Notice 2008-59 Health Savings Account questions and answers
Aramark v SEIU, 9th Circuit Court of Appeals
Announcement 2008-56 Change in Reporting Section 404(k) Dividends (ESOPs)
Rev. Rul. 2008-32 Outside Director of a Corporation
Notice 2008-55 Equity Characterization of Auction Rate Preferred Stock
South Carolina Notice on New 7% Withholding on Form 1099 Reportable Payments if no
TIN, incorrect TIN, or ITIN
Rev. Rul 2008-29 Income Tax Withholding on Supplemental Wage Payments
Rev. Rul. 2008-31 Notional Principal Contract not a US Real Property Interest solely
because return is calculated by reference to a real estate index
Memorandum 200822026 on IRS preparation of Form 941 after finding of worker
misclassification
Notice 2008-51 Guidance on qualified Health Savings Account funding distribution from
an IRA or Roth IRA to a Health Savings Account
Notice 2008-52 Guidance on Health Savings Account contributions under the Tax Relief
and Health Care Act of 2006 - maximum contributions; testing periods; when additional
tax applies
FICA on payments in lieu of health care cover for retirees: See 08-0001 and 08-0006
Memorandum 200819001 regarding levy on State retirement fund
H.R. 5804 Legislation that would affect Form 1099 reporting and worker classification
Announcement 2008-44 Relief for Recipients of Certain Direct Deposits of 2008
Economic Stimulus Payments
Cost Basis Reporting language from H.R. 3221 passed by both houses of Congress
Notice 2008-49 Public Inspection of Form 990-T
Notice 2008-38 Government Entity Comments on Mandatory 3% Withholding
Draft for Tax Reporting of Merchant Reimbursements by Credit Card Companies
TD 9391 Final Regulations for Source Rules Involving U.S. Possessions, and other
conforming changes to regulations
Rev. Rul. 2008-23 M&IE Expense Deduction for Leased Employees
Rev. Rul. 2008-18 Identifying Numbers after S-corp Reorganization
Rev. Proc. 2008-24 Tax-Free Exchanges of Annuity Contracts
Notice 2008-27 Reissuance Standards for State and Local Bonds
Notice 2008-41 Supplement to 2008-27 Reissuance Standards for State and Local
Bonds
Notice 2008-30 Guidance on Distributions under the Pension Protection Act of 2006
Revenue Ruling 2008-13 Excessive Compensation
Notice 2008-42 Modifications of Split-Dollar Life Insurance Arrangements
Regents of the University of Minnesota v U.S. (medical resident FICA)
Mayo Foundation for Medical Education and Research and Mayo Clinic v US (medical
resident FICA)
Supreme Court: LaRue v DeWolff Boberg and Associates Inc et al
Idaho Supreme Court: Giltner, Inc. v Idaho Department of Commerce and Labor
United States District Court for the Eastern District of Texas: Verret v U.S.
United State District Court for the Southern District of New York: Fallu Productions Inc v
U.S.
Announcement 2008-8 with treaty benefit table supplement to Pub 515
For Belgium, Denmark, Finland and Germany, new tables on withholding and
compensation exempt from withholding. Some apply from January 1, 2007; others from
January 1, 2008.
New Mileage Rates for 2008
The standard mileage rate for employee reimbusement of an automobile for business
purposes will increase to 50.5 cents per mile on January 1, 2008. Rev. Proc. 2007-70
also covers mileage rates for charitable, medical and moving expense purposes.
Announcement 2008-6 Changes to Form 1042-S Electronic File Format
Fiscal 2009 Some Legislative Proposals in Administration's Proposed Budget
Notice 2008-15 Allocation of Prepaid Mortgage Insurance Premiums for 2007
Notice 2008-8 Reporting Stock Transfers Pursuant to Employee Options
Revenue Ruling 2008-1 Tax Treatment of Certain Foreign Currency Transactions
Revenue Ruling 2008-5 Loss from Wash Sale of Stock
Notice 2008-2 Possible Income/Expense Accrual on Prepaid Forward Contracts
Legislation to require income accrual on ETNs and any other prepaid derivative
contracts (H.R. 4912)
New Form I-9
The new Form I-9 "Employment Eligibility Verification" changes the documents that are
acceptable as proof of eligibility to work. Five documents that formerly were acceptable
have been dropped from the list. Only this new I-9 and the new list of documents may
be used, as of November 7. See also the Fact Sheet from USCIS, and the new Nov 1
M-274 Handbook for Employers with instructions for Form I-9.
REG-114125-07 proposes new income sourcing rule for foreign artists and athletes
If the event is in the U.S., the entire compensation would be U.S. source income, without
allowance for preparation outside of the U.S.
REG-133300-07 proposed rules for automatic enrollment in retirement plans
Proposed Regulations for automatic enrollment and contributions to 401(k), 403(b) or
457 plans, as permitted by the Pension Protection Act of 2006
New Form W-9 (revised October 2007)
Legislation on raising Form 1099 penalties (H.R. 3056)
Passed by the U.S. House of Representatives on October 10; currently in the Senate
Committee on Finance. The same legislative provisions have been inserted into other
tax bills not yet passed.
