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TOPICAL CONTENTS

CREDITS AGAINST TAX 14 Customs duty refunds on transfer- 21 Trusts as S corporation shareholders
7 Maximizing the benefits of general pricing adjustments
business tax credits 16 Differences between transfer pricing STATE & LOCAL TAXES
and financial reporting valuations 23 Cryptoasset transactions: State
ESTATES, TRUSTS & GIFTS corporate income tax implications
TOP LEFT: IMAGE BY EVGENY GROMOV/ISTOCK; BOTTOM LEFT: PHOTO BY CHRISDORNEY/ISTOCK; TOP RIGHT: PHOTO BY ASIANDELIGHT/ISTOCK;
42 Trusts for holding S corporation PROCEDURE & 25 State tax considerations around the
interests: QSSTs vs. ESBTs ADMINISTRATION sale of a partnership interest
46 Freezing stock value with a corporate 32 Reporting cash receipts over $10,000
recapitalization TAX ACCOUNTING
56 Tax Court determines value of S CORPORATIONS 27 New accounting method change
receivable from a split-dollar life 19 Tax planning and considerations: S procedures issued for small business
insurance arrangement corporation targets taxpayers

MIDDLE BOTTOM: PHOTO BY SHELLY STILL/ISTOCK; BOTTOM RIGHT: IMAGE BY MICROSTOCKHUB/ISTOCK EXPENSES & DEDUCTIONS
59 Deferred compensation not deductible
in year basketball franchise sold

TAX EDUCATION
50 Employing a VITA program to
prepare students for professional practice

Opinions expressed in The Tax Adviser are those of the individual writers and may differ from policies of the American Institute
of Certified Public Accountants, the Tax Division, or its other divisions and committees. This publication is designed to provide
accurate and authoritative information on the subjects covered. It is sold, however, with the understanding that the publisher,
FOREIGN INCOME & editors, and authors are not engaged in rendering legal, accounting, or other professional service. If specific tax advice or
other expert assistance is required, the services of a competent professional person should be sought. The information in this
TAXPAYERS publication is not intended or written to be used as, and cannot be used as or considered to be, written tax advice, and should
not be relied on for the purpose of (1) avoiding tax-related penalties under the Internal Revenue Code or (2) promoting, marketing,
10 Considerations for multinationals or recommending to another party any transaction or tax-related matter(s) addressed herein, for IRS audit, tax dispute, or other
purposes. The contents of The Tax Adviser are indexed in ProQuest Accounting & Tax, a product of ProQuest, available online,
with US and Maltese operations www.proquest.com.

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