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What's New in Tax Tools |
Content continues to be added to the databases in Lotus Notes. Here is a list of the items added in March & April:
Tax Planning Tools
Strategies, Ideas, Templates & Manuals
- Maximizing the Recurring Item Exception Strategy
- AAA Redemption Strategy
- Accounting Method Change Opportunity for Repairs Idea
- Depreciation Incentives for 2008 Idea
- California MACRS Planning Idea
- Bad Debt Deduction Idea
- Worthless Stock Deduction Idea
- Applicable High Yield Discount Obligation (AHYDO) Identification & Management Idea
Coming next month:
- Bonus Depreciation Swap Strategy
- S Corporation Debt Review Strategy
Tax Practice Policy
The Tax Practice Policy database is updated on a quarterly basis. The next scheduled update will be in May 2009 regarding Section 6694 Paid Preparer Penalties, Section 7216 Consents, Conflict ofInterest, etc. Check back next month for a list of updated items.
Tax Compliance & Reference
The new items are located in the What’s New view within the database. Highlights include
- American Recovery and Reinvestment Act (ARRA) summary, client letter and opportunities
- Cancellation of Indebtedness
- Corporate Debt Restructuring
- COBRA Changes
- Bonus Depreciation Extensions
- Tax Treatment of Ponzi Scheme Losses & NOL Guidance
- Financially Troubled Companies Checklist
- 2008 Form 990 Q&A Document
- Exempt Organization Management of Credit Card Donations
- Boards & Leadership Transition Guidance
- Form 990 Governing Body Member Annual Questionnaire
- DMD Safe Harbor Directive on Prior Period Compensation
- Additional Tax Advice Templates
- Additional Section 7216 Consent Disclosure Forms
- Various SALT Alerts
- VA Enacts Single Sales Factor Apportionment for Manufacturers
- WI Budget Bill Makes Major Changes
- DC New License Requirements
- Recently Announced State Amnesty Programs
The items released have been developed based on input from member requests as well as recent developments in tax. If you have areas you would like to see developed or have questions on any of the tax tools databases, please contact Steve Kampa at steve.kampa@rsmi.com or 651-488-1537.
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