U.S. Law Watch » Exempt Organizations http://www.uslawwatch.com U.S. Legal & Regulatory Headlines Thu, 26 Jan 2012 18:07:29 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 American Institute of Certified Public Accountants Offers Comments to Treasury, IRS on Foreign Bank Account Report Guidance http://www.uslawwatch.com/2010/05/18/tax/american-institute-certified-public-accountants-offers-comments-treasury-irs-foreign-bank-account-report-guidance/ http://www.uslawwatch.com/2010/05/18/tax/american-institute-certified-public-accountants-offers-comments-treasury-irs-foreign-bank-account-report-guidance/#comments Tue, 18 May 2010 14:59:36 +0000 admin http://www.uslawwatch.com/?p=2086

The American Institute of Certified Public Accountants May 17 unveiled comments on requirements for taxpayers required to file the Report of Foreign Bank Account (FBAR) …

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]]> http://www.uslawwatch.com/2010/05/18/tax/american-institute-certified-public-accountants-offers-comments-treasury-irs-foreign-bank-account-report-guidance/feed/ 0 IRS Uncertain Positions Documents Answer Some Questions, Leave Others, Practitioners Say http://www.uslawwatch.com/2010/04/21/tax/irs-uncertain-positions-documents-answer-questions-leave-practitioners/ http://www.uslawwatch.com/2010/04/21/tax/irs-uncertain-positions-documents-answer-questions-leave-practitioners/#comments Wed, 21 Apr 2010 10:40:08 +0000 admin http://www.uslawwatch.com/?p=1724

The draft schedule and instructions that taxpayers would use to report uncertain tax positions, unveiled by the Internal Revenue Service April 19, are administratively helpful and well thought out—but concerns remain about the use of the information and the scope and breadth of the proposal itself, practitioners told BNA in interviews April 20.

The documents, issued under…

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]]> http://www.uslawwatch.com/2010/04/21/tax/irs-uncertain-positions-documents-answer-questions-leave-practitioners/feed/ 0 IRS Unveils Draft Schedule, Instructions for Reporting Uncertain Tax Positions http://www.uslawwatch.com/2010/04/20/tax/irs-unveils-draft-schedule-instructions-reporting-uncertain-tax-positions/ http://www.uslawwatch.com/2010/04/20/tax/irs-unveils-draft-schedule-instructions-reporting-uncertain-tax-positions/#comments Tue, 20 Apr 2010 09:40:20 +0000 admin http://www.uslawwatch.com/?p=1701

The Internal Revenue Service April 19 unveiled the eagerly awaited draft schedule and instructions that taxpayers would use to report their uncertain tax positions under a proposal announced in late January by Commissioner of Internal Revenue Douglas Shulman…

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]]> http://www.uslawwatch.com/2010/04/20/tax/irs-unveils-draft-schedule-instructions-reporting-uncertain-tax-positions/feed/ 0 Seventh Circuit Overturns Tax Court Ruling on Exempt Interest Expenses of Qualified Subchapter S Subsidiary Bank http://www.uslawwatch.com/2010/03/18/tax/seventh-circuit-overturns-tax-court-ruling-exempt-interest-expenses-qualified-subchapter-subsidiary-bank/ http://www.uslawwatch.com/2010/03/18/tax/seventh-circuit-overturns-tax-court-ruling-exempt-interest-expenses-qualified-subchapter-subsidiary-bank/#comments Thu, 18 Mar 2010 11:27:46 +0000 admin http://www.uslawwatch.com/?p=1367

The U.S. Court of Appeals for the Seventh Circuit March 17 found that shareholders in an S corporation—which is the sole shareholder of a tax code Section 1361(b)(3)(B) qualified subchapter S subsidiary (QSub) bank—may deduct the full amount of interest expenses relating to…

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]]> http://www.uslawwatch.com/2010/03/18/tax/seventh-circuit-overturns-tax-court-ruling-exempt-interest-expenses-qualified-subchapter-subsidiary-bank/feed/ 0 U.S.-U.K. Treaty Does Not Exempt U.K. Foundation from U.S.-Source Dividends Tax http://www.uslawwatch.com/2010/03/15/tax/usuk-treaty-exempt-uk-foundation-ussource-dividends-tax/ http://www.uslawwatch.com/2010/03/15/tax/usuk-treaty-exempt-uk-foundation-ussource-dividends-tax/#comments Mon, 15 Mar 2010 11:40:37 +0000 admin http://www.uslawwatch.com/?p=1313

The Internal Revenue Service Office of Chief Counsel, in a chief counsel advice memorandum released March 12, said the U.S.-U.K. income tax treaty does not exempt a U.K.-based private foundation from…

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]]> http://www.uslawwatch.com/2010/03/15/tax/usuk-treaty-exempt-uk-foundation-ussource-dividends-tax/feed/ 0 Rep. Levin Assumes Acting Chairmanship of House Tax Committee over Rep. Stark http://www.uslawwatch.com/2010/03/05/tax/rep-levin-assumes-acting-chairmanship-house-tax-committee-rep-stark/ http://www.uslawwatch.com/2010/03/05/tax/rep-levin-assumes-acting-chairmanship-house-tax-committee-rep-stark/#comments Fri, 05 Mar 2010 13:25:22 +0000 admin http://www.uslawwatch.com/?p=1164

Rep. Sander Levin (D-Mich.) March 4 assumed the acting chairmanship of the House Ways and Means Committee a day after Rep. Charles Rangel (D-N.Y.) stepped down from the top post and Rep. Fortney “Pete” Stark (D-Calif.) decided he did not want the position.

Levin stressed to reporters the…

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]]> http://www.uslawwatch.com/2010/03/05/tax/rep-levin-assumes-acting-chairmanship-house-tax-committee-rep-stark/feed/ 0 Government Provides Targeted Guidance, Proposes Rules on Report on Foreign Bank Account Requirements http://www.uslawwatch.com/2010/03/01/tax/government-targeted-guidance-proposes-rules-report-foreign-bank-account-requirements/ http://www.uslawwatch.com/2010/03/01/tax/government-targeted-guidance-proposes-rules-report-foreign-bank-account-requirements/#comments Mon, 01 Mar 2010 09:32:21 +0000 admin http://www.uslawwatch.com/?p=1066

IRS unveils targeted guidance that practitioners say will provide significant relief for taxpayers required to file the Report of Foreign Bank Account, on the heels of comprehensive proposed rules on FBAR requirements issued by the Treasury’s Financial Crimes Enforcement Network.

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