Federal Tax Update Podcast

This week we look at the following items:

• Court finds IRA and plan balance received in divorce not protected in bankruptcy

• Interest limitation proposed regulations (except for passthroughs) heads to OMB

• Connecticut crumbling foundation relief clarified to also create NOLs that can be carried back in 2018

• PTIN renewal opened up by the IRS

• OMB announces plans for guidance on TCJA loss limitation rules--but not planned to be out until June 2019

• Taxpayer denied innocent spouse relief.

Copyright 2018 Kaplan Professional Education

This week we look at the following items:

• A pastor had taxable income from pastoral donations

• IRS grants filing and payment relief related to Hurricane Michael

• A taxpayer could not apply payment where the IRS had levied the account

• Initial Qualified Opportunity Zone proposed regulations issued

Copyright 2018, Kaplan, Inc.

This week we look at the following items:

• IRS issues SIFL rates for second half of 2018

• Information letter discusses more issues with the SALT workaround regulations

• Business meals will remain 50% deductible despite TCJA law changes

• ECPRS program updated by the IRS Market discount not subject to TCJA revenue conformity rule

• §457 plan not required to offer hurricane relief distributions

Copyright 2018, Kaplan, Inc.