Formerly titled, the "Bank Tax Guide," the new U.S. Master Bank Tax Guide
(2012) by noted bank tax expert, Ronald W. Blasi, J.D., LL.M., is a
comprehensive desktop reference that covers all the tax rules for financial
institutions and is the only book of its kind that is completely updated each
year to reflect the latest changes through press time. This is the authoritative
must-have guide for professionals charged with tax compliance for financial
institutions. It features special planning sections in each chapter, detailed
discussions that are meticulously referenced to authority for additional
research, potential IRS audit activities, and numerous practical examples that
illustrate the rules and principles. The volume provides informative discussions
on points of law where the courts and the IRS may not see eye-to-eye.
The key tax planning suggestions offered upfront in each chapter and meticulous
footnotes to show authority throughout make the Guide's discussions a roadmap
for further research. Helpful tables, charts, lists and examples reflect the
author's penchant for illustrating the rules and principles in the most
understandable way.
Organized for day-to-day use, but offering a depth of discussion that readers
will want to read thoroughly, the U.S. Master Bank Tax Guide reflects the
author's 30+ years of banking industry experience and his proficiency at
teaching in both the law school and tax professional venues. This resource not
only explains the fundamental tax rules and principles that apply to banks, it
also identifies and guides the reader through the many opportunities and
pitfalls that may be present. From choice of entity advantages and disadvantages
and treatment of start-up costs to handling ordinary and necessary expense items
and acquisition and expansion considerations, the Guide offers the
practical guidance that all bank tax practitioners need, value and appreciate.
Topics and Content
- Entities subject to bank tax rules
- Accounting for interest, fee and other income
- Discount, points and premium
- Securities dealers and investors
- Nonperforming loans
- Modified debt
- Foreclosures
- Business expenses
- Interest expense
- Bad-debt deductions
- Acquisitions
- Business tax credits
- Valuable appendices provide:
- IRS Industry Specialization Program Coordinated Issue Papers
- The 13 Federal Judicial Circuits
- The 12 Districts of the Federal Reserve System
- Audit Technique Guide for Commercial Banking