James P. Fuller, Barton W.S. Bassett, and William R. Skinner, in an article in International Tax Journal, counter that assumption by pointing to relevant statutory provisions and rebut IRS carte blanche powers under the statutory reference "any similar item."

Maxine Aaronson and Steven Salch, in their article in the Journal of Tax Practice and Procedure, present a handy pocket guide to identify and compare the post-examination programs available to taxpayers.

Stan D. Blythe, in his article in the M&A Tax Report, explains when Code Sec. 357 ( c ) no longer applies to certain acquisitive reorganizations.

A manager's conference is an option, but it might not be worth the fees incurred since IRS managers often support the findings of their auditors. In most situations, however, an Appeals protest and conference is the best choice because Appeals is separate from the IRS auditing group.

Ray Moore, in his article in Executive's Tax & Management Report, explains how to maximize your potential for achieving a favorable settlement. 

The first major tax law of 2007, the Small Business and Work Opportunity Tax Act of 2007, P.L.110-28, was passed by the House on May 24, 2007 by a vote of 280 to 142. It was approved that same day by the Senate by an 80 to 14 margin. President Bush signed the Act into law on May 25, 2007. 

This Act is part of a larger and more controversial bill, H.R. 2206, U.S. Troop Readiness, Veterans Care, Katrina Recovery and Iraq Accountability Appropriations Act of 2007. We are including the CCH Tax Briefing: Special Report in this issue of Focus on Tax, compliments of CCH.