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Tax Bulletins

These bulletins on developments in United States federal and state and local tax law are part of the Pillsbury Winthrop Shaw Pittman LLP Tax Page, a World Wide Web demonstration project. Comments are welcome on the design or content of this material.

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.

Most of our bulletins are also available in more traditional print format as Adobe Acrobat pdf files; you'll need a copy of the Acrobat Reader, or Adobe Acrobat, to view or print those files. Files created on or after July 1, 1997 are in Acrobat 3.0 or later pdf format for improved display in Acorbat-enabled web browsers. Printed bulletins published before April 2005 will bear our Pillsbury Winthrop LLP, Shaw Pittman LLP or Pillsbury Madison & Sutro LLP predecessor mastheads.

Corporate Tax Bulletins

March 2010 5th Circuit Decision Highlights Tax Loss Carryforwards' Effect on M&A Deals. [6K] Printed (pdf) version. [119K]
November 2009 IRS Issues Guidance on Extended Net Operating Loss Carryback Period. [14K] Printed (pdf) version. [226K]
April 2009 Debt Relief Provisions of the Stimulus Act. [27K] Printed (pdf) version. [169K]
April 2003 Calls for Tax Law Changes in the Wake of Enron. [12K] Printed (pdf) version. [478K]
January 2003 Bush Administration Proposes Eliminating Double Tax on Corporate Earnings. [20K] IRS Grants 15-Day Grace Period for 2002 Inversion Reporting. [5K] Printed (pdf) version. [511K]
February 2002 IRS Announces New Position with Regard to Consolidated Return Loss Disallowance Rule, including a link to Notice 2002-11. [3K]
April 1997 Morris Trust Repeal Introduced, including certain legislative materials. [20K]  Internal Revenue Service Proposes Significant Changes in Shareholder Continuity of Interest, including a link to the proposed regulations. [10K]  Printed (pdf) version. [376K]
April 1996 A Proposal for Rationalizing the Treatment of Options and Warrants in Reorganizations. [27K]  Printed (pdf) version. [258K]
November 1995 Downstream Merger and Continuity of Interest Developments. New, and old, issues in the tax-free reorganization area: Revenue Procedure 94-76, the anti-Yoc Heating regulations and the Seagram case. [56K]  Printed (pdf) version. [89K]

