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An antibody called BAN2401 cleared amyloid-β proteins and slowed cognitive decline in people with mild Alzheimer’s disease

Diatom data in the Southern Ocean suggests human activity may have emitted more of the toxic metal than previously estimated

Recent work might have implications for drug development

OnePlus on Friday announced that its wireless earphones, the Bullets Wireless Z will be available for purchase starting 10 May 2020. OnePlus had launc

Tesla share price crashed after Elon Musk’s ‘costly’ tweet

Natural farming, termed Zero Budget Natural Farming in India, has been adopted by upwards of 972 villages.Will all of India's 650,000 villages take to it?Will all of India's 650,000 villages take to it?Sanjeeb Mukherjee examines the pros and cons.

The only reason why the Marazzo interests you is because your budget doesn't afford you the better MPV, the Toyota Innova and that's where Mahindra has played the masterstroke, the price, it fits right between the Ertiga and Innova and if you want an MPV in this price bracket, the Marazzo is just unbeatable.

The Glanza is clearly a rebadged Maruti Suzuki Baleno, however, Toyota has given it a longer warranty and a lower starting price to make it more attractive.Are there other compelling reasons to consider it over Baleno?

Although this segment has way too many offerings and the Jazz is one of the most expensive options, people looking for a reliable and spacious hatchback will not be disappointed by this vehicle.

Butterfly reorganizations are among the most complex subjects in Canadian tax. Be fully versed with the most comprehensive resource available. Now available online, use your subscription to:

• Search research content instantly
• Access your applicable CCH subscriptions; all integrated
• Save research to your electronic client files
• Enjoy access virtually anywhere

This third edition of Understanding Section 55 and Butterfly Reorganizations is an essential reference for tax and legal professionals specializing in mergers and acquisitions. This extensively revised edition is the definitive source for in-depth analysis and authoritative information, including:

• Various technical amendments released over the years that have altered the tax rules governing butterfly reorganizations.  
• Department of Finance comfort letters indicating Finance’s intention to propose additional changes to various aspects of section 55.
• Tax court decisions that have prompted the Canada Revenue Agency to change its interpretation of how section 55 applies in certain circumstances (e.g., in the calculation of safe income) and the meaning of certain terms in the tax law (e.g., "series of transactions", "in contemplation of").
• Current reorganization techniques, practical examples and case studies of butterfly reorganizations within Canada.

Understanding Section 55 and Butterfly Reorganizations, 3rd Edition provides a comprehensive analysis of section 55 in its entirety, including the calculation of safe income. Topics covered include:

• Subsection 55(2): The Basics
• Paragraph 55(3)(A) Exemption
• What Is a Butterfly?
• The Pro Rata Distribution Requirement
• The Butterfly Exemption Denial Rules
• Exceptions to the Butterfly Exemption Denial Rules and Various Interpretive Rules
• Related Issues

Rick McLean, CA, is a partner in the Mergers & Acquisitions Tax Services Group at KPMG LLP and leader of KPMG’s Corporate Reorganizations Tax practice in Toronto.  Rick specializes in and has extensive experience in structuring Canadian and international mergers, acquisitions, divestitures and corporate reorganizations, including public company spin-off transactions. Rick advises both public and private companies on M&A and corporate reorganization tax issues. The book includes contributions from KPMG Tax professionals across Canada who specialize in providing tax advice on complex corporate reorganization and M&A transactions.

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Published December 2011

Implementing Estate Freezes provides expert, yet highly practical guidance on implementing estate freezes. The author, David Louis, C.A., LL.B. of Minden Gross LLP., is one of Canada's most respected tax commentators. It's an essential addition to the library of all estate planners!

