In addition to elections for individuals, businesses, estates, and trusts, it covers elections for specific industries, including oil and gas and farming. The Deskbook provides fill-in-the-blank sample elections that ensure the elections you and your staff prepare for your clients meet all of the technical requirements without having to wade through the Code, regulations and IRS pronouncements. It also shows you how to obtain relief for late or missed elections.
The Deskbook also contains guidance and samples for preparing information statements to help you quickly meet the reporting rules for many common transactions (e.g., Section 351 transfers or tax-free reorganizations).
The current edition of the Deskbook contains numerous new and updated elections necessitated by recent legislation including, for example, the following: