FICPA Podcasts

Federal Tax Update - Sep. 17, 2018

https://player.vimeo.com/video/290069156
https://www.currentfederaltaxdevelopments.com/podcasts/2018/9/15/2018-09-17-are-349-filings-unconstitutional
South Dakota enacts remote seller law to implement Wayfair decision beginning November 30 Colorado tests the limits of Justice Kennedy’s holdings in Wayfair Even though records were imperfect, Tax Court finds taxpayer was a real estate professional Opportunity Zone regulations at OMB, expected out around end of the month IRS rules math error procedures can be used even after refunds are issued 2018-09-17 Are 349 Filings Unconstitutional from Kaplan Accounting CE on Vimeo .   Click to listen to the

Federal Tax Update - Sep. 10, 2018

https://player.vimeo.com/video/288822347
https://www.currentfederaltaxdevelopments.com/podcasts/2018/9/7/2018-09-10-salt-clarification-well-not-really
South Dakota to hold a special session so the state can begin to take advantage of their victory in the Wayfair case Taxpayer who withdrew IRA funds based on a notice of intent to levy cannot escape 10% additional tax IRS clarifies the application of the proposed SALT regulations leading to a bevy of questions IRS memorandum concludes seismic fees for offshore drilling must be amortized and cannot be treated as intangible drilling costs President issues an Executive Order for DOL and Treasury to consider

Federal Tax Update - Sep. 4, 2018

https://player.vimeo.com/video/287838155
https://www.currentfederaltaxdevelopments.com/podcasts/2018/9/1/fq9plkmvcdxs8hknv0762fw3flir1n
IRS warns tax professionals about FTC’s Safeguards Rule for confidential data Clarification of how change in exemption amounts will apply to items tied to exemption amounts Lessee is not able to claim conservation deduction for facade easement Letter ruling approves program where employer makes plan contribution for employees who pay on their student loans Taxpayer allowed extra time for late rollover where she had relied on spouse for tax and financial matters when couple separated while rollover

Federal Tax Update - Aug. 27, 2018

https://player.vimeo.com/video/286686228
https://www.currentfederaltaxdevelopments.com/podcasts/2018/8/25/2018-08-27-state-tax-credits-take-a-hit
Taxpayers creating multiple entities to try and avoid double taxation of C corporation income find their plan fails IRS issues SALT workaround regulations and affect both new and pre-existing state tax credit programs Modifications made to automatic accounting method revenue procedure to deal with S corporation revocations under special TCJA rule Guidance provided on applying the rules to compute UBTI separately for each trade or business 2018-08-27 State Tax Credits Take a Hit from Kaplan Accounting CE on

Federal Tax Update - Aug. 20, 2018

https://player.vimeo.com/video/285648489
https://www.currentfederaltaxdevelopments.com/podcasts/2018/8/18/2018-08-20-irs-stays-quiet-states-keep-going
Oregon Supreme Court rules no physical presence required to be subject to corporate income tax Idaho sends out notices to retailers that it’s moving forward with affiliate rule for collecting sales tax IRS prevails over AICPA on question of issuing credential for unenrolled tax preparers AICPA sends comments to the IRS and Treasury on S corporation and Section 461(l) issues following TCJA 2018-08-20 IRS Stays Quiet, States keep Going from Kaplan Accounting CE on Vimeo .   Click to listen to the audio

Federal Tax Update - Aug. 13, 2018

https://player.vimeo.com/video/284553577
https://www.currentfederaltaxdevelopments.com/podcasts/2018/8/11/2018-08-13-199a-regulations-some-answers-some-questions

• Aggregation into a single trade or business
• Definitions of specified service activities
• Various anti-abuse rules

Federal Tax Update - Aug. 6, 2018

https://player.vimeo.com/video/283240602
https://www.currentfederaltaxdevelopments.com/podcasts/2018/8/4/2018-08-06-tcja-guidance-appears
Proposed regulations for 965 are issued, others on state and local tax workarounds submitted to OMB Majority of states that impose a sales tax now have published post-Wayfair remote seller collection requirements and start dates Proposed regulations on which taxpayers may rely issued on bonus depreciation Automatic accounting method change guidance issued for TCJA small business accounting methods 529 plan revised guidance to deal with TCJA and other recent changes Guidance issued on additional

Federal Tax Update - Jul. 30, 2018

https://player.vimeo.com/video/282115994
https://www.currentfederaltaxdevelopments.com/podcasts/2018/7/28/2018-07-30-a-199a-glimmer-of-hope
First 199A regulations are sent to OMB for review Minnesota tests whether lower limits than South Dakota will work under Wayfair Utah enacts South Dakota limits for remote sellers Another US District Court agrees that the IRS’s own regulations limit the FBAR willfulness penalty amount Taxpayer stuck with transferee liability after entering into transaction to sell corporation 2018-07-30 A 199A Glimmer of Hope from Loscalzo Institute on Vimeo .   Click to listen to the audio . Alternatively, you may

Federal Tax Update - Jul. 23, 2018

https://player.vimeo.com/video/281065702
https://www.currentfederaltaxdevelopments.com/podcasts/2018/7/21/2018-07-23-taxing-trusts-roadblocks
Two state supreme courts restrict their states’ ability to tax trusts IRS issued PMTA on willfulness for FBAR penalty Forfeitures now can be used to fund QMACs and QNECs IRS discusses the impact on taxable wages of a payroll tax examination Many exempt organizations will no longer have to file Schedule B with Form 990 Proposed regulations issued on due diligence expansion to head of household status added by TCJA 2018-07-23 Taxing Trusts Roadblocks from Loscalzo Institute on Vimeo .   Click to listen

Federal Tax Update - Jul. 9, 2018

https://player.vimeo.com/video/278832158
https://www.currentfederaltaxdevelopments.com/podcasts/2018/7/7/2018-07-09-the-states-strike-back

• Louisiana looks to adopt its law to fit within Justice Kennedy’s outline of acceptable protections for interstate commerce
• Alabama, though not a member of SSUTA, will begin requiring collection on October 1
• Wisconsin, an SSUTA member but without a de minimis limit, will also want collections on October 1
• New Jersey adopts a law that duplicates South Dakota and adds marketplace provisions