Federal Tax Update Podcast

Nichols Patrick Weekly Tax Update 

With E. Lynn Nichols, CPA

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This week's podcast includes:

• Electronic Health Record Incentive Payments Must be Included in Income, and Reported by Payor
• Updated List of Farm Crops That Must Be Capitalized
• Termination of Insurance Policy Results in Taxable Income
• Updated Publication Gives Contact Information for Taxpayer Advocate Service
• Home Mortgage Interest Deduction Limited by Choice of Filing Status
• Horse Breeding Not For-Profit; Deductions Denied; Accuracy Penalty Upheald
• Horse Breeding Not for Profit, Deductions Denied, No Accuracy Penalty
• Deductions Disallowed, Accuracy-Related Penalties Applied
• No Deductions for Rental Real Estate Losses; Penalties Upheld

Nichols Patrick Weekly Tax Update 

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• First Circuit Affirms Dismissal of Malpractice Suit Against Accountant
• Extension to File Request to Change Accounting Period Denied
• Request to Change Accounting Period Deemed Timely Filed
• Final Regs on Tax Treatment of Noncompensatory Partnership Options
• Proposed Noncompensatory Partnership Option Regs
• Partnership Options Regs Finalized, Expanded Recharacterization Rule Proposed
• Real Estate Losses, Deductions Denied; Accuracy-Related Penalties Upheld
• Failure to Provide Qualified Appraisal Results in Denial of Charitable Deduction
• Improper Basis Adjustment to S Corporation Stock
• Accountants Liable for Trust Fund Recovery Penalties
• Easement Granted In Exchange for Subdivision Exemption Wasn't Deductible as Charitable Contribution
• Settlement Payments Not Deductible; Government Granted Summary Judgment

Nichols Patrick Weekly Tax Update 

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• No Deduction for Conservation Easement Donation
• Taxpayers Failed to Disclose Listed Transaction; Penalty Upheld
• Proposed Regs on Individual Shared Responsibility Provision
• FAQ on Individual Shared Responsibility Provision
• Fact Sheet on Healthcare Shared Responsibility Rules
• Tax Court Rejects IRS Adjustments to Automobile Businesses' Gross Receipts
• Claims Court Has Jurisdiction to Determine Application of Accuracy-Related Penalty