For the 2011 edition of Taxation of Business Entities, the Spilker author team has spent considerable time making careful revisions to the textbook and its supplements. These specific enhancements have been made in the 2011 edition:

• All chapters and tax forms have been updated for new tax law, making them current through January of 2010. Other updates beyond January can be found on the book’s Online Learning Center: www.mhhe.com/spilker2011
An independent accuracy checker read every page of pageproof and solutions manual to ensure that there were no errors. Each tax return problem, exhibit, and example was carefully checked to make sure that the calculations and form references were accurate.
In addition, in the Testbank, every multiple choice question, true/false question, and problem was checked for accuracy by an independent reviewer. Several new problems were added to chapters 5 and 6.
New coverage of the recurring item exception, and a corresponding “What If?” example has been added to chapter 1.
In chapter 4, a new Key Facts has been added for the legal classification and nontax characteristics of entities.
In chapter 5, toward the end of learning objective 2, the Net Operating Loss section has been replaced with new Examples 8, 9 and 10. Also, the coverage of ACE Adjustments has been replaced in learning objective 4.
As a result of the recent FASB codification changes, chapter 6 is now entitled “Accounting for Income Taxes”.
A new exhibit has been added to chapter 6 demonstrating the UTP disclosure from the Microsoft Corporation for 2008 and 2009.
A new Taxes in the Real World has been added to chapter 7, discussing a recent quarterly cash dividend increase for McDonald's.
In chapter 8, some additional explanation of the rules applied to when Section 1244 stock is issued by a corporation in exchange for property that has an adjusted basis.
In chapter 8, a new Taxes in the Real World box has been added to discuss Disney's acquisition of Marvel Entertainment in August 2009 (an effort to qualify the transaction as a reorganization, according to Section 368(a)).
In chapter 13, a new Taxes in the Real World box has been added to discuss a growing trend of companies moving their headquarters to Switzerland to avoid high corporate taxes elsewhere.
Upcoming potential changes in the taxing of multinational corporations are discussed in a new paragraph before the Conclusion of chapter 13.