25.8K
Downloads
393
Episodes
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 Apr 12, 2021
Monday Apr 12, 2021
This week we look at:
- IRS gives guidance on ARPA and the advance premium tax credit for 2020
- CCA issued to give details on apply tax provisions to hard forks of virtual currency
- IRS disagrees with court decision on treatment of defined benefit pension benefit for insolvency
- A restaurant is defined for 100% deduction
- The saga of 2020 Form 1040 overpayments, extensions and first quarter estimates
Monday Apr 05, 2021
Monday Apr 05, 2021
This week we look at:
- IRS gives details on automatic refunds on unemployment exclusion
- Formal notice of extension of time to file 2020 Forms 1040 issued
- IRS updates ERC guidance for the version for first six months of 2021
- A look at the mess that is the issue of whether controlling shareholder wages can qualify for ERC
Monday Mar 29, 2021
Monday Mar 29, 2021
This week we look at:
- IRS makes a major change in computation of excludable ARPA unemployment
- PPP loan program applications extended for two months - but funds only likely to last until mid-April without replenishment
- PPE is defined by the IRS to represent medical care for purposes of deducting the expenses
Monday Mar 22, 2021
Monday Mar 22, 2021
This week we look at:
- IRS releases instructions on reporting ARPA unemployment exclusion
- AICPA recommends IRS issue clarification on PPP forgiveness/passthrough issues
- IRS pushes back the filing date for Forms 1040 only - everything else still due on April 15, including Q1 2021 estimates
Monday Mar 15, 2021
Monday Mar 15, 2021
A look at the American Rescue Plan Act of 2021
- Unemployment exclusion for 2020
- Recovery Rebate for 2021
- Prepaid Child Tax Credit for 2021
- Earned Income Tax Credit Changes
- Refundable Dependent Care Assistance
- Sick/Family Leave Credits
- 2021 Employee Retention Credit
- Premium Tax Credit Revisions
Monday Mar 08, 2021
Monday Mar 08, 2021
This week we look at:
- SBA gets PPP loan program change guidance published
- Senate revises proposed COVID-19 relief bill, adds partial exclusion for unemployment compensation
- IRS continues to “clarify” the virtual currency question on Form 1040
- Guidance issued on interaction of PPP forgiveness and 2020 employee retention credit
Monday Mar 01, 2021
Monday Mar 01, 2021
This week we look at:
- Late revisions to PPP loan program
- House passes new COVID-19 relief bill, moves on to Senate
- Taxpayer gets out of tax on $300,000 of credit card rewards
- Texas taxpayers get extension to June 15
Monday Feb 22, 2021
Monday Feb 22, 2021
This week we look at:
- A §280E case with potential impact outside of the cannabis industry
- Legal malpractice settlement could not be treated as excludable physical injury award
- IRS admits to an issue with 260,000 notices
- Calls come to extend the April 15 deadline again this year
Monday Feb 15, 2021
Monday Feb 15, 2021
This week we look at:
- Taxpayer finds no relief from FBAR penalties
- Tax Court outlines when it will allow a taxpayer to argue substance over form
- IRS warns about a phishing scam aimed at tax professionals
Monday Feb 08, 2021
Monday Feb 08, 2021
This week we look at:
- Form 1040 final instructions add to virtual currency confusion
- Teachers COVID-19 supply safe harbor released
- No relief for employee with unused FSA dependent care funds
- Form 1099 relief for CARES items not treated as taxable