Federal Tax Update for the Week of March 1, 2010

1. Rental Income Received by Tribal Member Exempt From Taxation
(ILM 201007053) 

2. Breach of Warranty Liabilities Don't Qualify for Extended NOL Carryback
(ILM 201006028) 

3. Musician Is Employee of Church
(SS8 2010020002) 

4. Life Insurance Policy Value Not Reduced by Surrender Charge
(Karl L. Matthies;  134 T.C. No. 6) 

5. Profit-Sharing Plan Remains Qualified After Restorative Payments
(LTR 201007077)   

6. IRS Releases Publication on Mutual Fund Distributions
(Publication 564) 

7. Innocent Spouse Relief Granted, IRS Criticized
(Danika K. Kosola ;  T.C. Memo. 2010-34) 

8. NOL Carryover Denied; Penalty Upheld for Failure to Timely File
(John Michael Davidson ; T.C. Memo. 2010-38) 

9. Candle-Selling Activity Wasn't For Profit; Penalty Upheld
(Georgia C. Farber ; T.C. Memo. 2010-37) 

10. First Circuit Affirms Nondeductibility of In Vitro Fertilization Expenses
William Magdalin ; CA 1, No. 09-1153) 

11.  Salesman Was  Common Law Employee; Accuracy-Related Penalty Imposed
(Thomas Rosato ; T.C. Memo. 2010-39)   

12.  Severance Payments not Subject to FICA
( Quality Stores Inc.; USDC W MI) Tax Collected at Source)
Doc 2010-4102; 2010 TNT 38-14 

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