Federal Tax Update Podcast

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

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This week's podcast includes:

• Individual Must Recognize Previously Excluded Gain on Property
• IRS Guidance Expected on Dual Partner/Employee Status
• Suspended Passive Losses Not Deductible – No Disposition
• Retirement Plan Penalty Relief Program Begins in June
• IRS Denied Summary Judgment in Estate Tax Deficiency Case
• LLC Owner at Risk for Loan; Aircraft Leasing Wasn't Passive
• IRS Releases Draft Form 990-EZ for 2014
• Ranch Not Required to Use Accrual Method

Federal Tax Update Podcast
With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• Tax Consequences of Proposed Trust Division
• No Gain or Loss Recognized on Transaction
• IRS Entitled to Reconstruct Business Income, Impose Penalties
• Gain From Sale of Property Is Ordinary Income; Penalty Imposed
• Individual Denied Joint Filing Status, Exemptions, and Credits
• Couple Denied Deductions for Easement Donations; Penalties Apply
• Individual Had Wage Income Not Business Income; Deductions Denied
• IRS Issues SB/SE Guidance on Collecting Civil Penalties

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• Rehabilitation of Contiguous Properties Is Single Project
• Who is Eligible Tax Matters Partner?
• Consultant Received Guaranteed Payments as Partner
• Partnership Overvalued Conservation Easement, But Not By Much!
• Vehicle Expense Deduction Denied Due to Poor Records
• Unsubstantiated Deductions Denied; Accuracy Penalties Upheld
• Final Regs Address Estate, Trust Costs Subject to 2 Percent Floor
• Arrangement to Fund Benefits Through Subsidiary Is Insurance
• Tax Court Finds Couple's Home Improvement Wasn't a Business

Federal Tax Update Podcast

With E. Lynn Nichols, CPA

• Download podcast
• Download citations

This week's podcast includes:

• IRS Approves LLC's Alternative Basis Recovery Method
• Plan Distribution Includable in Income; Penalty Upheld
• Tax Court Grants Individual Innocent Spouse Relief
• IRS Publication on 401(k) Plans for Small Businesses
• Horse Activities Were for Profit for Some Years, Not Others
• District Court Reverses Bankruptcy Court's Discharge of Taxes
• More Than Expected Eligible for ACA Premium Assistance Credits