FICPA Podcasts

Justin Thames, Director of Governmental Affairs at the FICPA and Jennifer Green, President of Liberty Partners of Tallahassee, LLC discuss 2019 legislative issues that stood out this session. Discussed are industrial hemp and the Board of Accountancy guidance in the area of medical marijuana, budget funding - Clay Ford Scholarship and unlicensed activity fund, texting ban, importation of Canadian drugs, tax and hurricane relief, state tax issues - Wayfair Bill clarity on remote sales tax, HB 977 and companion bill SB 1252 changes from 20 hours of A&A CPE to 8 hours, caps to inactive, and SSA standards. Hear about Financial literacy legislation, blockchain Task Force, Local Government transparency and accountability and auditor selection procedures.

James Sutton, Attorney and CPA with Moffa, Sutton & Donnini talks about Florida Sales and Use Tax issues with Mia A. Thomas, CPA, CGMA Director of Learning - Curriculum Development with the FICPA. What general types of items and services are taxable in Florida? When do you need to start collecting and filing sales and use tax returns. Hear James share about the transfer of sales tax liability and how you can avoid criminal and civil sales tax fraud. What major industries does the Florida Department of Revenue potentially look and why.

https://vimeo.com/342468445

https://www.currentfederaltaxdevelopments.com/podcasts/2019/6/15/2019-06-17-bring-on-the-new-hras

Current Federal Tax Developments for the week of June 17, 2019: Bring on the New HRAs

IRS to stop faxing transcripts, only mail them to taxpayer’s address of record

Final regulations issued for state tax credit donations and new way to report credit as tax paid

IRS finalizes regulations creating two new HRAs

Gary Fracassi, 2018 - 2019 FICPA Chair of the Board discusses with Mia Thomas, FICPA Director of Learning the future of the accounting profession. The notion of disruption to unlearn what we know already, learn new skills, re-learn skills and put them to use.

https://vimeo.com/341108695

https://www.currentfederaltaxdevelopments.com/podcasts/2019/6/8/2019-06-10-being-yourself-as-a-business

This week we are looking at:

S corporation status lost when SMLLC shareholder adds a new interest holder

Tax Court does not accept author’s attempt to treat a portion of her income as not self-employment income

IRS releases employer tables and worksheets for TCJA-aware draft Form W-4

TIGTA finds that LB&I imposes accuracy-related penalties at lower rate than does SE/SE

Envelope used to file Tax Court petition lacked postmark, taxpayer could not explain delivery much later than would be expected for timely mailed document

Chuck Bauer, sales and business consultant and trainer, talks about working smarter and time management strategies with Mia Thomas, FICPA Director of Learning - Curriculum Development. Don't Overthink the Think - overdo the Do and other prioritization strategies are shared. Learn how you can transform you and your organization.

https://vimeo.com/339738434

https://www.currentfederaltaxdevelopments.com/podcasts/2019/6/1/2019-06-03-sweating-the-details-or-lose-out

This week we look at:

Evangelizing did not give rise to charitable deduction for most expenses

DC Circuit agrees with Tax Court that failure to disclose basis of asset doomed $33 million contribution

Taxpayers lose nearly $1 million of basis due to lack of old documents

IRS tries one more time to develop a W-4 for the TCJA era

https://vimeo.com/338599794

https://www.currentfederaltaxdevelopments.com/podcasts/2019/5/26/2019-05-28-another-new-tax-bill

This week we look at:

Virtual currency guidance promised by IRS Commissioner

HSA numbers for 2020 released by IRS

Auto depreciation limits for 2019 released by IRS

House passes retirement reform bill, would drastically cut back on the use of stretch IRAs

Assistant US Attorney warns preparers about criminal exposure when they don’t raise enough issues about loan

https://vimeo.com/337037074

https://www.currentfederaltaxdevelopments.com/podcasts/2019/5/18/2019-05-20-schedule-d-problem

This week we look at

Review Wolters Kluwer IRS response and other issues

IRS releases a new worksheet for computing tax when there are 25% or 28% gains

Tax Court finds IRS did not have authority to find Medicare difficulty payments nontaxable in Notice 2014-7

CA10 agrees with Tax Court that S corporation cannot accrue wages on participants

Taxpayer materially participated in activity under facts and circumstances test

https://vimeo.com/335633734

https://www.currentfederaltaxdevelopments.com/podcasts/2019/5/11/2019-05-13-malware-cybersecurity-and-tax-practice

This week we look at:

Wolters Kluwer CCH systems suddenly taken offline due to malware issue

GAO criticizes security of e-file providers and software developers

IRS updates maximum vehicle values for cents-per-mile and FAVR

IRS clarifies redemptions treated as dividends taxation when paid during post-termination transition period

Deduction for Connecticut estate taxes must be reduced by portion allocable to state’s gift taxes added back paid in 3 prior years

My boss ordered me to do it doesn’t work for trust fund penalty even when the boss is an agent of a federal