Thu, 3 April 2014
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
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Mon, 24 March 2014
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
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Tue, 18 March 2014
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
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Fri, 14 March 2014
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
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Thu, 6 March 2014
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
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Mon, 24 February 2014
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
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Tue, 18 February 2014
Federal Tax Update Podcast
With E. Lynn Nichols, CPA
This week's podcast includes:
- Final Regs on Employer Shared Responsibility for Health Insurance Coverage
- FAQ on Employer Shared Responsibility Provisions Under ACA
- D.C. Circuit Holds Return Preparer Regulations Invalid
- Tax Court Determines Stock Value for Estate Tax Purposes, Sustains Penalty
- Development Company Properly Reported Income From Home Construction Contracts
- Interest Accrued on Insurance Policy Loan is Includible in Distribution
- 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
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Thu, 13 February 2014
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
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Tue, 11 February 2014
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
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Fri, 31 January 2014
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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