941 2007 Employers Quarterly Federal Tax

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Title / link within
IntelliConnect                         Type        Description                                       Topic       TRC Paragraph (¶)
Accounting for Uncertainty in       Decision Tree This decision tree will assist users in           Accounting         18,200
Income Taxes                                      determining how taxpayers should account
                                                  for income tax positions that do not meet
                                                  the more-likely-than-not recognition
                                                  threshold.
Adjusted Applicable Federal Rates    Interactive   This interactive chart assists in determining    Accounting         20,120
- 2001 Interactive Chart                Chart      adjusted applicable federal rates (AFRs) for
                                                   2001. AFRs are used for many purposes,
                                                   such as for determining whether a loan is a
                                                   below-market rate loan, for determining
                                                   whether there is adequate stated interest
                                                   on a debt instrument, and for computing
                                                   the amount of the low-income housing
                                                   credit.


Adjusted Applicable Federal Rates    Interactive   This interactive chart assists in determining    Accounting         20,150
- 2002 Interactive Chart                Chart      adjusted applicable federal rates (AFRs) for
                                                   2002. AFRs are used for many purposes,
                                                   such as for determining whether a loan is a
                                                   below-market rate loan, for determining
                                                   whether there is adequate stated interest
                                                   on a debt instrument, and for computing
                                                   the amount of the low-income housing
                                                   credit.


Adjusted Applicable Federal Rates    Interactive   This interactive chart assists in determining    Accounting         20,180
- 2003 Interactive Chart                Chart      adjusted applicable federal rates (AFRs) for
                                                   2003. AFRs are used for many purposes,
                                                   such as for determining whether a loan is a
                                                   below-market rate loan, for determining
                                                   whether there is adequate stated interest
                                                   on a debt instrument, and for computing
                                                   the amount of the low-income housing
                                                   credit.


Adjusted Applicable Federal Rates    Interactive   This interactive chart assists in determining    Accounting         20,210
- 2004 Interactive Chart                Chart      adjusted applicable federal rates (AFRs) for
                                                   2004. AFRs are used for many purposes,
                                                   such as for determining whether a loan is a
                                                   below-market rate loan, for determining
                                                   whether there is adequate stated interest
                                                   on a debt instrument, and for computing
                                                   the amount of the low-income housing
                                                   credit.


Adjusted Applicable Federal Rates    Interactive   This interactive chart assists in determining    Accounting         20,240
- 2005 Interactive Chart                Chart      adjusted applicable federal rates (AFRs) for
                                                   2005. AFRs are used for many purposes,
                                                   such as for determining whether a loan is a
                                                   below-market rate loan, for determining
                                                   whether there is adequate stated interest
                                                   on a debt instrument, and for computing
                                                   the amount of the low-income housing
                                                   credit.




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Title / link within
IntelliConnect                        Type        Description                                       Topic       TRC Paragraph (¶)
Adjusted Applicable Federal Rates   Interactive   This interactive chart assists in determining    Accounting         20,270
- 2006 Interactive Chart               Chart      adjusted applicable federal rates (AFRs) for
                                                  2006. AFRs are used for many purposes,
                                                  such as for determining whether a loan is a
                                                  below-market rate loan, for determining
                                                  whether there is adequate stated interest
                                                  on a debt instrument, and for computing
                                                  the amount of the low-income housing
                                                  credit.


Adjusted Applicable Federal Rates   Interactive   This interactive chart assists in determining    Accounting         20,300
- 2007 Interactive Chart               Chart      adjusted applicable federal rates (AFRs) for
                                                  2007. AFRs are used for many purposes,
                                                  such as for determining whether a loan is a
                                                  below-market rate loan, for determining
                                                  whether there is adequate stated interest
                                                  on a debt instrument, and for computing
                                                  the amount of the low-income housing
                                                  credit.


Adjusted Applicable Federal Rates   Interactive   This interactive chart assists in determining    Accounting         20,330
- 2008 Interactive Chart               Chart      adjusted applicable federal rates (AFRs) for
                                                  2008. AFRs are used for many purposes,
                                                  such as for determining whether a loan is a
                                                  below-market rate loan, for determining
                                                  whether there is adequate stated interest
                                                  on a debt instrument, and for computing
                                                  the amount of the low-income housing
                                                  credit.


Adjusted Applicable Federal Rates   Interactive   This interactive chart assists in determining    Accounting         20,360
- 2009 Interactive Chart               Chart      adjusted applicable federal rates (AFRs) for
                                                  2009. AFRs are used for many purposes,
                                                  such as for determining whether a loan is a
                                                  below-market rate loan, for determining
                                                  whether there is adequate stated interest
                                                  on a debt instrument, and for computing
                                                  the amount of the low-income housing
                                                  credit.


Applicable Federal Rates - 2001     Interactive   This interactive chart assists in determining    Accounting         20,110
Interactive Chart                      Chart      the applicable federal rate (AFR) for 2001.
                                                  AFRs are used for many purposes, such as
                                                  for determining whether a loan is a below-
                                                  market rate loan, for determining whether
                                                  there is adequate stated interest on a debt
                                                  instrument, and for computing the amount
                                                  of the low-income housing credit.




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                                                                                                       IntelliConnect
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                                                                                                for Tax Research Consultant

Title / link within
IntelliConnect                      Type        Description                                       Topic       TRC Paragraph (¶)
Applicable Federal Rates - 2002   Interactive   This interactive chart assists in determining    Accounting         20,140
Interactive Chart                    Chart      the applicable federal rate (AFR) for 2002.
                                                AFRs are used for many purposes, such as
                                                for determining whether a loan is a below-
                                                market rate loan, for determining whether
                                                there is adequate stated interest on a debt
                                                instrument, and for computing the amount
                                                of the low-income housing credit.




Applicable Federal Rates - 2003   Interactive   This interactive chart assists in determining    Accounting         20,170
Interactive Chart                    Chart      the applicable federal rate (AFR) for 2003.
                                                AFRs are used for many purposes, such as
                                                for determining whether a loan is a below-
                                                market rate loan, for determining whether
                                                there is adequate stated interest on a debt
                                                instrument, and for computing the amount
                                                of the low-income housing credit.




