Surprised by proposal, scientific experts to ask agency chief to wait for their feedback before finalizing rule

New uses would be restricted, but industry’s current use of carcinogenic mineral can continue

Group of surfactants linked to toxicity in aquatic organisms

Surprised by proposal, scientific experts to ask agency chief to wait for their feedback before finalizing rule

U.S. tariffs target large-volume chemicals, and China responds in kind

French pharmaceutical services firm is latest to move into the U.S.

ATSDR daily dose numbers for PFOS and PFOA are one-tenth those of EPA

Food regulation, graduate education among changes put forward

4 high school students will head to Slovakia and Czech Republic in July for international competition

Chair departs, investigators leave, staff fears changing mission

His efforts to weaken pollution controls expected to endure

Current district judge is viewed as reliably conservative, deferent to presidential power

His efforts to weaken pollution controls expected to endure

Numerous basic inputs may be hit with a 10% import tax as trade war intensifies

Chair departs, investigators leave, staff fears changing mission

Congressional committee votes to give industry and other agencies greater input and to shift responsibility for IRIS program from research office

Winning streak continues as high school students turn in a top performance for the second year in a row

Winning streak continues as high school students turn in a top performance for the second year in a row

Individuals moving between Canada and the United States face a daunting array of Canadian and U.S. tax issues, particularly when the move is due to an employment-related transfer. This book provides an overview of key taxation principles related to employment both in Canada and in the United States, and highlights the interaction between the tax laws of these two countries. For employers, this book offers practical guidance on tax issues for the purpose of managing expatriate costs, designing an effective cross-border employee relocation program and retaining key employees.

Key Topics include:

• Overview of the Canadian and U.S. personal tax systems
• Tax reimbursement programs, including sample tax equalization calculations
• Foreign tax credits and tax relief available under the Canada-U.S. tax treaty
• The implications of changes under the fifth protocol to the Canada-U.S. treaty which entered into force on December 15, 2008
• Investments in partnerships, limited liability companies, and other entities
• Taxation of artists and athletes
• Estate planning, including U.S. estate tax issues
• Executive compensation, including various types of equity compensation and long-term incentive plans available
• Expanded discussion on the U.S. deferred compensation rules 

About the Author

Benita Loughlin, CA, is a Partner in the International Executive Services practice at KPMG LLP in Vancouver, B.C. She specializes in tax planning and compliance for individuals, estates and trusts in a U.S. and cross-border context. She advises executives and their employers on tax matters related to compensation, investments, retirement plans, estate planning, and expatriation, with emphasis on employees relocating to or from other countries. The book includes contributions from KPMG International Executive Services professionals in Vancouver who specialize in helping clients manage complex personal tax issues in a cross-border environment. KPMG’s multinational corporate clients face challenges managing tax issues that affect their global workforce. Executives and employees rely on KPMG’s international tax planning to help manage their tax liabilities and maintain their global workforce.

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The U.S. Master Tax Guide, 2013 Legislative Update provides tax professionals with explanations of the key components of late-breaking legislation including the American Taxpayer Relief Act of 2012. The provisions, whether impacting individuals, families or business, are succinctly explained and generously complemented with cautions, examples and comments. Moreover, the effective dates of these wide-ranging provisions are clearly set out. All explanations will be keyed to the corresponding discussions in the 2013 U.S. Master Tax Guide.

Related Products of Interest

- U.S. Master Tax Guide + the Legislative Update Combo
- U.S. Master Tax Guide (2013)

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The 2010 CCH GAAP Guide, Volumes I and II, is the perfect bridge between the existing GAAP hierarchy and the new FASB Codification. This new two-volume set’s pre-/post-Codification dual-reference system, detailed cross-reference table, and index help you quickly locate the information you need in the way you are most comfortable with. Content is current and authoritative — written by leaders in the field, with analysis, practice pointers and illustrations to filter the complexities.

