Articles in this issue include:

• IRS Relaxes Section 956 Rules to Provide Liquidity in Current Financial Crisis
• Newly Enacted Code Section 457A Applies to "Nonqualified Deferred Compensation from Certain Tax Indifferent Parties"
• IRS Addresses Loss Limitations Amidst Financial Crisis
• The Wait is Over: Relief Has Arrived for Taxpayers Owing AMT Arising from the Exercise of ISOs
• Proposed Regulations for Outbound Transfers Under Code Sections 367, 1248, and 6038B
• Proposed Regulations Under Section 336(e) Expand Universe of Elective Deemed Asset Sales
• PLR 200803004: The IRS Issues Guidance on the Treatment of the Series LLC
• The Unified Loss Rule: Loss Disallowance, Just in Time for the Credit Crunch
• LMSB Finally Rolls Out Tier 3 Issues for the Industry Issue Focus Program
• How the Grocer Skinned the CAT: Imposition of Ohio Commercial Activity Tax on Food Sales Held Unconstitutional
• California Court of Appeal Allows Only Partial Refund of Unconstitutional LLC Fee
• Asia Pacific Tax Conference Offers Engaging Tax Strategy Discussions