Volume 9, Issue 3 – October 2016

  • IRS Issues Proposed Regs on RIC Commodity Investments
  • Highlights of Presidential Candidates Tax Plans
  • Report on Current Events for 385
  • Abdullah Saleg Alshekh v. Jacob Lew
  • Final Regulations Clarify the Definition of “Real Property” Under the REIT Rules
  • Rev. Proc. 2016-45: IRS Now Willing to Rule on Business Purpose and Device
  • New Regulations on Election in to New Partnership Audit Rules
  • Final Regs on Marital Status
  • MoFo in the News; Awards – Q3 2016

Volume 9, Issue 2 – August 2016

  • Section 385 Update: Comment Letters and Politics
  • PLR 201614009: REIT’s Like-Kind Exchanges Not Sales for Prohibited Transaction Safe Harbor
  • Proposed Changes to Qualified Intermediary Agreement
  • TD 9766: Partners in a Partnership Owning a DRE Subject to Self Employment Tax
  • Rev Proc 2016-31: Relief for Money Market Funds Receiving Amounts to Comply with New SEC Rules
  • T.D. 9771: Final Regulations on the Application of the Section 108 Bankruptcy and Insolvency Exclusions to Grantor Trusts and DREs
  • Proposed Regulations on Foreign-Owned DREs
  • House Republican Tax Reform Plan
  • MoFo in the News; Awards – Q2 2016

Volume 9, Issue 1 – May 2016

  • IRS Publishes Proposed Section 305(c) Regulations
  • IRS Backtracks on Recent “Bad Boy” Guarantee Memorandum
  • FAA 20161101F: Low-Risk Tax Credit Partnership Investor Isn’t Bona Fide Partner
  • PLR 201614026 Putting Bearer Student Loans Into a Limited Partnership to Create Registered Instruments for Federal Income Tax Purposes
  • Supreme Court Rules on REIT Diversity-of-Citizenship Jurisdiction Case
  • PLR 201609004: Property Sold by REIT as Part of a Liquidation Wasn’t Held Primarily for Sale to Customers
  • PLR 201605005: Certain Subpart F and PFIC Inclusions Are Qualifying Income to a REIT
  • Updated Presidential Candidate Tax Positions
  • MoFo in the News

Volume 8, Issue 4 – January 2016

  • IRS Provides RICs Alternatives to Account for Foreign Tax Refunds
  • Sixth Circuit Reverses Tax Court: A Foreign Currency Option Can Be a “Foreign Currency Contract”
  • Ruling Addresses Effects of Consent Payments on Contingent Debt
  • Extension of Dividend Equivalent Rules
  • Ruling Describes How to Account for Notice 2015-73 and Notice 2015-74 Basket Option Contracts
  • Omnibus Appropriations Act Makes Changes to FIRPTA
  • Tax Court Disallows Netting of Blocks of Stock in Reorganization
  • Supreme Court Grants Certiorari In REIT Citizenship Case
  • Tax Court Rules “Monogamy Payment” is Income
  • Presidential Candidates’ Tax Positions
  • MoFo in the News

Volume 8, Issue 3 – November 2015

  • Final and Temporary Dividend Equivalent Regulations Issued – Some Good, Some Bad, and Some Ugly
  • New IRS Guidance Limits Tax-Free Spin-Off Rulings – Implications for REIT Spin-Offs
  • Proposed Treasury Regulations Addressing Disguised Payments for Services Focus on Management Fee Waivers
  • IRS Issues Notice Announcing Intention to Require Gain Recognition on Certain Transfers of Property to Partnerships With Related Foreign Partners
  • IRS Issues Notice Extending Certain FACTA Effective Dates
  • New Notices for “Basket Contracts” Revoke and Replace July Notes
  • Professor Backs Whistleblower’s Claim that Vanguard Has Significant Tax Liability for Transfer Pricing Transgressions
  • MoFo in the News