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• Changes to the “tie-breaker” rule for determining the residence of a corporation that qualifies as a resident of both Contracting States
• Entitlement to Treaty benefits for “fiscally transparent entities”
• New permanent establishment rules
• Elimination of withholding tax on certain interest payments
• Taxation of a non-resident’s emigrant gains
• Taxation of “income from employment” earned by non-residents
• Taxation of stock options received by individuals employed in both Canada and the United States
• Introduction of a reciprocal limitation of benefits provision

• Annotations of related Dominion Tax Cases
• Memorandum of Understanding between the Competent Authorities of Canada and the United States Regarding the Mutual Agreement Procedure
• Agreement between the Government of Canada and the Government of the United States of America with Respect to Social Security
• Income Tax Conventions Interpretation Act
• Rates of Withholding Tax under Income Tax Agreements Signed by Canada

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Available: November 2010

This book reflects all pertinent federal taxation changes that affect 2010 returns and provides fast and reliable answers to tax questions affecting individuals and business income tax.

The 2011 MTG contains timely and precise explanation of federal income taxes for individuals, partnerships, corporations, estates and trusts, as well as new rules established by key court decisions and the IRS.  Significant new tax developments are conveniently highlighted and concisely explained for quick reference and understanding.  The handbook's explanations are meticulously researched and footnoted to provide tax practitioners with the most accurate and legally sound guidance to help them understand, apply and comply with today's complex federal tax laws.

This handbook is built for speed with numerous time-saving features, including a tax calendar, taxpayer-specific return flowcharts, lists of average itemized deductions, selected depreciation tables, rate tables, checklists of income, deduction and medical expense items, and more.  These features help users quickly and easily determine how particular tax items and situations should be treated and answer client questions.

It comes complete with the popular Quick Tax Facts card that can be detached for at-a-glance reference to key tax figures and other often referenced amounts used in preparing 2010 income tax returns, and a special bonus CPE course supplement entitled "Top Federal Tax Issues for 2011," which focuses in on the most significant and thorniest new tax developments affecting practitioners for the year.  The Top Federal Tax Issues Course allows professionals to earn CPE credit while keeping up-to-date on the most important tax issues (grading fee additional).

The 2011 U.S. Master Tax Guide's updated explanations cover:

• Highlights of New Tax Developments
• Tax Rates and Tax Tables
• Individuals
• Corporations
• S Corporations
• Partnerships
• Trusts and Estates
• Exempt Organizations
• Income
• Exclusions from Income
• Business Expenses
• Non-Business Expenses
• Losses and Bad Debt
• Depreciation, Amortization and Depletion
• Tax Credits
• Minimum Tax
• Tax Accounting
• Basis for Gain or Loss
• Sales, Exchanges and Capital Gains
• Installment Sales/Deferred Payment Sales
• Securities Transactions
• Tax Shelters/At-Risk Rules/Passive Losses
• Retirement Plans
• Corporate Acquisitions/Reorganizations
• Taxation of Foreign Activities/Taxpayers
• Returns and Payment of Tax
• Withholding and Estimated Taxes
• Examination of Return

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Available: July 2011

Authors: Robert Ricketts and Larry Tunnell

Discusses the complex issues involving partnership taxation with utmost clarity. It uses hundreds of illustrative examples, practice observations, helpful charts and insightful explanations to make even the most difficult concepts understandable. The book reflects the authors' penchant for communicating the pertinent facts in very direct language and creating a context for understanding the multifaceted issues and applying them to practice.

This new edition fully reflects all the latest developments in this complex area. These include changes affecting:

• partnership basis adjustments
• transfers to partnerships of property with built-in losses
• sale of an interest in a partnership with built-in loss property
• disproportionate distributions from partnerships with built-in loss property exp
• ensing and amortization of partnership organizational expenses
• partnership treatment of the deduction for domestic production activities
• recognition of cancellation-of-indebtedness income, and more

In six parts, Practical Guide to Partnerships and LLCs covers the critical aspects of this complicated area, with individual parts focusing on partnership characteristics, funding, taxation of operations, partner's share of partnership debt, disposition of partnership interest, and distributions. From choice-of-entity considerations to sales and liquidations, the entire breadth of partnership and LLC taxation is covered. Special attention is given throughout to the complex inter-workings of rules that bind, tax and control these entity operations.

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The CCH Learning Center offers a complete line of current, comprehensive, interactive continuing professional education courses on US subject. With the CCH Learning Center you choose when and where you complete your credit requirements.

CCH Learning Center courses are issued in real-time, with 24-hour access, immediate exam results, certification and technical support responses. Web-based delivery allows course updates to be made immediately, giving you instant access to the most current and complete information available. Practitioners can use the online courses to review changes in federal and state law, investigate a new client's industry, update materials for a business presentation and of course, to earn CPE credit – all at the CCH Learning Center.

