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Oklahoma governor vetoes an expansion of tattletale law Small businesses warned about tax ID theft targeted at them Organization denied exempt status, was ruled to be the organizer’s consulting business IRS delays TCJA third party life insurance policy sale reporting rules/li> Taxpayer did not reasonably rely on advice in taking a tax position, penalties applied

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Conference committees appointed and Joint Committee on Taxation issues report on differences IRS memo clarifies the tax treatment of a disgorgement payment following U.S. Supreme Court decision Qualified plan required amendment (RA) list published for 2017 No loss allowed on sale to former spouse IRS found not to have conducted a second examination of the taxpayers’s books and records

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Senate passes their version of HR1, setting up moving to a conference committee IRS gets access to information from bitcoin exchange The Tax Court uses English law to determine if a payment was alimony for federal tax purposes A safe harbor casualty loss rule is adopted for damage to concrete foundations caused by pyrrohite A taxpayer is denied a deduction for legal fees to recover overpaid alimony More relief for partnerships due to change in filing dates for 2016 returns The Tax Court updates its views on how to evaulate Stamps.com postmarks under timely filing rules

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HR1 moves to the Senate floor this week Taxpayer does not have COD income when relieved of requirement to pay back overpayments on pension Qualified plan relief provisions extended to victims of California wildfires Court does not accept attempt to use FLP discount to create income tax loss from liquidation of S corporation formed to hold FLP interest No basis to shareholders in debt to S corporation other S corporation shareholders controlled IRS issues FAQ on QSEHRAs

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Update on the tax reform bill

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JCT Description of the Senate version of the Tax Reform and Jobs Act First Amendment - House Version Tax Reform and Jobs Act Second Amendment - House Version Tax Reform and Jobs Act

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Provisions in the Tax Cuts and Jobs Act

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House adopts Senate budget resolution beginning tax reform process A taxpayer’s amount of claimed theft loss found excessive by Tax Court An expert’s testimony did not substitute for records of cost of goods sold IRS summons to state agency found to be proper IRS memo discusses indirect loan issues for church 403(b) plan

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IRS releases inflation adjusted tax factors for 2018 LB&I Division issues guidance on unit of property and major component issues for the mining industry IRS announced retirement plan numbers for 2018 IRS announces nonacquiesence in S corporation/real estate professional decision Anti-Kerr regulations officially withdrawn by the IRS 2017 Returns without health care information will not be accepted for efiling A court decision that appears to arrive at approximately the right place, but for all the wrong reasons

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Filing date relief issued by IRS for victims of Northern California wildfires Challenge to minister’s housing allowance exclusion returns to court Tax Court will assert strict subordination requirement for mortgages on conservation easements outside First Circuit Signature no longer required for §754 election Retroactive loss of tax-exempt status going back a decade proves very costly in terms of interest on unpaid tax IRS email discusses potential impact on due date disaster relief and date for assessment of tax