Volume 8, Issue 2 – August 2015

  • IRS Releases Notices Designating Certain “Basket Contracts” as Listed Transactions and Others as Reportable Transactions of Interest
  • Final and Temporary Regulations on Notional Principal Contract Nonperiodic Payments
  • Validus Reinsurance Ltd. V. United States: Insurance Excuse Tax Doesn’t Apply to Foreign-to-Foreign Retrocessions
  • Webber v. Commissioner: Investor Control Doctrine in Life Insurance Contracts
  • Treatment of Noteholder Consent Payment
  • Sen. Rand Paul Files Suit Challenging FATCA
  • Publicly Traded Partnership Proposed Regulations
  • Senate Finance Committee Reports on Tax Reform
  • MoFo in the News

Volume 8, Issue 1 – May 2015

  • IRS Rules Debentures Are Part of Straddle; Interest Non-Deductible
  • Stock Abandonment Produces Ordinary Loss
  • Tax Consequences of Negative Interest Rates
  • Renewed Discussion of a Federal Consumption Tax
  • IRS Resumes PTP Rulings
  • House and Senate Bills Would Increase Then Decrease Estimated Tax Payments
  • MoFo in the News; Awards

Volume 7, Issue 4 – January 2015

  • Congress Passes Year-End Tax Extenders Bill
  • House Adopts New “Dynamic Scoring” Rule
  • Foreign Fund Engaged in Lending and Stock Distribution Not Protected by “Trading in Stock or Securities” Safe Harbor
  • IRS Addresses Distribution by Corporation Electing to be Treated as REIT
  • REIT Preferential Dividend
  • Reporting Requirement for Payments to LLCs
  • IRS Recharacterizes Offsetting Contracts
  • IRS Applies Section 956 Anti-Abuse Rule (Again) to Recharacterize Back-to-Back Loans
  • IRS Revisits Prior Letter Rulings; Disapproves of “Costless Collar” Transaction
  • PLI Webinar: Moving Away From The C-Corporation: Understanding REITs, MLPs, and PTPs
  • MoFo in the News; Awards

Volume 7, Issue 3 – November 2014

  • IRS Clarifies Deadline for Correcting
  • Consent Payment Modifying Contingent Payment Debt Instrument Must be Tested for Significance
  • IRS Concludes Correction of Error an Accounting Change
  • Rev. Proc. 2014-51 Relaxes REIT 75% Asset Test Safe Harbor for Distressed Mortgages
  • Consolidated Group Treated as Single Entity for Purposes of IRC § 382(l)(5) Bankruptcy Exception
  • Domestic Partnership Converted to Foreign Corporation Deemed Tax-Free Transfer of Assets
  • Fifth Circuit Rejects Partnerships as Shams, Disallows $1 Billion in Deductions and Remands for Consideration of Penalties
  • Notice 2014-58 – Additional Guidance under the Codified Economic Substance Doctrine and Related Penalties
  • MoFo in the News

Volume 7, Issue 2 – July 2014

  • As FATCA Begins, IRS Rolls out Withholding Forms, Increases IGA Count
  • IRS Issues Final Circular 230 Rules Simplifying Written Tax Advice Requirements
  • Mortgage CCA Raises More Questions than It Answers
  • IRS Concludes Change from Treating Securities as Options Is an Accounting Method Change Requiring Adjustment
  • Proposed Regulations Clarify the Definition of "Real Property" under the REIT Rules
  • IRS Addresses Information Reporting Requirements for Bank's Fee Credit Programs
  • Bitcoin Not Reportable on 2013 FBARs
  • IRS Makes Modifications to Voluntary Disclosure Program
  • IRS Applies Section 956 Anti-Abuse Rule
  • MoFo in the News

Volume 7, Issue 1 – April 2014

  • FATCA Update: IRS Releases New Regulations, New Forms, and New IGAs
  • No Rule Policy on MLPs
  • IRS Introduces New Grandfather Rule for Equity-Linked Instruments Under Section 871(m)
  • Rev. Proc. 2014-20: Safe Harbor for Section 108(c)(3)(A)
  • FAA 20141001F: Underwriting Costs Must Be Capitalized
  • Validus Reinsurance Ltd. v. United States
  • Chairman Camp Releases “Discussion Draft” Targeting REITs
  • IRS Issues Guidance on Virtual Currency
  • MoFo in the News

