FICPA Podcasts

FICPA Podcasts

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FICPA Podcasts episodes

  • Federal Tax Update: IRS Quietly Revises Unemployment Worksheet
    https://vimeo.com/529815362
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/3/27/2021-03-29-irs-quietly-revises-unemployment-worksheet
     
    This week we look at:
    IRS makes a major change in computation of excludable ARPA unemployment
    PPP loan program applications extended for two months - but funds only likely to last until mid-April without replenishment
    PPE is defined by the IRS to represent medical care for purposes of deducting the expenses
    32 min
  • Federal Tax Update: Tax Season for 1040s Only Goes On One More Month
    https://vimeo.com/526919895
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/3/21/2021-03-21-tax-season-for-1040s-only-goes-on-one-more-month
     
    This week we look at:
    IRS releases instructions on reporting ARPA unemployment exclusion
    AICPA recommends IRS issue clarification on PPP forgiveness/passthrough issues
    IRS pushes back the filing date for Forms 1040 only - everything else still due on April 15, including Q1 2021 estimates
    48 min
  • Federal Tax Update: American Rescue Plan Act of 2021
    https://vimeo.com/523523436
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/3/14/2021-03-15-american-rescue-plan-act-of-2021
     
    A look at the American Rescue Plan Act of 2021
    Unemployment exclusion for 2020
    Recovery Rebate for 2021
    Prepaid Child Tax Credit for 2021
    Earned Income Tax Credit Changes
    Refundable Dependent Care Assistance
    Sick/Family Leave Credits
    2021 Employee Retention Credit
    Premium Tax Credit Revisions
    46 min
  • Federal Tax Update: Employee Retention Credit and PPP Forgiveness
    https://vimeo.com/520460414
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/3/7/2021-03-08-employee-retention-credit-and-ppp-forgiveness
     
    This week we look at:
    SBA gets PPP loan program change guidance published
    Senate revises proposed COVID-19 relief bill, adds partial exclusion for unemployment compensation
    IRS continues to “clarify” the virtual currency question on Form 1040
    Guidance issued on interaction of PPP forgiveness and 2020 employee retention credit
    47 min
  • Federal Tax Update: Will We See A New Tax Bill
    https://vimeo.com/517633777
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/2/27/2021-03-01-will-we-see-a-new-tax-bill
     
    This week we look at:
    Late revisions to PPP loan program
    House passes new COVID-19 relief bill, moves on to Senate
    Taxpayer gets out of tax on $300,000 of credit card rewards
    Texas taxpayers get extension to June 15
    48 min
  • Federal Tax Update: Should April 15 Be Pushed Back Again?
    https://vimeo.com/514777746
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/2/20/2021-02-22-should-april-15-be-pushed-back-again
     
    This week we look at:
    A §280E case with potential impact outside of the cannabis industry
    Legal malpractice settlement could not be treated as excludable physical injury award
    IRS admits to an issue with 260,000 notices
    Calls come to extend the April 15 deadline again this year
    42 min
  • Federal Tax Update: Substance Over Form for Taxpayers
    https://vimeo.com/512283981
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/2/14/2021-02-15-substance-over-form-for-taxpayers
     
    This week we look at:
    Taxpayer finds no relief from FBAR penalties
    Tax Court outlines when it will allow a taxpayer to argue substance over form
    IRS warns about a phishing scam aimed at tax professionals
    36 min
  • Federal Tax Update: Virtual Currency Confusion
    https://vimeo.com/509298278
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/2/6/2021-02-08-virtual-currency-confusion
     
    This week we look at:
    Form 1040 final instructions add to virtual currency confusion
    Teachers COVID-19 supply safe harbor released
    No relief for employee with unused FSA dependent care funds
    Form 1099 relief for CARES items not treated as taxable
    31 min
  • Federal Tax Update: Upload Your POAs
    https://vimeo.com/506526731
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/1/30/2021-02-01-upload-your-poas
     
    This week we look at
    IRS recommendations to those victimized by unemployment ID theft
    Revised Form 7200 gives information on advance ERC payment Interim
    IRS online system to submit Forms 2848 and 8821
    AICPA letter on ERC and PPP forgiveness applications
    34 min
  • Federal Tax Update: PPP and ERC Clarification For CAA Changes
    https://vimeo.com/504085558
    https://www.currentfederaltaxdevelopments.com/podcasts/2021/1/24/2021-01-25-ppp-and-erc-clarifications-for-caa-changes
     
    This week we look at:
    Penalty relief related to partners’ tax basis capital
    IRS provides limited option for ERC claims on 4th quarter 941
    Revised PPP First Draw Maximum Loan Calculation
    PPP Borrowers Who Received Too Much Have to Pay Excess Back
    Second disbursement for PPP First Draw Loan procedures
    Gross Receipts Calculation for Second Draw Loans
    PPP Revised Forgiveness Forms Released
    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…