Tax

Best of 2008: Tax

It was a taxing year in more ways than one. Here are our most popular articles on dealing with the IRS and state tax authorities.
CFO.com StaffDecember 29, 2008

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Year-end may be the best time to review corporate tax-related coverage. And CFO.com this year offered up a raft of timely information, often digging into consequences of the fourth-quarter collapse of credit markets and Wall Street’s descent into the realm of a back alley.

But far beyond those calamities, other stories — often by tax expert Robert Willens — helped provide guidance both on federal and state trends, and on the steps that companies are taking toward creating a sensible tax strategy.

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Court Precedent Looms over IRS “Crisis” Fix

In a move to stave off the effects of the credit crisis, the IRS extended the loan payback period for tax-free loans from foreign subsidiaries. But now another issue emerges that could wipe out that benefit.

Can Buybacks Reduce Corporate Tax Writeoffs?

HLTH’s Corporation’s repurchase program may constitute a change of ownership, and as a result shrink future tax benefits.

In the Bailout, Which Taxpayers Win?

The law that allows the Treasury Department to buy up toxic mortgage assets from banks and other institutions provides some tax relief — and some tax hits.

The Rules that Launched a Thousand Deals?

A recent cross-border merger met some thorny IRS requirements — including passing the Helen of Troy test — to capture tax-free status as a reorganization.

How to Disqualify a Pension Plan

Handing over your underfunded pension plan to a financial institution may cripple the plan’s tax benefit.

IRS Swats the Killer B

For the second time this summer, the IRS attacks a loophole that allows “effective repatriation” of profits without reporting the associated income.

Convertible Bond Rule Targets Earnings

The verdict is in on “Instrument C” bonds, and all is not rosy.

Tax Court: No Theft at WorldCom

The IRS wins a victory over a former Worldcom employee who tried to claim a tax deduction for losses sustained when the scandal-ridden company collapsed.

Did Subprime Woes Cause a Change of Heart at the IRS?

Fannie Mae and other mortgage loan originators and buyers get an unexpected windfall from the tax man.

The IRS Throws Down the Gauntlet on Executive Comp

Attorneys are up in arms about an IRS ruling that nixes corporate deductions for executive compensation.