The 2006 Cumulative supplement includes the updates on the following topics:
- Capital gains exclusion to unrelated business income
- Tax treatment of immigration-related expenses (green-card attorneys’ fees, visa expenses, etc.) paid by a college or university on behalf of its employees and other individuals
- Tax-free discharges of student loans and whether a student has income when his or her student loan is forgiven by a school in return for the performance of future services
- Unrelated business income tax exception for income derived from the sale of products derived from the conduct of a related activity
- New IRS treatment of ancillary joint venture activities