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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Mon, 4 March 2013
Nichols Patrick Weekly Tax Update
With E. Lynn Nichols, CPA
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
Direct download: Federal_Tax_Update_3_4_2013.mp3
Category: Federal Tax Update
-- posted at: 12:15pm EDT
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Wed, 27 February 2013
Nichols Patrick Weekly Tax Update
With E. Lynn Nichols, CPA
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
Direct download: Federal_Tax_Update_2_25_2013.mp3
Category: Federal Tax Update
-- posted at: 8:32am EDT
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Mon, 11 February 2013
Nichols Patrick Weekly Tax Update
With E. Lynn Nichols, CPA
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
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Mon, 4 February 2013
Nichols Patrick Weekly Tax Update
With E. Lynn Nichols, CPA
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
Direct download: Federal_Tax_Update_Feb._4_2013.mp3
Category: Federal Tax Update
-- posted at: 4:47pm EDT
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Tue, 29 January 2013
Nichols Patrick Weekly Tax Update
With E. Lynn Nichols, CPA
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
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Mon, 7 January 2013
Nichols Patrick Weekly Tax Update
With E. Lynn Nichols, CPA
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
Direct download: Federal_Tax_Update_Jan._7_2013.mp3
Category: Federal Tax Update
-- posted at: 8:50am EDT
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