Applicable Federal Rates - 2004   Interactive   This interactive chart assists in determining    Accounting         20,200
Interactive Chart                    Chart      the applicable federal rate (AFR) for 2004.
                                                AFRs are used for many purposes, such as
                                                for determining whether a loan is a below-
                                                market rate loan, for determining whether
                                                there is adequate stated interest on a debt
                                                instrument, and for computing the amount
                                                of the low-income housing credit.




Applicable Federal Rates - 2005   Interactive   This interactive chart assists in determining    Accounting         20,230
Interactive Chart                    Chart      the applicable federal rate (AFR) for 2005.
                                                AFRs are used for many purposes, such as
                                                for determining whether a loan is a below-
                                                market rate loan, for determining whether
                                                there is adequate stated interest on a debt
                                                instrument, and for computing the amount
                                                of the low-income housing credit.




Applicable Federal Rates - 2006   Interactive   This interactive chart assists in determining    Accounting         20,260
Interactive Chart                    Chart      the applicable federal rate (AFR) for 2006.
                                                AFRs are used for many purposes, such as
                                                for determining whether a loan is a below-
                                                market rate loan, for determining whether
                                                there is adequate stated interest on a debt
                                                instrument, and for computing the amount
                                                of the low-income housing credit.




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Title / link within
IntelliConnect                         Type        Description                                       Topic       TRC Paragraph (¶)
Applicable Federal Rates - 2007      Interactive   This interactive chart assists in determining    Accounting         20,290
Interactive Chart                       Chart      the applicable federal rate (AFR) for 2007.
                                                   AFRs are used for many purposes, such as
                                                   for determining whether a loan is a below-
                                                   market rate loan, for determining whether
                                                   there is adequate stated interest on a debt
                                                   instrument, and for computing the amount
                                                   of the low-income housing credit.




Applicable Federal Rates - 2008      Interactive   This interactive chart assists in determining    Accounting         20,320
Interactive Chart                       Chart      the applicable federal rate (AFR) for 2008.
                                                   AFRs are used for many purposes, such as
                                                   for determining whether a loan is a below-
                                                   market rate loan, for determining whether
                                                   there is adequate stated interest on a debt
                                                   instrument, and for computing the amount
                                                   of the low-income housing credit.




Applicable Federal Rates - 2009      Interactive   This interactive chart assists in determining    Accounting         20,350
Interactive Chart                       Chart      the applicable federal rate (AFR) for 2009.
                                                   AFRs are used for many purposes, such as
                                                   for determining whether a loan is a below-
                                                   market rate loan, for determining whether
                                                   there is adequate stated interest on a debt
                                                   instrument, and for computing the amount
                                                   of the low-income housing credit.




Changing Accounting Methods         Decision Tree This decision tree will assist you in             Accounting         18,170
                                                  determining the appropriate method and
                                                  steps for changing a taxpayer's accounting
                                                  method. An accounting method change
                                                  includes any change in the overall plan of
                                                  accounting for gross income or deductions
                                                  and a change in any material item related
                                                  to the accounting for gross income and
                                                  deductions.


Identifying Properties Subject to   Decision Tree This decision tree assists in determining         Accounting         18,150
263A Rules                                        whether a particular type of property or
                                                  category of expense is subject to the
                                                  uniform capitalization (UNICAP) rules.
Other Federal Rates - 2001           Interactive   This interactive chart assists in determining    Accounting         20,130
Interactive Chart                       Chart      other federal rates (AFRs) for 2001. AFRs
                                                   are used for many purposes, such as for
                                                   determining whether a loan is a below-
                                                   market rate loan, for determining whether
                                                   there is adequate stated interest on a debt
                                                   instrument, and for computing the amount
                                                   of the low-income housing credit.




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                                                                                                  IntelliConnect
                                                                                            Interactive Research Aids
                                                                                           for Tax Research Consultant

Title / link within
IntelliConnect                 Type        Description                                       Topic       TRC Paragraph (¶)
Other Federal Rates - 2002   Interactive   This interactive chart assists in determining    Accounting         20,160
Interactive Chart               Chart      other federal rates (AFRs) for 2002. AFRs
                                           are used for many purposes, such as for
                                           determining whether a loan is a below-
                                           market rate loan, for determining whether
                                           there is adequate stated interest on a debt
                                           instrument, and for computing the amount
                                           of the low-income housing credit.




Other Federal Rates - 2003   Interactive   This interactive chart assists in determining    Accounting         20,190
Interactive Chart               Chart      other federal rates (AFRs) for 2003. AFRs
                                           are used for many purposes, such as for
                                           determining whether a loan is a below-
                                           market rate loan, for determining whether
                                           there is adequate stated interest on a debt
                                           instrument, and for computing the amount
                                           of the low-income housing credit.




Other Federal Rates - 2004   Interactive   This interactive chart assists in determining    Accounting         20,220
Interactive Chart               Chart      other federal rates (AFRs) for 2004. AFRs
                                           are used for many purposes, such as for
                                           determining whether a loan is a below-
                                           market rate loan, for determining whether
                                           there is adequate stated interest on a debt
                                           instrument, and for computing the amount
                                           of the low-income housing credit.




Other Federal Rates - 2005   Interactive   This interactive chart assists in determining    Accounting         20,250
Interactive Chart               Chart      other federal rates (AFRs) for 2005. AFRs
                                           are used for many purposes, such as for
                                           determining whether a loan is a below-
                                           market rate loan, for determining whether
                                           there is adequate stated interest on a debt
                                           instrument, and for computing the amount
                                           of the low-income housing credit.




Other Federal Rates - 2006   Interactive   This interactive chart assists in determining    Accounting         20,280
Interactive Chart               Chart      other federal rates (AFRs) for 2006. AFRs
                                           are used for many purposes, such as for
                                           determining whether a loan is a below-
                                           market rate loan, for determining whether
                                           there is adequate stated interest on a debt
                                           instrument, and for computing the amount
                                           of the low-income housing credit.




