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I.

DEALER TAX WATCH

INDEX OF ARTICLES: JUNE, 1994 - DECEMBER, 2009

PAGE 26

ACCOUNTING & TAX ISSUES (continued)

TAX RETURN PENALTIES & DISCLOSURES - PREPARER PENALTIES, TAXPAYER (ACCURACY-RELATED) PENALTIES, ETC. (continued)

INCOME TAX RETURNS - SECTION 6662 & PRE-2007 AMENDMENTS TO SECTION 6694

West Covina Motors, Inc. … Aggressive Dealership Deductions Disallowed*

Accuracy-Related Penalties .....................................................................................Mid-Year, 2009 .........pg. 30

The IRS Broadens its Attack on Tax Shelters to Include Dealer PORCs … Notice 2002-70 Disclosure Statements in Income Tax Returns for Reportable or Listed Transactions* “Old” & “New” Reg. Sec. 6011-4T Requirements ..............................................December, 2002

.........pg. 18

Disclosure Statements … Form & Content ..........................................................December, 2002.........pg. 22 Tax Return Instructions for Tax Shelter Disclosure Statements...........................December, 2002.........pg. 23 One-Size-Fits-All (?) Disclosure Statement................................................ PG ..December, 2002.........pg. 24

Adequate Disclosure in Tax Returns Avoids Penalties: Rev. Proc. 94-74

...................December, 1994.........pg. 3

Burien Nissan, Inc. … Dealer Non-Compete Agreement Trapped by Section 197 ......June, 2001..................pg. 10

Froehlich, Lee D. … Dealers Repayment on Floorplan Guarantee

Gets Limited Tax Benefits .......................................................................................December, 1996.........pg. 18 Johnson, Michael H. … Auto Dealer Allowed to Defer Gain on Sale of Property Sold

Under Threat of Condemnation: Ultimately, Relief & No Penalties ......................March, 1999...............pg. 15 McCurley, William F. … “Advances” from Off-Shore PORC to Dealer Are Dividends...September, 1997 ........pg. 31

Metro Leasing & Development Corp. … Accuracy-Related Penalty Issues.................June, 2002

..................pg. 28

Peacock, James R. … Tax Court Sustains 20% Accuracy Penalties re: Fishing Losses ...September, 2002 ........pg. 11 Shotgun Delivery, Inc. … Reimbursement Plan - Penalties Reversed by Appeals Court...December, 2001.........pg. 23

Shotgun Delivery, Inc. … Reimbursement Plan - Penalties Applied by Tax Court ......March, 2000

...............pg. 8

Strong, Raymond … Salesman’s “Diary” Strongly Upsets Everybody’s Stomach.......June, 1997

..................pg. 10

Yarbrough Olds Cadillac et al. v. Comm. … The Darker Side: Fraud Additions to Tax ..December, 1995.........pg. 14 *Note: All of the cases above are listed separately by topic, etc. elsewhere.

GIFT TAX RETURNS

Inadequate Disclosure of LLC Interest in Gift Tax Return

Fails to Start Statute of Limitations* .......................................................................March, 2003...............pg. 18 Final Regulations Tell How Adequate Disclosure Will Prevent IRS

from Revaluing Prior Gifts * .....................................................................................March, 2000...............pg. 12

Adequate Disclosure Requirements .........................................................................March, 2000...............pg. 18

Qualified Appraisal and Appraiser Standards..........................................................March, 2000...............pg. 19

Suggestions for Working with the New Adequate Disclosure Standards....... PG...March, 2000...............pg. 20

Examples of (In)Adequate Disclosures....................................................................March, 2000...............pg. 22

Effective Date Rules ................................................................................................March, 2000...............pg. 24 Preliminary vs. Final Regulations............................................................................March, 2000...............pg. 25

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