Table Of ContentCUMULATIVE INDEX for VOLUME 8
This index includes all the material published in Volume 8 of Business Entities. References are to the issue number, page, and bi-monthly period of publication
Bad Debts TAM Finds Value of Noncompensatory Stock International
In PK Ventures, Tax Court Disallows Bad Debt Warrant Includable in Gross Income on Final Regulations for Determining Pro rata Share
Deduction, by Steven |. Klein & Stephen Date of Issuance, by Steven |. Klein & of Subpart F Income, by Emebeth Demrew
R. Looney, 8 BET 64, May/June 06 Stephen R. Looney, 8 BET 55, Sept./Oct. 06 8 BET 44, July/Aug. 06
Tax Court Holds Times Mirror's Disposition of
Choice of Entities Interviews
Bender Is Not a Qualified Reorganization by
Tax Considerations in Choice of Entity Decision, Steven |. Klein & Stephen R. Looney, 8 BET Lee A. Sheppard, 8 BET 40, Jan./Feb. 06
by Mary A. McNulty & Michelle M 45, Jan./Feb. 06
Like-Kind Exchanges
Kwon, 8 BET 28, May/June 06
Treatment of Basis of Redeemed Stock, by
Cutting Timber by Related Exchanger Does Not
Discharge of Indebtedness Steven |. Klein & Stephen R. Looney, 8 BET
Trigger Grain Recognition Under Section
54, Sept./Oct. 06
Corporation Recognizes DO! Income on Con- 1031(f), by Steven |. Klein & Stephen R
version of Convertible Preferred Securities Withdrawal of Proposed Regulations, by Steven Looney, 8 BET 60, Jan./Feb. 06
to Common Stock, by Stevén |. Klein & |. Klein & Stephen R. Looney, 8 BET 55,
Limited Liability Companies
Stephen R. Looney, 8 BET 58, May/June 06 Sept/Oct. 06
In re Enmann Il: Now You See It, Now You Don't,
Compensation Planning Deductions
by Thomas Earl Geu & Thomas E. Rutledge,
GAO Critiques Cash Balance Plan Conversions The Domestic Production Activities Deduction— 8 BET 44, May/June 06
— And AAA Critiques GAO Right Back, by Part 1, by Tom Purcell, Robert A. Zarzar, &
Building Stumbling Blocks: A Practical Take on
Alvin D. Lurie. 8 BET 32 Mar./Apr. 06 George Manousos, 8 BET 3. Nov./Dec. 06
Charging Orders, by Jacob Stein, 8 BET 28,
Proposed 409A Regulations—Part 1: Deferred Deferred Compensation Sept./Oct.06
Compensation Subject to Section 409A, by
Valuation of Stock Rights Under Section 409A, by Losses
Matthew A. Melone, 8 BET 18 (Jan./Feb. 06)
Steven |. Klein & Stephen R. Looney, 8 BET
Corporation May Not Deduct Loss on Expiration
Proposed 409A Regulations—Part 2: Design 64, May/June 06
of Purchase Option Agreement, by Steven |
and Operational Requirements, by Disregarded Entities Klein & Stephen R. Looney, 8 BET 60,
Matthew A. Melone, 8 BET 4, Mar/Apr.06
May/June 06
Disregarded Entities Would Pay Their Own
The Canaries Sing But They Sing Not to Thee,
Employment and Excise Taxes Under Pro- Net Operating Losses
by Alvin D. Lurie, 8 BET 20, Sept./Oct. 06 posed Regs, by Patrick Browne, Janet Jardin,
AMT NOLs Are Offset by Regular Taxable Income
Cooperatives & Carol Kulish Harvey, 8 BET 58, Mar./Apr. 06
in Years Prior to Enactment of Corporate
Taking a Subchapter T Cooperative Public, by Exempt Organization’s Single-Member LLC Is AMT, by Steven |. Klein & Stephen R. Looney,