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Title / link within
IntelliConnect                       Type        Description                                       Topic       TRC Paragraph (¶)
Other Federal Rates - 2007         Interactive   This interactive chart assists in determining    Accounting         20,310
Interactive Chart                     Chart      other federal rates (AFRs) for 2007. AFRs
                                                 are used for many purposes, such as for
                                                 determining whether a loan is a below-
                                                 market rate loan, for determining whether
                                                 there is adequate stated interest on a debt
                                                 instrument, and for computing the amount
                                                 of the low-income housing credit.




Other Federal Rates - 2008         Interactive   This interactive chart assists in determining    Accounting         20,340
Interactive Chart                     Chart      other federal rates (AFRs) for 2008. AFRs
                                                 are used for many purposes, such as for
                                                 determining whether a loan is a below-
                                                 market rate loan, for determining whether
                                                 there is adequate stated interest on a debt
                                                 instrument, and for computing the amount
                                                 of the low-income housing credit.




Other Federal Rates - 2009         Interactive   This interactive chart assists in determining    Accounting         20,370
Interactive Chart                     Chart      other federal rates (AFRs) for 2009. AFRs
                                                 are used for many purposes, such as for
                                                 determining whether a loan is a below-
                                                 market rate loan, for determining whether
                                                 there is adequate stated interest on a debt
                                                 instrument, and for computing the amount
                                                 of the low-income housing credit.




Analyzing Cost Benefit of Cost     Interactive   This interactive example assists in               Business          10,270
Segregation Studies                  Example     calculating the estimated cost benefit of a
                                                 cost segregation study.
Analyzing Start-Up and            Decision Tree This decision tree will assist in determining      Business          9,190
Organizational Costs                            whether a taxpayer may elect to deduct
                                                and amortize start-up costs and
                                                organizational expenses.
Application of At-Risk Rules      Decision Tree This tool will help determine if a taxpayer        Business          9,285
                                                is subject to the at-risk limitation and the
                                                manner in which multiple activities
                                                engaged in by the taxpayer is subject to
                                                the limitation; and if so, to allocate the
                                                lump sum consideration paid or received
                                                for a group of assets that constitutes a
                                                trade or business to each of the underlying
                                                assets.


Apply Section 382 for Corporate    Interactive   This interactive example will assist in           Business          9,250
Net Operating Loss Limitations       Example     determining whether a corporation's losses
                                                 and other tax attributes are subject to
                                                 Code Sec. 382 limitations and will assist in
                                                 measuring the owner shifts on a single
                                                 testing date.
Calculating the Research and       Interactive   This decision tree will assist practitioners      Business          9,355
Development Credit                   Example     determine the amount of the taxpayer's
                                                 R&D credit.



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Title / link within
IntelliConnect                         Type        Description                                       Topic      TRC Paragraph (¶)
Computing Casualty or Theft          Interactive   This interactive example will assist in           Business         9,290
Losses                                 Example     calculating the amount of theft or casualty
                                                   loss allowed under Code Sec. 165.


Computing Section 179 Deduction      Interactive   This interactive example will assist in           Business         10,350
                                       Example     computing the Section 179 expense
                                                   allowance for an asset placed in service
                                                   during the tax year. The interactive
                                                   example must be run separately for each
                                                   qualifying asset.
Deciding to Capitalize or Expense   Decision Tree This decision tree assists in determining          Business         9,150
                                                  whether an expenditure for tangible
                                                  personal or real property is currently
                                                  deductible or is capitalizable. Whether an
                                                  expenditure may be deducted currently or
                                                  must be capitalized is a question of fact.
                                                  Therefore, this decision tree will walk you
                                                  through a series of questions that must be
                                                  answered based upon the facts specific to
                                                  the expenditure in question.


Deducting Business Use of Home       Interactive   This interactive example will assist in           Business         9,270
Expenses                               Example     determining whether a home office
                                                   deduction is available. Once it is
                                                   determined that a client is entitled to a
                                                   home office deduction, the interactive
                                                   example will calculate the deductible
                                                   amount. Practitioners may also calculate
                                                   taxable gain resulting from the sale of a
                                                   home for which a home office deduction
                                                   was claimed.

Depreciating Property Acquired      Decision Tree This decision tree will assist in determining      Business         10,310
Under Secs. 1031 or 1033                          the applicable recovery period,
                                                  depreciation method, and convention used
                                                  for depreciating property acquired via a
                                                  like-kind exchange or an involuntary
                                                  conversion in accordance with established
                                                  guidance.

Determining Abandonment Losses       Interactive   This interactive example will assist in           Business         9,210
                                       Example     determining whether an abandonment loss
                                                   has occurred. If an abandonment loss has
                                                   occurred, the interactive example will
                                                   assist in determining the amount and
                                                   character of the loss, as well as the year of
                                                   deduction.

Determining Business Use of         Decision Tree This decision tree assists in determining the      Business         9,170
Automobiles                                       manner in which to deduct automobile
                                                  expenses as well as the manner in which an
                                                  employee must report income related to
                                                  the personal use of an employer's vehicle.




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                                                                                                    Interactive Research Aids
                                                                                                   for Tax Research Consultant

Title / link within
IntelliConnect                        Type         Description                                       Topic      TRC Paragraph (¶)
Determining Qualified Research     Decision Tree                                                     Business         9,350
and Development Credit
                                                   This decision tree will help determine
                                                   whether the taxpayer's expenditures
                                                   qualify for the credit. Please note that this
                                                   decision tree is limited to the character of
                                                   expenses that qualify for the credit; it does
                                                   not address the threshold amount of
                                                   expenses necessary to claim the credit, the
                                                   amount of the credit, or the proper year
                                                   for claiming the credit.
Determining Section 179 Property   Decision Tree This decision tree will assist in determining       Business         10,330
                                                 whether property placed in service by the
                                                 taxpayer qualifies to be expensed under
                                                 Section 179. This is an alternative to the
                                                 property being capitalized and
                                                 depreciated.
Determining Whether an Activity    Decision Tree This tool will assist practitioners in              Business         9,310
is Subject to Hobby Loss Rules                   determining whether an activity is subject
                                                 to hobby loss rules.
Determining Whether Passive        Decision Tree This tool will assist practitioners in              Business         9,280
Activity Rules Apply                             determining if a particular activity in which
                                                 a taxpayer participates is a passive activity
                                                 to which the passive activity rules apply.


