Pillsbury Tax Page

<body bgcolor="#FFFFFF" text="#000000" link="#003399" alink="#000000" vlink="#660000"> <center><table width=468 border=0> <tr><td><img src="images/logoBanner180x165.gif" align=left height=165 width=180 alt="Pillsbury Winthrop Shaw Pittman LLP Tax Page [11K]"> <br clear=left><br><br></td></tr> <tr><td><a href="http://www.pillsburylaw.com" target="_top"><b>Pillsbury Winthrop Shaw Pittman <font size=-1>LLP</font></b></a> is an international law firm with offices in San Francisco, New York, Washington, D.C., Los Angeles, London, Beijing, Shanghai, Tokyo and Abu Dhabi, as well as Northern Virginia, Palm Beach, Florida, Houston and Austin, Texas and San Diego, Sacramento and Palo Alto, California.<p> <font size =-1>This material is presented as a World Wide Web demonstration by the tax department of <a href="http://www.pillsburylaw.com" target="_top">Pillsbury Winthrop Shaw Pittman LLP</a>. <A HREF="mailto:comments@pmstax.com">Comments</A> are welcome on the design or content of this material. <noscript><b>If you find any of our material contained within another site's frames, we ask that you <a href="http://www.pmstax.com/index.shtml" target="_top">use this link</a> to break out.</b></noscript></font><p><hr>   <h4>Recent Tax Page Quick Takes</h4><p> <center><table><tr valign=top> <td width=120><font size=-1>August 23, 2016</font></td> <td width=382><a href="./quickTakes/2704-160823.shtml" target="_top">Proposed Section 2704 Valuation Regulations</a>.<p></tr></td> <tr valign=top> <td width=120><font size=-1>July 27, 2016</font></td> <td width=382><a href="./quickTakes/83b-copy-160727.shtml" target="_top">IRS Eliminates Requirement to File Copy of 83(b) Election with Tax Return</a>.<p></tr></td> <tr valign=top> <td width=120><font size=-1>July 14, 2016</font></td> <td width=382><a href="./quickTakes/355-device-atb-160714.shtml" target="_top">IRS Proposes Regulations on the Spinoff Device and Active Business Tests</a>.<p></tr></td> </table></center> See the complete listing of <a href="./quickTakes/index.shtml" target="_top">Tax Page Quick Takes</a>.<p> <font size=-1>Quick Takes contain short summaries and highlights of recent tax developments often with links to underlying material.</font> <p><hr><p> <h4>Other Items</h4><p> Our January 2016 International Tax Bulletin, <a href="./intl/PATH-FIRPTA-160114.shtml" target="_top">PATH Act Changes to FIRPTA</a> (12K). View the <a href="./ftp/intl/bull1601.pdf" target="_top">printed, Adobe Acrobat (189K) version</a>.<p> Our November 2015 Partnership Tax Bulletin, <a href="./part/partAudit1511.shtml" target="_top">Tougher than TEFRA: Congress Takes the Partnership Audit Rules in a Different Direction</a> (17K). View the <a href="./ftp/part/bull1511.pdf" target="_top">printed, Adobe Acrobat (186K) version</a>.<p> Our August 2015 International Tax Bulletin, containing <a href="./intl/Altera-1508.shtml" target="_top">Tax Court <i>Altera</i> DecisionStock-Based Compensation Not Included in Cost Sharing Arrangement</a> (11K), <a href="./intl/Notice2015-54-1508.shtml" target="_top">Notice 2015-54Toll Charge on Certain Transfers to Partnerships with Foreign Affiliates</a> (5K) and <a href="./intl/FBAR-1508.shtml" target="_top">FBAR Filing Deadline Revised</a> (3K). View the <a href="./ftp/intl/bull1508.pdf" target="_top">printed, Adobe Acrobat (218K) version</a>.<p> Our June 2015 International Tax Bulletin, <a href="./intl/Treaty-1506.shtml" target="_top">Changes to U.S. Model Income Tax Convention</a> (20K). View the <a href="./ftp/intl/bull1506.pdf" target="_top">printed, Adobe Acrobat (199K) version</a>.<p> Our March 2015 State & Local Tax Bulletin, containing <a href="./state/SFGRT-150418.shtml" target="_top">San Francisco Gross Receipts Tax: New Regulations Impact Returns Originally Due March 2, 2015</a> (24K) and <a href="./state/ccc-150418.shtml" target="_top">Franchise Tax Board California Competes Tax Credit Review Procedures</a> (17K). View the <a href="./ftp/state/bull1503.pdf" target="_top">printed, Adobe Acrobat (365K) version</a>.<p> Our December 2014 State & Local Tax Bulletin, containing <a href="./state/transferTax-1412.shtml" target="_top">Court of Appeal Holds Transfer TaxApplies to Legal Entity Changes in Ownership</a> (15K) and <a href="./state/outline-1412.shtml" target="_top">What Every Trusts and Estates Attorney Should Know About Changes in Ownership</a> (46K). View the <a href="./ftp/state/bull1412.pdf" target="_top">printed, Adobe Acrobat (337K) version</a>.<p> Our July 2014 State & Local Tax Bulletin, containing <a href="./state/DMA-1407.shtml" target="_top">United States Supreme Court to Review <i>Direct Marketing</i></a> (10K) and <a href="./state/OceanAvenue-1407.shtml" target="_top"><i>Ocean Avenue v. County of Los Angeles</i> and AB 2372</a> (8K). View the <a href="./ftp/state/bull1407.pdf" target="_top">printed, Adobe Acrobat (229K) version</a>.<p> Our June 2014 International Tax Bulletin, <a href="./intl/FBAR-1406.shtml" target="_top">DOJ Secures Verdict in Excess of $2 Million for Failure to File FBARs</a> (9K). View the <a href="./ftp/intl/bull1406.pdf" target="_top">printed, Adobe Acrobat (165K) version</a>.