FICPA Podcasts

Florida Sales and Use Tax - What is taxable and Issues to know

James Sutton, Attorney and CPA with Moffa, Sutton & Donnini talks about Florida Sales and Use Tax issues with Mia A. Thomas, CPA, CGMA Director of Learning - Curriculum Development with the FICPA. What general types of items and services are taxable in Florida? When do you need to start collecting and filing sales and use tax returns. Hear James share about the transfer of sales tax liability and how you can avoid criminal and civil sales tax fraud. What major industries does the Florida Department of Revenue potentially look and why.

Federal Tax Update: Bring on the New HRAs

https://vimeo.com/342468445

https://www.currentfederaltaxdevelopments.com/podcasts/2019/6/15/2019-06-17-bring-on-the-new-hras

Current Federal Tax Developments for the week of June 17, 2019: Bring on the New HRAs

• IRS to stop faxing transcripts, only mail them to taxpayer’s address of record

• Final regulations issued for state tax credit donations and new way to report credit as tax paid

• IRS finalizes regulations creating two new HRAs

The Evolution of the Accounting Profession - Embrace Change

Gary Fracassi, 2018 - 2019 FICPA Chair of the Board discusses with Mia Thomas, FICPA Director of Learning the future of the accounting profession. The notion of disruption to unlearn what we know already, learn new skills, re-learn skills and put them to use.  

Federal Tax Update: Being Yourself as a Business

https://vimeo.com/341108695

https://www.currentfederaltaxdevelopments.com/podcasts/2019/6/8/2019-06-10-being-yourself-as-a-business

This week we are looking at:

• S corporation status lost when SMLLC shareholder adds a new interest holder

• Tax Court does not accept author’s attempt to treat a portion of her income as not self-employment income

• IRS releases employer tables and worksheets for TCJA-aware draft Form W-4

• TIGTA finds that LB&I imposes accuracy-related penalties at lower rate than does SE/SE

• Envelope used to file Tax Court petition lacked postmark, taxpayer could not explain delivery much later than would be expected for timely mailed document

Work Smarter, Making More Money and Taking More Time Off

Chuck Bauer, sales and business consultant and trainer, talks about working smarter and time management strategies with Mia Thomas, FICPA Director of Learning - Curriculum Development. Don't Overthink the Think - overdo the Do and other prioritization strategies are shared. Learn how you can transform you and your organization.

Federal Tax Update: Sweating the Details (or Lose Out)

https://vimeo.com/339738434

https://www.currentfederaltaxdevelopments.com/podcasts/2019/6/1/2019-06-03-sweating-the-details-or-lose-out

This week we look at:

• Evangelizing did not give rise to charitable deduction for most expenses

• DC Circuit agrees with Tax Court that failure to disclose basis of asset doomed $33 million contribution

• Taxpayers lose nearly $1 million of basis due to lack of old documents

• IRS tries one more time to develop a W-4 for the TCJA era

Federal Tax Update: Another New Tax Bill

 

https://vimeo.com/338599794

https://www.currentfederaltaxdevelopments.com/podcasts/2019/5/26/2019-05-28-another-new-tax-bill

This week we look at:

• Virtual currency guidance promised by IRS Commissioner

• HSA numbers for 2020 released by IRS

• Auto depreciation limits for 2019 released by IRS

• House passes retirement reform bill, would drastically cut back on the use of stretch IRAs

• Assistant US Attorney warns preparers about criminal exposure when they don’t raise enough issues about loan

Federal Tax Update: Schedule D Problem

https://vimeo.com/337037074

https://www.currentfederaltaxdevelopments.com/podcasts/2019/5/18/2019-05-20-schedule-d-problem

This week we look at

• Review Wolters Kluwer IRS response and other issues

• IRS releases a new worksheet for computing tax when there are 25% or 28% gains

• Tax Court finds IRS did not have authority to find Medicare difficulty payments nontaxable in Notice 2014-7

• CA10 agrees with Tax Court that S corporation cannot accrue wages on participants

• Taxpayer materially participated in activity under facts and circumstances test

Federal Tax Update: May 13, 2019

https://vimeo.com/335633734

https://www.currentfederaltaxdevelopments.com/podcasts/2019/5/11/2019-05-13-malware-cybersecurity-and-tax-practice

This week we look at:

• Wolters Kluwer CCH systems suddenly taken offline due to malware issue

• GAO criticizes security of e-file providers and software developers

• IRS updates maximum vehicle values for cents-per-mile and FAVR

• IRS clarifies redemptions treated as dividends taxation when paid during post-termination transition period

• Deduction for Connecticut estate taxes must be reduced by portion allocable to state’s gift taxes added back paid in 3 prior years

• My boss ordered me to do it doesn’t work for trust fund penalty even when the boss is an agent of a federal

Federal Tax Update: Fragile: Handle with Care - S Corporations

https://player.vimeo.com/video/334209666

https://www.currentfederaltaxdevelopments.com/podcasts/2019/5/4/2019-05-06-fragile-handle-with-care-s-corporations

Current Federal Tax Developments for the week of May 6, 2019: Fragile: Handle with Care - S Corporations

• Taxpayer’s marriage forces repayment of advance PTC, unfairness is not a defense

• State tax refundable credit in excess of taxes is taxable income to taxpayer

• IRS expands determination letter to cover a limited number of existing plans

• LLC operating agreement adoption terminates S election