Topics include:

• Multiple forms of withholding tax
• Withholding tax regimes applicable to non-U.S. persons making passive investments in the U.S.
• Information reporting obligations under Section 1441
• U.S. backup withholding tax and reporting obligations under Section 3406
• Special withholding tax rules under Section 1446
• Qualified intermediary regime
• Withholding foreign partnership and foreign trust rules

Author Marnin J. Michaels is a partner with the law firm of Baker & McKenzie Zurich, a member of Baker & McKenzie International, a Swiss Verien. His practice focuses on international estate planning, the taxation of trusts for families with U.S. connections, the U.S. withholding tax and qualified intermediary rules, and money laundering avoidance legislation, including the USA Patriot Act.

Mr. Michaels has recently been selected Chair of the European Region Private Banking Practice of Baker & McKenzie.

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• New Content – RIA Federal Tax Handbook, 2007 Edition – Get comprehensive answers to questions on individual and corporate taxation, pension plans, IRAs, Roth IRAs, employee benefits, deductions, estate and gift taxes, and:
  
  
• Detailed coverage of the latest tax legislation
• Current and next year's income tax rates and the current rates for estate and gift, excise and Social Security taxes
• Guidance as to which IRS forms to use to report, file and make elections
• Extensive professional advice based on the experience of RIA's expert editorial team, not found in cited authorities (and you won't find it with the competition either)
• A comprehensive topic index with words practitioners know and use
  Checkpoint subscribers who receive the Handbook online can utilize the RIA Speedlink icon to help enhance and speed your tax research.

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• New Content – Tax Practice and Planning Guide: Tax Saving Moves for the Rest of 2006 – This Tax Planning & Practice Guide generally is oriented towards the time-honored approach of deferring income and accelerating deductions to minimize 2006 taxes. For individuals, deferring income also may help minimize or avoid AGI-based phase-outs of various tax breaks. As always, however, year-end tax planning doesn't occur in a vacuum. It must take account of each taxpayer's particular situation and planning goals, with the aim of minimizing taxes to the greatest extent possible. While most taxpayers will come out ahead by following the traditional approach, others with special circumstances will do better by accelerating income and deferring deductions.

  Valuable year-end planning moves you will find in this Tax Planning & Practice Guide include:

  • planning for the soon-to-end state and local sales tax deduction,
  • coping with the tough new rules for donating automobiles to charity,
  • planning for owners of IRAs and individual accounts in qualified retirement plans who are receiving or are about to receive required minimum distributions,
  • planning moves for beneficiaries of IRAs and qualified retirement plans,
  • tax-savers for businesses making capital purchases late in the year,
  • increasing withholding on salaries and wages to avoid the estimated tax underpayment penalty,
  • making year-end gifts of appreciated property to shift taxable gain to lower-bracket family members while taking advantage of the annual gift tax exclusion,
  • planning related to the alternative minimum tax,
  • squeezing the maximum tax benefit out of losses, and
  • disposing of passive activities to free up suspended passive losses

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General

• New Training Tool: Checkpoint Instant Assistant – What is the Checkpoint Instant Assistant? It’s just-in-time training! Each Checkpoint Instant Assistant topic is a brief snippet of training that teaches the step-by-step process for performing commonly used Checkpoint functions. The first set of topics available in December 2006 include:
  
  
  • Setting up Speedlink
  • Navigating your Search Results
  • Saving or Scheduling a Search
  • Using Checkpoint’s Table of Contents
  • Adding a Checkpoint User – Managing your Checkpoint User ID

How to Access the Checkpoint Instant Assistant: From the Home tab, select Checkpoint Instant Assistant from the Training and Support pane, and then select a topic.

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