International Tax Bulletins

January 2016 PATH Act Changes to FIRPTA [12K]. Printed, pdf version. [189K]
August 2015 Tax Court Altera Decision—Stock-Based Compensation Not Included in Cost Sharing Arrangement [11K], Notice 2015-54—Toll Charge on Certain Transfers to Partnerships with Foreign Affiliates [5K] and FBAR Filing Deadline Revised [3K]. Printed, pdf version. [218K]
June 2015 Changes to U.S. Model Income Tax Convention. [20K] Printed, pdf version. [199K]
June 2014 DOJ Secures Verdict in Excess of $2 Million for Failure to File FBARs. [9K] Printed, pdf version. [165K]
April 2012 FATCA Creates New Issues for Cross-Border Stock and Other Incentive Compensation Plans. [14K] New FATCA Regulations Solve Some Issues for Pension Plans, But Other Problems Remain. [16K] Printed, pdf version. [234K]
June 2011 Foreign Accounts—Extended Due Date for Certain FBARs for 2009 and Earlier. [2.5K]
May 2011 Foreign Accounts—Recent IRS Enforcement Activity and June 30th Reporting Deadline. [16K]  Printed (pdf) version. [187K]
August 2010 Foreign Tax Credit Changes in P.L. 111-226. [20K]  Printed (pdf) version. [162K]
March 2010 HIRE Act Contains FATCA Provisions Combatting Offshore Tax Evasion. [17K]  Printed (pdf) version. [153K]
July 2008 Significant Changes to U.S. Taxation of Expatriating Citizens and Long-Term Residents. [21K]  Printed (pdf) version. [172K]
October 2005 United States and Sweden Sign New Income Tax Treaty Protocol. [8K]  Printed (pdf) version. [127K]
November 2004 IRS Proposes Section 482 Regulations on Intangible Property and Services. [58K]  Printed (pdf) version. [236K]
February 1999 Transfer Pricing for Intangible Property under Section 482. [52K]  Printed (pdf) version. [131K]
January 1999 IRS Propses Modification of Revenue Procedure 65-17. A description of and link to Announcement 99-1. [6K]  IRS Proposes Foreign Partnership Reporting Rules. A discussion of and links to proposed regulations and draft IRS Form 8865 and instructions. [29K]  U.S. Withholding Tax Regulations Update, containing links to the final regulations as adopted in October 1997 and to subsequent amendments and developments. [11K] Printed (pdf) version. [123K]
January 1998 Government Reneges on Subpart F Application of "Check-the-Box". A description of and link to Notice 98-11. [12K]  Contract Manufacturing and Subpart F: IRS Revokes Revenue Ruling 75-7. A discussion of the contract manufacturing implications of revocation of Revenue Ruling 75-7 by Revenue Ruling 97-48, with links to the two rulings. [16K]  IRS Finally Releases Foreign Trust Reporting Form for 1996. Links to the recently released IRS Form 3520, and related instructions, for use for 1996 transfers. [3.6K]  U.S. Treasury Announces Entry into Force of Several Income Tax Treaties. Effective dates for several U.S. income tax treaties ratified in 1997. [3.4K]  Printed (pdf) version. [130K]
August 1997 International Tax Changes in the Taxpayer Relief Act of 1997. A description of the Taxpayer Relief Act of 1997 provisions affection U.S. federal income taxation of international transactions. [55K]  Printed (pdf) version. [163K]
July 1997 IRS Provides Guidance on 1996 Foreign Trust Changes. A report on the changes wrought in the U.S. taxation of foreign trusts and their U.S. grantors and beneficiaries by the Small Business Job Protection Act of 1996, with links to the legislation and committee reports and to implementing proposed regulations and IRS Notices and forms. [66K]  Printed (pdf) version. [163K]
December 1996 U.S. Treasury Department's Office of Tax Policy: Selected Tax Policy Implications of Global Electronic Commerce. Includes links to the full text of this paper. [6K]  Printed (pdf) version. [140K]
February 1996 Transfer Pricing Examinations. A detailed examination of U.S. Internal Revenue Service audit procedures, with particular emphasis on transfer pricing issues. [69K]  Printed (pdf) version. [295K]
November 1995 Treaty Override, Taxation of Offshore Stock Gains. A report on the Conference Committee's rejection of the U.S. Senate's addition of controversial tax treaty override and taxation of 10-percent offshore shareholder provisions to the 1995 budget reconciliation bill, together with an excerpt from the Conference Committee report and the text of those Senate provisions. [37K]  Printed (pdf) version. [63K]

Partnership Tax Bulletins

November 2015 Tougher than TEFRA: Congress Takes the Partnership Audit Rules in a Different Direction. [17K]   Printed (pdf) version. [186K]
February 2014 IRS Issues Long-Promised Guidance Following Historic Boardwalk Decision. [32K]   Printed (pdf) version. [188K]
July 2007 Congress Proposes to Increase Fund Managers' Taxes on Carried Interests. [14K]   Printed (pdf) version. [179K]
June 2005 Treasury Revisits Guidance on Partnership Interests Exchanged for Services. [23K]   Printed (pdf) version. [151K]
January 1999 IRS Provides Additional Guidance Regarding Single Member Entities. [41K]  IRS Proposes Foreign Partnership Reporting Rules. A discussion of and links to proposed regulations and draft IRS Form 8865 and instructions. [29K] Printed (pdf) version. [120K]
January 1997 Small Business Job Protection Act Eases S Corporation Rules. [45K]  Printed (pdf) version. [238K]
December 1996 IRS Adopts "Check-the Box" Classification Regulations. [19K]  Printed (pdf) version. [312K]
June 1996 IRS Proposes "Check-the-Box Classification Regulations [13K]  Printed (pdf) version. [266K]

