2018-07-18 OK to Use the Back Door

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.