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September 2012

Issue

Date

Subject

2012-440

September 14, 2012

Legislative Update: JCT report on capital gains taxation

2012-439

September 14, 2012

United States, United Kingdom sign bilateral FATCA agreement

2012-438

September 14, 2012

Rev. Rul. 2012-25: IRS addresses wage recharacterization arrangements

2012-437

September 14, 2012

Treasury proposes to modify rules under Circular 230, to eliminate covered opinions rules

2012-436

September 13, 2012

Proposed regulations on application of section 172(h) to CERTs involving consolidated groups

2012-435

September 13, 2012

Tax Court declines to decide insurance company’s tax reserve issue when IRS concedes no deficiency

2012-434

September 13, 2012

FASB task force reaches three final consensuses

2012-433

September 13, 2012

Expanded lists of Louisiana, Mississippi areas affected by Hurricane Isaac and eligible for tax relief

2012-432

September 12, 2012

Final regulations—what causes property to be “publicly traded” for issue-price purposes

2012-431

September 11, 2012

Seventh Circuit: Individual who borrowed against insurance policy is liable for income tax on its cancellation

2012-430

September 11, 2012

IRS provides Q&As on pension funding stabilization

2012-429

September 10, 2012

Sixth Circuit: Online travel companies not required to collect municipal guest taxes

2012-428

September 10, 2012

KPMG analysis: Third Circuit’s decision on partnership transfer of historic rehabilitation tax credits

2012-427

September 10, 2012

Federal Circuit addresses when shares are constructively received

2012-426

September 10, 2012

KPMG analysis: Notice 2012-39 targets repatriation transactions involving outbound transfers of intangible property in certain asset reorganizations

2012-425

September 10, 2012

KPMG’s This Week in State Tax:


  • California (apportionment)
  • Illinois (200% interest penalty)
  • Massachusetts (mediation)
  • Massachusetts (combined reports)
  • Pennsylvania (click-though nexus)
  • Utah (taxable repairs)

2012-424

September 7, 2012

District of Columbia: Revised combined reporting regulation issued

2012-423

September 7, 2012

Sixth Circuit: Qualifying severance payments are not wages; FICA tax refund upheld

2012-422

September 7, 2012

Second Circuit: Costs for raw materials used in testing improvements to production processes denied research credit

2012-421

September 7, 2012

Legislative Update: Finance Committee’s extenders bill drops 10 provisions

2012-420

September 7, 2012

IASB issues hedge accounting model

2012-419

September 6, 2012

Reminder: 1603 Treasury grant program—application deadline fast approaching

2012-418

September 6, 2012

IRS notice concerning taxation of settlement payments to Indian tribes

2012-417

September 5, 2012

Regulations provide multiple hedges are deemed sold on disposal of terminated hedge

2012-416

September 5, 2012

IRS provides relief for taxpayers affected by Hurricane Isaac

2012-415

September 5, 2012

Percentages for foreign insurance companies to compute minimum effectively connected net investment income for 2011

2012-414

September 4, 2012

IRS modifies accounting method change procedures — section 381(a) transactions; electric transmission company repairs; section 179D

2012-413

September 4, 2012

Tax treatment of assets held by life insurance company in separate accounts after restructuring

2012-412

September 4, 2012

Insurance company ceding 100% risk not entitled to unearned premium reserve

2012-411

September 4, 2012

Proposed regulations prohibit negative amounts under simplified methods of accounting; provide new modified simplified production method

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