CCH Tax Healine News - September 11, 2008
FEDERAL NEWS -
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Final Regulations Provide Rules for Determining Tax Consequences of Member's Transfer of Loss Shares of Subsidiary Stock (Unified Loss Rule) ( T.D. 9424, NPRM REG-157711-02)IRS Issues Penalty Regulations for Failure to Adequately Report Reportable Transaction Information (T.D. 9425; NPRM REG-160868-04)
Treasury and IRS Release 2008-2009 Priority Guidance Plan
Corporation's Payments to Redeem Stock Held by ESOP Which Were Subsequently Distributed to Terminated Plan Participants Were Not Deductible (Ralston Purina Co., TC)
Court Had No Jurisdiction to Hear Appeal from Equivalent CDP Hearing (Wilson, TC)
STATE NEWS Mississippi --Mississippi --Multiple Taxes: State To Follow Hurricane Gustav Extension
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