Volume 6, Issue 4 – January 2014

  • FATCA Developments: Treasury Signs IGAs; IRS Finalizes FFI Agreement
  • IRS Releases Final and New Proposed “Dividend Equivalent” Regs
  • IRS Issues Final Swap Assignment Regs
  • IRS Issues Final “Net Investment Income” Regs
  • CCA 201343019: Dividends from Cypriot Holding Company Entitled to Preferential Rates
  • International Tax Reform
  • Court Dimsisses Challenge to Interest-Reporting Regulations
  • IRS Resumes REIT Conversion Rulings
  • Pilgrim’s Pride v. Commissioner, 141 T.C. 17 (2013): Tax Court Holds Abandoned Stock Generates Capital Loss
  • Discharge of Acquisition Indebtedness Exclusion Ended December 31, 2013
  • Events and Awards

Volume 6, Issue 3October 2013

  • Bailout Bill Tax Provisions
  • Borrower’s Default on Securities Loan Doesn’t Trigger Taxable Event to Lender
  • Credit Crunch Results in Suspension of AHYDO Rules
  • Section 1032 Disallows Subsidiary Loss on Forward Contract Involving Parent Stock
  • Foreign Tax Credit Regulations
  • Legislative Changes Affect REITs
  • Senate Targets Dividend Withholding Tax Abuse
  • MoFo in the News
  • The Learning Annex – Options Pricing and the Taxation of Derivatives
  • Reporting Discharges of Debt
  • MoFo in the News
  • Press Corner

Volume 6, Issue 2 – July 2013

  • IRS Leaves Potential REIT Conversions Hanging
  • IRS Proposes to Relax Wash Sale Rules for Floating NAV Money Market Fund Share Redemptions
  • IRS Confirms Mexican Land Trust Is Not Trust Under U.S. Tax Law
  • Third Circuit: S Corp Flow-Through Tax Treatment Not Property of Debtor Under the Bankruptcy Code
  • Treasury Signs FATCA IGAs with Spain, Germany and Japan
  • Structured Finance Transaction Treated as “Conversion Transaction,” Taxed as Straddle
  • IRS Limits Taxpayer’s Holding Period, Denies DRD
  • IRS Disallows DRD on Substance Over Form Grounds
  • Acquisition of Medium Term Notes by Foreign Bank’s U.S. Branch Eligible For “10% Rule”
  • U.S. District Court Finds Tax Opinion Condition Could Not Have Been Met in MBIA v. Patriarch Partners-
  • MoFo in the News
  • Awards

Volume 6, Issue 1 – April 2013

  • House Ways & Means Committee Proposal Would Require Mark-to-Market for Derivatives and Modify Certain Other Tax Rules
  • After Months of Anticipation, Final FATCA Regulations Released
  • Congress Considers Financial Transaction Tax Bill
  • Proxy Agreement No Barrier to Affiliated Group Membership
  • Reorganization Plan Qualifies for Bankruptcy Exception to NOL Limitation Rules
  • Holding the PHONE?—Equity Linked Debt Instrument Forms Part of a Straddle
  • IRS Releases New FATCA Form
  • Ambac Seeks Bankruptcy Court Approval of Settlement with Government Resolving Dispute Arising out of Tax Treatment of Credit Default Swaps

Volume 5, Issue 4January 2013

  • Fiscal cliff Diving a.k.a. American Taxpayer Relief Act
  • CoCo Developments
  • Tax Effect of Money Market Fund Proposals
  • IRS Issues Final Regulations on Publicly Traded Property
  • Assessment of Income from Excess Loss Account Barred
  • Covered Bond Act Amended by House Committee
  • IRS Provides Guidance to the Field on Economic Substance for Securities Lending
  • IRS Rolls Out FATCA Intergovernmental Agreements
  • IRS Proposes Regulations on New Medicare Tax
  • MoFo in the News

