Tue, 14 May 2013
Federal Tax Update Podcast
With E. Lynn Nichols, CPA
This week's podcast includes:
- Final Regs Require EIN Holders to Provide Current Information
- Taxable Coop Can't Aggregate Patronage, Non-patronage Income for QDPD
- Elected Constables Are Employees for Tax Purposes; County Is Employer
- Corporate Donation of Depreciated Property Not Subject to Sec. 291 Reduction
- JCT Report and W&M Working Groups Could Smooth Route to Tax Reform
- Tax Court Remands Case to IRS Appeals Office for Consideration, Clarification
- Tax Court Dismisses Case Filed by Entity Whose Corporate Status Was Suspended
- Researcher, Writer Can't Deduct Expenses for Trips to France
- Individuals Engaged in Prohibited Transactions With IRAs
Direct download: Fedearl_Tax_Update_5_13_2013.mp3
Category: Federal Tax Update
-- posted at: 11:19am EDT
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Wed, 8 May 2013
Federal Tax Update Podcast
With E. Lynn Nichols, CPA
This week's podcast includes:
- Maximum Values of Employer-Provided Vehicles for 2013
- Determination of Trusts' Material Participation in Company
- American Bar Retirement Association Wasn't Tax-Exempt Business League
- Couple Denied Loss Deductions, Liable for Accuracy-Related Penalty
- Guidance Published on Whether Health Plans Provide Minimum Value
- Trusts Were Shams, Disregarded for Federal Tax Purposes
- IRS to Amend Rules on Bottom-Dollar Guarantees
Direct download: Federal_Tax_Update_5_6_2013.mp3
Category: Federal Tax Update
-- posted at: 8:16am EDT
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Wed, 1 May 2013
Federal Tax Update Podcast
With E. Lynn Nichols, CPA
This week's podcast includes:
- IRS Publication on Requesting Certificate of Release of Tax Lien
- Final Report on Tax-Exempt Colleges and Universities Compliance Project
- Settlement Guidelines on Federal Tax Treatment of Refundable New York State Enterprise Zone Credits
- Scary Tax Reform Concepts
- CFO's Signature Ineffective on Power of Attorney Form
- Marketplace Fairness Act Clears Another Procedural Hurdle in Senate
- Ninth Circuit Affirms Tax Court Valuation of Life Insurance
- Couple Had Unreported Income; Deposits Analysis Found Credible
Direct download: Federal_Tax_Update_4_29_2013.mp3
Category: Federal Tax Update
-- posted at: 8:44am EDT
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Mon, 22 April 2013
Nichols Patrick Weekly Tax Update
With E. Lynn Nichols, CPA
This week's podcast includes:
- California CPA Disbarred for Disreputable Conduct
- Only a Portion of Disability Benefits Excludable From Gross Income
- Offset of Self-Employment Tax Refunds Limited
- Domestic Corporation’s Attempt to Disguise Dividends From CFC Fails
- Requiring Joint Filing to Claim Adoption Credit Is Not Unconstitutional
- IRS Destroyed More Than 12,000 Reports of Fraud in Fiscal 2012
Direct download: Federal_Tax_Update_4_22_2013.mp3
Category: Federal Tax Update
-- posted at: 12:54pm EDT
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Mon, 15 April 2013
Nichols Patrick Weekly Tax Update
With E. Lynn Nichols, CPA
This week's podcast includes:
- D.C. Circuit Affirms S Corporation Loss Cannot Be Delayed, Penalty
- Cancellation of Notes Due From Partner Is Deemed Distribution
- Vehicle Service Contracts Qualify as Insurance
- S Corp Does Not Have More Than 1 Class of Stock
- “CARDS” Transaction Lacked Economic Substance
- Cancellation of Debt Not Compensation, No Accuracy-Related Penalty
- Advances to New Physicians Not Loans; Medical Clinic Denied Refund of FICA Taxes Paid
- Sole Shareholder's Compensation Unreasonable; Penalty Applies to Tax Underpayment
- IRS Fact Sheet Explains How to Report Natural Resources Income