Ensuring COLI Compliance           Decision Tree This tool will assist practitioners in              Business         9,330
                                                 determining the benefits of establishing
                                                 corporate owned life insurance (COLI) as
                                                 well as ensuring that the plan is compliant
                                                 with COLI requirements.
Identifying MACRS Class Life       Decision Tree This decision tree assists in determining the       Business         10,050
                                                 appropriate class life and recovery periods
                                                 for MACRS property.
Qualifying for Section 199         Decision Tree This decision tree will assist in determining       Business         9,230
Deduction                                        if a taxpayer is engaged in a qualified
                                                 domestic production activity eligible for
                                                 the Section 199 deduction.
Separating Personal Property       Decision Tree This decision tree assists in identifying the       Business         10,290
Components from Building                         tangible personal property or land
                                                 improvement components of a building that
                                                 may be depreciated at a faster rate and
                                                 over a shorter recovery period than the
                                                 building itself.
Treatment of Computer Software      Interactive    This interactive example assists in               Business         10,250
Expenditures                          Example      determining the amount of a deduction for
                                                   computer software expenditures based
                                                   upon the rules of Code Secs. 162, 167, 179,
                                                   and 197 and various regulations issued
                                                   under these Code Sections.


Classifying Payments to            Decision Tree This tool will assist practitioners in             Employers         13,200
Employees                                        determining whether payments should be
                                                 classified as wages, loans, gifts, dividends,
                                                 or other types of payments.




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Title / link within
IntelliConnect                        Type        Description                                       Topic      TRC Paragraph (¶)
Determining Income Inclusion on     Interactive   This interactive example will assist in          Employers         13,090
Group Term Insurance                  Example     determining the tax consequences of
                                                  employer-provided group-term life
                                                  insurance. This interactive example
                                                  assumes that the insurance at issue
                                                  qualifies as group-term life insurance.
Determining Required Minimum        Interactive   This interactive example assists in              Employers         14,200
Distributions                         Example     determining the amount that must be
                                                  distributed from certain types of
                                                  retirement plans, on an ongoing bases
Determining Taxation of             Interactive   This interactive example assists in              Employers         13,070
Employee Stock Options                Example     determining the taxation of employee stock
                                                  options.
Determining Whether Code Sec.      Decision Tree This Decision Tree will assist in determining     Employers         14,250
409A Applies to Nonqualified                     whether Code Sec. 409A applies to non-
Deferred Compensation Plans                      qualified deferred compensation plans


Determining Whether Worker is      Decision Tree This decision tree assists in determining         Employers         12,150
Employee or Independent                          whether a worker is an employee or an
Contractor                                       independent contractor for federal
                                                 employment tax and income tax
                                                 withholding purposes. This decision tree
                                                 examines both the twenty-factor test and
                                                 the behavioral-financial-relationship test.


Electing Employee Cafeteria Plan   Decision Tree This tool will assist practitioners in            Employers         13,100
Benefits                                         selecting benefits offered in an employer's
                                                 cafeteria plan.
Employee Plans and Compensation     Interactive   This interactive chart assists in determining    Employers         13,050
Interactive Chart                      Chart      what types of employee benefit and
                                                  compensation plans may be maintained by
                                                  C corporations, S corporations, limited
                                                  liability companies (LLCs), general
                                                  partnerships, and limited partnerships. The
                                                  proper federal tax treatment of premiums
                                                  and benefits is also addressed in this
                                                  application. This chart assumes that an LLC
                                                  or state law partnership does not elect to
                                                  be treated as an association for federal tax
                                                  purposes.



Retirement Plans Interactive        Interactive   This interactive chart assists in comparing      Employers         14,050
Chart                                  Chart      different types of retirement plans and
                                                  arrangements, including 401(k) plans, safe
                                                  harbor 401(k) plans, profit sharing plans,
                                                  payroll deduction IRAs, Simple IRAs, SEPs,
                                                  and defined benefit plans. Many features of
                                                  these plans can be compared, including
                                                  plan advantages, employer eligibility
                                                  requirements, employer filing
                                                  requirements, type and amount of
                                                  employer and employee contributions,
                                                  coverage requirements, withdrawal and
                                                  payment options, and vesting.




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Title / link within
IntelliConnect                        Type        Description                                      Topic      TRC Paragraph (¶)
Selecting Benefits to Offer in a   Decision Tree This tool will assist practitioners in           Employers         13,300
Cafeteria Plan                                   selecting benefits offered in an employer's
                                                 cafeteria plan.
Allocating Partnership Items       Decision Tree This decision tree will assist users in           Entities         7,660
Under Section 704                                determining the allocation of a partner's
                                                 distributive share of each item of
                                                 partnership income, gain, loss, deduction,
                                                 and credit.
Apportioning Among Controlled       Interactive   This tool assists the practitioner in            Entities         6,595
Group Members                         Example     allocating the brackets in accordance to
                                                  the standard method in Code Section 1561.
                                                  Practitioners must identify the controlled
                                                  group members and the allocation of
                                                  Section 179 between corporations before
                                                  beginning this tool. Taxable income, AMTI,
                                                  and Retained Earnings are required
                                                  information.

Calculation of Corporate Net        Interactive                                                    Entities         6,850
Operating Loss                        Example
                                                  This tool assists the practitioner in
                                                  calculating the net operating loss (NOL) for
                                                  regular corporations. Other tools address
                                                  calculating net operating losses for
                                                  individuals, estates, and trusts. This tool
                                                  does not cover state law regarding the
                                                  carryback of net operating losses. Please
                                                  refer to the specific laws of your state.
Choosing an Entity                 Decision Tree This decision tree will assist in working         Entities         6,340
                                                 through a variety of factors that must be
                                                 considered when deciding on the form that
                                                 a business enterprise should take. The
                                                 business forms that will be considered are
                                                 sole proprietorships, partnerships,
                                                 corporations (taxed under both Subchapter
                                                 C and Subchapter S), and limited liability
                                                 companies (LLCs).

