FICPA Podcasts

Federal Tax Update: About That Bitcoin

August 6, 2019

This week we look at:

  • IRS sends out 10,000 letters on cryptocurrency, including some demanding a response

  • Relief granted on three bonus depreciation elections for year that includes September 28, 2017

  • Draft Schedule K-1 for Form 1120S revised to change §199A information reporting

  • Letter ruling holds a partial deduction allowed for DNA tests requested by an individual

  • Organization not operated exclusively for charitable purpose, §501(c)(3) status revoked retroactively