FICPA Podcasts

FICPA CEO Conversations: Barry Melancon

For this edition of FICPA CEO Conversations, we are honored to be joined by one of our most important partners in the profession. Barry Melancon is the President & CEO of the American Institute of Certified Public Accountants and the CEO of the Association of International Certified Professional Accountants. In this in-depth discussion, Shelly and Barry touch on a variety of topics impacting CPAs, including the state of the profession, IRS service issues, Client Advisory Services, recruiting and retaining talent, ESG, private equity and M&A, and association management.

Federal Tax Update: Highlights of the Inflation Reduction Act of 2022

https://vimeo.com/739475431

https://www.currentfederaltaxdevelopments.com/podcasts/2022/8/14/2022-08-14-highlights-of-the-inflation-reduction-act-of-2022

 

House and Senate pass the Inflation Adjustment Act of 2022 and we look at some key provisions

• Increase in funding at the IRS
• Continuation of 2021-2022 Premium Tax Credit Rules
• Tax credits on clean energy vehicles
• Expansion & extension of residential energy credits
• Credit transfer provisions

Federal Tax Update: Revised Virtual Asset Questions for 2022 form 1040

https://vimeo.com/737392496

https://www.currentfederaltaxdevelopments.com/podcasts/2022/8/7/2022-08-08-revised-virtual-asset-question-for-2022-form-1040

 

This week we look at:

• IRA 2022 passes the Senate with revisions, House to take it up this week and may vote on Friday
• Inflation adjusted premium tax credit percentages released
• IRS revises questions on digital assets on Form 1040 for 2022
• $51 million payment was not deductible alimony
• IRS finalizes removal of signature requirement on §754 election

Federal Tax Update: Will It Pass and What Is In It

https://vimeo.com/735283780

https://www.currentfederaltaxdevelopments.com/podcasts/2022/8/1/2022-08-01-ira-of-2022-will-it-pass-and-what-is-in-it

 

This week we look at:

• Proposed Inflation Reduction Act of 2022 - will it pass and what’s in it?
• Taxpayer told by court suit is being dismissed, must file 2020 income tax return to obtain economic impact payment not previously sent to taxpayer
• IRS Security Summit warns tax pros about significant security threats to taxpayer data in their systems

 

FICPA CEO Conversations: Dave Clauson

The latest episode of FICPA CEO Conversations is a deep dive into one of the business world's hottest topics: Environmental, Social, and Governance, otherwise known as ESG. Dave Clauson is the Director of ESG at FORVIS, where he assists clients in assessing their current performance, determining potential areas for improvement, and creating tools, processes and procedures to enhance future ESG execution. Shelly and Dave discuss how ESG represents an opportunity for CPAs and how climate risks and climate disclosures will impact businesses in the years to come.

Federal Tax Update: You Can’t Rely on Your Accountant Spouse

https://vimeo.com/733037570

https://www.currentfederaltaxdevelopments.com/podcasts/2022/7/24/2022-07-25-you-cant-rely-on-your-accountant-spouse

 

This week we look at:

• IRS wants preparers to advise clients to opt-in to IP-PIN program.
• TAM holds that an activity that is treated as a material participation activity for five straight years under SPA test will be a material participation activity under the 5/10 test in year 6
• Breadwinner not granted innocent spouse relief when she failed to inquire about or review return prepared by accountant spouse

FICPA CEO Conversations: Shawn McCabe

In our latest edition of CEO Conversations, FICPA President & CEO Shelly Weir is joined by CPS Investment Advisors' CPAlliance Director Shawn McCabe. This is a talk centered on financial planning and Client Advisory Services.

Shelly and Shawn will cover what firms and practitioners need to know if they're considering adding CAS. They'll also illustrate the value of becoming a Personal Financial Specialist (PFS) and Registered Investment Advisor (RIA). Finally, they'll discuss both the benefits of and hurdles to adding CAS as the accounting industry continues to evolve.

Federal Tax Update: IRS Liberalizes Late Portability Election Relief

https://vimeo.com/728657412

https://www.currentfederaltaxdevelopments.com/podcasts/2022/7/10/2022-07-11-irs-liberalizes-late-portability-election-relief

 

This week we look at:

• Discussions start up again for the reconciliation bill.
• IRS extends automatic late portability election relief to five years
• Federal tax lien attached to payments being made to seller’s former spouse for alimony by business buyer
• No reasonable cause for late payment and late filing

Federal Tax Update: TAS Starts Accepting Referrals from Congress

https://vimeo.com/726774026

https://www.currentfederaltaxdevelopments.com/podcasts/2022/7/4/2022-07-05-tas-starts-accepting-referrals-from-congress

 

This week we look at

• Taxpayer Advocate Service begins accepting referrals on 2021 and earlier original & amended returns from Congressional offices
• Car dealer had more than “some” guarantee of right to retain cash deposits
• Fifth Circuit rules that substantial compliance on charitable donations cannot be sufficient for failure to follow the statute, as opposed to regulations

Federal Tax Update: IRS Falling Further Behind Dealing with Paper

https://vimeo.com/724262674

https://www.currentfederaltaxdevelopments.com/podcasts/2022/6/26/2022-06-27-irs-falling-further-behind-dealing-with-paper

 

This week we look at:

• Senate Finance Committee takes action on retirement bill
• IRS and National Taxpayer Advocate release information on processing paper tax returns
• Supreme Court to take on case involving computing FBAR penalties
• IRS adds voice bot support for some ACS issues