March 11, 2013

Nichols Patrick Weekly Tax Update 

With E. Lynn Nichols, CPA

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This week's podcast includes:

• 2nd Circuit Reverses Tax Court; Tax Assessments Are Timely
• E & Y Pays $123 Million to Settle Tax Shelter Investigation
• Proposed Regs on Health Insurance Provider Fee
• Recognized Built-In Loss Not Treated Separately in Annual Tax Calculation
• OREO Property Not Considered Acquired for Resale; Not Subject to 263A
• Couple Deceived by Construction Company May Claim Theft Loss Deduction
• Certification Period for Work Opportunity Credit Extended 
• Judicial Doctrines Should Not Prevent Deferred Gain Recognition
• Loan Proceeds Are Includable in Income When All Events Test Is Met
• Minimum Royalties Must Be Capitalized