Federal Tax Update Podcast

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

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This week's podcast includes:

• IRS Launches Affordable Care Act Website
• Late-Filed 1120S Wasn't Disclosure; 6 Year Statute of Limitations Applies
• Photo Processing Qualifies for Domestic Production Activity Deduction
• 40 Questions (and 40 Answers!) on the New 3.8 Percent Tax
• Transaction Lacked Economic Substance, Nontax Business Purpose

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• 2013-14 Priority Guidance Plan Adds 501(c)(4) and DOMA Guidance
• Individual an Employee; Made Excess Contributions to SEP
• Purchase/Sale of Life Insurance Policy Does Not Affect Income Exclusion
• Proposed Regs on Requesting Equitable Innocent Spouse Relief
• Estate Made Partial Tax Payment, Not Deposit; Refund Denied
• S Corp Liable for Employment Tax Deficiency, Additions Taxes
• Final Regs on Information Disclosure for Insurance Affordability Programs
• Doctor Must Report Income From S Corporation Interest
• Rev. Proc. Consolidates Late S Corporation Election Procedures
• Musician's Business Expense Deductions Allowed; No Penalties Imposed
• IRS Announces Cuts to Refundable Corporate AMT Credit Payments

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• Owners of Gift Basket Company Granted Summary Judgment Allowing Section 199 “Qualified Domestic Production Deduction”
• Manufacturing Tax Break Gone Wild
• Individual Granted “Innocent Spouse” Relief From Liability on Joint Return
• Couple Did Not Underreport Income: Credible Testimony Established Agency Relationship
• S Corp Liable for Employment Tax Deficiencies and Penalties for Failure to Treat Payment to Shareholder as Wages
• Losses From Bull Breeding Activity Limited by Failure to Satisfy Recordkeeping Requirements of Passive Activity Rules
• Disability Payment Included in Income, Taxpayer Liable for Additions to Tax
• Insurance Company Loses Tax-Exempt Status
• Research Organization Is Denied Tax-Exempt Status

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• Transfers in Exchange for Self-Canceling Notes Are Taxable Gifts
• Final Regs on Reimbursed Entertainment Expenses
• No Transfer of Goodwill in Radio Station Like-Kind Exchange
• Notices of Deficiencies Timely Due to Fraud, Omissions From Gross Income
• Mortgage, Credit Card, and Utility Payments Were Income to Minister
• Same-Sex Surviving Spouse Awarded Spousal Death Benefits
• U.S. District Court Orders Recognition of Same-Sex Marriage in Ohio