FICPA Podcasts

FICPA Podcasts

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FICPA Podcasts episodes

  • Federal Tax Update: More Grief Over Timely Filing Rule
    https://vimeo.com/587461301
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/8/15/2021-08-16-more-grief-over-timely-filing-rule
     
    This week we look at:
    Safe harbor guidance for PPP forgiveness and certain grants for reduction in revenue test for ERC
    Auto depreciation limits announced for 2021
    Taxpayers barred from producing evidence letter with no postmark applied was placed in mail by due date by US Court of Claims, even though the Tax Court allows such evidence
    37 min
  • Federal Tax Update: We Were Right in April Unfortunately
    https://vimeo.com/584095252
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/8/7/2021-08-09-we-were-right-in-april-unfortunately
     
    This week we look at:
    This week we look at: IRS issues ERC guidance for 3rd/4th quarter and adds to other guidance - confirms issue for majority shareholders 
    IRS memorandum pushes IRS position regarding conservation easement extinguishment clauses
    Best-selling author loses her appeal of Tax Court decision regarding her attempt to split off most of her publishing contract income from self-employment tax
    1 hr 1 min
  • Federal Tax Update: PPP Loan Program Changes Return
    https://vimeo.com/581588137
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/7/31/2021-08-02-ppp-loan-program-changes-return
     
    This week we look at:
    What we know about tax matters in the bipartisan infrastructure bill
    SBA announces direct forgiveness application platform, more PPP changes
    Taxpayer allowed a deduction for expenses related to MBA program
    Paid leave credit expanded to cover more vaccine related issues
    BBA CPAR email notes issues with imputed adjustment calculation
    Second Circuit overturns foreign trust penalty decision in favor of IRS
    51 min
  • Federal Tax Update: Proposed S Corporation Form
    https://vimeo.com/578958243
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/7/24/2021-07-26-proposed-s-corporation-basis-forms
     
    This week we look at:
    Taxpayer fails in attempt to use Cohan rule to obtain deductions
    IRS proposes Form 7203 to use by shareholders to report basis in S corporation
    IRS can consider potential recovery against executor as part of offer in compromise
    IRS opens up site for full electronic submission and signing of Forms 2848 and 8821
    44 min
  • Federal Tax Update: Tax Practice Issues Week
    https://vimeo.com/576500931
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/7/18/2021-07-19-tax-practice-issues-week
     
    This week we look at:
    AICPA reports lenders told to stop pre-forgiveness necessity inquiries
    Digitally signed amended return rejected as not properly filed
    No reasonable cause for late filing when taxpayer depended on attorney who simply took tax money
    IRS position not substantially justified for basis challenge and overall accounting method
    53 min
  • Federal Tax Update: Information Letter Week
    https://vimeo.com/573643241
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/7/11/2021-07-12-information-letter-week
     
    This week we look at:
    TAS declines to accept stand-along advance child tax credit cases
    IRS agent’s tax home remained at his assigned office
    FSA participants required to document qualification of expenses paid with debit card
    IRS explanation of why Forms 1099R don’t identify QCDs
    IRS discusses legal expense deductions
    45 min
  • Federal Tax Update: Supreme Court Declines to Hear Dispute Over State Taxation of Nonresidents
    https://vimeo.com/571327493
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/7/5/2021-07-05-supreme-court-declines-to-hear-dispute-over-state-taxation-of-nonresidents
     
    This week we look at:
    IRS extends special treatment of  employee leave donation for COVID-19 relief
    Guidance published on making farm NOL elections
    Penalty relief for issues with 2021 Forms K-2 and K-3
    Supreme Court turns down hearing dispute over taxing out of state employees
    44 min
  • Federal Tax Update: Is the PPP Questionnaire Going Away
    https://vimeo.com/568539164
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/6/28/2021-06-28-is-the-ppp-questionnaire-going-away
     
    This week we look at:
    SBA reported to be withdrawing PPP loan questionnaires
    Court finds not clear if taxpayer qualifies for home gain exclusion due to unforeseen circumstances
    IRS extends special remote witnessing of signing plan documents through June 30, 2022, may make it permanent
    CPA’s conviction for assisting in the filing of false returns upheld - rejected "I just used what the client gave me" defense
    41 min
  • Federal Tax Update: ACA Survives Another Trip to SCOTUS
    https://vimeo.com/565370435
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/6/20/2021-06-21-aca-survives-another-trip-to-scotus
     
    This week we look at:
    Supreme Court finds no status for challenging ACA due to TCJA changes
    IRS backlog was huge at May 1 which causes two pieces of guidance to be issued:Do not file Form 990-EZ on paper (unless you want problems)
    Offer in compromise program changes put in place due to backlog
    42 min
  • Federal Tax Update: Tax Status of Legal Settlement
    https://vimeo.com/562549136
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/6/13/2021-06-14-tax-status-of-legal-settlement
     
    This week we look at:
    IRS publishes Q & A on 2021’s enhanced child and dependent care credit on website
    Malpractice settlement related to taxpayer’s divorce was taxable to her - and situation made worse to going to Tax Court
    IRS discusses interaction of depreciation related §481(a) adjustments and computation of ATI through 2021
    42 min

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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…