Federal Tax Update for the Week of June 21, 2010

1. Final, Temporary Regs on Indoor Tanning Services Excise Tax
(T.D. 9486; 6/14/2010) 

2.  Final Regs on Treatment of Prepaid Income Under Built-In Gain Provisions
(T.D. 9487; 6/14/2010) 

3. IRS, Other Agencies Issue Regs on Rules for Grandfathered Health Plan Status
(T.D. 9489; 6/15/2010) 

4. Deposits in Insurance Reserve Fund Not Deductible as Business Expenses
(F.W. Services Inc. et al. v. Comm., T.C. Memo. 2010-128, 6/15/2010) 

5. Bass Fishing Activity Wasn't for Profit; Excess Expenses Not Deductible
(Steve Lacy Lowe et ux. v. Comm., T.C. Memo. 2010-129, 6/15/2010)

6. No Abuse of Discretion in Rejecting Proposed Installment Agreement
(Ronald F. Marascalco et ux. v. Comm., T.C. Memo. 2010-130, 6/16/2010) 

7. Expect Delays in Processing Power of Attorney Forms
(Tax Analysts, Doc 2010-13376; 2010 TNT 116-6, 6/17/2010)

8. Swiss Parliament Approves UBS Agreement, Rejects Referendum
(Tax Analysts, Doc 2010-13439; 2010 TNT 117-6, 6/17/2010)

9. Senate Rejects Second Baucus Extenders Package
 (Tax Analysts, Doc 2010-13443; 2010 TNT 117-1,  6/17/2010)

10. House Passes Small-Business Tax Bill
(Tax Analysts, Doc 2010-13200; 2010 TNT 115-2, 6/16/2010)

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