Federal Tax Update Podcast

Federal Tax Update Podcast Series
Current Federal Tax Developments for the week of March 18, 2019: Technicalities and Glitches Software glitches in the first years under TCJA Lump sum social security benefits are part of MAGI for the premium tax credit Safe harbor statements have to be signed and then attached to electroni...
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This week we talk about the following: Look at some items causing confusion over §199A on discussion forums as returns are prepared Treasury announces changes in temporary regulations and subregulatory guidance Recipients of sexual harassment and sexual abuse settlements with confidentiali...
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Current Federal Tax Developments for the week of March 4, 2019: Tax Refunds and the 2019 Tax Returns A look at the special rules under §111 for tax benefit and how it impacts state tax refunds from 2018 returns No Fifth Amendment defense against assertion that taxpayer is trafficking under §...
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This week we look at: State found to illegally discriminate against federal law enforcement retirees due to tax break for state law enforcement retirees IRS decides expanded availability of meal delivery means fewer meals are truly for the convenience of the employer IRS acquiesces in case...
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This week we look at: Fix for auto depreciation quirk added by TCJA released by IRS A subtrust qualified as a conduit trust for IRA distribution purposes AICPA asks for relief from potential impact of syndicate rules on small business tax relief Form 1065 instructions add a requirement f...
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This week we look at: Situations where an employer can recover HSA funds from employee accounts IRS decides taxpayers can use Rev. Proc. 2018-60 even if currently using an impermissible method of accounting Taxpayer reasonably relied on CPA's advice and escapes penalties Airline passenge...
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This week we look at: IRS delays end of faxing transcripts after Chair and ranking minority member of Senate Finance Committee send a joint letter requesting a delay Taxpayers could not avoid NOL carryforward election they claimed they were unaware of IRS publishes corrected version of §19...
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This week we look at: Reported IRS backlog of unanswered letters that arrived during the shutdown IRS publishes information on impact of shutdown on matters before the Tax Court W-2 wages Revenue Procedure made final at same time §199A final regulations come out More thoughts on the §199...
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This week we look at: New York State Publishes Its Wayfair Guidance, Demanding Immediate Compliance Trust Case Going to US Supreme Court Sequestration Does Not Apply to Minimum Tax Credit Proposed Safe Harbor for Rental as a Trade or Business Under §199A Final Regulations Are Out - §965 and, th...
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This week we look at: IRS reopens IVES and user-fees based programs Advisers need to be sure to check syndicate rules to assure entity not subject to §163(j) rules Treat of realtors revised in second draft version of portion of Publication 535 Filing season to start January 28, refunds a...
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This week's developments: IRS Notice gives guidance to tax-exempt organizations on excess compensation tax Outgoing W&M Chairman publishes discussion paper on TCJA technical corrections §199A final regulations still sitting at OIRA Copyright 2019, Kaplan, Inc.
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This week we look at: Loan Adviser Found Not Liable to Repay in FINRA Treated as Ordinary Income from Debt Forgiveness IRS Raises Values Dramatically on Vehicles Eligible for Cents-Per-Mile and Fleet-Average Valuation Rules Safe Harbor Issued on Charitable Contribution Credits Related to a...
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This week we look at: Just prior to the one year anniversary of TCJA, we finally get a Joint Committee staff Blue Book.on the law Tax credits for purchases of Teslas are being phased-out during 2019 MFP payments found in IRS memorandum to be taxable income and part of self-employment incom...
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This week we look at: IRS releases more proposed regulations Lack of documentation dooms deduction for taxpayers §199A final regulations sent to OIRA for review Guidance issued on valuing employer-provided parking for parking lot tax Relief given for some tax-exempt organizations first...
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This week we look at the following items: Wisconsin passes its version of an optional passthrough tax to get around SALT limits, but with a twist Guidance released on Section 81(i) stock elections Taxpayer finds you still need some documentation to claim cellular phone expenses IRS fails...
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This week we look at: Proposed anti-clawback regulations issued Final §263A negative amount regulations issued §163(j) proposed regulations leave OIRA (finally), last step before publication Copyright 2018, Kaplan, Inc.
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This week we look at the following items: IRS publishes 2019 inflation adjusted figures IRS notes increase in breaches of systems of tax return preparers in 2018 Filing and deposit date relief announced for victims of California wildfires IRS email discusses application of due diligence ...
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This week we look at the following items: §163(j) proposed regulations due this week IRS releases final TCJA due diligence regulations Country singer found not to operate night club for a profit Foreign earned income denied when taxpayer did not show his abode was outside the United Stat...
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This week we look at the following items: Inflation-adjusted retirement plan numbers for 2019 released IRS publishes draft Form 990-T and instructions with details on the parking lot tax Students lose at DC Circuit in attempt to claim travel deductions A Blue Book on TCJA may be coming s...
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This week we look at the following items: Court finds IRA and plan balance received in divorce not protected in bankruptcy Interest limitation proposed regulations (except for passthroughs) heads to OMB Connecticut crumbling foundation relief clarified to also create NOLs that can be carri...
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