Lynn Nichols of MaresNichols CPE, Inc delivers this week’s update:

• A recap of the activity in Congress and Senate on the economic stimulus package, Congress passed their bill which provided rebates for individual taxpayers with income of $75,000 or less or $150,000 for joint filers. Lots of talk from Senate during the week ending February 1, 2008.
• Private Letter Ruling – 2008-04-004 compensation paid under an incentive plan.
• United States vs. H. Clark Ford III 10th Circuit Court of Appeals
• Tax Course Summary Opinion 2008-8
• Revenue Procedure 2008-14 covers when proper preparation of the tax return is in itself adequate disclosure of position taken on the return for purposes of form 6662D accuracy penalty and 6694A preparer penalty. This replaces Revenue Procedure 2006-48.
• And much more.