Federal Tax Update Podcast

Nichols Patrick Weekly Federal Tax Update with Ed Zollars, CPA

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This week's podcast includes:

• Taxpayers Participating in Gambling Treatment Program Where Any Winnings are Forfeited to the State Not Taxable on Winnings Forfeited
• "Disregarded" LLC Must Be Considered When Valuing Charitable Contribution
• IRS Issues Last Set of Final Regulations from Tangible Property Project Related to Group Asset Accounts
• Fact that TMP Was Under Criminal Investigation Did Not Invalidate FPAA
• And Much More...

Nichols Patrick Weekly Federal Update Podcast with Ed Zollars, CPA

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This week's podcast includes:

• Office in Home Rules Applied to RV, No Deduction Allowed Despite Showing of Business Use
• Despite Admission of Advisor of Giving Bad Advice, IRS Denies Late Rollover Relief
• Aircraft Was Separate Activity from Business, Taxpayer Failed to Show Material Participation
• Final Whistleblower Regulations Issued by IRS
• And More...

Nichols Patrick Weekly Tax Update with Edward K. Zollars, CPA

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This week's podcast includes:

• Court Allows for Unavoidable Personal Use of Office Portion of Studio Apartment, Grants Deduction
• Advisor's Assurance that Investment Would Be Returned Within 60 Days Found to Provide Cause to Grant Relief for Late Rollover
• No Current Deduction Allowed for Unredeemed Portion of Customer Loyalty Program Discounts, as Fact of Liability Not Yet Established
• Draft Form to Report Individual Shared Responsibility Payment Exemption Released by IRS
• IRS Releases Reconciliation of Premium Tax Credit Form
• And More....

Nichols Patrick Weekly Federal Tax Update Podcast with Edward K. Zollars, CPA

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This week's podcast includes:

• Fact Mother Named Custodial Parent in Divorce Not Relevant to Dependency Exemption When Child Spends More Nights with Father
• Organization Offering Qualified Plans to Attorneys Only Not a Tax Exempt Business League
• Final Regulations Clarify that Partnership May Not Write-off Unamortized Start-up Costs or Partnership Organization Costs Due to a Technical Termination
• And More...

Nichols Patrick  Federal Tax Update Podcast with Edward K. Zollars, CPA

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This week's podcast includes:

• Contingent Fee Rule in Circular 230 Struck Down Provisions Regulating Preparations By CPAs Brought Into Question
• IRS Unveils Voluntary Tax Preparer Registration Program Despite Complaints of AICPA & NAEA, AICPA Files Suit To Block While National Taxpayer Advocate Praises The Program
• IRS Issues Final Regulations On Deductions Subject to 2% Limitation For Fiduciary Returns, Delays Effective Date
• Debt Secured By Different Residence Not Acquisition Debt For Qualified Mortgage Debt Exclusion
• And More...

Nichols Patrick Federal Tax Update Podcast with Edward K. Zollars, CPA

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This week's podcast includes:

• PROPERTY WAS NO LONGER (IF EVER) A RENTAL TRADE OR BUSINESS, INTEREST ONLY POTENTIALLY DEDUCTIBLE AS HOME MORTGAGE INTEREST
• FAILURE TO ESTABLISH A BONA FIDE DEBT FATAL TO TAXPAYER'S CLAIMED BUSINESS BAD DEBT DEDUCTION
• IRS OFFICIALLY WITHDRAWS PROPOSED REGULATIONS AT ODDS WITH COURT RULINGS IN THE BOBROW IRA CASE
• AND MORE....

Nichols Patrick Federal Tax Update  with Edward K. Zollars, CPA

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This week's podcast includes:

• IRS Unveils Voluntary Tax Preparer Registration Program Despite Complaints of AICPA &  NAEA
• IRS Issues Proposed Final Regulations On Post - 2013 Smaller Employer Health Care Credit
• Participants in Defined Contribution Plans to be Allowed to Use a Portion of Benefits to Purchase Qualified Longevity Annuity Contract
• IRS Issues Simplified Form 1023 fir Small Section 501 (C)(3) Organizations
• Merged Corporations Allowed to use Interest Netting Rules for Pre & Post Merger Tax Overpayments & Underpayments
• IRS Not Required to "Piece Together" Hints Regarding Omitted Income, Tax- Payer Hit With Six Year Statute of Limitations

Nichols Patrick Federal Tax Update Podcast  with E. Lynn Nichols, CPA

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This week's podcast includes:

• Fraternal Group's Insurance Sales Related to Exempt Purpose
• Loan to ESOPs Is a Prohibited Transaction
• Final Regs on Waiting Period for Health Insurance
• IRS May Investigate, Assess Preparer Penalties 
  Before Return Examined
• Individual Who Didn't Retrieve Mail Can't Challenge Tax Liability
• Tax Court Disallows Business Deductions, Upholds Penalty
• And much more!!

Federal Tax Update Podcast    With E. Lynn Nichols, CPA

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This week's podcast includes:

• Sixth Circuit Affirms Business Expense Deductions for Lease Buyout
• Tax Court Disallows Rental Real Estate Losses, Imposes Penalty
• Complexity Causes Students to Forgo Tax Credit
• Tax Court Disallows Travel Agent's Business Expense Deductions
• Partnership's Charitable Contribution Deduction Denied
• Individual Allowed Deductions for stepchildren, Not Former Wife
• Tax Practitioner's Rights in Circular 230 Disciplinary Cases

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

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This week's podcast includes:

• Taxpayer Not Securities Dealer Under Section 475
• Online Poker Accounts are “Foreign Bank Accounts” for FBAR Inclusion
• Termination of S Corp Election Inadvertent
• IRS Discusses Application of Reportable Transaction Penalty
• Final Circular 230 Regs Eliminate Covered Opinion Rules
• Individual's Transaction Can't Be Treated as Like-Kind Exchange
• IRS Revises Guidance for Practitioners Sanctioned Under Circular 230
• Stock Rights Aren't Considered Nonqualified Deferred Compensation Plans
• Tax Court Allows Some Deductions but Upholds Penalties
• Supreme Court Holds Inherited IRA Not Exempt in Bankruptcy
• Additional Alimony Deduction Denied; Penalty May Apply