General Tax Bulletins

February 2013 Qualified Small Business Stock Developments [11K] and Tax Return Preparer Litigation [9K] and Printed, pdf version. [137K]
November 2010 New IRS Reporting Required in Early 2011 for 2010 Exercises of Incentive Stock Options and Transfers of Stock Purchased Under ESPP. [7K] Printed, pdf version. [134K]
June 2010 July 21st Deadline for Therapeutic Discovery Grant or Tax Credit Applications [10K] and Recent IRS Rulings Clarify Tax Treatment of Registered Domestic Partners [8K] and Printed, pdf version. [188K]
March 2010 Codification of the Economic Substance Doctrine: Bright Lines May Create New Uncertainties for Tax-Sensitive Transactions. [14K] Printed, pdf version. [151K]
February 2010 President's Budget Seeks to Expand or Extend Several Business Tax Credits and Deductions. [7K] Printed, pdf version. [123K]
September 2009 September 16, 2009 Deadline for Advanced Energy Project Credit Applications. [8K] Printed, pdf version. [91K]
August 2009 Treasury Opens "Cash Grant Window" for Renewables. [9K] Printed, pdf version. [140K]
June 2009 Guidance on Energy Tax Credit Election. [17K] Printed, pdf version. [140K]
March 2009 IRS Provides Guidance on Deferred Compensation from Offshore Funds. [14K] Printed, pdf version. [143K]
November 2008 Energy Tax Highlights from the Economic Rescue Act [15K] and Offshore Deferred Compensation to be Taxable at Time of Vesting. [164K] Printed, pdf version. [212K]
March 2008 IRS 162(m) Ruling Requires Review of Incentive Pay Arrangements. [9K] and Supreme Court Decision May Spur Individual and Class Actions Against ERISA Fiduciaries for Defined Contribution Plans. [14K] Printed, pdf version. [229K]
September 2007 District Court Holds Tax Accrual Workpapers Are Protected by the Work Product Privilege. [13K] and IRS Extends Deadline for Some, But Not All, Section 409A Document Compliance Amendments. [21K] Printed, pdf version. [232K]
December 2005 The Domestic Production Activities Deduction—Proposed Regulations Under Section 199. [46K] Printed, pdf version. [217K]
October 2005 Discussing the proposed regulations under section 409A (deferred compensation) and containing Proposed Section 409A Regulations Provide Increased Flexibility for Nonqualified Deferred Compensation Plans [39K]. Stock Compensation Provisions in Proposed Section 409A Regulations [15K]. Proposed Regulations Clarify Application of Section 409A to Foreign Benefit Arrangements [13K]. Printed, pdf version. [219K]
June 2005 New Rules Governing Written Tax Advice. [9K] Printed, pdf version. [183K]
January 2005 2004 Jobs Act: Overhaul of Tax Shelter Rules. [12K] Printed, pdf version. [110K]
October 2004 New Tax Law Brings Broad Changes to Nonqualified Deferred Compensation Arrangements. [30K] Printed, pdf version. [169K]
August 2003 Proposed Changes in Accounting Treatment of Stock Options Prompt Review of Stock Plan Design. [12K] Printed, pdf version. [473K]
August 2002 Crackdown on Tax Shelters: Current Enforcement Efforts and Calls for Reforms. [35K] Printed, pdf version. [529K]
May 2002 Victims of Terrorism Tax Relief Act Encourages Disaster Relief by Employers and Charities. [19K] Printed, pdf version. [476K]
September 2001 Guidance for Qualified Plans Regarding the 2001 Tax Act and Determination Letter Filings. [10K]  Printed, pdf version. [473K]
July 2001 New Tax Law: Benefit Plan Sponsors Have New Choices and Obligations. [14K]  Impending August 7, 2001 Change to Backup Withholding Rate. [3K]  Printed, pdf version. [490K]
May 2001 Impending May 16, 2001 Deadline for Amendments of Certain Rabbi Trusts. [9K]  Printed (pdf) version. [75K]
February 2001 Federal and New York State Tax and Employer-Related Liens. [131K]  Printed (pdf) version. [272K]
September 1998 Qualified Small Business Stock Update. [22K]  Printed (pdf) version. [93K]
August 1998 Internal Revenue Service Restructuring and Reform Act of 1998. [111K]  Printed (pdf) version. [213K]

