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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 Jul 02, 2018
Monday Jul 02, 2018
https://player.vimeo.com/video/277796505
https://www.currentfederaltaxdevelopments.com/podcasts/2018/6/30/2018-07-02-postcard-week
IRS releases a new “postcard” dratt for Form 1040 along with 6 schedules CPA who advised on ESOP and prepared 5500s was still found to be an independent appraiser on third time to court IRS publishes the list of qualified opportunity zones under TCJA’s Section 1400Z-1 A amendment of a return with fraudulent positions does not reduce the fraud penalty Taxpayer discovers IRS had not agreed to waive all penalties when taxpayer agreed to exam changes 2018-07-02 Postcard Week from Loscalzo
Monday May 14, 2018
Monday May 14, 2018
https://player.vimeo.com/video/269381991
This Week's Topics
- Taxpayer had to include son’s savings account in determination of solvency
- 2019 HRA amounts announced by the IRS
- IRS changes Section 382 recognized built-in gain/loss safe harbors due to changes made by TCJA
- Revenue procedure issued to deal with requests to change accounting methods due to ASC 606 adoption for financial statements
- General automatic method change revenue procedure annual update published by IRS
- Taxpayer found to have no asset to sell and, due to that, income was ordinary and not capital in nature
Monday May 07, 2018
Monday May 07, 2018
https://player.vimeo.com/video/268178329
This Week's Topics
- Oklahoma governor vetoes an expansion of tattletale law
- Small businesses warned about tax ID theft targeted at them
- Organization denied exempt status, was ruled to be the organizer’s consulting business
- IRS delays TCJA third party life insurance policy sale reporting rules/li>
- Taxpayer did not reasonably rely on advice in taking a tax position, penalties applied
Monday Apr 02, 2018
Monday Apr 02, 2018
https://player.vimeo.com/video/262653152
This Week's Topics
- OVDP program to end on September 28, 2018
- Entire cost of having international firm prepare returns for employees sent overseas treated as wages
- Conundrum only a tax attorney could love - dealing with a sale case where the regulations don’t give guidance
- Guidance given on reporting and paying Section 965 transition tax
- Mansion was never actually a rental, so loss was a capital loss rather than a 1231 loss
Monday Dec 11, 2017
Monday Dec 11, 2017
https://player.vimeo.com/video/246600742
This Week's Topics
- Conference committees appointed and Joint Committee on Taxation issues report on differences
- IRS memo clarifies the tax treatment of a disgorgement payment following U.S. Supreme Court decision
- Qualified plan required amendment (RA) list published for 2017
- No loss allowed on sale to former spouse
- IRS found not to have conducted a second examination of the taxpayers’s books and records
Monday Dec 04, 2017
Monday Dec 04, 2017
https://www.youtube.com/embed/s-2gpp3b3Bc
This Week's Topics
- Senate passes their version of HR1, setting up moving to a conference committee
- IRS gets access to information from bitcoin exchange
- The Tax Court uses English law to determine if a payment was alimony for federal tax purposes
- A safe harbor casualty loss rule is adopted for damage to concrete foundations caused by pyrrohite
- A taxpayer is denied a deduction for legal fees to recover overpaid alimony
- More relief for partnerships due to change in filing dates for 2016 returns
- The Tax Court updates its views on how to evaulate Stamps.com postmarks under timely filing rules
Monday Nov 27, 2017
Monday Nov 27, 2017
https://player.vimeo.com/video/244456961
This Week's Topics
- HR1 moves to the Senate floor this week
- Taxpayer does not have COD income when relieved of requirement to pay back overpayments on pension
- Qualified plan relief provisions extended to victims of California wildfires
- Court does not accept attempt to use FLP discount to create income tax loss from liquidation of S corporation formed to hold FLP interest
- No basis to shareholders in debt to S corporation other S corporation shareholders controlled
- IRS issues FAQ on QSEHRAs
Monday Nov 20, 2017
Monday Nov 20, 2017
Monday Nov 13, 2017
Monday Nov 06, 2017
Monday Nov 06, 2017