Taxation of Financial Institutions, Second Edition

Clarifies the rapidly changing area of financial institution taxation with ...
Publisher: Matthew Bender
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2nd Edition
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ISBN: 9780769891330
Publisher: Matthew Bender
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LexisNexis Matthew Bender is proud to present the Second Edition of Taxation of Financial Institutions, completely updated, rewritten and reorganized by the authors at KPMG LLP as of December 2013.

This product includes numerous new chapters and clarifies the rapidly changing area of financial institution taxation with a wealth of information on tax laws, regulations, IRS rules, and insight from the top professionals in the field.

Filled with time-saving examples, this set includes discussion of:

• The IRS reversing its position on capitalization of other real estate owned (OREO) costs

• Revenue Procedure 2013-26 on the simplified method to accrue original issue discount (OID) on credit card receivables

• The Foreign Account Tax Compliance Act (FATCA) final regulation and revised implementation timeline

• New legislation on the Bank Shares Tax in Pennsylvania.

The Second Edition also includes new chapters on:

• Net investment income

• State Taxation of Financial Institutions--Overview

• State Taxation of Financial Institutions--Nexus

• State and Local Income Taxes

• State Franchise Taxes

• State Sales and Use Taxes

• Selected State Taxes Imposed on Financial Institutions

• Transfer pricing

First published in 1983.
2 Volumes; Loose-leaf, updated semiannually.

The eBook versions of this title feature links to Lexis Advance for further legal research options.

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Table of Contents

VOLUME 1

PART I: INTRODUCTION

Chapter 1 History, Overview, and Definitions--Banks and Thrifts

PART II: BANK TAX ACCOUNTING

Chapter 2 Accounting Methods

Chapter 3 Accounting Periods

PART III: INCOME AND DEDUCTION ITEMS

Chapter 4 Debt Instruments--Interest, OID, and Significant Modifications

Chapter 5 Securities Investment and Derivative Transactions

Chapter 6 Municipal Obligations

Chapter 7 Bad Debts

Chapter 8 Foreclosures

Chapter 9 Net Operating Losses

Chapter 10 Leases

Chapter 11 [Reserved]

PART IV: SPECIAL INDUSTRY PRACTICES

Chapter 12 Financial Institutions as Securities Dealers

Chapter 13 Loan Sales and Structured Financings

Chapter 14 Common Trust Funds

Chapter 15 Business Combinations and Holding Companies

Chapter 16 Tax Issues Related to FDIC-Assisted Acquisitions of Troubled Banks

Chapter 17 Net Investment Income

Chapter 18 [Reserved]

VOLUME 2

PART V: TAXATION OF INTERNATIONAL BANKS

Chapter 19 Taxation of Foreign Banks' U.S. Branches, Agencies, and Subsidiaries

Chapter 20 International Taxation of U.S. Banks

Chapter 21 Information Reporting and Backup Withholding

Chapter 22 [Reserved]

PART VI: STATE TAXATION OF FINANCIAL INSTITUTIONS

Chapter 23 State Taxation of Financial Institutions--Overview

Chapter 24 State Taxation of Financial Institutions--Nexus

Chapter 25 State and Local Income Taxes

Chapter 26 State Franchise Taxes

Chapter 27 Sales and Use Taxes

Chapter 28 Selected State Taxes Imposed on Financial Institutions

PART VII: MISCELLANEOUS TOPICS

Chapter 29 Financial Institutions as S Corporations

Chapter 30 Transfer Pricing

PART VIII: TABLES AND INDEX