FICPA Podcasts

Federal Tax Update: A Tax Bill for the Holidays

December 20, 2019

https://vimeo.com/381030981

https://www.currentfederaltaxdevelopments.com/blog/2019/12/22/secure-act-extenders-and-repeal-of-certain-aca-taxes-enacted-as-part-of-year-end-appropriations-act  

 

This week we look at:

 Further Consolidated Appropriations Act, 2020 signed into law on December 20, 2019

  • SECURE Act

    • The good: Delay in required beginning date for plan distributions, later plan adoption date, etc.
    • The bad: Death of the stretch IRA
  • Extenders apply retroactively - so there are some amended returns that will be needed
  • Tax-exempt version of the parking lot tax is gone, but the for profit version is still around