This week, Lynn Nichols covers the following topics and others this week:

• IRS backlog of tax exempt determination letters – Tax Payer Advocate.
• 7th Circuit Court of Appeals – Affirming the denial of estate charitable deduction by Catholic Priest Anthony J. Timolis. Estate was valued at around $3,000,000
• Proposed regulations concerning sales or exchanges of standing timber.
• 3rd Circuit’s affirmation of a lower court denial on Alcoa’s “claim of right” issue
• Region’s Financial Corporation filed petition to quash IRS summons to Ernst & Young for their tax accrual workpapers. This relates to the confluence of Fin 48 and The More Likely Than Not Standard and may signal an increase in this activity by the IRS.
• And other topics…