This week we look at the following items:

  • Wall Street Journal reports IRS will issue guidance allowing 50% deduction for business meals

  • IRS issues guidance on credit for paying employees on FMLA leave

  • Moving expenses incurred in 2017 but reimbursed in 2018 ruled to be excludable from the employee’s income

  • Special per diem rules, including high/low amounts, updated by the IRS

  • IRS agent found to qualify as an innocent spouse when given what turned out to be a misleading response by soon to be ex-spouse

Copyright 2018, Kaplan, Inc.

Direct download: 2018-10-01_Employee_Benefits_Week.mp3
Category:general -- posted at: 9:12am EST

This week we look at the following items:

  • Tax Court allows a taxpayer to try and prove reasonable reliance on indirect legal advice

  • Updated safe harbor explanations for plan distributions issued by IRS

  • IRS delays major revision to Form W-4 to 2020

  • Relief announced for victims of Hurricane Florence

Copyright 2018, Kaplan, Inc.

Direct download: 2018-09-24_Is_This_Reasonable.mp3
Category:general -- posted at: 9:58pm EST

This week we look at the following items:

  • South Dakota enacts remote seller law to implement Wayfair decision beginning November 30

  • Colorado tests the limits of Justice Kennedy’s holdings in Wayfair

  • Even though records were imperfect, Tax Court finds the taxpayer was a real estate professional

  • Opportunity Zone regulations at OMB, expected out around the end of the month

  • IRS rules math error procedures can be used even after refunds are issued

Copyright 2018, Kaplan, Inc.

Direct download: 2018-09-17_Are_349_Filings_Unconstitutional.mp3
Category:general -- posted at: 5:23pm EST

This week we look at the following items:

  • South Dakota to hold a special session so the state can begin to take advantage of their victory in the Wayfair case
  • Taxpayer who withdrew IRA funds based on a notice of intent to levy cannot escape 10% additional tax
  • IRS clarifies the application of the proposed SALT regulations leading to a bevy of questions
  • IRS memorandum concludes seismic fees for offshore drilling must be amortized and cannot be treated as intangible drilling costs
  • President issues an Executive Order for DOL and Treasury to consider certain changes to retirement plans
  • Tax Court disagrees with the IRS’s view on how §1291(c) gains interact with six year statute

Copyright 2018, Kaplan, Inc.

Direct download: 2018-09-10_SALT_Clarification_-_Well_Not_Really.mp3
Category:general -- posted at: 8:48pm EST

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