FICPA Podcasts

https://vimeo.com/640977247

https://www.currentfederaltaxdevelopments.com/podcasts/2021/10/31/2021-11-01-build-back-better-act-draft-tax-provisions

 

This week we look at

The Build Back Better Act draft’s tax provisions (some)

What’s not in the bill

Individual provisions

Corporate provisions

https://vimeo.com/638335951

https://www.currentfederaltaxdevelopments.com/podcasts/2021/10/24/2021-10-25-s-corporation-basis-reporting-on-form-1040

 

This week we look at:

More talking but no action in DC on pending legislation

Rehiring retired employees discussed in IRS FAQ

Appeals panel agrees that claim of right doctrine did not apply to grantor trust stock sale

IRS issues formal draft of S corporation basis reporting form

https://vimeo.com/634514024

https://www.currentfederaltaxdevelopments.com/podcasts/2021/10/17/2021-10-18-can-taxpayers-rely-on-irs-faqs

 

This week we look at:

Two weeks later, Congress is still working on the infrastructure and reconciliation bills

IRS outlines information requirements for §41 refund claims

Taxpayer is not getting impermissible double benefit for paying alimony with pre-tax funds

COBRA extension dates clarified by IRS

IRS publishes documents regarding reliance on FAQs

https://vimeo.com/620804972

https://www.currentfederaltaxdevelopments.com/podcasts/2021/10/3/2021-10-04-hobby-loss-deduction-problem

 

This week we look at:

Congress is still working on the infrastructure and reconciliation bills

We get the Tax Court on record for the proper treatment of hobby loss deductions-that is, where they are reported

IRS to begin charging a fee on October 28 to issue closing letters to estates

https://vimeo.com/615401875

https://www.currentfederaltaxdevelopments.com/podcasts/2021/9/26/2021-09-27-issues-with-buy-sell-arrangement

 

This week we look at:

Taxpayer has issues with auto expenses, retirement plan contributions and demolition expenses in Tax Court

Buy-sell agreement that wasn’t followed and was a found as a way to transfer business to brother as a way to escape transfer tax not followed by District Court

https://vimeo.com/609111841

https://www.currentfederaltaxdevelopments.com/podcasts/2021/9/19/2021-09-20-reasonable-cause-to-avoid-negligence

 

This week we look at:

Ways and Means Committee finishes markup of proposed new tax bill.

Language of legal settlement made all of the settlement amount taxable to taxpayer regardless of the fact that payor likely had other reasons to settle

Taxpayer had reasonable basis to rely upon prior case settlement even though Court found opposite results this time

https://vimeo.com/603411560

https://www.currentfederaltaxdevelopments.com/podcasts/2021/9/12/2021-09-13-is-an-amended-return-required

 

This we we look at:

High low per diem and related guidance for FY 2021/2022 released

Rules for reporting COVID-19 credit related leave on Forms W-2 for 2021

Is the client required to amend a return?  And, if so, when?

https://vimeo.com/598454659

https://www.currentfederaltaxdevelopments.com/podcasts/2021/9/6/2021-09-05-e-signature-for-some-paper-forms-made-permanent

 

This weeks we look at:

IRS makes permanent its limited e-signature program initiated last year

Unambiguous plain text in the IRC vs. Congressional intent:  how that impacts tax research and professional responsibilities

https://vimeo.com/594311172

https://www.currentfederaltaxdevelopments.com/podcasts/2021/8/29/2021-08-30-looking-for-a-business-is-not-a-business

 

This week we look at:

Looking for a trade or business is not itself a trade or business.

IRS describes a harsh result for taxpayers that make a late deposit of deferred CARES Act FICA

https://vimeo.com/590769484

https://www.currentfederaltaxdevelopments.com/podcasts/2021/8/22/2021-08-23-looking-at-state-level-passthrough-entity-taxes

 

This week we look at:

A look at §1244 stock - an issue not often seen and on which a taxpayer lost this week

Comprehensive look at the design of SALT entity level workarounds that more and more states are enacting-what are they, why do we see them passing with bipartisan support and what issues do they create?