- Reporting Requirements for Gifts From Foreign Individuals
Direct download: Federal_Tax_Update_4_15_2013.mp3
Category: Federal Tax Update
-- posted at: 9:14pm EDT
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Mon, 8 April 2013
Nichols Patrick Weekly Tax Update
With E. Lynn Nichols, CPA
This week's podcast includes:
- Book Publisher's Activities Are Not Production Activities
- Reporting Requirements for Condemnation Payments
- AIG Loses Summary Judgment Motion in Economic Substance Dispute
- Final Report on Retirement Plan Questionnaire Results
- 2013 Allowable Living Expense Standards
- Rental Losses Are Passive, Accuracy-Related Penalty Upheld
- CPA Firm Seeks Clarity In Proposed Net Investment Income Tax Regs
- Net Investment Income Tax May Not Qualify for Foreign tax Credit
- Sixth Circuit Affirms Enforcement of IRS Summons to Payroll Company
- Ninth Circuit Affirms Estate's Liability for Late-Filing Penalty
- Texas CPAs Say Repair Regs Fail to Reflect How Small Businesses Operate
Direct download: Federal_Tax_Update_4_8_2013.mp3
Category: Federal Tax Update
-- posted at: 3:24pm EDT
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Wed, 3 April 2013
Nichols Patrick Weekly Tax Update
With E. Lynn Nichols, CPA
This week's podcast includes:
- How to Dispute Employment Tax Assessment
- State Law Determines Who Can Bind Partnership
- Questionnaire Sent to Groups That Declare Themselves to Be Tax Exempt
- Tax Court Determines Reasonable Compensation for Corporate Officers and Employees, Then Determines Reasonable Rental for Warehouse and Office
- Transfer of Patents Was a Sale Subject to Amortization
- Payments for Compensatory Damages Are Ordinary Business Expenses
- Hawkins Elaborates on Conflicts of Interest
- Appeals Court Refuses to Lift Injunction on Return Preparer Regulations
- 2012 Employee Plans Issue Focus Paper on Plan Terminations
Direct download: Federal_Tax_Podcast_4_1_2013.mp3
Category: Federal Tax Update
-- posted at: 10:59am EDT
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Mon, 25 March 2013
Nichols Patrick Weekly Tax Update
With E. Lynn Nichols, CPA
This week's podcast includes:
- Federal Agency's Commissioners Are Employees for Tax Purposes
- Distributions of Damages Are Excludable From Victims' Income
- IRS Publishes Final, Temporary Regs on Outbound Asset Transfers
- IRS Publishes Proposed Regs on Waiting Period for Health Insurance
- IRS Announces Penalty Relief for Delayed 2012 Tax Forms
- IRS Provides Penalty Relief for Delayed 2012 Tax Forms
Direct download: Federal_Tax_Update_3_25_2013.mp3
Category: Federal Tax Update
-- posted at: 3:13pm EDT
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Mon, 18 March 2013
Nichols Patrick Weekly Tax Update
With E. Lynn Nichols, CPA
This week's podcast includes:
- IRS Stops Printing Paper Copies of Internal Revenue Bulletin
- Exterior HVAC Units Are Not Qualified Leasehold Improvement Property
- Ruling Permitting Late S Corp Election Has Limited Effect
- Value of Interests in Artwork Determined for Estate Tax Purposes
- ank Deposits Determine Taxable Income of Pastors
- Family Support Payments Are Deductible as Alimony
- Application of UNICAP Method to OREO Property Costs
- FAQ on Schedule UTP Revised
Direct download: Federal_Tax_Update_3_18_2013.mp3
Category: Federal Tax Update
-- posted at: 8:52pm EDT
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Mon, 11 March 2013
Nichols Patrick Weekly Tax Update
With E. Lynn Nichols, CPA
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
Direct download: Federal_Tax_Update_3_11_2013.mp3
Category: Federal Tax Update
-- posted at: 10:55am EDT
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