Federal Tax Update for the Week of March 29, 2010

1. Second Circuit Reverses Tax Court on Deductibility of Trademark Royalty Payments
(Robinson Knife Manufacturing Co.;  CA 2, No. 09-1496, 3/19/2010) 

2. IRA Withdrawal Is Exempt From Additional Tax
(LTR 201011036, 12/14/2009, rel. 3/19/2010) 

3. Organization's Exempt Status Is Retroactively Revoked
(LTR 201011037, 4/10/2009, rel. 3/19/2010) 

4. Supreme Court Denies Certiorari in Second Circuit’s DeAnglis MD PC Decision
(Docket No. 09-895, 3/22/2010)

5. Notification Requirement of Inconsistent Position re: Partnership Return
(ECC 201011020, 2/3/2010, rel. 3/19/2010) 

6. Ninth Circuit Issues New Opinion Affirming Tax Court in Xilinx Transfer Pricing Case
(Xilinx Inc. et al. v. Commissioner; CA 9, Nos. 06-74246, 06-74269) 

7. Gambling Loss Limitation Applies to Professional Gambler
(David J. Crawford et ux. v. Commissioner; T.C. Memo. 2010-54) 

8. Proposed Regs on Use of Return Preparers' Identifying Numbers
(REG-134235-08; 75 F.R. 14539-14545) 

9. Couple Not Entitled to Deductions from Tax Shelter; Fraud Penalties Apply
(Douglas D. Child et ux. v. Commissioner; T.C. Memo. 2010-58)
 

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