Taxation of Financial Institutions
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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.
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Table of contents
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]
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