Federal Tax Update Podcast

Sun, 19 November 2017

2017-11-20 One Down, One to Go

Another week as Congress continues down the path towards comprehensive tax reform. This week we look at the changes the Senate made to its bill, as well as the passage by the House of their version of the bill. We also discuss what comes next in this process.

The PDF below has the description of the two bills as they stood when this was recorded on November 18, 2017.

2017-11-20 Current Federal Tax Developments

Direct download: 2017-11-20_One_Down_One_to_Go.mp3
Category:Federal Tax Update -- posted at: 2:27pm EDT

Sat, 11 November 2017

2017-11-13 Tax Reform Continues

This week we look at the current developments on the tax reform front, including the two amendment sets adopted by the Ways and Means Committee and the Joint Committee's explanation of the bill the Senate Finance Committee will hold hearings on beginning Monday.

This week's session is related to the following items this week related to the Tax Reform and Jobs Act.

Direct download: 2017-11-13_Tax_Reform_Continues.mp3
Category:general -- posted at: 3:09pm EDT

Mon, 6 November 2017

2017-11-06 Current Federal Tax Developments - Tax Reform Starts

Current Federal Tax Developments is brought to you by the Loscalzo Institute and your state society of CPAs. This week we look at HR1, Tax Cuts and Jobs Act.

A PDF with a description of the provisions can be downloaded below:

2017-11-06 Current Federal Tax Developments

Direct download: 2017-11-06_Current_Federal_Tax_Developments_-_Tax_Reform_Starts.mp3
Category:general -- posted at: 7:44am EDT

Sat, 28 October 2017

2017-10-30 Kick Off for Tax Reform

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

Direct download: 2017-10-30_Kick_Off_for_Tax_Reform.mp3
Category:general -- posted at: 1:30pm EDT

Sat, 21 October 2017

2017-10-23 Indexing Time of the Year

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

Direct download: 2017-10-23_Indexing_Time_of_the_Year.mp3
Category:general -- posted at: 1:32pm EDT

Sun, 15 October 2017

2017-10-16 Housing Allowance Returns to Court

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.

Direct download: 2017-10-16_Housing_Allowance_Returns_to_Court.mp3
Category:general -- posted at: 3:45pm EDT

Sat, 7 October 2017

2017-10-09 Congress Proves It Can Pass a Tax Bill

Loscalzo Institute/A Kaplan Corporation Current Federal Tax Developments Weekly Update Podcast with Ed Zollars, CPA

This week we look at the following developments:

South Dakota petitions the Supreme Court for its Quill challenge
Congress passes a Hurricane relief bill
Taxpayer did not willfully fail to file FBAR
Parents are held liable to repay dependent son’s advanced health insurance credit
LB&I announces method that can be used to start with ASC 750 research expenses in computing qualified research expenditures
Time off donation programs expanded to cover Hurricane Maria relief donations
IRS releases special per diem rates for new fiscal year

Direct download: 2017-10-09_Congress_Proves_It_Can_Pass_a_Tax_Bill.mp3
Category:Federal Tax Update -- posted at: 1:32pm EDT

Sat, 30 September 2017

2017-10-02 Framing Tax Reform

Loscalzo Institute/A Kaplan Corporation Current Federal Tax Developments Weekly Update Podcast with Ed Zollars, CPA

This week we look at the framework for comprehensive tax reform that was issued by the “Big 6” and is scheduled to be taken up by Congress. We discuss the proposal’s framework for changes in:

Standard deduction and personal exemptions
Individual tax brackets
Alternative minimum tax repeal
Itemized deductions
Work, education and retirement issues
Estate and GST Tax repeal
Business tax rates
Expensing of capital improvements
Interest expense
Other business deductions and credits
Offshore corporate earnings
Where does this go from here?

Direct download: 2017-10-02_Framing_Tax_Reform.mp3
Category:general -- posted at: 12:41pm EDT

Sat, 23 September 2017

2017-09-25 Good Deeds and Conflicts of Interest

Loscalzo Institute/A Kaplan Corporation Current Federal Tax Developments Weekly Update Podcast with Ed Zollars, CPA

This week we look at the following developments

IRS Extends Harvey Relief to Victims of Irma
South Dakota Ready to Ask Supreme Court to Throw Out Quill
Massachusetts Releases Regulations That Broadly Define Physical Presence
IRS Has Right to Examine First Deceased Spouse Form 706 to Decrease DSUE at Second Death

Direct download: 2017-09-25_Good_Deeds_and_Conflicts_of_Interest.mp3
Category:Federal Tax Update -- posted at: 9:50am EDT

Sat, 16 September 2017

2017-09-18 Making Quill Irrelevant

Loscalzo Institute/A Kaplan Corporation Current Federal Tax Developments Weekly Update Podcast with Ed Zollars, CPA

This week we look at the following developments

IRS Extends Harvey Relief to Victims of Irma
South Dakota Ready to Ask Supreme Court to Throw Out Quill
Massachusetts Releases Regulations That Broadly Define Physical Presence
IRS Has Right to Examine First Deceased Spouse Form 706 to Decrease DSUE at Second Death

Direct download: 2017-09-18_Making_Quill_Irrelevant.mp3
Category:Federal Tax Update -- posted at: 5:55pm EDT

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