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		<title>McGladrey: Tax Alerts</title>
		<description><![CDATA[Timely, single-topic notifications on tax developments that may have an immediate impact on you and your business.]]></description>
		<link>http://mcgladrey.com/</link>
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			<title>New ITIN rules for the 2013 tax filing season may impose new burdens</title>
			<link>http://mcgladrey.com/Tax-Alerts/New-ITIN-rules-for-the-2013-tax-filing-season-may-impose-new-burdens</link>
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			<description><![CDATA[(May 2013) Effective Jan. 1, 2013, the IRS implemented new procedures affecting the Individual Taxpayer Identification Number (ITIN) application process. These changes are part of an ongoing effort by the IRS to deter fraud and improve the refund process. The revised procedures ensure only individuals with a clear tax administrative purpose receive an ITIN. The new procedures will apply to taxpayers applying for an ITIN to use in preparing their 2012 tax returns.]]></description>
		<dc:creator>McGladrey</dc:creator>
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			<title>Marketplace Fairness Act clears Senate heads to House middle market retailers watch and wait</title>
			<link>http://mcgladrey.com/Tax-Alerts/Marketplace-Fairness-Act-clears-Senate-heads-to-House-middle-market-retailers-watch-and-wait</link>
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			<description><![CDATA[(May 2013) On May 6, 2013, the Senate voted 69-27 in favor of the Marketplace Fairness Act of 2013 (the Act), a bill intended to achieve sales tax collection and remittance parity between remote sellers and local retailers. The Act grants qualifying states the authority to compel remote sellers to collect and remit sales tax on all sales subject to tax, regardless of whether they have nexus in the state to which the goods are delivered. Currently, the responsibility for remitting complementary use tax in these circumstances lies with the individual consumer.]]></description>
		<dc:creator>McGladrey</dc:creator>
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			<title>Colleges and Universities Compliance Project final report posted to IRS website</title>
			<link>http://mcgladrey.com/Tax-Alerts/Colleges-and-Universities-Compliance-Project-final-report-posted-to-IRS-website</link>
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			<description><![CDATA[(May 2013) The IRS launched the Colleges and Universities Compliance Project in 2008 with the distribution of detailed questionnaires to 400 randomly selected colleges and universities. The IRS subsequently selected 34 of the 400 questionnaire respondents for examination because their questionnaire responses and Form 990 reporting indicated potential noncompliance in the areas of unrelated business income (UBI) and executive compensation.]]></description>
		<dc:creator>McGladrey</dc:creator>
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			<title>IRS issues updated directive to exam agents on tangible asset and repair regulations</title>
			<link>http://mcgladrey.com/Tax-Alerts/IRS-issues-updated-directive-to-exam-agents-on-tangible-asset-and-repair-regulations</link>
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			<description><![CDATA[(April 2013) On March 22, 2013, the Large Business and  International (LB&I) division of the IRS issued a directive (LB&I-04-0313-001) providing administrative guidance to agents  conducting examinations of the repair versus capitalization issue under  sections 162(a) and 263(a). This directive replaces LB&I-4-0312-004 (see IRS issues directive to  exam agents on tangible assets and repairs regulations) and follows amendments to the temporary regulations  regarding the deduction and capitalization of expenditures related to tangible  property (TD 9456) that delayed the effective date of the temporary and  pending final regulations until taxable years beginning on or after Jan. 1,  2014 (see Temporary tangible asset  regulations date officially delayed).]]></description>
		<dc:creator>McGladrey</dc:creator>
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			<title>Taxation of income on state tax incentives When is an incentive includible in income?</title>
			<link>http://mcgladrey.com/Tax-Alerts/Taxation-of-income-on-state-tax-incentives-When-is-an-incentive-includible-in-income</link>
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			<description><![CDATA[(March 2013) Taxpayers often struggle to determine whether state incentives should be included in gross income and, if so, when that inclusion occurs. Often, a taxpayer will seek to treat such an incentive as a section 118 capital contribution in order to exclude it from gross income. However, section 118 only applies to corporations and entities taxed as associations. Further, there has been significant IRS scrutiny on the application of section 118 to many state incentives.]]></description>
		<dc:creator>McGladrey</dc:creator>
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