TaxNewsFlash editions are now searchable with the new TaxNewsFlash Index. Access the index via the links above or from the left-hand navigation panel.


To see today's edition, hold down the CONTROL button and click on the F5 button.

October 2009

Issue

Date

Subject

2009-491

October 30, 2009

Legislative Update: Senate Leaders Introduce Unemployment Compensation Bill That Would Extend Homebuyer Credit, NOL Carryback Period

2009-490

October 30, 2009

IRS LMSB Industry Director’s Directive #1: Guidance on Foreign Taxpayers Engaged in Exploration, Exploitation of Natural Resources on U.S. Outer Continental Shelf in the Gulf of Mexico

2009-489

October 29, 2009

Legislative Update: House Health Care Bill Would Impose Income Surtax, Delay Worldwide Interest Allocation

2009-488

October 29, 2009

Final Regulations Under Section 108 Regarding the Reduction of Tax Attributes for S Corporations with Discharge of Indebtedness Income

2009-487

October 28, 2009

GAO Report Examines Effects of Automatic Enrollment in 401(k) Plans

2009-486

October 28, 2009

Federal Circuit Affirms That in 1994, Obligation to Close a Short Sale Qualified as a Liability Under Section 752

2009-485

October 28, 2009

Legislative Update: Ways and Means Members Introduce Bill to Address Underfunded Pension Plans

2009-484

October 27, 2009

Legislative Update: Finance, Ways and Means Chairmen Unveil Tax Havens Legislation

2009-483

October 26, 2009

Legislative Update: CBO-JCT Study Examines System of Infrastructure Investment Subsidized with Tax-Preferred Bonds

2009-482

October 26, 2009

Updated Procedures for Eligible Small Employers to File Annual, Instead of Quarterly, Employer’s Tax Returns

2009-481

October 26, 2009

KPMG’s What’s News in Tax:


  • Cox Enterprises: Making Sense Out of What Seems to Be Nonsense
  • Eligibility for Treaty Benefits Under the Netherlands-U.S. Income Tax Treaty
  • Temporary Relief from the AHYDO Rules Set to Expire Soon
  • IRS Issues Generic Legal Advice Memorandum on Lending by Non-U.S. Funds
  • IRS Suspends Inventory Cost Issues in Auto Dealer Exams Until 2010

2009-480

October 26, 2009

KPMG’s This Week in State Tax: California (Decoupling); California (Proposed Repeal of Corporate Tax Initiatives); Indiana (Refund Procedures); New York (Taxable Software); Oregon (Pending Tax Increases)

2009-479

October 22, 2009

Tax Court: U.S. Taxpayer with Foreign Branch Operations Must Compute Its Research Credit Taking Into Account the Gross Receipts of the Foreign Branches

2009-478

October 22, 2009

Court of Federal Claims Finds a Number of Non-Tax, Business Reasons for Taxpayer’s LILO Transaction

2009-477

October 19, 2009

Legislative Update: Finance Committee Releases Text of Health Care Reform Bill

2009-476

October 19, 2009

IRS Commissioner Addresses the Role of Corporate Governance with Respect to Tax Risk and Tax Strategies

2009-475

October 19, 2009

KPMG’s This Week in State Tax: Connecticut (Tax Settlement Program); Indiana (Tax Base); Minnesota (Procedure); North Carolina (Procedure)

2009-474

October 16, 2009

FASB: Revised Proposal to Clarify Embedded Credit-Derivative Scope Exception

2009-473

October 16, 2009

KPMG’s Issues In-Depth: FASB Accounting Standards Updates

2009-472

October 16, 2009

GAO Report on International Taxation: Countries That Exempt Foreign-Source Income Face Compliance Risks and Burdens Similar to Those in the United States

2009-471

October 16, 2009

IRS Updates the List of Countries Allowing Reciprocal Privileges Relating to Exemption from Excise Tax for Fuel Supplies Used by Civil Aircraft

2009-470

October 16, 2009

Text of Final Regulations, IRS Guidance Under Section 2053 Concerning Certain Post-Death Events

2009-469

October 15, 2009

IRS Provides Inflation Adjustments for 2010

2009-468

October 15, 2009

Text of IRS Guidance on Mark-to-Market Regime for Individual Expatriates Under Section 877A

2009-467

October 15, 2009

Pennsylvania: Overview of Recently Enacted Tax Legislation

2009-466

October 14, 2009

Proposed Rules to Clarify Interaction Between Federal Excise Tax Payments and Claims for Drawback on Imported Wine, Spirits, Beer and Tobacco Products

2009-465

October 13, 2009

Legislative Update: Finance Committee Approves Health Care Reform Bill

2009-464

October 12, 2009

Legislative Update: House Version of Health Care Reform Bill Includes New Proposals to Strengthen Taxpayer Accuracy-Related Penalties

2009-463

October 12, 2009

KPMG’s What’s News in Tax:


  • The OECD’s Proposed Article 7: A Work in Progress with an Uncertain Future

2009-462

October 12, 2009

KPMG’s This Week in State Tax: Arizona (Sales Factor); Illinois (Bad Debt Deduction); Maryland (Combined Reporting); North Carolina (Sale and Use Tax Exemptions)

2009-461

October 9, 2009

IRS LMSB Industry Director Directive on Section 936 Exit Strategies #4: Tier I Change in Status

2009-460

October 8, 2009

Legislative Update: JCT Revenue Estimate of Revenue Provisions in Health Care Reform Bill Pending Before Senate Finance

2009-459

October 8, 2009

Eighth Circuit: Unsecured Loans by Decedents to Family-Owned Corporation Are Not “Interests” Under the Qualified Family-Owned Business Interest (QFOBI) Rules

2009-458

October 8, 2009

IRS Reminder: Due Date for Expanded Work Opportunity Tax Credit Is October 17, 2009

2009-457

October 8, 2009

IRS Interim Guidance on Credit for Carbon Dioxide Sequestration Under Section 45Q

2009-456

October 7, 2009

SEC Grants Six-Month Extension for Non-Accelerated Filers to Begin Complying with Final Stage of Sarbanes-Oxley

2009-455

October 7, 2009

IRS Reminder of Special Sales Tax Deduction for Car Purchases Available Through End of 2009

2009-454

October 7, 2009

Final Regulations Concerning Benefit Restrictions for Underfunded Defined Benefit Pension Plans

2009-453

October 6, 2009

Legislative Update: House Schedules Bill That Would Adjust Corporate Estimated Tax Payments

2009-452

October 6, 2009

Proposed Regulations on Limitations Period That Applies for Assessments Relating to Listed Transactions Not Disclosed Under Section 6011

2009-451

October 5, 2009

Legislative Update: JCT Description of Incentives for Distressed Communities, Empowerment Zones, and Renewal Communities

2009-450

October 5, 2009

KPMG’s This Week in State Tax: California (Tax Reform); Massachusetts (Economic Substance); New York (Taxable Services); Virginia (Amnesty)

2009-449

October 5, 2009

FASB: Measuring the Fair Value of Investments in Investment Companies

2009-448

October 1, 2009

Seventh Circuit Affirms District Court’s Determination That Taxpayer Had Reasonable Cause for Its Tax Position in Tax Shelter Case

2009-447

October 1, 2009

Interim Rules Implement Provisions Prohibiting Nondiscrimination on Genetic Information in Health Insurance Coverage and Group Health Plans

2009-446

October 1, 2009

President Signs Extension of Airline Ticket Taxes

© 2009 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved.

Privacy | Legal