Gerald V. Thomas || 8 BET 28 (Jan./Feb.06) Disregarded and Will Not Effect Tax-Exempt 8 BET 51, May/June 06
Status, by Patrick B rowne, Janet Jardin, &
Corporations Ownership Change Under Section 382 Results
Carol Kulish Harvey, 8 BET 60, Mar./Apr. 06
from Sale of Stock by One Brother to Anoth-
Advances to CEO Treated as Loans Rather than IRS Denies Time Extension to Elect Treatment as er, by Steven |. Klein & Stephen R. Looney,
as Constructive Dividends, by Steven |. Klein a Disregarded Entity, by Steven |. Klein & 8 BET 48, May/June 06
& Stephen R. Looney, 8 BET 49, Jan./Feb. 06 Stephen R. Looney, 8 BET 59, May/June. 06
Partnerships
Corporation's Business of Providing Valuation Proposed Regs Clarify Eligibility for Foreign Tax
Opinions Is Not a Consulting Service for Pur- Credit, by Carol Kulish Harvey, Janet Jardin, ABA Tax Section Comments on Assets-Over
poses of Section 448(d)(2), by Steven I. Klein & Jill Robertson-Li, & Matthew J. Sullivan, 8 Partnership Mergers, by Lily Hoang, Carol
Stephen R. Looney, 8 BET 52 May/June 06 BET 58, Nov./Dec. 06 Kulish Harvey, Alyson Outenreach, & Matthew
J. Sullivan, 8 BET 55, July/Aug. 06
Court Rejects Taxpayer's Attempt to Rescind Proposed Regs Treat Disregarded Entities as
Section 83(b) Election by Steven |. Klein & Regarded for Employment and Excise Taxes Application of Section 6695(d) Return Preparer
Stephen R. Looney, 8 BET 47, Jan./Feb. 06 Purposes, by Steven |. Klein & Stephen R. Penalty Corporation’s Distributive Share of
Final Regs Unchanged on Distributions of Stock Looney, 8 BET 59, Jan./Feb. 06 Partnership's Gross Receipts Do Not Con-
stitute Passive Investment Income, by Steven
From Qualified Trust for Purposes of Section Estate and Personal Planning |. Klein & Stephen R. Looney, 8 BET 56,
382 Ownership Change, by Steven |. Klein &
Stephen R. Looney, 8 BET 53, Sept./Oct. 06 Individual income Tax Planning With a FLP/LLC, Jan./Feb. 06
by Reed W. Easton, 8 BET 24, Mar./Apr. 06 Comment Requested on Potential Changes to
IRS Revokes 1974 “Zero-Basis” Ruling, by
Patrick Browne, Janet Jardin, & Carol Kul- IRS Continues its Section 2036 Assault on Fam- Distributions Treated as Sales or Exchanges
ish Harvey, 8 BET 52, Mar./Apr. 06 ily Limited Partnerships: Part 2, by Jerald Under Section 751(b), by Lily Hoang, Caro! Kul-
David August, James Dawson, and Guy Max- ish Harvey, Jill Roberson-Li, & Matthew J. Sul-
IRS Withdraws 2002 Proposed Regulations on field, 8 BET 6, Jan./Feb. 06 livan, 8 BET 56, July/Aug. 06
Treatment of Lost Basis, by Steven |. Klein &
IRS Continues its Section 2036 Assault on Fam- Disguised Sales of Property to a Partnership, by
Stephen R. Looney, 8 BET 54, Sept./Oct. 06
ily Limited Partnerships: Part 3, by Jerald Richard W. Harris, 8 BET 36, Mar./Apr. 06
Proposed Regulation’s Treatment of Basis of David August, James Dawson, Guy Maxfield, District Court Rules that Contingent Liabilities
Redeemed Stock if Redemption is Treat- & Eugene F. Pollinguer, Jr., 8 BET 6, May/June Are Not Section 752 Liabilities and Invali-
ed as a Dividend Distribution Under Sec- 06 dates Retroactive Application of Section 752
tion 301, by Steven |. Klein & Stephen R.
