Feb. 11, 2013

Nichols Patrick Weekly Tax Update 

With E. Lynn Nichols, CPA

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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