 |
 |
 |
 |
 |
|
Tax Roundtable Oct 15-17, 2007-- Hyatt Riverfront Hotel - Jacksonville FL part of the SGA Fall Leadership Conference Discussion Topics and Presentations 1) Proposed Tangible Property Regulations - Likely Treasury will repropose in whole or in part ? 2) New IRS Industry Issue Focus Program 3) Renewed IRS focus on Section 118 - Contributions in Aid of Construction: IRS is interpreting narrowly 4) Simplified Service Cost Method (Sec. 263A) - Continued Uncertainty 5) Casualty Loss Deduction and the Repair Deduction 6) Abandonment Losses - May not be able to deduct if there is a specific rate recovery mechanism 7) Implementation of Section 263A re “soft costs” on self-constructed assets 8) Form 1099 Filings - based upon the fair market value of free gas (or reduced cost gas versus the amount paid) in connection with farm taps or similar type taps. 9) Enhanced preparer penalties imposed at the taxpayer level by the Small Business and Work Opportunity Tax Act of 2007 For instance, as penalties may be imposed at the taxpayer level, would staff or management be at risk. If so, would the company or the management and staff be responsible should penalties be imposed? Do we have insurance which would cover such instances? 10) FIN 48 11) Tax implications related to Stock Compensation – FAS123(R)
Pat Downey This page updated: July 23, 2007 |