Comparing Tax Savings between      Decision Tree This tool will assist practitioners in            Entities         8,510
an S Corp and a Sole                             comparing the tax savings and other
Proprietorship                                   financial consequences of operating a
                                                 business as an S Corporation versus
                                                 operating the business as a Sole
                                                 Proprietorship. This tool does not consider
                                                 any other forms of business (Limited
                                                 Liability Company, Partnership, Limited
                                                 Liability Partnership, C Corporation, etc.) -
                                                 it is strictly focused on a comparison
                                                 between a Sole Proprietorship and an S
                                                 Corporation.

Computing Corporate Estimated       Interactive                                                    Entities         6,650
Taxes                                 Example
                                                  This tool will assist practitioners in
                                                  determining whether a corporation should
                                                  pay estimated taxes and guide them to the
                                                  right amount of estimated taxes to be paid.
                                                  The tool has interactive examples to aid
                                                  the calculation of estimated taxes of a
                                                  corporation.




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Title / link within
IntelliConnect                          Type        Description                                      Topic      TRC Paragraph (¶)
Consequences of Receipt of a         Decision Tree This tool will help to determine the              Entities         7,600
Partnership Interest in Exchange                   consequences to both the service partner,
for Contribution of Services                       the other partners and the partnership as a
                                                   whole based upon these factors.


Determining if Accumulated            Interactive   This tool will assist practitioners in           Entities         6,590
Earnings Tax Applies                    Example     determining whether a taxpayer is subject
                                                    to the accumulated earnings tax. The tool
                                                    will consider tax avoidance purposes and
                                                    reasonable needs of the business. If the
                                                    taxpayer is determined to be responsible
                                                    for the tax, the tool will calculate
                                                    accumulated taxable income.


Determining Required Tax Year         Interactive   This interactive example assists in              Entities         7,550
for Partnerships                        Example     determining the required tax year for a
                                                    partnership.
Determining Tax Consequences of      Decision Tree This tool will help the taxpayer determine        Entities         6,555
Section 338                                        whether or not making a Section 338
                                                   election with respect to a particular
                                                   transaction is beneficial to the taxpayer.
                                                   Instructions on how to make the election to
                                                   treat the stock purchase as a purchase of
                                                   assets for tax purposes are also provided in
                                                   the tool.

Determining Tax Consequences of      Decision Tree This tool will assist practitioners in            Entities         6,575
Tax-Free Reorganization                            determining the tax consequences of a tax-
                                                   free reorganization for both the target and
                                                   the target shareholders.
Determining the Effects of a         Decision Tree This tool will assist practitioners in            Entities         6,580
Complete Liquidation                               determining the gain or loss to corporations
                                                   and to shareholders as a result of a
                                                   complete liquidation.
Determining the Tax                  Decision Tree This tool will assist practitioners in            Entities         6,560
Consequences of a Section 351                      determining whether a transfer of property
Transfer Decision Tree                             to a corporation qualifies as a Section 351
                                                   transfer and the tax consequences of the
                                                   Section 351 transfer to the transferee
                                                   corporation and the transferor.


Disposing of a Partial Partnership    Interactive   This interactive example will assist in          Entities         7,590
Interest                                Example     determining the amount of gain or loss and
                                                    the basis consequences of a partial
                                                    disposition of a partnership interest.


Electing Out of Subchapter K         Decision Tree This decision tree will assist in determining     Entities         7,570
                                                   whether an unincorporated entity may
                                                   elect to be excluded from all or part of
                                                   Subchapter K. This decision tree will also
                                                   assist in the process of making the election.




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Title / link within
IntelliConnect                       Type        Description                                       Topic      TRC Paragraph (¶)
Electing Section 338 to Treat     Decision Tree This decision tree will assist in determining      Entities         6,550
Stock Purchase as Asset                         whether a corporate purchaser of another
Acquisition                                     corporation’s stock may elect to increase
                                                the target corporation’s asset basis. This
                                                decision tree will also assist in completing
                                                the election form and determining the
                                                consequences of the election.


Formation of Business Entities     Interactive   This interactive chart assists in determining     Entities         6,140
Interactive Chart                     Chart      the steps that must be taken in order to
                                                 form a C corporation, S corporation,
                                                 limited liability company (LLC), general
                                                 partnership, or limited partnership. The
                                                 federal tax treatment of costs incurred and
                                                 contributions made to the business entity
                                                 during the formation process is also
                                                 addressed in this application. This chart
                                                 assumes that an LLC or state law
                                                 partnership does not elect to be treated as
                                                 an association for federal tax purposes.



Governance of Business Entities    Interactive   This interactive chart assists in determining     Entities         6,180
Interactive Chart                     Chart      the type of management structure that
                                                 applies to C corporations, S corporations,
                                                 limited liability companies (LLCs), general
                                                 partnerships, and limited partnerships. The
                                                 extent to which owners can or are required
                                                 to be involved in the management of the
                                                 particular business entity is also addressed
                                                 in this application.


Identifying Personal Holding       Interactive   This tool will assist practitioners in            Entities         6,600
Companies                            Example     determining whether a taxpayer is a
                                                 personal holding company. If so, the tool
                                                 will compute personal holding company
                                                 income and consider the use of deficiency
                                                 dividends to reduce or eliminate tax.


Identifying Personal Service      Decision Tree This tool will assist practitioners in             Entities         6,610
Corporations                                    determining whether a taxpayer is a
                                                personal service corporation. If so, the tool
                                                will consider the ramifications of such
                                                classification.
Income Tax Deduction for           Interactive   This interactive example will help                Entities         6,700
Corporate Charitable                 Example     determine whether the corporation's
Contributions                                    contributions qualify for the charitable
                                                 deduction, and if so, in what amount. It
                                                 will not examine whether a payment to a
                                                 charitable organization qualifies as a
                                                 business expense.




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                                                                                                     for Tax Research Consultant

Title / link within
IntelliConnect                           Type        Description                                       Topic      TRC Paragraph (¶)
Mandatory Allocations Under Code       Interactive   This tool will describe instances where the       Entities         7,650
Sec. 704(c)                              Example     mandatory allocation rules of Code Sec.
                                                     704(c) apply, identify instances where
                                                     those rules do not apply and help
                                                     practitioners compare results under the
                                                     three allocation methods described in the
                                                     regulations.