Volume 5, Issue 3October 2012

  • Obama v. Romney Tax Plans
  • IRS Rules That Excess Mortgage Servicing is “Good” Asset and Produces “Good” Income for REIT purposes
  • Tax Court Finds Arrangement to be Equity for Tax Purposes in Pepsico Puerto Rico, Inc. c. Commissioner  - Court Addresses Demutualization Tax Treatment in Dorrance v. United States
  • United States and United Kingdom Enter into FATCA Cooperation Agreement
  • IRS Issues Guidance on Dealer Status
  • IRS Releases Regulations on Integrated Hedging Transactions of Qualifying Debt
  • Tax Court: TurboTax Not to Blame for Underreporting of Income
  • More Uncertainty Regarding Medicare Tax
  • MoFo in the News

Volume 5, Issue 2July 2012

  • IRS Advisory Memo Finds Parent Cannot Claim Subsidiary’s Stock is Worthless While Tax Refund is Pending.
  • Tax Court Characterizes Preferred Equity as Debt in Hewlett Packard Case
  • NA General Partnership v. Commissioner Addresses Debt-Equity Characterization of Related-Party Advocates
  • IRS Rules that Money Market Fund Shares as “Cash” for REIT Asset Test Purposes
  • Redemption of Trust Preferreds Following New Federal Reserve
  • Draft Form W-8 Released for FACTA
  • IRS Issues Guidance on When COD Income Is “Qualifying Income” For Purposes of the Publicly Traded Partnership Provisions implementation Capital Rules
  • U.S. Treasury and Japan/Switzerland Announce They Will Negotiate Toward a “Third Way” for FACTA Compliance
  • Press Corner
  • MoFo in the News

Volume 5, Issue 1May 2012

  • IRS Issues Tech Advice Addressing Restructured Call Options
  • Second Circuit Rejects GE Capital Deal, Again
  • IRS Releases Field Attorney Advice Disallowing Benefits of a Dividends-Received Deduction Transaction
  • Treasury Publishes Highly Anticipated “Withholdable Payment” FACTA Regulations and Outlines International Cooperation Alternative
  • IRS Issues Guidance on Registered Bonds Days Before Repeal of Bearer Bond Exception
  • MoFo in the News

Volume 4, Issue 4February 2012

  • Treasury Releases Temporary and Proposed Regulations on Withholding under Equity Swaps
  • IRS Releases Temporary and Proposed Regulations on Reporting of Specified Foreign Financial Assets
  • IRS Issues Private Letter Ruling on Look-Through Approach for Purposes of Worthless Stock Deduction
  • IRS Private Letter Ruling: Conversion of Bonds to a New Interest Rate Period is Not a Significant Modification
  • New Proposed Regulations Clarify Scope of Section 892 and Create De Minimis Exception for Inadvertent Commercial Activity
  • IRS Guidance on REMICs and REITs with Respect to the Home Affordable Refinance Program
  • Tenth Circuit Affirms Tax Court’s Holding in Anschutz Co. v. Commissioner
  • IRS Technical Advice: Cumulative Preferred Stock that Pays Accumulated Dividends at Redemption is Section 1504(a)(4)Preferred Stock
  • IRS Provides Transitional Relief from Reporting Obligations of Corporate Actions
  • The Classroom –Legging-In and Legging-Out of and Integrated Transaction
  • MoFo in the News

Volume 4, Issue 3 October 2011

  • Proposed Regulations Would Expand and Clarify What Contracts Qualify as NPCs for Tax Purposes
  • The Handwriting is on the Wall
  • Recognition of Unamortized Hedge Gain Could Not Be Deferred
  • Ninth Circuit Affirms Samueli Ruling
  • Countdown to March 18, 2012: Are You Ready?
  • IRS and Treasury Release 2011-2012 Priority Guidance Plan
  • Even Though Republicans Now Control Ways and Means Committee – Accounting Gimmicks Still Used as    Pay-Fors
  • Tanning Tax: Was it Worth it?
  • GOP Presidential Candidates’ Tax Positions
  • The Classroom – Integrating a Debt Instrument with a Hedge into a Synthetic Debt Instrument
  • MoFo in the News

