Tax News & Views - July 31, 2009Vol. 10, No. 37 |
Publish date:
Author
Tax Policy Group, Deloitte Tax LLP
- Health care on hold till September in House, Senate Finance Committee – Although health care reform made some behind-the-scenes progress in the House and Senate, an anticipated floor vote on House legislation and a markup of revenue provisions in the Senate Finance Committee now are officially on hold until September.
- LLP, LLC members are ‘general partners’ for purposes of passive activity presumption, trial courts hold – Both the Tax Court and the Court of Federal Claims have rejected the government’s position that, for purposes of the passive activity rules under section 469(h)(2), a member of a limited liability company (LLC) and/or limited liability partnership (LLP) is deemed to be a limited partner in a limited partnership and, therefore, not to have materially participated in the operations of the LLC or LLP.
- Proposed regulations address when practitioners may charge contingent fees – The IRS issued proposed regulations on when tax practitioners who are subject to the Circular 230 standards for practice before the Service may charge contingent fees.
- Neal bill would disallow the deduction for excess nontaxed reinsurance premiums paid to affiliates – House Ways and Means Committee member Richard E. Neal, D-Mass., introduced legislation (H.R. 3424) that would disallow the deduction for excess reinsurance premiums paid by an insurer to an offshore affiliate not subject to U.S. tax.
See attached file for details.
Visit the Tax News & Views archive for editions from the past six months.
Tax News & Views - July 31, 2009
(68.10 KB)