Meeting Requirements for Tax-         Decision Tree This decision tree will assist in determining      Entities         6,570
Free Reorganization                                 whether a taxpayer meets the common
                                                    requirements for most tax-free
                                                    reorganizations.
Mergers and Reorganizations            Interactive   This interactive chart assists in determining     Entities         6,300
Interactive Chart                         Chart      how mergers and reorganizations involving
                                                     C corporations, S corporations, limited
                                                     liability companies (LLCs), general
                                                     partnerships, and limited partnerships can
                                                     be accomplished and what the resulting
                                                     federal tax consequences will be to the
                                                     owner and the entity. This chart assumes
                                                     that an LLC or state law partnership does
                                                     not elect to be treated as an association
                                                     for federal tax purposes.


Nontax Financial Rights of Owners      Interactive   This interactive chart assists in determining     Entities         6,200
Interactive Chart                         Chart      the financial rights of owners of C
                                                     corporations, S corporations, limited
                                                     liability companies (LLCs), general
                                                     partnerships, and limited partnerships. The
                                                     type of entity and its governing documents
                                                     determine how profits and losses and other
                                                     distributions are allocated to the entity’s
                                                     owners.

Personal Liability of Owners           Interactive   This interactive chart assists in determining     Entities         6,160
Interactive Chart                         Chart      the extent to which owners of C
                                                     corporations, S corporations, limited
                                                     liability companies (LLCs), general
                                                     partnerships, and limited partnerships have
                                                     personal liability for the entity’s
                                                     obligations.

Prerequisites for Business Entities    Interactive   This interactive chart assists in determining     Entities         6,120
Interactive Chart                         Chart      the prerequisites that must be satisfied
                                                     before a C corporation, S corporation,
                                                     limited liability company (LLC), general
                                                     partnership, or limited partnership can be
                                                     formed. Some of the restrictions on these
                                                     business entities include limits on the
                                                     number of owners, type of owners, type of
                                                     ownership interests that can be issued, and
                                                     type of business that can be conducted by
                                                     the entity. This chart assumes that an LLC
                                                     or state law partnership does not elect to
                                                     be treated as an association for federal tax
                                                     purposes.




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                                                                                                      IntelliConnect
                                                                                                Interactive Research Aids
                                                                                               for Tax Research Consultant

Title / link within
IntelliConnect                     Type        Description                                       Topic      TRC Paragraph (¶)
Section 382 Loss Limitation -    Interactive   This tool will help the taxpayer determine        Entities         6,800
Computation of Taxable Income      Example     the amount of post-change year taxable
                                               income of the successor corporation that
                                               may be used to offset the old loss
                                               corporation's NOL carryovers as limited by
                                               Sec. 382.
Tax Consequences to Owners       Interactive   This interactive chart assists in determining     Entities         6,240
Interactive Chart                   Chart      the appropriate federal tax consequences
                                               for owners of C corporations, S
                                               corporations, limited liability companies
                                               (LLCs), general partnerships, and limited
                                               partnerships. The proper federal tax
                                               treatment of income, deductions, and
                                               property distributions, as well as
                                               restrictions on the use of losses by owners
                                               and potential alternative minimum tax
                                               (AMT) obligations of owners are addressed
                                               in this application. This chart assumes that
                                               an LLC or state law partnership does not
                                               elect to be treated as an association for
                                               federal tax purposes.



Tax Consequences to the Entity   Interactive   This interactive chart assists in determining     Entities         6,220
Interactive Chart                   Chart      the appropriate federal tax treatment for C
                                               corporations, S corporations, limited
                                               liability companies (LLCs), general
                                               partnerships, and limited partnerships. The
                                               tax consequences of a transaction may vary
                                               widely depending on the particular business
                                               entity being examined. This chart assumes
                                               that an LLC or state law partnership does
                                               not elect to be treated as an association
                                               for federal tax purposes. In addition to
                                               addressing the federal tax treatment for a
                                               number of transactions, this interactive
                                               chart also assists in determining the
                                               accounting methods, tax years, federal tax
                                               returns, and employment tax obligations
                                               for various business entities.




Termination of the Entity        Interactive   This interactive chart assists in determining     Entities         6,320
Interactive Chart                   Chart      the steps that must be taken to terminate
                                               a C corporation, S corporation, limited
                                               liability company (LLC), general
                                               partnership, or limited partnership. The
                                               various rights and obligations of the owners
                                               upon termination of the entity are also
                                               addressed in this application. This chart
                                               assumes that an LLC or state law
                                               partnership does not elect to be treated as
                                               an association for federal tax purposes.




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                                                                                                      Interactive Research Aids
                                                                                                     for Tax Research Consultant

Title / link within
IntelliConnect                           Type        Description                                       Topic        TRC Paragraph (¶)
Transactions Between the Owners        Interactive   This interactive chart assists in determining     Entities           6,260
and the Entity Interactive Chart          Chart      the proper federal tax treatment for
                                                     transactions between C corporations, S
                                                     corporations, limited liability companies
                                                     (LLCs), general partnerships, and limited
                                                     partnerships and their owners. Transfers of
                                                     ownership interests and other transfers are
                                                     addressed in this application. This chart
                                                     assumes that an LLC or state law
                                                     partnership does not elect to be treated as
                                                     an association for federal tax purposes.




Transferability of Ownership           Interactive   This interactive chart assists in determining     Entities           6,280
Interests Interactive Chart               Chart      how ownership interests in C corporations,
                                                     S corporations, limited liability companies
                                                     (LLCs), general partnerships, and limited
                                                     partnerships can be transferred and what
                                                     the resulting federal tax consequences will
                                                     be. This chart assumes that an LLC or state
                                                     law partnership does not elect to be
                                                     treated as an association for federal tax
                                                     purposes.


