Federal Tax Update Podcast (Federal Tax Update)

Nichols Patrick Weekly Tax Update 

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• IRS Files Notice of Appeal in Return Preparer Regulations Case
• Government Seeks Stay in PTIN Reg Case
• Payments Under Settlement Agreement Are Deductible Business Expenses
• Proper Year to Deduct Theft Loss Claim Based on Fraudulent Investment
• IRS Addresses Effect on Amounts at Risk for Guarantees of LLC Debt
• 2013 Limits on Depreciation Deductions for Autos
• Bank Must Capitalize Costs Associated With Holding OREO Property
• IRS Releases Publication on Choosing a Small Business Retirement Plan
• Voluntary Worker Classification Settlement Program Expanded
• FAQ on Voluntary Classification Settlement Program
• Workers Were Employees; Company Owner Liable for  Employment Taxes

Nichols Patrick Weekly Tax Update 

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• Electronic Health Record Incentive Payments Must be Included in Income, and Reported by Payor
• Updated List of Farm Crops That Must Be Capitalized
• Termination of Insurance Policy Results in Taxable Income
• Updated Publication Gives Contact Information for Taxpayer Advocate Service
• Home Mortgage Interest Deduction Limited by Choice of Filing Status
• Horse Breeding Not For-Profit; Deductions Denied; Accuracy Penalty Upheald
• Horse Breeding Not for Profit, Deductions Denied, No Accuracy Penalty
• Deductions Disallowed, Accuracy-Related Penalties Applied
• No Deductions for Rental Real Estate Losses; Penalties Upheld

Nichols Patrick Weekly Tax Update 

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• First Circuit Affirms Dismissal of Malpractice Suit Against Accountant
• Extension to File Request to Change Accounting Period Denied
• Request to Change Accounting Period Deemed Timely Filed
• Final Regs on Tax Treatment of Noncompensatory Partnership Options
• Proposed Noncompensatory Partnership Option Regs
• Partnership Options Regs Finalized, Expanded Recharacterization Rule Proposed
• Real Estate Losses, Deductions Denied; Accuracy-Related Penalties Upheld
• Failure to Provide Qualified Appraisal Results in Denial of Charitable Deduction
• Improper Basis Adjustment to S Corporation Stock
• Accountants Liable for Trust Fund Recovery Penalties
• Easement Granted In Exchange for Subdivision Exemption Wasn't Deductible as Charitable Contribution
• Settlement Payments Not Deductible; Government Granted Summary Judgment

Nichols Patrick Weekly Tax Update 

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• No Deduction for Conservation Easement Donation
• Taxpayers Failed to Disclose Listed Transaction; Penalty Upheld
• Proposed Regs on Individual Shared Responsibility Provision
• FAQ on Individual Shared Responsibility Provision
• Fact Sheet on Healthcare Shared Responsibility Rules
• Tax Court Rejects IRS Adjustments to Automobile Businesses' Gross Receipts
• Claims Court Has Jurisdiction to Determine Application of Accuracy-Related Penalty

Nichols Patrick Weekly Tax Update 

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• TIGTA Releases Fiscal 2013 Audit Plan
• Applicable Federal Rates for February
• Penalty Relief for Farmers and Fishermen
• Reasonable Cause Can Be Considered in Partnership-Level Proceeding
• Individual Liable for Additional Tax on IRA Distribution
• Tax Court Asserts Accuracy-Related Penalty in Like-Kind Exchange
• Government Asks Court to Suspend Injunction in Return Preparer Regs Case

Nichols Patrick Weekly Tax Update 

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• Proposed Regs on Employer Shared Responsibility for Health Insurance Coverage
• Q&A on Employer Shared Responsibility Provisions Under Affordable Care Act
• Proposed Regs on Truncated Taxpayer Identification Numbers
• Cost of Fiscal Cliff Avoidance Bill Estimated at $3.9 Trillion
• IRS Publication on Taxable and Nontaxable Income
• Social Security Disability Benefits Are Includable in Income