This month's features:
- Government officials provide updates at ABA, AICPA fall meetings
- IRS issues guidance regarding bonus deductions
- LB&I directive provides relief for certain automatic accounting method changes
- IRS withdraws, reissues proposed regulations on tax accounting elections for foreign corporations
- PLR concludes that state grant payment is a non-shareholder contribution to capital
- Fifth Circuit affirms disallowance of deductions is a change in method of accounting
- Fourth Circuit affirms decision in Capital One
- Tax Court finds that individual is entitled to travel and home office deductions