State & Local Tax Bulletins

December 2016 Ohio Supreme Court Finds Quill Does Not Apply to the Commercial Activity Tax. [11K] California Cities to Tax Streaming Video?. [34K] Printed, pdf version. [329K]
March 2015 San Francisco Gross Receipts Tax: New Regulations Impact Returns Originally Due March 2, 2015. [24K] Franchise Tax Board California Competes Tax Credit Review Procedures. [17K] Printed, pdf version. [365K]
December 2014 Court of Appeal Holds Transfer Tax Applies to Legal Entity Changes in Ownership. [15K] What Every Trusts and Estates Attorney Should Know About Changes in Ownership. [46K] Printed, pdf version. [337K]
July 2014 United States Supreme Court to Review Direct Marketing. [10K] Ocean Avenue v. County of Los Angeles and AB 2372. [8K] Printed, pdf version. [229K]
April 2014 Federal Rule and Ninth Circuit Opinion Create Huge Opportunities on Indian Land. [14K] Lingering Questions About the San Francisco Gross Receipts Tax. [65K] Printed, pdf version. [372K]
March 20, 2014 Update: California Competes Tax Credit Application Period Ends April 14, 2014. [4K]
February 2014 February 18th Deadline for Comments on California Competes Tax Credit Regulations. [7K] Deadline Approaching for California's New Employment Credit. [26K] Printed, pdf version. [255K]
December 2013 GO-Biz Releases California Competes Tax Credit Draft Proposed Regulations. [25K] Printed, pdf version. [203K]
October 2013 California Reinstates Qualified Small Business Stock Benefits. [4K] Printed, pdf version. [153K]
January 2011 Governor Brown's 2011-2012 California Budget Tax Proposals. [5K] California Franchise Tax Board—Mere Ownership of Disregarded Entity Creates Franchise Tax Nexus. [6K] Printed, pdf version. [137K]
November 2010 California Franchise Tax Developments—Fall 2010. [82K] Printed, pdf version. [351K]
October 2010 Tax Provisions of the 2010-2011 California Budget. [10K] Printed, pdf version. [141K]
June 2010 California Franchise Tax Developments—Spring 2010. [83K] Printed, pdf version. [348K]
May 2010 Understanding the Types of Penalties that States May Impose, Potential Relief and Constitutional Considerations. [46K] Printed, pdf version. [253K]
December 2009 California Ballot Measures Would Cut Proposition 13 Protection for Commercial Properties. [11K] Printed, pdf version. [127K]
October 2009 California Franchise Tax Developments—Fall 2009. [76K] Printed, pdf version. [320K]
August 2009 California Property Tax Alert: Impending Deadlines for 2009 California Property Tax Savings. [6K]
July 2009 California to Issue Registered Warrants–Implications for Financial Institutions and the State's Creditors. [17K] Printed, pdf version. [153K]

