CCH Tax News Headlines - August 8, 2008

CCH Tax News Headlines - August 8, 2008

FEDERAL NEWS -

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Transactions to Inflate Basis of Corporate Stock Using Foreign Currency Options Lacked Economic Substance (Stobie Creek Investments, LLC, FedCl)

Third Party Summonses Enforced; Powell Factors Satisfied (Clearwater Consulting Concepts, LLLP, DC V.I.)

Rates for Computing Current Plan Liability for August 2008 Set (Notice

2008-69)

Taxpayers with 25 or More Heavy Highway Vehicles Must E-File Form 2290 (IR2008-94)

STATE NEWS New York --Corporate Income Tax: Investment Credit Qualifications Discussed

Virginia --Sales and Use Tax: Equipment Used in Providing Internet Access Services Exempt

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John H. Fisher
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