-49	January 31, 2007	Reminder: Deduction for Qualified Production Activities Income Doubles to 6% in 2007
2007-48	January 31, 2007	IRS Announces 2008 Ford Hybrid Vehicles Are Certified for Alternative Vehicle Tax Credit; Other Model-Year Ford Hybrids Still Qualify
2007-47	January 29, 2007	IRS Releases New Online State Sales Tax Calculator
2007-46	January 29, 2007	IRS, Treasury Are Considering Regulations to Clarify Types of Benefits Allowed Under Qualified Defined Benefit Plan
2007-45	January 29, 2007	KPMG’s This Week in State Tax: Developments in California, Massachusetts, Michigan, New York, and Pennsylvania
2007-44	January 29, 2007	Alabama: State Court Finds Add-Back of Royalty Deduction Unreasonable
2007-43	January 26, 2007	IRS Guidance on Closing Agreements for Certain Inadvertent Failures Relating to Insurance Contracts
2007-42	January 26, 2007	Certain Transactions with Contractual Protection Are Not “Reportable Transactions” for Purposes of Disclosure Rules Under Reg. Section 1.6011-4(b)(4)
2007-41	January 26, 2007	IRS Releases Redesigned Form 940 for Tax Year 2006
2007-40	January 25, 2007	IRS Corrects Guidance Related to “Cost Test” in the Revised Subpart F Substantial Assistance Rules
2007-39	January 24, 2007	IRS Reminds Individual Taxpayers of April 17, 2007 Filing / Payment Deadline
2007-38	January 23, 2007	Legislative Update: Overview of President Bush’s Proposal for Health Insurance
2007-37	January 22, 2007	Federal Circuit: Taxpayer Entitled to Interest on Repayment of Unconstitutional Export Tax
2007-36	January 22, 2007	KPMG’s This Week in State Tax: Developments in Illinois, Michigan, Oregon, and Texas
2007-35	January 19, 2007	IRS Practice & Procedure Alert: Update on Revised Form 8832, Entity Classification Election
2007-34	January 19, 2007	IRS Chief Counsel Memorandum Addresses Transition Rules for Repeal of FSC/ETI Regimes
2007-33	January 18, 2007	Legislative Update: House Passes Energy Bill; Includes Revenue Increases
2007-32	January 18, 2007	Tax Court Allows Deduction of Expenses Relating to Horse Boarding and Training Facility
2007-31	January 18, 2007	Legislative Update: JCT Releases “Bluebook” Explanation of Tax Legislation Enacted in the 109th Congress
2007-30	January 18, 2007	IRS to Revise Form 1120-F and Develop a Schedule M-3 (1120-F)
2007-29	January 17, 2007	Legislative Update: Senate Finance Approves Small-Business Mark with Deferred Compensation Deduction Limit
2007-28	January 17, 2007	FASB Board Members Vote Not to Defer Effective Date of FIN 48
2007-27	January 17, 2007	IRS Revises Guidance on Taxpayer Requests for Credit or Refund of Excise Tax on Long-Distance Telephone Services
2007-26	January 16, 2007	Legislative Update: Senate Finance Bill Would Include Revenue Provisions
2007-25	January 16, 2007	Text of Proposed Regulations Under the Unified Rule for Loss on Subsidiary Stock
2007-24	January 16, 2007	Seventh Circuit: Antarctica Is Not Foreign Country for Section 911 Purposes; Tax Court Is Affirmed
2007-23	January 16, 2007	IRS Confirms the Reasonable Application of Amended Section 357(c)
2007-22	January 16, 2007	IRS Rules Credit Card NSF Fee Is Not Interest for Federal Income Tax Purposes
2007-21	January 15, 2007	Legislative Update: House Energy Bill Includes Tax Provisions
2007-20	January 15, 2007	Legislative Update: Description, Revenue Estimate of Small Business Proposals Pending in Senate Finance Committee
2007-19	January 15, 2007	KPMG’s This Week in State Tax: Developments in California, New York, Virginia, and West Virginia
2007-18	January 12, 2007	Legislative Update: JCT Provides Overview of Federal Tax System for 2007
2007-17	January 11, 2007	Legislative Update: JCT Releases List of Expiring Federal Tax Provisions
2007-16	January 11, 2007	IRS Announces 2007 Nissan Altima Certified as Qualified Hybrid Vehicle
2007-15	January 11, 2007	IRS Guidance on Look-Through Rule for Related CFCs under Section 954(c)(6); Includes Anti-Abuse Rules
2007-14	January 11, 2007	U.S. Treasury, Illinois Department of Revenue Launch Pilot Program for Businesses to Remit Federal Taxes, State Withholding Taxes in a Single System
2007-13	January 11, 2007	Revenue Ruling Addresses Ownership Interest in RICs That Fund Annuity or Life Insurance Contracts
2007-12	January 11, 2007	Register Now: Tax Governance Institute’s Inaugural Webcast on Tuesday, January 16, 2007
2007-11	January 10, 2007	IRS Provides Guidance on Distribution Provisions Under the Pension Protection Act of 2006
2007-10	January 9, 2007	IRS Taxpayer Advocate Releases Annual Report; AMT and Tax Gap Top the List of Problems
2007-09	January 9, 2007	IRS Releases 2007 Inflation Adjustment Amounts for Qualified and Cash Method Debt Instruments
2007-08	January 9, 2007	IRS Narrows Definition of Subpart F Foreign Base Company (FBC) Services Income by Applying the Substantial Assistance Rules Only to Certain Assistance by U.S. Persons; IRS Also Addresses Repeal of FBC Shipping Rules
2007-07	January 8, 2007	IRS Will Not Process Certain Individual Returns Filed Before February 3, 2007; Guidance on Claiming Certain Extended Deductions
2007-06	January 8, 2007	Final Regulations Establish Periods for Filing Amended Returns When a John Doe Summons or a Listed Transaction Is Involved
2007-05	January 8, 2007	IRS Makes Electronic Filing Available for Partnership Returns Using the Modernized e-File Platform
2007-04	January 8, 2007	KPMG’s This Week in State Tax: Developments in Alabama, Florida, New York and Texas
2007-03	January 4, 2007	IRS Releases Revised Form 8832, Entity Classification Election
2007-02	January 4, 2007	IRS Issues Fact Sheets in Advance of Filing Season for 2006
2007-01	January 2, 2007	Rev. Proc. 2007-1 Contains Revision Affecting Taxpayer’s Request for a Change in Accounting Method

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