June 2009 California Limits Tax Credit Utilization, But Allows Assignment to Unitary Affiliates. [18K] Printed, pdf version. [139K]
May 2009 California Suspends Net Operating Loss Deduction. [9K] Guidance on California's New 20 Percent Corporate Understatement Penalty. [11K] Printed, pdf version. [194K]
April 2009 California Franchise Tax Developments—Spring 2009. [70K] Printed, pdf version. [259K]
March 2009 Tax Provisions of California Budget Bills. [19K] California Franchise Tax Board Releases Draft FAQs for New 20 Percent Corporate Understatement Penalty. [9K] Printed, pdf version. [186K]
February 2009 California Franchise Tax Developments—Winter 2009. [74K] Printed, pdf version. [280K]
November 2008 California Franchise Tax Developments—Fall 2008. [80K] Printed, pdf version. [292K]
October 2008 California Imposes New 20 Percent Understatement Penalty on Corporate Taxpayers. [6K] Bundled or Embedded Applicational Software Is Not Subject to Personal Property Tax. [6K] Printed, pdf version. [178K]
November 2007 California Franchise Tax Developments—Fall 2007. [72K] Printed, pdf version. [310K]
October 2007 California Franchise Tax Developments—Spring 2007. [76K] Printed, pdf version. [309K]
March 2006 DC Court Strikes Down Unincorporated Business Franchise Tax on Nonresident Individuals in Bender v. District of Columbia. [9K] San Francisco Court Rules California LLC Tax Unconstitutional. [7K] Printed, pdf version. [163K]
November 2005 Franchise Tax Board's Attempt to Apply Expense Attribution is Soundly Rejected. [10K] Printed, pdf version. [115K]
October 2005 California Franchise Tax Developments—Fall 2005. [51K] Printed, pdf version. [264K]
June 2005 California Franchise Tax Developments. [52K] State Tax Implications of Repatriation of Foreign Earnings. [9K] Printed, pdf version. [306K]
April 2005 California Franchise Tax Developments. [40K] Printed, pdf version. [234K]
January 2005 California Tax Amnesty … Not?. [46K] Printed, pdf version. [177K]
November 2004 California Franchise, Income and Sales and Use Tax Developments. [34K] Printed, pdf version. [190K]
June 2004 Current Developments in Property Taxation. [26K] Printed, pdf version. [178K]
May 2004 Current California Franchise Tax Developments. [32K] California Franchise Tax Administrative Procedures. [24K] California Tax Shelter Rules. [47K] Printed, pdf version. [385K]
August 2003 Prompt Action Required to Avoid Overwithholding for New York Nonresident Partners. [6K] Legislation Permits Sales and Use Taxpayers to Self-Audit under California's Managed Audit Program. [10K] California Responds to Abusive Tax Schemes. [12K] Printed, pdf version. [511K]
January 2003 California Income Tax Developments. [11K] Supreme Court Reverses Court of Appeals in Geneva Towers. [9K] Printed, pdf version. [503K]
November 2002 Streamlined Sales and Use Tax System: Adoption of Landmark Multistate Agreement. [22K] Printed, pdf version. [498K]
June 2002 Is Cessation of a Business Every State's Business or … ?. [43K] Printed, pdf version. [519K]
May 2002 California Property Tax Alert: September 15th Deadline for Proposition 8 Property Tax Savings [8K] Printed, pdf version. [138K]
May 2002 California Manufacturers' Investment Credit [33K] and California Begins Taxing Workers' Compensation Deductibles [6K] Printed, pdf version. [505K]
November 2001 E-Commerce: United States Sales and Use Tax Considerations. [25K] Printed, pdf version. [511K]
October 2001 Preston v. State Board of Equalization–Application of the California Sales Tax to Intangibles. [28K] Printed, pdf version. [504K]
September 2001 State Sales Tax Treatment of Bundled Transactions Involving the Purchase of Discounted Cellular Phones and Telecommunications Services. [25K] Printed, pdf version. [484K]
August 2001 State & Local Tax Update – Western Region. [94K] Printed, pdf version. [604K]
July 2000 Recent Legislative Changes May Reduce Potential California Transfer Tax Liability. [26K] Appellate Court Rules on Timing of Tax Refund Suit. [5K] Federal and California Internet Tax Freedom Acts. [6K] Solar Energy Credit Limitation Affirmed. [4K] Printed, pdf version. [127K]
February 2000 California's Interest Offset Provision Found Unconstitutional. [4K] New Independent Contractor Reporting Begins in 2001. [3K] San Francisco Business and Payroll Taxes under Attack. [3K] Printed (pdf) version. [61K]
December 1998 Separate Company Tax Credit Limitation, dealing with the Atkinson case. [23K]  Interest Offset Survives Round Two. [4K]  Printed (pdf) version. [100K]
August 1997 Preserving Witness Testimony Under Section 2035 of the California Code of Civil Procedure. [16K] Upcoming Developments in California Unitary Taxation. [3K]  California Supreme Court Allows Legislature to Circumvent Proposition 13 Regarding New Taxes, a discussion of the California Supreme Court's Sinclair Paint decision. [21K]  Printed (pdf) version. [136K]
December 1996 California Voters Approve Proposition 218. The California electorate adopts yet another tax limitation initiative. [16K]  Printed (pdf) version. [256K]
March 1996 Impending March 15, 1996 Deadline for Calendar Year Issuers of California Qualified Small Business Stock. [9K]  Printed (pdf) version. [194K]
February 1996 Public Law 104-95. The federal government prohibits state income taxation of certain pension income of nonresidents received after December 31, 1995. [12K]  Printed (pdf) version. [225K]
September 1995 Beck Electric Supply Company. The California State Board of Equalization holds that failure to comply with common carrier exemption requirements does not preclude qualifying for the sale for export exemption from California sales tax. [20K]  Mobile M.R. Inc. The California State Board of Equalization holds that California use tax is inapplicable where a taxpayer's use of property in the state is de minimis. [16K]  Cases to Watch. Upcoming developments in California unitary taxation. [4K]
February 1995 Navistar International Transportation Corporation. The California Supreme Court holds that trade secrets recorded on paper are tangible personal property subject to sales tax. [31K]  Proposed California Regulation § 19141.6. The Franchise Tax Board proposes new record-keeping requirements. [45K]
August 1994 U.S. Supreme Court Barclays Bank Decision. The United States Supreme Court upholds California's worldwide combined reporting methodology. [14K]  California's Position on Recovery of Water's Edge Election Fees. California's Franchise Tax Board asserts that challenges to the State's water's edge election fees must be through claims for money damages and not claims for refund. [10K]  Start-Up Manufacturing & Research Property Sales Tax Exemption. An analysis of a California State Board of Equalization proposed regulation interpretting a sales and use tax exemption for certain start-up businesses. [34K]

