TCJA Section 13521 reverses the effects of IRS
Revenue Ruling 2009-13 for life settlement transactions entered into after Aug.
In
Revenue Ruling 77-17, the IRS addressed the treatment of losses that result from fraudulent activities.
Revenue Ruling 2010-5 allows disclosure of taxpayer names and type of services provided by a preparer to the extent necessary to obtain professional liability insurance coverage, including obtaining price quotes for coverage.
Revenue Ruling 2009-13 indicates that cost of insurance must be subtracted from the total premiums paid to determine basis.
Section 401(a) of the Internal Revenue Code requires that, to qualify for pension plan tax breaks, an employer-sponsored plan "must be for the exclusive benefit of its employees or their beneficiaries," IRS officials write in the
revenue ruling.
In its
revenue ruling issued on February 21, 2008, the IRS explained that an employee could leave for "good reason" or be terminated without "cause" simply because that employee missed interim performance targets.
The court looked favorably on the IRS's citation of
Revenue Ruling 75-44 and took an expansive view of wages.
Two states--California and Florida--reviewed the
Revenue Ruling in draft form and agreed with it, noting that their members had raised concerns similar to those the AICPA expressed.
South Carolina: Delivery of TPP in company-owned delivery trucks is a protected activity; see SC
Revenue Ruling 98-3 (1/21/98).
(38) The regulations implement this resolve by essentially removing all discretion from everyone within the IRS and Treasury other than the senior-most leadership (those that have final approval of all regulations and
revenue rulings) in identifying "significant future benefits" requiring capitalization.
Along with the revenue procedure, the IRS issued
Revenue Ruling 2002-35, which clarifies that payments to employees for equipment they are required to provide as a condition of employment are wages for federal employment tax purposes, unless such payments are paid under an accountable plan.
15, the IRS issued a
revenue ruling agreeing that impact fees paid by developers are part of the cost of doing business and can be used in calculating the Low Income Housing Tax Credit.
