FICPA Podcasts

FICPA CEO Conversations: Recapping Florida’s 2022 Legislative Session

In the latest edition of FICPA CEO Conversations, Shelly Weir sits down our Director of Governmental Affairs, Justin Thames, and the President of Liberty Partners of Tallahassee, Jennifer Green, to recap the 2022 Florida Legislative Session.

Justin and Jennifer have been hard at work these last 60 days, representing the interests of Florida's CPAs and advocating on behalf of the profession. As the 2022 Session comes to a close, this edition of CEO Conversations highlights the issues the FICPA has been engaged in on your behalf.

FICPA CEO Conversations: Florida DBPR Secretary Melanie Griffin

In our latest edition of CEO Conversations, FICPA President & CEO Shelly Weir sits down with Florida's new Secretary of the Department of Business and Professional Regulation, Melanie Griffin. They discuss Secretary Griffin's confirmation hearings, her key initiatives for the Department, and the specific ways the FICPA and DBPR can continue to work together to advance the CPA profession in Florida.

Federal Tax Update: Farmer and Fisherman Tax Software Relief

https://vimeo.com/685218170

https://www.currentfederaltaxdevelopments.com/podcasts/2022/3/6/2022-03-07-farmer-and-fisherman-tax-software-relief

 

This week we look at:

• IRS looks to increase EA user fees by over 100%
• Justice Department files motion to have staking case dismissed as moot
• IRS to grant relief to certain farmers and fisherman impacted by inability of some tax software to file Form 7203 by March 1

Federal Tax Update: At Least One Couple Were Not Tax People

https://vimeo.com/682635542

https://www.currentfederaltaxdevelopments.com/podcasts/2022/2/27/2022-02-28-at-least-one-couple-were-not-tax-people

 

This week we look at:

• Proposed regulations on required minimum distributions
• AICPA and state societies letter on delay for K-2 and K-3 filings
• Data entry error did not provide reasonable cause for tax understatement

Federal Tax Update: IRS Releases K2 and K3 Relief

https://vimeo.com/679703525

https://www.currentfederaltaxdevelopments.com/podcasts/2022/2/20/2022-02-21-irs-issues-additional-k-2-and-k-3-filing-relief-how-much-does-it-help

 

This week we look at:

 

This week we look at the IRS's newly issued 2021 Schedule K-2 and K-3 filing relief. How much does the option added in Question 15 of the newly released FAQ on K-2 and K-3 issues really help partnerships and S corporations? Who does and doesn't qualify for this relief? And what about 2022 and future years?

Federal Tax Update: IRS Suspends Issuing More Notice Types

https://vimeo.com/676800178

https://www.currentfederaltaxdevelopments.com/podcasts/2022/2/13/2022-02-14-irs-suspends-issuing-more-notice-types

 

This week we look at:

• IRS adds more information on research credit claims issues
• LB&I announces new partner basis campaign
• IRS expands list of notices being temporarily suspended
• K-2 and K-3 filing issues being addressed by vendors, IRS defends process

Federal Tax Update: Tax Pros Account Improvements Coming

https://vimeo.com/674141687

https://www.currentfederaltaxdevelopments.com/podcasts/2022/2/6/2022-02-07-taxpros-account-improvements-coming

 

This week we look at:

• Continuing saga of the K-2 and K-3 filing issues, including an extreme delay in accepting them electronically.
• Consider interim filing method to electronically file these returns
• OPR Director announces that IRS plans to add features to TaxPro site by mid-summer, additional features added for following year.
• OPR Director also notes that Treasury has finished reviewing the revisions to Circular 230

Federal Tax Update: There are K-2s and K-3s in Your Future

https://vimeo.com/671552738

https://www.currentfederaltaxdevelopments.com/podcasts/2022/1/29/2022-01-31-there-are-k-2s-and-k-3s-in-your-future

 

This week we look at:

• IRS revises instructions for Schedule K-2 and K-3 and points taxpayers to fact more may need to file this than might have thought they would
• IRS stops issuing one (and just one) automated notice, complains about issues blocking doing more
• AICPA issues statement critical of IRS statement on giving relief, wants all Tax Professionals United for Taxpayer Relief Coalition recommendations adopted

Federal Tax Update: Forms and Instructions

https://vimeo.com/669115743

https://www.currentfederaltaxdevelopments.com/podcasts/2022/1/23/2022-01-24-forms-and-instructions-week

 

This week we look at

• IRS issues updated substantially equal payment guidance
• Final version of basis reporting form for S corporation shareholders issued by IRS
• IRS clarifies how to report expenses used to obtain PPP forgiveness on Schedule M-2
• IRS completes guidance on reporting options for timing of PPP loan forgiveness income recognition

Federal Tax Update: Pressured to Grant Relief for Automated Notice Issues

https://vimeo.com/666503808

https://www.currentfederaltaxdevelopments.com/podcasts/2022/1/16/2022-01-17-irs-pressured-to-grant-broad-relief-for-automated-notice-issues

 

This week we look at:

• Form 1024 joins Form 1023 in becoming online only filings
• Pressure builds on the IRS to pause automated notices in light of inability to handle correspondence on notices already issued
• IRS announces beginning of filing season along with other information for the season