This week we look at the following items:

  • Two state supreme courts restrict their states’ ability to tax trusts
  • IRS issued PMTA on willfulness for FBAR penalty
  • Forfeitures now can be used to fund QMACs and QNECs
  • IRS discusses the impact on taxable wages of a payroll tax examination
  • Many exempt organizations will no longer have to file Schedule B with Form 990
  • Proposed regulations issued on due diligence expansion to head of household status added by TCJA

Copyright 2018 Kaplan Professional Education

Direct download: 2018-07-23_Taxing_Trusts_Roadblocks.mp3
Category:general -- posted at: 10:16am EDT

This week's update includes discussions of the following topics:

  • More Wayfair fallout
    • North Dakota out of state seller collections required beginning October 1
    • South Carolina to use South Dakota minimums for out of state sellers
    • Wisconsin will use the South Dakota minimums for the October 1 out of state seller start
  • IRS updates security guidance for tax professionals
  • Trusts and Estates will get to deduct trustee fees and other Section 67(e) expenses following TCJA
  • IRS sticks to its position on prepaid real estate taxes when questioned by NJ Attorney General
  • IRS employee indicates the agency accepts that the back door Roth contribution is legal

Copyright 2018, Kaplan, Inc.

Direct download: 2018-07-16_OK_to_Use_the_Back_Door.mp3
Category:general -- posted at: 1:34pm EDT

This week's update includes discussions of the following topics:

  • More Wayfair fallout
    • North Dakota out of state seller collections required beginning October 1
    • South Carolina to use South Dakota minimums for out of state sellers
    • Wisconsin will use the South Dakota minimums for the October 1 out of state seller start
  • IRS updates security guidance for tax professionals
  • Trusts and Estates will get to deduct trustee fees and other Section 67(e) expenses following TCJA
  • IRS sticks to its position on prepaid real estate taxes when questioned by NJ Attorney General
  • IRS employee indicates the agency accepts that the back door Roth contribution is legal

Copyright 2018, Kaplan, Inc.

Direct download: 2018-07-16_OK_to_Use_the_Back_Door.mp3
Category:general -- posted at: 1:34pm EDT

This week we look at the following items:

  • States take various actions regarding forcing out of state sellers to collect tax
    • Louisiana looks to adopt its law to fit within Justice Kennedy’s outline of acceptable protections for interstate commerce
    • Alabama, though not a member of SSUTA, will begin requiring collection on October 1
    • Wisconsin, an SSUTA member but without a de minimis limit, will also want collections on October 1
    • New Jersey adopts a law that duplicates South Dakota and adds marketplace provisions
  • IRS LB&I Division announces five new compliance campaigns
  • IRS agent wonders if a preparer penalty could be assessed directly against an equity holder who did not otherwise violate Section 6694

Copyright 2018, Kaplan, Inc.

Direct download: 2018-07-09_The_States_Strike_Back.mp3
Category:general -- posted at: 8:10pm EDT

This week we look at the following items:

  • States take various actions regarding forcing out of state sellers to collect tax
    • Louisiana looks to adopt its law to fit within Justice Kennedy’s outline of acceptable protections for interstate commerce
    • Alabama, though not a member of SSUTA, will begin requiring collection on October 1
    • Wisconsin, an SSUTA member but without a de minimis limit, will also want collections on October 1
    • New Jersey adopts a law that duplicates South Dakota and adds marketplace provisions
  • IRS LB&I Division announces five new compliance campaigns
  • IRS agent wonders if a preparer penalty could be assessed directly against an equity holder who did not otherwise violate Section 6694

Copyright 2018, Kaplan, Inc.

Direct download: 2018-07-09_The_States_Strike_Back.mp3
Category:general -- posted at: 8:10pm EDT

This week we look at the following items:

  • IRS releases a new “postcard” dratt for Form 1040 along with 6 schedules
  • CPA who advised on ESOP and prepared 5500s was still found to be an independent appraiser on third time to court
  • IRS publishes the list of qualified opportunity zones under TCJA’s Section 1400Z-1
  • A amendment of a return with fraudulent positions does not reduce the fraud penalty
  • Taxpayer discovers IRS had not agreed to waive all penalties when taxpayer agreed to exam changes

Copyright 2018 Kaplan Inc.

Direct download: 2018-07-02_Postcard_Week.mp3
Category:general -- posted at: 11:11pm EDT

Copyright 2018 Kaplan Professional Education

Direct download: 2018-06-25_So_Long_Quill.mp3
Category:general -- posted at: 12:00pm EDT

Copyright 2018 Kaplan Professional Education

Direct download: 2018-06-18_Do_Not_Rely_on_the_IRS.mp3
Category:general -- posted at: 12:00pm EDT

This week we look at the following items:

  • Updated timeline for some TCJA guidance
  • Court accepted father’s testimony for where son lived during tax year
  • Dad denied deduction for payments related to revenue collected for son who lacked a general contractor’s license
  • The IRS grants some relief for §965 transition tax payments
  • Memo deals with confusion that arose due to special meaning certain words have in a tax context

Copyright 2018 Kaplan Professional Education

Direct download: 2018-06-11_The_Problem_with_Claiming_an_Adjustment.mp3
Category:general -- posted at: 1:08pm EDT

This week we look at the following items:

  • Fact sheet on how the IRS contacts taxpayers--and how it doesn’t
  • Ruling issued on how funds sent to state under abandoned property laws is treated for withholding and reporting purposes
  • Taxpayer was found to be a statutory employee, deductions allowed above the line
  • IRS issues proposed regulations that would increase number of taxpayers that must electronically file all information returns

Copyright 2018 Kaplan Inc.

Direct download: 2018-06-04_When_an_Employee_Isn27t_an_Employee.mp3
Category:Federal Tax Update -- posted at: 12:26pm EDT



-->

Syndication

Categories

Archives

March 2018
S M T W T F S
     
        1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31