FICPA Podcasts

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The FICPA podcast is to inform and educate our members & the CPA community with today’s hottest issues. Our mission is to serve our members, enhance their competency & professionalism, support professional standards, promote the value of our members & advocate on behalf of the CPA Profession.

Episodes

Monday Nov 28, 2022

Federal Tax Update: Difficulties Using LLC as Legal Entity for S Corporation

Monday Nov 28, 2022

https://vimeo.com/775484140

https://www.currentfederaltaxdevelopments.com/podcasts/2022/11/27/2022-11-28-difficulties-using-llc-as-legal-entity-for-s-corporation

This week we look at:

Damage award found to not be for physical injuries, entire amount taxable
Partnership language in LLC operating agreement revision terminated S corporation status (creating a C corporation)
Taxpayer failed to wait required 6 months for IRS to act on refund claim before filing suit