FICPA Podcasts

Federal Tax Update - Oct. 30, 2017

https://player.vimeo.com/video/240300175

This Week's Topics

• House adopts Senate budget resolution beginning tax reform process
• A taxpayer’s amount of claimed theft loss found excessive by Tax Court
• An expert’s testimony did not substitute for records of cost of goods sold
• IRS summons to state agency found to be proper
• IRS memo discusses indirect loan issues for church 403(b) plan

Federal Tax Update - Oct. 23, 2017

https://player.vimeo.com/video/239257011

This Week's Topics

• IRS releases inflation adjusted tax factors for 2018
• LB&I Division issues guidance on unit of property and major component issues for the mining industry
• IRS announced retirement plan numbers for 2018
• IRS announces nonacquiesence in S corporation/real estate professional decision
• Anti-Kerr regulations officially withdrawn by the IRS
• 2017 Returns without health care information will not be accepted for efiling
• A court decision that appears to arrive at approximately the right place, but for all the wrong reasons

Federal Tax Update - Oct. 16, 2017

https://player.vimeo.com/video/238200331

This Week's Topics

• Filing date relief issued by IRS for victims of Northern California wildfires
• Challenge to minister’s housing allowance exclusion returns to court
• Tax Court will assert strict subordination requirement for mortgages on conservation easements outside First Circuit
• Signature no longer required for §754 election
• Retroactive loss of tax-exempt status going back a decade proves very costly in terms of interest on unpaid tax
• IRS email discusses potential impact on due date disaster relief and date for assessment of tax

Federal Tax Update - Oct. 9, 2017

https://player.vimeo.com/video/237220639

This Week's Topics

• South Dakota petitions the Supreme Court for its Quill challenge
• Congress passes a Hurricane relief bill
• Taxpayer did not willfully fail to file FBAR
• Parents are held liable to repay dependent son’s advanced health insurance credit
• LB&I announces method that can be used to start with ASC 750 research expenses in computing qualified research expenditures
• Time off donation programs expanded to cover Hurricane Maria relief donations
• IRS releases special per diem rates for new fiscal year

Federal Tax Update - Oct. 2, 2017

https://player.vimeo.com/video/236220903

This Week's Topics

• Standard deduction and personal exemptions
• Individual tax brackets
• Alternative minimum tax repeal
• Itemized deductions
• Work, education and retirement issues
• Estate and GST Tax repeal
• Business tax rates
• Expensing of capital improvements
• Interest expense
• Other business deductions and credits
• Offshore corporate earnings
• Where does this go from here?

Federal Tax Update - Sept. 25, 2017

https://player.vimeo.com/video/235085305

This Week's Topics

• Hurricane Irma relief expanded to cover entire state of Georgia
• Volunteer attorney finds himself in a conflict of interest mess when husband has a change of heart
• Payment for issues in foreclosure found to create taxable income
• IRS opens pilot PLR program for D Reorg/Section 355 issues
• Proposed regulations issued for truncated SSNs on W-2--but not until 2018 W-2s

Federal Tax Update - Sept. 18, 2017

https://player.vimeo.com/video/234146587

This Week's Topics

• IRS Extends Harvey Relief to Victims of Irma
• South Dakota Ready to Ask Supreme Court to Throw Out Quill
• Massachusetts Releases Regulations That Broadly Define Physical Presence
• IRS Has Right to Examine First Deceased Spouse Form 706 to Decrease DSUE at Second Death

Federal Tax Update - Sept. 11, 2017

https://player.vimeo.com/video/233123489

This Week's Topics

• Section: 72 IRS Memorandum Gives Examples of Applying Plan Loan Grace Period Rules
• Section: 165 Loss Does Not Qualify for Special Relief Revenue Procedure from Madoff Era
• And Much More...

Federal Tax Update - Sept. 5, 2017

https://player.vimeo.com/video/232166465

This Week's Topics

• Section: 36B Taxpayer Had to Repay Excess Premium Credit Despite Exchange Not Reacting to Notice of Change in Income
• Section: 73 Loss from Competing in Pageants Reportable on Return of Minor Daughter, Not Parents
• And Much More...

Federal Tax Update - Aug. 28, 2017

https://player.vimeo.com/video/231210026

This Week's Topics

• Section: 162 No Deduction Allowed for Premiums Paid to Related Entity in Microcaptive Structure
• Section: 401 ESOP Failed to Cover Employees of Related Corporation, Plan Disqualified
• And Much More...