This week we look at:

• IRS revises classification of clean vehicles for purposes of determining vehicles subject to $80,000 MSRP limit

• Proposed revenue procedure published to establish new voluntary tip reporting procedure

• Taxpayer’s log of every mile of vehicle use had issues that prevented Tax Court from accepting it for meeting burden under IRC §274(d)

An audio only version of this week’s broadcast can be streamed or downloaded below:

A PDF of the slides for this week’s update can be downloaded below;

2023-02-06 Current Federal Tax Developments