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Results: 1-10 of 139

Statutory interpretation still lives
  • Alston & Bird LLP
  • USA
  • January 1 2014

In early December, the Supreme Court of the United States ruled that the substantial valuation misstatement penalty could be determined in a TEFRA


IRS’ schedule of uncertain tax positions raises concerns for preserving privilege
  • Alston & Bird LLP
  • USA
  • June 1 2010

In response to a claimed need to allocate IRS resources to significant issues and improve audit efficiency, the IRS issued Announcement 2010-9 in January 2010, setting forth a new initiative that would require certain business taxpayers to disclose uncertain tax positions (UTP) on a new schedule that would be filed with their federal income tax returns


LB&I directive softens economic substance doctrine
  • Alston & Bird LLP
  • USA
  • July 15 2011

Examiners cannot apply the ESD in an examination without first proceeding through a relatively extensive and intensive and multilayered process of analysis involving multiple levels of IRS approval


Federal tax advisory - eliminating a domestic sandwich LTR 201250004
  • Alston & Bird LLP
  • USA
  • January 1 2013

LTR 201250004 involved a domestic corporate Parent's purchase of a foreign group that had one domestic subsidiary. This is a common situation and Parent


STARS transaction rejected
  • Alston & Bird LLP
  • USA
  • February 20 2013

On Feb. 11, 2013, a regular Tax Court opinion was issued in a case that the opinion said was of first impression, ruling against Bank of New York


Sections 305 and 306 and tracking stock
  • Alston & Bird LLP
  • USA
  • February 25 2013

LTR 201308001 rules on sections 305 and 306 are bread and butter subchapter C provisions that were designed for "tax shelters" that are so quaint and


GLAM 2012-007
  • Alston & Bird LLP
  • USA
  • December 1 2012

The IRS Chief Counsel advises the field in this general legal advice memorandum (GLAM) that a subsidiary does not enter a corporate group when the common parent buys the stock needed for affiliation for a note carrying below-market interest so as to compel the seller to exercise its right to take the stock back after two years


REIT conversions
  • Alston & Bird LLP
  • USA
  • June 7 2013

LTR 201314002 has caused quite a buzz in the investment community. Stock pickers want to know how far the envelope can be pushed on the definition of


Non-355 ruling
  • Alston & Bird LLP
  • USA
  • December 31 2012

Sometimes, a corporation wants to distribute stock of a subsidiary to its shareholders in a taxable transaction and does not want Section 355 to apply to


Section 355 no-rule tightened
  • Alston & Bird LLP
  • USA
  • January 2 2013

The IRS issued its annual no-ruling revenue procedure, Rev. Proc. 2013-3, which added several items relating to Section 355 distributions. The IRS is