Estate and Gift Regulations, by Carol Kulish Harvey, Janet
Looney, 8 BET 54, Sept./Oct. 06
Jardin, Jill Robertson-Li, & Mathew J. Sulli-
Regulation Requiring Cash Basis Accounting for Factors Considered in Satisfying Section 6166 van, 8 BET 50, Nov./Dec. 06
Active Trade or Business Requirement, by
Interest Payment to Related Foreign Pay
Steven |. Klein & Stephen R. Looney, 8 BET Donees’ Agreement to Pay Contingent Estate
ee Ruled Valid, by Steven |. Klein & Stephen
52, Sept/Oct. 06 Tax on Partnership Interests Reduces Amount
R. Looney, 6 BET 54, May/June 06
of Gift Tax, by Carol Kulish Harvey, Janet
Financial Instruments
Section 246A Did Not Limit Berkshire Hath Jardin, Jill Robertson-Li, & Matthew J. Sulli-
away’s Dividends Received Deduction, by Hedge Funds - Structure, Regulation, and Tax van, 8 BET 52, Nov./Dec. 06
Steven |. Klein & Stephen R. Looney, 8 Implications: Part |, Structure and Regulation, FAA Provides Guidance on Calculating the
BET 50, Jan./Feb. 06 by Jerald David August & Lawrence Cohen, Amount of Gross Income Omitted for Pur-
8 BET 14, July/Aug. 06
Split-off of Financial Services Business Did poses of Determining the Section 6501 Lim-
Not Cause Corporation to Become Qual- Hedge Funds -— Structure, Regulation, and Tax itation on Assessments, by Lily Hoang, Carol
ified PSC, by Steven |. Klein & Stephen R. Implications: Part 2, by Jerald David August Kulish Harvey, Alyson Outenreach, & Matthew
Looney, 8 BET 51, May/June 06 & Lawrence Cohen, 8 BET 6, Sept./Oct. 06 J. Sullivan, 8 BET 54, July/Aug.06
INDEX November/December 2006 BUSINESS ENTITIES 63
Former Partner Cannot Claim Section 165 Deduc- The Alternate Test for Economic Effect and the Sham Transactions Interest Deduction Denied on
tion Because Partnership Interest Was Not Qualified Income Offset, by Terence Floyd Cuff, Loans Used to Pay Premiums on Corporate
Proved Worthless or Abandoned, by Carol Kul- 8 BET 24, Nov/Dec. 06 Owned Life Insurance, by Steven |. Klein &
ish Harvey, Janet Jardin, Jill Robertson-Li, & Stephen R. Looney, 8 BET 60, May/June 06
Pass-Thrus
Matthew J. Sullivan 8 BET 53, Nov./Dec. 06 Taxpayers Sale of Stock to Foreign Corp. Lacked Eco-
IRS Rules on Treatment of Parent Corporation's Pay- IRS Advises Fiscal Year Partnerships and S Corpo- nomic Substance, by Steven I. Klein & Stephen
ment to Partnership, by Lily Hoang, Carol Kulish rations with Respect to Recently, by Patrick R. Looney, 8 BET 62, May/June 06
Harvey, Alyson Outenreach, & Matthew J. Sul Browne, Janet Jardin, & Carol Kulish Harvey, 8 Shop Talk
livan, 8 BET 54, July/Aug. 06 BET 51, Mar/Apr. 06
The Alternative Test for Economic Effect and the
Memo on Low-Income Housing Limited Partner- IRS Releases Draft Schedules M-3 for S Corporations Qualified Income Offset, by Terence Floyd Cuff,
ships, by Lily Hoang, Carol Kulish Harvey, Alyson and Partnerships, by Patrick Browne, Janet 8 BET 24, Nov./Dec.06
Outenreach, & Matthew J. Sullivan, 8 BET 53, Jardin, & Carol Kulish Harvey, 8 BET 50, Mar/Apr.
