Tuesday, October 14, 2008

Proposed Section 108 Regulations May Result in Disparate Treatment of S Corporation Shareholders

Excerpt from Practical US/Domestic Tax Strategies by Jeanne Sullivan (KPMG LLP)

Recently, Treasury published proposed regulations under section 108 on the reduction of tax attributes for S corporations (73 FR 45656-01). The proposed regulations provide guidance on the manner in which an S corporation applies the rules of section 108(b) in a year in which the S corporation has discharge of indebtedness income (COD income) that is excluded from gross income under section 108(a). In particular, the proposed regulations address situations in which S corporation losses and deductions that are treated as net operating losses (NOLs) for purposes of section 108 exceed the amount of the S corporation’s excluded COD income (Excess Deemed NOL). The proposed regulations provide rules whereby the Excess Deemed NOLs are apportioned among the S corporation’s shareholders after tax attribute reduction. As we shall see, the rules may result in potentially disparate treatment of the S corporation shareholders.


Subchapter S generally provides simplified pass-through treatment for corporations that meet its eligibility requirements. To avoid the complexities that can result from the variations in economic rights associated with partnerships, subchapter S requires that each shareholder be allocated a pro rata share of an S corporation’s items of income (including tax-exempt income), loss, deduction and credit as well as a pro rata share of nonseparately computed income and loss (section 1366(a)) and that the S corporation issue only a single class of stock (section 1361(b)(1)(D)). Nevertheless, the S corporation is a separate entity that also retains certain corporate characteristics and the rules of section 108 are applied at the corporate entity level.

Read More: Discharge of Indebtedness and Section 108

7 comments:

Anonymous said...

порно почтой дешево
порно пароли
playboy boardreply php
попка титька
деревенское порно

Anonymous said...

I am sorry, that has interfered... This situation is familiar To me. It is possible to discuss. Write here or in PM.

Anonymous said...

[b]ringtones[/b]

[url=http://pirix.net/in.cgi?17&parameter=ringtones][img]http://officiallogistics.com/ts/img/movie.gif[/img][/url]

[url=http://pirix.net/in.cgi?17&parameter=ringtones]ringtones[/url]


crank ringtone megaupload
t mobile buyout
sickle cell and breast pain
ooogah horn ringtone
free emergency call anyone to mobile by pc in india
make a cell phone antenna
foto dell orso tv mobile
bioplasma cell salts
mobile flexispy torrent
free mobile porn videos sony ericsson
watch free mobile sextube
cingular free call back tones
ringtones for samsung
photos of flip cell phones
t mobile wing accessories
stealth ringtone
w180 mobile software
unlock sony emerson cell phone
how to find out cell phone numbers on bill
francet tone hollywood actors wifes
free 3gp mobile vedio boy fuck granny
sextv mobile
high profile two tone baseball hats
funny mp3 ringtones rapidshare rar
david yurman ring
eve laurence mobile sex clips
бесплатно скачать alice dvd any video to cell phone converter
download video mobile sex
stable and mobile core strength exercises
funny videos for mobile phones
mobile navigator
sexmovies mobile free
mobile homes for rent in augusta georgia
pro javafxв„ў platform: script, desktop and mobile ria with javaв„ў technology free ebook download
clearance pay monthly sony mobile with cash back
free dog sex mobile java games
porn tube on mobile
bad credit mobile home mortgage loan
navision for windows mobile
mobile phone avg antivirus
miley cyrus cell phone pics leaked
at &t bluetooth cell phone to 2007 lexus es350
t cell lymphoma more condition_symptoms
rhinestone cell phone covers
mobile cuircuit digaram
ring toss
save quran to mobile free
gold flower ring
mobile wap lexington steele
download free mobile sexy video
cubic zirconia princess cut diamond eternity ring
bluetooth hack 2008 mobile edition gratis
craft supplies metal rim ring
simoco mobile wallpaper
read chinese in mobile
far cry 2 cell phone missions
free lg cell phone wallpapers
maxis caller ringtones
keygen spb mobile shell 3 free
free mobile software for samsung e250i
top mobile video toto cutugno l'italiano
t mobile number change
myxser tones
navision Рё windows mobile
npr teen tone
archlord ring of trancendence
plant cell and animal cell worksheets
tube mobile sex
t mobile web n walk
mobile sex video greek
gianna michaels free mobile video
mobile beastiality sites
winfonie mobile
downloading the software to create ringtones
how to put limewire songs ringtone iphone 3g
coreplayer mobile windows megaupload
mobile alabama jobs.com
twilight original bella ring
bella ring - twilight
t mobile simlock vrij maken
family mobile
www exxon mobile
mobile sextv
cell tech

Anonymous said...

I can recommend.

Anonymous said...

Hello. And Bye.

Anonymous said...

