Current Federal Tax Developments podcast

#CPA #Accounting #Kaplan Professional Education #Edward Zollars #Taxation #Business #Tax

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“That's taxpayer’s money that is going to support research and development and pilot projects to develop a food system that is based on environmental destruction and greed and disregard for animals, fish, and any of the other marine mammals that might be around it.” - Andrianna Natsoulas Andrianna Natsoulas is the campaign director for Don't Cage Our Oceans, an organization that exists to keep our oceans free from industrial fish farms. Offshore finfish farming is the mass cultivation of finfish in marine waters, in underwater or floating net pens, pods, and cages. Offshore finfish farms are factory farms that harm public health, the environment, and local communities and economies that rely on the ocean and its resources. Don’t Cage Our Oceans are a coalition of diverse organizations working together to stop the development of offshore finfish farming in the United States through federal law, policies, and coalition building. And, although it is not yet happening, right now the US Administration and Congress are promoting this kind of farming, which would be nothing short of disastrous for the oceans, the planet and the people and animals who live here. dontcageouroceans.org…

Current Federal Tax Developments

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Weekly update on federal income tax developments

124 episoade

Current Federal Tax Developments

75 subscribers

updated acum 7 zile

Distribuie

Pagina seriei•Feed

Weekly update on federal income tax developments

124 episoade

#CPA #Accounting #Kaplan Professional Education #Edward Zollars #Taxation #Business #Tax

Tous les épisodes

1
2025-02-24 BOI Developments Week

acum 7 zile

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This week we look at: Second Circuit Rules on Section 179D Deductions and Accounting Method Change IRS Guidance on ACA Notice Posting Court Case on CPA Negligence and Trust Return Penalties BOI Reporting Requirement Updates An audio only version of this week’s broadcast can be downloaded below: The articles and citations for this week’s broadcast can be downloaded as a PDF from the link below: 2025-02-25 Current Federal Tax Developments…

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2025-02-17 A Week of Lost Losses

acum 13 zile

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This week we look at: Deductibility of Losses: Weston v. Commissioner Conservation Easements: Green Valley Investors LLC Automobile Depreciation and Lease Inclusion S Corporation Inadvertent Termination Relief Corporate Transparency Act (CTA) - Government Briefs House Ways & Means Committee Tax Bills An audio only version of this week’s broadcast can be streamed or downloaded below; The articles for this week’s update can be downloaded below: 2025-02-16 Current Federal Tax Developments…

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2025-02-10 New Administration Pushes Foward with the CTA

acum 21 zile

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This week we look at: IRS issues letter ruling on IRA left to trust A taxpayer mistakenly believes the IRS had conceded that his income was not subject to self-employment tax, but it hadn’t The Tax Court denies a taxpayer’s deductions and claimed partnership losses due to incredibly disorganized and inadequate records Taxpayer runs afoul of the “pay first, litigate later” rule when attempting to sue the IRS for a refund in US District Court in response to an assessment A taxpayer’s unprocessed claim for an ERTC refund doesn’t justify CDP relief The BOI - new Administration continues litigation and proposes a new due date, potential filing relief An audio only version of this week's broadcast can be downloaded or streamed from the link below. Article for this week’s developments are available as a PDF from the link below. 2025-02-10 Currrent Federal Tax Developments…

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2025-02-03 A Week of Tax Court Rulings

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This week we look at: Tax Court Finds Property Donated to Charity Had a Value Less than One-Third of What Taxpayers Claimed on Return IRS Finds Most Expenses Related to Taxpayers’ In Vitro Fertilization and Surrogacy Will Not Be Deductible Medical Expenses Under IRC §213 Taxpayer Denied Innocent Spouse Relief in Tax Court Bench Opinion Tax Court Finds No Issue With the Appeals Office Structure and Staffing Failure to Provide Proof of Filing of Returns Fatal to Taxpayer’s Attempt at Obtaining Relief in CDP Hearing Despite IRS Procedural Errors An audio only version of this week’s broadcast can be streamed or downloaded below. Articles for this week’s update can be downloaded as a PDF below: 2025-02-03 Current Federal Tax Developments…

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2025-01-27 BOI Sees Supreme Court Action But There a Catch

acum 5 weeks

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This week we look at: Funds Taken By Sheriff Were a Valid Loan and Not Income from Embezzlement Tax Court Allows a Reduced Deduction for a Conservation Easement CCA Discusses Issues with Activities of a Private Foundation with Regard to Self-Dealing, Attempted Correction and Jeopardizing Investments IRS Email Discusses Agency’s (Lack of) Obligation to Process Amended Tax Returns Supreme Court Reverses Fifth Circuit Merits Panel, Again Removes Emergency Injunction Against Enforcement of the CTA BOI Reports Despite Supreme Court’s Action on Texas Top Cop Shop, Inc. Ban on Enforcement of BOI Reporting, FinCEN Notes Ban on Enforcement Under the Smith Case is Still in Effect An audio only brodcast of this week’s update can be downloaded or streamed below: A PDF with stories on this week’s developments can be downloaded below: 2025-01-27 Current Federal Tax Developments…

