In This Issue:

Obama v. Romney Tax Plans; IRS Rules That Excess Mortgage Servicing Is “Good” Asset and Produces “Good” Income for REIT purposes; Tax Court Finds Arrangement to be Equity for Tax Purposes in Pepsico Puerto Rico, Inc. v. Commissioner; Court Addresses Demutualization Tax Treatment in Dorrance v. United States; United States and United Kingdom Enter into FATCA Cooperation Agreement; IRS Issues Guidance on Dealer Status; IRS Releases Regulations on Integrated Hedging Transactions of Qualifying Debt; Tax Court: TurboTax Not to Blame for Underreporting of Income; More Uncertainty Regarding Medicare Tax; and MoFo in the News.

Excerpt from Obama v. Romney Tax Plans -

With the presidential election in the final stretch, Barack Obama and Mitt Romney have laid out tax plans that represent different fundamental beliefs about the tax code. This chart outlines some of the major differences between the plans.