Executive's Tax & Management Report articles from October 2007

Executive's Tax & Management Report archives from October 2007

Final regs issued on dependent care credit.
October 1, 2007... Taxpayers are allowed a credit for qualified expenses related to household and dependent care services if those services are necessary for their gainful employment. The IRS recently issued final regulations [T.D. 9354, Federal Register, Aug....

Back to basics: consolidated tax returns.(CORPORATIONS)
October 1, 2007... Consolidated tax returns can often become quite complex and confusing. That's why it is important to get back to basics and understand the big picture of consolidated tax returns before tackling all of the intricate details. This article will...

Disclosing elements of financial reporting quality.(MANAGEMENT STRATEGIES)
October 1, 2007... Many changes to financial reporting over the past 100 years have been motivated by an honest desire to increase "fair and full" disclosure of the financial information that is reported to outside users of that information. With this goal,...

Significant tax planning remains after "fix" to QSub sales.(CORPORATIONS)
October 1, 2007... A qualified subchapter S subidiary (QSub) is a domestic corporation that is wholly owned by an S corporation and for which the S corporation has made an election to treat the entity as a QSub. All assets, liabilities and items of income and...

Items slated for guidance in 2007-2008.(TAX PROCEDURES)
October 1, 2007... The Treasury and the IRS recently released their annual list of tax issues that they plan to provide formal guidance on in the coming year. The planned guidance includes regulations, rulings, revenue procedures and notices. The 2007-2008...

Life insurance cash out: to tax or not to tax.(FAMILY TAX ANGLES)
October 1, 2007... Amounts received from a life insurance policy after the death of the insured are excluded from gross income, under Internal Revenue Code Section ("Code Sec.") 101. But what is the tax treatment if the policy is cashed out while the insured is...

Employers want to help with retirement security.(Executive's Briefcase)(Brief article)
October 1, 2007... Eighty-two percent of U.S. employers say that providing "retirement income adequacy" is among their top priorities, according to the "Defined Contribution Plan Trends Survey" recently released by Buck Consultants (www.buckconsultants.com), a...

Scam offers money for survey participation.(Executive's Briefcase)(Brief article)
October 1, 2007... There's an old adage that if something sounds too good to be true, it probably is. That adage applies to a new e-mail scam in which unsuspecting taxpayers are falsely told that they will receive $80 for participating in an online IRS "Member...

Will annuities address retirement income concerns?(Executive's Briefcase)
October 1, 2007... In an effort to help prevent employees from outliving their income in retirement, companies will likely consider offering annuities as a new investment option in 401(k) plans, according to experts at Watson Wyatt Worldwide...

Full credit continues for several hybrids.(Executive's Briefcase)(Brief article)
October 1, 2007... After concluding its quarterly review of the number of hybrid vehicles sold, the IRS recently announced that the purchasers of hybrids from three manufacturers may continue to claim the alternative motor vehicle credit. Purchases of the...

Bulletin features sole proprietorship data.(DEALING WITH THE IRS)
October 1, 2007... Profits from non-farm sole proprietorships increased nine percent from tax year 2004 to tax year 2005, totaling $269.9 billion, according to the summer 2007 issue of the IRS's Statistics of Income Bulletin. The 2005 figure is based on data...