Federal Tax Update Podcast

Nichols Patrick Weekly Tax Update 

With E. Lynn Nichols, CPA

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This week's podcast includes:

• Federal Agency's Commissioners Are Employees for Tax Purposes
• Distributions of Damages Are Excludable From Victims' Income
• IRS Publishes Final, Temporary Regs on Outbound Asset Transfers
• IRS Publishes Proposed Regs on Waiting Period for Health Insurance
• IRS Announces Penalty Relief for Delayed 2012 Tax Forms
• IRS Provides Penalty Relief for Delayed 2012 Tax Forms

Nichols Patrick Weekly Tax Update 

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• IRS Stops Printing Paper Copies of Internal Revenue Bulletin
• Exterior HVAC Units Are Not Qualified Leasehold Improvement Property
• Ruling Permitting Late S Corp Election Has Limited Effect
• Value of Interests in Artwork Determined for Estate Tax Purposes
• ank Deposits Determine Taxable Income of Pastors
• Family Support Payments Are Deductible as Alimony
• Application of UNICAP Method to OREO Property Costs
• FAQ on Schedule UTP Revised

Nichols Patrick Weekly Tax Update 

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• 2nd Circuit Reverses Tax Court; Tax Assessments Are Timely
• E & Y Pays $123 Million to Settle Tax Shelter Investigation
• Proposed Regs on Health Insurance Provider Fee
• Recognized Built-In Loss Not Treated Separately in Annual Tax Calculation
• OREO Property Not Considered Acquired for Resale; Not Subject to 263A
• Couple Deceived by Construction Company May Claim Theft Loss Deduction
• Certification Period for Work Opportunity Credit Extended 
• Judicial Doctrines Should Not Prevent Deferred Gain Recognition
• Loan Proceeds Are Includable in Income When All Events Test Is Met
• Minimum Royalties Must Be Capitalized

Nichols Patrick Weekly Tax Update 

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• IRS Files Notice of Appeal in Return Preparer Regulations Case
• Government Seeks Stay in PTIN Reg Case
• Payments Under Settlement Agreement Are Deductible Business Expenses
• Proper Year to Deduct Theft Loss Claim Based on Fraudulent Investment
• IRS Addresses Effect on Amounts at Risk for Guarantees of LLC Debt
• 2013 Limits on Depreciation Deductions for Autos
• Bank Must Capitalize Costs Associated With Holding OREO Property
• IRS Releases Publication on Choosing a Small Business Retirement Plan
• Voluntary Worker Classification Settlement Program Expanded
• FAQ on Voluntary Classification Settlement Program
• Workers Were Employees; Company Owner Liable for  Employment Taxes