FICPA Podcasts

FICPA Podcasts

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FICPA Podcasts episodes

  • Federal Tax Update: Difficulties Using LLC as Legal Entity for S Corporation

    https://vimeo.com/775484140

    https://www.currentfederaltaxdevelopments.com/podcasts/2022/11/27/2022-11-28-difficulties-using-llc-as-legal-entity-for-s-corporation

     

    This week we look at:

    • Damage award found to not be for physical injuries, entire amount taxable
  • Partnership language in LLC operating agreement revision terminated S corporation status (creating a C corporation)
  • Taxpayer failed to wait required 6 months for IRS to act on refund claim before filing suit
    • 31 min
  • Federal Tax Update: IRS News Releases

    https://vimeo.com/773114585

    https://www.currentfederaltaxdevelopments.com/podcasts/2022/11/20/2022-11-21-irs-news-releases

     

    IRS news releases this week on:

    • Qualified charitable distributions
  • Seventh Annual National Tax Security Awareness Week

    •  

    37 min
  • Federal Tax Update: Impacts of the Election on Tax

    https://vimeo.com/770499628

    https://www.currentfederaltaxdevelopments.com/podcasts/2022/11/13/2022-11-14-impacts-of-the-election-on-tax

     

    This week we look at:

    • Tax Court finds that adding to listed transactions requires IRS to comply with Administrative Procedures Act
  • Election results and likely tax actions in lame duck session
  • What about next year with the new Congress?
    • 37 min
  • Federal Tax Update: S Corporation Schedule K-2 and K-3 Draft Instructions Also Released

    https://vimeo.com/767811992

    https://www.currentfederaltaxdevelopments.com/podcasts/2022/11/6/2022-11-06-s-corporation-schedule-k-2-and-k-3-draft-instructions-also-released

     

    This week we look at:

    • IRS releases Form 1120-S Schedule K-2 and K-3 draft instructions with similar exceptions to Form 1065 version
  • IRS gives some indication on when §174 guidance will come out
  • Tax benefits alone not enough to establish taxpayer had a profit motive in solar lens leasing business
  • IRS grants late rollover relief to victim of fraud
    • 45 min
  • Federal Tax Update: Partnership Schedule K-2Draft Instructions Issued

    https://vimeo.com/765424882

    https://www.currentfederaltaxdevelopments.com/podcasts/2022/10/30/2022-10-31-partnership-schedule-k-2-draft-instructions-issued

     

    This week we look at:

    • It’s PTIN renewal time again and the IRS has released a news release announcing the fact
  • IRS publishes draft 2022 Form 1065 Schedules K-2 and K-3 instructions with revised exceptions to filing Schedules K-2 and K-3
    • 47 min
  • Federal Tax Update: Two Sets of Inflation Adjusted Numbers Released by IRS

    https://vimeo.com/762960227

    https://www.currentfederaltaxdevelopments.com/podcasts/2022/10/22/2022-10-24-two-sets-of-inflation-adjusted-numbers-released-by-irs

     

    This week we look at:

    • IRS announces and appears to roll out pilot program to block automated calling systems
  • 2023 inflation adjusted general tax amounts released by the IRS
  • Retirement/IRA limitations released for 2023
    • 25 min
  • Federal Tax Update: Beneficial Owner Reporting Requirement Coming in 2024

    https://vimeo.com/user37230624/download/756202736/db2b6f24e1

    https://www.currentfederaltaxdevelopments.com/podcasts/2022/10/2/2022-10-03-beneficial-owner-reporting-requirement-coming-in-2024

     

    This week we look at:

    • FinCEN releases final regulations that will require beneficial owner reporting for small LLCs and corporations
  • IRS updates FAQ for state and local fiscal recovery funds used for home purchases
  • Hurricane Ian relief announced by Treasury, delays most filings to February 15, 2022
    • 31 min
  • Federal Tax Update: IRS News Releases Emphasizing Recent Guidance

    https://vimeo.com/753399228

    https://www.currentfederaltaxdevelopments.com/podcasts/2022/9/24/2022-09-26-irs-news-releases-emphasizing-recent-guidance

     

    This week we look at:

    • IRS issues reminder on penalty relief deadline that makes some modifications
  • IRS publishes another news release pushing the CCA on improper PPP loan forgiveness
    • 29 min
  • Federal Tax Update: New PPP Loan Tax Guidance Appears

    https://vimeo.com/750995661

    https://www.currentfederaltaxdevelopments.com/podcasts/2022/9/18/2022-09-18-new-ppp-loan-tax-guidance-appears

     

    This week we look at:

    • IRS memorandum states that PPP loan forgiveness is taxable if taxpayer did not actually qualify for forgiveness granted
  • AICPA adds to items requested for additional penalty relief under Notice 2022-36
    • 38 min
  • Federal Tax Update: Proposed EARN Act

    https://vimeo.com/748560413

    https://www.currentfederaltaxdevelopments.com/podcasts/2022/9/11/2022-09-11-proposed-earn-act

     

    This week we look at:

    • Chair and Ranking Member of the Senate Finance Committee send Enhancing American Retirement Now (EARN) Act to the Senate floor
  • IRS inadvertently makes Form 990-T data on non-§501(c)(3) organizations available for bulk download
  • Reasonable cause for failure to file/pay does not include common financial challenges
    • 37 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…