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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
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
Monday Sep 19, 2022
Monday Sep 19, 2022
This week we look at:
- IRS memorandum states that PPP loan forgiveness is taxable if taxpayer did not actually qualify for forgiveness granted
- AICPA adds to items requested for additional penalty relief under Notice 2022-36
Monday Sep 12, 2022
Monday Sep 12, 2022
https://www.currentfederaltaxdevelopments.com/podcasts/2022/9/11/2022-09-11-proposed-earn-act
This week we look at:
- Chair and Ranking Member of the Senate Finance Committee send Enhancing American Retirement Now (EARN) Act to the Senate floor
- IRS inadvertently makes Form 990-T data on non-§501(c)(3) organizations available for bulk download
- Reasonable cause for failure to file/pay does not include common financial challenges