Resources

Complete list of courses

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The taxation of natural resources is one of the more complicated areas of the U.S. federal income tax system. From the acquisition of the mineral rights, to the exploration and development of the property, to the ultimate production of the mineral, there are unusual and challenging tax aspects along every step of the way.

Oil and Gas: Federal Income Taxation (2011) is an invaluable single-source handbook for accounting, tax and legal practitioners concerned with financial issues related to oil and gas industry tax law.  

Updated and revised by noted oil and gas taxation authority and educator, Patrick A. Hennessee, Ph.D., CPA , this detailed reference is divided into six main sections:

• Introduction to Oil and Gas Taxation
• Acquisition of Interests
• The Exploration Period
• The Production Period
• Dispositions
• Other Areas

The text begins with a discussion of the nature of oil and gas reserves in order to gain a better understanding of the industry. The material following is organized in a logical sequence of events which traces the normal industry pattern for developing oil and gas reserves.

Special features include:

• A special ''Highlights of New Developments'' section provides a convenient, at-a-glance summary of recent tax legislation, case law, rulings, position papers, etc., as they relate to the oil and gas industry, and it tells readers where in the volume they can find additional information on the specific topics.
• Reflects all the recent developments in place, including new legislation, regulations and case law changes impacting this area since the previous edition published, allowing tax and legal professionals to stay current on this highly specialized area of tax law.  
• Enables understanding of the myriad technical aspects of oil and gas taxation by thoroughly discussing the critical issues of:
  • economic interests
  • lease and purchase arrangements
  • royalties
  • working or operating mineral interest
  • production payments
  • net profits arrangements
  • geological and geophysical expenses
  • intangible drilling and development costs
  • sharing arrangements and carried interests
  • depletion
  • gross income from property
  • taxable income from property
  • unitizations
  • disposition of interests
  • nontaxable exchanges
  • losses and abandonments
  • types of ownership
  • alternative minimum tax
  • nonconventional fuel credit
  • depreciation
  • a

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Available: April 2011

Provides a thorough explanation of federal excise taxes and follows the style of the U.S. Master Tax Guide. This convenient reference serves as an indispensable resource for accountants and tax professionals who work in the increasingly important and complex area of excise taxes. The new edition fully reflects changes brought about by recent tax legislation, including the new indoor tanning services tax introduced by the Patient Protection and Affordable Care Act of 2010, the tax on medical devices introduced by the Health Care and Education Reconciliation Act of 2010, and the important extensions to various fuel production incentives made by the Tax Relief, Unemployment Reauthorization, and Job Creation Act of 2010, as well as new regulations, rulings, and significant court decisions.

Included in this handy quick reference are excise tax rate tables, a glossary of excise tax terms, a list of pertinent excise tax forms by subject matter and by number, an Internal Revenue Code section finding list, and handy checklists of taxed and non-taxed items.

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Available: August 2011

Authors: Dominic Daher, Joshua Rosenberg and Steve Johnson

Offers practitioners current and practical explanation and analysis on corporations, giving them the guidance needed to manage the C Corporation election, compliance, tax planning, and life cycle needs. In addition to thorough coverage of how the tax laws impact C corporations, the Practical Guide details corporate formation, distributions, redemptions, liquidations, reorganizations and issues related to corporate tax practice and procedure. Practical Guide to C Corporations provides business entity practitioners with complete coverage of C corporation taxation issues.

• Formation of a Corporation
• Application of Federal Income Tax to Corporations
• Nonliquidating Distributions
• Redemptions
• Liquidations and Partial Liquidations
• Acquisitive Corporate Reorganizations
• Procedural Aspects

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Available: September 2011 

Provides expanded coverage of financial and estate planning strategies for implementing individualized solutions for the special problems associated with retaining accumulated wealth for retirement and estate planning purposes. With its comprehensive two-part approach to the complex issues that link retirement planning and estate planning, this book includes coverage of such topics as the final minimum distribution rules for individual retirement accounts and qualified plan distributions, the use of insurance as a qualified plan asset, and changes in the law to reflect the latest legislation.

Replete with scores of examples that illustrate and analyze estate planning strategies and their effects, it brings insight and expertise to the realm of estate and retirement planning by focusing on the tax-free transfer of wealth and by providing an insider's view of the various retirement benefits available to the corporate executive under both qualified and non-qualified retirement plans.

