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I.

DEALER TAX WATCH

INDEX OF ARTICLES: JUNE, 1994 - DECEMBER, 2009

PAGE 12

ACCOUNTING & TAX ISSUES (continued)

CONTRIBUTIONS TO CAPITAL - SECTION 118

IRS Concern Over Possible Abuse of Capital Contribution Provision … LMSB-04-1007-069 (Watch Out #5)*..........................................................................December, 2007.........pg. 5

DEMONSTRATOR VEHICLES - VALUING & REPORTING USAGE BY DEALERSHIP EMPLOYEES

SAFE HARBOR RULES FOR DEMONSTRATOR USAGE … REV. PROC. 2001-56

2004 NADA Workshop Summary Report ....................................................................March, 2004...............pg. 9

W.J. De Filipps’ Seminar Outline .................................................................................September, 2003 ........pg. 26 New IRS Guidelines for Valuing the Use of Demo Vehicles ... in Rev. Proc. 2001-56 ....December, 2001.........pg. 4

At A Glance .................................................................................................... PG...December, 2001.........pg. 5 Sample Letter on New Demo Rules ............................................................... PG...December, 2001.........pg. 3

51 Questions ............................................................................................................December, 2001.........pg. 6

Full Exclusion for Qualified Demo Use .................................................................December, 2001.........pg. 8 Calculation of Whether Demo Use Is Considered Limited ............................ PG...December, 2001.........pg. 11 Partial Exclusion for Qualified Demo Use ..............................................................December, 2001.........pg. 12

Full Exclusion for Qualified Demo Use ................................................................ General Rule for Non-Simplified Methods ............................................................ IRS-Approved Demo Plan Language ... Full Exclusion Method.................... PG.. IRS-Approved Demo Plan Language ... Partial Exclusion Method ............... PG..

.December, 2001.........pg. 16 .December, 2001.........pg. 18 .December, 2001.........pg. 20 .December, 2001.........pg. 22

CASES & RULINGS

Tax Court Reverses Self-Serving Demo Positions in Herbert L. Whitehead v. Comm.* Dealer Valuations Hit Very Hard Again in BMW of North America, Inc. ................... LTR 9816007: Another Demo Ruling … With an Even More Disturbing Message .. LTR 9801002: Taxable Fringe Benefits for Drivers & Big Tax Liabilities for

.March, 2002...............pg. 9 .March, 1999...............pg. 4 .June, 1998..................pg. 5

Auto Dealership Created by Demonstrator Use......................................................

.December, 1997.........pg. 15

Key Code Sections & Regulations Citations.................................................................December, 1997.........pg. 22

VALUATION & REPORTING USAGE - PRIOR TO IRS ISSUANCE OF REV. PROC. 2001-56

Demos … Back Under the IRS Microscope as Industry Issue Resolution Prog. Item..June, 2001..................pg. 12 Sample Demonstrator Agreement (Note: Superceded by Rev. Proc. 2001-56)... PG ..December, 2000.........pg. 4

Coming Soon: A Bright-Line Test (IRS Industry Specialist Update) IRS Audit Update: The IRS-NADA Debate at a Stand-Off..............

  • *

    .......................December, 1999.........pg. 9

...........................December, 1998.........pg. 1

Dealership Demonstrator Vehicles ... Still A Hot Audit Issue

......................................June, 1996..................pg. 9

NADA Recommendations and NADA Sample Policy Statement.................................June, 1996..................pg. 10

IRS’ Demonstrator Vehicles Usage Worksheet *

........................................................June, 1995..................pg. 21

IRS Audits Are Still Evident: Demonstrators Still Hit Hard

........................................December, 1995.........pg. 1

Sample Demonstrator Agreement (Note: Superceded by Rev. Proc. 2001-56).... PG ..September, 1995 ........pg. 17

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