FICPA Podcasts

FICPA Podcasts

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FICPA Podcasts episodes

  • Federal Tax Update: Boyle Decision Applies to Electronic Filing

    https://vimeo.com/879224264?share=copy

    https://www.currentfederaltaxdevelopments.com/podcasts/2023/10/29/2023-10-30-boyle-decision-applies-to-electronic-filing

    This week we look at

    • Taxpayers can’t rely on paid preparer as reasonable cause for late filing, even when using electronic filing
  • IRS could assert negligence penalty (and obtain supervisory approval) after failing to obtain approval for substantial underpayment penalty
  • IRS makes “temporary” electronic signature program permanent by moving it into the Internal Revenue Manual
    • 39 min
  • Federal Tax Update: An Offer the Actor Should Have Refused

    https://vimeo.com/876717974?share=copy 

    https://www.currentfederaltaxdevelopments.com/podcasts/2023/10/21/2023-10-23-an-offer-the-actor-should-have-refused

    This week we look at

    • PTIN renewals are now open for 2024
  • IRS announces program to allow for withdraw of ERC claims
  • Actor’s estate loses in attempt to claim he had validly rolled over a non-traditional investment held in his IRA
    • 23 min
  • Federal Tax Update: EV Credit Transfer to Dealer Guidance Issued

    https://vimeo.com/872317299?share=copy

    https://www.currentfederaltaxdevelopments.com/podcasts/2023/10/8/2023-10-09-ev-credit-transfer-to-dealer-guidance-issued

     

    This week we look at

    • Sloppy records cost CPA the vast majority of his business deductions
  • IRS issues warning about art deduction tax promotions aimed at high-income taxpayers
  • IRS gives details on transfers of electrical vehicle credits to dealers beginning in 2024
    • 45 min
  • Federal Tax Update: Limited Delay in Some CTA BOI Initial Report Filing Dates

    https://vimeo.com/869903918?share=copy

    https://www.currentfederaltaxdevelopments.com/podcasts/2023/9/30/2023-09-30-limited-delay-in-some-cta-boi-initial-report-filing-dates

     

    This week we look at:

    • IRS reduces PTIN fees substantially
  • Wash sale rules do not apply to losses on disposition of money market funds
  • IRS highlights new capabilities added to TaxPro accounts
  • Employers can set up leave-based donation programs for 2023 Hawaii wildfire relief
  • FinCEN grants 60 additional days for entities created in 2024 to file initial reports
    • 32 min
  • Federal Tax Update: FinCEN Issues Guide for Small Business CTA BOI Reporting

    https://vimeo.com/867545216?share=copy

    https://www.currentfederaltaxdevelopments.com/podcasts/2023/9/23/2023-09-25-fincen-issues-guide-for-small-business-cta-boi-reporting

     

    This week we look at:

    • FinCEN provides guide to small businesses for beneficial ownership reporting under the Corporate Transparency Act
  • Taxpayer cannot rely on the mailbox rule to prove timely mailing/filing of tax return, as §7502 is the sole way of proving timely postmark and get presumption of delivery
  • Impact of receipt of a CP2100/2100A notice on backup withholding
    • 47 min
  • Federal Tax Update: Halt in ERC Claim Processing for New Claims

    https://vimeo.com/865165599?share=copy

    https://www.currentfederaltaxdevelopments.com/podcasts/2023/9/16/2023-09-18-halt-in-erc-claim-processing-for-new-claims

     

    This week we look at:

    • Just having a CPA prepare a taxpayer’s return does mean the taxpayer will get reasonable cause relief for assessments
  • IRS announces halt to processing of new ERC claims until after 2023, will slow processing of claims currently in progress
    • 1 hr 6 min
  • Federal Tax Update: Electronic Filing of Information Return Mandate Issues

    https://vimeo.com/860494726?share=copy

    https://www.currentfederaltaxdevelopments.com/podcasts/2023/9/2/2023-09-05-electronic-filing-of-information-return-mandate-issues

     

    This week we look at:

    • HHS sends letter to DEA recommending that marijuana be reclassified as a Schedule III drug
  • General guidance issued determining tax status of 2023 state payments - and IRS asks for comments prior to giving additional guidance
  • IRS clarifies limits of 2007 CCA on ESBTs and NOLs

    • News release on electronic filing of Form 8300

    53 min
  • Federal Tax Update: Week of IRS Delaying Requirements

    https://vimeo.com/858464561?share=copy

    https://www.currentfederaltaxdevelopments.com/podcasts/2023/8/27/2023-08-28-week-of-irs-delaying-requirements

     

    This week we look at:

    • Proposed regulations issued for digital asset broker reporting on Form 1099-DA
  • IRS delays requirement for high income employees to make employer plan catch-up contribution to designated Roth accounts until plan years beginning after December 31, 2025
  • 2024 health care premium tax credit percentages published by the IRS
    • 29 min
  • Federal Tax Update: Renting the Owner’s to Their Business Didn’t Work as Well as Expected

    https://vimeo.com/856245715?share=copy

    https://www.currentfederaltaxdevelopments.com/podcasts/2023/8/20/2023-08-21-renting-the-owners-homes-to-their-business-didnt-work-as-well-as-expected

     

    This week we look at:

    • Limited relief likely coming for beneficial ownership reporting
  • IRS being challenged in an attempt to treat state law limited partners as receiving SE income
  • Rent your home to your business for 13 days each year plan mainly failed
  • Advance memo states IRS objection to a marketed trust tax avoidance plan
  • IRS memo explains credit unions can only claim COVID ERC on 2021 wages
    • 56 min

About FICPA Podcasts

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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…