Federal Tax Update Podcast

Current Federal Tax Developments for the week of November 23, 2017 - S Corporation Difficulties. 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:

• HR1 moves to the Senate floor this week
• Taxpayer does not have COD income when relieved of requirement to pay back overpayments on pension
• Qualified plan relief provisions extended to victims of California wildfires
• Court does not accept attempt to use FLP discount to create income tax loss from liquidation of S corporation formed to hold FLP interest
• No basis to shareholders in debt to S corporation other S corporation shareholders controlled
• IRS issues FAQ on QSEHRAs

Copyright 2017 Kaplan Inc.

Another week as Congress continues down the path towards comprehensive tax reform. This week we look at the changes the Senate made to its bill, as well as the passage by the House of their version of the bill. We also discuss what comes next in this process.

The PDF below has the description of the two bills as they stood when this was recorded on November 18, 2017.

2017-11-20 Current Federal Tax Developments

Copyright 2017 Kaplan Inc.

Copyright 2017 Kaplan Inc.

Current Federal Tax Developments is brought to you by the Loscalzo Institute and your state society of CPAs. This week we look at HR1, Tax Cuts and Jobs Act.

A PDF with a description of the provisions can be downloaded below:

2017-11-06 Current Federal Tax Developments

Copyright 2017 Loscalzo Institute, a Kaplan Company.