CCH TAX NEWS for July 1, 2008
FEDERAL NEWS
President Signs FAA Extension Act
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Automatic Filing Extension for Partnership, Trusts and Estate Tax Returns Due After 2008 Reduced from Six to Five Months (IR-2008-84; T.D. 9407; NPRM REG-115457-08)
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IRS Releases Final Regulations on Employment Tax Adjustments and Refund Claims (T.D. 9405)
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Corporation's Payments to Married Couple Were for Interest and Repayment of Loan, Not Distribution (Beckley, TC)
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District Court Had Jurisdiction to Review Tax Treatment of Debtor's Partnership Items (Central Valley AG Enterprises, CA-9)
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STATE NEWSCalifornia --Sales and Use Tax: SBE Announces Elimination of Paper Tax Returns
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New York --Sales and Use Tax: Additional Information Provided on Rebutting New Vendor Presumption
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