FICPA Podcasts

FICPA Podcasts

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FICPA Podcasts episodes

  • Federal Tax Update: But I Promise, Really

    https://vimeo.com/358512498

    https://www.currentfederaltaxdevelopments.com/podcasts/2019/9/7/2019-09-09-but-i-promise-really

     

    This week we look at:

    •IRS release instructions to 2019 §199A simple deduction form with additional informal guidance
    •Memorandum discusses what does and does not qualify as having made a payment to a retirement plan
    •Relief granted to file the second copy of the Form 3115 late for an automatic method change, but at a cost
    •Activities failed to count as rentals, could not be combined into rental activity by real estate professional
    •A flawed S election uncovered during due diligence for sale of the corporation
    39 min
  • Federal Tax Update: No Horse, No Business

    https://vimeo.com/357081100

    https://www.currentfederaltaxdevelopments.com/podcasts/2019/8/31/dskr2u0nswq526yq8hbhxjq89mhmbg

     

    Issues for this week:
     
    • Tax Court finds that taxpayer did not have a trade or business of raising/showing horses since she didn’t have a horse
  • Tax Court rejects IRS’s “step in the shoes” theory for gifted partnership interest with interest from debt-financed distribution received by donor
  • IRS accepts court’s revision of IRA beneficiary, surviving spouse allowed to treat IRA as her own
  • Coffeehouse was not a §501(c)(3) charitable organization
  • Notice of deficiency sent to addresses used on returns found to be sent to last known address

    •  

    37 min
  • Federal Tax Update: Watching Paint Dry Doesn't Count

    https://vimeo.com/355762879

    https://www.currentfederaltaxdevelopments.com/podcasts/2019/8/24/2019-08-24-watching-paint-dry-doesnt-count

     

    This week we look at:

    • Taxpayer found both to have chosen the accrual method and to be required to use it as well
  • §451 proposed regulations exit OIRA review
  • Taxpayers records found to overstate hours by 150 hours, not qualified as a real estate professional
  • IRS issues formal memo changing position on ability to claim foreign tax credit on certain French taxes
    • 39 min
  • Federal Tax Update: George M Would Be Proud

    https://vimeo.com/354401706

    https://www.currentfederaltaxdevelopments.com/podcasts/2019/8/17/2019-08-19-george-m-would-be-proud

    This week we look at:

    Taxpayer “wins” on a Cohan style case, but things don’t really go well

  • Qualified plan distribution is part of taxable income for the taxpayer even if the taxpayer doesn’t cash the check

  • An estate cannot avail itself of the economic disability tolling of the statute of limitations (and it wouldn’t have mattered anyway).

  • IRS to send out estimated tax penalty refund checks to 400,000 taxpayers

    36 min
  • How to Bill a Million Dollars Using Technology
    Jody Padar, The Radical CPA - CEO & Principal of New Vision CPA Group, shares with Mia Thomas, CPA, CGAM - FICPA Director of Learning Curriculum Development, a business model to wake up and use technology. Jody will be a keynote speaker at the FICPA Accounting Show in September 2019.
    10 min
  • Federal Tax Update: Toto Needs Sales Tax Money
    https://vimeo.com/353111642
    https://www.currentfederaltaxdevelopments.com/podcasts/2019/8/10/2019-08-12-toto-needs-sales-tax-money
    This week we look at:
    ●Kansas releases out of state seller rules that have no de minimis levels
    ●Memorandum holds that partial denial of earned income tax credit can lead to loss of all credit for following two years
    ●Tennessee court finds that Boyle rule still applies, taxpayer cannot rely on preparer to efile extension
    ●New online tax withholding estimator released by IRS, second revised Form W-4 follows shortly after
    ●Revised third-party contact rules released prior to Taxpayer First Rule change that takes effect August 15, 2019
    32 min
  • Problem Solving - What Kind of Issue is it?
    Join the conversation with Steven Morrison, CPA - Partner in National Assurance Audit Quality Group at CohnReznick and Mia Thomas, CPA, CGMA - Director of Learning, Curriculum Development at FICPA discuss Problem Solving. What kind of issue is it? Accounting or assurance.
    10 min
  • Federal Tax Update: About That Bitcoin
    This week we look at:
    IRS sends out 10,000 letters on cryptocurrency, including some demanding a response
    Relief granted on three bonus depreciation elections for year that includes September 28, 2017
    Draft Schedule K-1 for Form 1120S revised to change §199A information reporting
    Letter ruling holds a partial deduction allowed for DNA tests requested by an individual
    Organization not operated exclusively for charitable purpose, §501(c)(3) status revoked retroactively
    https://vimeo.com/351705614
    https://www.currentfederaltaxdevelopments.com/podcasts/2019/8/2/2019-08-05-about-that-bitcoin
    39 min
  • Federal Tax Update: 1982 Tax Form Nostalgia Week
    https://vimeo.com/350405287
    https://www.currentfederaltaxdevelopments.com/podcasts/2019/7/26/2019-07-29-1982-tax-form-nostalgia-week
    Current Federal Tax Developments for the week of July 29, 2019: 1982 Tax Form Nostalgia
    IRS releases final regulations on §501(c)(4) notice
    Taxpayers who paid certain French taxes may have refund opportunities
    Six new compliance initiatives announced by IRS
    Minor relief granted to file superseding returns to some CPAR covered partnerships
    IRS releases a new draft version of Form 1099-NEC for the first time in 38 years
    38 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…