Federal Tax Update Podcast

With E. Lynn Nichols, CPA

This week's podcast includes:

  • Individual Must Recognize Previously Excluded Gain on Property
  • IRS Guidance Expected on Dual Partner/Employee Status
  • Suspended Passive Losses Not Deductible – No Disposition
  • Retirement Plan Penalty Relief Program Begins in June
  • IRS Denied Summary Judgment in Estate Tax Deficiency Case
  • LLC Owner at Risk for Loan; Aircraft Leasing Wasn't Passive
  • IRS Releases Draft Form 990-EZ for 2014
  • Ranch Not Required to Use Accrual Method

 

Direct download: SS_AUDIO_05_27_2014.mp3
Category:Federal Tax Update -- posted at: 3:43pm EDT

Federal Tax Update Podcast
With E. Lynn Nichols, CPA

This week's podcast includes:

  • Tax Consequences of Proposed Trust Division
  • No Gain or Loss Recognized on Transaction
  • IRS Entitled to Reconstruct Business Income, Impose Penalties
  • Gain From Sale of Property Is Ordinary Income; Penalty Imposed
  • Individual Denied Joint Filing Status, Exemptions, and Credits
  • Couple Denied Deductions for Easement Donations; Penalties Apply
  • Individual Had Wage Income Not Business Income; Deductions Denied
  • IRS Issues SB/SE Guidance on Collecting Civil Penalties
Direct download: SS_AUDIO_05_19_2014.mp3
Category:Federal Tax Update -- posted at: 1:20pm EDT

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

This week's podcast includes:

  • Rehabilitation of Contiguous Properties Is Single Project
  • Who is Eligible Tax Matters Partner?
  • Consultant Received Guaranteed Payments as Partner
  • Partnership Overvalued Conservation Easement, But Not By Much!
  • Vehicle Expense Deduction Denied Due to Poor Records
  • Unsubstantiated Deductions Denied; Accuracy Penalties Upheld
  • Final Regs Address Estate, Trust Costs Subject to 2 Percent Floor
  • Arrangement to Fund Benefits Through Subsidiary Is Insurance
  • Tax Court Finds Couple's Home Improvement Wasn't a Business
Direct download: Federal_Tax_Update_05_12_2014.mp3
Category:Federal Tax Update -- posted at: 12:36pm EDT

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

This week's podcast includes:

  • IRS Approves LLC's Alternative Basis Recovery Method
  • Plan Distribution Includable in Income; Penalty Upheld
  • Tax Court Grants Individual Innocent Spouse Relief
  • IRS Publication on 401(k) Plans for Small Businesses
  • Horse Activities Were for Profit for Some Years, Not Others
  • District Court Reverses Bankruptcy Court's Discharge of Taxes
  • More Than Expected Eligible for ACA Premium Assistance Credits
Direct download: Federal_Tax_Update_05_05_2014.mp3
Category:Federal Tax Update -- posted at: 2:32pm EDT

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