Everybody[url=http://sex.jelev.eu/amateur+gay+porno.html]amateur gay porno[/url] heard rumours [url=http://sex.jelev.eu/hot+porno+cum+ass+pornstar.html]hot porno cum ass pornstar[/url] about women[url=http://sex.jelev.eu/cartoon+porno+los+simson.html]cartoon porno los simson[/url] faking orgasms. Is that true? The majority of women have [url=http://sex.jelev.eu/list+of+free+porno+sites.html]list of free porno sites[/url] faked at least one orgasm, yet some fake almost all of them. Why do they do that? There[url=http://sex.jelev.eu/acceso+gratis+para+ver+videos+de+porno+mujeres+con+animales.html]acceso gratis para ver videos de porno mujeres con animales[/url] are many reasons and the case is that there's [url=http://sex.jelev.eu/filme+porno+yutube.html]filme porno yutube[/url] no one to blame.
The most [url=http://sex.jelev.eu/fotos+porno+amateur.html]fotos porno amateur[/url] common are two [url=http://sex.jelev.eu/lesbian+porno+stories.html]lesbian porno stories[/url] reasons: they[url=http://sex.jelev.eu/hardcore+u-tube+porno.html]hardcore u-tube porno[/url] don't want to make their partners feel bad [url=http://sex.jelev.eu/lesbian+hot+porno+video.html]lesbian hot porno video[/url] or they are tired and just want to end sex. Most females say that their partners ar[url=http://sex.jelev.eu/tv+porno+amateur.html]tv porno amateur[/url] e not satisfied until the[url=http://sex.jelev.eu/free+mature+rape+porno.html]free mature rape porno[/url] girls feels orgasm, there's only one way to make them feel happy and stop the[url=http://sex.jelev.eu/interracial+porno+tube+8.html]interracial porno tube 8[/url] exhausting procedure - fake.
Another [url=http://sex.jelev.eu/sex+games+make+a+porno+online.html]sex games make a porno online[/url] reason is that a[url=http://sex.jelev.eu/american+porno+tubes.html]american porno tubes[/url] typical female [url=http://sex.jelev.eu/older+porno+tube.html]older porno tube[/url] doesn't seek for orgasm; she desires a sexual [url=http://sex.jelev.eu/porno+tube+videos.html]porno tube videos[/url] relationship only because she wants intimacy. Still, such an attitude may make her partner feel bad. [url=http://sex.jelev.eu/indian+private+porno.html]indian private porno[/url] The only way out is to [url=http://sex.jelev.eu/free+funny+porno+games.html]free funny porno games[/url] fake it out.
[url=http://sex.jelev.eu/best+free+porno+sites.html]best free porno sites[/url] Some women never really experience orgasm while making sex, but they want their partner to feel good about himself and her. Men usually expect women to have pleasure, that's why females have no other choice. They have to fake to have a good relationship.
Loss of interest, having sex only because the partner wants to, also makes women to fake. Most females talk to their friends about such things and while they know other women act it, they do so too, because it's an easier way to have a good relationship.

Anonymous said...

In biology, sex is [URL=http://sex.pourle.net/latest+celebrity+sex+tapes.html]latest celebrity sex tapes[/url]
a process of combining and mixing [URL=http://sex.pourle.net/hoopz++sex+tape+video.html]hoopz sex tape video[/url]
genetic traits, often resulting [URL=http://sex.pourle.net/sex+dirty+hard.html]sex dirty hard[/url]
in the specialization of organisms into [URL=http://sex.pourle.net/outdoor+couples+having+sex.html]outdoor couples having sex[/url]
a male or female variety (known as a sex). Sexual reproduction involves combining specialized cells (gametes) to form offspring [URL=http://sex.pourle.net/free+brother+sister+sex.html]free brother sister sex[/url]
that [URL=http://sex.pourle.net/twilight+movie+sex.html]twilight movie sex[/url]
inherit traits from both parents. Gametes can be identical in form and function (known as isogametes), but in many cases an asymmetry has evolved [URL=http://sex.pourle.net/cartoon+sex+pictures.html]cartoon sex pictures[/url]
such that two sex-specific types of gametes (heterogametes) exist: male [URL=http://sex.pourle.net/japan+teen+sex.html]japan teen sex[/url]
gametes are small, [URL=http://sex.pourle.net/amateur+teen+sex+video.html]amateur teen sex video[/url]
motile, and optimized to transport their genetic information over a distance, while female gametes are large, non-motile and contain [URL=http://sex.pourle.net/twilight++sex.html]twilight sex[/url]
the nutrients necessary for the early development of the young organism.
An organism's sex is [URL=http://sex.pourle.net/carrie+prejean+anal+sex+tape.html]carrie prejean anal sex tape[/url]
defined by the gametes it produces: males produce male [URL=http://sex.pourle.net/indian+hot+sex.html]indian hot sex[/url]
gametes (spermatozoa, or sperm) while females produce female gametes (ova, or egg cells); individual organisms which produce both male and female [URL=http://sex.pourle.net/free+sex+post+stories.html]free sex post stories[/url]
gametes are termed hermaphroditic. Frequently, physical differences are associated with the different sexes of an organism; these sexual dimorphisms can reflect the different reproductive pressures the sexes experience.
[URL=http://sex.pourle.net/carrie+prejean+homemade+sex+tape.html]carrie prejean homemade sex tape[/url]