FICPA Podcasts

Federal Tax Update: No Horse, No Business

https://vimeo.com/357081100

https://www.currentfederaltaxdevelopments.com/podcasts/2019/8/31/dskr2u0nswq526yq8hbhxjq89mhmbg

 

Issues for this week:

 

• Tax Court finds that taxpayer did not have a trade or business of raising/showing horses since she didn’t have a horse
• Tax Court rejects IRS’s “step in the shoes” theory for gifted partnership interest with interest from debt-financed distribution received by donor
• IRS accepts court’s revision of IRA beneficiary, surviving spouse allowed to treat IRA as her own
• Coffeehouse was not a §501(c)(3) charitable organization
• Notice of deficiency sent to addresses used on returns found to be sent to last known address

 

Federal Tax Update: Watching Paint Dry Doesn't Count

https://vimeo.com/355762879

https://www.currentfederaltaxdevelopments.com/podcasts/2019/8/24/2019-08-24-watching-paint-dry-doesnt-count

 

This week we look at:

• Taxpayer found both to have chosen the accrual method and to be required to use it as well
• §451 proposed regulations exit OIRA review
• Taxpayers records found to overstate hours by 150 hours, not qualified as a real estate professional
• IRS issues formal memo changing position on ability to claim foreign tax credit on certain French taxes

Working Smarter: Utilizing Delay Send for Emails

Hear from Chuck Bauer, sales and business consultant and Mia Thomas, CPA, CGMA FICPA Director of Learning - Curriculum Development discuss a smart email send delay strategy to help you work smarter utilizing technology.

Federal Tax Update: George M Would Be Proud

https://vimeo.com/354401706

https://www.currentfederaltaxdevelopments.com/podcasts/2019/8/17/2019-08-19-george-m-would-be-proud

This week we look at:

• Taxpayer “wins” on a Cohan style case, but things don’t really go well

• Qualified plan distribution is part of taxable income for the taxpayer even if the taxpayer doesn’t cash the check

• An estate cannot avail itself of the economic disability tolling of the statute of limitations (and it wouldn’t have mattered anyway).

• IRS to send out estimated tax penalty refund checks to 400,000 taxpayers

How to Bill a Million Dollars Using Technology

Jody Padar, The Radical CPA - CEO & Principal of New Vision CPA Group, shares with Mia Thomas, CPA, CGAM - FICPA Director of Learning Curriculum Development, a business model to wake up and use technology. Jody will be a keynote speaker at the FICPA Accounting Show in September 2019.

Federal Tax Update: Toto Needs Sales Tax Money

https://vimeo.com/353111642

https://www.currentfederaltaxdevelopments.com/podcasts/2019/8/10/2019-08-12-toto-needs-sales-tax-money

This week we look at:

●Kansas releases out of state seller rules that have no de minimis levels

●Memorandum holds that partial denial of earned income tax credit can lead to loss of all credit for following two years

●Tennessee court finds that Boyle rule still applies, taxpayer cannot rely on preparer to efile extension

●New online tax withholding estimator released by IRS, second revised Form W-4 follows shortly after

●Revised third-party contact rules released prior to Taxpayer First Rule change that takes effect August 15, 2019

Problem Solving - What Kind of Issue is it?

Join the conversation with Steven Morrison, CPA - Partner in National Assurance Audit Quality Group at CohnReznick and Mia Thomas, CPA, CGMA - Director of Learning, Curriculum Development at FICPA discuss Problem Solving. What kind of issue is it? Accounting or assurance.

Federal Tax Update: About That Bitcoin

This week we look at:

• IRS sends out 10,000 letters on cryptocurrency, including some demanding a response

• Relief granted on three bonus depreciation elections for year that includes September 28, 2017

• Draft Schedule K-1 for Form 1120S revised to change §199A information reporting

• Letter ruling holds a partial deduction allowed for DNA tests requested by an individual

• Organization not operated exclusively for charitable purpose, §501(c)(3) status revoked retroactively

https://vimeo.com/351705614

https://www.currentfederaltaxdevelopments.com/podcasts/2019/8/2/2019-08-05-about-that-bitcoin

 

Federal Tax Update: 1982 Tax Form Nostalgia Week

https://vimeo.com/350405287

https://www.currentfederaltaxdevelopments.com/podcasts/2019/7/26/2019-07-29-1982-tax-form-nostalgia-week

Current Federal Tax Developments for the week of July 29, 2019: 1982 Tax Form Nostalgia

• IRS releases final regulations on §501(c)(4) notice

• Taxpayers who paid certain French taxes may have refund opportunities

• Six new compliance initiatives announced by IRS

• Minor relief granted to file superseding returns to some CPAR covered partnerships

• IRS releases a new draft version of Form 1099-NEC for the first time in 38 years

Volunteering with the Florida Institute of Certified Public Accountants - FICPA

Winston Churchill said "You make a living by what you get. You make a life by what you give." The FICPA has many opportunities to volunteer with our organization. Hear from former Chair of the Board, Gary Fracassi and Council member, Dan Henn discuss with FICPA Director of Learning - Curriculum Development, Mia Thomas on how they are involved with serving at the FICPA.