FICPA Podcasts

https://player.vimeo.com/video/277796505https://www.currentfederaltaxdevelopments.com/podcasts/2018/6/30/2018-07-02-postcard-week

IRS releases a new “postcard” dratt for Form 1040 along with 6 schedules CPA who advised on ESOP and prepared 5500s was still found to be an independent appraiser on third time to court IRS publishes the list of qualified opportunity zones under TCJA’s Section 1400Z-1 A amendment of a return with fraudulent positions does not reduce the fraud penalty Taxpayer discovers IRS had not agreed to waive all penalties when taxpayer agreed to exam changes 2018-07-02 Postcard Week from Loscalzo

https://player.vimeo.com/video/269381991This Week's Topics

Taxpayer had to include son’s savings account in determination of solvency 2019 HRA amounts announced by the IRS IRS changes Section 382 recognized built-in gain/loss safe harbors due to changes made by TCJA Revenue procedure issued to deal with requests to change accounting methods due to ASC 606 adoption for financial statements General automatic method change revenue procedure annual update published by IRS Taxpayer found to have no asset to sell and, due to that, income was ordinary and not capital in nature

https://player.vimeo.com/video/268178329This Week's Topics

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

https://player.vimeo.com/video/246600742This Week's Topics

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

https://www.youtube.com/embed/s-2gpp3b3BcThis Week's Topics

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

https://player.vimeo.com/video/244456961This Week's Topics

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

https://player.vimeo.com/video/243463860This Week's Topics

Update on the tax reform bill

https://player.vimeo.com/video/242386558This Week's Topics

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

https://player.vimeo.com/video/241441751This Week's Topics

Provisions in the Tax Cuts and Jobs Act

https://player.vimeo.com/video/240300175This Week's Topics

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