A special CCH overview in Taxes — The Tax Magazine explains how the act extends the reach of the "kiddie tax" by raising age limits.

An article in State Income Tax Alert offers expert analysis of the resulting climate in various states as well as the reintroduction of federal business activity tax legislation.

Hale E. Sheppard, in his article in the Journal of Tax Practice & Procedure, discusses C.E. Sala and what the case reveals about the government's potential strategy in future shelter litigation.

James Fellows, in his article in the Journal of Passthrough Entities, explores some of the recent debt-basis controversy, in particular, the continuing saga of debt guarantees by a shareholder, as well as loans to an S corporation from other entities controlled by the same S corporation shareholder. 

The IRS has issued temporary and proposed regulations to clamp down on exempt organizations that profit from and assist in the completion of tax shelter transactions. The relevant provisions under Code Sec. 4965 and 6033 impose excise taxes and disclosure requirements on charities, federal government possessions, state and local governments, Indian tribal governments, IRAs and employee benefit plans, as well as on an entity manager that approves the entity's participation. 

An article in Tax Shelter Alert takes you through the proposed regs and outlines the manager-level penalties.