Volume 4, Issue 2July 2011

  • IRS Announces Phased Implementation of FATCA
  • The Gang of Six
  • IRS Issues Supplemental Guidance on FATCA Reporting and Withholding Requirements
  • IRS Temporarily Suspends Information Reporting Requirements
  • Third Circuit Affirms Schering-Plough Corp. Ruling in Merck & Co., Inc. v. U.S
  • Temporary and Proposed Regulations Issued on Transfer and Assignment of Derivative Contracts

Volume 4, Issue 1 – April 2011

  • IRS Reverses its Position on Closing a Forward with Borrowed Stock
  • Equity Units Exchange Offer
  • Repurchase Premiums and Consent Fees
  • Reporting Obligations for Corporate Actions Continued
  • Withholding on ADR Fees
  • Repeal of Expanded Form 1099 Information Reporting Requirement
  • Another Derivium Capital Case
  • Proposed Regulations for COD Income Exceptions
  • Press Corner
  • MoFo in the News
  • FrankNDodd

Volume 3, Issue 4January 2011

  • 2010 Tax Relief Act
  • Knock-Out Option Treated as Direct Ownership of Underlying
  • Tax System Overhaul Recommended by Deficit Reduction Commission
  • Proposed Regulations Clarify and Expand Scope of “Publicly Traded”
  • Short Form HIRE Act Protocol
  • Repatriation Holiday on the Horizon?
  • RIC Modernization Provisions
  • Modification of Mortgage Loans – New REIT Safe Harbor
  • IRS Reporting Obligations for Corporate Actions
  • Press Corner
  • MoFo in the News

Volume 3, Issue 3 October 2010

  • Prepaid Forward Plus Stock Loan Equals Sale According to U.S. Tax Court
  • IRS Issues Initial Guidance on FATCA Withholding and Reporting
  • IRS Issues Economic Substance “Guidance”
  • ISDA 2010 HIRE Act Protocol
  • Small Business Jobs Act Affects Source Rules for Guarantee Fees
  • Medicare Tax – On the Sale of a Principal Residence?
  • Did You Catch That, Again?
  • The Classroom--Fixed-to-Floaters
  • Press Corner
  • MoFo in the News

Volume 3, Issue 2July 2010

  • The Dodd-Frank Act – Trust Preferreds, Covered Bonds, and Section 1256 Contracts
  • Proposed Regulations Clarify Ambiguity in Debt Modification Regulations
  • Summitt v. Comm’r – Foreign Currency Options Are Not Section 1256 Contracts
  • Calloway v. Comm’r – Purported Stock Loan Treated as Sale
  • Tax Patents – Update on In Re Bilski
  • From Extender’s Act to American Jobs and Closing Tax Loopholes Act to Nowhere
  • The Classroom – RICs and Commodity Linked Structured Notes
  • Press Corner
  • MoFo in the News

Volume 3, Issue 1April 2010

  • Health Care Act Revenue Raisers
  • HIRE Act FATCA Recap
  • Did You Catch That?
  • IRS Issues Industry Director Directive on Total Return Swaps
  • Container Corp. v. Commissioner: No U.S. Withholding Tax on Payment of Guaranty Fees by U.S. Subsidiary to Foreign Parent
  • Update on Contingent Capital
  • The Classroom: Reopening Structured Notes
  • Press Corner
  • MoFo in the News

Volume 2, Issue 4December 2009

  • Tax Extenders Act of 2009 Includes FATCA
  • IRS Memorandum: Loan Origination by Foreign Entity Through U.S. Intermediary Subject to U.S. Tax
  • Red Eyes Contingent Capital
  • The Classroom: Exploring the Boundaries of Variable Rate Debt Instruments
  • U.S. Continues to Extend and Expand Relief Through the Tax Code
  • Proposed Bill Seeks to Modernize Tax Treatment of RICs
  • Press Corner
  • MoFo in the News

