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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.
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Monday Dec 30, 2019
Federal Tax Update: The Year's Big Tax Developments
Monday Dec 30, 2019
Monday Dec 30, 2019
This week we look at the big developments in taxes for 2019 as we come to the end of the year:
- 199A final regulations – a pre-tax season package that had to be quickly understood
- 2019’s year end tax bills – comes in three parts, along with a good portion of the government’s full appropriations package
- The IRS’s fascination with tax basis capital, and the profession’s reaction to the same
- 199A FAQ – so we’ll have fewer sub-regulatory guidance items, but that doesn’t mean it all gets reviewed like regulations. Or, perhaps, be careful what you wish for…
- States looking to extend their tax reach, but in a case with limited application SCOTUS did find there are some limits
- Additional items beyond the top five…
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