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Short Takes: Recent Developments of Interest to Investors  


Author:  Staff Editors.


Source: Volume 38, Number 04, Summer 2021 , pp.79-96(18)




Journal of Taxation of Investments

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Abstract: 

Our regular review of new tax legislation and recent rulings and other authority includes developments related to the Consolidated Appropriations Act, 2021; PPP loans; American Rescue Plan Act; IRC Sec. 1400Z-1; IRC Sec. 1400Z-2; IRC Sec. 108, IRC Sec. 1031; IRC Sec. 104(a)(2); virtual currency; Rev. Rul. 2019-24 application; accrual method accounting; deferred annuity contract fees; SALT cap workarounds; IRC Sec. 162(f) final regulations; IRC Sec. 163(j) final regulations; business deductions; conservation easements; gambling losses; passive activity losses; hobby losses; and character of income.

Keywords: Nonrecognition provisions; realization of income, losses and other deductions; character of income or gain; capitalization and depreciation

Affiliations:  1: Journal of Taxation of Investments.

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