ITS Washington Dispatch, September 2011

Recent US developments on the deficit, jobs, and overall economy -- Congressional "supercommitte" begins work -- IRS issues proposed rules on Section 1256 and notional principal contracts -- IRS addresses domestic corp’s insolvent foreign sub that makes CTB election to be treated as partnership -- IRS and Treasury release 2011-2012 Priority Guidance Plan -- Ninth Circuit affirms Tax Court in Samueli v. Commissioner