July/Aug. 06 06 State Tax
Partner Must Report Income Regardless of Dis- Recently Enacted Technica! Corrections Legislation ‘Former’ Clients and Changes in Law, by Thomas
puted Amount of Distributive Share, by Patrick Includes Items Relevant to Passthrough Entities, E. Rutledge & Allan W. Vestal 8 BET 40,
Browne, Janet Jardin, & Carol Kulish Harvey, 8 July/Aug.06
by Patrick Browne, Janet Jardin, & Carol Kulish
BET 56 Mar./Apr. 06 Harvey, 8 BET 49, Mar/Apr. 06 LLCs and RLLPsUpdate for 2006, Bruce P. Ely,
President Signs Law Prohibiting State Tax on Retire- Christopher R. Grissom, & Matthew S. Houser,
ment Benefits to Nonresident Partners, by Car- Section 199 Proposed Regs, by Steven |. Klein & 8 BET 28, July/Aug. 06
ol Kulish Harvey, Janet Jardin, Jill Roberson-Li, Stephen R. Looney, 8 BET 58, Jan./Feb. 06 Subchapter S$
& Mathew J. Sullivan, 8 BET 52, Nov./Dec. 06 Section 470 Relief for Partnerships With Tax-Exempt
Administrative Dissolution and Reincorporation Does
Proposed Regs Address Application of Portfolio Partners Extended One Year, by Patrick Browne, Not Terminate S Election, by Steven |. Klein &
Interest Exception to Partnerships, by Steven | Janet Jardin, & Carol Kulish Harvey, 8 BET 51 Stephen R. Looney, 8 BET 50, Sept./Oct. 06
Klein & Stephen R. Looney, 8 BET 61, Sept/Oct Mar/Apr. 06
06 IRS Rules on Transaction Where S Corporation
Partnerships/S Corporations Restructured Prior to Sale of One of Its Busi-
Proposed Regs on Partnership Interests Issued for CCA Reverses IRS on Refunds of Required Pay- nesses by Carol Kulish Harvey, Janet Jardin. Jill
Services, by Blake D. Rubin & Andrea Macintosh ments, by Steven |. Klein & Stephen R. Looney, Robertson-Li, & Mathew J. Sullivan, 8 BET 54,
Whiteway, 8 BET 18, May/June 06 Nov./Dec. 06
8 BET 56, May/June 06
Proposed Regs Regarding Partnership Allocations of IRS Takes Aggressive Positions in Back-to-Back
Look-Through Entity Partners, by Patrick Browne, Real Estate Loan Area, by Steven |. Klein & Stephen R.
Janet Jardin, & Caro! Kulish Harvey, 8 BET 55 Factors Considered in Satisfying Section 6166 Active Looney, 8 BET 46, Sept./Oct. 06
Mar/Apr. 06 Trade or Business Requirement for Real Estate IRS Waives Five-Year Waiting Period for Reelection
Second Circuit in Tax Shelter Case Agrees with IRS Holdings, by Steven I. Klein & Stephen R. Looney, of S Corp. Status, by Steven |. Klein & Stephen
that Foreign Banks Are Not Equity Partners, by 8 BET 52, Sept./Oct. 06 R. Looney, 8 BET 55, May/June 06
Carol Kulish Harvey, Janet Jardi, Jill Robertson-
Reimbursement Arrangements for Employees Pro- Members of a Family Treated as Single Sharehold-
Li, & Matthew J. Sullivan, 8 BET 49, Nov./Dec
viding Services to Subsidiaries Does Not Con- er for Purposes of Counting the Number of S
06
stitute Gross Income to REIT, by Steven I. Klein Corporation Shareholders, by Patrick Browne,
Simplified Withholding Procedures for Foreign Part- & Stephen R. Looney, 8 BET 57, Sept/Oct. 06 Janet Jardin, & Carol Kulish Harvey, 8 BET 53,
nerships, by Patrick Browne, Janet Jardin, & Mar/Apr. 05
Caro! Kulish Harvey, 8 BET 56, Mar/Apr. 06 Nhen Is a Lease Not a Lease? The Tax Implications
of a Lease, by Eric Christian, 8 BET 18 Mar/Apr Merger of S Corporation into LLC Taxed as Corpo-
Sing Your Way Clearly Through the Array of Part- ration Qualifies as ‘F’ Reorganization and Main-
06
nership Distribution Rules, by Bruce J. Belman, tains S Status, by Steven |. Klein & Stephen R.
8 BET 38, Sept/Oct. 06 Restricted Property Looney, 8 BET 50, Sept./Oct. 06
TEFRA Time Limitation Does Not Shorten Three-Year Rev. Proc. 2006-31 Addresses Revocation of Sec- Tax Shelters
Time Limitation of Section 6501, by Carol Kul- tion 83(b) Election, by Steven |. Klein & Stephen
A New Standard for the Economic Substance to be
ish Harvey, Janet Jardin, Jill Robertson-Li& R. Looney, 8 BET 60, Sept/Oct. 06 Applied by the Court of Claims, by James Daw-
Matthew J. Sullivan, 8 BET 51, Nov/Dec/ 06
Sales/Exchanges son. 8 BET 36, Nov./Dec. 06
Treatment of Parent Corporation’s Payment to Part-
nership, by Lily Hoang, Carol Kulish Harvey, Corporation Must Recognize Gain on Loan of Pre- Telecommunications
Alyson Outenreach, & MatthewJ . Sullivan, 8 BET paid Forward Shares, by Steven |. Klein & What's New in Telecom Challenges, Annette Nellen
54 53 July/Aug. 06 Stephen R. Looney, 8 BET 57, May/June 06 8 BET 4, July/Aug. 06
AUTHOR INDEX Demrew, Emebeth, 8 BET 44, July/Aug. 06 Klein, Steven |. &
Looney, Stephen R., 8 BET 46, Sept./Oct. 06
Easton, Reed W., 8 BET 24, Mar./Apr. 06
August, Jerald David, Ely, Bruce P., Grissom, Lurie, Alvin D., 8 BET 32, Mar./Apr. 06
Dawson James, Christopher R. & Houser, Lurie, Alvin D., 8 BET 20, Sept./Oct.06
& Maxfield, Guy, 8 BET 6, Jan./Feb. 06
Matthew S., 8 BET 28, July/Aug. 06 McNulty, Mary A. &
August, Jerald David, Dawson, Kwon, Michelle M 8 BET 28 May/June 06
James, Maxfield, Guy, Geu, Thomas Earl &
& Pollinger, Jr., Eugene F., 8 BET 6 May/June 06 Rutledge, Thomas E., 8 BET 44, May/June 06 Melone, Matthew A., 8 BET 18, Jan./Feb. 06
August, Jerald David Harris, Richard W., 8 BET 36, Mar./Apr. 06 Melone, Matthew A., 8 BET 4, Mar./Apr. 06
& Cohen, Lawrence, 8 BET 14,July/Aug. 06 Harvey, Carol Kulish, Nellen, Annette, 8 BET 4, July/Aug. 06
August, Jerald David Jardin, Janet, Robertson-Li, Purcell, Tom, Zarzar, Robert A.,
& Cohen, Lawrence, 8 BET 6, Sept./Oct. 06 Jill, & Sullivan, Michael J., 8 BET 49 Nov/Dec. 06 & Manousos, George, 8 BET 3 Nov./Dec. 06
Belman, Bruce J., 8 BET 38, Sept./Oct. 06 Hoang, Lily, Harvey, Rutledge, Thomas E. &
Browne, Patrick, Carol Kulish, Outenreach, Vestal, Allan W., 8 BET 40 July/Aug. 06
Jardin, Janet, and Alyson, & Sullivan, Michael J., 8 BET 53, July/Aug. 06 Rubin, Blake D. & Whiteway,
Harvey, Carol Kulish 8 BET 49, Mar./Apr. 06 Andrea Macintosh, 8 BET 16 May/June 06
Klein, Steven |. &
Christian, Eric, 8 BET 18, Mar./Apr. 06 Looney, Stephen R., 8 BET 45, Jan./Feb. 06 Sheppard, Lee A., 8 BET 40, Jan./Feb. 06
Cuff, Terence Floyd 8 BET 24, Nov./Dec. 06 Klein, Steven |. & Stein, Jacob, 8 BET 28, Sept./Oct. 06
Dawson, James 8 BET 36, Nov./Dec. 06 Looney, Stephen R., 8 BET 48, May/June 06 Thomas II., Gerald V., 8 BET 28, Jan./Feb. 06
64 BUSINESS ENTITIES November/December 2006 INDEX
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