Federal Tax Update for the Week of April 26, 2010

1. IRS Announces Release of Drafts of Uncertain Tax Positions Schedule and Instructions
(Announcement 2010-30; 2010-19 IRB 1) (Section 6011 -- Return Filing Requirement; Section 6111 -- Tax Shelter Registration; Section 6112 -- Tax Shelter List Requirement)
Doc 2010-8698; 2010 TNT 75-5 

IRS Releases Drafts of Uncertain Tax Positions Schedule and Instructions
(Section 6011 -- Return Filing Requirement; Section 6111 -- Tax Shelter Registration; Section 6112 -- Tax Shelter List Requirement)
Doc 2010-8705; 2010 TNT 75-8 

2. IRS Announces Revisions to Accounting Method Change Application Form
(Announcement 2010-32; 2010-19 IRB 1) (Section 481 -- Changes in Accounting Method)
Doc 2010-8978; 2010 TNT 78-12 

3. Nonconforming Agreement Defeats Father's Eligibility for Exemptions, Credits
Stephen S. Gessic v. Commissioner (T.C. Memo. 2010-88) (United States Tax Court) (No. 156-08) (Section 152 -- Dependent Defined; Section 24 -- Child Credit)
Doc 2010-8991; 2010 TNT 78-14 

4. Tax Court Rules Donations to Needy Individuals Not Deductible as Charitable Contributions
Jeffrey N. Wilkes et ux. v. Commissioner (T.C. Summ. Op. 2010-53) (United States Tax Court) (No. 4038-08S) (Section 170 -- Charitable Deduction; Section 501(c)(3) -- Charities)
Doc 2010-8992; 2010 TNT 78-16 

5. First Circuit Affirms Damage Award to Car Dealership for Bad Tax Advice
Haddad Motor Group Inc. et al. v. Karp, Ackerman, Skabowski & Hogan PC et al. (United States Court of Appeals for the First Circuit) (Nos. 06-2206, 09-1479)
Doc 2010-8802; 2010 TNT 77-10 

6. Couple Not Entitled to Casualty Loss Deduction, Liable for Penalties
Franklin M. Sykes et ux. v. Commissioner (T.C. Memo. 2010-84) (United States Tax Court) (No. 7275-08) (Section 165(h) -- Casualty Loss; Section 6662 -- Accuracy-Related Penalty; Section 6664 -- Penalty Definitions and Special Rules)
Doc 2010-8884; 2010 TNT 77-11 

7. IRS Alerts Employers to Benefits of Healthcare Tax Credit
(IR-2010-48) (Section 35 -- Health Insurance Costs Credit)
Doc 2010-8672; 2010 TNT 75-7 

8. Company's Reliance on Accountant Not Reasonable; Penalties Sustained
McNair Eye Center Inc. v. Commissioner (T.C. Memo 2010-81) (United States Tax Court) (No. 18262-08L) (Section 6330 -- Hearing Before Levy; Section 6651 -- Failure to File or Pay; Section 6656 -- Failure to Deposit Taxes)
Doc 2010-8706; 2010 TNT 75-14 

9. Federal Tax Liens Remain on Property Sold in County Tax Foreclosure
Warren Rhoads v. United States (United States District Court for the Western District of Michigan) (No. 1:08-cv-00738) (Section 7425 -- Discharge of Liens; Section 6321 -- Liens for Taxes)
Doc 2010-8330; 2010 TNT 74-14 

10. S Corp Not Deemed to Have More Than One Class of Stock
(LTR 201015017) (Section 1361 -- S Corporations)
Doc 2010-8456; 2010 TNT 74-39 

11. H.R. 5021 Would Subject Carry-On Bag Fees to Air Transport Excise Tax
(H.R. 5021; Block Airlines' Gratuitous (BAG) Fees Act) (Section 4261 -- Tax on Air Transport of Persons)
Doc 2010-8560; 2010 TNT 74-64 

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