Unrelated Business Income Tax         Decision Tree This decision tree will assist in determining      Entities           6,350
                                                    whether a tax-exempt entity is subject to
                                                    the Unrelated Business Income Tax, for any
                                                    income the business has that is not
                                                    substantially related to its exempt purpose


Calculating the Telephone Excise       Interactive   This interactive example assists in                Excise            33,100
Tax                                      Example     calculating the maximum amount of the
                                                     telephone excise tax refund to be taken on
                                                     a taxpayer’s 2006 income tax returns. The
                                                     interactive example will populate Form
                                                     8913, Credit for Telephone Excise Tax Paid,
                                                     when applicable, based on the greatest
                                                     refund amount.

Calculating Charitable                 Interactive   This tool will assist practitioners in           Individuals         3,500
Contributions of Cash or Securities      Example     determining whether an individual may
by Individuals                                       claim a charitable income tax deduction for
                                                     some of the more common forms of
                                                     charitable contributions, as well as the
                                                     percentage limitations that apply.
Calculating Self-Employment Tax        Interactive                                                    Individuals         4,350
                                         Example     This tool will help practitioners determine
                                                     whether an individual with net earnings
                                                     from self-employment for the current tax
                                                     year is subject to Self-Employment Tax.
Cancellation of Indebtedness           Interactive   This tool will assist practitioners determine    Individuals         4,310
Income                                   Example     whether debt relief causes a client to
                                                     realize income and, if so, how much of that
                                                     cancellation of debt income must be
                                                     included in the client’s income for federal
                                                     tax purposes.




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                                                                                                      Interactive Research Aids
                                                                                                     for Tax Research Consultant

Title / link within
IntelliConnect                         Type        Description                                         Topic        TRC Paragraph (¶)
Classifying Payments Between        Decision Tree This tool will assist practitioners in              Individuals         4,270
Former Spouses                                    classifying payments between former
                                                  spouses.
Computing Net Capital Gain for       Interactive   This tool will assist practitioners in             Individuals         4,750
Individual Taxpayers                   Example     computing the amount of net capital gain.
                                                   It also will help in determining the portion
                                                   of that gain that is taxed at the maximum
                                                   15%, 25% and 28% tax rates.
Computing NOLs for Individuals,      Interactive   This interactive example assists in                Individuals         3,150
Estates or Trusts                      Example     determining the amount of an individual,
                                                   trust, or estate's NOL.
Deducting Qualified Moving          Decision Tree This tool will assist practitioners in              Individuals         3,400
Expenses                                          deducting qualified moving expenses.
Deducting Rental Real Residences     Interactive   This interactive example assists in                Individuals         3,200
or Vacation Home Expenses              Example     determining the amount of deductions that
                                                   may be taken in connection with the rental
                                                   of a residence or vacation home.
Determining Amount of Charitable     Interactive   This interactive example will assist in            Individuals         3,300
Contribution of Appreciated            Example     determining the amount of a deduction for
Property                                           the contribution of a complete interest in
                                                   an item of appreciated property. This
                                                   interactive example will determine such
                                                   amount for an individual or a C
                                                   corporation.

Determining Custody Issues          Decision Tree This tool will assist practitioners in              Individuals         4,250
Pursuant to Divorce                               determining the tax ramifications of
                                                  custody issues pursuant to a divorce.
Determining Filing Status for       Decision Tree This decision tree assists in determining an        Individuals         5,100
Individuals                                       individual's filing status for individual
                                                  income tax purposes.
Determining Health Savings           Interactive   This interactive example assists in                Individuals         3,250
Account Contributions                  Example     determining whether an individual is
                                                   eligible to contribute to an HSA. For those
                                                   individuals eligible to contribute, the
                                                   interactive example assists in determining
                                                   the maximum amount of deductible
                                                   contributions the account beneficiary may
                                                   make to an HSA.

Determining Health Savings          Decision Tree This decision tree assists in determining the       Individuals         3,260
Account Distributions                             tax consequences of distributions that are
                                                  made during the tax year from the HSA(s)
                                                  of a single account holder as well as the
                                                  tax consequences of the transfer or receipt
                                                  of HSA proceeds upon the death of an
                                                  account holder.

Determining if Kiddie Tax Applies    Interactive   This decision tree will assist practitioners in    Individuals         4,200
                                       Example     determining whether the kiddie tax
                                                   applies.
Determining Retirement Benefits     Decision Tree This tool will assist practitioners in              Individuals         4,260
Pursuant to Divorce                               determining retirement benefits pursuant
                                                  to a divorce.
Determining Taxation of Imputed     Decision Tree This decision tree assists in determining the       Individuals         4,050
Interest on Below Markets                         taxation of certain below-market loans.




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                                                                                                  for Tax Research Consultant

Title / link within
IntelliConnect                        Type        Description                                        Topic        TRC Paragraph (¶)
Determining the Filing             Decision Tree This tool will assist practitioners in            Individuals          5,200
Requirements of a Decedent                       determining filing requirements upon the
                                                 death of a decedent.
Determining Whether Individual     Decision Tree This tool will assist practitioners in            Individuals          5,120
Qualifies for Dependency                         identifying whether certain individuals
Exemption                                        qualify for the dependency exemption.
Mortgage Debt Frequently Asked      Interactive   This tool will assist practitioners with         Individuals          4,305
Questions                              Chart      answers to commonly asked questions
                                                  about the Mortgage Debt Crisis
Mortgage Debt Workouts &            Interactive   This interactive example will assist             Individuals          4,300
Foreclosures                          Example     practitioners in framing and responding to
                                                  federal Tax questions arising out of the Sub-
                                                  Prime lending crisis
Navigating Social Security Early    Interactive                                                    Individuals          4,700
Retirement                            Example     This tool will assist practitioners calculate
                                                  early retirement benefits for taxpayers
                                                  retiring up to 7 calendar years early,
                                                  inclusive of the year of early retirement
                                                  and the year of full retirement, based on
                                                  the Social Security Administration tables.
Tuition Benefit Maximizer           Interactive                                                    Individuals          3,410
                                      Example     This tool estimates the best tax advantage
                                                  for tuition deductions based on the income
                                                  of a taxpayer and makes a recommendation
                                                  as to the most advantageous method
When to File a Gift Tax Return     Decision Tree This tool assists in determining when a           Individuals          5,300
(Form 709)                                       Form 709 must be filed for Gift Tax
                                                 Purposes
Determining Whether Taxpayer is    Decision Tree This tool will assist practitioners in           International         24,150
Resident or Nonresident Alien                    determining the status of noncitizens as
                                                 either resident or nonresident aliens.
Analyzing Circular 230             Decision Tree Rules governing practice before the IRS are       Procedure            29,150
                                                 contained in a document commonly known
                                                 as "Treasury Department Circular 230."
                                                 This decision tree will assist users in
                                                 analyzing the requirements of Circular 230,
                                                 Rules of Practice Before the IRS.




