This week we look at:

  • Proposed anti-clawback regulations issued

  • Final §263A negative amount regulations issued

  • §163(j) proposed regulations leave OIRA (finally), last step before publication

Copyright 2018, Kaplan, Inc.

Direct download: 2018-11-26_Slow_March_of_the_163j_Proposed_Regulations.mp3
Category:general -- posted at: 11:02am EST

This week we look at the following items:

  • IRS publishes 2019 inflation adjusted figures

  • IRS notes increase in breaches of systems of tax return preparers in 2018

  • Filing and deposit date relief announced for victims of California wildfires

  • IRS email discusses application of due diligence preparer penalties

Copyright 2018 Kaplan Professional Education

Direct download: 2018-11-19_Chained_CPI_Makes_Its_Full_Debut.mp3
Category:general -- posted at: 6:41pm EST

This week we look at the following items:

  • §163(j) proposed regulations due this week

  • IRS releases final TCJA due diligence regulations

  • Country singer found not to operate night club for a profit

  • Foreign earned income denied when taxpayer did not show his abode was outside the United States

Copyright 2018 Kaplan Professional Education

Direct download: 2018-11-12_Due_Diligence.mp3
Category:general -- posted at: 7:41am EST

This week we look at the following items:

  • Inflation-adjusted retirement plan numbers for 2019 released

  • IRS publishes draft Form 990-T and instructions with details on the parking lot tax

  • Students lose at DC Circuit in attempt to claim travel deductions

  • A Blue Book on TCJA may be coming soon

  • A taxpayer is denied relief from liability for tax due on a joint return the court finds she didn’t file

Copyright 2018, Kaplan, Inc.

Direct download: 2018-11-05_Parking_Lot_Tax.mp3
Category:general -- posted at: 5:24pm EST

This week we look at the following items:

  • Court finds IRA and plan balance received in divorce not protected in bankruptcy

  • Interest limitation proposed regulations (except for passthroughs) heads to OMB

  • Connecticut crumbling foundation relief clarified to also create NOLs that can be carried back in 2018

  • PTIN renewal opened up by the IRS

  • OMB announces plans for guidance on TCJA loss limitation rules--but not planned to be out until June 2019

  • Taxpayer denied innocent spouse relief.

Copyright 2018 Kaplan Professional Education

Direct download: 2018-10-29_More_Guidance_to_Come.mp3
Category:general -- posted at: 6:11am EST

This week we look at the following items:

  • A pastor had taxable income from pastoral donations

  • IRS grants filing and payment relief related to Hurricane Michael

  • A taxpayer could not apply payment where the IRS had levied the account

  • Initial Qualified Opportunity Zone proposed regulations issued

Copyright 2018, Kaplan, Inc.

Direct download: 2018-10-22_Seizing_the_Opportunity.mp3
Category:general -- posted at: 4:49am EST

This week we look at the following items:

  • IRS issues SIFL rates for second half of 2018

  • Information letter discusses more issues with the SALT workaround regulations

  • Business meals will remain 50% deductible despite TCJA law changes

  • ECPRS program updated by the IRS Market discount not subject to TCJA revenue conformity rule

  • §457 plan not required to offer hurricane relief distributions

Copyright 2018, Kaplan, Inc.

Direct download: 2018-10-08_Business_Meals_Deduction_is_Alive_and_Well.mp3
Category:general -- posted at: 7:27am EST

This week we look at the following items:

  • Wall Street Journal reports IRS will issue guidance allowing 50% deduction for business meals

  • IRS issues guidance on credit for paying employees on FMLA leave

  • Moving expenses incurred in 2017 but reimbursed in 2018 ruled to be excludable from the employee’s income

  • Special per diem rules, including high/low amounts, updated by the IRS

  • IRS agent found to qualify as an innocent spouse when given what turned out to be a misleading response by soon to be ex-spouse

Copyright 2018, Kaplan, Inc.

Direct download: 2018-10-01_Employee_Benefits_Week.mp3
Category:general -- posted at: 9:12am EST

This week we look at the following items:

  • Tax Court allows a taxpayer to try and prove reasonable reliance on indirect legal advice

  • Updated safe harbor explanations for plan distributions issued by IRS

  • IRS delays major revision to Form W-4 to 2020

  • Relief announced for victims of Hurricane Florence

Copyright 2018, Kaplan, Inc.

Direct download: 2018-09-24_Is_This_Reasonable.mp3
Category:general -- posted at: 9:58pm EST

This week we look at the following items:

  • South Dakota enacts remote seller law to implement Wayfair decision beginning November 30

  • Colorado tests the limits of Justice Kennedy’s holdings in Wayfair

  • Even though records were imperfect, Tax Court finds the taxpayer was a real estate professional

  • Opportunity Zone regulations at OMB, expected out around the end of the month

  • IRS rules math error procedures can be used even after refunds are issued

Copyright 2018, Kaplan, Inc.

Direct download: 2018-09-17_Are_349_Filings_Unconstitutional.mp3
Category:general -- posted at: 5:23pm EST



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