Volume 2, Issue 3October 2009

  • New Section 108(i) Guidance – An Executive Summary
  • IRS Lends Public-Private Investment Program a Helping Hand
  • Permissive Guidance on Commercial Mortgage Loan Modifications
  • Schering-Plough Corp. v. United Stated
  • “Enhanced” Trust Preferred Securities: A-Ok?
  • Senator Ron Wyden’s “Oil Bill”
  • A Summary Comparison of BDCs and REITs
  • Learning Annex-A Primer on Foreign-Currency Linked Structured Notes
  • Press Corner
  • MoFo in the News

Volume 2, Issue 2June 2009

  • Raising Capital and Mending Capital Structures on Wall Street
  • To Accrue or not to Accrue – Market Discount and Distressed Debt
  • Revenue Procedure 2009-23 and Notice 2009-36 – The IRS on HAMP
  • 13 Administration Proposals for Tax Reform
  • Modifications of Nondebt Derivatives
  • The Learning Annex – Debt Modifications and the Tax Law
  • Samueli – A Securities Lending Transaction Gone Bust
  • Press Corner
  • MoFo in the News

Volume 2, Issue 1March 2009

  • Distressed Debt Buybacks and Restructurings – It’s Easy, Unless It’s Not
  • The Obama Budget
  • A Note on APB 14-1 (Converts)
  • Stimulus Bill Tax Provisions – An Executive Summary
  • Madoff Matters – What Tax Relief?
  • The Learning Annex – A Primer on Debt Reopenings
  • MoFo in the News
  • Press Corner

Volume 1, Issue 4December 2008

  • Tax Law and the Credit Crunch – An Executive Summary
  • 101 Events that Rocked the World – A Timeline of Significant Market Events
  • The Temporary Liquidity Guarantee Program and Bearer Debt
  • The New Administration’s Tax Plan – What to Expect
  • In re Bilski – The End of Patenting Tax Strategies?
  • The Learning Annex – Tax Patents Explained
  • MoFo in the News
  • Press Corner

Volume 1, Issue 3 September 2008

  • Bailout Bill Tax Provisions
  • Borrower’s Default on Securities Loan Doesn’t Trigger Taxable Event to Lender
  • Credit Crunch Results in Suspension of AHYDO Rules
  • Section 1032 Disallows Subsidiary Loss on Forward Contract Involving Parent Stock
  • Foreign Tax Credit Regulations
  • Legislative Changes Affect REITs
  • Senate Targets Dividend Withholding Tax Abuse
  • MoFo in the News
  • The Learning Annex – Options Pricing and the Taxation of Derivatives
  • Reporting Discharges of Debt
  • MoFo in the News
  • Press Corner

Volume 1, Issue 2June 2008

  • Hybrids – An Update on Recent Mega Deals
  • Hybrids – Revenue Ruling 2003-97 in the News
  • Sovereign Wealth Funds – An Update
  • Credit Crunch Results in REMIC Relief
  • Auction Rate Securities – The IRS Provides For Liquidity
  • MoFo in the News
  • The Learning Annex: Demystifying Section 1260 (Constructive Ownership Transactions)
  • Developments in the Samurai Market
  • Variable Prepaid Forward Contracts Plus Share Loans – What if the IRS is Right?
  • Press Corner

Volume 1, Issue 1  March 2008

  • Exchange Traded Notes – A Tax-Favored Investment Vehicle?
  • MoFo “Developments in Hybrid Capital and Current Issues”
  • Hybrids – A U.S. Federal Income Tax Review
  • Hybrids – A Survey of Recent Mega Deals
  • Investing in the United States – A Sovereign Exemption
  • The Learning Annex: A Taxonomy for Structured Notes – Type 1, Type 2 and Type 3 Notes
  • Structured Foreign Tax Credit TAM
  • Coordinated Issue Paper on Variable Prepaid Forward Contracts Plus Share Loans
  • Press Corner

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