SWFT 2015 Corporation Tax Ch01 PPT

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Corporations, Partnerships,Estates & Trusts

1

Chapter 1

!nderstanding and "or#ing

"ith the $ederal %a& La


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%he 'ig (icture

) *ana (ehrson advanced +-,000 to her nephe in

200 to enable hi/ to attend a private university.

) ver the ne&t e years, the nephe repays *ana

+1,000 on the loan.3 4oever, seven years later *ana co/es to you to

deter/ine hether she can clai/ a bad debt deduction or

the +,000 the nephe has not repaid.

) "hat planning tips /ight you give to *ana

) "hat /ista#es ere /ade

) Read the chapter and or/ulate your response.


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Co/peting b6ectives Result in a

Co/ple& La 7tructure

) Revenue 8eeds

) 9cono/ic Considerations

) 7ocial Considerations) 9:uity ;$airness< Considerations

) (olitical Considerations


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9cono/ic Considerations;slide 1 o 2,000 git ta& e&clusion ;this is

called git splittingD


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Agencies nluencing %a& La;slide - o >, 201132 C.'. -1) 9&planation? Revenue Ruling 8u/ber 1>, appearing on page -1 o

Holu/e 2 o the Cu/ulative 'ulletin or 2011


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Revenue (rocedures;slide 1 o 2E


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Letter Rulings;slide 1 o 2 letter rulings /ay be substantial authority or

purposes o the accuracy=related penalty

) Li/ited to restricted, preannounced areas o ta&ation


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Letter Rulings;slide 2 o 20-E

) -Eth ruling issued in the 1>th ee# o 201-


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ther Ad/inistrative (ronounce/ents;slide 1 o -< ;RA citation


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7upre/e Court *ecisions

) 9&a/ples o citations

3!.7. v. %he *onruss Co., ;!77C, 1

SWFT 2015 Corporation Tax Ch01 PPT

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