Current Federal Tax Developments is brought to you by the Loscalzo Institute, a Kaplan Company and by your state society of CPAs.

This week we look at the following developments:

  • House adopts Senate budget resolution beginning tax reform process
  • A taxpayer’s amount of claimed theft loss found excessive by Tax Court
  • An expert’s testimony did not substitute for records of cost of goods sold
  • IRS summons to state agency found to be proper
  • IRS memo discusses indirect loan issues for church 403(b) plan

Copyright 2017 Kaplan Inc.

Direct download: 2017-10-30_Kick_Off_for_Tax_Reform.mp3
Category:general -- posted at: 1:30pm EDT

Current Federal Tax Developments for the week of October 23, 2017 - Indexing Time of the Year. Current Federal Tax Developments is brought to you by the state CPA societies and the Loscalzo Institute, a Kaplan Company.

This week we look at the following developments:

  • IRS releases inflation adjusted tax factors for 2018
  • LB&I Division issues guidance on unit of property and major component issues for the mining industry
  • IRS announced retirement plan numbers for 2018
  • IRS announces nonacquiesence in S corporation/real estate professional decision
  • Anti-Kerr regulations officially withdrawn by the IRS
  • 2017 Returns without health care information will not be accepted for efiling
  • A court decision that appears to arrive at approximately the right place, but for all the wrong reasons

Copyright 2017 Kaplan Inc.

Direct download: 2017-10-23_Indexing_Time_of_the_Year.mp3
Category:general -- posted at: 1:32pm EDT

This week we look at the following developments:

  • Filing date relief issued by IRS for victims of Northern California wildfires
  • Challenge to minister’s housing allowance exclusion returns to court
  • Tax Court will assert strict subordination requirement for mortgages on conservation easements outside First Circuit
  • Signature no longer required for §754 election
  • Retroactive loss of tax-exempt status going back a decade proves very costly in terms of interest on unpaid tax
  • IRS email discusses potential impact on due date disaster relief and date for assessment of tax

PDF with articles for this week's podcast.

Copyright 2017 Kaplan Inc.

Direct download: 2017-10-16_Housing_Allowance_Returns_to_Court.mp3
Category:general -- posted at: 3:45pm EDT

Loscalzo Institute/A Kaplan Corporation Current Federal Tax Developments Weekly Update Podcast with Ed Zollars, CPA

This week we look at the following developments:

  • South Dakota petitions the Supreme Court for its Quill challenge
  • Congress passes a Hurricane relief bill
  • Taxpayer did not willfully fail to file FBAR
  • Parents are held liable to repay dependent son’s advanced health insurance credit
  • LB&I announces method that can be used to start with ASC 750 research expenses in computing qualified research expenditures
  • Time off donation programs expanded to cover Hurricane Maria relief donations
  • IRS releases special per diem rates for new fiscal year

Copyright 2017 Kaplan Inc.

Direct download: 2017-10-09_Congress_Proves_It_Can_Pass_a_Tax_Bill.mp3
Category:Federal Tax Update -- posted at: 1:32pm EDT

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