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                                                                                                     Interactive Research Aids
                                                                                                    for Tax Research Consultant

Title / link within
IntelliConnect                         Type        Description                                        Topic      TRC Paragraph (¶)
Federal Disaster Areas Interactive   Interactive   This interactive chart assists in determining     Procedure         29,100
Chart                                   Chart      whether an area has been declared a
                                                   disaster area as well as the period for
                                                   which the disaster area designation applies.
                                                   An area that has been declared a disaster
                                                   area by the President of the United States
                                                   is eligible for assistance from the federal
                                                   government under the Robert T. Stafford
                                                   Disaster Relief and Emergency Assistance
                                                   Act. Taxpayers located in designated
                                                   disaster areas also receive certain tax
                                                   relief, such as the ability to deduct
                                                   uncompensated losses attributable to the
                                                   disaster for the year the disaster occurred
                                                   or the preceding year. The IRS may also
                                                   postpone certain tax deadlines for
                                                   taxpayers affected by a disaster by
                                                   extending the time for filing returns,
                                                   paying taxes, or making IRA contributions.




Where to File Interactive Chart      Interactive   This interactive chart assists in determining     Procedure         29,050
                                        Chart      the proper address for mailing various
                                                   federal tax returns based on the taxpayer’s
                                                   location. The returns covered by this
                                                   interactive chart include: Form 1040, U.S.
                                                   Individual Income Tax Return ; Form
                                                   1040ES, Estimated Tax for Individuals ;
                                                   Form 1041, U.S. Income Tax Return for
                                                   Estates and Trusts ; Form 1065, U.S.
                                                   Partnership Return of Income ; Form 1120,
                                                   U.S. Corporation Income Tax Return ; Form
                                                   1120S, U.S. Income Tax Return for an S
                                                   Corporation ; Form 4868, Application for
                                                   Extension of Time to File U.S. Individual
                                                   Income Tax Return ; Form 940, Employer’s
                                                   Annual Federal Unemployment (FUTA) Tax
                                                   Return ; and Form 941, Employer’s
                                                   Quarterly Federal Tax Return .



Applicable Asset Acquisition –       Interactive   This tool will assist taxpayers, either seller      Sales           15,575
Allocation of Purchase Price           Example     or buyer, determine whether it has
                                                   engaged in an applicable asset acquisition;
                                                   and if so, to allocate the lump sum
                                                   consideration paid or received for a group
                                                   of assets that constitutes a trade or
                                                   business to each of the underlying assets.


Computing Gain Under Installment     Interactive   This interactive example will assist in             Sales           16,070
Sale                                   Example     calculating the gain or loss on the sale of
                                                   one or more assets using the installment
                                                   method. It will also assist with the
                                                   completion of Form 6252, Installment Sale
                                                   Income, which is required to report income
                                                   from installment sales.




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                                                                                                   Interactive Research Aids
                                                                                                  for Tax Research Consultant

Title / link within
IntelliConnect                         Type        Description                                      Topic     TRC Paragraph (¶)
Determining Character on Disposal    Interactive   This tool will assist practitioners in           Sales           15,560
of Tangible Business Property          Example     determining the character on the disposal
                                                   of tangible business property.
Determining Eligibility for         Decision Tree This decision tree will assist in determining      Sales          16,050
Installment Sale                                  whether the sale or disposition of an asset
                                                  will qualify for the installment method of
                                                  reporting gain.
Determining Holding Periods for     Decision Tree This decision tree will assist in determining      Sales          15,550
Capital Assets                                    when the holding period of the client’s
                                                  capital asset begins by examining how the
                                                  asset was acquired. Once a determination
                                                  has been made with respect to the start of
                                                  the holding period, the decision tree will
                                                  assist in determining whether the capital
                                                  asset is a long-term or short-term capital
                                                  asset.

Determining Ramifications of a       Interactive   This interactive example assists in               Sales          15,200
Like Kind Exchange                     Example     calculating the tax ramifications of a like-
                                                   kind exchange.
Determining the Ramifications of    Decision Tree This decision tree will assist in determining      Sales          16,090
an Installment Sale Between                       whether a contemplated installment sale is
Related Parties                                   between related parties and assessing the
                                                  ramifications of a related party installment
                                                  sale that either: involves property that is
                                                  depreciable in the hands of the buyer or
                                                  involves a possible subsequent disposition.



Meeting Like-Kind Exchange          Decision Tree This decision tree assists in determining if       Sales          15,150
Requirements                                      an exchange qualifies as a Code Sec. 1031
                                                  like-kind exchange.
Related Parties Transactions        Decision Tree This tool will assist practitioners identify      Sales           16,510
                                                  transactions between "related parties,"
                                                  which are subject to enhanced scrutiny by
                                                  the IRS and the courts, and determine the
                                                  consequences
Sale of Business Assets             Decision Tree This tool will help the user determine the        Sales           15,570
                                                  tax consequences that follow the sale of
                                                  the assets of a business. In particular, it
                                                  will explain the rules of Code Sec. 1060 and
                                                  Treas. Reg. Sec. 1.1060-1 which require the
                                                  use of the residual allocation method to
                                                  allocate the consideration paid for a
                                                  business to its underlying assets in "an
                                                  applicable asset acquisition". The
                                                  applicable asset acquisition allocation rules
                                                  apply to transactions occurring after March
                                                  15, 2001.




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Description: 941 2007 Employers Quarterly Federal Tax document sample