FICPA Podcasts

https://vimeo.com/685218170

https://www.currentfederaltaxdevelopments.com/podcasts/2022/3/6/2022-03-07-farmer-and-fisherman-tax-software-relief

 

This week we look at:

IRS looks to increase EA user fees by over 100%

Justice Department files motion to have staking case dismissed as moot

IRS to grant relief to certain farmers and fisherman impacted by inability of some tax software to file Form 7203 by March 1

https://vimeo.com/682635542

https://www.currentfederaltaxdevelopments.com/podcasts/2022/2/27/2022-02-28-at-least-one-couple-were-not-tax-people

 

This week we look at:

Proposed regulations on required minimum distributions

AICPA and state societies letter on delay for K-2 and K-3 filings

Data entry error did not provide reasonable cause for tax understatement

https://vimeo.com/679703525

https://www.currentfederaltaxdevelopments.com/podcasts/2022/2/20/2022-02-21-irs-issues-additional-k-2-and-k-3-filing-relief-how-much-does-it-help

 

This week we look at:

 

This week we look at the IRS's newly issued 2021 Schedule K-2 and K-3 filing relief. How much does the option added in Question 15 of the newly released FAQ on K-2 and K-3 issues really help partnerships and S corporations? Who does and doesn't qualify for this relief? And what about 2022 and future years?

https://vimeo.com/676800178

https://www.currentfederaltaxdevelopments.com/podcasts/2022/2/13/2022-02-14-irs-suspends-issuing-more-notice-types

 

This week we look at:

IRS adds more information on research credit claims issues

LB&I announces new partner basis campaign

IRS expands list of notices being temporarily suspended

K-2 and K-3 filing issues being addressed by vendors, IRS defends process

https://vimeo.com/674141687

https://www.currentfederaltaxdevelopments.com/podcasts/2022/2/6/2022-02-07-taxpros-account-improvements-coming

 

This week we look at:

Continuing saga of the K-2 and K-3 filing issues, including an extreme delay in accepting them electronically.

Consider interim filing method to electronically file these returns

OPR Director announces that IRS plans to add features to TaxPro site by mid-summer, additional features added for following year.

OPR Director also notes that Treasury has finished reviewing the revisions to Circular 230

https://vimeo.com/671552738

https://www.currentfederaltaxdevelopments.com/podcasts/2022/1/29/2022-01-31-there-are-k-2s-and-k-3s-in-your-future

 

This week we look at:

IRS revises instructions for Schedule K-2 and K-3 and points taxpayers to fact more may need to file this than might have thought they would

IRS stops issuing one (and just one) automated notice, complains about issues blocking doing more

AICPA issues statement critical of IRS statement on giving relief, wants all Tax Professionals United for Taxpayer Relief Coalition recommendations adopted

https://vimeo.com/669115743

https://www.currentfederaltaxdevelopments.com/podcasts/2022/1/23/2022-01-24-forms-and-instructions-week

 

This week we look at

IRS issues updated substantially equal payment guidance

Final version of basis reporting form for S corporation shareholders issued by IRS

IRS clarifies how to report expenses used to obtain PPP forgiveness on Schedule M-2

IRS completes guidance on reporting options for timing of PPP loan forgiveness income recognition

https://vimeo.com/666503808

https://www.currentfederaltaxdevelopments.com/podcasts/2022/1/16/2022-01-17-irs-pressured-to-grant-broad-relief-for-automated-notice-issues

 

This week we look at:

Form 1024 joins Form 1023 in becoming online only filings

Pressure builds on the IRS to pause automated notices in light of inability to handle correspondence on notices already issued

IRS announces beginning of filing season along with other information for the season

https://vimeo.com/663800541

https://www.currentfederaltaxdevelopments.com/podcasts/2022/1/9/2022-01-10-expenses-used-for-ppp-forgiveness-and-s-corporations

 

This week we look at:

IRS publishes detail on changes for amended returns and research credits

Taxpayers do not have to pay in tax IRS undercomputed when adjusting for unemployment compensation

Expenses used for PPP loan forgiveness do not reduce AAA for S corporations per IRS instructions

Information letter addresses when industry accountant becomes a paid preparer

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

In our debut episode of FICPA CEO Conversations, our President & CEO Shelly Weir sits down with AICPA Chair William Pirolli.

 

https://www.ficpa.org/publication/ficpa-ceo-conversations-shelly-weir-and-aicpa-chair-william-pirolli