<p> Our April 2014 State & Local Tax Bulletin, containing <a href="./state/CApropTaxIndian-1404.shtml" target="_top">Federal Rule and Ninth Circuit Opinion Create Huge Opportunities on Indian Land</a> (14K) and <a href="./state/SFGRT-1404.shtml" target="_top">Lingering Questions About the San Francisco Gross Receipts Tax</a> (65K). View the <a href="./ftp/state/bull1404.pdf" target="_top">printed, Adobe Acrobat (372K) version</a>.<p> Our March 20, 2014 State & Local Tax Update, <a href="./state/ccc-140320.shtml" target="_top">California Competes Tax Credit Application Period Ends April 14, 2014</a> (4K).<p> Our February 2014 Partnership Tax Bulletin, <a href="./part/RP2014-12-1402.shtml" target="_top">IRS Issues Long-Promised Guidance Following Historic Boardwalk Decision</a> (32K). View the <a href="./ftp/part/bull1402.pdf" target="_top">printed, Adobe Acrobat (188K) version</a>.<p> Our February 2014 State & Local Tax Bulletin, containing <a href="./state/ccc-1402.shtml" target="_top">February 18th Deadline for Comments on California Competes Tax Credit Regulations</a> (7K) and <a href="./state/caNEC1402.shtml" target="_top">Deadline Approaching for California's New Employment Credit</a> (26K). View the <a href="./ftp/state/bull1402.pdf" target="_top">printed, Adobe Acrobat (255K) version</a>.<p> Our December 2013 State & Local Tax Bulletin, <a href="./state/ccc-1312.shtml" target="_top">GO-Biz Releases California Competes Tax Credit Draft Proposed Regulations</a> (25K). View the <a href="./ftp/state/bull1312.pdf" target="_top">printed, Adobe Acrobat (203K) version</a>.<p> Our October 2013 State & Local Tax Bulletin, <a href="./state/QSBS-1310.shtml" target="_top">California Reinstates Qualified Small Business Stock Benefits</a> (4K). View the <a href="./ftp/state/bull1310.pdf" target="_top">printed, Adobe Acrobat (153K) version</a>.<p> Our February 2013 Tax Bulletin, containing <a href="./gen/QSBS-1302.shtml" target="_top">Qualified Small Business Stock Developments</a> (11K) and <a href="./gen/PTIN-1302.shtml" target="_top">Tax Return Preparer Litigation</a> (9K). View the <a href="./ftp/gen/bull1302.pdf" target="_top">printed, Adobe Acrobat (137K) version</a>.<p> Our April 2012 International Tax Bulletin, containing <a href="./intl/FATCA-stock-1204.shtml" target="_top">FATCA Creates New Issues for Cross-Border Stock and Other Incentive Compensation Plans</a> (14K) and <a href="./intl/FATCA-pension-1204.shtml" target="_top">New FATCA Regulations Solve Some Issues for Pension Plans, But Other Problems Remain</a> (16K). View the <a href="./ftp/intl/bull1204.pdf" target="_top">printed, Adobe Acrobat (234K) version</a>.<p> See our <a href="./bulletins.shtml" target="_top">Tax Bulletins</a> listing for earlier material or use our <a href="./searchSite.shtml" target="_top">search</a> feature.<p><hr><p> <h4>OECD BEPS</h4> On October 5, 2015, the Organization for Economic Cooperation and Development's Center for Tax Policy and Administration released final reports for all 15 actions of its Base Erosion and Profit Shifting Project. The OECD has also provided <a href="http://www.oecd.org/ctp/beps-actions.htm" target="_new">links to the final reports and background material</a>, including discussion drafts and comments and interim reports.<p> <font size=-1><i>Last update: October 5, 2015.</i></font> <p><hr><p> <H4>Other Tax-Related Topics</H4><P> <A HREF="acqbasic/index.shtml" target="_top">An Introduction to U.S. Taxation of Corporate Acquisitions</A>. A Tax Page "classic," now updated for developments through September 2007, including 2003 disregarded entity merger regulations, 2004 "anti-inversion" legislation, 2006 foreign merger regulations and 2007 continuity of interest "signing date" temporary regulations.<p> <A HREF="sec83/index.shtml" target="_top">Section 83 Materials</A>. Code and Regulations relating to "property transfered in connection with the performance of services" and a <nobr>§ 83(b)</nobr> election form.<p> <hr> <h4>Other Pillsbury Winthrop Shaw Pittman Material</h4><p> The general <a href="http://www.pillsburylaw.com" target ="_top">Pillsbury Winthrop Shaw Pittman <font size=-1>LLP</font></a> web site.<p><hr> <H4>About this Site</H4><P> We have tested these pages with other but by no means all browsers, so if you experience difficulties viewing this material, please let us know.<p> <b>The information presented is only of a general nature, intended simply as background material, is current only as of its indicated date, omits many details and special rules and accordingly cannot be regarded as legal or tax advice.</b><p>  This World Wide Web demonstration is under the direction of <A HREF="cgi/getBio.cgi?WAINWRIGH_CB" target="_top">Brian Wainwright</A>, a tax partner in the Palo Alto office of Pillsbury Winthrop Shaw Pittman <font size=-1>LLP</font>.<p> <center> <img src="images/logo48x40.gif" height=37 width=40 alt="Pillsbury Winthrop [1.9K]"></center><p> <font size=-1>&copy 2016 Pillsbury Winthrop Shaw Pittman <font size=-2>LLP. <font size=-1>All Rights Reserved.<br>1540 Broadway, New York, NY 10036-4039. 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