Federal Tax Update Podcast

With E. Lynn Nichols, CPA

This week's podcast includes:

  • S Corp Not Deemed to Have More Than 1 Class of Stock
  • Eleventh Circuit Affirms Decision Refusing to Quash IRS Summonses
  • Treasury Delays Employer Healthcare Insurance Mandate Until 2015
  • Final Regs on Deferred Discharge of Indebtedness Income of Corporations and Deferred OID Deductions
  • Final Regs on Deferred Discharge of Indebtedness Income of Partnerships, S Corps
  • S Corp Can Expense Business Assets Up to Maximum Sec. 179 Amount
  • IRS Advises on Tax Treatment of Severance Pay
  • Government Seeks Certiorari on FICA Tax Treatment of Severance Payments
  • IRS Provides Instructions for Optional Expedited Process for Some Tax-Exempt Applications
  • Eleventh Circuit Affirms Tax Court; Corporation Bound by Original Price Allocations
  • Individual's Rental Activity Losses Denied Under Passive Activity Loss Rules
Direct download: Federal_Tax_Update_07_08_2013.mp3
Category:Federal Tax Update -- posted at: 12:51pm EDT

Federal Tax Update Podcast
With E. Lynn Nichols, CPA

This week's podcast includes:

  • Repair Regs' Transition Guidance Will Give Taxpayers Flexibility
  • Application of Sale Proceeds to Pay Down Credit Line Not Fatal to Like-Kind Exchange
  • Conditional Return of Donation of Conservation Easement and Cash Bars Charitable Contribution Deduction
  • IRS Offers Streamlined Option to Free Some Groups From Backlog of Tax-Exempt Applications
  • Individual Owes Tax on Distribution From Former Wife's Retirement Account
  • Company's Services to Owner Shouldn't Be Treated as Constructive Dividend
  • Second Circuit Affirms Tax Court; Company Liable for Taxes, Penalties
Direct download: Federal_Tax_Update_07_01_2013.mp3
Category:Federal Tax Update -- posted at: 12:26pm EDT

With E. Lynn Nichols, CPA

This week's podcast includes:

  • Indemnity of a Partnership's Indebtedness Should Be Ignored, IRS Advises
  • Cash Settlement Payment Won't Be Treated as Other Than Voting Stock
  • Subsidiaries Will Be Treated as Having Joined Consolidated Return
  • Couple Liable for Self-Employment Taxes on Payments From USDA Conservation Reserve Program
  • LB&I Issues Memorandum on Information Document Requests
  • Tax Court Finds IRS Positions Justified, Denies Corporation Litigation Costs
  • IRS Analysis Finds Positive Results From Return Preparer Oversight
  • IRS Provides Information on Professional Responsibility and FBAR Filing Requirements
Direct download: Federal_Tax_Update_6_24_2013.mp3
Category:Federal Tax Update -- posted at: 2:39pm EDT

With E. Lynn Nichols, CPA

This week's podcast includes:

  • Collaboration Is a Partnership
  • Reminder - IRS Needs Judicial Approval to Levy a Principal Residence
  • Website Service Provider Denied Exempt Status . . . . 1 of 3 exemption rulings
  • Organization Supporting Polygamy Not Entitled to Tax-Exempt Status
  • Veterans Group Loses Tax-Exempt Status
  • NASBA advises private companies not to use the AICPA’s financial reporting framework for small and medium-sized entities
  • Abandonment of Property, Foreclosure of Mortgage Resulted in Capital Gain
  • Dentist Not Allowed to Deduct Expenses Incurred While Traveling to Work
  • Partner Not Allowed to Report Sale of Unrealized Receivables Under Installment  Method
Direct download: Federal_Tax_Update_06_17_2013.mp3
Category:Federal Tax Update -- posted at: 10:11am EDT

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

This week's podcast includes:

  • Purported Management Fee Payments Weren't Deductible
  • Independent Contractor Can't Deduct Travel Expenses
  • Real Estate Activity Was Passive; Rental Property Losses Disallowed
  • No Carryover Deductions From Conservation Easement Contribution
  • Bankruptcy Court Denies Confirmation of Debtor's Plan for Not Including Future Tax Refunds
  • Payment to Former Spouse Not Alimony; No Penalty Imposed
  • Finance Committee Releases Tax Reform Paper on Income and Business Entities
  • Salesman Denied Deductions for Employee Business Expenses
  • Wells Fargo Not Required to Turn Over Some Tax Accrual Workpapers to IRS
Direct download: Federal_Tax_Update_06_10_2013.mp3
Category:Federal Tax Update -- posted at: 8:53am EDT

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

This week's podcast includes:

  • Distribution of Foreign Company Stock Is Indirect Disposition of Intangible Property
  • Settlement Agreement Does Not Result in Self-Dealing
  • Relief for Single Rental Real Estate Activity Treatment Available At Appeals
  • New Draft Form for Reporting Specified Foreign Financial Assets
  • Supreme Court Denies Cert in Historic Boardwalk
  • Individual Granted Equitable Innocent Spouse Relief
  • Partnership Continues Following Series of Transactions That Make It A Single Member Entity
Direct download: Federal_Tax_Update_06_03_2013.mp3
Category:Federal Tax Update -- posted at: 10:22am EDT

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

This week's podcast includes:

  • Fraternal Society's Sale of Insurance Policies to Nonmember Spouses Is Unrelated Trade or Business
  • Hawkins Says Tax Practitioners Don't Need Definitions of “Competence”
  • Termination of S Corp Election Inadvertent, IRS Requires Corrective Actions
  • Eleventh Circuit Affirms Stock Option Received for Performance of Services
  • Broadcaster's Promotional Service Fees Earned as Independent Contractor
  • Bankrupt QSub Did Not Have Property Interest in its QSub Status
  • Tax 'Glitch' Disallowing Traders' Losses Is Proving Hard to Resolve
  • Other Responsible Person's Payment Should Reduce Individual's Liability for Trust Fund Recovery Penalty
  • Treasury Preparing Transition Rules for Proposed Disguised Sale Regulations
Direct download: Federal_Tax_Update_5_28_2013.mp3
Category:Federal Tax Update -- posted at: 3:28pm EDT

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

This week's podcast includes:

  • Final Regs on Deemed Asset Sale Elections
  • Tax Court Vacates Summary Judgment to IRS in Whistleblower Suit
  • Restriction on Use of Property Affects Its Fair Market Value
  • Partnership Income Accrues on Last Day of Partnership Tax Year
  • Payments in Lieu of Health Benefits Are Taxable Wages
  • Couple Wasn't Entitled to Deduct Interest Added to Mortgage Principal
  • Q&A on Application Process for Groups Seeking Tax-Exempt Status
  • Class Action Alleges IRS Agents IRS Agents Illegally Seized Medical Records
Direct download: Federal_Tax_Update_5_20_2013.mp3
Category:Federal Tax Update -- posted at: 11:09am EDT

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

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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