FICPA Podcasts

Federal Tax Update - Apr. 1, 2019

https://player.vimeo.com/video/327455561
https://www.currentfederaltaxdevelopments.com/podcasts/2019/3/30/2019-04-01-tax-benefit-rules-and-refunds
Electric vehicle credits for GM vehicles to begin one year phase out IRS gives formal guidance on treatment of state income tax refunds following the TCJA $10,000 cap SALT workaround regulations and related notice sent to OIRA IRS changes requirements to obtain EIN, requires responsible person to have SSN or ITIN Final regulations published on reportable transaction law modifications from 2010   Click to listen to the audio . Alternatively, you may download the file to your computer by right clicking your

Federal Tax Update - Mar. 25, 2019

https://player.vimeo.com/video/326056731
https://www.currentfederaltaxdevelopments.com/podcasts/2019/3/23/2019-03-25-more-underpayment-relief
QBI and disallowed passive losses Minister’s housing allowance ruled to be acceptable under the U.S. Constitution Pilot had no profit motive for business related to vintage World War II aircraft IRS suspends two Revenue Rulings related to active trade or business issues under §355 Relief from underpayment of estimated tax penalty expanded by IRS   Click to listen to the audio . Alternatively, you may download the file to your computer by right clicking your mouse, choosing "Save Target As", then

Federal Tax Update - Mar. 18, 2019

https://player.vimeo.com/video/324626985
https://www.currentfederaltaxdevelopments.com/podcasts/2019/3/16/2019-03-18-technicalities-and-glitches
Software glitches in the first years under TCJA Lump sum social security benefits are part of MAGI for the premium tax credit Safe harbor statements have to be signed and then attached to electronically filed returns as a PDF Taxpayer’s mistake in listing old address on tax return proves costly Tax Court rejects no harm, no foul view with regard to penalties for filing an S corporation return late   Click to listen to the audio . Alternatively, you may download the file to your computer by right

Federal Tax Update - Mar. 11, 2019

https://player.vimeo.com/video/322457804
https://www.currentfederaltaxdevelopments.com/podcasts/2019/3/9/2019-03-11-199a-return-issues
Look at some items causing confusion over §199A on discussion forums as returns are prepared Treasury announces changes in temporary regulations and subregulatory guidance Recipients of sexual harassment and sexual abuse settlements with confidentiality clause allowed to deduct legal fees Gambling loss triggered by impulse control problem side effect of prescribed drug not a casualty loss Proposed regulations issued for FDII and GILTI IRS no longer plans to issue regulations to bar post-retirement lump-sum

Federal Tax Update - Mar. 4, 2019

https://player.vimeo.com/video/320947355
https://www.currentfederaltaxdevelopments.com/podcasts/2019/3/2/2019-03-04-tax-refunds-and-the-2019-tax-returns
A look at the special rules under §111 for tax benefit and how it impacts state tax refunds from 2018 returns No Fifth Amendment defense against assertion that taxpayer is trafficking under §280E IRS grants extension of time to file returns for farmers and fishermen Tax Court looks at the application of the penalty review process to automated exams IRS gave insufficient notice that a third party would be contacted for information   Click to listen to the audio . Alternatively, you may download the file to

Federal Tax Update - Feb. 25, 2019

https://player.vimeo.com/video/319193828
https://www.currentfederaltaxdevelopments.com/podcasts/2019/2/23/2019-02-25-co-op-real-estate-tax-issue
State found to illegally discriminate against federal law enforcement retirees due to tax break for state law enforcement retirees IRS decides expanded availability of meal delivery means fewer meals are truly for the convenience of the employer IRS acquiesces in case regarding meals for hockey teams Politico points out loophole that may exist for owners of co-op shares with regard to $10,000 tax limitations Looking at options beyond the safe harbor for rentals under §199A   Click to listen to the audio .

Federal Tax Update - Feb. 18, 2019

https://player.vimeo.com/video/317683120
https://www.currentfederaltaxdevelopments.com/podcasts/2019/2/16/2019-02-18-forms-and-instructions-week
Fix for auto depreciation quirk added by TCJA released by IRS A subtrust qualified as a conduit trust for IRA distribution purposes AICPA asks for relief from the potential impact of syndicate rules on small business tax relief Form 1065 instructions add a requirement for certain partnerships to disclose negative tax basis Checkbox added for when basis calculation required with Form 1040 and situations where it is required expanded by IRS   Click to listen to the audio . Alternatively, you may download the

Federal Tax Update - Feb. 11, 2019

https://player.vimeo.com/video/316298679
https://www.currentfederaltaxdevelopments.com/podcasts/2019/2/9/2019-02-11-tax-records-and-luggage
Situations where an employer can recover HSA funds from employee accounts IRS decides taxpayers can use Rev. Proc. 2018-60 even if currently using an impermissible method of accounting Taxpayer reasonably relied on CPA's advice and escapes penalties Airline passenger discovers he can't sue the TSA for his lost tax paperwork   Click to listen to the audio . Alternatively, you may download the file to your computer by right clicking your mouse, choosing "Save Target As", then selecting a location on your

Federal Tax Update - Feb. 4, 2019

https://player.vimeo.com/video/315012797
https://www.currentfederaltaxdevelopments.com/podcasts/2019/2/2/2019-02-04-what-is-in-a-word
IRS delays end of faxing transcripts after Chair and ranking minority member of Senate Finance Committee send a joint letter requesting a delay Taxpayers could not avoid NOL carryforward election they claimed they were unaware of IRS publishes corrected version of §199A regulations, changes one word some see as potentially important Article discusses risks to marijuana businesses from electing small business inventory relief added by TCJA   Click to listen to the audio . Alternatively, you may download the

Federal Tax Update - Jan. 28, 2019

https://player.vimeo.com/video/313688639
https://www.currentfederaltaxdevelopments.com/podcasts/2019/1/27/2019-01-28-irs-funding-restored-at-least-for-now
Reported IRS backlog of unanswered letters that arrived during the shutdown IRS publishes information on impact of shutdown on matters before the Tax Court W-2 wages Revenue Procedure made final at same time §199A final regulations come out More thoughts on the §199A final regulations   Click to listen to the audio . Alternatively, you may download the file to your computer by right clicking your mouse, choosing "Save Target As", then selecting a location on your computer to save the file. Click to watch