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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
Tuesday May 31, 2022
Tuesday May 31, 2022
This week we look at:
- Taxpayer discovers her documentation for a charitable contributions did not meet the IRC requirements
- IRS rules an enterprise involved in retail drug sales is a qualified trade or business under IRC §1202
Monday May 23, 2022
Monday May 23, 2022
This week we look at:
- Physician’s payments are found not to be deductible alimony under pre-TCJA divorce agreement
- IRS announces option for employer leave-based donation programs related to aid for Ukraine
- IRS extends, likely for the final time. option to remotely sign certain plan documents
Monday May 16, 2022
Monday May 16, 2022
This week we look at:
- Forming new corporation didn’t break connection to prior material participation
- Ninth Circuit find return was filed even though not send to location in the regulations
- IRS destroyed 30 million paper returns
- Taxpayer filed return too early
- No duress in requesting extension of time to file
Monday May 09, 2022
Monday May 09, 2022
This week we look at:
- First inflation adjusted numbers for 2023: Health Savings Accounts
- Failure to properly execute estate plan by trustees force S corporation to get PLR to retain status
- CCISO’s recommendation on grant of innocent spouse relief not binding on Chief Counsel’s office in Tax Court deficiency proceeding
Monday May 02, 2022
Monday May 02, 2022
This week we look at:
- Special rules under IRC §104 for military disability and retirement income
- Expenses claimed as management fees treated as distributions to owners
- Proposed regulations to limit use of certain techniques for use of anti-clawback rules
- It’s going to be a longer than expected wait to file K-2/K-3 for S corporations via MeF
Monday Apr 25, 2022
Monday Apr 25, 2022
This week we look at:
- Tax rules for no-additional cost services
- SCOTUS refuses to hear challenge to SALT cap
- IRS finally grants election/accounting method relief for retroactive 2019 changes
- Rules for a real estate professional
- IRS expands on Schedules K-2 and K-3 FAQs on April 11
Monday Apr 04, 2022
Monday Apr 04, 2022
This week we look at:
- IRS Suspends Mailing More Notices - This Time Related to Exempt Organizations
- Tax Court Affirms IRS Denial of Interest Abatement
- Securing a Strong Retirement Act Passes House Overwhelmingly
- Above the Line Classroom Teacher’s Deductions Increases to $300 in 2022
Monday Mar 28, 2022
Monday Mar 28, 2022
This week we look at:
- IRS releases SIFL rates for first half of 2022
- IRS discussion of taxation of crowdfunding in light of new Form 1099-K rules
- Ninth Circuit affirms that legal settlement is taxable
- No de minimis relief for issue with erroneous information returns
Monday Mar 21, 2022
Monday Mar 21, 2022
This week we look at:
- IRS releases revised depreciation limits for 2022 for autos under IRC §280F
- Lawmakers send yet another letter to the IRS regarding stopping the sending of notices
- Farmer/fisherman estimated tax payment relief formalized in an IRS Notice
Tuesday Mar 15, 2022
Tuesday Mar 15, 2022
This week we look at:
- Department of Labor warns §401(k) plan administrators regarding offer digital asset investment options
- No deduction allowed to corporation for paying tuition for training program for boyfriend of 100% shareholders’ daughter
- IRS announces program to deal with the backlog of returns and correspondence