CCH Tax News HeadlinesJuly 11, 2008
Topics may be accessed here:
FEDERAL NEWS Oil Company's Exchange of Assets for Subsidiary's Stock Was Valid Transfer to Controlled Corporation; Nonproducing Assets Constituted Property: IRS Could Not Reallocate Loss on Subsequent Stock Sale (Shell Petroleum Inc., DC Tex.)
Taxpayers in Bankruptcy Entitled to Stimulus Proceeds if Cash Exemptions Available (In re Alguire, BC-DC N.Y.)
Senate Closing in on Passage of Housing Bill
STATE NEWS Alaska -- Motor Fuel Tax: Legislature Considers Gas Pipeline Certification, Energy Relief
Virginia -- Multiple Taxes: Transportation Funding Legislation Fails to Pass House
West Virginia -- Corporate Income, Franchise Taxes: Deduction Allowed for Loans Secured by Nonresidential Collateral, Construction Loans
Missed a headline? Review last week's tax news -