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2025-01-20 SECURE 2.0 Act Proposed Guidance

acum 6 weeks

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This week we look at: IRS updates residential energy credit Fact Sheet, adds details about the PIN requirements that take effect for 2025 property Proposed regulations on catch-up contributions added by the SECURE 2.0 Act Proposed regulations on the automatic enrollment provisions of IRC §414A US Supreme Court agrees to review a Third Circuit ruling on Tax Court jurisdiction in a Collection Due Process case IRS issues final regulations on resolution of tax controversies by the IRS Independent Office of Appeals Under TFA of 2019 An audio only verison of this week’s broadcast can be streamed or downloaded below: Articles on this week’s developments are contained in the PDF that can be downloaded below. 2025-01-20 Current Federal Tax Developments…

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2025-01-13 Tax Filing and Payment Relief for California Wildfires and More

acum 7 weeks

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This week we look at: IRS Grants Tax Relief to California Wildfire Victims National Taxpayer Advocate’s Report to Congress and Legislative Recommendations Released Third US District Court Issues BOI Reporting Injunction Tax Court Finds a Building Was Not a Certified Historic Structure as Defined by §170(h) Taxpayer Denied Refund as Court Found the Taxpayer Had Taken the Position That Its Reporting Was an Error Rather Than a Method of Accounting Seventh Circuit Upholds Imposition of Fraud Penalty for an Overstatement of Withholdings Court Finds Taxpayer Submitted Digitally Altered False Documents, Sustained the Fraud Penalty the IRS Proposed IRS Updates Guidance on Section 530 Employment Tax Liability Relief An audio only version of this week’s broadcast can be downloaded or streamed below: Articles on the developments for this week’s broadcast can be downloaeded below: 2025-01-13 Current Federal Tax Developments…

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2025-01-06 Digital Assets, BOI, Conservation Easements and Embezzlement

acum 8 weeks

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This week we look at: IRS gives relief for specific identification of digital asset basis for certain taxpayers for 2025 only Department of Justice asks the U.S. Supreme Court to Stay the Latest Corporate Transparency Act Injunction IRS no longer to dispute requirement to comply with APA to add listed transactions after the enactment AJCA in 2024 Tax Court rules that merely being in a registered historic area does not make a building a certified historic structure Tax Court finds taxpayer owes tax on over $5.3 million diverted from two retirement plans An audio only version of this week’s broadcast can be streamed or downloaded below. A PDF of the slides and links to articles regarding the developments can be downloaded below. 2025-01-05 Current Federal Tax Developments…

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2024-12-30 BOI Developments - The Gift That Keeps on Giving

acum 9 weeks

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This week we look at: Tomato processing plant reconditioning to put plant back into shape before beginning next harvest-season production failed all events test at end of the prior season Tax Court again imposes functional test in case with state law limited partners The BOI reports have a week of dueling court rulings - from the same court An audio only version of this week’s broadcast can be streamed or downloaded below. A PDF with the slides and citations for this week can be downloaded below: 2024-12-30 Current Federal Tax Developments…

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2024-12-23 IRS Proposes Significant Revisions to Circular 230

acum 10 weeks

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This week we look at: Automatic accounting method changes related to §174 extended to years beginning in 2024 BOI report - hectic week, but ultimately no resolution yet for initial report due date 2025 mileage rates published by the IRS IRS finalizes regulations on supervisory approval of penalties IRS proposes revisions to Circular 230 An audio only version of this week’s broadcast can be streamed or downloaded below: A PDF with the slides and citations can be downloaded viaa the link below: 2024-12-23 Current Federal Tax Developments…

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2024-12-16 IRS Expands Business Tax Accounts Features and Access

acum 11 weeks

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This week we look at: President signs the two tax bills Congress recently passed DOJ asks for stay of injunction issued by US District Court in Texas on enforcement of the CTA IRS expands Business Tax Account access and services that can be accessed via that account A PDF of this week’s slides and links to the cited documents can be downloaded below. 2024-12-16 Current Federal Tax Developments…

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2024-12-09 Nationwide Injunction on BOI Reporting

acum 12 weeks

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This week we look at: Congress enacts two tax laws: but neither is the big one that passed the House in January but stalled in the US Senate A Texas US District Court has issued a nationwide temporary injunction barring FinCEN from enforcing the BOI reporting regime DOJ files a notice of Appeal of the Texas Top Cop Shop Inc decision and FinCEN posts information regarding the impact of the case on BOI reports An audio only version of this week’s broadcast can be streamed or downloaded below: A PDF with a copy of this week’s slides with citations can be downloaded below: 2024-12-09 Current Federal Tax Developments…

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2024-12-02 New Form for 83(b) Elections

acum 13 weeks

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This week we look at: IRS releases optional form taxpayer can use to make an IRC §83(b) election IRS extends for one year more a transitional 45-day period to perfect research credit claims found to be invalid claims IRS provides additional relief on the issuance of Forms 1099-K An audio only version of this week’s broadcast can be streamed or downloaded below: A PDF with slides and the citations for this week’s broadcast can be downloaded below. 2024-12-02 Current Federal Tax Developments…

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2024-11-25 IP-PINs, Divorced Parents and Children

acum 14 weeks

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This week we look at: IRS announces program using IP-PIN to allow taxpayers who find a dependent on their return has already been listed on another to get their return processed immediately The ERC Second Voluntary Disclosure Program ends but the IRS gives some additional relief for withdrawing a claim filed via third-party payer such as a payroll service An audio only version of this week’s broadcast can be streamed or downloaded below. A PDF with this week’s slides and citations can be downloaded below. 2024-11-25 Current Federal Tax Developments…

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2024-11-18 End of Partnership Suspense Account at the IRS

acum 15 weeks