Federal Tax Update Podcast (general)

Current Federal Tax Developments is brought to you by the Loscalzo Institute, a Kaplan Company and by your state society of CPAs.

This week we look at the following developments:

• House adopts Senate budget resolution beginning tax reform process
• A taxpayer’s amount of claimed theft loss found excessive by Tax Court
• An expert’s testimony did not substitute for records of cost of goods sold
• IRS summons to state agency found to be proper
• IRS memo discusses indirect loan issues for church 403(b) plan

Copyright 2017 Kaplan Inc.

Current Federal Tax Developments for the week of October 23, 2017 - Indexing Time of the Year. Current Federal Tax Developments is brought to you by the state CPA societies and the Loscalzo Institute, a Kaplan Company.

This week we look at the following developments:

• IRS releases inflation adjusted tax factors for 2018
• LB&I Division issues guidance on unit of property and major component issues for the mining industry
• IRS announced retirement plan numbers for 2018
• IRS announces nonacquiesence in S corporation/real estate professional decision
• Anti-Kerr regulations officially withdrawn by the IRS
• 2017 Returns without health care information will not be accepted for efiling
• A court decision that appears to arrive at approximately the right place, but for all the wrong reasons

Copyright 2017 Kaplan Inc.

This week we look at the following developments:

• Filing date relief issued by IRS for victims of Northern California wildfires
• Challenge to minister’s housing allowance exclusion returns to court
• Tax Court will assert strict subordination requirement for mortgages on conservation easements outside First Circuit
• Signature no longer required for §754 election
• Retroactive loss of tax-exempt status going back a decade proves very costly in terms of interest on unpaid tax
• IRS email discusses potential impact on due date disaster relief and date for assessment of tax

PDF with articles for this week's podcast.

Copyright 2017 Kaplan Inc.

Copyright 2017 Kaplan Inc.

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