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

Available: Late June 2012

Provides step-by-step guidance on the taxation of fiduciary income. This comprehensive guide for practitioners advising fiduciaries and beneficiaries in federal income tax matters covers the broad range of complex issues from charitable remainder trusts to nexus rules and their effect. Providing expert practical advice, this book helps the practitioner obtain the most advantageous outcomes for his/her fiduciary and beneficiary clients. Key feature: 35 case studies with filled-in forms 1041 and accompanying documents.

Volume 1:

1. Overview of the Fiduciary Entity
2. The Fiduciary (Trust) Accounting Concept; Total Return Investment Philosophy
3. Principles of Federal Income Tax for Fiduciaries
4. Itemized Deductions
5. Distributions
6. Capital Gains and Alternative Minimum Taxes, Accounting Periods and Special Rules
7. Estimated Taxes
8. Passive Activity Loss Limitations
9. Trusts: Formation to Termination
10. Charitable Remainder Trusts
11. Charitable Lead Trusts
12. Alternative Use of Grantor Trusts in Transactional Planning
13. Ownership of S Corporation Stock by Trusts--Emphasizing Qualified Subchapter S Trusts and the New More Flexible Electing Small Business Trust
14. Grantor Trust Rules
15. Foreign Trusts Treated as Grantor Trusts

Volume 2:

1.  Estates: Formation to Termination
2. Income Tax Aspects of Fiduciary Ownership and Administration of Family Limited Partnership (FLP) Interests
3. Income Tax Aspects of Generation-Skipping Transfers
4. State Taxation of Fiduciaries and Beneficiaries
5. Special Commercial Trusts
6. IRS Ruling Policy and Audits; Responsibility for Filing and Payment of Tax
7. Foreign Trusts and Estates

Related books:

• U.S. Master Estate and Gift Tax Guide (2013) 
• Family Foundation Handbook (2013) – U.S.
• Estate and Retirement Planning Answer Book, 2012 Ed. U.S.

 

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Available: October 2011

Formerly titled, the "Bank Tax Guide," the new U.S. Master Bank Tax Guide (2012) by noted bank tax expert, Ronald W. Blasi, J.D., LL.M., is a comprehensive desktop reference that covers all the tax rules for financial institutions and is the only book of its kind that is completely updated each year to reflect the latest changes through press time. This is the authoritative must-have guide for professionals charged with tax compliance for financial institutions.

It features special planning sections in each chapter, detailed discussions that are meticulously referenced to authority for additional research, potential IRS audit activities, and numerous practical examples that illustrate the rules and principles. The volume provides informative discussions on points of law where the courts and the IRS may not see eye-to-eye.

The key tax planning suggestions offered upfront in each chapter and meticulous footnotes to show authority throughout make the Guide's discussions a roadmap for further research. Helpful tables, charts, lists and examples reflect the author's penchant for illustrating the rules and principles in the most understandable way.

Organized for day-to-day use, but offering a depth of discussion that readers will want to read thoroughly, the U.S. Master Bank Tax Guide reflects the author's 30+ years of banking industry experience and his proficiency at teaching in both the law school and tax professional venues. This resource not only explains the fundamental tax rules and principles that apply to banks, it also identifies and guides the reader through the many opportunities and pitfalls that may be present. From choice of entity advantages and disadvantages and treatment of start-up costs to handling ordinary and necessary expense items and acquisition and expansion considerations, the Guide offers the practical guidance that all bank tax practitioners need, value and appreciate.

CONTENTS:

- Entities subject to bank tax rules
- Accounting for interest, fee and other income
- Discount, points and premium
- Securities dealers and investors
- Nonperforming loans
- Modified debt
- Foreclosures
- Business expenses
- Interest expense
- Bad-debt deductions
- Acquisitions
- Business tax credits

  

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Available: August 2011

Authors: Michael S. Schadewald, Ph.D., CPA and Robert J.Misey, Jr., J.D., MBA and LL.M.

Provides readers with a practical command of the tax issues raised by international transactions and how those issues are resolved by U.S. tax laws. The book emphasizes those areas generally accepted to be essential to tax practice.

The book is written primarily as a desk reference for tax practitioners and is organized into four parts.

