Federal Tax Update Podcast

With E. Lynn Nichols, CPA

This week's podcast includes:

  • Maximum Values of Employer-Provided Vehicles for 2014
  • Passive Activity Properly Treated as an Insurance Business
  • Lawsuit Settlement Liabilities Were Deductible Business Expenses
  • Countries for Which Income Exclusion Requirements Are Waived
  • Supreme Court Reverses Sixth Circuit in Quality Stores, Severance Payments Subject to FICA Taxes
  • Guidance on Application of Tax Principles to Virtual Currency Transactions
  • Trust Materially Participated in Real Property Business, Qualifies for Passive Activity Exception
Direct download: SS_AUDIO_03_31_2014.mp3
Category:Federal Tax Update -- posted at: 10:22am EDT

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

This week's podcast includes:

  • Estate's Representative Held Liable for Decedent's Outstanding Tax Debt
  • HHS Extends Individual Healthcare Mandate Hardship Exemption
  • Examining the First-Quarter Effect of the Expired Extenders
  • Wyden Planning Extenders Markup in Early April
  • Toyota Cannot Deduct Record $1.2 Billion Penalty
  • IRS to Hold Public Hearing on 501(c)(4) Proposed Rules
  • IRS Bars Appraisers From Valuing Facade Easements for 5 Years
  • IRA Rollover Limit Will Be Applied on an Aggregate Basis
  • Estate Denied Refund of Taxes Paid on Constructively Received Income
Direct download: Federal_Tax_Update_03_24_2014.mp3
Category:Federal Tax Update -- posted at: 8:33pm EDT

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

This week's podcast includes:

  • Tax Treatment of Per Capita Distributions to Members of Indian Tribes
  • Guidance on Failure to File Affiliated Group Form
  • Separately Filing Wife Not Protected by Husband’s Participation Under Passive Activity Rules
  • Individual Didn't Meet Qualifications for Dependency Exemption or Credits
  • Self-Insured Taxpayer's Legal Fees Are Not Specified Liability Losses
  • State Law Bars Charitable Contribution Deductions for Easements 
  • 7Estate's Deduction for Uncertain Litigation Claim Denied
  • Amounts Forfeited After Insider Trading Conviction are Deductible
Direct download: Federal_Tax_Update_03_17_2014.mp3
Category:Federal Tax Update -- posted at: 8:16pm EDT

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

This week's podcast includes:

  • IRS Modifies Procedures for Accounting Method Changes for Depreciation, Disposition of Assets
  • Form 8960 Instructions   
  • NII Tax Form Instructions Include Items Not Applicable for 2013
  • Working Capital and Inclusion Issues for IRC Sec. 1411
  • IRS Allowed to Reduce Debtor's Refund for Repayment of First-Time Home Buyer Credit
  • LB&I Issues Memorandum Updating Guidance on IDR Enforcement Process
  • Fifth Circuit Affirms Controlling Partners Entitled to Deduct Operational Expenses
  • IRS Issues Final Regs on Healthcare Coverage Information Reporting
  • IRS Issues Final Regs on Information Reporting of Minimum Essential Coverage
  • Treasury Releases Fact Sheet on Final ACA Information Reporting Regs
  • IRS Releases Video Providing Tax Tips to Same-Sex Married Couples
  • IRS Updates FAQ on Same-Sex Couples Married Under State Law
  • Couple Not Entitled to 'Currently Not Collectible' Status
  • IRS Releases Updated Audit Technique Guide on Farming Operations
Direct download: Federal_Tax_Update_03_10_2014.mp3
Category:Federal Tax Update -- posted at: 11:54am EDT

Federal Tax Update Podcast
With E. Lynn Nichols, CPA

This week's podcast includes:

  • Request to Change Accounting Period Deemed Timely Filed
  • Qui Tam Award Fails to Meet Requirements for Capital Gains Treatment
  • State Court Document Doesn't Meet Requirements to Let Noncustodial Parent Claim Dependency Exemption
  • Transaction Involving Allocation of State Tax Credits Was Disguised Sale
  • Court Dismisses Suit Challenging Levy on Retirement Benefits
  • IRS Issues Retirement Plans FAQ on EP Team Audit Program
  • Final Regs on Property Transferred for Services
  • Limits on Depreciation Deductions for Autos
  • IRS Properly Disallowed Deduction for IRA Contribution
  • Ninth Circuit Affirms Tax Lien Survived Bankruptcy, IRS May Levy on Pension Plan
  • IRS Updates FAQ on Net Investment Income Tax
Direct download: Federal_Tax_Update_03_03_2014.mp3
Category:Federal Tax Update -- posted at: 9:40am EDT

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

This week's podcast includes:

  • IRS Releases Transfer Pricing Audit Roadmap
  • Businesses Encouraged to Make Method Changes for Dispositions Now
  • Tax Court Upholds Disallowance of Couple's Rental Activity Losses
  • Individual Denied Alimony Deduction for Equalization Payment to Former Wife
  • Tax Court Grants Individual Relief From Joint Liability With Former Husband
Direct download: Federal_Tax_Update_02_24_2014.mp3
Category:Federal Tax Update -- posted at: 10:09am EDT

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

This week's podcast includes:

  1. Final Regs on Employer Shared Responsibility for Health Insurance Coverage
  2. FAQ on Employer Shared Responsibility Provisions Under ACA
  3. D.C. Circuit Holds Return Preparer Regulations Invalid
  4. Tax Court Determines Stock Value for Estate Tax Purposes, Sustains Penalty
  5. Development Company Properly Reported Income From Home Construction Contracts
  6. Interest Accrued on Insurance Policy Loan is Includible in Distribution
  7. Third Circuit Affirms QSub Election Didn't Result in Increased Basis
Direct download: Federal_Tax_Update_02_17_2014.mp3
Category:Federal Tax Update -- posted at: 1:24pm EDT

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

This week's podcast includes:

  • Fact Sheet Outlines Eligibility Rules for Earned Income Tax Credit
  • Capitalization of Payments Is Not Required
  • Stock Election Is Valid
  • Schedule UTP Filing Statistics From 2012 Tax Year
  • Safe Harbor for Treatment of Indebtedness Secured by Property
  • Doctor Can't Deduct Repayment of Funds Used for Medical Education
  • Credits Reduce Amount of Deductible Excise Tax Liability
  • Tax Court Determines Proper Treatment of Neurosurgeon's Work-Related Deductions
Direct download: Federal_Tax_Update_02_10_2014.mp3
Category:Federal Tax Update -- posted at: 8:51am EDT

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

This week's podcast includes:

  • Classification of Drywall Partitions for Depreciation Purposes
  • Termination of S Corp Election Inadvertent
  • 2014 NII Form Will Contain Changes
  • Deduction for Donated Building Disallowed Due to Deficient Appraisals
  • S Corporation ESOP Violated Antiabuse Provisions
  • Couple Received Taxable IRA Distributions, Liable for Penalties
  • Proposed Regs on Partnership Disguised Sales
  • Payments to Settle Lawsuit Includable in Income
  • Summary of 'myRA' Proposal
Direct download: Federal_Tax_Update_02_03_2014.mp3
Category:Federal Tax Update -- posted at: 11:11am EDT

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

This week's podcast includes:

  • Promised Revenue Procedure Provides Guidance For Compliance With New Tangible Property Regulations (aka “Repair Regs”)
  • Significant Changes to Forms 990 and 990-EZ for 2013 Returns Due May 15, 2014
  • Final Regulations Offer Taxpayers Choice Of Authority For Calculating Certain Items of Investment Income For Purposes of Determining “Net Investment Income” Subject To 3.8% “Medicare Tax”
  • SB/SE Exam Unit May Disclose Federal Tax Return Information to OPR
  • Company Granted Relief From Late Association Status, S Corp Elections
  • Revenue Procedure 2013-30; 2013-36 I.R.B. 173; 8/14/2013
Direct download: Federal_Tax_Update_01_27_2014.mp3
Category:Federal Tax Update -- posted at: 9:50am EDT



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