"Vision Draft" of new Form 941X
Aramark v SEIU, 9th Circuit Court of Appeals
Announcement 2008-56 Change in Reporting Section 404(k) Dividends (ESOPs)
Rev. Rul. 2008-32 Outside Director of a Corporation
Notice 2008-55 Equity Characterization of Auction Rate Preferred Stock
South Carolina Notice on New 7% Withholding on Form 1099 Reportable Payments if no
TIN, incorrect TIN, or ITIN
Rev. Rul 2008-29 Income Tax Withholding on Supplemental Wage Payments
Rev. Rul. 2008-31 Notional Principal Contract not a US Real Property Interest solely
because return is calculated by reference to a real estate index
Memorandum 200822026 on IRS preparation of Form 941 after finding of worker
misclassification
Notice 2008-51 Guidance on qualified Health Savings Account funding distribution from
an IRA or Roth IRA to a Health Savings Account
Notice 2008-52 Guidance on Health Savings Account contributions under the Tax Relief
and Health Care Act of 2006 - maximum contributions; testing periods; when additional
tax applies
FICA on payments in lieu of health care cover for retirees: See 08-0001 and 08-0006
Memorandum 200819001 regarding levy on State retirement fund
H.R. 5804 Legislation that would affect Form 1099 reporting and worker classification
Announcement 2008-44 Relief for Recipients of Certain Direct Deposits of 2008
Economic Stimulus Payments
Cost Basis Reporting language from H.R. 3221 passed by both houses of Congress
Notice 2008-49 Public Inspection of Form 990-T
Notice 2008-38 Government Entity Comments on Mandatory 3% Withholding
Draft for Tax Reporting of Merchant Reimbursements by Credit Card Companies
TD 9391 Final Regulations for Source Rules Involving U.S. Possessions, and other
conforming changes to regulations
Rev. Rul. 2008-23 M&IE Expense Deduction for Leased Employees
Rev. Rul. 2008-18 Identifying Numbers after S-corp Reorganization
Rev. Proc. 2008-24 Tax-Free Exchanges of Annuity Contracts
Notice 2008-27 Reissuance Standards for State and Local Bonds
Notice 2008-41 Supplement to 2008-27 Reissuance Standards for State and Local
Bonds
Notice 2008-30 Guidance on Distributions under the Pension Protection Act of 2006
Revenue Ruling 2008-13 Excessive Compensation
Notice 2008-42 Modifications of Split-Dollar Life Insurance Arrangements
Regents of the University of Minnesota v U.S. (medical resident FICA)
Mayo Foundation for Medical Education and Research and Mayo Clinic v US (medical
resident FICA)
Supreme Court: LaRue v DeWolff Boberg and Associates Inc et al
Idaho Supreme Court: Giltner, Inc. v Idaho Department of Commerce and Labor
United States District Court for the Eastern District of Texas: Verret v U.S.
United State District Court for the Southern District of New York: Fallu Productions Inc v
U.S.
Announcement 2008-8 with treaty benefit table supplement to Pub 515
For Belgium, Denmark, Finland and Germany, new tables on withholding and
compensation exempt from withholding. Some apply from January 1, 2007; others from
January 1, 2008.
New Mileage Rates for 2008
The standard mileage rate for employee reimbusement of an automobile for business
purposes will increase to 50.5 cents per mile on January 1, 2008. Rev. Proc. 2007-70
also covers mileage rates for charitable, medical and moving expense purposes.
Announcement 2008-6 Changes to Form 1042-S Electronic File Format
Fiscal 2009 Some Legislative Proposals in Administration's Proposed Budget
Notice 2008-15 Allocation of Prepaid Mortgage Insurance Premiums for 2007
Notice 2008-8 Reporting Stock Transfers Pursuant to Employee Options
Revenue Ruling 2008-1 Tax Treatment of Certain Foreign Currency Transactions
Revenue Ruling 2008-5 Loss from Wash Sale of Stock
Notice 2008-2 Possible Income/Expense Accrual on Prepaid Forward Contracts
Legislation to require income accrual on ETNs and any other prepaid derivative
contracts (H.R. 4912)
New Form I-9
The new Form I-9 "Employment Eligibility Verification" changes the documents that are
acceptable as proof of eligibility to work. Five documents that formerly were acceptable
have been dropped from the list. Only this new I-9 and the new list of documents may
be used, as of November 7. See also the Fact Sheet from USCIS, and the new Nov 1
M-274 Handbook for Employers with instructions for Form I-9.
REG-114125-07 proposes new income sourcing rule for foreign artists and athletes
If the event is in the U.S., the entire compensation would be U.S. source income, without
allowance for preparation outside of the U.S.
REG-133300-07 proposed rules for automatic enrollment in retirement plans
Proposed Regulations for automatic enrollment and contributions to 401(k), 403(b) or
457 plans, as permitted by the Pension Protection Act of 2006
New Form W-9 (revised October 2007)
Legislation on raising Form 1099 penalties (H.R. 3056)
Passed by the U.S. House of Representatives on October 10; currently in the Senate
Committee on Finance. The same legislative provisions have been inserted into other
tax bills not yet passed.
"Vision Draft" of new Form 941X
COKALA Tax Information
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