Exempt Organizations Bulletins

May 2006 IRS Reminds Large Exempt Organizations of Electronic Filing Requirement for May 15 Deadline. [4K]
June 2005 Favorable Settlement in First "Intermediate Sanctions" Case to Reach IRS Appeals. [3K]
February 2001 Treasury Regulations Implement "Intermediate Sanctions". [9K]  Tax-Exempt Organizations Subject to Increased Disclosure Requirements. [9K]  Printed (pdf) version. [97K]

Employment Tax Bulletins

September 2011 IRS Implements Voluntary Program for Reclassifying Workers [11K] Printed (pdf) version. [206K]
May 2011 Worker Misclassification Penalties Likely to Increase as IRS Audits More Employers [18K] and Ten Steps to Reduce Future Exposure on Employee Misclassification and Similar Issues. [6K] Printed (pdf) version. [227K]
September 2010 IRS Employment Tax Audits: Spotlight on Worker Classification and Deferred Compensation Arrangements [13K] Printed (pdf) version. [171K]
August 2010 Changes Likely for Section 530 Relief in Employee vs. Independent Contractor Classifications [10K] and IRS Will Scrutinize Fringe Benefits During Employment Tax Audits. [8K] Printed (pdf) version. [200K]
July 2010 Increased IRS Scrutiny of Worker Classifications. [9K] Printed (pdf) version. [140K]
November 2009 IRS Announces Employment Tax National Research Program. [9K] Printed (pdf) version. [142K]

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