Wed, 1 May 2013
Federal Tax Update Podcast
With E. Lynn Nichols, CPA
This week's podcast includes:
- IRS Publication on Requesting Certificate of Release of Tax Lien
- Final Report on Tax-Exempt Colleges and Universities Compliance Project
- Settlement Guidelines on Federal Tax Treatment of Refundable New York State Enterprise Zone Credits
- Scary Tax Reform Concepts
- CFO's Signature Ineffective on Power of Attorney Form
- Marketplace Fairness Act Clears Another Procedural Hurdle in Senate
- Ninth Circuit Affirms Tax Court Valuation of Life Insurance
- Couple Had Unreported Income; Deposits Analysis Found Credible
Direct download: Federal_Tax_Update_4_29_2013.mp3
Category: Federal Tax Update
-- posted at: 8:44am EDT
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Mon, 22 April 2013
Nichols Patrick Weekly Tax Update
With E. Lynn Nichols, CPA
This week's podcast includes:
- California CPA Disbarred for Disreputable Conduct
- Only a Portion of Disability Benefits Excludable From Gross Income
- Offset of Self-Employment Tax Refunds Limited
- Domestic Corporation’s Attempt to Disguise Dividends From CFC Fails
- Requiring Joint Filing to Claim Adoption Credit Is Not Unconstitutional
- IRS Destroyed More Than 12,000 Reports of Fraud in Fiscal 2012
Direct download: Federal_Tax_Update_4_22_2013.mp3
Category: Federal Tax Update
-- posted at: 12:54pm EDT
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Mon, 15 April 2013
Nichols Patrick Weekly Tax Update
With E. Lynn Nichols, CPA
This week's podcast includes:
- D.C. Circuit Affirms S Corporation Loss Cannot Be Delayed, Penalty
- Cancellation of Notes Due From Partner Is Deemed Distribution
- Vehicle Service Contracts Qualify as Insurance
- S Corp Does Not Have More Than 1 Class of Stock
- “CARDS” Transaction Lacked Economic Substance
- Cancellation of Debt Not Compensation, No Accuracy-Related Penalty
- Advances to New Physicians Not Loans; Medical Clinic Denied Refund of FICA Taxes Paid
- Sole Shareholder's Compensation Unreasonable; Penalty Applies to Tax Underpayment
- IRS Fact Sheet Explains How to Report Natural Resources Income
- Reporting Requirements for Gifts From Foreign Individuals
Direct download: Federal_Tax_Update_4_15_2013.mp3
Category: Federal Tax Update
-- posted at: 9:14pm EDT
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Mon, 8 April 2013
Nichols Patrick Weekly Tax Update
With E. Lynn Nichols, CPA
This week's podcast includes:
- Book Publisher's Activities Are Not Production Activities
- Reporting Requirements for Condemnation Payments
- AIG Loses Summary Judgment Motion in Economic Substance Dispute
- Final Report on Retirement Plan Questionnaire Results
- 2013 Allowable Living Expense Standards
- Rental Losses Are Passive, Accuracy-Related Penalty Upheld
- CPA Firm Seeks Clarity In Proposed Net Investment Income Tax Regs
- Net Investment Income Tax May Not Qualify for Foreign tax Credit
- Sixth Circuit Affirms Enforcement of IRS Summons to Payroll Company
- Ninth Circuit Affirms Estate's Liability for Late-Filing Penalty
- Texas CPAs Say Repair Regs Fail to Reflect How Small Businesses Operate
Direct download: Federal_Tax_Update_4_8_2013.mp3
Category: Federal Tax Update
-- posted at: 3:24pm EDT
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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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