Tax Alert
May 21, 2007

IRS Publication on Alternate Tip Reporting Program

Death & Tax Attributes

May 14, 2007

Recent Retirement Plan Developments of Significance

May 7, 2007

Industry Issue Focus Audit Approach

Tax Provisions in Emergency War Funding Bill

April 30, 2007

Federal Workers and Retirees Owe Billions in Unpaid Taxes

Tax Freedom Day

New China Tax Law

April 23, 2007

What To Do If You Receive an IRS Notice

IRS Grants Additional Time Because of Storm

April 16, 2007

Time’s Up!!!

April 9, 2007

IRS Loses Taxpayer Data

IRS vs. Completed Contract Method

April 2, 2007

State Filing Deadline for Individual Returns

IRS Posts Overlooked Tax Benefits

March 26, 2007

Latest Edition of the BKD Advisor

Section 409A Final Regulations Coming Soon

March 19, 2007

IRS Releases List of Frivolous Tax Positions

Deductions for Noncash Donations on Government’s Radar

March 12, 2007

Electronic Filing for Exempt Organizations

Some Basic Strategies to Reduce Estate Tax

March 5, 2007

Attention Policyholders of Demutualized Insurance Companies

IRS Report on Exempt Organizations Executive Compensation

February 26, 2007

IRS Dirty Dozen

Supreme Court Will Not Hear Two Tax Shelter Cases

February 19, 2007

More on Tax Provisions in Minimum Wage Bill

Variable Prepaid Forward Contracts: IRS Frowns on Share Lending Agreements

February 12, 2007

Guidelines for Reportable Transactions Penalty Relief

Senate Passes the Fair Minimum Wage Act of 2007

February 5, 2007

Many 1099s Will Be Delayed

Recent Additions to IRS Web Site

January 29, 2007

New Online Workshop for Tax Exempt Organizations

IRS Tax Tips for 2007

January 8, 2007

FASB Refuses to Delay FIN 48

Legislative Brief

January 2, 2007

How to Claim Extended Deductions on Outdated 2006 IRS Forms

IRS Issues Updated Optional Sales Tax Tables

December 18, 2006

IRS Statistics Show Big Increase in Taxpayers Subject to AMT

Beware the Foreign Bank Account Reporting Requirements—and Penalties

December 11, 2006

Congress Passes the Tax Relief and Health Care Act of 2006

Health Savings Accounts (HSA)

December 4, 2006

IRS Posts Fact Sheet on Depreciation

Latest BKD Newsletters Available

November 27, 2006

New Formula for Calculating Telephone Tax Refunds

Still Missing Your Refund?

November 20, 2006

Will Congress Pass a Tax Extenders Bill in December?

IRS Has Lost 478 Laptop Computers Since 2002

November 13, 2006

Business Expense Reimbursements Must Be Accountable

2006 Form 1040 Posted to IRS Web Site

November 6, 2006

2007 Pension Plan Amounts Released

Standard Mileage Rate for 2007

October 23, 2006

IRS Attacks Private Annuities in Proposed Regulations

Social Security Administration Changes Rules for Obtaining Social Security Cards

October 16, 2006

Nonqualified Deferred Compensation Deadline Extended

October 9, 2006

New IRS Tool Allows Lenders to Quickly Check Tax Information

IRS Issues Updated Simplified Per Diem Rates

October 2, 2006

Lawmakers Present Various Tax Proposals to Ways & Means Committee

If You Have a Buy-Sell Agreement, Read This

September 25, 2006

Toyota Hybrid Credit to be Reduced After September

IRS Prepares to Pay Up on Old Telephone Excise Tax Claims

September 18, 2006

Installment Agreements Will be Available Online

IRS Wants Law Requiring Credit Card Companies to Report Customers’ Business Income

September 11, 2006

IRS Announces Telephone Excise Tax Standard Refund Amounts

New Saga:  Court Ruling Raises Constitutionality Arguments

September 4, 2006

New IRS Form for Depositing Refunds Into Multiple Accounts

Senate Leader Calls for Investigation of Certain Farm Operations

August 21, 2006

2006/2007 Priority Guidance Plan

New IRS Publication on Roth 401(k) Plan Accounts

August 14, 2006

Pension Act Includes Charitable Donation & COLI Reforms

August 7, 2006

IRS Auditing 5,000 Additional S Corporations

Pension Reform Act Passed

July 31, 2006

Congress Passes Bill to Block State Taxation of Retirement Payments Paid to Nonresident Partners

July 24, 2006

BKD’s Summary of Most Recent Tax Act

New GAAP Financial Statement Requirements for Uncertain Tax Positions

July 17, 2006

Use Federal Minimum Wage to Calculate FICA Tip Credit

New Disclosure Rules & Excise Tax for Exempt Entities Involved in Certain Transactions

July 10, 2006

Rising Interest Rates Affect Gift/Estate Planning

July 3, 2006

More Employers Required to File Information Returns Electronically

Legislative Update

June 26, 2006

BKD’s Summary of Most Recent Tax Act

Disaster Leave-sharing Plans

June 19, 2006

Always Double-check IRS Interest & Penalty Calculations

IRS Study & Fact Sheet Show Small Businesses Back on IRS’ Radar

IRS Errantly Rejected Certain Extension Requests

June 12, 2006

IRS Training Manual on Fringe Benefits

S Corporation Shareholders Take Note:  IRS Issues Unfavorable Guidance on Health Insurance Premiums

