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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 Dec 19, 2022
Monday Dec 19, 2022
This week we look at:
- IRS memorandum looks at marketed program to defer recognition of legal fees
- Automatic change of accounting method procedure released by the IRS
- IRS publishes news release on upcoming FICA/SE tax 2020 deferral payment due date
Monday Dec 12, 2022
Monday Dec 12, 2022
This week we look at:
- IRS releases second draft of instructions for preparing 2022 Schedules K-2 and K-3 for partnerships and S corporations
- IRS begins issuing proposed regulations to deal with court losses on method used to add listed transactions not following the Administrative Procedures Act
Monday Nov 28, 2022
Monday Nov 28, 2022
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
Monday Nov 21, 2022
Monday Nov 21, 2022
https://www.currentfederaltaxdevelopments.com/podcasts/2022/11/20/2022-11-21-irs-news-releases
IRS news releases this week on:
- Qualified charitable distributions
- Seventh Annual National Tax Security Awareness Week
Monday Nov 14, 2022
Monday Nov 14, 2022
This week we look at:
- Tax Court finds that adding to listed transactions requires IRS to comply with Administrative Procedures Act
- Election results and likely tax actions in lame duck session
- What about next year with the new Congress?
Monday Nov 07, 2022
Monday Nov 07, 2022
This week we look at:
- IRS releases Form 1120-S Schedule K-2 and K-3 draft instructions with similar exceptions to Form 1065 version
- IRS gives some indication on when §174 guidance will come out
- Tax benefits alone not enough to establish taxpayer had a profit motive in solar lens leasing business
- IRS grants late rollover relief to victim of fraud
Monday Oct 31, 2022
Monday Oct 31, 2022
This week we look at:
- It’s PTIN renewal time again and the IRS has released a news release announcing the fact
- IRS publishes draft 2022 Form 1065 Schedules K-2 and K-3 instructions with revised exceptions to filing Schedules K-2 and K-3
Monday Oct 24, 2022
Monday Oct 24, 2022
This week we look at:
- IRS announces and appears to roll out pilot program to block automated calling systems
- 2023 inflation adjusted general tax amounts released by the IRS
- Retirement/IRA limitations released for 2023
Monday Oct 03, 2022
Monday Oct 03, 2022
https://vimeo.com/user37230624/download/756202736/db2b6f24e1
This week we look at:
- FinCEN releases final regulations that will require beneficial owner reporting for small LLCs and corporations
- IRS updates FAQ for state and local fiscal recovery funds used for home purchases
- Hurricane Ian relief announced by Treasury, delays most filings to February 15, 2022
Monday Sep 26, 2022
Monday Sep 26, 2022
This week we look at:
- IRS issues reminder on penalty relief deadline that makes some modifications
- IRS publishes another news release pushing the CCA on improper PPP loan forgiveness