Part I provides an overview of the U.S. system for taxing international transactions, and also discusses the U.S. jurisdictional rules and source-of-income rules.

Part II explains how the United States taxes the foreign activities of U.S. persons, and includes chapters on the foreign tax credit, deemed paid foreign tax credit, anti-deferral provisions, foreign currency translation and transactions, export tax benefits, planning for foreign operations, and state taxation of foreign operations.

Part III describes how the United States taxes the U.S. activities of foreign persons, including the taxation of U.S.-source investment-type income and U.S. trade or business activities, as well as planning for foreign-owned U.S. operations.

Finally, Part IV covers issues common to both outbound and inbound activities, including intercompany transfer pricing, tax treaties, cross-border mergers and acquisitions, and international tax practice and procedure.

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Available: September 2011

Author: William D. Mitchell, J.D.

Provides expanded coverage of financial and estate planning strategies for implementing individualized solutions for the special problems associated with retaining accumulated wealth for retirement and estate planning purposes. With its comprehensive two-part approach to the complex issues that link retirement planning and estate planning, Estate and Retirement Planning Answer Book (2012 Edition), includes coverage of such topics as the final minimum distribution rules for individual retirement accounts and qualified plan distributions, the use of insurance as a qualified plan asset, and changes in the law to reflect the latest legislation.

Replete with scores of examples that illustrate and analyze estate planning strategies and their effects, Estate and Retirement Planning Answer Book, 2012 Edition, brings insight and expertise to the realm of estate and retirement planning by focusing on the tax-free transfer of wealth and by providing an insider's view of the various retirement benefits available to the corporate executive under both qualified and non-qualified retirement plans.

Related Books:

• U.S. Master Tax Guide (2013) 
• Estate Planning (2013 Edition) (U.S.) 
• Family Foundation Handbook (2013) – U.S.

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Available: October 2010

Author: Glenn R. Carrington

Tax Accounting in Mergers and Acquisitions gives in-depth, practical coverage of today's key issues in corporate acquisitions, dispositions, reorganizations, and restructurings from a transactional perspective. It will help your client:

1. Decide if the transaction should be taxable or nontaxable.
2. Structure the deal for the best results-stock or asset acquisition.
3. Achieve desired business objectives.

This book considers the tax accounting implications of structuring and restructuring transactions including those described in Code 351 (Transfer to Corporation Controlled by Transferor), 338 (Certain Stock Purchases Treated as Asset Acquisitions), 381 (Carryovers in Certain Corporate Acquisitions), 721 (Nonrecognition of Gain or Loss on Contributions to a Partnership), and 1001 (Gain or Loss on Disposition of Property). It discusses the rules relative to a taxpayer’s ability to carry over methods of accounting, to obtain audit protection through filing accounting method changes, to preserve favorable methods of accounting, to determine the effect of the transaction on any unamortized Code 481(a) adjustments (Adjustments Required by Changes in Accounting Methods), and to use the chosen structure as a means of achieving appropriate tax accounting objectives. In addition, it describes some of the most common types of accounting method exposure items that arise during the course of due diligence and some of the alternatives for mitigating exposure to the buyer. Furthermore, it describes the most significant anti-abuse rules that prevent taxpayers from unreasonably taking advantage of these provisions. Finally, it addresses some of the pitfalls that taxpayers should take into account in structuring transactions. In addition to updates of all rulings, cases and legislation, the 2010 edition contains a new chapter on Bankruptcy.

Chapter 1       Taxable and Tax-Free Acquisitions
Chapter 2       Basic Concepts in Deductibility and Capitalization
Chapter 3       Accounting for Restructuring Transactions under Code §351, 338, 381, 721, and 1001
Chapter 4       Treatment of Contingent Liabilities
Chapter 5       Treatment of Transaction Costs Prior to the Final Capitalization Regulations
Chapter 6       Final Capitalization Regulations
Chapter 7       Debt Modifications in Connection with Mergers and Acquisitions
Chapter 8       Original Issue Discount (OID) in Mergers and Acquisitions
Chapter 9       Amortization of Intangibles under Code §197
Chapter 10     Limitation on Loss Carrybacks — Corporate Equity Reduction Transactions
Chapter 11     Consolidated Return Tax Accounting Issues
Chapter 12     Tax Accounting Issues in Bankruptcies and Work-outs

Related Books:

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