FICPA Podcasts

Federal Tax Update: Impacts of the Election on Tax

https://vimeo.com/770499628

https://www.currentfederaltaxdevelopments.com/podcasts/2022/11/13/2022-11-14-impacts-of-the-election-on-tax

 

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?

Federal Tax Update: S Corporation Schedule K-2 and K-3 Draft Instructions Also Released

https://vimeo.com/767811992

https://www.currentfederaltaxdevelopments.com/podcasts/2022/11/6/2022-11-06-s-corporation-schedule-k-2-and-k-3-draft-instructions-also-released

 

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

Federal Tax Update: Partnership Schedule K-2Draft Instructions Issued

https://vimeo.com/765424882

https://www.currentfederaltaxdevelopments.com/podcasts/2022/10/30/2022-10-31-partnership-schedule-k-2-draft-instructions-issued

 

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

Federal Tax Update: Two Sets of Inflation Adjusted Numbers Released by IRS

https://vimeo.com/762960227

https://www.currentfederaltaxdevelopments.com/podcasts/2022/10/22/2022-10-24-two-sets-of-inflation-adjusted-numbers-released-by-irs

 

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

Federal Tax Update: Beneficial Owner Reporting Requirement Coming in 2024

https://vimeo.com/user37230624/download/756202736/db2b6f24e1

https://www.currentfederaltaxdevelopments.com/podcasts/2022/10/2/2022-10-03-beneficial-owner-reporting-requirement-coming-in-2024

 

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

Federal Tax Update: IRS News Releases Emphasizing Recent Guidance

https://vimeo.com/753399228

https://www.currentfederaltaxdevelopments.com/podcasts/2022/9/24/2022-09-26-irs-news-releases-emphasizing-recent-guidance

 

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

Federal Tax Update: New PPP Loan Tax Guidance Appears

https://vimeo.com/750995661

https://www.currentfederaltaxdevelopments.com/podcasts/2022/9/18/2022-09-18-new-ppp-loan-tax-guidance-appears

 

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

Federal Tax Update: Proposed EARN Act

https://vimeo.com/748560413

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

Federal Tax Update: AICPA Action Week

https://vimeo.com/746382204

https://www.currentfederaltaxdevelopments.com/podcasts/2022/9/5/2022-09-06-aicpa-action-week

 

This week we look at:

• AICPA issues proposed revisions to Statements on Standards for Tax Services
• AICPA requests additional guidance for filing of Schedules K-2 and K-3
• AICPA and NAEA ask for additional time to file 2019 and 2020 tax returns to get penalty relief

FICPA CEO Conversation: UF Athletics’ Melissa Stuckey

The latest episode of FICPA CEO Conversation is a timely and informative look at the rapidly evolving economics of college athletics! Melissa Stuckey is the Associate Athletic Director and CFO of the University of Florida's University Athletic Association. In this conversation, we dive into the finances of big-time college sports, explain in detail the current Name, Image and Likeness (NIL) landscape, and touch on the opportunities for CPAs to take the field, as they assist student-athletes who are now having to manage income and navigate taxation.