Topics covered:

• Transferring Assets
• Internal and Holding Company Freezes
• Corporate Estate Freezes – Technical Issues
• Alternative Methods and Variations
• Capitalization Considerations and Shareholders Provisions for Estate Freezes
• Estate Freeze Work Sheets
• Section 85 Basics
• Valuation Issues
• Use of a Trust to Hold Common Shares
• Checklist for Section 85 Rollovers
• Control of the Corporation
• Paid-up Capital
• Section 86 Freezes
• Section 51 Freezes
• Stock Dividend Freezes
• Personal, Trust, and Corporate Attribution Rules
• Distributions from a Family Trust
• GAAR
• 'Melts', 'Thaws', 'Gels', and 'Refreezes'
• Shareholders' Agreements
• Redemption Rights
• Retraction Rights
• Family Law Issues
• Accounting Considerations

Features include:

• An appendix containing an extensive case study, "Inter Vivos Trusts - Current Tax Issues", that highlights potential complications, not only with regard to income tax, but also with regard to family law, trust law, corporate law, and cross border taxation issues
• Diagrams, charts, checklists, and precedents that will be valued by both novice and seasoned practitioners alike

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Published: 2001

Bennett's A-Z Guide to Bankruptcy: A Professional's Handbook provides a review of the bankruptcy process for lawyers, accountants, trustees, lenders, individuals, small business debtors, and corporations. This handy bankruptcy primer is written in clear and accessible language and includes a chapter of forms and precedents, legislation excerpts, and a glossary in order to provide the reader with a general outline of the bankruptcy process.

Topics covered:

• What is bankruptcy?
• What are the ways to go bankrupt?
• What property can you keep?
• Can creditors sue you after bankruptcy?

If you would like more details about this product, or would like to order a copy online, please click here.

The University of Chicago Law School held its 64th Annual Federal Tax Conference at the business school’s Gleacher Center on a memorable date: 11/11/11. Published exclusively each year in the special March Issue of Taxes—The Tax Magazine are the papers presented at this prestigious conference.

• The Past and Future of the Foreign Tax Credit (By Philip R. West and Amanda P. Varma)
• PFICs (By Kimberly S. Blanchard) discussing the policy and purpose of the PFIC rules and suggesting ways in which the PFIC rules could be made more workable by IRS guidance.
• Mayo Deference Examined Under the Six-Year Statute of Limitations Cases—A Proposal for a Constitutionally Sound Allocation of Lawmaking Authority (By Irving Salem) discussing the proper role of judicial deference to the agency.
• Updating the Tax-Free Reorganization Rules—Attributes, Overlaps and More (By Michael L. Schler, Eric Solomon, Karen Gilbreath Sowell, Jonathan J. Katz and Gary Scanlon) analyzing tax-free reorganization rules.
• To Err is Human; to Rescind, Divine (By Philip B. Wright) examining the role of rescission and other remedies to retroactively alter the tax consequences of a prior transaction.
• The Mysterious Case of Disappearing Debt in Partnership Transactions (By Phillip Gall and Franny Wang) analyzing the five primary cases of disappearing debt in partnership transactions.
• Employee Benefits Corner (by By Elizabeth Thomas Dold and David N. Levine) covering all types of employee benefits, including qualified plans, IRAs, governmental plans, nonqualified deferred compensation plans, and health and welfare plans.
• The Estate Planner (By Lewis Saret) examining the tax and legal aspects of trusts and estates and significant current developments
• International Tax Watch (By Stewart R. Lipeles, John D. McDonald) looking at the world of tax beyond the U.S.
• Tax Practice (By William D. Elliott) focusing on tax practice and procedure issues.
• Tax Trends (By Mark Luscombe) keeping you up-to-date on the latest trends in the tax world.

Special Feature:

• Unwinding or Rescinding A Transaction: Good Tax Planning or Tax Fraud (by Sheldon I. Banoff). In the seminal 1984 article, Shelly examines when unwinding, rescission or substantial modification will be respected for federal tax purposes.

If you would like more details about this product, or would like to order a copy online, please click here.

