Current Federal Tax Developments

For this week of May 9, 2016 in Current Federal Tax Developments Don Cochran, JD, CPA joins Ed Zollars, CPA to discuss the following developments:

• IRS “fires” partners who are employees of disregarded entities
• Spouse gets innocent spouse relief even though all income was from his business
• IRS gives relief when need for QSST election after merger not realized
• New comprehensive list of automatic accounting method changes issued

Current Federal Tax Developments is brought to you by the state societies of CPAs and Nichols Patrick Incorporated.

A PDF file containg the articles for the items discussed in this week's podcast can be downloaded below.

• Current Federal Tax Developments - May 9, 2016

For this week of May 9, 2016 in Current Federal Tax Developments Don Cochran, JD, CPA joins Ed Zollars, CPA to discuss the following developments:

• IRS “fires” partners who are employees of disregarded entities
• Spouse gets innocent spouse relief even though all income was from his business
• IRS gives relief when need for QSST election after merger not realized
• New comprehensive list of automatic accounting method changes issued

Current Federal Tax Developments is brought to you by the state societies of CPAs and Nichols Patrick Incorporated.

A PDF file containg the articles for the items discussed in this week's podcast can be downloaded below.

• Current Federal Tax Developments - May 9, 2016

For this week of May 2, 2016 in Current Federal Tax Developments we look at:

• The IRS’s reach extends to the high seas
• Another conservation easement deduction bites the dust
• HSA limits for 2017 come out and little changes
• After a series of errors, the IRS grants a taxpayer permission to undo an larger than desired Roth IRA conversion
• California’s donor disclosure law, constitutional on its face, found to not be constitutional due to botched execution by the state
• We will one more year of not having the information we need on Forms 1098Ts as educational institutions given relief from PATH law change

Current Federal Tax Developments is brought to you by the state societies of CPAs and Nichols Patrick Incorporated

The audio only version can be played by clicking the triangle below, or downloaded for offline listening via the download link.

A PDF of the articles on the topics discussed this week can be downloaded below:

• 2016-05-02 Current Federal Tax Developments

For this week of May 2, 2016 in Current Federal Tax Developments we look at:

• The IRS’s reach extends to the high seas
• Another conservation easement deduction bites the dust
• HSA limits for 2017 come out and little changes
• After a series of errors, the IRS grants a taxpayer permission to undo an larger than desired Roth IRA conversion
• California’s donor disclosure law, constitutional on its face, found to not be constitutional due to botched execution by the state
• We will one more year of not having the information we need on Forms 1098Ts as educational institutions given relief from PATH law change

Current Federal Tax Developments is brought to you by the state societies of CPAs and Nichols Patrick Incorporated

The audio only version can be played by clicking the triangle below, or downloaded for offline listening via the download link.

A PDF of the articles on the topics discussed this week can be downloaded below:

• 2016-05-02 Current Federal Tax Developments

For this week of April 25, 2016 in Current Federal Tax Developments we look at:

• The Seventh Circuit tells us the hobby loss regulations are “goofy”
• Tax professional’s computer systems found to be targeted for takeovers
• Do tax credit carryover survive the death of the spouse that generated the credit?
• The IRS denies a request to approve a deduction for program to encourage employee contributions to political action committee
• IRS backtracks on “bad boy” provisions in nonrecourse loans
• Clarifying examples added to program-related investment rules for private foundations
• Ignorance did not lead to tax related marital bliss

Current Federal Tax Developments is brought to you by the state societies of CPAs and Nichols Patrick Incorporated

The articles for this week can be downloaded from the link below.

• 2016-04-25 Current Federal Tax Developments

For this week of April 25, 2016 in Current Federal Tax Developments we look at:

• The Seventh Circuit tells us the hobby loss regulations are “goofy”
• Tax professional’s computer systems found to be targeted for takeovers
• Do tax credit carryover survive the death of the spouse that generated the credit?
• The IRS denies a request to approve a deduction for program to encourage employee contributions to political action committee
• IRS backtracks on “bad boy” provisions in nonrecourse loans
• Clarifying examples added to program-related investment rules for private foundations
• Ignorance did not lead to tax related marital bliss

Current Federal Tax Developments is brought to you by the state societies of CPAs and Nichols Patrick Incorporated

The articles for this week can be downloaded from the link below.

• 2016-04-25 Current Federal Tax Developments

For this week of April 18, 2016 in Current Federal Tax Developments we look at:

• IRS gives inflation adjusted numbers for ACA and aircraft
• IRS explains how to deal with HSA contributions for the year a taxpayer signs up for Medicare
• Why going with the K-1 turned out to be a problem
• Back to the Future - DHL returns to the Private Delivery Service list

Current Federal Tax Developments is brought to you by the state societies of CPAs and Nichols Patrick Incorporated.

You can download a PDF with articles on the issues discussed this week on the show below:

2016-04-18 Weekly Update

For this week of April 18, 2016 in Current Federal Tax Developments we look at:

• IRS gives inflation adjusted numbers for ACA and aircraft
• IRS explains how to deal with HSA contributions for the year a taxpayer signs up for Medicare
• Why going with the K-1 turned out to be a problem
• Back to the Future - DHL returns to the Private Delivery Service list

Current Federal Tax Developments is brought to you by the state societies of CPAs and Nichols Patrick Incorporated.

You can download a PDF with articles on the issues discussed this week on the show below:

2016-04-18 Weekly Update