June 5, 2006

IRS Gives Up on Telephone Excise Tax

IRS Expands Direct Deposit Options

May 30, 2006

HERO Act Makes Nontaxable Combat Pay Compensation for IRA Purposes

Final Regulations Issued on Section 199 Deduction

May 22, 2006

IRS Crackdown on Credit Counseling Agencies

Appealing IRS Examinations

May 15, 2006

Voluntary Correction Program Updated

Highlights of the Tax Increase Prevention & Reconciliation Act

May 8, 2006

New Schedule M-3 Will Increase Compliance Costs of Large & Mid-sized S Corporations & Partnerships

New PCAOB Rules on Tax Services for SEC Companies

May 1, 2006

IRS Issues Sample Plan Amendment for Roth 401(k) Plans

Good News for Self-employed Notaries Public

April 24, 2006

Direct Deposit Option Can Accelerate Cash Basis Income

April 17, 2006

IRS Seeks PayPal Information

Partial Home Sale Exclusion Possible

April 10, 2006

What to Do if You Can’t Pay Your Tax Bill by April 17

April 3, 2006

Avoid Hobby Loss Limitations

Watch Out for Phishing Scams

March 27, 2006

IRS Releases 2005 Audit Statistics

March 20, 2006

IRS to Begin Outsourcing of Debt Collection this Summer

Employers with SIMPLE IRAs to Receive IRS letters

March 13, 2006

Outsourcing Payroll?  Know Your Responsibilities

March 6, 2006

Political Intervention by Tax-exempt Organizations

Guidance to Home Builders on New Energy Credit

Guidance for Homeowners on New Energy Credits

February 27, 2006

Mold Removal May be Currently Deductible

New IRS Ruling Allows Gift Tax Break for Tuition Prepayments

February 20, 2006

IRS Corporation Examination Approach Evolving

Medical Reimbursements Paid to Spouse-Employee Can be Deductible to the Business & Excluded From Spouse’s Income

February 13, 2006

IRS to Focus on Exempt Hospitals in 2006

IRS Announces “Dirty Dozen” Tax Scams for 2006

February 6, 2006

Personal Exemption Phase-out Reduced for 2006

January 30, 2006

IRS Releases 2006 Rates for Valuing Personal Use of an Employer-Provided Vehicle

Court Rules “Timely Filing Requirement” Regulations Invalid

January 23, 2006

New Simplified Payroll Reporting for Small Employers

New Nonbusiness Energy Credit for 2006

January 16, 2006

IRS Clarifies Substitute Statements may be Attached to Schedule D

IRS Fact Sheet Explains Tax Breaks for Hurricane Victims Under New Law

January 9, 2006

Regulations Explain Roth IRA Option for 401(k) Plans

Tips for Reconstructing Records Destroyed in a Disaster

January 2, 2006

IRS Warns of Questionable Deductions for Donated Vehicles

IRS to Raise User Fees in 2006

December 26, 2005

Transitional Relief for Plan Amendments

Early Retirement Payments to Tenured Faculty

Church & Nonchurch Political Intervention Cases

December 19, 2005

Big Nondisclosure Penalties

Deferred Compensation Reporting & Withholding Delayed Until 2006

Interest Rates Unchanged for First Quarter of 2006

December 12, 2005

IRS Reduces Standard Mileage Rates for 2006

IRS Issues 2006 Withholding Tables & Circular E

December 5, 2005

Guidance on S Corporation Family Shareholder Election

IRS Warns of Tax Refund email Scam

November 28, 2005

Paying Royalties Instead of Wages

2005 IRS Information Returns Requirements Updated

New Bankruptcy Law Changes Debtors' Tax-filing Responsibilities

New Computation Rules for Nonresident Alien Wage Withholding

November 21, 2005

Electronic Filing Waivers for Corporations & Exempt Organizations

December Applicable Rates

List of Vehicles Eligible for the Clean-fuel Deduction

New for 2005 Returns:  Six-month Automatic Extensions

November 14, 2005

IRS Abusive Transaction Settlement Program

Certain Tax Provisions Expire After 2005

Low-income Housing Credit Filing Requirements Relaxed

November 7, 2005

Tax Filing & Payment Deadlines Extended for Hurricane Wilma Victims

IRS Reports $73 Million in Unclaimed Refunds

October 31, 2005

2005 is the Last Year to Deduct General Sales & Use Taxes

Prepare Now to Claim the New Production Deduction

Collection of Telecommunications Excise Tax Must Continue

October 24, 2005

2006 Pension Plan Limitations

2006 Social Security Contribution & Benefit Base

Nanny Tax Threshold Increases to $1,500 in 2006

October 17, 2005

New Energy Tax Breaks

How Not to Structure a Family Limited Partnership (FLP)

Open Assessment Period for Some Responsible Persons

October 10, 2005

Updated Travel Per-diem Rates

IRS Warns of Scams Relating to Hurricane Katrina

Leave Donation Program Offers Favorable Tax Treatment to Benefit Hurricane Katrina Victims:

October 3, 2005

Larger Businesses Face E-filing Requirements

Valuing Employee Flights on Company Aircraft

IRS Grants Relief for Taxpayers Affected by Hurricane Rita