House Oversight Tax Guidance Summaries (2007‑2008)

2008 12/02/08 Prospective tax increases and their possible revenue implications; inflation-adjusted 2008-11 numbers for 2009 and selected planning points 11/04/08 The Emergency Economic Stabilization Act of 2008 (Pub. L. 110-343): AMT 2008-10 extenders and ISO relief, tax-free IRA distributions to charity, deduction for state and local sales taxes, broker basis reporting, and harmonizing preparer penalties for undisclosed positions; making lemonade out of lemons — coping with the market decline 09/30/08 A discussion of the upcoming $3.5 million estate tax exclusion, and how it affects 2008-09 planning in “decoupled” states, especially for married couples 08/29/08 A selected review of major tax legislation during the Bush administration, and a 2008-08 snapshot of the tax proposals of Senators McCain and Obama 07/31/08 No discount for “restricted management accounts” (Rev. Rul. 2008-35); final regs on 2008-07 “grantor retained interest trusts” (T.D. 9414) 06/30/08 Charitable remainder trusts and UBTI: final regs (T.D. 9403); charitable lead trusts 2008-06 and “tiering” provisions: proposed regs (REG-101258-08) 05/30/08 Supreme Court holds that muni bonds still tax free (Kentucky v. Davis); IRS issues 2008-05 proposed regs on alternate valuation (REG-112196-07; Kohler v. Commissioner) 04/28/08 The awful AMT and its disappearing exemption; Notice 2008-22 and a trust grantor’s 2008-04 “nonfiduciary” power to swap trust property for property of equivalent value; planning techniques that work well in a low-interest rate environment 03/31/08 Disclaimers and self-adjusting valuation clauses (Christiansen) 2008-03 02/26/08 More on the new preparer penalties: Notice 2008-13 2008-02 01/28/08 Supreme Court affirms that trust investment advisory fees subject to 2% floor 2008-01 (Knight); wash sale rules and IRAs; survivorship and the marital deduction (Lee) 2007 12/21/07 AMT patch, cont’d.; 11" Circuit reverses Tax Court: built-in capital gains tax 2007-12 liability reduces value of closely held corporation: Estate of Jelke (General Utitilies doctrine; willing buyer-willing seller; IRA implications) 11/20/07 AMT patch; inflation-adjusted numbers for 2008 and planning points; 0% rate for 2007-11 dividends and capital gains 10/26/07 Preparer penalties: the new rules under the Small Business and Work Opportunity 2007-10 Act of 2007; transition rules under Notice 2007-54 09/28/07 Charlie Rangel’s proposal; AMT and estimated tax; taxing “carried interest” 2007-09 08/31/07 Saving for college: the “kiddie tax” and the pros and cons of different savings vehicles 2007-08 Tax Topics — Table of Contents — 2013 — 5 HOUSE_OVERSIGHT_022334