CCH TAX NEWS for February 14, 2007

CCH TAX NEWS for February 14, 2007

FEDERAL NEWS

Grassley Offers Deconstruction of AMT; Looks for Solutions

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Lawmaker Mull Problems with Earned Income Tax Credit
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IRS Provides Waiver of Underpayment of Estimated Tax Penalty for Certain U.S. Citizens and Residents Living Abroad (IR-2007-32; Notice

2007-16)
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STATE NEWS

Florida --Property Tax: Leases Precluded Exemption for City's Utility Towers, Other Property

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Idaho --Corporate Income Tax: Gains From Acquisitions, Dispositions Constituted Business Income
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John H. Fisher
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