Personal income tax return preparation is faster and better when you have your clients’ information ahead of time. This tax season, get a running start and stay ahead of the game with Taxprep T1 Tax Organizer from CCH Canadian. The first of its kind in Canada, this innovative solution improves efficiency and T1 results through pre-filled Microsoft Excel® questionnaires that integrate perfectly with Taxprep and make it so easy for clients to complete and return their tax information.

Outstanding benefits for you and your clients

• Significant time savings. Taxprep T1 Tax Organizer is populated with data from the previous income tax year, so it takes only seconds to generate the Microsoft Excel questionnaires and a few minutes for your clients to complete them. The paperless version saves even more time by significantly reducing data entry.
• Enhanced T1 accuracy. Taxprep T1 Tax Organizer is updated each year to include any new claimable items, making it easier to capture changes in your clients’ tax situation. Rolled forward information further ensures you’re working with the right data while the digital version’s automatic import function, combined with a form to review client information, helps to reduce data errors.
• Improved client service. Having your clients’ information in advance gives you more time to review their information, helping you maximize claims and ensure you have all the documents you need for immediate filing. The end result: better service for your clients and a less stressful tax season for you and your staff.
• Reduced printing and mailing costs. Taxprep T1 Tax Organizer works with CCH Portal, a leading edge web-based solution where you and your clients can securely upload and download tax questionnaires and other client files including tax returns. Users of the print version save too, thanks to double-sided forms and single-package mailing for families.
• Flexible questionnaires. Organizer questionnaires are available in short or long versions to suit each client’s preference. You can also custom-design templates to exclude certain sections or to add your firm’s logo, special
  
  instructions and questions.
• Flexible output options. Questionnaires can be distributed in electronic or print format directly from Personal Taxprep. Digital versions can be downloaded, completed and submitted by clients via CCH Portal.* Print organizers include address sheets that fit standard two-window mailing envelopes.
• Seamless integration with Taxprep. Personal Taxprep aut

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  Full Article
  
  

Steven D. Simpson, J.D., LL.M

Provides a detailed analysis of the federal tax laws affecting tax-exempt organizations and the tax treatment of donors to such organizations. It offers expert guidance to tax-exempt organizations and their tax advisors on the tax compliance issues they confront on a daily basis and the preparation of the various tax forms they must file with the IRS. It offers unique insight into four key areas:

• tax law and the rules that govern compliance
• reporting requirements
• compliance steps, choices and mechanisms
• accounting.

CONTENTS:

1. Introduction to Tax-Exempt Organizations
2. Distinctions Between Private Foundations and Public Charities
3. Organizational and Operational Considerations
4. Private Inurement, Private Benefit, and Intermediate Sanctions
5. Engaging in a Trade or Business and Income from an Unrelated Trade or Business
6. Political and Legislative Activities of Public Charities
7. Private Foundation Excise Taxes
8. Exemption Application Procedures
9. Annual Returns and Disclosure Requirements
10. Charitable Contribution Deduction Requirements and Information for Donors
Appendix A: Sample Form 1023 and Accompanying Documents
Appendix B: Sample Form 1024 and Accompanying Documents
Appendix C: Sample Forms 990, 990-PF, and 990-T
Appendix D: Publication 557
Appendix E: Publication 3833

Related Products

Form 990 Compliance Guide, 2014
U.S. Master Tax Guide (2015)
INTERNAL REVENUE CODE: Income, Estate, Gift, Employment and Excise Taxes (Winter 2015 Edition)
Income Tax Regulations (Winter 2015 Edition), December 2014 (U.S.)
State Tax Handbook (2015)

If you would like more details about this product, or would like to order a copy online, please click here.

Provides a detailed analysis of the federal tax laws affecting tax-exempt organizations and the tax treatment of donors to such organizations. It offers expert guidance to tax-exempt organizations and their tax advisors on the tax compliance issues they confront on a daily basis and the preparation of the various tax forms they must file with the IRS. It offers unique insight into four key areas: tax law and the rules that govern compliance; reporting requirements; compliance steps, choices and mechanisms; and accounting.

