This week we look at:

  • IRS reopens IVES and user-fees based programs

  • Advisers need to be sure to check syndicate rules to assure entity not subject to §163(j) rules

  • Treat of realtors revised in second draft version of portion of Publication 535

  • Filing season to start January 28, refunds are going to be issued

  • Address to file gift tax returns has changed, estate tax return address to change in July

Copyright 2019, Kaplan, Inc.

Direct download: 2019-01-14_-_Syndicate_Danger.mp3
Category:general -- posted at: 12:39pm EST

This week's developments:

  • IRS Notice gives guidance to tax-exempt organizations on excess compensation tax

  • Outgoing W&M Chairman publishes discussion paper on TCJA technical corrections

  • §199A final regulations still sitting at OIRA

Copyright 2019, Kaplan, Inc.

Direct download: 2019-01-07_All_Quiet_on_the_Tax_Front.mp3
Category:general -- posted at: 4:44pm EST

This week we look at:

  • Loan Adviser Found Not Liable to Repay in FINRA Treated as Ordinary Income from Debt Forgiveness

  • IRS Raises Values Dramatically on Vehicles Eligible for Cents-Per-Mile and Fleet-Average Valuation Rules

  • Safe Harbor Issued on Charitable Contribution Credits Related to a Trade or Business

  • Revenue Procedure Issued to Deal with ADS Issues for Electing Farm and Real Property Businesses

  • IRS Publication Indicates Real Estate Agents/Brokers and Insurance Agents/Brokers are in a Specified Service Trade or Business

  • Proposed Regulations on Treating Sale of Partnership Interest as Effectively Connected to US Trade or Business

  • IRS Announces Plan to Issue Regulations on Two Special Enforcement Matters Under CPAR, as Well as CPAR Final Regulations

  • Annual Disclosure Revenue Procedure Updated by IRS

Copyright 2018, Kaplan, Inc.

Direct download: 2018-12-31-_Lump_of_Coal_for_Real_Estate_Agents_.mp3
Category:general -- posted at: 5:00pm EST

This week we look at:

  • Just prior to the one year anniversary of TCJA, we finally get a Joint Committee staff Blue Book.on the law

  • Tax credits for purchases of Teslas are being phased-out during 2019

  • MFP payments found in IRS memorandum to be taxable income and part of self-employment income

  • Auto mileage rates for 2019 issued by the IRS

  • A management company that managed a marijuana dispensary was subject to the deduction disallowance rules of §280E

  • A limited amount of additional information released by the IRS on excess loss and NOL rules under TCJA

Copyright 2018, Kaplan, Inc.

Direct download: 2018-12-24_Feeling_Blue_Book_Over_the_Holidays.mp3
Category:general -- posted at: 5:43pm EST

This week we look at:

  • IRS releases more proposed regulations

  • Lack of documentation dooms deduction for taxpayers

  • §199A final regulations sent to OIRA for review

  • Guidance issued on valuing employer-provided parking for parking lot tax

  • Relief given for some tax-exempt organizations first filing Form 990-T to pay parking lot tax

  • Taxpayers who were out of the country for much of the period of nonpayment still found to be responsible persons

Copyright 2018, Kaplan, Inc.

Direct download: 2018-12-17_All_We_Want_for_Christmas_Are_Our_199A_Final_Regulations.mp3
Category:general -- posted at: 12:33pm EST

This week we look at the following items:

  • Wisconsin passes its version of an optional passthrough tax to get around SALT limits, but with a twist

  • Guidance released on Section 81(i) stock elections

  • Taxpayer finds you still need some documentation to claim cellular phone expenses

  • IRS fails to persuade Court that a taxpayer had changed its accounting method

  • A brief revisit to the Section 451(b) automatic change revenue procedure

  • Taxpayer warned about filing Tax Court petition primarily to delay collection

Copyright 2018, Kaplan, Inc.

Direct download: 2018-12-10SALTWorkaroundWisconsinStyle.mp3
Category:general -- posted at: 6:02pm EST

This week we look at:

  • Proposed anti-clawback regulations issued

  • Final §263A negative amount regulations issued

  • §163(j) proposed regulations leave OIRA (finally), last step before publication

Copyright 2018, Kaplan, Inc.

Direct download: 2018-11-26_Slow_March_of_the_163j_Proposed_Regulations.mp3
Category:general -- posted at: 11:02am EST

This week we look at the following items:

  • IRS publishes 2019 inflation adjusted figures

  • IRS notes increase in breaches of systems of tax return preparers in 2018

  • Filing and deposit date relief announced for victims of California wildfires

  • IRS email discusses application of due diligence preparer penalties

Copyright 2018 Kaplan Professional Education

Direct download: 2018-11-19_Chained_CPI_Makes_Its_Full_Debut.mp3
Category:general -- posted at: 6:41pm EST

This week we look at the following items:

  • §163(j) proposed regulations due this week

  • IRS releases final TCJA due diligence regulations

  • Country singer found not to operate night club for a profit

  • Foreign earned income denied when taxpayer did not show his abode was outside the United States

Copyright 2018 Kaplan Professional Education

Direct download: 2018-11-12_Due_Diligence.mp3
Category:general -- posted at: 7:41am EST

This week we look at the following items:

  • Inflation-adjusted retirement plan numbers for 2019 released

  • IRS publishes draft Form 990-T and instructions with details on the parking lot tax

  • Students lose at DC Circuit in attempt to claim travel deductions

  • A Blue Book on TCJA may be coming soon

  • A taxpayer is denied relief from liability for tax due on a joint return the court finds she didn’t file

Copyright 2018, Kaplan, Inc.

Direct download: 2018-11-05_Parking_Lot_Tax.mp3
Category:general -- posted at: 5:24pm EST



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