CONTENTS:
1.    Introduction to Tax-Exempt Organizations
2.    Distinctions Between Private Foundations and Public Charities
3.    Organizational and Operational Considerations
4.    Private Inurement, Private Benefit, and Intermediate Sanctions
5.    Engaging in a Trade or Business and Income from an Unrelated Trade or Business
6.    Political and Legislative Activities of Public Charities
7.    Private Foundation Excise Taxes
8.    Exemption Application Procedures
9.    Annual Returns and Disclosure Requirements
10.    Charitable Contribution Deduction Requirements and Information for Donors

Appendix A: Sample Form 1023 and Accompanying Documents
Appendix B: Sample Form 1024 and Accompanying Documents
Appendix C: Sample Forms 990, 990-PF, and 990-T
Appendix D: Publication 557
Appendix E: Publication 3833

Available: April 2012

Provides a detailed analysis of the federal tax laws affecting tax-exempt organizations and the tax treatment of donors to such organizations. It offers expert guidance to tax-exempt organizations and their tax advisors on the tax compliance issues they confront on a daily basis and the preparation of the various tax forms they must file with the IRS. It offers unique insight into four key areas: tax law and the rules that govern compliance; reporting requirements; compliance steps, choices and mechanisms; and accounting.

CONTENTS:
1. Introduction to Tax-Exempt Organizations
2. Distinctions Between Private Foundations and Public Charities
3. Organizational and Operational Considerations
4. Private Inurement, Private Benefit, and Intermediate Sanctions
5. Engaging in a Trade or Business and Income from an Unrelated Trade or Business
6. Political and Legislative Activities of Public Charities
7. Private Foundation Excise Taxes
8. Exemption Application Procedures
9. Annual Returns and Disclosure Requirements
10. Charitable Contribution Deduction Requirements and Information for Donors

Appendix A: Sample Form 1023 and Accompanying Documents
Appendix B: Sample Form 1024 and Accompanying Documents
Appendix C: Sample Forms 990, 990-PF, and 990-T
Appendix D: Publication 557
Appendix E: Publication 3833

Related books:

• Form 990 Compliance Guide, 2012

 

If you would like more details about this product, or would like to order a copy online, please click here.

Product description:  

Schwarz on tax treaties is the definitive analysis of tax treaties from a UK perspective and provides in depth expert analysis of the interpretation and interaction of the UK's treaty network with EU and international law in their application to UK tax law.

Contents include: 

• The legal framework: international law
• The legal framework: European Union law
• The legal framework: United Kingdom Law
• Interpretation of tax treaties
• Scope of tax treaties: taxes covered and territorial scope
• Access to treaty benefits: personality, fiscal domicile and nationality
• Permanent establishment
• Distributive provisions of income tax treaties
• Business profits
• Income from property
• Employment and pensions
• Capital gains
• Other income and miscellaneous cases
• Treaties and European tax directives
• Elimination of double taxation
• Non-discrimination
• Treaty shopping and other avoidance
• Administration of tax treaties
• Disputes and mutual agreement procedure
• EU arbitration convention
• International administrative cooperation

This third edition significantly expands the earlier work with enhanced commentary and is updated to include the latest UK treaty developments, international and EU law including:

• New Bilateral double tax treaties and protocols between the United Kingdom and China, India, Ethiopia, Liechtenstein, the Netherlands, Spain, Barbados and others
• Administrative cooperation agreement with Switzerland
• FATCA agreement with the United States and FATCA type agreements with the Channel Islands and the Isle of Man
• Bank levy treaties with Germany and the Netherlands
• Judicial decisions of United Kingdom and foreign courts on UK treaties
• Latest treaty anti-abuse and limitation of benefit articles
• Impact of the GAAR introduced by Finance Act 2013 on tax treaties
• New OECD Model Article 7 profit attribution in UK treaties

Case law developments including:

• US tax court in Retief Goosen
• Court of Appeal on Anson, Ben Nevis and FCE Bank
• Haseldine, HSBC Holdings and Bank of New

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  Full Article